新华财经北京12月5日电（于青） 近日，以"五载耕'数'，'媒'好未来"为主题的中国信息通信研究院（以 下简称"中国信通院"）数字经济媒体班五周年回顾暨2025届结课仪式在京举行。作为国家高端专业智库 与产业创新发展平台，中国信通院依托长期研究积淀与智库资源优势，为媒体行业培养复合型数字人才 提供坚实支撑，并与媒体伙伴携手，共同构筑起贯通政策端、产业端与社会公众的沟通桥梁。 当前，数字经济动能澎湃，智能经济加速崛起，数智技术成为驱动媒体行业全方位变革的关键力量，行 业高质量发展迎来新的机遇和挑战，媒体工作者的数字素养亟待提升。 服务国家战略、赋能产业发展，中国信通院于2021年启动首期数字经济媒体班，截至目前已累计为来自 人民日报社、新华社、中央广播电视总台等70余家中央主流媒体及多家行业权威媒体的263名媒体从业 者进行授课。 中国信通院副院长魏亮表示，媒体是连接技术创新、产业变革与社会公众认知的关键桥梁，也是推动实 体经济和数字经济深度融合的关键力量。五年来，学员们产出了一大批具有影响力的深度报道，以专业 视角解读产业政策，以鲜活案例呈现发展成就，覆盖受众广泛，为凝聚社会共识、营造良好发展氛围发 挥了积极 ...

Core Insights - The U.S. labor market is experiencing a significant cooling, with private sector jobs decreasing by 32,000 in November, marking the largest decline since March 2023, and falling short of the expected increase of 40,000 jobs [1][4]. Employment Trends - Small businesses, defined as those with fewer than 50 employees, are particularly affected, losing a total of 120,000 jobs in November, with firms employing 20 to 49 people accounting for 74,000 of these job losses [5][9]. - In contrast, large enterprises with 50 or more employees added 90,000 jobs, indicating a stark difference in resilience between small and large businesses in the current economic climate [12]. Wage Growth - Wage growth for retained employees has slowed, with a year-over-year increase of 4.4%, down by 0.1 percentage points from October [2]. Industry Performance - The employment data reveals a broad decline across various sectors, with professional and business services losing 26,000 jobs, the information sector shedding 20,000 jobs, and manufacturing reducing its workforce by 18,000 [12]. - Only a few sectors saw job growth, notably education and healthcare services, which added 33,000 jobs, and leisure and hospitality, which increased by 13,000 jobs; however, these gains were insufficient to offset the widespread declines in other industries [12]. Federal Reserve Implications - This employment report is critical ahead of the Federal Reserve's policy meeting on December 9-10, with futures traders estimating a nearly 90% probability of a 25 basis point rate cut, despite some officials expressing concerns about further easing [4][16]. - Divergent views among Federal Reserve policymakers have emerged, with some advocating for rate cuts to prevent further deterioration in the labor market, while others worry that additional cuts could exacerbate inflation, which remains above the Fed's 2% target [16].

Group 1 - The private sector in the U.S. unexpectedly lost 32,000 jobs in November, indicating a further slowdown in the labor market [1] - Small businesses were particularly hard hit, with companies having fewer than 50 employees losing 120,000 jobs, marking the largest decline since March 2023 [4] - In contrast, large companies (those with 50 or more employees) added 90,000 jobs, with the education and healthcare sectors leading the way with an increase of 33,000 jobs [4] Group 2 - Wage growth has slowed, with salaries for retained employees rising 4.4% year-over-year, down 0.1 percentage points from October [5] - The ADP report is significant as it is the last employment data available before the Federal Reserve's meeting on December 9-10, where there is a 90% chance of a 25 basis point rate cut [5] - Recent weeks have seen mixed opinions among Federal Reserve officials regarding the necessity of further rate cuts to prevent further deterioration in the labor market [5]

Report Summary 1. Report Industry Investment Rating No industry investment rating information is provided in the report. 2. Core Viewpoints - In November, the manufacturing PMI contraction slowed down, with synchronized improvement in production and demand, accelerated improvement in the price index, and a slowdown in procurement contraction. Meanwhile, the service industry fell into the contraction range, and the construction industry remained below the boom - bust line for four consecutive months. More efforts are needed to promote various economic stabilization policies [1][5][35]. - In November, the bond market fell into a "ceiling - floor" oscillation pattern again due to the lack of strong policy and fundamental drivers. Most institutions are waiting for clear guidance from incremental information. The important meetings in December and subsequent key economic data releases are expected to determine the market direction. Historically in December, interest rates tend to decline, but the bullish sentiment in the market has concerns, and the year - end allocation market is yet to start [4][35]. 3. Summary by Directory I. November PMI Data Overview - Manufacturing: The manufacturing PMI in November was 49.2%, up 0.2 percentage points month - on - month, remaining below the boom - bust line for eight consecutive months. The production index reached the critical point, external demand improved significantly, the price index improved at an accelerated pace, finished - product destocking accelerated, and procurement contraction slowed [8]. - Non - manufacturing: The service industry fell into the contraction range, with its business activity index dropping 0.7 percentage points to 49.5%. The construction industry showed a slight recovery, with its business activity index rising 0.5 percentage points to 49.6%, remaining below the boom - bust line for four consecutive months [11]. II. Manufacturing: Synchronized Improvement in Production and Demand, Accelerated Improvement in Price Index - Production: The manufacturing PMI production index reached 50.0% in November, returning to the boom - bust line after a brief fall into the contraction range last month, up 0.3 percentage points month - on - month, but weaker than the seasonal performance [15]. - Demand: External demand improved significantly, driving overall demand to pick up. The new export order index rose notably, and demand improvement was higher than production. Small - enterprise PMI rebounded, and the high - energy - consuming industry's prosperity level rebounded from a low level [18]. - Price: The "anti - involution" policy advanced steadily, and with the coordinated stabilization of supply and demand, the price index improved at an accelerated pace. The main raw material purchase price index and the ex - factory price index rose by 1.1 and 0.7 percentage points respectively, and the index difference between them increased to 5.4 percentage points, indicating a narrowing profit margin for enterprises [21]. - Inventory: Finished - product destocking accelerated, and procurement contraction slowed. The raw material inventory index remained flat at 47.3%, and the finished - product inventory decreased by 0.8 percentage points. The enterprise procurement willingness increased, and the procurement volume index rose to 49.5% [24]. III. Non - manufacturing: Service Industry Falls into Contraction Range, Construction Industry Shows Slight Recovery - Service Industry: After the concentrated release of consumption demand during the National Day Golden Week last month, consumer - related service industries declined in the off - season, and the service industry fell into the contraction range. However, financial activities continued to strengthen, and new - energy industries maintained steady growth [28]. - Construction Industry: Construction activities recovered in November, with the construction business activity index rising 0.5 percentage points to 49.6%, remaining below the boom - bust line for four consecutive months. The business activity index of the housing construction industry increased significantly, and that of the civil engineering construction industry remained above 52% [31]. IV. Impact on the Bond Market - In November, the bond market was in a "ceiling - floor" oscillation pattern due to the lack of strong policy and fundamental drivers. Most institutions were in a wait - and - see mode. The important meetings in December and subsequent key economic data releases are expected to determine the market direction. Historically in December, interest rates tend to decline, but the bullish sentiment has concerns, and the year - end allocation market is yet to start [4][35].

Core Viewpoint - A system failure at the travel service platform "航旅纵横" led to widespread misinformation regarding flight cancellations, causing users to incur additional costs for ticket price differences and cancellation fees [1][4]. Group 1: Incident Overview - On November 29, users received notifications about flight cancellations from 航旅纵横, which were later found to be incorrect due to a system malfunction [1][4]. - Affected users reported financial losses, including a cancellation fee of 350 yuan when they attempted to rebook flights based on the erroneous notifications [2][4]. Group 2: Company Response - 航旅纵横 acknowledged the system failure and stated that the issue has been resolved, but emphasized that the flight information provided is for reference only and users should verify with airlines directly [4]. - The customer service team indicated that they would not compensate users for the additional costs incurred due to the misinformation [4]. Group 3: Company Background - 航旅纵横 is a mobile service product launched by China Civil Aviation Information Network Co., Ltd., which provides comprehensive travel information services from preparation to arrival [10]. - The company is a state-owned enterprise established in 2001, serving major domestic airlines and airports, with a network covering 300 domestic and 80 international cities [10].

Core Viewpoint - The company, Hanglv Zongheng, faced complaints regarding erroneous flight cancellation notifications due to a system malfunction, leading to user confusion and financial losses [1][2][3]. Group 1: Incident Overview - On November 29, users received incorrect flight cancellation alerts from Hanglv Zongheng, prompting some to purchase new tickets, only to find that their original flights were still operational [1][2]. - Affected users reported incurring additional costs, including ticket price differences and cancellation fees, with one user specifically mentioning a 350 yuan fee for a new ticket [2]. Group 2: Company Response - Hanglv Zongheng acknowledged the system failure that caused widespread misinformation and stated that the issue has been resolved [3]. - The company clarified that the flight information provided is for reference only and advised users to verify with airlines directly, indicating that they would not compensate for any financial losses incurred by users [3]. Group 3: Company Background - Hanglv Zongheng is a product of China Civil Aviation Information Network Co., Ltd., which is the only state-owned enterprise specializing in information services for civil aviation in China [12]. - Established in 2001, the company serves nearly 30 domestic airlines and 200 regional and international airlines, covering 300 domestic cities and 80 international cities [12].

Core Points - On November 29, users received false flight cancellation notifications from the airline service platform, TravelZongheng, due to a system malfunction, leading to unnecessary costs for some users [1][2][3] - TravelZongheng's customer service confirmed the system error and stated that the flight information provided is for reference only, advising users to verify with airlines directly [3] Company Overview - TravelZongheng is a mobile service product launched by China Civil Aviation Information Network Co., Ltd., which provides comprehensive travel information services from preparation to arrival [9] - The company is a state-owned enterprise established in 2001, serving nearly 30 domestic airlines and around 200 regional and international airlines, covering 300 domestic cities and 80 international cities [9]

智通财经APP讯，卓创资讯(301299.SZ)发布公告，公司已于2025年11月28日向香港联交所递交发行境外 上市股份(H股)并在香港联交所主板挂牌上市的申请，并于同日在香港联交所网站上刊登本次发行并上 市的申请资料。该申请资料为公司按照香港证监会及香港联交所的要求编制和刊发，为草拟版本，所载 资料可能会适时作出更新和修订。 ...

Core Viewpoint - The company, Zhaochuang Information (301299.SZ), has submitted an application for the issuance of overseas listed shares (H-shares) and for listing on the main board of the Hong Kong Stock Exchange on November 28, 2025 [1] Group 1 - The application was published on the Hong Kong Stock Exchange's website on the same day it was submitted [1] - The application materials were prepared and published in accordance with the requirements of the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange [1] - The information contained in the application is a draft version and may be updated and revised in due course [1]

Core Insights - Huairou District is accelerating the construction of a world-class strategic technology integration development demonstration zone, focusing on highland development in strategic facilities, innovation ecology, technology achievement transformation, talent cultivation, and international cooperation [2] Economic Growth - Since the beginning of the 14th Five-Year Plan, Huairou District has achieved an average annual GDP growth of 5.7%, maintaining a high-quality development index among the top in the city [2] - The modern service industry has seen a significant increase, with its contribution to GDP growth exceeding 80% in the first three quarters of this year [3] Industry Development - The district is enhancing its modern service sector as a key driver for resource aggregation and economic efficiency, with technology and information services maintaining double-digit revenue growth annually [3] - Over 350 key enterprises have been established in the high-end scientific instrument equipment industry cluster, which has been recognized as a national-level characteristic industry cluster [3] Scientific Infrastructure - Huairou Science City has a high density of scientific facilities, with 37 facilities planned, 29 in research status, and 16 open for global sharing [3] - Four major scientific devices have passed national acceptance and are officially operational, contributing to the acceleration of technology facility projects for the 15th Five-Year Plan [4] Talent Acquisition - The district is focused on creating a world-class talent environment, attracting top-tier scientists and researchers, including 93 academicians and 26,000 research personnel [4] - A policy initiative has been implemented to support nearly 2,000 young talents in various aspects such as entrepreneurship, housing, and financing [4] Cultural and Tourism Development - Huairou District is establishing a multi-field coordination mechanism for the integration of agriculture, culture, commerce, tourism, sports, and science, aiming to create a unique cultural tourism development pattern [5] - The district is actively promoting the construction of a national-level tourist resort and a global tourism destination, with initiatives like the development of cycling and hiking routes [5]