到2035年，上海人均地区生产总值比2020年翻一番。 1月19日，《中共上海市委关于制定上海市国民经济和社会发展第十五个五年规划的建议》（以下简 称"上海'十五五规划建议'"）全文公布。根据上海"十五五规划建议"，上海"十五五"期间将实现经济增 长保持在合理区间、与全国保持同步，全要素生产率稳步提升，制造业保持合理比重，产业引领力、竞 争力持续提高，服务业创新发展取得重大进展，现代乡村产业体系更为健全，新质生产力加快培育，国 际消费中心城市建设取得突破，内需拉动经济增长主动力作用持续增强。 其中，上海在"十五五"时期将加强量子科技、脑机接口、可控核聚变、生物制造、第六代移动通信等领 域敏捷布局；积极推动筹建上海国际金融资产交易平台；支持市场化并购基金、企业风险投资基金、外 资创投基金发展，完善股权投资交易定价机制和退出渠道等。 在此基础上再奋斗五年，到2035年，上海"五个中心"功能全面升级，重要发展指标达到国际领先水平， 城市能级和核心竞争力显著提升，人均地区生产总值比2020年翻一番，基本建成具有世界影响力的社会 主义现代化国际大都市。 加快建设"五个中心" 上海"十五五规划建议"表示，上海在"十五五" ...

Core Viewpoint - By 2035, Shanghai aims to double its per capita GDP compared to 2020, focusing on maintaining economic growth, enhancing productivity, and developing key industries and services [1]. Group 1: Economic Growth and Development Goals - Shanghai's "15th Five-Year Plan" emphasizes achieving reasonable economic growth while synchronizing with national trends, improving total factor productivity, and maintaining a balanced manufacturing sector [1]. - The plan includes significant advancements in service sector innovation and the establishment of a modern rural industrial system [1]. - By 2035, Shanghai aims to upgrade its "five centers" functions, achieving international leadership in key development indicators [1]. Group 2: Key Industry Focus Areas - Shanghai will focus on agile development in quantum technology, brain-computer interfaces, controlled nuclear fusion, biomanufacturing, and sixth-generation mobile communications [1][4]. - The city plans to enhance its international economic center status by developing three leading industries, including integrated circuit equipment and biomedicine [3][4]. - The promotion of artificial intelligence innovation and the establishment of six emerging pillar industry clusters are also key components of the plan [4]. Group 3: Financial Sector Development - Shanghai aims to strengthen its international financial center by establishing a global RMB asset allocation center and risk management center [5]. - The city will enhance financial market connectivity and develop a comprehensive technology-driven financial service system [5]. - Initiatives will include the promotion of green finance and the development of inclusive finance to address challenges faced by small and medium-sized enterprises [5]. Group 4: International Trade and Shipping - The plan emphasizes enhancing Shanghai's role as a global trade hub, focusing on high-value product exports and the development of service trade [6]. - Shanghai will work on becoming a leading international shipping center by improving its global maritime and air transport capabilities [6]. Group 5: Technological Innovation and Talent Development - The plan includes deepening basic research and optimizing investment mechanisms to produce significant original outcomes in high-risk, high-value areas [7]. - It aims to create a talent development system that aligns with technological innovation, fostering a new generation of scientists and entrepreneurs [7]. Group 6: Reform and Opening Up - Shanghai's strategy includes deepening high-level reforms and opening up to enhance the vitality of various business entities [9]. - The city will focus on market-oriented reforms and the establishment of an open economic system [10][11]. - Specific measures will include optimizing state-owned enterprise reforms and supporting the growth of the private economy [9][10].

Core Viewpoint - The article outlines the strategic recommendations for Shanghai's 15th Five-Year Plan, emphasizing the construction of a modern industrial system centered on advanced manufacturing, digital transformation, and green development, aiming to enhance Shanghai's global competitiveness and establish it as a world-class international metropolis [1][2]. Group 1: Economic and Social Development Goals - The 15th Five-Year Plan period is crucial for accelerating the establishment of a globally influential socialist modern international metropolis, with a focus on high-quality development and the enhancement of urban functions [3][4]. - The plan aims for significant achievements in high-quality development, with economic growth synchronized with national trends, improved productivity, and a robust service sector [11][12]. Group 2: Industrial and Technological Innovation - The plan proposes a "2+3+6+6" modern industrial system, focusing on advanced manufacturing, digitalization, and green transformation, while promoting the application of robotics and intelligent manufacturing [15]. - It emphasizes the development of three leading industries: integrated circuits, biomedicine, and artificial intelligence, aiming for breakthroughs across the entire industrial chain [15]. Group 3: Urban and Regional Development - The plan highlights the importance of optimizing urban spatial layout and promoting regional coordinated development, particularly in the Yangtze River Delta region [35][39]. - It aims to enhance the core functions of the city, improve public services, and ensure a balanced urban-rural development [13][36]. Group 4: Financial and Trade Enhancements - The plan focuses on strengthening Shanghai's position as an international financial center, enhancing cross-border financial services, and promoting the internationalization of the Renminbi [19][20]. - It aims to upgrade the international trade center by optimizing trade structures and enhancing the capabilities of service trade and digital trade [22][23]. Group 5: Cultural and Social Development - The plan emphasizes the importance of cultural development, promoting socialist core values, and enhancing the city's cultural soft power [42][43]. - It aims to improve the quality of life for residents, ensuring equitable access to public services and promoting sustainable urban living [13][37].

中共上海市委 关于制定上海市国民经济和 社会发展第十五个五年规划的建议 （2025年12月22日中国共产党上海市第十二届委员会第八次全体会议通过） 中国共产党上海市第十二届委员会第八次全体会议深入学习贯彻党的二十大和二十届历次全会精神， 全面贯彻落实习近平总书记考察上海重要讲话精神，深入分析国际国内形势和事关上海长远发展的重 大问题，就制定国民经济和社会发展"十五五"规划提出以下建议。 一、"十五五"时期是加快建成具有世界影响力的社会主义现代化国际大都市的关键时期 1."十四五"时期上海发展取得显著成就。 "十四五"时期上海发展历程极不寻常、极不平凡。习近平总书记两次亲临上海考察调研，发表重要讲 话，为上海社会主义现代化建设作出新的战略擘画。五年来，在以习近平同志为核心的党中央坚强领 导下，市委坚持以习近平新时代中国特色社会主义思想为指导，把深入贯彻落实习近平总书记考察上 海重要讲话精神作为全部工作的鲜明主题和突出主线，聚焦国家战略任务，践行人民城市理念，奋发 有为、克难攻坚，经受住世纪疫情严重冲击，有效应对外部环境变化风险挑战，推动各项事业取得新 的重大成就。高质量发展扎实推进，经济运行稳中向好，经济总量跻 ...

Core Insights - The "Ten Miles Guitang·Dream Gathering" Youth Talent Innovation and Entrepreneurship Competition in Changsha showcased 30 top teams from over 260 technology projects, focusing on cutting-edge fields such as artificial intelligence, advanced manufacturing, biomedicine, and green technology [1] Group 1: Competition Highlights - The competition format included an "8-minute presentation + 3-minute Q&A," emphasizing both technical and commercial viability [2] - Notable projects included a laser cladding brake disc developed by Changsha Zhirong New Materials, which reduces costs to one-sixth of imported materials, targeting a trillion-level market in automotive industry upgrades [2] - The HUST team presented an AlGaN deep ultraviolet light source, achieving several times higher electro-optical conversion efficiency compared to peers, enhancing semiconductor lighting and sterilization applications [2] Group 2: Learning and Growth - The competition served as a growth platform, with participants gaining valuable insights into company management and operations through expert guidance [3] - The TiB ceramic cutting tool developed by Xiangtan Teli De has a lifespan improvement of over 30% and costs only one-twentieth of imported products, with contracts signed with over 10 companies [3] - The Hunan Precision Intelligent Control Transportation team utilized AI algorithms to enhance traffic light efficiency, improving overall traffic flow by over 10% and reducing queue lengths by approximately 30% in pilot areas [3] Group 3: Ecosystem and Support - The competition also functioned as a resource integration and ecosystem cultivation platform, featuring an "investment intention raising" segment where multiple investment institutions expressed interest in collaboration [4] - Rainflower District, a key area in Changsha, ranked 10th in the national innovation index and is home to 735 high-tech enterprises and 1,075 technology-based SMEs, with a technology contract transaction volume of 51 billion yuan, accounting for 20.4% of its GDP [4] - The district has established eight youth innovation and entrepreneurship platforms and introduced supportive policies like the "Rain Dew Plan" to attract young talent and foster entrepreneurship [4]

为给青年创新创效提供场地、设备、资金、导师等全方位支持，2012年以来，北京共青团打造了青年创 新工作站，构建了"政府引导+企业主体+高校协同"的工作模式。截至目前，全市已建成近200个青年创 新工作站，完成国家重点课题及各类标准编制980余项，获得省部级以上奖项590余个。 2015年，北京共青团等单位联合主办"中关村U30"青年创新创业品牌活动，为优秀创业青年搭建与政 府、社会以及投资机构对接和交流的平台。该项赛事以"寻找改变世界的青年创业力量"为使命，面向全 球选拔35岁以下的优秀青年创业者。11年来，该项赛事已培育出2家上市公司、90家专精特新中小企 业，其中25家为国家级"小巨人"，10余家成长为独角兽或准独角兽企业，创造数万个就业岗位。 本报讯（记者 王琪鹏）北京共青团以科技创新青年突击队建设为抓手，已构建起以"青年突击队""青年 创新工作站""中关村U30"为核心的"一队一站一赛"青年科创北京方案。截至目前，北京已培育科技创新 型青年突击队300余支，在7大战略领域实现关键技术自主可控。 自1954年第一支青年突击队在北京诞生以来，青年突击队精神薪火相传。近日，北京共青团召开纪念青 年突击队成立 ...

Core Insights - The Shanghai Municipal Party Committee has released suggestions for the 15th Five-Year Plan, emphasizing the acceleration of three leading industries [1] Group 1: Semiconductor Industry - The plan aims to enhance the capability, manufacturing level, and design ability of integrated circuit equipment, promoting an overall breakthrough and growth of the entire industry chain [1] Group 2: Biopharmaceutical Industry - There is a focus on strengthening the research and development of important innovative drugs and medical devices, with strategies including the development of new drug targets and mechanisms, accelerated transformation of results, improved clinical trial efficiency, and innovative multi-payment methods [1] Group 3: Artificial Intelligence Industry - The initiative promotes full-stack innovation in artificial intelligence, emphasizing the development of high-performance intelligent computing chips, high-quality datasets, and efficient intelligent computing clusters, while also advancing the iteration of foundational large models and the maturation of embodied intelligence technologies [1]

Group 1: Market Overview - In 2025, China's capital market achieved a historic breakthrough with A-share total market value exceeding 100 trillion yuan and annual trading volume surpassing 400 trillion yuan, demonstrating the effectiveness of reforms in market scale and trading activity [1] - The capital market is transitioning from a mere financing platform to a core hub serving new productive forces, with an upgraded institutional inclusiveness on the financing side being a key support for building an innovative capital ecosystem [1] Group 2: Financing and Investment Reforms - The registration system reform, which began with the Sci-Tech Innovation Board and expanded to the entire market, significantly shortened IPO review cycles across various sectors, achieving a balance between speed and quality [1] - The investment side is optimizing the environment for long-term capital entry, with policies promoting long-term capital to play a stabilizing role, particularly benefiting hard technology industries [2] Group 3: Challenges and Solutions - Despite significant reform achievements, challenges remain in the capital market's high-quality development, including low risk tolerance and short-term funding issues, with institutional investors holding less than 20% of A-share market value as of Q3 2025 [3] - To address the development challenges of hard technology enterprises, differentiated listing standards and financing channels should be established, allowing unprofitable but promising companies to raise funds on platforms like the Sci-Tech Innovation Board [4] Group 4: Market Integrity and Investor Protection - There is a need to strengthen the market integrity system by establishing credit archives for listed companies and intermediaries, implementing joint penalties for dishonesty, and increasing the costs of illegal activities [4] - Enhancing investor protection mechanisms, including collective litigation systems and simplified investor rights protection processes, is essential to boost investor confidence and maintain market stability [4]

Core Viewpoint - The stabilization period for the global offering of Huazhong Bio-B (02396) ended on January 16, 2026, with no over-allotment exercised during this period [1] Group 1 - The announcement indicates that the international offering did not involve any over-allocation of shares [1] - The over-allotment option has expired as of January 16, 2026 [1] - The company was informed by the stabilization agent that no stabilization actions were taken during the stabilization period [1]

Core Viewpoint - The forum emphasizes the resilience, innovation, and aspirations of Zhejiang merchants amidst the waves of the Chinese economy, highlighting the importance of maintaining a competitive edge through innovation and market economy principles [3][13]. Economic Outlook - The current economic climate is warmer compared to the previous year, with negative factors gradually being digested, indicating the resilience of the Chinese economy [3][4]. - There is optimism for 2026, with expectations for significant growth and opportunities for businesses to excel [3][4]. Innovation and Competitiveness - The strength of China's economy is attributed to its market economy and the resilience of private enterprises, particularly in emerging sectors like AI, robotics, and biomedicine [4][14]. - Fosun's biopharmaceutical platform, Fuhong Hanlin, is set to achieve breakthroughs with multiple products expected to reach global markets by 2025, showcasing strong global competitiveness [4][14]. Globalization Strategy - Fosun is committed to globalization, with operations in over 40 countries and regions, and overseas revenue reaching 46.67 billion yuan, accounting for 53% of total revenue in the first half of 2025 [18]. - The company aims to leverage China's capabilities and resources to enhance its global presence and competitiveness [18]. Consumer Market Insights - The Chinese consumer market, with over a billion people, presents continuous opportunities, emphasizing the need for companies to enhance product quality and innovation [16][17]. - Fosun's ventures in tourism and consumer products have received positive market feedback, with high occupancy rates and successful product launches [16][17].