（责任编辑：张晓波 ） 中信证券认为，今年7月底以来，我国GW星座发射频率显著提升，从01-05组星的一到两个月发射 间隔缩短到05-10组星的3-5天发射间隔，组网速度明显加快，或表明我国卫星互联网开始进入高密度组 网期。民营液体火箭有望逐步成为建设我国低轨卫星互联网的重要力量，手机直连卫星加速推广，卫星 互联网建设有望加速。 航空航天ETF（159227）跟踪国证航天指数，深度布局航空航天产业链。全球地缘局势升温推动国 防开支刚性增长，同时商业航天（如火箭发射、太空旅行）进入产业化阶段，打开万亿级市场空间。航 空航天产业兼顾技术壁垒与盈利确定性。投资者可通过该产品一键配置高门槛行业，分享政策红利与技 术升级的双重收益。 每日经济新闻 9月22日，三大指数小幅高开后震荡下行，军工板块低开后盘中震荡。全市场军工含量最高的航空 航天ETF（159227）前期下跌后小幅回升，截至9时47分上涨0.09%，成交额3420万元，稳居同类第一。 持仓股中，海兰信、迈信林、国睿科技、中航沈飞等上涨。 消息面上，9月21日9时32分，山东海阳东方航天港传来捷报——天龙三号大型液体运载火箭一子级 动力系统海上热试车圆满成功。 ...

Group 1 - The U.S.-led global payment system is evolving into an "invisible financial weapon," forcing countries to choose sides in a new economic confrontation [3][5] - The rapid disconnection of Visa and MasterCard from Russia during the Ukraine conflict highlighted the potential for the U.S. to use financial infrastructure as a geopolitical tool [5][6] - Countries are increasingly aware of the risks associated with reliance on U.S. payment platforms, prompting a search for alternative payment solutions [8][9] Group 2 - Europe is leading the charge to develop an independent pan-European payment standard to ensure regional trade is not subject to external interference [8][9] - Asian countries are innovating in financial technology, utilizing blockchain and digital currencies to create efficient cross-border payment solutions, such as India's UPI international version [8][9] - A global restructuring of payment sovereignty is underway, with nations striving to build a more diverse and balanced international payment ecosystem [9] Group 3 - The F-35 fighter jet exemplifies the risks of dependency on U.S. technology, as its operational control remains largely with American companies, raising concerns about potential supply chain disruptions [10] - Trump's pressure on the Federal Reserve has undermined the perceived independence of the U.S. central bank, leading to a global shift towards "de-dollarization" as countries seek to enhance their financial autonomy [11][14] - In response to U.S. control in financial, military, and monetary policies, countries are actively working to diminish U.S. dominance through technological innovation and cooperation [14]

智通财经APP获悉，受美联储降息提振，美国股市上周收于历史新高。未来一周，美联储官员的讲话将 成为市场关注的焦点，新任美联储理事斯蒂芬·米兰和美联储主席杰罗姆·鲍威尔分别于周一和周二发表 讲话，其他FOMC票委也将密集发声。 将于周五公布的美国通胀数据也备受关注。市场预计美联储青睐的通胀指标8月核心PCE物价指数环比 增长率放缓至0.2%，而年增长率仍为2.9%，高于美联储的目标水平。 上周，参议院民主党和共和党分别阻止了对方提出的将政府资金延长至本月底的提议。这些提议原本旨 在为美国国会争取更多时间来制定一项支出法案。 投资者还将密切关注周五公布的密歇根大学消费者信心指数，以及抵押贷款利率。房地美称，抵押贷款 利率已接近一年来的最低水平。 重要财报方面，投资者将关注美光科技(MU.US)的人工智能需求以及最新营收指引，好市多(COST.US) 财报则是衡量消费者支出状况的重要指标之一。 Firefly Aerospace(FLY.US)、汽车地带(AZO.US)、信达思(CTAS.US)和埃森哲(ACN.US)等公司也将公布 财报。 美联储降息引发股市狂欢 投资者几乎确信美联储上周会降息。无论如何，他们都对 ...

Core Insights - The article highlights the rapid growth and development of the "specialized, refined, characteristic, and innovative" (专精特新) enterprises in Beijing, particularly through the establishment of the specialized board that supports small and medium-sized tech companies [2][4]. Group 1: Company Developments - Dianqing Technology, a company focused on high-power aerospace power systems, has made significant progress in achieving a megawatt-level power generation system, narrowing the technological gap with the U.S. [1]. - The company successfully listed on Beijing's specialized board by the end of 2023, which has accelerated its growth [1]. - Zhongke Yutu, a new entrant to the specialized board, values the listing cultivation services and green channel mechanisms provided by the board [3]. Group 2: Specialized Board Achievements - As of September 19, 2023, the specialized board has 900 listed companies, reflecting the steady growth of Beijing's tech innovation [2]. - The board has established a three-tier cultivation system, including 234 incubated companies, 509 standardized companies, and 157 cultivated companies [2]. - Nearly 60% of the companies on the board have R&D investments exceeding the industry average, with an overall R&D intensity approaching 24% in 2024 [2]. Group 3: Financial and Policy Support - The specialized board has implemented a financing reward policy to stimulate the growth of specialized and innovative enterprises [4]. - A new AI-based comprehensive financial service platform has been launched, marking the transition of specialized board services into an intelligent phase [5]. - The board is working to enhance its service system and financing channels, including customized credit products for eligible companies [6]. Group 4: Future Expectations - Companies on the specialized board express a desire for enhanced collaboration to create a cluster effect within the same industry chain [6]. - There are expectations for the board to play a pivotal role in connecting enterprises with more application scenarios in emerging fields like low-altitude economy and ecological environment monitoring [6].

Group 1 - The core viewpoint of the article highlights Lenovo's successful transformation through intelligent manufacturing, resulting in a 28% reduction in supply chain order delivery time, a 25% increase in accuracy, and a 20% decrease in manufacturing and logistics costs, leading to a more balanced supply and demand [2] - Lenovo's factories in Hefei and Monterrey have been recognized as "lighthouse factories" by the World Economic Forum and have improved their ranking to eighth in Gartner's global supply chain top 25 [2] Group 2 - China's first dual-seat electric helicopter, RX1H, successfully completed its maiden flight, indicating that the country has reached an internationally advanced level in electric helicopter design and propulsion systems [2] - In Guangdong, the production of robots and drones has maintained double-digit growth, with industrial robots, service robots, and civilian drones increasing by 32.1%, 17.3%, and 54.7% respectively from January to August [4]

Core Insights - The article highlights the historical significance and current developments of the aviation industry in Jilin, particularly focusing on the legacy of the Northeast Aviation School and the ongoing advancements in the aerospace sector [1][2][3]. Historical Context - The Northeast Aviation School was established on March 1, 1946, marking the beginning of China's first aviation school under the Communist Party, which adapted to the needs of the Northeast battlefield [2]. - The school faced significant challenges, including material shortages, leading to extensive efforts to gather resources across over 30 towns and 50 airports within seven months [2]. - The spirit of the Northeast Aviation School, characterized by unity, hard work, and innovation, has become an integral part of the local culture [2]. Current Developments - The Air Force Aviation University, known as the "cradle of Air Force pilots," continues to fulfill its mission of training military aviation talents, producing notable figures in both military and space exploration [3]. - The Changchun Aviation Expo has emerged as a significant platform showcasing aviation strength and spirit, with the 2025 event featuring a total exhibition area of 2.358 million square meters and participation from 209 exhibitors [4]. - The expo aims to establish itself as the leading brand for military-themed aviation exhibitions in China, integrating aerial performances, static displays, and industry forums [4]. Technological Advancements - Technological innovation is seen as a driving force for the aviation industry, with the Changguang Satellite National Space Science Education Base attracting over 50,000 visitors since its opening in October 2018 [5]. - The "Dreaming of the Stars" aerospace education and tourism center in Changchun combines various interactive experiences, allowing visitors to engage with real astronaut training equipment and learn about China's aerospace journey [7]. Industry Growth - Jilin has developed a comprehensive aerospace industry chain, with numerous leading enterprises and hundreds of supporting companies contributing to a steady increase in industry output [9]. - The region is focused on building a solid industrial foundation, merging historical achievements with future aspirations in the aerospace sector [9].

据新华社消息，国务院总理李强9月19日主持召开国务院常务会议，研究关于在政府采购中 实施本国产品标准及相关政策。 会议指出，制定出台政府采购中本国产品标准及相关政策，是完善政府采购制度的重要举 措，也是落实政府采购领域外资企业国民待遇的务实行动。要从实际出发，合理分类设定本 国产品标准，明确对特定产品关键组件、关键工序的具体要求。要充分听取各方面意见，稳 妥推进标准实施，合理设置过渡期，支持企业提前做好产业布局和投资计划。要对各类经营 主体一视同仁、平等对待，切实保障公平竞争。 制定出台政府采购中本国产品标准及相关政策指的是什么？有什么作用？知名经济学家、国研新经济研 究院创始院长朱克力表示，政府采购本国产品标准及相关政策，核心是明确本国产品的认定规则，包括 产品在中国境内生产、组件成本占比达标、关键工序在中国完成等要求。政策拟对符合标准的本国产品 给予20%的价格评审优惠，相当于在政府采购竞争中赋予其价格优势。这一政策的作用在于推动国内产 业升级与自主可控。通过政府采购的需求牵引，激励企业加大技术研发、提升产品质量，同时减少对进 口产品的依赖，增强产业链安全性。例如，在芯片、高端装备等领域，政策可加速国产替 ...

Core Viewpoint - The article discusses the dual exploration of embodied intelligence in China, focusing on advancements in AI large models by companies like UBTECH and Zhihui Square, and the foundational work on intelligent materials by academician Leng Jinsong to reconstruct the "body" of robots [2][3][18]. Group 1: AI Large Models and Commercial Applications - UBTECH announced its large multimodal model, Thinker, which achieved four global firsts in international robot benchmark tests [2]. - Zhihui Square plans to deploy over 1,000 embodied intelligent robots powered by its VLA model in the semiconductor display production base of Huike over the next three years [2][14]. - The VLA model allows robots to learn tasks autonomously through end-to-end data-driven approaches, enhancing their adaptability in existing factory environments [14][15]. Group 2: Intelligent Materials and Robotic "Body" - Leng Jinsong emphasizes the importance of the "execution layer" in embodied intelligence, which is often overlooked in current discussions [2][10]. - His research focuses on intelligent materials that can actively change shape and function, aiming to replace traditional motors in robotics [5][10]. - A notable application of these materials is the flexible solar sail deployed on a commercial satellite, marking the first use of such materials as the main power source in space [7][8]. Group 3: Future Applications and Innovations - Intelligent materials have potential applications in various fields, including aerospace, industrial manufacturing, and biomedical sectors [9][10]. - Examples include flexible hydrogen storage bottles for electric vehicles and biodegradable stents for cardiovascular applications [9][10]. - Leng envisions a future where intelligent materials can not only change but also possess life-like characteristics, integrating AI and self-repair capabilities [11]. Group 4: Industry Challenges and Competitive Landscape - The competition in the industry is not only about AI algorithms but also about enhancing the sensory capabilities of robots through advanced tactile sensors [15][16]. - Despite leading in foundational research on intelligent materials, China faces the risk of being outpaced in product commercialization by companies from Japan and Germany [16]. - The article highlights the need for both AI-driven companies and foundational research to effectively translate their technological advantages into market-ready products [18].

Group 1 - The core message indicates a potential thaw in US-China relations following President Trump's planned visit to China, which is seen as a significant diplomatic gesture amidst ongoing trade tensions [1][4] - Trump's visit is reportedly aimed at urging China to resume purchases of Boeing aircraft and US soybeans, highlighting the impact of China's countermeasures on the US economy, including a $612 million net loss reported by Boeing in Q2 [1][3] - The recent 25 basis point interest rate cut by the Federal Reserve is viewed as a timely support for the Chinese economy, potentially allowing for more aggressive fiscal policies and easing monetary conditions [3][4] Group 2 - China has achieved multiple victories in the ongoing US-China trade conflict, including extending tariff truce periods and negotiating relief from TikTok bans, showcasing its strategic resilience [4] - The US should recognize that a zero-sum game approach will lead to mutual losses, as China holds significant leverage with its complete industrial supply chain and vast consumer market [4] - The upcoming discussions between the two nations may represent a pivotal moment for US-China relations, with the initiative resting largely with the US [4]

Group 1 - The event "Xiangzhi Xingxiang" held in Changsha focuses on gathering international high-end talent to build a global R&D center city [1][3] - Over 300 guests, including academicians, experts, and representatives from universities, research institutes, and enterprises, participated in the event to contribute to the development of a competitive technology innovation hub [1][3] - The Changsha government emphasizes talent as the core driving force for development, aiming to attract global talent through a favorable living environment and effective talent policies [3] Group 2 - The event featured the awarding of R&D center licenses to 10 leading enterprises and the establishment of 10 new types of R&D institutions [3] - A total of 24 key projects were signed during the event, indicating a strong commitment to advancing technological innovation [3] - Five thematic meetings were held during the event, focusing on aerospace, cultural and technological integration, cutting-edge technologies, integrated circuits, and biomedicine [3]