在这篇文章中，我们将讨论加拿大面临的重大挑战，特别是在特朗普政府的政策下所受到的经济冲击。文章结合了权威资料和个人观点，以下是逐段的改写 内容： 卡尼此次判断失误，没能预见到特朗普的强力反击。特朗普的三记重拳直接击中了加拿大的经济，尤其是在美国和加拿大的贸易关系中，造成了严重影响。 第一记重拳是打向汽车工业。特朗普在执政期间，以"国家安全"为由对从加拿大出口到美国的汽车零部件加征了15%的关税。特别是对安大略省的整车生产 及相关产业影响巨大。这一关税的实施让加拿大的汽车产业走廊陷入困境，供应链受到严重破坏，工人失业情况严重，安省有百万名汽车工人抱怨不断，许 多工厂停工，汽车出口量减少了近三成。 第二记重拳则是打向石油产业。加拿大长期以来依赖向美国出口石油，但特朗普政府突然要求将结算价格降低到德州油价的80%，打着公平交易的旗号，实 际上是在通过压低价格来剥削加拿大。加方每年直接损失超过60亿加元，但却不得不忍气吞声，继续与美国进行"合作"。这一做法让加拿大损失惨重，感到 非常无奈。 第三记重拳最为隐蔽，但造成的伤害却最为严重。美国在其《国家安全战略》中明确提出，不允许外国资本干预西半球的关键领域，特别是航空、 ...

Core Insights - The AI industry is still in its early stages, despite being considered a productivity revolution, and it may take longer than expected to fully realize its potential [4][7][8] - The surge in asset prices in global capital markets has been driven by unprecedented liquidity, necessitating a grand narrative like AI to justify high valuations [4][10][11] - Investment strategies in technology typically progress through three stages: investing in the technology itself, investing in imaginative applications, and finally investing in practical applications [15][18] Investment Landscape - The primary focus of investments from 2022 to 2024 has been on AI infrastructure, embodied intelligence, AI applications, AI in drug development, and future technologies, covering over 80% of recent investments [6] - The primary investment themes have included AI hardware and robotics, with a notable increase in activity starting from the Chinese New Year of 2023 [5][6] - The current investment climate is characterized by a concentration on large models and robotics, with expectations for improvement in the primary market over the next six months [5][6] Market Dynamics - The global capital market's total value has surpassed GDP, reaching approximately $130 trillion, which is over 1.1 times the global nominal GDP of $114 trillion [10][11] - The emergence of ChatGPT in November 2022 provided a rationale for the surge in asset prices, as capital sought a narrative to support the inflated valuations [10][11] - The U.S. financial and tech sectors have shown resilience, with significant contributions from the AI narrative, leading to a situation where major tech companies have market values exceeding the GDP of most countries [11][12] Future Outlook - The AI wave is expected to evolve, with a shift towards practical applications and vertical AI agents, particularly in industries with established digitalization [26][28] - The development of AI hardware is crucial, as new consumer devices will create demand for innovative chips tailored for AI applications [26][28] - The potential for China to surpass the U.S. in AI applications exists, as historical precedents show that extensive application of technology can lead to significant advancements [31]

会议指出，2026年继续实施更加积极的财政政策。一是扩大财政支出盘子，确保必要支出力度。二是优化政府债券工具 组合，更好发挥债券效益。三是提高转移支付资金效能，增强地方自主可用财力。四是持续优化支出结构，强化重点领 域保障。五是加强财政金融协同，放大政策效能。 全国财政工作会议12月27日至28日在北京召开。财政部部长蓝佛安表示，明年财政将大力提振消费。深入实施提振消费 专项行动，继续安排资金支持消费品以旧换新，调整优化补贴范围和标准。 ...

转自：新华财经 新华财经北京12月29日电（王媛媛）29日A股三大指数涨跌不一，沪指微涨走出九连阳，创业板指一度 跌超1%。截至收盘，沪指报3965.25点，涨0.04%，成交9038亿元；深证成指报13537.10点，跌0.49%， 成交12355亿元；创业板指报3222.61点，跌0.66%，成交5440亿元。 板块方面，化纤行业、石油行业、多元金融、航天航空板块涨幅居前，能源金属、医药商业、电池、电 子化学品、中药、电力行业跌幅居前。 消息面上 盘面上，机器人概念午后表现活跃，步科股份20cm涨停创历史新高，五洲新春、模塑科技等多股涨 停。商业航天概念延续强势，神剑股份8连板，金风科技、雷科防务等十余股涨停。碳纤维概念表现活 跃，吉林化纤、和顺科技双双涨停。下跌方面，电池、乳业、电力等板块跌幅居前。其中电池概念午后 震荡下挫，华盛锂电跌超7%。电力板块持续走弱，国电电力跌近8%。 机构观点 巨丰投顾：周一市场震荡运行，PEEK板块涨幅居前。2025年，A股市场在政策驱动下完成筑底反转， 由"叙事牛"向"产业牛"的关键切换已然发生。展望2026年，"十五五"规划扬帆起航，市场核心驱动力正 从"资产重估"逐 ...

Group 1: Market Overview - The A-share market is experiencing two significant trends: the strong performance of the commercial aerospace sector and the continuous rise of the Shanghai Composite Index, which is on track for a potential "9 consecutive days" increase [1][2] - Various sectors such as diversified finance, carbon fiber, gas, and wind power equipment are showing active performance, linked to the trading logic of the commercial aerospace sector [1][2] Group 2: Sector Performance - The carbon fiber sector is witnessing substantial gains, with companies like Guangwei Composite Materials and Jilin Carbon Valley seeing significant stock price increases [5] - The diversified finance sector is also performing well, driven by venture capital concepts, with companies like Luxin Venture Capital hitting the daily limit [4] - The wind power equipment sector is boosted by stocks like Goldwind Technology, which has reached the daily limit, benefiting from the commercial aerospace IPO sentiment [6] Group 3: Regulatory Developments - The Shanghai Stock Exchange has introduced guidelines to support high-quality commercial rocket companies in meeting the fifth set of listing standards on the Sci-Tech Innovation Board, aiming to accelerate the development of the commercial aerospace industry [5] Group 4: Brain-Computer Interface Sector - The brain-computer interface sector is experiencing a surge, with companies like Mylande and Sanbo Brain Science seeing significant stock price increases [7] - The National Medical Products Administration has released a new list of priority approvals for high-end medical devices, including implantable brain-computer interface devices, which is expected to enhance market growth [10] - The global brain-computer interface market is projected to exceed $10 billion by 2030, with significant growth potential in the medical application sector [10]

工业和信息化部信息技术发展司副司长李丽在致辞中指出，下一步，要完善标准体系，强化融合应用， 丰富应用场景。持续推动工业数据在更多场景、更大范围高水平的应用和流通。 人民网北京12月29日电 （记者王震）12月27日下午，2025工业数据要素大会在京成功举办。来自工业 和信息化部有关司局、北京市有关部门、部分省市工业和信息化主管部门、有关科研院所、工业数据要 素领域企业代表等近200人参加会。 中国工业互联网研究院党委书记田川表示，要把握"人工智能+"机遇，构建"数据—模型—智能体"生 态。工联院将突出筑基、建档、强链、降碳四方面服务，完善国家工业互联网大数据中心体系，建好工 业数据资产登记、装备制造业数字供应链平台，用好碳管理平台，同时培育高质量数据集与工业智能体 两大动能，共建安全数据生态，推动AI与制造业融合，助力新型工业化。 （文章来源：人民网） 会上，合肥工业大学教授、博士生导师杨善林以《数据资源与数据产业》为题作专题报告。来自高校及 科研院所的专家学者围绕工业数据要素发表主题演讲，在产业布局、产业发展、技术研究等方面分享了 前瞻观点。来自钢铁、新材料、金融等领域的企业代表分享了所在领域"数智赋能"相 ...

Group 1 - China's National People's Congress Foreign Affairs Committee issued a strong statement to the U.S., indicating a shift from passive defense to active countermeasures in response to external pressures [1][3] - The U.S. has been applying pressure on China through various means, including military sales to Taiwan and the seizure of Chinese vessels, prompting China to formally activate its Anti-Foreign Sanctions Law as a core tool for retaliation [3][4] - The strategic competition between China and the U.S. has entered a new phase, with China adopting systematic and institutionalized countermeasures to ensure compliance with legal procedures [4][8] Group 2 - A U.S. military helicopter forcibly boarded a Chinese oil tanker, highlighting the misuse of judicial power by the U.S. in international waters [6] - China's response to U.S. actions is now characterized by strong legal measures, marking the beginning of a new era of legal countermeasures [8][10] - The cancellation of a 132,000-ton wheat order from U.S. farmers to China signifies a strategic decision to reduce reliance on U.S. agricultural products, despite higher costs from Canadian suppliers [11] Group 3 - The impact of China's countermeasures is felt globally, with U.S. wheat futures dropping 3%, the largest single-day decline in three months, and negative growth in exports to China [12] - U.S. companies, such as synthetic rubber manufacturers, are facing anti-dumping investigations amounting to $780 million, leading to production line shutdown risks [12] - China's countermeasures are targeted, focusing on U.S. political constituencies and industries, indicating that provocations will have domestic political consequences [13] Group 4 - In the technology sector, U.S. bans on DJI drones have backfired, as the company holds a 70% market share globally, complicating the search for alternatives and increasing costs for U.S. emergency services [15] - The semiconductor industry is similarly affected, with U.S. chip manufacturers experiencing a drop in capacity utilization to 20% after losing $15 billion in orders from China [17] - The so-called technology blockade has inadvertently accelerated China's innovation, allowing companies like DJI to strengthen their global leadership [18] Group 5 - China's holdings of U.S. Treasury bonds have fallen to $688.7 billion, the lowest since the 2008 financial crisis, signaling a move away from reliance on U.S. dollar assets [20] - The daily processing volume of China's Cross-Border Interbank Payment System (CIPS) has surpassed 4 trillion yuan, indicating a shift in international trade settlements away from the SWIFT system [20] - The U.S. military aid to Taiwan, while appearing generous, imposes heavy financial burdens on Taiwan, revealing the strategic implications of U.S. support [20]

深圳 " 十五五 " 规划建议全文公布 。 12月29日，据深圳发布微信号消息，中共深圳市委关于制定深圳市国民经济和社会发展第十 五个五年规划的建议（《建议》） 全文 公布。 "十五五" 时期 ，深圳经济如何发力？ 现代化产业体系是中国式现代化的物质技术基础，《建议》提到，加快推动新兴产业发展壮 大、未来产业成形成势、传统产业优化升级，持续建设好全球领先的重要的先进制造业中 心。其中，加快新兴产业发展壮大，实施产业创新工程，一体推进创新设施建设、技术研究 开发、产品迭代升级，实施新技术新产品新场景大规模应用示范行动，加快新一代信息技 术、新能源、高端装备、医药和医疗器械、新材料、低空经济、航空航天等战略性新兴产业 集群发展，扩大智能终端、网络与通信、智能网联汽车、集成电路、全屋智能等产业优势。 加快未来产业成形成势，探索多元技术路线、典型应用场景、可行商业模式、市场监管规 则，建立未来产业投入增长和风险分担机制，推动第六代移动通信、生物制造、具身智能、 光载信息、细胞与基因、脑机接口、氢能和核聚变能、量子科技等成为新的经济增长点。 《建议》提到，促进服务业优质高效发展，加快建设具有全球重要影响力的产业金融中心 ...

Group 1 - The core viewpoint is that dividend assets are gaining attention in the current market due to their certainty of returns and defensive characteristics, especially in a rising valuation environment and declining risk-free interest rates [1] - The market shows structural characteristics where some blue-chip stocks have limited price increases but offer attractive dividend yields of 3%-4% combined with annual growth expectations of 5%-10% [1] - Traditional dividend ETFs have seen their dividend yields exceed 5% again, significantly higher than the domestic ten-year government bond yield of less than 2% [1] Group 2 - Among various dividend strategies, the CSI Dividend ETF (515080.SH) is a classic high-dividend representative focusing on energy and finance, currently offering a dividend yield over 5% and demonstrating strong defensive characteristics in bear markets [2] - The CSI Dividend Quality ETF (159209.SZ) emphasizes "growth" and "profit quality," focusing on consumer and pharmaceutical sectors, with its total return index rising over 20% this year, led by Kweichow Moutai as its largest weighted stock [2] - The Hong Kong Dividend Low Volatility ETF (520550.SH) focuses on "high dividends" and "stability," with its total return index increasing over 28% this year, making it an ideal defensive choice during market fluctuations [3] Group 3 - For conservative investors, a combination of "A-share Dividend Quality (growth offensive) + Hong Kong Dividend Low Volatility (high-yield defensive)" is recommended, achieving dual diversification across markets and strategy factors [5] - Both products are characterized by low fees and monthly dividends, making them suitable for long-term holding to smooth out volatility and secure predictable returns [5]

2025年，我国保持支出强度，全年一般公共预算支出超过29万亿元。同时，顺利发行超长期特别国债1.3万亿元，更大力度支持"两重"项目， 加力扩围实施"两新"政策。 央视网消息：12月27日至28日，全国财政工作会议在北京召开。记者从会议上了解到，2025年，我国积极财政政策打出一系列"组合拳"，有力 有效支持经济向新向优发展。 新增地方政府专项债券4.4万亿元。盘活5000亿元债务结存限额，补充地方综合财力。发行5000亿元特别国债补充国有大型商业银行资本，有 力增强信贷投放能力。 值得一提的是，2025年，更加积极的财政政策在供需两端激发消费潜力，出台实施个人消费贷款和服务业经营主体贷款贴息政策。 此外，2025年，更加积极的财政政策精准发力支持高质量发展，大幅增加基础研究投入，组织开展新型技术改造城市试点、中小企业数字化转 型试点。 同时，持续加强民生保障，充实稳就业政策工具。逐步推进免费学前教育，提高国家奖学金、助学金标准，建立育儿补贴制度。数据显示，财 政在中国式现代化建设中的支撑和保障作用越来越强。 中央财经大学财税学院教授白彦锋介绍，"十四五"时期相比上一个五年，我们国家财政实力进一步增强。财政收 ...