Core Insights - The article discusses the transition of China's urban development from a reliance on real estate to new growth engines, emphasizing the need for innovation and quality improvement in urban governance [1][2][5]. Group 1: Economic Transition - The real estate market in China is undergoing a deep adjustment, with a shift from "supply shortage" to "oversupply" [2]. - The traditional growth model based on land finance and real estate investment is fundamentally changing, necessitating cities to seek sustainable economic engines [2][6]. - The "14th Five-Year Plan" period is characterized by profound changes in supply-demand relationships within the real estate market [2]. Group 2: Urban Development Strategies - Urbanization is transitioning from a rapid growth phase to a stable development phase, focusing on quality improvement rather than large-scale expansion [3]. - Future urban competition will center on industrial innovation, public service quality, governance precision, and living environment rather than land scale and GDP growth [3][6]. - The report highlights that cities like Changzhou, Yantai, and Guiyang are emerging with unique advantages in sectors such as new energy and big data [3][5]. Group 3: New Growth Opportunities - New growth opportunities are identified in technology innovation, high-level openness, and modern urban governance [5]. - Major cities like Beijing and Shanghai are leading in technological innovation, with significant investments in R&D and a concentration of high-tech enterprises [5]. - Smart governance initiatives, such as Hangzhou's "City Brain" and Chengdu's safety perception network, are enhancing urban resilience [5]. Group 4: Future Urban Competitiveness - The future of urban opportunities will depend on cities' ability to precisely position themselves and break away from homogeneous competition [6]. - The ability to effectively manage "stock updates" in the context of a declining population dividend will be crucial for cities to enhance their competitiveness [6].

转自：新华社 新华财经贵阳9月13日电 题：强数字动能 拓发展新局——贵州推动数字经济高质量发展 新华社记者赵新兵、潘德鑫、向定杰 在国家大数据（贵州）综合试验区交流体验中心，正门口一个由圆形LED屏构成的"数据之眼"十分醒 目。这个独特的设计，寓意世界将从这里看见不一样的贵州。 如今，一个个因数据而蝶变的发展故事正在贵州上演。数字经济增速连续9年位居全国前列、上云用云 企业超过3万家、软件和信息技术服务业收入突破1000亿元……贵州不断做强做优数字经济，推进数字 产业化和产业数字化的发展路径愈发明晰，持续拓宽发展格局、构筑发展新优势。 算力奔涌 构筑后发赶超新优势 算力增长3倍、出省带宽扩容180倍、服务器数量增加700倍……经过10多年发展，园区已集通算、智 算、超算于一体，构建起直通北京、上海等20余座城市的高速网络动脉，可为政府部门和金融、互联网 等行业及相关企业提供高速海量存储和计算服务，成为南方规模最大、数据交互最活跃的国家级算力节 点。 当前，抢抓国家深入实施"东数西算"工程机遇，贵州正积极打造面向全国的算力保障基地，以实现数据 从"存起来"到"跑起来""用起来"的转变。 贵安新区大数据和科技创 ...

Core Insights - The event "Invest in Chongqing: Discover Business Opportunities" was successfully held in Hangzhou, marking the first stop of the "County Eastern Tour" brand investment promotion [1][3] - The initiative aims to align with the State Council's directive to support the transfer of industries to the central and northeastern regions, focusing on attracting quality projects that align with Chongqing's industrial development [3] Group 1: Event Overview - The event was organized by the Chongqing Municipal Commission of Commerce and included participation from various associations, showcasing 66 key cooperation projects from 16 districts and open platforms in Chongqing [1][3] - Keynote speeches were delivered by leaders from the Zhejiang Foreign Investment Enterprises Association and the Hong Kong Chamber of Commerce, highlighting Chongqing's achievements in industrial upgrading and business environment optimization [3][5] Group 2: Strategic Focus - Chongqing's Deputy Director of Commerce emphasized the city's core competitiveness and cooperation potential through four keywords: strategic pivot, industrial synergy, Chongqing-Zhejiang cooperation, and service assurance [5] - The city has tailored "policy packages" for investors and established service teams to provide comprehensive support from project planning to operational phases, ensuring a smooth investment experience [5] Group 3: Project Highlights - The showcased projects span various sectors including new energy vehicles, electronic information, equipment manufacturing, modern logistics, big data, biomedicine, and cultural tourism, addressing both local industrial foundations and the transformation needs of eastern enterprises [5][6] - Companies such as Otis shared their successful experiences in Chongqing, indicating a strong interest in deepening industrial chain cooperation and exploring the western market potential [5][6] Group 4: Collaborative Outcomes - The event facilitated preliminary agreements on project implementation details and innovative cooperation models between government and enterprises, paving the way for substantial future collaborations [6]

Group 1: Investment Projects - The company has invested in a data center liquid cooling project through Hangyuan Photothermal (Beijing) Technology Co., Ltd., which utilizes advanced aerospace cooling technology, achieving a PUE of 1.1 and a WUE of less than 0.05 kg/kWh [2] - The company has invested 1,200,000 yuan in Chengdu Shuzhilian Technology Co., Ltd., holding a 0.915% stake as of August 31, 2025 [2] Group 2: Product Development - The company has developed a high-performance T1 AC SPD (surge protective device) for domestic photolithography machines, currently in the sample stage [2] - A new multifunctional protective device against lightning and electromagnetic pulses has been successfully validated in several defense projects [3] Group 3: Financial Performance and Shareholder Returns - Since its listing in 2015, the company has consistently prioritized investor interests, with a total cash dividend amounting to 9,878.11 million yuan over the years, representing 68.52% of the average net profit over the last three fiscal years [3] - The controlling shareholder has not reduced their stake since the company's listing and completed a share increase plan in August 2018, amounting to 1,000.22 million yuan [3] Group 4: Market Confidence and Management - The management expresses confidence in the company's future development despite market fluctuations, attributing any personal share reductions to individual financial needs [3]

据贵州省纪委监委消息：云上贵州大数据（集团）有限公司党委书记、董事长徐昊涉嫌严重违纪违法，目前正接受贵州省纪委监委纪律审查和监察 调查。 ...

徐昊（资料图） 2015年2月，徐昊任贵阳市副市长，2018年1月任贵阳市委常委、副市长，至2021年1月被免职，调任贵 州旅游投资控股（集团）有限责任公司党委书记、董事长。 来源： 贵州省纪委监委 政事儿 据贵州省纪委监委9月12日消息：云上贵州大数据（集团）有限公司党委书记、董事长徐昊涉 嫌严重违纪违法，目前正接受贵州省纪委监委纪律审查和监察调查。 公开简历显示，徐昊，男，汉族，1968年9月出生，浙江宁波人，1987年11月加入中国共产党，1990年7 月参加工作，大学学历，经济学学士。 他曾任：贵阳市白云区副区长，贵阳市经济贸易委员会主任、党委副书记，贵阳市经济贸易委员会主 任、党委书记，贵阳市工业投资（集团）有限公司董事长、党委书记，贵阳国家高新技术产业开发区党 工委副书记、管委会主任，贵州产业技术发展研究院副院长（兼）、党委委员等职。 直线拉升！ 002968，一分钟涨停 2023年12月，徐昊任 云上贵州大数据（集团）有限公司党委书记、董事 长，至此番被查。 据介绍， 云上贵州大数据（集团）有限公司于2018年2月正式挂牌成立，注册资本17亿元， 是由贵州省政府批复成立的省属国有大一型企业，致力 ...

Group 1 - The reform pilot will be launched in 10 regions with a strong economic foundation, collectively accounting for over 25% of the national economic total in 2024 [3] - The pilot areas include Nanjing, Wuxi, Changzhou, Suzhou, and Zhenjiang in Jiangsu Province, with a comprehensive implementation plan consisting of 7 initiatives and 24 measures [3] - The reform aims to facilitate the free and orderly flow of human resources, further promote household registration system reform, and enhance the rights and benefits of residence permit holders [3] Group 2 - The pilot regions will promote the sharing and openness of government data, establish local standards for data sharing, and explore market-oriented pricing for data services [4] - There will be a focus on developing a digital industry system centered around the Internet of Things in Wuxi, and building smart city frameworks in Nanjing and Suzhou based on AI and 5G technologies [4] - The reform will also support the establishment of innovation alliances between enterprises, universities, and research institutions to facilitate the conversion of scientific achievements into marketable products [4] Group 3 - The establishment of a unified urban and rural construction land market will be promoted, along with the orderly entry of rural collective operating construction land into the market [5] - The reform encourages mixed-use land for secondary and tertiary industries and aims to optimize the approval services for new industrial land [5] - There will be efforts to revitalize existing construction land through various methods, including industrial upgrades and comprehensive remediation [5]

2023年12月，徐昊任云上贵州大数据（集团）有限公司党委书记、董事长，至此番被查。 据介绍，云上贵州大数据（集团）有限公司于2018年2月正式挂牌成立，注册资本17亿元，是由贵州省 政府批复成立的省属国有大一型企业，致力于服务全省大数据战略行动和国家大数据（贵州）综合试验 区建设。 公开简历显示，徐昊，男，汉族，1968年9月出生，浙江宁波人，1987年11月加入中国共产党，1990年7 月参加工作，大学学历，经济学学士。 他曾任：贵阳市白云区副区长，贵阳市经济贸易委员会主任、党委副书记，贵阳市经济贸易委员会主 任、党委书记，贵阳市工业投资（集团）有限公司董事长、党委书记，贵阳国家高新技术产业开发区党 工委副书记、管委会主任，贵州产业技术发展研究院副院长（兼）、党委委员等职。 2015年2月，徐昊任贵阳市副市长，2018年1月任贵阳市委常委、副市长，至2021年1月被免职，调任贵 州旅游投资控股（集团）有限责任公司党委书记、董事长。 据贵州省纪委监委9月12日消息：云上贵州大数据（集团）有限公司党委书记、董事长徐昊涉嫌严重违 纪违法，目前正接受贵州省纪委监委纪律审查和监察调查。 今年7月，中央第十二巡视组进 ...

Market Overview - On September 11, A-shares saw all three major indices rise, marking a positive start to the month. The Shanghai Composite Index increased by 1.65%, the Shenzhen Component Index rose by 3.36%, and the ChiNext Index surged by 5.15%, with over 4,219 stocks in the market experiencing gains [1] - The ChiNext 50 Index led the gains among major indices, climbing by 5.70%. In the Hong Kong market, the Hang Seng China Enterprises Index increased by 0.25%, while other indices showed mixed results [2][3] - The total trading volume in the Shanghai and Shenzhen markets reached 24,377 billion RMB, significantly higher than the previous trading day [1] Sector Performance - In terms of sector performance, the telecommunications sector led with a 7.39% increase, followed by electronics at 5.96% and computers at 3.71%. No sectors reported declines [5] ETF Market Activity - The ETF market experienced a net inflow of 143.10 billion RMB, indicating heightened market sentiment. Stock ETFs and cross-border ETFs saw substantial inflows of 72.60 billion RMB and 76.69 billion RMB, respectively [6] - Specifically, stock (broad-based) ETFs transitioned from net outflow to net inflow, amounting to 54.88 billion RMB, while industry-specific ETFs continued to see net inflows of 21.99 billion RMB [6][7] - Conversely, bond and money market ETFs faced significant net outflows of 7.82 billion RMB and 3.89 billion RMB, respectively [6] Investment Trends - The market showed a clear preference for broad-based and pharmaceutical sector ETFs, with notable inflows into the SSE 50, innovative pharmaceuticals, and the CSI 500 ETFs [8] - In contrast, the ChiNext, photovoltaic, artificial intelligence, and semiconductor ETFs experienced significant outflows [8][9] Key Focus Areas - The Hong Kong innovative pharmaceutical ETF (159286) is currently undergoing a pullback, with institutions suggesting that this may present a buying opportunity [10] - The largest chemical ETF (159870) has surpassed 18.5 billion RMB in scale, achieving six consecutive days of net subscriptions, despite a reported decline in fixed asset investment in the chemical sector [11] Hotspot Tracking - The renewable energy sector showed strong performance, particularly in the photovoltaic segment, with domestic electric vehicle brands achieving record sales [13] - Analysts predict that the silicon material market may see profitability improvements in the second half of 2025, driven by industry consolidation and reduced competition [13]

Core Viewpoint - The establishment of Beijing Data Group marks a significant step in enhancing the national data infrastructure, activating public data resources, and promoting the data industry ecosystem in China [1] Group 1: Establishment and Objectives - Beijing Data Group was officially launched on September 11 at the 2025 Service Trade Fair, indicating Beijing's commitment to data resource management and market-oriented reforms [1] - The group aims to serve as a data resource provider, infrastructure builder, and data circulation service provider, focusing on creating a collaborative and mutually beneficial industrial ecosystem [1][2] - It will explore data property rights, circulation, transaction, revenue distribution, and security governance, aiming to break down data silos and enhance collaboration with data groups across China [1][2] Group 2: Business Scope and Structure - Beijing Data Group is a wholly-owned subsidiary of Beijing State-owned Assets Management Co., with a registered capital of 3 billion yuan [2] - The group will focus on digital transformation for government and enterprises, including digital governance, public health platforms, smart city management, and digital business environments [2][3] - The business architecture is based on "two types of authorization," aiming to streamline data supply, circulation, application, and security [2] Group 3: Data Infrastructure and Security - The group will enhance data infrastructure, including government networks and cloud services, to create a national data circulation and utilization network [3] - It plans to build a national data trading center and a public data authorization platform to facilitate data integration and maximize value [3] - The focus will also be on digital trust infrastructure and expanding into digital and AI security [3] Group 4: Market Trends and Policy Support - The establishment of data groups across various provinces indicates a growing trend in data resource integration and management [4] - The acceleration of data market construction is driven by market demand and policy guidance, as outlined in national reform documents [4][5] - The upcoming "Data Element ×" three-year action plan aims to create over 300 exemplary application scenarios and foster a robust data industry ecosystem [5]