点 击 蓝 字 关 注 我 们 本文全文共 2692 字，阅读全文约 9 分钟 2025年11月份全社会用电量同比增长6.2% 2025年11月份全社会用电量同比增长6.2% 2025年1—11月全国电力市场交易电量破6万亿千瓦时 同比增长7.6% 2025年全国数字产业业务收入预计同比增长约9% 2025年1—11月份全国规模以上工业企业利润增长0.1% 第一产业 113 亿千瓦时 ( ▲ 7.9% 用电量 第二产业 5654 亿千瓦时 ▲ 4.4% 用电量 工业用电量 A 4.6% 其中 高技术及装备制造业用电量 ▲ 6.7% 第三产业 用电量 1532 亿千瓦时 ▲ 10.3% 充换电服务业用电量 A60.2% 其由 信息传输、软件和信息技术 A 18.9% 城乡居民 生活用电量 1057 亿千瓦时（▲ 9.8% 1 至 11月 12月24日，国家能源局发布11月份全社会用电量等数据。 11月份，全社会用电量8356亿千瓦时，同比增长6.2%。从分产业用电看， 第一产业用电量113亿千瓦时， 同比增长7.9%；第二产业用电量5654亿千瓦时，同比增长4.4%，其中，工业用电量同比增长4.6%，高技术及 ...

12月30日，基于美国经济分析局的数据，下图列出1949年/1982年/2000年/2025年美国投资总额达到峰值时占比最高的五大行 业。 1949年，美国投资主要集中在支撑快速扩张的工业化经济的行业。农业以12%的投资份额位居榜首，电力、铁路、电信和石 油天然气位列前五。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：山上 1982年，投资重心转向石油天然气，占总投资的11%。电信和房地产也日益受到重视，银行业和电力行业亦跻身前五。 2000年，正值互联网泡沫鼎盛时期，电信业投资占比上升，计算机和电子产品也成为主要投资领域。房地产和银行业同样 占据重要地位。 2025年，信息和数据处理行业占据主导地位，但集中度降低。电力、化工产品和房地产紧随其后，各自占据总投资额的5% 至6%左右。 ...

Core Viewpoint - The Shanghai Municipal Commission of Commerce and 16 other departments have issued measures to further expand service consumption in Shanghai, focusing on high-level openness in the service industry [1] Group 1: Expansion of Service Industry - The measures emphasize the expansion of high-level openness in the service industry, particularly in telecommunications, digital industries, healthcare, and cultural tourism [1] - There is a focus on attracting foreign investment projects in value-added telecommunications, biotechnology, and wholly foreign-owned hospitals [1] Group 2: Consumer Demand and Imports - The initiative aims to address the open demand for consumer services, with plans to gradually increase the import of high-quality services in healthcare and culture [1] - Activities such as foreign film exhibitions and collaborative events are to be organized to enhance cultural exchange [1] Group 3: Educational Collaboration - The measures include expanding cooperation with globally renowned universities to establish high-level collaborative educational institutions [1]

由三亚市人民政府主办，《财经》杂志、财经网、《财经智库》、三亚中央商务区管理局、三亚经济研究院共同承办的"三亚·财经国际论坛暨第五 届三亚财富管理大会"于12月27日在三亚举行，主题为"海南自贸港未来定位及三亚新机遇"。 中国服务贸易协会副会长、国务院发展研究中心对外经济研究部原部长、海南自由贸易港建设专家咨询委员会委员赵晋平在论坛上表示，2024年 以来，服务贸易已经进入了强劲增长阶段，特别是服务出口对拉动经济增长的作用逐步增强。"这个时候服务贸易恰恰在发挥作用，帮助我们去应对这 种贸易保护主义泛滥的严峻现实，从服务出口当中寻找新的突破口。" 中国服务贸易协会副会长、国务院发展研究中心对外经济研究部原部长、海南自由贸易港建设专家咨询委员会委员赵晋平 在他看来，海南自贸港不是仅仅依靠自身生产的产品出口来扩大国际市场竞争力，更大程度上是借助地缘优势，让很多企业注册在海南，投资在 海南，继而整合资源来扩大国际市场。 以下为部分发言实录： 赵晋平：谢谢主持人，非常荣幸能够出席三亚财经国际论坛，非常感谢三亚市政府和《财经》杂志社的盛情邀请。 正如刚才主持人所讲的，今天主要围绕服务贸易，特别是服务出口和产业发展之间的关 ...

Group 1 - A winter storm swept through Northern Europe on December 27, resulting in at least two fatalities and widespread power outages affecting thousands of households [1][2] - In Finland, over 120,000 households experienced power outages, particularly severe in the western regions [1] - In Sweden, more than 40,000 households lost power, and multiple railway lines were suspended due to the storm [1][3] Group 2 - In Norway, several ferry routes were suspended, and parts of the E6 highway were closed due to the storm [2] - The storm caused significant damage in Norway, including a roof being blown off an apartment building, leading to property damage [2] - Approximately 11% of telecommunications base stations in Norway were non-operational due to the storm, disrupting mobile phone services [2]

Core Viewpoint - The national industrial and information technology conference emphasized the need to consolidate the positive momentum of the industrial economy as the primary task for 2026, focusing on ten key areas of work, including increasing the supply of green products, trendy products, and products for the elderly, while promoting the "Artificial Intelligence + Manufacturing" initiative [1][3][16]. Group 1: Industrial Economy - The conference highlighted the shift from "promoting stable growth" to "consolidating a positive momentum" in the industrial economy, indicating a focus on quality improvement rather than just stability [3][19]. - It was noted that the industrial economy has shown resilience and vitality, with expected growth rates of 9% for telecommunications business volume and 12% for software business revenue [3][19]. - The emphasis on "consolidation" suggests a long-term strategy to enhance quality and efficiency, moving away from temporary stimulus measures [20]. Group 2: Supply and Demand - The conference plans to increase the supply of green products, trendy products, and products for the elderly, responding to market demand trends [5][20]. - The focus on domestic demand as a priority reflects a policy shift towards building a strong domestic market [5][20]. Group 3: Traditional and Emerging Industries - The conference outlined plans to enhance traditional industries through "intelligent empowerment" and to develop emerging industries such as integrated circuits, new displays, new materials, aerospace, low-altitude economy, and biomedicine [6][9][24]. - The transition from "digital empowerment" to "intelligent empowerment" indicates a deeper integration of intelligent technologies to drive efficiency and innovation in traditional industries [22]. Group 4: Artificial Intelligence and Manufacturing - The "Artificial Intelligence +" initiative is a key focus, aiming to promote the digital transformation of manufacturing and cultivate key industry intelligent entities and original intelligent enterprises [21][24]. - The conference aims to support new-generation intelligent manufacturing systems and enhance the industrial internet platform ecosystem [21][24]. Group 5: Quality Enterprises and Innovation - The conference emphasized the cultivation of high-quality enterprises, including "little giant" enterprises and manufacturing champions, while addressing issues like overdue payments to businesses [28][29]. - It was reported that by 2025, over 60,000 technology and innovation-oriented SMEs and 50,400 high-tech enterprises are expected to be cultivated [28]. Group 6: Low-altitude Economy and Communication - The conference highlighted the importance of the low-altitude economy, with plans to establish frequency development guidelines to support its growth [29][15]. - The integration of 5G technology into various sectors is expected to enhance the service capabilities of the information and communication industry [28][29].

Equity Market - The market experienced a slight increase on December 26, with the Shanghai Composite Index rising by 0.1%, marking an eight-day consecutive gain [4] - The total trading volume in the Shanghai and Shenzhen markets reached 2.16 trillion yuan, an increase of 235.7 billion yuan compared to the previous trading day [4] - Over 3,400 stocks in the market declined, indicating rapid rotation of market hotspots [4] Domestic Policies - Jiangsu Province's Finance Department introduced measures to optimize the management of enterprise-related financial funds, aiming to address issues of "dispersed, inefficient, and redundant" fund management [6] - The Ministry of Ecology and Environment announced the fourth batch of excellent cases and lists for beautiful bays, with four locations in Jiangsu selected [6] - The National Development and Reform Commission launched three regional venture capital guidance funds to support entrepreneurship [7] Corporate Developments - Peter Schiff, a Wall Street economist, highlighted the risk of investor confidence in U.S. fiscal and monetary stability for 2026, predicting silver prices could reach $100 per ounce [8] - The Japan Semiconductor Equipment Association reported that sales of chip manufacturing equipment in November 2025 reached 420.67 billion yen, a 3.7% increase year-on-year, marking the 23rd consecutive month of growth [8] - LG Electronics announced the launch of a new gaming monitor with built-in AI technology capable of enhancing content resolution to 5K [8] - Toyota plans to set its global production target for 2026 at over 10 million vehicles, responding to strong demand for hybrid vehicles in North America [8] - Tesla's full self-driving system is expected to launch in the UAE next month, featuring advanced driver assistance capabilities [8]

Core Insights - The national industrial and information technology work conference was held in Beijing from December 25 to 26, highlighting growth expectations for the telecommunications and software sectors in 2025 [1] Industry Growth Projections - Telecommunications business volume and software business revenue are expected to grow by approximately 9% and 12% year-on-year, respectively, in 2025 [1] - Digital industry business revenue is projected to increase by around 9% year-on-year [1] Manufacturing Sector Performance - In the first 11 months of 2025, the added value of high-tech manufacturing and equipment manufacturing industries grew by 9.2% and 9.3% year-on-year, respectively [1] - The core AI industry scale is expected to exceed 1 trillion yuan, and exports of new energy vehicles have surpassed 2 million units [1] Manufacturing Upgrades and Infrastructure - The pace of manufacturing transformation and upgrading is accelerating, with over 7,000 advanced-level and more than 500 excellent-level smart factories established [1] - There are over 20,000 industrial 5G private network projects and more than 8,000 5G factories nationwide [1] - A total of 6,430 national green factories and 491 green industrial parks have been cultivated, with a comprehensive utilization rate of industrial solid waste reaching 57% [1] 5G Development - As of the end of October, the total number of 5G base stations reached 4.758 million, integrating 5G into 91 out of 97 categories of the national economy [1] Regulatory Enhancements - Strengthened personal information protection and APP governance, with ongoing efforts to prevent and manage telecom network fraud [1] Future Initiatives - In 2026, the Ministry of Industry and Information Technology will implement a new round of ten key industry growth stabilization plans, promote high-quality development of characteristic advantageous mineral resource industries, and advance the "AI + manufacturing" special action [1]

转自：扬子晚报 全国工业和信息化工作会议 12月25日至26日，全国工业和信息化工作会议在京召开。会议总结2025年和"十四五"时期工作，分析把 握新形势，研究"十五五"时期重点任务，部署2026年重点工作。记者注意到，会议明确要培育壮大新兴 产业和未来产业，打造集成电路、新型显示、新材料、航空航天、低空经济、生物医药等新兴支柱产 业，支持人工智能攻关。 2025年，工业经济稳中有进。工业经济顶压前行、向新向优发展，实现质的有效提升和量的合理增长， 展现强大韧性和活力。预计全年，电信业务总量和软件业务收入分别同比增长9%和12%左右，数字产 业业务收入同比增长9%左右。产业链供应链韧性持续增强。制造业重点产业链高质量发展行动顺利推 进，突破一批标志性技术和产品。产业科技创新取得新突破。统筹实施国家科技重大专项、国家重点研 发计划。1—11月规模以上高技术制造业、装备制造业增加值同比分别增长9.2%和9.3%，人工智能核心 产业超过万亿元，新能源汽车出口突破200万辆。制造业转型升级步伐加快。累计建成7000余家先进 级、500余家卓越级智能工厂，全国工业5G专网项目超过2万个、5G工厂超过8000家，累计培育 ...

Group 1 - UBS Wealth Management predicts that the Chinese stock market will continue to have upward potential through 2026, driven by advanced manufacturing and technology as new growth engines [1] - The technology sector, which accounts for about half of the MSCI China Index, is becoming increasingly resilient to external shocks and U.S. economic cycles [1] - The Hang Seng Tech Index is expected to see a 37% growth in earnings per share by 2026, with approximately 7 trillion RMB in excess household savings likely to flow into the stock market [1] Group 2 - Barclays anticipates that the Bank of Japan will raise interest rates in July and December of 2026, influenced by the spring wage negotiation cycle [2] - The report emphasizes the importance of wage negotiations as a key factor in the Bank of Japan's monetary policy and its response to the risk of yen depreciation [2] Group 3 - OANDA reports that multiple factors are driving a historic surge in precious metals, with gold potentially reaching $5,000 per ounce and silver $90 per ounce in the coming year [3] - The report attributes the rise to speculative trading, low liquidity at year-end, expectations of long-term Fed rate cuts, a weaker dollar, and increased geopolitical risks [3] - Platinum and palladium prices have surged due to supply constraints and strong industrial demand, with platinum up approximately 165% and palladium over 90% year-to-date [3] Group 4 - CICC suggests focusing on asset trend changes rather than specific gold price predictions, as current gold prices are above short-term valuation models, indicating potential bubbles [4] - The report anticipates that the gold bull market may not end soon, but volatility is expected to increase as prices deviate from fundamental indicators [4] - CICC maintains an optimistic outlook on Chinese assets, emphasizing the benefits of the AI technology wave and ample liquidity, while suggesting a focus on technology growth in the short term [5][6] Group 5 - CITIC Securities highlights the importance of maintaining macro liquidity stability through tools like reserve requirement ratio cuts and interest rate reductions [6] - The report predicts a 5%-10% increase in the overall A-share market in 2026, with Hong Kong stocks expected to experience a rebound in performance [6] - The outlook for commodities includes expectations for gold to challenge $5,000 per ounce and copper prices to rise to $12,000 per ton due to supply constraints and demand drivers [6] Group 6 - CITIC Securities notes a trend of diminishing focus on quantitative targets by the People's Bank of China, with an emphasis on long-term structural reforms [7] - The report indicates that the central bank's policy may shift towards addressing supply-side issues and reducing financing costs [7] Group 7 - Huatai Securities states that the current appreciation of the RMB is likely to enhance foreign interest in RMB-denominated assets, creating a positive feedback loop for capital inflows [8] - The report suggests that the strengthening of the RMB will continue to support the valuation of both onshore and offshore RMB assets [8] Group 8 - CITIC Jin Investment reports that rising storage costs have begun to impact consumer electronics prices, with several manufacturers increasing product prices by 100-200 RMB [9] - The report indicates that the cost pressures from rising storage prices are likely to lead to a temporary decline in consumer electronics sales [9] Group 9 - Galaxy Securities notes that leading liquor companies are adjusting their strategies for 2026, focusing on maintaining price stability and channel profitability amid cyclical pressures [10] - The report emphasizes the importance of developing new consumer segments and adapting to new consumption trends as part of long-term transformation efforts [10]