Core Insights - The collaboration between Shaanxi and Jiangsu provinces has strengthened significantly, focusing on various industries and projects, particularly in the context of the "14th Five-Year Plan" and the upcoming "15th Five-Year Plan" [1][3] Group 1: Collaboration Achievements - Over the past five years, the collaboration has led to the establishment of 916 enterprises in Shaanxi, with actual investments exceeding 477 billion yuan, covering over 20 provincial key industrial chains [1] - Various industrial cooperation projects have been successfully implemented, including those in plush toys, traditional Chinese medicine, dairy goats, and automotive parts [1] - A total of 68 industrial parks have been co-built under the collaboration framework, achieving full coverage of "one county, one park" [1] Group 2: Economic Development and Support - The collaboration has injected momentum into the economic development of Han Zhong, with projects in textiles, traditional Chinese medicine, and modern materials being implemented [2] - Shaanxi has invested 19 billion yuan this year to support key county-level industries, enhancing the development of co-built industrial parks [2] Group 3: Focus on Innovation and Technology - Future cooperation will emphasize technology innovation and industrial transformation, with a keen interest in Jiangsu's mechanisms and experiences in these areas [3][5] - Jiangsu's industrial technology research institute serves as a model for Shaanxi, showcasing effective mechanisms for technology transfer and innovation [5][6] - The collaboration aims to enhance agricultural technology transfer and establish a diversified agricultural technology promotion service model [6] Group 4: Strategic Goals and Future Directions - The two provinces plan to deepen cooperation in high-level openness and integration of scientific and technological industries, with a focus on international trade channels and overseas industrial parks [7] - There is an expectation to create high-level innovation platforms and enhance industrial chain collaboration under the "15th Five-Year Plan" [7]

人民财讯12月10日电，2025年，北交所市场的机构调研热情迎来大提升。截至目前，272家北交所公司 接受各类机构调研，覆盖比例超95%，一致魔芋以21次的高频调研成为"明星标的"。调研主体从基金、 券商，扩大到社保基金、知名私募、产业资本以及外资机构。从今年的调研标的来看，机器人、低空经 济、6G、量子科技、AI眼镜等"三新"公司成为机构调研的"香饽饽"。 ...

Core Insights - Economic provinces in China play a crucial role in stabilizing the national economy and driving high-quality development, with a clear roadmap emerging from recent "14th Five-Year" planning proposals [1][2] Group 1: Economic Performance - The top ten economic provinces contribute nearly 20% of the country's area and over 60% of GDP, acting as stabilizers and leaders in high-quality development [2] - In the first three quarters of this year, all nine provinces in the top ten exceeded or matched the national average GDP growth rate, showcasing strong development momentum [2] - Jiangsu's GDP surpassed 10 trillion yuan for the first time, while Shanghai and Hunan both exceeded 4 trillion yuan, raising the entry threshold for the "four trillion club" [2] Group 2: Future Planning - Five of the ten economic provinces have set ambitious goals to lead in various aspects, such as Guangdong aiming to double its economic total by 2035 and achieve per capita GDP at the level of developed countries [3] - Jiangsu emphasizes leading in high-quality development, technological innovation, and promoting common prosperity [3] - Zhejiang aims for significant progress in high-quality development and common prosperity demonstration within five years [3] Group 3: Structural Optimization and New Momentum - Economic provinces are pioneers in optimizing development structures and fostering new growth drivers, with policies promoting digital economy and AI [4][5] - Guangdong has released a detailed plan for digital economy development, including initiatives for data circulation and AI core industries, targeting over 440 billion yuan in scale by 2027 [5] - The focus on emerging industries is evident, with provinces like Zhejiang and Shandong prioritizing AI, new materials, and biotechnology in their planning [5] Group 4: Domestic Demand and Investment - Economic provinces are enhancing domestic demand and stabilizing investment through various initiatives, including significant financial allocations for consumer incentives [6] - Guangdong has allocated 3.5 billion yuan for six major consumer policies, while Jiangsu plans to distribute over 400 million yuan in consumption vouchers [6] - Major infrastructure projects are progressing, such as the completion of key bridges and water resource projects, which are expected to benefit millions [6] Group 5: Reform and High-Level Opening - Economic provinces are actively working on deep reforms and high-level openness, with measures to improve the business environment and integrate into the national market [7] - Sichuan has introduced 25 measures to address business environment challenges, while Henan has developed a plan to support the national market integration [7] - Future focus areas include breaking regional collaboration barriers and testing new mechanisms in emerging sectors like low-altitude economy [7]

2025年，北交所市场的机构调研热情迎来大提升。截至目前，272家北交所公司接受各类机构调研，覆 盖比例超95%，一致魔芋以21次的高频调研成为"明星标的"。调研主体从基金、券商，扩大到社保基 金、知名私募、产业资本以及外资机构。 值得一提的是，部分被调研公司迎来了机构投资者入驻，让北交所专精特新企业价值得以彰显。 参与主体多元化 Wind统计显示，今年以来总共272家北交所公司获调研，覆盖比例达95.10%，机构的调研活动不再局限 于少数明星企业，而是从龙头延伸至细分赛道优质中小企业。 从调研频次上，总共有13家北交所公司今年被调研超过10次，其中一致魔芋年内被21次调研领跑，国航 远洋、威贸电子分别获调研19次和14次。从机构调研家数看，一致魔芋、民士达、纳科诺尔分别吸引 383家、363家、313家机构调研。 调研主体呈现多元化趋势。除了传统的公募基金和证券公司，还有社保基金，以及知名私募如淡水泉、 朱雀基金、东方港湾、上海混沌投资，产业资本如上汽金控、蚂蚁集团等，外资机构红杉中国、麦格理 集团、摩根大通、野村证券、高盛资管、景顺环球等也频繁现身。 万通液压在3月13日迎来包括社保基金在内的49家机构" ...

今年以来，A股上市公司参与设立产业并购基金的热情持续高涨。同花顺（300033）iFinD数据显示， 截至12月9日记者发稿，年内A股市场上市公司参与设立产业并购基金达336只，预计募集规模上限合计 达2790亿元。 北京天驰君泰律师事务所上海分所合伙人孙军伟认为，上市公司积极参设产业并购基金，有助于发现、 培育优质标的，为上市公司在目标行业的扩张或发展进行资产储备。 上市公司热衷参设产业并购基金，是政策、资本与战略三重逻辑共同作用的结果。 去年以来，《关于深化科创板改革 服务科技创新和新质生产力发展的八条措施》（"科创板八条"）、 《关于深化上市公司并购重组市场改革的意见》（"并购六条"）等政策措施相继推出。在政策支持下， A股市场产业整合加快，并购重组市场规模和活跃度大幅提升。数据显示，"科创板八条"发布以来，科 创板新披露产业并购活动超150单。 深圳高禾资本控股有限公司管理合伙人刘盛宇对《证券日报》记者表示，"并购六条"及各地配套政策的 出台，对上市公司参设产业并购基金产生了直接且积极的影响。在政策的鼓励和引导下，上市公司参设 产业并购基金、开展并购交易的动力与意愿显著增强。 从市场运作模式看，当前A ...

应加快完善低空经济的基建配套 当低空经济走向万亿级市场规模，还有哪些领域有待加强？12月6日至8日，在2025大湾区科学论坛低空 经济与航空航天分论坛上，与会嘉宾进行了深入探讨。 哪些领域对低空经济有较大需求？除了物流、文旅等主要领域外，应急救援也受到与会嘉宾的关注。 中国工程院院士、北京航空航天大学教授刘大响在发言时表示，全民免费航空应急救援机制是强国安民 的重大战略举措，目前正在酝酿阶段。据统计，目前我国应急救援的飞行时间每年不到1万小时，原因 是救援的价格比较高，做这个业务的通航机场和公司面临亏损。 刘大响建议，在我国低空经济发展的重要机遇期，要加快构建由政府主导、多方共担的全民普惠型航空 医疗救助体系，惠及各种自然灾害、意外事故、突发特种疾病等情况下的伤病患者。 对于低空业态商业化前景的探讨，既包含航空器最终是否能达到适航标准，也包含软件和硬件的基础配 套是否成熟。 中科星图（688568.SH）高级副总裁、中科星图低空云科技有限公司董事长陈伟在接受第一财经记者采 访时表示，尽管政策在快速完善，但安全建设是一个系统性工程，目前仍有几个关键领域亟待夯实。 在加速低空经济发展的建议方面，刘大响表示，要加快 ...

Core Viewpoint - The low-altitude economy sector has outperformed the broader market during the period from November 24 to December 7, with significant increases in relevant indices [1][2]. Market Performance - The Wind Low Altitude Economy Index rose by 5.46%, outperforming the Shanghai Composite Index by 3.69 percentage points and the CSI 300 Index by 2.52 percentage points, but underperformed the ChiNext Index by 1.02 percentage points [2]. - The National General Aviation Index increased by 6.40%, surpassing the Shanghai Composite Index by 4.63 percentage points and the CSI 300 Index by 3.46 percentage points, while slightly underperforming the ChiNext Index by 0.08 percentage points [1][2]. National Level Developments - The Central Air Traffic Control Office has officially released the "Functional Requirements for National and Provincial Low Altitude Flight Comprehensive Supervision Service Platforms (Version 1.0)" and "Information Interaction Specifications (Version 1.0)", aimed at enhancing the regulation of low-altitude management systems [2]. - The Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued a plan to enhance the adaptability of supply and demand for consumer goods, supporting the construction of aviation flight camps in suitable areas [2]. Regional Initiatives - The Chongqing Municipal Government has issued policies to promote high-quality development of the low-altitude economy, aiming to create a distinctive low-altitude economic innovation city [3]. - Liaoning's 14th Five-Year Plan suggests expanding applications of low-altitude operations in logistics, tourism, and governance [3]. - The Zhejiang Provincial Development and Reform Commission is soliciting opinions on policies to promote high-quality economic development, emphasizing the advancement of civil aviation and low-altitude economy [3]. Company Developments - Wofei Changkong and Hualong Aviation have signed a subscription agreement for 50 AE200 aircraft, marking a significant step towards the commercialization of the "eVTOL + business jet" model [4]. - Zero Gravity Aircraft Industry has made a strategic investment in Xiangyuan General Aviation, aiming to bridge the gap between manufacturing and operational capabilities in the low-altitude economy [4]. - The establishment of the Changsha Low Altitude Industry Development Company with a registered capital of 200 million yuan focuses on general aviation services and public air transport [4]. Investment Initiatives - The Ningbo Transportation Investment Yunzhi Low Altitude Economy Industry Fund has been established with a total scale of 1 billion yuan, focusing on key areas such as intelligent communication and navigation within the low-altitude safety industry chain [5]. Investment Recommendations - The national 14th Five-Year Plan emphasizes accelerating the development of the aerospace and low-altitude economy sectors, with various local governments implementing supportive policies [6]. - Key application scenarios include low-altitude logistics and tourism, with leading eVTOL manufacturers securing orders and expanding overseas [6]. - Relevant companies in the sector include those involved in power/energy systems, complete aircraft manufacturing, air traffic control, and operational maintenance [6].

Group 1 - The first underwater assistive exoskeleton robot was showcased at the Chinese Academy of Sciences Guangdong Science and Technology Achievement Matching Conference [2] - The conference featured 123 major achievements from 33 institutions, focusing on seven key areas including big scientific devices, low-altitude economy, marine ranching, artificial intelligence, new energy storage, biomedicine, and the "Hundred Million Project" [2] - The event aimed to promote the transfer and transformation of the latest high-quality scientific and technological achievements from the Chinese Academy of Sciences in Guangdong [2] Group 2 - The low-altitude economy exhibition attracted many enterprises seeking collaboration, showcasing various drones and real-time flight control screens [2] - In the marine ranching section, a model of the "upwelling marine ranch" gained attention, featuring the co-growth of sea cucumbers, sea urchins, and kelp in a simulated environment [2] - The new energy storage area displayed cutting-edge technologies such as renewable energy liquid hydrogen storage and integrated energy assurance systems [2] Group 3 - The conference also included specialized presentations on new energy storage and biomedicine, facilitating in-depth exchanges among representatives from research institutions, enterprises, and investment organizations [3] - A total of 20 key technology demands were published by enterprises from 11 cities in Guangdong, with an expected investment of 260 million yuan in research funding [2][3] - Over 30 matching activities have been organized throughout the year, involving more than 50 research institutions and over 800 enterprises, significantly bridging the gap between research and industry [3]

"智能经济"也被置于突出位置，其本质是大力推进"数据集+算力+大模型"建设，创新发展智能终端产 品，推进人工智能全域全时高水平应用，创造人机协同、跨界融合的智能经济新模式，促进生产力革命 性跃迁。"十五五"期间将重点推进建设国家新一代人工智能创新发展试验区；打造具身智能创新枢纽； 统筹算力、电力布局，构建覆盖全省的智能算力网络；加快人工智能国产软硬件的适配认证和生态建 设。 12月8日，《中共广东省委关于制定广东省国民经济和社会发展第十五个五年规划的建议》（以下简 称：广东"十五五"规划建议）印发。其中，"产业"一词被提及多达109次，体现出产业建设在未来五年 发展规划重点的核心地位。并且，在产业部署上首次创新设立专栏，系统部署低空经济、智能经济、首 发经济、湾区经济、绿色经济、人文经济、体育经济、银发经济等8大新风口产业发展蓝图，为广东省 建设具有国际竞争力的现代化产业体系划定了清晰的增长新赛道。 南方财经记者梳理发现，这8大新风口并非孤立存在，而是紧密围绕"科技与产业互促双强"与"建设现代 化产业体系"两大核心逻辑展开，共同构成了广东培育新质生产力、抢占未来发展制高点的战略组合。 其核心路径在于构建一个" ...

Core Insights - The "Blue Book" indicates that the next decade is crucial for the success or failure of the low-altitude economy [1][2] - The global low-altitude economy is transitioning from early technological competition to a new phase focused on institutional construction and ecological governance [1] - The key conclusion drawn from comparative studies of major economies is that technological limitations are no longer the primary bottleneck; institutional coordination and governance capabilities are critical for success [2] Industry Challenges - The low-altitude economy faces two main bottlenecks: financial fragility and fragmented governance [2] - Public concerns have shifted from merely ensuring flight safety to broader issues of governance credibility, including noise, privacy, data security, and algorithm transparency [2] Opportunities and Strategic Directions - The "Blue Book" acknowledges China's proactive policy guidance and institutional advantages in the development of the low-altitude economy [2] - Future challenges will not only involve effective risk management but also the ability to transform governance capabilities into sustainable industrial value creation and global competitive advantages [2] - The low-altitude sector is positioned to become a key interface for promoting human-machine collaboration, industrial upgrades, and the development of new productive forces [2] Future Governance Framework - The "Blue Book" provides valuable insights and regulatory coordination ideas for the development of the low-altitude economy in China and globally [2] - The essential future judgment emphasizes that competition will hinge on establishing credible, verifiable, and replicable institutional frameworks rather than merely the number of aircraft launched [2] - The integration of safety and network governance into digital systems is crucial for achieving parallel development of technological innovation and social legitimacy [2] Conclusion - The "Blue Book" calls for global collaboration to build a future governance system for emerging economic spaces, emphasizing the importance of governance in the 21st century [3]