上海市统计局、国家统计局上海调查总队发布《2025年上海市国民经济运行情况》。根据地区生 产总值统一核算结果，2025年，全市实现地区生产总值56708.71亿元，按不变价格计算，同比 增长5.4%。分产业看，第一产业增加值99.39亿元，增长2.0%；第二产业增加值11650.62亿 元，增长3.5%；第三产业增加值44958.70亿元，增长6.0%。详见↓ 2025年，上海坚持以习近平新时代中国特色社会主义思想为指导，全面贯彻落实党 的二十大和二十届历次全会精神，深入贯彻落实习近平总书记考察上海重要讲话精 神，坚决贯彻落实党中央、国务院的决策部署，在中共上海市委坚强领导下，着力推 动高质量发展，加快建设"五个中心"，统筹抓好稳增长、促转型、惠民生、防风险各 项工作，圆满完成了年度目标任务。 一、工业生产稳步增长，新兴动能发展态势良好 2025年，全市工业增加值同比增长5.0%。全市规模以上工业总产值同比增长4.6%。 从行业产值完成情况看，铁路、船舶、航空航天和其他运输设备制造业产值同比增长 15.8%，电气机械和器材制造业产值增长11.1%，汽车制造业产值增长7.8%，计算 机、通信和其他电子设备制造业 ...

Economic Performance - In 2025, China's GDP exceeded 140 trillion yuan, marking a 5.0% growth compared to 2024, showcasing the economy's resilience and innovative momentum [13][14][23] - The economic growth is attributed to a dual approach of "stabilization" and "transformation," focusing on preventing risks while directing resources towards new productive forces [14][15] Innovation and Development - Innovation is positioned as the core driver of China's economic growth, with a shift from traditional factor-driven growth to enhancing total factor productivity [17][18] - China maintains a strong momentum in sectors like artificial intelligence, robotics, and renewable energy, achieving a top ten ranking in the global innovation index [18][19] Trade and Global Cooperation - China's foreign trade demonstrates strong resilience, supported by a complete industrial system and innovative drivers, contributing to high-quality development [19][20] - The country continues to promote an open global economy, implementing policies like zero tariffs in Hainan Free Trade Port, enhancing its attractiveness to global resources [20][21] Long-term Economic Outlook - China's contribution to global economic growth remains around 30%, with expectations of continued positive trends supported by a robust industrial system and innovation capabilities [22][23] - The international community holds a favorable view of China's economic prospects, with organizations like the IMF and World Bank raising growth forecasts for 2026 [23][24]

Core Viewpoint - GCL-Poly Energy (00451) has seen a significant stock price increase, with a nearly 100% rise in the month and a current price of 1.6 HKD, reflecting a 7.38% increase at the time of reporting [1] Group 1: Stock Performance - GCL-Poly Energy's stock rose nearly 7% at the close, with a cumulative increase of close to 100% for the month [1] - The trading volume reached 17.42 million HKD [1] Group 2: Fundraising Announcement - On January 8, GCL-Poly Energy announced plans to issue 186.5 million shares to subscribers, aiming to raise approximately 192 million HKD [1] - The subscriber, Pharos, focuses on building institutional-level tokenized asset applications and is a next-generation Layer 1 blockchain [1] Group 3: Strategic Implications - The investment is expected to leverage Pharos's advanced technology and the company's resources to accelerate the integration of Web3 and the renewable energy sector, creating synergistic value [1] - The board views the subscription as a good opportunity for the company to expand its capital and shareholder base [1]

Core Viewpoint - GCL-Poly Energy (00451) saw a nearly 7% increase in share price, with a cumulative rise of nearly 100% in the month, reaching HKD 1.6 per share, with a trading volume of HKD 17.42 million [1] Group 1: Financial Actions - On January 8, GCL-Poly announced plans to issue 186.5 million shares to the subscriber Pharos, aiming to raise approximately HKD 192 million [1] - The investment from Pharos, a next-generation Layer 1 blockchain focused on institutional-grade tokenized asset applications, is expected to leverage advanced technology and the company's resource advantages [1] Group 2: Strategic Implications - The collaboration is intended to accelerate the integration of Web3 and the renewable energy industry, creating synergistic value for all parties involved [1] - The investment allows the company to explore the potential of blockchain technology for innovation in the renewable energy sector and aims to generate sustainable value for shareholders [1] - The board views the subscription as a good opportunity for the company to expand its capital and shareholder base [1]

1月20日，金博股份跌5.06%，截至发稿，报29.08元/股，成交1.78亿元，换手率2.94%，总市值60.36亿 元。 资料显示，湖南金博碳素股份有限公司位于湖南省益阳市鱼形山路588号，成立日期2005年6月6日，上 市日期2020年5月18日，公司主营业务涉及从事先进碳基复合材料及产品的研发、生产和销售。主营业 务收入构成为：锂电领域产品48.39%，光伏和半导体领域产品26.09%，交通领域产品24.88%，其他(补 充)0.65%。 从金博股份十大流通股东角度 数据显示，景顺长城基金旗下1只基金位居金博股份十大流通股东。景顺长城新能源产业股票A类 （011328）三季度减持3308股，持有股数411.06万股，占流通股的比例为2.01%。根据测算，今日浮亏 损失约637.15万元。 景顺长城新能源产业股票A类（011328）成立日期2021年2月22日，最新规模24.68亿。今年以来收益 8.44%，同类排名1650/5542；近一年收益39.11%，同类排名1975/4235；成立以来收益49.97%。 截至发稿，杨锐文累计任职时间11年91天，现任基金资产总规模259.51亿元，任职期间最佳 ...

Investment Rating - The report assigns a neutral investment rating to the emerging industries sector, with the Emerging Industries PMI (EPMI) at 50, indicating a stable outlook for the industry [1][7]. Core Insights - The EPMI increased by 0.9 percentage points to 50% in January 2026, showing a recovery during the off-season, which is significantly stronger than the same period in the previous two years [2][7]. - Production volume and product orders both rose to mid-levels, driven by policy support and pre-holiday preparations, indicating a seasonal uptick in demand [2][24]. - Export orders increased by 1 percentage point to 44.7%, while import orders rose by 0.9 percentage points to 41.3%, maintaining low levels but suggesting potential for future trade surplus growth [2][32]. Summary by Sections Data Overview - The EPMI for January 2026 is reported at 50, reflecting a 0.9 percentage point increase from the previous month [1][7]. - Key indices include: - Production volume: 53.6, up 1.6 points - Product orders: 48.7, up 1.5 points - Export orders: 44.7, up 1 point - Import orders: 41.3, up 0.9 points [2][26]. Production and Orders - Production volume and product orders have both rebounded, supported by pre-holiday production and policy incentives, indicating a reversal of seasonal trends [2][24]. - The production index is at 53.6, while product orders are at 48.7, both showing positive momentum [24][26]. Prices and Costs - The purchasing price index rose to 53.8, indicating a slight increase in costs, while the sales price index is at 46.9, suggesting that profitability remains somewhat stable [25][26]. - The increase in purchasing prices reflects initial signs of demand recovery [3][25]. Employment and Labor - The employment index stands at 50.1, indicating stable employment conditions, with a slight increase in employee compensation [3][29]. - The report highlights a structural mismatch in talent supply and demand, particularly for high-skilled positions [22]. Export and Import Dynamics - Export orders have shown stability, with a slight increase to 44.7, while imports remain low at 41.3, reflecting ongoing challenges in the international market [32][36]. - Companies are adapting by diversifying markets and enhancing product competitiveness to address export challenges [18][20]. R&D and Innovation - R&D activity and new product launches both recorded an index of 50.1, indicating a stabilization in innovation efforts despite cash flow pressures [3][33]. - Companies are focusing on increasing R&D investments to drive future growth [3][33]. Financing and Liquidity - The difficulty of obtaining loans has risen to 52.5, indicating tighter credit conditions for businesses, particularly for small and medium enterprises [3][34]. - Companies are calling for improved financial support and more flexible financing options to alleviate cash flow pressures [21][35].

中央纪委国家监委网站 柴雅欣 1月19日，2025年中国经济成绩单公布：初步核算，全年国内生产总值1401879亿元，按不变价格计算， 比上年增长5.0%。 2025年是"十四五"规划收官之年。在以习近平同志为核心的党中央坚强领导下，中国经济航船无惧风 雨，顶住多重压力，保持稳中有进发展态势，高质量发展取得新成效。但也要看到，外部环境变化影响 加深，国内供强需弱矛盾突出，经济发展中老问题、新挑战仍然不少。翻开这份成绩单，我们应如何看 待经济数据背后的发展成色？面对新的风高浪急，中国经济航船如何继续乘风破浪、勇毅前行？ 稳中有进：在风浪中稳住了发展底盘、巩固了发展根基 "稳"是2025年中国经济的突出特点。面对外部环境急剧变化，国内困难挑战增多的复杂严峻形势，我国 实施更加积极有为的宏观政策，不仅有效化解外部环境变化的不利影响，更在风浪中稳住了发展的底 盘、巩固了发展的根基。 "全年社会消费品零售总额突破50万亿元，比上年增长3.7%，比2024年加快0.2个百分点，规模居全球零 售市场前列。"康义说。 "中国经济又一次在爬坡过坎中实现全年5%的增长，完成了年初确定的目标。特别是2025年国内生产总 值首次站上 ...

国家统计局1月19日发布数据显示：2025年我国国内生产总值(GDP)首次突破140万亿元，以5%的增速实 现了年初设定的预期目标。消费和工业两大"压舱石"加快增长，消费市场规模突破50万亿元，制造业增 加值达到34.7万亿元，制造业有望继续保持全球第一。 "2025年我国经济顶压前行、向新向优发展，主要的预期目标圆满实现，展现了强大韧性和活力，为今 年经济发展奠定了良好的基础。"国家统计局局长康义19日在国新办新闻发布会上表示。 康义表示，看中国经济，要全面、辩证、长远地看。透过量与质、内与外、形与势的经济"三棱镜"，可 以发现，中国经济不仅实现了规模跃升，还实现了结构向优、动能向新；不仅内需释放出了活力和动 能，外需也彰显了韧性；不仅稳定增长之"形"延续，而且2026年有望继续呈现向好之"势"。 量质齐升：经济顶压前行、向优向新 面对国内外经济环境的复杂变化，2025年经济稳定增长。国家统计局发布的数据显示，全年国内生产总 值达到1401879亿元，按不变价格计算，比2024年增长5.0%。 "2025年经济总量达到了140万亿元，这是一个相当了不起的成绩，充分展现了中国经济稳中有进的态 势、顶压前行的韧 ...

特朗普自从回到白宫快一年了，虽然口号依旧响亮，但其政策比上任时更加激进，尤其是在国际事务中。结果却出乎意料，美国并没有实现再次伟大的目 标，反而让世界变得更加动荡。讽刺的是，特朗普一系列的动作并未使美国受益，反而让他最为敌视的中国，悄然从中受益。 最近，最引人注目的动态发生在北京，而非华盛顿。加拿大总理卡尼在访华的第三天，突然宣布取消对中国电动汽车的100%惩罚性关税。这不仅仅是个技 术性调整，更是一次方向性的大转变。过去加拿大坚定跟随美国，对中国采取强硬立场，但如今，这一政策已被按下暂停键。更引人深思的，是卡尼在公开 场合反复提到的一句话：中国更稳定，也更可预测。这句话的分量，足以让国际政治格局产生波动。为什么加拿大会突然转向？答案并不是立场发生了改 变，而是现实的压力迫使其做出调整。之前那轮加税政策的后果非常明显：中加关系迅速恶化，农业出口受挫，新能源产业链受阻，消费者则不得不为高昂 的价格买单。加拿大并没有因此获得额外的安全保障，反而付出了巨大的经济代价。相比之下，中国的反制措施明确、有限且可预期，谈判的大门始终敞 开。只要回归规则，问题就能得到解决。这一切的关键在于——稳定与可预测性，已成为许多国家重 ...

Group 1 - The article argues that the real factors leading to America's current predicament are rooted in the policies of former President Obama, rather than solely blaming Trump or Biden [1] - Obama inherited a challenging situation in 2009, with the U.S. deeply involved in Iraq and Afghanistan, leading to significant debt accumulation, but also had opportunities due to international political capital gained from the War on Terror [3][5] - The international context was relatively favorable for Obama, with the U.S. maintaining strong military deterrence in the Middle East and a cooperative relationship with China, which helped stabilize the global economy post-2008 financial crisis [7] Group 2 - Despite having a favorable starting position, Obama chose to pursue aggressive foreign policies, such as pivoting to Asia and igniting the Arab Spring, which destabilized the Middle East and led to the rise of ISIS [9][11] - The push for domestic manufacturing was undermined by confrontational policies towards China and chaotic interventions in the Middle East, creating a disconnect between domestic economic needs and foreign policy actions [11] - Obama's administration saw a significant decline in traditional industries, with coal employment dropping from 830,000 to 500,000 between 2009 and 2016, contributing to the rise of populist movements like Trump's MAGA [11][13] Group 3 - The renewable energy sector, while appearing vibrant, failed to achieve expected growth, with subsidies primarily benefiting large corporations rather than fostering competitive industry clusters [13] - Policies emphasizing ESG (Environmental, Social, and Governance) and DEI (Diversity, Equity, and Inclusion) led to increased corporate costs and inefficiencies, shifting focus from productivity to political correctness [13] - The social fabric of the U.S. was fragmented under Obama's leadership, with identity politics leading to divisions and conflicts, ultimately weakening national cohesion [13]