经济观察网岚图梦想家2025年下半年以43191台的成绩蝉联高端MPV销量领先地位，全年销量达80248台，同比增长46%。同时，在杰兰路最新出炉的2025年 下半年新能源品牌健康度调研中，岚图梦想家以78.5分的净推荐值(NPS)夺魁，继2024年后再次获得MPV用户净推荐值第一，成为销量与口碑的"双冠王"。 理想MEGA 小鹏X9 极氪009 奔驰V级 威霆 别克至境世家 凭借领先的的技术实力与对用户痛点的针对性洞察，岚图梦想家不仅赢得市场对其成熟产品力的认可，更说明越来越多用户自发推荐，在高端MPV领域建 立起可靠的圈层基本盘。真正的口碑不止于"好用"，而是"值得推荐"。岚图梦想家均价超40万说明了，用户愿意为了可持续的"技术安心感"而长期价值投 资。 岚图梦想家始终坚持"技术为上"的长期主义，聚焦三电、底盘、安全核心领域，率先搭载800V智能超混技术，终结MPV的补能焦虑，凭借不断进化的智慧 底盘，解决MPV"大车难开"的痛点。岚图梦想家还与华为深度联手，率先搭载华为乾崑智能驾驶与鸿蒙座舱，实现智能体验与全维安全的科技跃迁。这一 切创新都紧密围绕用户的高频使用场景展开，最终让顶级技术回归服务于人，让顶 ...

Core Insights - The AITO M7 has achieved cumulative deliveries exceeding 400,000 units, with the extended-range version now available for pre-order starting at 299,800 yuan [1][4] - The AITO M7 is a high-end smart vehicle developed jointly by Seres and Huawei, showcasing a commitment to integrating advanced ICT technologies into manufacturing [4] - In December 2025, AITO set a new monthly delivery record with over 57,000 vehicles delivered, bringing the total for the year to over 420,000 units, leading the high-end new energy vehicle market [5] Company Developments - Huawei and Seres are collaborating to establish a global model for smart manufacturing, integrating AI and various ICT technologies into the Seres Super Factory [4] - The partnership aims to create a safe, efficient, and green smart manufacturing park, enhancing production efficiency and promoting sustainable development [5] - Huawei's ongoing collaboration with GAC Group focuses on building the HarmonyOS ecosystem and enhancing intelligent driving experiences in various vehicle models [5] Industry Trends - In December, the export of new energy passenger vehicles reached 273,000 units, marking a year-on-year increase of 119.8% and accounting for 46.4% of total passenger vehicle exports [6] - Pure electric vehicles constituted 57.9% of new energy exports, with A00 and A0 class pure electric vehicles making up 68% of this category [6]

Group 1: Manufacturing and Technology Exports - Chinese "New Energy Vehicles" are rapidly expanding in global markets, showcasing strong growth potential [1] - The "New Energy Equipment" sector is injecting significant green energy capabilities into the global market [3] - Chinese "Industrial Robots" are increasingly entering global production facilities, while "Home Appliances" are experiencing explosive sales worldwide [5] Group 2: Biopharmaceuticals - Chinese "Innovative Drugs" are transitioning from a "follower" position to a "leader" in the global pharmaceutical landscape [7] Group 3: Future Industries - Chinese advancements in "Artificial Intelligence" and "Humanoid Robots" are making strides on the international stage [9] - The "Commercial Space" sector is pursuing ambitious goals in space exploration [11] - The "Low-altitude Economy" is positioning China as a global leader in this emerging market [13] Group 4: Consumer and Service Exports - Chinese "Smart Home" products are becoming integrated into overseas households, enhancing global consumer experiences [15] - The "IP Trendy Toys" sector is showcasing the charm of Chinese culture to international audiences [17] Group 5: Financial and Capital Markets - The Chinese "Financial Capital Market" is gaining prominence, highlighting its potential for international investment [19] - "Cross-border E-commerce" is facilitating the entry of "Chinese Quality Goods" into households around the world [19] Conclusion - By 2025, China's outbound ventures are set to open a new chapter, characterized by technological advancements and mutual trust [21]

文：韦亚军 IPO能募多少还是其次，关键是：市场似乎都相信——2026年，港股IPO依然会延续火爆。 2025年，对于香港资本市场而言，极具标志性。 根据德勤中国发布的《2025年中国内地及香港IPO市场回顾与2026年前景展望》，2025年，港交所共有114只新股上市，同比增长63%； 募资总额达2863亿港元，同比大增227%。 这是自2021年以来港股IPO市场的最强表现，也是港交所时隔4年收再次重返全球IPO融资额第一的位置，超越纳斯达克、纽交所、印度 国家证券交易所等主要交易所。 数量与质量双升 114家IPO、募资2863亿港元 其他募资额居前的企业，还包括三一重工、赛力斯、恒瑞医药、海天味业、三花智控等，均为各自行业的龙头公司。 2025年港股IPO市场的一大亮点，是"A+H"股上市模式的全面爆发。 全年共有19家A股公司成功赴港上市，累计募资约1400亿港元，占港股全年IPO募资总额的近一半。 在前十大IPO中，有6家为"A+H"股企业，涵盖新能源、医药、消费、制造等多个核心产业。这一现象不仅提升了港股市场的"含A量"， 也显著优化了港股的资产结构和行业代表性。 全球IPO数据生变： 港交所募 ...

（原标题：隔夜美股拉升，黄金大涨！） 隔夜美股盘中拉升。黄金、白银、国际油价全线大涨。事关美联储降息，又传出大消息。 1月9日，美股三大指数集体收涨，纳指涨0.81%，标普500指数涨0.65%，道指涨0.48%。其中，道指、 标普500指数均创历史收盘新高。 个股方面，英特尔大涨10.8%。据报道，特朗普周五与英特尔CEO陈立武进行会谈，会后直言双方达成 了"非常棒的交易"，高调宣称美国政府的这笔投资"非常成功"。 特斯拉涨超2%，Meta涨逾1%，苹果、微软、谷歌、亚马逊小幅上涨；奈飞跌超1%，英伟达小幅下 跌。苹果结束日线7连跌。 不过据美联储官员表态，美联储降息预期又生变数。美联储博斯蒂克表示，通胀问题仍是美国经济面临 的主要挑战之一，通胀远高于2%的目标，需要"集中精力"降低通胀。 花旗预计美联储将在3月、7月和9月各降息25个基点，而此前的预测是今年1月、3月和9月降息。 摩根士丹利预计，美联储将在6月和9月各降息25个基点，而此前的预测是今年1月和4月降息。 此外，美国最高法院可能就美国总统特朗普征收关税的合法性作出裁决受到关注，这可能对贸易政策和 国家财政状况产生影响。不过据媒体报道，美国最高 ...

Group 1: Manufacturing and Technology Exports - Chinese "New Energy Vehicles" are rapidly expanding in global markets [1] - Chinese "New Energy Equipment" is contributing significantly to green energy initiatives [3] - Chinese "Home Appliances" are experiencing explosive sales worldwide [5] - Chinese "Industrial Robots" are increasingly integrated into global production facilities [7] Group 2: Biopharmaceuticals and Future Industries - Chinese "Innovative Drugs" are transitioning from a follower to a leader in the global market [9] - Chinese "Artificial Intelligence and Humanoid Robots" are making strides internationally [11] - Chinese "Commercial Space" ventures are pursuing ambitious goals in aerospace [13] - Chinese "Low-altitude Economy" is positioning itself as a global leader [15] Group 3: Consumer and Service Exports - Chinese "Smart Home Products" are becoming part of overseas households [17] - Chinese "IP Toys" are gaining popularity in international markets [19] - Chinese "Cross-border E-commerce" is facilitating the entry of "Chinese Good Products" into homes worldwide [21] Group 4: Financial and Capital Markets - Chinese "Financial Capital Markets" are showcasing significant growth and potential [23] Group 5: Future Outlook - By 2025, China's outbound ventures are set to enter a new chapter, emphasizing technology, brand trust, and collaborative growth [25]

Group 1 - A-shares experienced a significant increase, with the Shanghai Composite Index achieving a 16-day winning streak, closing at 4120.43 points, the highest in over 10 years. The market turnover exceeded 3.1 trillion yuan, marking the sixth instance in A-share history of surpassing 3 trillion yuan in turnover [1] - The food delivery service industry is facing intense competition, leading to a government investigation into market conditions. Major platforms like Meituan and JD Delivery have expressed willingness to cooperate with the investigation [1] - The U.S. Federal Reserve's expectation for a rate cut in January 2026 has diminished significantly, following disappointing non-farm payroll data for December 2025, which showed an increase of only 50,000 jobs, below the expected 60,000 [1] Group 2 - The State Council has announced a comprehensive policy package to promote domestic demand, including optimizing service industry loans and implementing interest subsidies for personal consumption loans [2] - China's CPI rose by 0.8% year-on-year in December 2025, the highest increase since March 2023, while PPI decreased by 1.9% year-on-year, with a narrowing decline compared to the previous month [2] - The Ministry of Commerce has issued a task list for expanding service industry openness in nine cities, focusing on telecommunications, healthcare, finance, and trade [2] Group 3 - Shanghai has released a three-year action plan to support the transformation and upgrading of advanced manufacturing, aiming to add 100 manufacturing enterprises with an annual output value exceeding 1 billion yuan by 2028 [3] - The Hong Kong stock market saw a slight increase, with the Hang Seng Index rising by 0.32%. Notably, MiniMax's stock surged by 109% on its debut [3] - The China Securities Regulatory Commission has introduced a reward system for whistleblowers reporting serious violations in the securities and futures markets, with potential rewards up to 1 million yuan [3] Group 4 - Tianpu Co. is under investigation by the CSRC for significant stock price fluctuations and has announced that it has no plans to engage in AI-related business [4] - The Shanghai Stock Exchange is monitoring several companies, including *ST Zhengping and *ST Yazhen, for potential violations [4] Group 5 - The first batch of fund quarterly reports indicates that equity funds maintained high stock positions, with significant growth in fund sizes driven by net value increases. Fund managers are optimistic about sectors like computing power and semiconductors [5] - The trust industry reported a slight increase in revenue, with Shaanxi Guotou's revenue reaching 2.928 billion yuan in 2025, a year-on-year growth of 0.03% [5] Group 6 - The Ministry of Finance has announced the cancellation of VAT export rebates for photovoltaic products starting April 1, 2026, which may lead to a short-term increase in exports but a long-term decline [7] - A report indicates that Chinese companies dominate the global humanoid robot market, with Zhiyuan holding a 39% market share [7] Group 7 - The latest data shows a 13.5% year-on-year decline in residential land transaction area in 300 cities, with a 10.6% decrease in land transfer fees [8] - The passenger car market in December 2025 saw a retail decline of 14% year-on-year, while new energy vehicles experienced a 2.6% increase [8] Group 8 - The global central banks purchased 45 tons of gold in November 2025, maintaining a high level of net purchases for the year [16] - The international precious metals market saw significant price increases, with COMEX gold futures rising by 1.29% [17]

1月9日，市场监管总局召开2025年综合整治"内卷式"竞争十大制度建设成果专题新闻发布会。会议透 露，下一步，市场监管总局将进一步加快新能源汽车、锂电池和光伏产业相关国家标准研制。 经过多方努力，我国累计发布57项相关国家标准，其中新能源汽车领域发布电动汽车远程服务、换电安 全要求、传导充放电系统等13项国家标准，支撑电动汽车远程操作、车网互动、换电等技术发展。锂电 池领域发布锂电池编码规则等2项国家标准，支持锂电池产品追溯，助力守牢锂电池安全底线。在光伏 领域发布绿色产品评价、地面用光伏组件等42项国家标准，规范光伏组件产品质量性能和绿色评价指标 要求，支撑光伏产品绿色低碳发展。 下一步，市场监管总局将进一步加快新能源汽车、锂电池和光伏产业相关国家标准研制。对于已发布标 准，市场监管总局将通过制作一图读懂、标准云课、专家解读文章或视频加大对标准的宣贯，同时联合 发布十大制度建设成果 市场监管总局竞争协调司副司长赵春雷在会上表示，"内卷式"竞争是一种低价、低质、低水平竞争，不 仅扰乱市场信号、降低市场资源配置效率，侵蚀企业长期竞争力，更影响产业结构优化升级与高质量发 展。为贯彻党中央、国务院关于综合整治"内卷 ...

Core Viewpoint - The National Market Supervision Administration is implementing a comprehensive reform to address "involutionary" competition by establishing a robust regulatory framework aimed at promoting high-quality competition and optimizing industrial structure [1][2]. Group 1: Overview of New Regulations - The ten key regulatory achievements include the new Anti-Unfair Competition Law, implementation measures for mandatory company deregistration, fair competition review regulations, draft guidelines for antitrust compliance in internet platforms, and various standards aimed at enhancing product and service quality in online transactions and specific industries [2][3]. - The regulations are designed to guide platform enterprises in managing antitrust risks and ensuring fair competition, thereby fostering innovation and healthy development within the platform economy [2]. Group 2: Characteristics of the New Regulations - The new regulations exhibit three distinct characteristics: they are problem-oriented, address societal concerns; they emphasize systematic integration to create a closed-loop governance model; and they reflect a tailored approach that balances regulation with development [2]. - The regulations form a comprehensive governance system that includes preventive measures, regulatory actions during operations, and post-event cleanup of dishonest entities, thereby creating a synergistic effect to foster a fair competitive market environment [3].

□ 本报记者徐维庆 1月4日，首届中国"人工智能+"创新创业挑战赛在常州启动，再度表明常州将赛事热度转化为产业发展 强度的决心。 去年12月17日举办的第十四届中国创新创业大赛全国总决赛上，常州企业荣获成长企业组银奖；当月， 在第十四届中国创新创业大赛新能源、新能源汽车和节能环保全国赛上，常州企业包揽成长企业组一二 三等奖，占全国总决赛十六强中的四席。以赛事作为产业"筛选器"，常州借力高端赛会，精准导入产业 体系，在城市发展的坐标轴上，画出一条昂扬向上的攀升曲线。 能源浪潮，常州立潮头 历经十年蓄势，常州已成为新能源产业高地。如何持续拉长长板？常州的选择是"以赛拔节"。 个性定制，全程陪跑 当新能源产业"大树"参天，常州已将目光投向新的"苗圃"。 2025年11月，常州承办第十四届中国创新创业大赛合成生物与生物制造专业赛，江苏光玥生物科技有限 公司荣获一等奖。其突破性技术将工业排放的二氧化碳高效转化为高值天然原料，构建"负碳生产—商 业盈利"的闭环，不仅与常州打造新能源高地同频，更成为布局未来产业的新支点。 光玥生物落户金坛合成生物产业园，正是看中这里"1+5+X"的产业生态。企业可专注于光合微生物的代 谢重 ...