新华社记者 余春生摄 国家发展改革委固定资产投资司副司长关鹏介绍，《若干措施》提出了13项政策举措，可归纳为扩大准 入、打通堵点、强化保障三个方面。 在扩大准入方面，针对民间投资面临的部分领域市场准入难问题，《若干措施》提出，对需报国家审批 （核准）的具有一定收益的铁路、核电等重点领域项目，鼓励支持民间资本参与并明确持股比例等要 求；对各地方规模较小、具有盈利空间的城市基础设施领域新建项目，鼓励民间资本参与建设运营；引 近来，三一智造基地等一批民间投资重点项目如火如荼推进，持续为湖南经济社会发展注入新动能。图 为湖南省长沙市三一智联重卡产业园内的生产场景。 导民间资本有序参与低空经济、商业航天等领域建设，加快公布向民营企业开放的国家重大科研基础设 施清单并动态更新，积极支持有能力的民营企业牵头承担国家重大技术攻关任务。 在打通堵点方面，针对民营企业面临的权益保障、创新支撑不足问题，《若干措施》提出，加强对网络 型基础设施运行调度的监管，保障民营企业在电力并网运行、油气管网设施使用、运力资源调配等方面 的合法权益；鼓励支持民营企业加快建设一批具有较强行业带动力的重大中试平台，支持国有企业、高 等院校、科研院所面 ...

Core Insights - The Trump administration plans to allocate "hundreds of billions" in national funds to finance the construction of new nuclear power plants to address the significant energy gap created by the rise of artificial intelligence (AI) [1][4] - The U.S. Department of Energy aims to support nuclear power projects through its Loan Programs Office (LPO), which has the authority to provide loan guarantees for projects that struggle to secure bank financing [1][8] Group 1: Government Initiatives - The government is responding to market concerns regarding the massive energy infrastructure investment needed to meet the power demands of AI data centers [4][5] - Chris Wright, the U.S. Energy Secretary, has set a goal to see "dozens of nuclear power plants under construction" by the end of his term in three years and three months [4][11] - The administration's commitment to nuclear energy is underscored by a previous executive order mandating the construction of ten large nuclear reactors by 2030 [4][8] Group 2: Financial Implications - Morgan Stanley estimates that the U.S. will need at least 36 gigawatts (GW) of additional power by 2028 to support data centers, translating to an investment demand of several trillion dollars for energy infrastructure [5][8] - The LPO can provide low-cost debt financing to private capital, with a matching ratio of up to four to one, to stimulate nuclear project development [8][12] Group 3: Private Sector Engagement - Major tech companies, including Alphabet, Amazon, Meta Platforms, and Microsoft, are investing billions to restart old nuclear plants, upgrade existing facilities, and deploy new reactor technologies [12] - Westinghouse Electric, a key player in nuclear technology, has reached an agreement with the Trump administration and its parent companies to invest $80 billion in nuclear power plants across the U.S. [12][13] Group 4: Challenges and Opportunities - Despite the promising outlook, large nuclear projects face challenges, particularly in cost control, as evidenced by Westinghouse's past difficulties with budget overruns [14] - The historical challenges have opened opportunities for more cost-effective alternatives, such as small modular reactors (SMRs) developed by companies like Oklo and Nano Nuclear [14]

Core Viewpoint - The nuclear power index experienced a significant decline, with a daily drop of 3.02% on November 12 [1] Group 1: Market Performance - The leading stock, Hailu Heavy Industry, fell over 9% [1] - Other notable declines included Haheng Huaton at 7.39%, Yingliu Co. at 7.17%, Yongding Co. at 6.39%, and China Nuclear Engineering at 6.31% [1]

Core Viewpoint - The newly implemented measures aim to promote private investment in China by expanding access, addressing bottlenecks, and strengthening support mechanisms for private capital participation in key sectors [1][4][6]. Group 1: Key Areas for Private Investment - The measures encourage private capital participation in state-led sectors such as railways, nuclear power, hydropower, oil and gas pipelines, and water supply, allowing for a shareholding ratio of over 10% for eligible projects [4][6]. - The government plans to enhance policies for private capital in the energy sector, focusing on long-term mechanisms for private participation in major projects [6][39]. Group 2: Support for High-Value Services and Innovation - The initiative extends to high-tech research and innovation sectors, promoting private investment in industrial design, common technology services, inspection, and quality certification [9][11]. - The government aims to support the transformation of manufacturing services, encouraging private enterprises to explore pathways for service-oriented manufacturing [9][11]. Group 3: Infrastructure REITs and Financing Channels - The government has been actively supporting the issuance of infrastructure REITs for eligible private investment projects, with 14 projects already listed, raising nearly 30 billion yuan [12][14]. - The measures aim to broaden financing channels for private enterprises, facilitating a virtuous cycle of investment and financing [14][42]. Group 4: Development of Pilot Platforms - The government has issued a notification to accelerate the establishment of high-level pilot platforms in manufacturing, targeting key industries and sectors [15][18]. - There are over 2,400 pilot platforms established, with 241 prioritized for development, supporting nearly 25,000 service projects [21][22]. Group 5: Policy Clarity and Institutional Support - The new measures provide clear guidelines for private enterprise participation in major projects, including specific requirements for feasibility studies [28][32]. - The government emphasizes the importance of precise and actionable policies to enhance private sector engagement in critical areas [35][39]. Group 6: Comprehensive Financing Services - The government plans to create a national comprehensive financing service platform to improve the efficiency of investment and financing for private enterprises [40][44]. - Enhanced collaboration with various funding channels and financial services is expected to increase the effectiveness of policies promoting private investment [42][44].

央视网消息：《关于进一步促进民间投资发展的若干措施》11月10日正式落地，从扩大准入、打通堵点、强化保障三个主要方面，让民间 投资有更多的准入机会。国家发展改革委11月11日举行专题新闻发布会，介绍进一步促进民间投资发展有关情况。 《关于进一步促进民间投资发展的若干措施》提出，铁路、核电、水电、输电通道、油气管网、供水等由国有资本主导的领域，鼓励支持民间 资本参与。对具备条件的项目，民间资本持股比例可在10%以上。此次政策一大亮点在于，它明确了可参与的重点领域，并量化了具备条件的 项目持股比例。 国家发展改革委相关负责人介绍，将进一步加大能源领域引入民间资本的政策供给，完善民营企业参与核电、水电、跨省跨区直流输电通道等 重大项目长效机制。持续深化能源市场化改革，加快建设全国统一能源市场体系，从管网接入与使用、信息公开等方面完善机制、强化监管， 为民营企业参与能源投资创造更加有利的环境。 除了重资产领域，开放领域也延伸到"高精尖"科研和创新领域，从实体经济延伸到服务业。国家发展改革委相关负责人介绍，下一步，将支持 民间资本有序流向高价值服务行业，聚焦工业设计、共性技术服务、检验检测、质量认证等重点环节。支持民营 ...

格隆汇11月12日｜OpenAI首席执行官Sam Altman支持的核电公司Oklo公布，第三季度净亏损从去年同 期的约1000万美元扩大至2970万美元，分析师预期亏损1820万美元；每股亏损0.2美元，分析师预期每 股亏损0.14美元。运营支出从去年同期的1220万美元增至3630万美元。 该公司表示，能源部反应堆试点项目下的许可审批正在推进，预计11月中旬开始现场控制爆破，2026年 1月进行全面开挖。此外，该公司宣布与Battelle Energy Alliance签署谅解备忘录，扩大在先进燃料和材 料方面的科研合作。 ...

近日，国家发展改革委会同相关部门印发《关于进一步促进民间投资发展的若干措施》（以下简称 《若干措施》），提出13项针对性政策举措，着眼于进一步激发民间投资活力、提升整体投资效益。11 月11日，国家发展改革委举行新闻发布会，邀请有关司局负责人对《若干措施》进行了分析和解读。 破解民间投资准入难题 国家发展改革委固定资产投资司副司长关鹏介绍，《若干措施》提出了13项政策举措，可归纳为扩 大准入、打通堵点、强化保障三个方面。 在强化保障方面，针对民间投资项目投融资支持不足问题，《若干措施》提出，加大中央预算内投 资对符合条件民间投资项目的支持力度，用好新型政策性金融工具，支持一批符合条件的重要行业、重 点领域民间投资项目。 在扩大准入方面，针对民间投资面临的部分领域市场准入难问题，《若干措施》提出，对需报国家 审批（核准）的具有一定收益的铁路、核电等重点领域项目，鼓励支持民间资本参与并明确持股比例等 要求；对各地方规模较小、具有盈利空间的城市基础设施领域新建项目，鼓励民间资本参与建设运营； 引导民间资本有序参与低空经济、商业航天等领域建设，加快公布向民营企业开放的国家重大科研基础 设施清单并动态更新，积极支持有能 ...

Group 1 - The core viewpoint is that China will implement multiple measures to promote the development of private investment [2] - The government will utilize central budget investments to actively support eligible private investment projects [2] - A national investment and financing comprehensive service platform will be established to enhance connectivity with national financing credit service platforms, aiming to provide more precise credit resources to private enterprises [2] Group 2 - There will be increased support for private capital to flow into high-value service industries, with a focus on encouraging private enterprises to participate in key projects in the productive service sector [2] - The energy sector will see enhanced policies to attract private capital, including the establishment of long-term mechanisms for private enterprises to participate in major projects like nuclear power and hydropower [2] - Continuous deepening of energy market reforms will be pursued, with efforts to build a unified national energy market system to create a more favorable environment for private investment in energy [2] Group 3 - Digital transformation will be leveraged to further promote private investment, with the construction of a comprehensive digital empowerment platform [2] - The initiative aims to drive small and medium-sized enterprises into the transformation ecosystem through collaborative transformation along the industrial chain, thereby expanding new effective investment spaces [2]

Core Viewpoint - The recent issuance of the "Several Measures to Further Promote the Development of Private Investment" by the State Council emphasizes the importance of private capital in key sectors, moving from encouragement to specific quantitative requirements for private investment participation [1][2]. Group 1: Policy Measures - The document outlines 13 targeted measures to expand market access and address investment bottlenecks, including encouraging private capital in critical areas such as railways and nuclear power with specific shareholding requirements [1]. - Private capital is now considered an "option that should be chosen," with allowed shareholding ratios exceeding 10% in eligible projects within sectors like railways, nuclear power, and water supply [1][2]. - The measures aim to eliminate unreasonable restrictions on service industry access, particularly in areas like environmental protection and quality inspection [3]. Group 2: Economic Impact - Private enterprises play a crucial role in China's economy, contributing over 80% of urban employment and 65% of patent inventions, highlighting their importance in driving innovation and economic resilience [1]. - The "14th Five-Year Plan" emphasizes the need for a long-term mechanism for private enterprises to participate in major project construction, enhancing the role of private investment in economic growth [2]. - The focus on service industry development and the removal of barriers for private enterprises is expected to lead to higher quality growth in the service sector [3]. Group 3: Strategic Development - The measures reflect a comprehensive strategy to promote private investment across various sectors, including infrastructure, scientific research, and modern services, indicating a multi-layered approach to economic development [4]. - The government aims to create a fair competitive environment by removing hidden barriers in areas such as resource acquisition and government procurement, thereby supporting the sustainable development of the private economy [3][4].

Core Insights - Oklo reported a third-quarter loss of $0.20 per share, with a net loss of $29.72 million [1] - The U.S. Department of Energy approved the nuclear safety design protocol for Oklo's fuel manufacturing facility at Idaho National Laboratory, clearing a significant hurdle for the construction of the Aurora-INL power plant [1] - Oklo faces a tight deadline to complete the pilot reactor by July 2026, which is earlier than the company's internal targets [1] - Despite poor financial performance, Oklo's stock price has significantly increased this year, indicating investor optimism regarding the prospects of SMR technology [1]