南都讯 记者陈栋 11月22日，欧美同学会第四届"双创"大赛新一代信息技术产业赛区决赛在珠海高新区 落下帷幕。本次活动吸引项目代表、归国留学人员代表、企业代表、高校代表、孵化园区、银行及投资 机构等近200人齐聚珠海高新区，共同见证赛事的圆满收官。 珠海是中国第一位留学生容闳的故乡，渴望人才和创新是珠海始终不变的追求。新一代信息技术是珠海 战略性新兴产业的核心支柱，作为首次落地广东珠海的国家级留学人员创新创业赛事，欧美同学会第四 届"双创"大赛自今年4月启动以来，线上关注突破150万人次，成为粤港澳大湾区科技创新的重要平台， 也为留学人才开启"回国创业第一站"提供强力支撑。 珠海高新区为获奖项目提供单个最高100万元的落户奖励，并依托规模超百亿元的珠海发展投资基金， 配套产业扶持与人才住房保障，推动创新成果迅速转化。活动现场，8个优质留学人员项目签署落地意 向，涵盖高端激光器芯片、脑机接口人工视觉、AI神经拟态芯片等前沿方向，与珠海重点产业布局高 度契合。 赛事共吸引510个高水平留学人才项目参赛，覆盖人工智能、具身智能、6G、量子科技等前沿领域。经 过层层选拔，21个项目脱颖而出。获奖项目整体质量亮眼，超9 ...

广发证券 资深宏观分析师 王丹 bjwangdan@ gf.com.cn 广发宏观郭磊团队 摘要 第一， 11 月战略性新兴产业采购经理人指数（ EPMI ）环比回落 7.0 个点至 52.7 。 2014-2024 年 11 月环比平均降幅为 3.0 个点，本月降幅大于季 节性，我们理解与 10 月数据的跳升有关。 10 月一度环比大幅上行 7.3 个点， 10-11 月相当于完成一个倒 V 型波动。从绝对景气度相对于历史同期均值 的位置看， 10 月与 9 月大致相当，略好于 6-8 月（图 1 ）。 正文 11 月战略性新兴产业采购经理人指数（ EPMI ）环比回落 7.0 个点至 52.7 。 2014-2024 年 11 月环比平均降幅为 3.0 个点，本月降幅大于季节性，我 们理解与 10 月数据的跳升有关。 10 月一度环比大幅上行 7.3 个点， 10-11 月相当于完成一个倒 V 型波动。从绝对景气度相对于历史同期均值的位置 看， 10 月与 9 月大致相当，略好于 6-8 月（图 1 ）。 第二， 考虑到 10 月跳升、 11 月跳降的波动，与 10 月相比意义不大。如果与 9 月相比（图 ...

Core Viewpoint - Shandong has prioritized technological innovation as a core element of its development strategy during the "14th Five-Year Plan" period, significantly enhancing its innovation capabilities and achieving its planning goals for high-quality economic and social development [1] Group 1: Technological Achievements - Shandong has made several landmark innovations, including the world's first operational fourth-generation nuclear power plant and the largest solid rocket carrier "Gravity One" [2] - The province has achieved significant breakthroughs in traditional industries, such as the production of the world's thinnest hot-rolled strip steel at 0.6 mm and a 70% reduction in energy consumption in the metallurgy sector [2] - In the chemical industry, Shandong's Dongming Petrochemical developed a technology that reduces crude oil consumption by approximately 60% [2] Group 2: Emerging Industries - Shandong is fostering new industries, with notable advancements in information technology, including the world's first 12-inch silicon carbide substrate and a fully domestically produced server [3] - The province is also making strides in high-end equipment, such as the first semi-fixed rocket sea testing platform in China [3] - In artificial intelligence, Haier launched a smart home model covering nearly 200 million users, while robotics companies are leading in market share for precision gearboxes and collaborative robots [3] Group 3: Technology Transfer and Application - Shandong has implemented 51 technology reform tasks to eliminate barriers to innovation and enhance the service system for technology transfer [4] - The province has initiated 31 provincial-level technology demonstration projects, significantly expanding its hydrogen energy industry from over 500 companies in 2020 to 1,200 [4] - In the first half of the year, Shandong completed 284 pilot projects and verified 318 technological achievements, with 259 successfully transferred to production [4] Group 4: Market and Service Development - Shandong has established a comprehensive technology market that integrates technology trading, enterprise incubation, and financing, with 56,700 technology achievements and a transaction amount of 1.521 billion yuan [5] - The province has built 12 national and provincial-level training bases for technology transfer personnel, training over 8,700 technology managers [6] Group 5: Corporate Innovation Support - Shandong has reinforced the role of enterprises in technological innovation through various supportive policies, with over 90% of major technology projects led by enterprises [7] - The province has allocated over 5.8 billion yuan in financial support to more than 65,000 enterprises, significantly reducing R&D costs and stimulating innovation [8] - Corporate R&D investment has consistently accounted for over 88% of total social R&D investment, maintaining a leading position nationally [8]

文/ 中国上市公司协会学术顾问委员会委员、中关村国睿金融与产业发展研究会 会长 程凤朝 借鉴国际经验，本文提出，科创板未来可从 "融资导向"转向"治理与信披 导向"，通过强化以董事会为核心的内部治理、完善多层次外部制衡、推 行差异化信披，尽快筑牢创新资本循环的基石，孕育出具有全球竞争力的 科技企业。 作为中国资本市场改革的 "试验田"，科创板自2018年宣布设立以来，已成为推动经济向创新驱动转型的重要引擎。然而，随着市场进入深水区，其上市 公司在公司治理与信息披露方面面临的一些深层次课题，正成为推动高质量发展的关键节点。本文剖析了科创板企业治理结构的特殊性及挑战，探讨了信 息披露在创新资本定价中的核心作用与可提升的空间。借鉴国际经验，本文提出，科创板未来可以从"融资导向"转向"治理与信披导向"，通过强化以董事 会为核心的内部治理、完善多层次外部制衡、推行"实质重于形式"的差异化信披，筑牢创新资本循环的基石，孕育出具有全球竞争力的科技企业。 引言：从 "试验田"到"主阵地"的时代命题 2019年7月22日，科创板正式开市。这不仅是中国资本市场的一次制度性突破，更承载着推动科技自立自强、引领经济发展范式变革的战略 ...

Core Insights - The introduction of the "Code-based" site selection mini-program in Huai'an Economic Development Zone significantly enhances the efficiency of industrial land selection by providing clear information about land indicators and surrounding environments [1][2]. Group 1: Innovation in Site Selection - The mini-program addresses issues of information asymmetry and transparency in land promotion, allowing for a more proactive approach to site selection [1]. - Companies can quickly filter available land parcels by scanning a QR code, accessing detailed information about land boundaries, area, planning purposes, and acquisition [2]. - The use of aerial imagery and AI views in the mini-program allows businesses to visually assess the surrounding environment, improving the overall site selection experience [2]. Group 2: Strategic Planning and Industry Development - The mini-program is based on land spatial planning and aligns with the development of key industries such as new-generation information technology, photovoltaic new energy, and automotive components [2]. - The platform promotes the use of existing land for new projects, facilitating the clustering of upstream and downstream industries, thereby creating a comprehensive industrial chain [2]. Group 3: Enhanced Service Efficiency - The mini-program features graded management of land parcels, enabling the generation of land reports and facilitating on-site selection [3]. - A total of 36 projects covering an area of 2,970 acres have successfully utilized this service, demonstrating its effectiveness in attracting significant health industry projects [3]. - Future plans include further integration of digital services and streamlined approval processes to support the development of a "3+3" industrial cluster [3].

高端装备智能化改造及汽车新能源转型等技术迭代需求，促使相关企业集中引才以支撑产能扩张与 技术攻坚。数据显示，工程机械与高端重型装备、精细化工、汽车及零部件3个产业集群人才需求进一 步集中，占比超过半数，合计需求人数较二季度提高5.05个百分点，需求人数占比连续两个季度保持正 增长。 近日，辽宁老工业基地重点产业集群三季度人才需求目录发布，我省民营企业人才需求始终保持旺 盛态势，提出人才需求的民营企业户数和需求人数均较二季度有所增长。 新兴产业人才需求攀升。新能源、新材料、生物医药、数字经济、新一代信息技术、节能、未来产 业等战略性新兴产业人才需求占比较二季度上升0.64个百分点。 岗位、专业需求集中度相对平稳。需求排名前十的岗位分别是销售服务、机械工程师、营销管理、 化工产品生产通用工艺人员、软件工程师、会计师、主管、市场开发、人事专员/经理/主管、电气工程 师，合计需求4657人，占需求总人数的21.01%，人数与占比与二季度相比基本持平，销售服务、机械 工程师的岗位需求仍稳居前两位。 ...

Group 1: Technological Innovation in the Greater Bay Area - The 15th National Games showcased over 130 high-tech products, highlighting the vibrant technological innovation in the Guangdong-Hong Kong-Macau Greater Bay Area [1] - The Greater Bay Area, covering 56,000 square kilometers, has an economic output exceeding $2 trillion, contributing to 1/9 of the national economy with only 0.6% of the land area and 6% of the population [1] - The "Shenzhen-Hong Kong-Guangzhou" innovation cluster has ranked first globally, surpassing the "Tokyo-Yokohama" cluster, while the "Macau-Zhuhai" cluster has been recognized in the world's top 100 innovation clusters [2] Group 2: Investment and Capital Support - The Greater Bay Area has a comprehensive innovation capital system that supports enterprises from inception to maturity, with active private venture capital firms and state-owned capital matrices exceeding 100 billion yuan [3][4] - As of 2024, Guangdong has 2,466 private equity and venture capital fund managers, managing approximately 12,000 funds, leading the nation [4] - The investment from state-owned capital has significantly contributed to the commercialization of core products for innovative companies, as seen in the case of Deep Sea Intelligence [3] Group 3: Financial Innovation - Traditional financial institutions are innovating to support technology-driven enterprises, developing new financial products tailored for companies with intangible assets like patents and trademarks [6][8] - The introduction of climate-friendly financial services, such as the "climate融担" loan product, has provided tailored financial support for environmentally friendly enterprises [6] - Knowledge-based financial products, including the first knowledge property securitization product in the Qianhai cooperation zone, have enabled technology companies to convert intangible assets into development capital [7] Group 4: Cross-Border Collaboration - The Greater Bay Area has established cross-border mechanisms that facilitate seamless passage for events like the first cross-border marathon, enhancing collaboration among the three regions [9] - Infrastructure developments, such as the Hong Kong-Zhuhai-Macao Bridge, have strengthened connectivity, promoting the integration of innovation resources across the region [9] - The first cross-border financing support through knowledge property pledges has been successfully implemented, allowing companies to leverage their intellectual property for funding [11]

创新活水多数来自"草根"。2024年，中小企业独立研发的有效发明专利占比达75.3%。中小企业专利占 比超过七成，证明它们是创新的重要策源地，支持它们就是夯实国家创新发展的基础。但我国中小企业 平均寿命不足3年，"死亡谷"依旧陡峭。社会资本的注入对中小企业成长壮大具有多重战略价值。社会 资本不仅提供直接资金支持，更能带来技术指导、市场资源等增值服务，加速科技成果向现实生产力转 化。 阶段要"早"。要聚焦"投早投小"，瞄准企业从技术研发到市场验证的关键阶段，破解初创期资金缺口难 题。要让社会资本真正向初创期、种子期企业倾斜，解决企业从0到1的"死亡谷"问题。 保持产业链健康需要生力军。我国目前已累计培育科技和创新型中小企业超60万家，专精特新中小企业 超14万家，国家级专精特新"小巨人"企业达1.76万家。专精特新"小巨人"企业以占全国规模以上工业中 小企业3.5%的数量贡献了13.7%的利润，是稳链补链的生力军。遗憾的是，还有很多中小企业卡在首台 套、首轮融资、首批订单三关上。 社会资本"惜小惧早"。中小企业特别是科技型初创企业，具有高风险、高投入、长周期三大特征，这与 传统资金追求安全性、流动性的天性存在矛 ...

Core Points - The Zhongshan Rural Youth Entrepreneurship Competition aims to stimulate innovation and entrepreneurship among rural youth, aligning with the "Hundred Million Thousand Project" to gather significant support for rural revitalization [1][5][7] Group 1: Competition Overview - The competition is themed "Create and Share Hundreds of Millions, Build Dreams in New Countryside" and will take place from mid-November 2025 to January 2026 [1] - It features a multi-dimensional platform for showcasing achievements, storytelling, entrepreneurial competition, and brand promotion [1][5] - The competition will adopt a three-tier evaluation process involving town and street recommendations, city-level assessments, and final evaluations [3][4] Group 2: Competition Tracks - The competition includes three main tracks: Modern Agriculture, New Quality Productivity, and Rural Leisure Tourism [3][4] - The Modern Agriculture track encourages innovation in agricultural production, processing, circulation, and sales, focusing on traditional local products and the introduction of new agricultural varieties [3][4] - The New Quality Productivity track aims to strengthen collective village economies and promote traditional industries through digital transformation and the development of emerging industries [4] - The Rural Leisure Tourism track focuses on enhancing the quality and uniqueness of rural tourism, promoting new business models such as rural homestays and eco-tourism [4] Group 3: Support and Incentives - The competition integrates resources from various departments to provide comprehensive support for participants, including awards and recognition for outstanding projects [6][8] - Awards include the "Top Ten Rural Youth Entrepreneurship Pioneers" and various other recognitions, along with post-competition support services [6] - Media channels will be utilized to enhance the visibility and impact of entrepreneurial projects and participants [6] Group 4: Participation Requirements - Participants must be aged between 18 and 45, with a focus on those actively engaged in rural revitalization and entrepreneurship [8] - All projects must be registered within Zhongshan and comply with relevant laws and regulations, demonstrating positive economic and social impacts [8]

郭晨凯 制图 数说北交所 截至当前，北交所上市公司的中小企业占比近八成，国家级专精特新"小巨人"企业占比超一半。开市以 来，这些企业累计融资超600亿元，平均每家2亿元，资本精准滴灌中小企业创新发展。 "历经四年探索，北交所已在市场特色、产业结构和制度功能上取得关键进展。"中国上市公司协会学术 顾问委员会委员程凤朝在接受上证报记者采访时谈道：其定位精准聚焦于占比超八成的专精特新企业； 产业布局通过五大集群实现了区域联动与"隐形冠军"的培育；同时，持续的制度改革有效增强了市场流 动性与融资功能，战略作用正日益凸显。 市场韧性彰显 制度创新纵深推进 今年以来，北证50指数累计上涨超过50%，上市公司总市值突破9000亿元，流动性与估值水平的同步提 升，充分反映了市场对我国中小企业成长潜力的坚定信心。 上市公司282家，中小企业占比近八成，国家级专精特新"小巨人"企业占比超一半 开市以来累计融资超600亿元，平均每家2亿元 上市公司总市值超9000亿元 开市以来累计分红198.60亿元，16家分红金额超过上市募集资金总额 ◎记者 张雪 2021年11月15日，北京证券交易所鸣锣开市，肩负起"打造服务创新型中小企业主 ...