Core Insights - The establishment of the "JD Wuxi Intelligent Robot Industry Base" marks JD Group's first global intelligent robot industrial base, representing a significant milestone in the strategic cooperation between JD and Wuxi, with a total investment of approximately 10 billion yuan [1][6]. Group 1: Project Overview - The project signifies a transition from "project cooperation" to "ecological co-construction," enhancing Wuxi's manufacturing capabilities and exemplifying the application of intelligent manufacturing in the Yangtze River Delta [1][6]. - The core structure of the project includes "two parks, one base, and three centers," aimed at integrating innovation, industry, and value chains [3][5]. Group 2: Industrial Ambitions - The "Robot and Advanced Manufacturing Innovation Park" will serve as a platform for rapid product development, while the "Intelligent Driving and High-end Equipment Industrial Park" focuses on drones and unmanned vehicles [3][5]. - The headquarters base aims to attract leading companies and unicorns in the robot sector, creating a manufacturing hub [3][5]. Group 3: Ecosystem Development - The project has already attracted quality enterprises in the robot field, covering key segments such as humanoid robots, core components, AI algorithms, and machine vision [5][6]. - JD's ongoing investment in ecological resources is expected to draw more upstream and downstream companies, forming a complete industrial loop from R&D to manufacturing and application [5][6]. Group 4: Strategic Fit - The collaboration aligns with Wuxi's strong manufacturing foundation and JD's technological capabilities, fulfilling the demand for new dynamics in a manufacturing powerhouse [6][7]. - Wuxi's existing industrial clusters and policies support the growth of the intelligent robot sector, with a target of exceeding 30 billion yuan in industry scale by 2027 [6][7]. Group 5: Application Scenarios - A list of 31 application scenarios and 276 procurement needs for intelligent robots has been published, covering various fields such as industrial manufacturing and healthcare [11][13]. - The project aims to integrate robot technology into everyday life, enhancing service capabilities in Wuxi's manufacturing ecosystem [11][13]. Group 6: Regional Impact - The establishment of the JD Wuxi Intelligent Robot Industry Base is expected to create a strong magnetic effect, attracting related enterprises and forming a robot industry ecosystem that radiates throughout the Yangtze River Delta [13][14]. - The base will serve as a national demonstration site for application scenarios and a global innovation hub for artificial intelligence [13][14].

数据亮眼：经济增速领跑全国一线城市 报告以一连串亮眼数据，勾勒出这座改革开放前沿城市在"十四五"期间攻坚克难、领跑前行的清晰图 景。这份成绩单，不仅是深圳自身发展的阶段性总结，更是观察中国高质量发展实践与全球城市竞争态 势的重要窗口。 报告显示，"十四五"时期，深圳经济综合实力实现大幅跃升。地区生产总值从2020年的2.83万亿元提高 到2025年的3.87万亿元，年均增长5.5%、增速居一线城市首位；规上工业总产值、工业增加值连续4年 保持全国城市"双第一"；外贸进出口总额达4.55万亿元，连续2年保持全国城市首位，五年增量1.5万亿 元、占全国比重11.3%，出口实现"33连冠"。 2月9日上午，深圳市七届人大七次会议开幕，深圳市市长覃伟中代表深圳市人民政府向大会作政府工作 报告。 深圳市政协委员、市政协经济委员会副主任高锦民认为，深圳经济实现跃升，主要得益于科技产业飞速 发展和外贸进出口增长，是科技硬实力和高质量发展的集中体现。从企业增量上看，深圳的国家级专精 特新"小巨人"企业总量跃居全国城市首位，先进制造业增加值占规上工业比重高达68.4%，高锦民认为 展现了深圳前瞻布局新质生产力、培育"20+8" ...

每经记者｜杨欢 每经编辑｜刘艳美 抢抓新一轮技术产业变革主导权，数字经济正在成为核心引擎。 打开全球城市产业规划报告，上面罗列的"未来产业"高度雷同，而ChatGPT等技术的爆发却在这些既定蓝图之外。越来越多的讨论开始指向一个核心矛 盾：在技术路线与产业爆发点都高度不确定的时代，城市赖以成功的"精密规划"传统，是否还能够为其捕捉未来机遇？ 新加坡裕廊工业区是亚洲最早成立的开发区之一，也是新加坡工业发展史上的一张金字招牌。放大来看，新加坡在短短几十年时间跃升为发达国家，其经 济腾飞与产业园区的发展规划密不可分，而在这背后作为新加坡工业园规划和运营官方机构的裕廊集团也扮演了重要角色。 裕廊集团新区发展署总署长刘政彤告诉城市进化论，每个裕廊集团开发的园区都有清晰的产业定位，旨在培育强大生态系统并深化企业协作。例如，裕廊 创新区聚焦先进制造业，纬壹科技城侧重生物医药、科学、工程、信息与通信技术等产业，而榜鹅数码园区则专为数字经济而建。 榜鹅数码园 区区位示意图 图片来源：裕廊集团（JTC） 不久前，我们受邀到榜鹅数码园区进行了实地调研探访。作为新加坡首个智慧型可持续商业园区，新加坡希望这个项目能够成为未来20年数字城 ...

"五个着力"是开局关键 上海市政府副秘书长、市发展改革委主任顾军表示，今年是"十五五"开局之年，全市生产总值增长预期 目标为5%左右。为奋力实现"十五五"良好开局，关键是"五个着力"。 2月7日，上海市人民政府举行市政府主题记者会。上海市发展改革委、市经济信息化委、市商务委、市 科委、市人力资源社会保障局、市民政局负责人出席，回答中外记者关心的问题。 一是着力以国家战略为牵引，全面深化改革开放。上海将加快"五个中心"建设，深入推进浦东引领区、 自贸试验区及临港新片区、虹桥国际开放枢纽、东方枢纽国际商务合作区等改革开放高地建设，推进长 三角一体化发展，加快将改革开放红利转化为经济发展效益。 二是着力促消费扩投资稳外需，积极扩大有效需求。上海将深入实施提振消费专项行动，放大文旅商体 展联动效应，进一步扩大服务消费。着力扩大有效投资，全年安排重大工程正式项目184项，计划投资 额2550亿元。推动外贸外资稳量提质，实施跨境贸易便利化措施，支持外贸企业开拓多元化市场。 三是着力培育壮大新质生产力，引领产业转型升级。上海将深化前沿领域和硬科技产业布局，落实三大 先导产业"上海方案"、先进制造业转型升级三年行动方案等政策 ...

Core Viewpoint - Shanghai is focusing on developing advanced manufacturing and future industries, leveraging its strengths in AI, talent supply, and industrial collaboration to enhance its innovation ecosystem [1][2]. Group 1: Advanced Manufacturing and AI Development - Shanghai plans to establish 500 advanced intelligent factories and achieve an industrial robot application density of 600 units per 10,000 people during the 14th Five-Year Plan period [1]. - The city accounts for nearly 10% of the national computing power and has launched 138 registered large models, along with breakthroughs in several intelligent computing chips [1]. - Shanghai has issued 1 billion yuan annually in computing power, corpus, and model vouchers to support AI initiatives [1]. Group 2: Future Industry Focus - Shanghai has created a cluster for brain-computer interface and other future industries, achieving significant breakthroughs and being the first in the country to establish a systematic layout [2]. - The city is concentrating on quantum computing, cell and gene therapy, 6G, and controlled nuclear fusion, implementing a "four-in-one" nurturing mechanism for future industries [2]. - A future industry fund with a total scale of 15 billion yuan will be established to guide social capital towards early, small, hard technology, and long-term projects [2]. Group 3: Targeted Industry Development - Shanghai will implement differentiated nurturing plans for key sectors, accelerating product engineering and industrialization in fields like cell and gene therapy and brain-computer interfaces [3]. - Support will be provided for optimizing product design and expanding application scenarios in fields like silicon-based photonics and 6G, which are in the R&D phase [3]. - The city aims to tackle technical challenges in emerging fields such as quantum technology and regenerative medicine, which are still in the exploratory phase [3].

人民网上海2月7日电 (记者葛俊俊)2月7日上午，上海市人民政府举行记者会，上海市商务委主任申卫华 出席并回答记者提问。 上海将采取哪些更有针对性的稳外资举措？针对这一提问，申卫华表示，上海历来是外商投资中国的重 要目的地也是首选地，外资在全市经济社会发展中具有重要地位和作用。 近年来，上海利用外资有以下几个特点： 一是规模稳。2025年，全市实际使用外资达到160.6亿美元，总量占全国比重上升，达到了15.3%，规模 在全国各省市中排到第二位。 二是质量优。"十四五"期间上海高技术产业实际使用外资占比达到33%，较"十三五"提高了10个百分 点。同样体现外资质量的地区总部持续上升，截止去年底，累计认定跨国公司地区总部、外资研发中心 1076家、636家。 三是动能足。2025年，全市新设外资企业达到6300家，新设外资企业家数是增长的，增长了6.8%；合 同外资根据统计是180亿美元，增长了近20%，充分说明在当前环境形势下，上海仍是外商投资的首选 地，是跨国公司全球产业链和供应链布局的首选地之一。 申卫华表示，下一步，将全力做好稳外资的各项工作，着力塑造吸引外资新优势，推动外资稳量提质。 一是扩大高水平对 ...

Core Insights - Shanghai has shown resilience in attracting foreign investment despite global economic challenges, with actual foreign investment reaching $16.06 billion, ranking second among Chinese cities and accounting for 15.3% of the national total [1] - The quality of foreign investment in Shanghai is improving, with high-tech industries accounting for 33% of actual foreign investment during the 14th Five-Year Plan, a 10 percentage point increase from the previous plan [1] - The number of regional headquarters and foreign R&D centers in Shanghai has increased, with a total of 1,076 regional headquarters and 636 foreign R&D centers recognized by the end of last year [1] Group 1 - Shanghai aims to stabilize foreign investment by enhancing its business environment and supporting the transformation and upgrading of foreign enterprises [2] - The city plans to align with international trade rules and expand institutional openness, particularly in key sectors such as telecommunications, healthcare, education, and finance [2] - New foreign investment policies will guide investments towards advanced manufacturing, modern services, high-tech, and energy-saving industries [2] Group 2 - Shanghai's foreign trade is projected to exceed 4.5 trillion yuan by 2025, with growth rates in import and export values surpassing national averages [3] - The city will implement new policies to stabilize foreign trade, focusing on maintaining the basic trade framework and boosting confidence among foreign trade enterprises [3] - A new round of foreign investment policies is expected to be launched in the first quarter of this year [3] Group 3 - Shanghai will enhance cross-border trade facilitation by collaborating with customs, foreign exchange, and tax departments to improve processes such as customs clearance and export tax rebates [4] - The city aims to foster new business models in foreign trade, including the development of cross-border e-commerce and optimizing overseas warehouse services [4] - Initiatives will also focus on service trade and digital trade, with plans to establish a national service trade innovation development demonstration zone [4]

围绕这一目标，浙江将推动经济高质量发展、实施就业优先战略作为两大核心抓手，以产业创新筑牢物质基础，以就业提 质实现发展成果普惠，同时深度融入长三角一体化发展，走出具有浙江特色的共同富裕之路。 "芯模联动"领航 近日，《浙江省"十五五"高质量发展建设共同富裕示范区规划（征求意见稿）》（下称《征求意见稿》）公布，明确到 2030年基本建成高质量发展高品质生活先行区，人均地区生产总值和城乡居民收入接近发达经济体水平。 在夯实共同富裕物质基础上，浙江将科技创新与产业升级深度融合，既以人工智能为核心打造创新高地，又通过先进制造 业集群培育优化现代化产业体系，同时推动长三角产业协同发展。 打造人工智能创新发展高地是浙江的重要战略布局，而"芯模联动"则成为破题关键。早在2025年5月，浙江便出台支持人工 智能创新发展的专项措施，将"芯模联动"列为重点任务。 《征求意见稿》进一步提出，统筹全省算力资源构建多层次算力服务体系，实施"芯模联动"行动，打造世界一流"基础+垂 类"模型群，并营造最优开源开放生态。 作为浙江AI发展的核心引擎，杭州正以"芯模联动"为抓手冲击"AI第一城"，而浙江的算力布局侧重开源共享，并非封闭发 展， ...

本文作者为创金合信基金首席经济学家魏凤春 上期首席视点从政府纠正市场失灵的角度提出了需要从基本面出发进行布局，其背景是预计2026年波动 加剧是市场基本的特征，本周金银铜罕见的波动验证了这一特征。过渡期的市场，周期的错位与驱动力 的转换是市场波动的主要来源，如何通过相对确定性的策略来应对市场的波动是本首席视点着重讨论的 内容。2026年市场的本质是五大周期共振下的结构重塑，波动源于周期错位，机会藏于周期协同。面对 相对高波动环境，关键在于把握政策托底、产业分化、物价回升等较为确定性的逻辑，以周期为纲、以 盈利为锚，应对波动、把握主线。 一、波澜壮阔的一周 在西方经济学和金融学占主导的金融市场，源远流长的中华文化对现代市场的前瞻性判断越来越受到投 资者的关注。2026年岁在丙午，干支为赤马红羊，过去的一周，市场波动剧烈。虽然说波动是市场的常 态，但凡事都有个度，超过了这个度，量变引起质变，节奏和趋势的边界就模糊了。在之前的首席视点 中，我们已经指出：从周期视角与市场运行规律看，波动加大将成为贯穿全年的核心特征。这并非单纯 是周期玄学在起作用，而是国内市场驱动力切换、全球秩序重构与货币政策不确定性共同作用的必然结 ...

2025年，中国企业在资本市场表现活跃，IPO数量与募资规模均呈现增长趋势。数据显示，全年共有大量企业完成上市，涵盖A股、港股及美股市场，其中 A股仍是主要融资渠道。从行业分布看，科技、医疗、新能源等领域企业表现突出，成为IPO热点。 在投资回报方面，部分VC/PE机构通过所投企业成功上市实现显著收益。账面退出回报率显示，多数项目在上市后短期内获得正向回报，但不同行业和市场 的表现存在差异。例如，A股市场首日涨幅较为稳定，而美股市场波动性较大，影响了整体回报水平。 从地区分布来看，北京、上海、深圳等一线城市仍是IPO企业集中地，但二三线城市企业的上市数量也在逐步上升。这反映出更多区域企业具备较强的资本 运作能力，并能够进入主流资本市场。 2025年IPO政策环境总体保持稳定，监管层持续优化发行机制，提升市场透明度。汇率变动对境外上市企业的募资金额产生一定影响，需在统计中进行合理 调整。 2025年中国企业IPO市场呈现出多元化、专业化的发展态势，为投资者提供了更多退出机会，同时也对企业的财务能力和战略规划提出更高要求。 来源：投中嘉川 数据来源: 投中嘉川 CVSource 报告时间: 2026.01 リ』嘉 ...