Group 1 - The chemical industry ETF (516570) led the gains with an increase of 1.99% [2] - The China Securities A50 ETF (560820) rose by 1.83% [2] - The Agricultural 50 ETF (516810) saw an increase of 1.78% [2] Group 2 - The Sci-Tech Innovation 100 Enhanced ETF (588500) was the biggest loser, declining by 2.12% [2] - The Sci-Tech New Energy ETF (588830) fell by 2.08% [2] - The Energy Storage Battery ETF (159566) decreased by 2.02% [2]

为进一步增强企业高价值专利创造能力，指导打通"科技创新-知识产权-投融资"价值链条，落实知识产 权服务月活动部署，2025年8月19日下午，浙江省科创企业上市知识产权加速器举办"金种子"企业上市 加速暨"一月一链"专利培育融资培训会。本次活动得到上海证券交易所的大力支持，由钱塘区市场监督 管理局与钱塘区财政局联合主办，吸引了钱塘区40余家知识产权"金种子"、拟上市企业踊跃参与。 本次培训聚焦两大核心议题：一是由上海证券交易所市场发展部市场服务区域主任李达睿带来题为《科 创板"1+6"政策及产业链布局机遇》的精彩分享。他从政策内核、实施路径与产业赋能三大维度，系统 解读了科创板支持"硬科技"企业的制度设计与规则体系，为企业明晰上市路径、把握资本风口提供了权 威而清晰的行动指南。二是由浙江省知识产权研究与服务中心法律维权部副部长徐佳晶结合实例，深入 浅出地剖析了企业高价值专利培育与专利池构建的策略与实践。 今年以来，钱塘区全面贯彻落实《浙江省专利产业化促进中小企业成长"金种子"计划实施方案》，持续 优化覆盖"金种子"企业全生命周期的服务体系，现已吸纳辖区221家企业加入"金种子企业"培育计划， 指导23家企业及高 ...

Core Insights - The article highlights the development of the Chengxi Science and Technology Innovation Corridor, which has successfully attracted a significant number of high-tech enterprises and financial institutions, creating a robust ecosystem for innovation and investment [5][10]. Group 1: Ecosystem Development - The Chengxi Science and Technology Innovation Corridor has gathered 144 (quasi) unicorn companies, accounting for over 35% of the city's total, and more than 4,000 national high-tech enterprises, representing over 25% of the city [5]. - The corridor has established a technology finance service alliance with 80 member units, including banks, securities firms, and insurance companies, aimed at creating a comprehensive financial service ecosystem for tech enterprises [6][7]. Group 2: Financial Services and Products - The alliance focuses on providing tailored financial products to address the unique needs of tech startups, such as the "Hug Seed Loan," which has provided a total of 2.8 billion yuan in loans to 239 key nurturing "new seed enterprises" over two years [10][15]. - Innovative insurance products, like the first biopharmaceutical research equipment insurance in the province, have been introduced to mitigate risks for high-tech companies [9]. Group 3: Government and Capital Interaction - The government plays a crucial role in facilitating capital flow by establishing funds and providing financial support, with an annual allocation of 1.9 billion yuan for innovation development [12][14]. - A "proactive credit" mechanism has been initiated, allowing banks to assess and grant credit to tech enterprises without direct interaction, enhancing the likelihood of loan approvals for small businesses [15]. Group 4: Challenges and Solutions - Many tech startups face challenges in securing long-term and patient capital, particularly those in sectors with longer return cycles [12]. - The corridor is actively addressing these challenges through various initiatives, including the introduction of a "guarantee service" for talent projects, which has facilitated 1.9 billion yuan in financing [11].

Core Viewpoint - The A-share market is experiencing significant highs, with major indices reaching new peaks, yet investor anxiety is rising due to differing positions in the market [1][2][4]. Group 1: Market Performance - The Shanghai Composite Index has surpassed 3731 points, marking a ten-year high, while the North Stock 50 Index has reached an all-time high, and the ChiNext Index has hit its highest level since February 2023 [2]. - Despite the market's upward trend, there is a growing sense of anxiety among investors, with some feeling left out and others frustrated by stagnant holdings [3][4]. Group 2: Investor Sentiment - The anxiety among investors stems from a psychological phenomenon known as the "anchoring effect," where the historical context of the 3700-point level creates a fear of heights [6]. - The current market structure has evolved significantly since 2015, with the number of listed companies increasing from approximately 2800 to over 5400 and total market capitalization rising from around 50 trillion to over 100 trillion [7]. Group 3: Valuation Insights - The current TTM price-to-earnings ratio for the entire A-share market is 21 times, placing it in the 83rd percentile over the past decade, indicating a balanced valuation rather than extreme highs or lows [9]. - The equity risk premium is currently around 2.95%, suggesting that the market has not yet entered a phase of excessive enthusiasm [9]. Group 4: ETF as a Solution - ETFs are presented as a potential solution to alleviate investor anxiety, as they can track indices and provide exposure to market movements without the need for individual stock selection [5][19]. - ETFs can help investors avoid the pitfalls of "chasing highs" and provide a diversified investment approach, reducing the risk of missing out on market trends [20][21]. Group 5: Strategic ETF Allocation - A balanced ETF strategy should focus on growth potential while maintaining defensive positions, with an emphasis on core broad-based ETFs that are currently undervalued [24][25]. - The construction of an "anti-anxiety" ETF portfolio should consider both growth sectors, such as technology and healthcare, and defensive assets like dividend-paying stocks [27][28].

作为徐州行政、金融、商务、科创等高端功能的集中承载地，鼓楼区、云龙区、泉山区组成的主城区， 正以强劲的发展势头成为区域经济高质量发展的"核心引擎"。 精准调度促落实。围绕"拼经济、促发展"核心目标，徐州建立健全主城区高质量发展调度推进机制，通 过统筹协调、跟踪调度、督导督办"三机制"，推动重点工作从"纸上"落到"地上"。2025年5月，聚焦楼 宇经济、都市工业、特色街区、产业社区四大领域建强产业平台载体，加强现场服务，政企面对面破解 难题，让政策红利加速转化为发展实效。 要素保障强支撑。资金与土地是产业发展的"生命线"。徐州国盛集团与主城三区联合组建"主城区产业 发展基金"，市财政专项安排6000万元城区经济激励资金，全部精准拨付至区财政并建立台账管理，为 项目落地"输血供氧"。在土地保障上，市发改委联合8部门建立都市工业用地联合会商机制，截至目前 已会审9个重点地块，既保障了产业空间，又推动了土地集约利用。 清单管理提效能。2025年，主城区创新推出"一套要点+两套清单"推进机制：工作要点聚焦7大领域，分 解为22项56条具体任务；工作清单按"一业一策""一园一策""一楼一策""一企一策"原则，分季度明确目 ...

Group 1 - The article discusses the challenges faced by small and medium-sized enterprises (SMEs) in recruitment and how digital solutions are improving the hiring process [4][5][9] - The "Hui Lan Seed Program" launched by WeBank and Zhaopin has attracted over 500 SMEs and offers more than 10,000 job positions for graduates [9] - Digital tools such as online dual-selection and video interviews are making recruitment more efficient and precise [8] Group 2 - WeBank provides financing services for SMEs through digital technology, including the "Micro Business Loan" and the upgraded "Bill+" service, which supports the entire lifecycle of bills [15][16] - The "Micro Flash Discount" allows for online operations and quick processing, enhancing convenience for businesses [12][14] Group 3 - WeBank has partnered with third-party insurance institutions to offer "Enterprise + Insurance," providing a wide range of insurance products with a fully online process [23] - This service aims to alleviate the burdens of insurance management for SMEs, ensuring comprehensive coverage [21][23] Group 4 - WeBank has created a VIP lounge for entrepreneurs at Shenzhen Bao'an Airport, addressing the pain points of long security lines and poor waiting experiences [28] - This service is free for SMEs and aims to enhance the travel experience for business owners [28] Group 5 - WeBank's "Enterprise + Promotion" service leverages digital marketing advantages to enhance the visibility of SMEs through video production, live streaming, and advertising [33] - This initiative supports SMEs in gaining broader exposure in the market [33]

Core Viewpoint - The recent developments in China's capital market, including the introduction of new listing standards and the acceleration of reforms, reflect an increasing inclusivity aimed at attracting various resources towards innovation-driven enterprises [1][2]. Financing Side - The capital market reforms during the 14th Five-Year Plan period have significantly improved financing accessibility for technology innovation enterprises at different development stages and governance structures [1]. - New measures include enhancing the adaptability of listing standards, optimizing refinancing criteria, and establishing simplified review processes for mergers and acquisitions [1][2]. Investment Side - Private equity and venture capital funds have invested in 90% of companies listed on the Sci-Tech Innovation Board and the Beijing Stock Exchange, indicating a strong trend towards long-term capital support for innovation [2][3]. - The development of financial asset investment companies (AIC) is expected to stimulate new vitality in venture capital, enhancing the risk management framework [3][4]. Product Side - The capital market is focusing on developing products that support technological innovation, including the introduction of Sci-Tech bonds, ETFs, and REITs targeting sectors like data centers and renewable energy [5][6]. - The expansion of REITs into hard technology fields is anticipated, with recent listings of data center REITs marking a significant step in providing sustainable financial support for the digital economy [5][6].

"'经济共赢圈'不是简单的政策叠加，而是要让每个市场主体都能找准定位、共享成果。"和平街街道相 关负责人表示，街道将以"经济共赢圈"为契机，推动经济发展从"分散发力"向"集群共赢"转变，通过全 周期服务、全链条布局、全要素融通，不断优化为企服务机制，推动产业集群发展，加速科技转化落 地，构建产业融通生态，实现数据有效配置，让"产业更高端、创新更澎湃、城市更美好、人民更幸 福"的愿景照进现实。 据了解，和平街街道细化为企服务机制，针对科创企业量身定制"青年干部联系服务机制"，依 托"1+9+4+N"分层穿透式服务体系，4名"火星计划"青年干部化身政企互动的"超级链接"。他们不仅是 政策的"快递员"，更是企业需求的"翻译官"，通过动态企业画像系统和《服务简报》机制，精准捕捉企 业痛点，让服务直击"靶心"。 同时，街道依托辖区高校、科研院所云集的优势，聚焦"AI+消费"，规划"3+2"产业布局：北部打造高校 人才科创带，中部建设高端科研产业带，南部构建多元发展创新带，同时突出医疗产业和总部经济的集 聚效应，打造"共赢经济圈"，让区域经济"筋骨"更强健。 8月8日，在北京市朝阳区和平街街道地区经济发展促进大会上，"经 ...

Core Insights - Shandong Province's Tai'an City has implemented a "policy guidance + product upgrade + service innovation" approach to enhance credit support for the real economy, with over 90% of new loans directed towards enterprise development [1] - Private enterprise loans have seen a year-on-year increase of 13.79%, indicating improved financial support for the real economy [1] Group 1: Financial Support Initiatives - The financial support policies in the real estate sector have been effectively implemented, resulting in customized financing solutions for 71 "white list" projects, with a total loan disbursement of 9.379 billion yuan [1] - To address financing challenges for small and micro enterprises, banks have facilitated 1,149 transactions amounting to 5.782 billion yuan under the no-repayment renewal loan policy [1] - The "talent loan" policy has been enhanced, with 130 credit loans totaling 616 million yuan issued to support innovation and entrepreneurship [1] Group 2: Credit Product Development - A diverse range of credit products has been developed, including 162 flexible "strong industry loans," providing 69.527 billion yuan to 9,509 enterprises [2] - Loans for "specialized, refined, distinctive, and innovative" enterprises and cultural tourism enterprises have increased by 15.05% and 14.26% year-on-year, respectively, both exceeding the city's average growth rate [2] Group 3: Financial Service Optimization - The Tai'an City Finance Bureau has established various platforms for government-finance-enterprise connections, conducting over 30 unique activities this year to enhance financial accessibility [2] - A direct financial service mechanism for private enterprises has been established, addressing financing needs exceeding 21 billion yuan [2] Group 4: Supply Chain Finance - The development of supply chain finance has been promoted, with 58.11 million yuan in loans provided to 137 core enterprises and their 1,185 upstream and downstream partners [2] - The balance of loans in key areas of inclusive finance in the city has surpassed 110 billion yuan, reflecting a year-on-year growth of 15.43% [2]

Core Viewpoint - The rapid advancement of technology in state-owned innovative enterprises is outpacing the ability of traditional asset evaluation systems to adapt, leading to significant challenges in valuing new technologies and data assets [1][5]. Group 1: Challenges in Asset Valuation - The new regulations from the State-owned Assets Supervision and Administration Commission (SASAC) allow for alternative valuation methods for original and critical technologies, but practical implementation remains problematic [2][10]. - A specific case involving a deep-sea exploration patent illustrates the struggle between the technology team and evaluators over projected market penetration rates, with the technology team predicting over 30% while evaluators suggest only 15% [3][9]. - The evaluation of data assets also faces significant hurdles, as traditional methods fail to account for the unique nature of these assets, leading to undervaluation [15][19]. Group 2: Policy and Regulatory Developments - SASAC is working on improving asset evaluation management systems and revising related regulations to better address the needs of the innovative technology sector [5][20]. - The China Asset Appraisal Association (CAAA) has developed 33 asset evaluation standards, which include guidelines specifically for the evaluation of innovative enterprises [21]. - Future legislative efforts are expected to enhance the regulatory framework for asset valuation, aiming to create a more unified and effective evaluation management system [20].