截至2024年底，乡村CEO培训模式已由政府主导推广至重庆、云南、广西、浙江、广东等17个省市区 309个县，累计培养约6.6万名乡村经营型人才。这些人才活跃在乡村一线，通过盘活乡村闲置资源，带 动村集体和农民增收，成为乡村振兴的新兴力量。 7月22日，人力资源和社会保障部等部门发布新职业信息，"农村集体经济经理人"成为国家认可的新职 业。这一职业的设立，意味着我国乡村振兴战略在人才体系建设方面又有了新的进展。 记者了解到，腾讯可持续社会价值事业部（简称"腾讯SSV"）联合中国农业大学国家乡村振兴研究院， 三年多来创新探索乡村职业经理人（以下简称"乡村CEO"）的培养，其探索培养的方向与实践，与农村 集体经济经理人高度一致，已成为推动新职业发展的重要助力。 专家认为，农村集体经济经理人作为新兴职业，是中国式现代化在乡村治理和经济发展中的具体体现， 因为中国式现代化强调共同富裕、乡村振兴和高质量发展，而农村集体经济经理人的角色恰恰是推动这 些目标落地的关键力量。 中国农业大学文科资深讲席教授、国家乡村振兴研究院常务副院长李小云表示："随着乡村振兴的快速 推进，乡村功能多元化的趋势越来越明显，今天的乡村产业已经远 ...

Group 1 - The 2025 China Internet Conference opened in Beijing, focusing on the theme "Digital Drive New Quality, Intelligent Creation Future," with discussions centered around cutting-edge technologies such as AI, 5G-A/6G, and low-altitude economy [1] - The concept of "intelligent agents" emerged as a key topic, with experts indicating a shift from generative large models to AI agents and agentic AI, marking the transition into an era of intelligent agents [1] - Intelligent agents are defined as a closed loop formed by "large models + memory systems + tool invocation + planning capabilities," enabling not just task execution but also feedback and reflection on execution results [1] Group 2 - The current trend indicates that intelligent agents are moving from concept to practice, with the potential for individuals or teams to possess dozens or hundreds of intelligent agents forming digital teams [1] - The exhibition showcased various technology companies presenting intelligent agent-related content, including China Mobile's AI development platform that allows users to create intelligent agents through simple verbal commands [1][2] - The innovation is said to lower the AI technology barrier, providing users with the opportunity to experience intelligent agent development, shifting the role of users from operators to AI decision-makers [2]

中新网北京7月23日电(记者吴涛)在23日举行的2025中国互联网大会上，AI智能体成为众多与会者讨论 的热门话题。多位嘉宾认为，AI智能体将与互联网深度融合，影响人类的工作、生活。 （文章来源：中国新闻网） 中国工程院院士邬贺铨认为，未来，人工智能将和互联网深度融合，带来新的需求。"AI for Internet和 Internet for AI两个方向都需要着力，一个是互联网怎么适应大流量、高隐私、边缘计算等需求；另一个 角度，广大网友也需要在互联网上更多地应用到AI技术，来满足个性化需求。" 零一万物联合创始人马杰也指出，人工智能将带给创业者更多机会。人类可以基于AI做很多事情，原 来做一个新技术公司是很难的，也需要很多人，现在因为有了AI技术，一个小公司基于AI大模型或 Agent，也有可能成为独角兽公司。 中关村实验室主任、中国互联网协会副理事长吴建平认为，现在人工智能互联网还未实现，但人工智能 绝对会对互联网产生影响。比如改善和优化局部互联网，以前靠人工来纠正的地方，未来可能由"互联 网运维大模型"自动诊断和修复。(完) "未来每个人都将拥有一个由AI智能体组成的数字团队，你的工作就是管理这些数字 ...

证券研究报告|宏观点评报告 [Table_Date] 2025 年 07 月 23 日 [Table_Title] 资产配置日报：商品多头或在撤退 [Table_Title2] 复盘与思考: 7 月 23 日，连续多日的喧嚣急涨行情后，商品市场似乎开始出现降温迹象，股市同样受到影响，上证指数短 暂上破 3600 点后，尾盘收于 3582，债市情绪则逐步企稳，长端利率日内走出多折行情。 国内资产方面，商品市场依旧抢眼。国内商品市场未能延续前两日的普涨行情，多空资金博弈激烈，市场分 歧显著加大。前期一致性的做多情绪有所降温，板块和品种间的走势开始出现明显分化。今日涨幅超过 5%的品种 仅有焦煤和多晶硅，较前两日的 7 只和 5 只明显减少，其中仅焦煤一个品种触及涨停（昨日为 6 只）。即便是领涨 品种，其日内博弈也异常激烈。焦煤期货在经历了夜盘近月合约涨停后，今日早盘一度大幅回落，但尾盘再度强 势拉升至涨停。多晶硅主力合约早盘迅速触及 12%的涨停板，但未能封住，午后回吐大部分涨幅。其他"反内卷" 相关品种，焦炭和生猪分别上涨 3.8%和 1.7%，玻璃、工业硅、热轧卷板和螺纹钢的涨幅均回落至 1%以内，而碳酸 ...

Group 1: Zhang Kun's Investment Strategy - Zhang Kun maintains a focus on core consumer stocks and is optimistic about the long-term resilience of the economy, with a total fund size of 55.047 billion yuan as of Q2 2025 [1] - The performance of Zhang Kun's funds in the first half of the year shows a return of 15.38% for the E Fund Asia Select fund, while the E Fund Blue Chip Select fund returned only 0.83% [1][3] - The top ten holdings include Tencent Holdings, Alibaba-W, and Wuliangye, with significant increases in positions for JD Health and SF Express, while Tencent Holdings saw a reduction [2][3] Group 2: Market Analysis and Outlook - Zhang Kun emphasizes that the current low valuations of holdings reflect expectations of future profit declines, making them attractive for long-term investors [4] - He believes that the economic growth will be driven by market forces, individual dynamism, and technological advancements, with a vision for GDP per capita to reach the level of moderately developed countries by 2035 [3][4] Group 3: Zhu Shaoxing's Investment Focus - Zhu Shaoxing's fund, the Fortune Tianhui Select Growth Mixed Fund, has a scale of 23.544 billion yuan and a stock position of 94.05%, with the top ten holdings accounting for 34.98% of net value [5][6] - The top ten holdings include Guizhou Moutai and Ningbo Bank, with new entries like Jerry Holdings and Guangdong Hongda, while companies like BYD and Luxshare Precision have exited the top ten [6][7] Group 4: Market Conditions and Future Expectations - Zhu Shaoxing notes that the market experienced volatility due to trade tensions but expects a resolution through negotiations, with monetary and fiscal policies actively supporting the market [7][8] - He highlights that the overall valuation of A-shares remains attractive, and the risk-reward ratio for equity assets is favorable, focusing on collecting high-potential companies for long-term value realization [8]

Core Insights - The article emphasizes the rapid integration of AI in the apparel and e-commerce sectors, showcasing practical applications that yield tangible results [2][3]. Group 1: Event Overview - The AI implementation workshop organized by Huxiu Think Tank will take place in Hangzhou on July 29-30, focusing on "AI + Marketing Apparel" [2][6]. - The workshop aims to provide real-world experiences and solutions to industry challenges, moving beyond theoretical discussions [6]. Group 2: Key Speakers and Topics - Notable speakers include Zhao Shenghai from NetEase Cloud Commerce, who will discuss enterprise growth systems from a platform perspective [3]. - Luo Likang from Lingdi Technology will focus on the integration of AI in 3D clothing design and virtual fitting, highlighting the synergy between design and marketing [3]. - Liu Yaping, CTO of "Jiao Ge Peng You," will analyze the real ROI of AI in marketing through live streaming practices [3]. - Lin Zicheng, Operations Director at Weixiang Miaojing, will demonstrate how AI can drive e-commerce operations and expand brand boundaries [3]. Group 3: Unique Value Proposition - The workshop offers hands-on experiences, including visits to live streaming bases and technology centers, allowing participants to witness AI applications in action [4]. - Closed-door discussions will address critical pain points such as demand forecasting, deep user engagement, and flexible supply chain responses [5]. Group 4: Strategic Focus - The workshop is part of a series that connects various AI practical applications across four themes: AI-Agent, AI + Marketing Apparel, AI + Supply Chain, and AI + Organization [6]. - The emphasis is on transforming "technology heat" into "business capability," ensuring that discussions are grounded in real business scenarios [6].

Summary of Key Points from the Conference Call Industry Overview - The conference call discusses the Hong Kong stock market and its potential for revaluation in the context of global economic conditions and fiscal policies [1][2][11]. Core Insights and Arguments - **Global Economic Support**: Global fiscal expansion is expected to support economic growth in the second half of 2025, despite trade headwinds from rising tariffs [1][4]. - **Tariff Impact**: The weighted average tariff in the U.S. rose to 10% in June 2025, with potential increases to 20% if new tariffs are fully implemented, which could marginally slow global trade [3][5]. - **Hong Kong Asset Appeal**: The expectation of a stronger Renminbi (RMB) is likely to enhance risk appetite for Hong Kong assets, benefiting from a weaker U.S. dollar [1][10]. - **Stablecoin Opportunities**: The development of stablecoins is anticipated to create new opportunities in Hong Kong's financial ecosystem, increasing market liquidity and product diversity [1][13]. - **Market Sentiment Recovery**: The Hong Kong stock market is expected to see reduced negative pressures in Q3 2025, with potential early market recovery driven by new tariff negotiations and the rise of competitive Chinese industries [1][15]. Additional Important Content - **Daily Trading Volume**: The average daily trading volume on the Hong Kong Stock Exchange is projected to approach HKD 250 billion, positively correlated with the strength of the RMB [3][26]. - **Foreign Capital Inflow**: There has been a notable inflow of foreign capital into the Hong Kong market, particularly in the context of AI and IPOs, although not as significant as in 2017-2018 [18]. - **Southbound Capital**: Southbound funds now account for 40% of trading in connect stocks, indicating a balanced importance of domestic and foreign capital in the Hong Kong market [19]. - **Banking Sector Recovery**: Major banks in Hong Kong are expected to see a recovery in performance, with valuations currently low compared to international peers [33]. - **Brokerage Sector Growth**: The brokerage sector has experienced significant growth in IPO and refinancing activities, with expectations of continued performance improvement [34]. - **Real Estate Trends**: The Hong Kong real estate market shows signs of stabilization after a prolonged downturn, with recent increases in transaction volumes and rental prices [36][40]. Conclusion - The Hong Kong stock market is entering a new phase of revaluation, supported by global fiscal policies, potential currency appreciation, and the development of new financial products. The outlook for various sectors, including banking, brokerage, and real estate, appears positive, with significant opportunities for investors to capitalize on emerging trends and market dynamics [1][11][24].

Summary of Key Points from Tencent's Conference Call Industry and Company Overview - The conference call focuses on Tencent's strategic initiatives in the AI sector, particularly the development of AI agents and their integration into various business applications [1][2][3]. Core Insights and Arguments - Tencent is building a comprehensive AI ecosystem through tools like Codebody, which integrates multiple models and toolchains to provide a seamless development experience from product design to deployment, particularly benefiting product managers and entrepreneurs [1][2]. - The transition to AI agents involves combining proprietary models with open-source models to enhance reasoning capabilities, impacting both B2B and B2C sectors and creating new competitive barriers [1][2]. - By 2025, Tencent plans to consolidate its AI applications under the CSIG division, with TEG focusing on foundational technology, adopting a dual-engine model of self-developed and open-source models to accelerate problem-solving [1][7]. - Significant advancements have been made in visual, speech, and image generation technologies, with applications in core business areas like gaming and marketing [1][8]. - The Tencent Cloud Intelligent Agent Development Platform, launched in May 2025, aims to help businesses efficiently build stable and secure AI agents tailored to their needs, with monetization through a token-based model [1][9]. Additional Important Insights - The AI assistant, Yuanqi, targets C-end and small B-end users, leveraging Tencent's traffic and ecosystem support, maintaining around 40 million monthly active users, with potential for subscription-based monetization [3][10]. - The shift towards AI agents signifies a broader industry trend where AI evolves from simple assistance to executing complex tasks, impacting the entire AI application value chain [5][6]. - Major tech companies like Microsoft and Google are also investing heavily in AI agents, indicating a competitive landscape where Tencent is restructuring to enhance its capabilities [6][7]. - The IMA Smart Workbench focuses on B-end office scenarios, integrating knowledge management and offering various monetization avenues through subscriptions and customized solutions [12]. - Super apps like WeChat can leverage AI agents to enhance user engagement and streamline services, presenting a significant opportunity for monetization through advertising and subscriptions [13][16]. - AI technology is expected to significantly boost Tencent's advertising revenue, with projections for strong performance in Q2 2025 due to enhanced ad engagement driven by AI capabilities [16]. Conclusion - Tencent's strategic focus on AI agents and the integration of advanced technologies positions the company favorably within the competitive landscape, with substantial growth potential in both advertising and gaming sectors [17][18].

Core Insights - The 2025 China Internet Conference marks the beginning of a new phase in the internet industry, termed "new quality internet," driven by artificial intelligence [2][3] - The internet is evolving into an AI-driven era, with AI agents becoming a core symbol of this transformation [7] Group 1: Internet Development and AI Integration - As of June 2023, China's internet user base reached 1.123 billion, with an internet penetration rate of 79.7%, and approximately half of these users have engaged with AI products [3] - By the end of 2024, it is projected that 249 million users will utilize generative AI products, accounting for 17.7% of internet users [3] - The emergence of large models like Deepseek is expected to increase AI product users to 570 million by 2025, with daily token consumption reaching 10 trillion, a hundredfold increase [3] Group 2: Characteristics of New Quality Internet - The new quality internet is based on the IPv6 protocol and aims to meet the demands of AI, computing networks, data sharing, and integrated networks [4] - The internet's architecture allows for innovation without altering the network for new applications, supporting a flexible and scalable environment for AI development [4][5] Group 3: AI and Internet Mutual Empowerment - The dual empowerment of AI and the internet is expected to generate new applications and experiences, enhancing online consumer interactions and deepening industry applications [6] - AI's integration into consumer internet enhances user experiences through features like virtual fitting rooms and live digital personas, while industry internet leverages data for model training [6] Group 4: Future Outlook and Recommendations - The next decade is seen as critical for the development of AI in the internet sector, with predictions that by 2028, 33% of enterprises will incorporate Agentic AI into their operations [7] - Recommendations for leveraging digital intelligence include policy guidance, innovation-driven breakthroughs in core technologies, and empowering industries through the integration of digital technologies [9][10]

今天，市场的亮点，其实都是和外围相关的。 其一，是美国财长贝森特，昨晚接受采访的时候，提到， 中美 下周一、周二要在瑞典，进行第 三轮贸易谈判，今天商务部也确认了该消息，中美之前暂停加征关税的deadline是8月12日，所以 要谈展期的事情。 其二，是今天一早， 川宝 在社交媒体上发文，宣布和日本、印尼、菲律宾，都谈成了，分别确 定加征15%、19%、19%的对等关税，资本市场最大的风险在于不确定性本身，因此，确认关税 后，市场情绪比较好。 下图，今天日经225大涨3.5%，其中，马自达、斯巴鲁、丰田、三菱、本田，五家汽车厂，涨幅 均在11-18%之间，都是暴涨的状态。 而没在图里的印尼、菲律宾股市，都大涨1.7%左右； 包括港股，作为亚太市场的一部分，也是受益于同样一套逻辑， 恒生指数涨1.6%左右，恒生互 联网、恒生科技，涨幅则更大一些 ，因为整个龙头互联网公司全线大涨，其中股王腾讯，今天涨 近5%，市值破5万亿，股价也创21年恒生科技大牛市以来的新高了。 听说，今天主要是 外资的主动基金 在买腾讯等互联网巨头，这个逻辑我是相信的，因为外资今 天对整体亚太市场预计都是加仓的节奏，而反过来看，对手盘资金， ...