12月31日， 国家发展改革委召开12月份新闻发布会。 发改委：近期批复广州新机场等项目 总投资超4000亿元 国家发展改革委政策研究室副主任李超表示，发改委近期批复或核准广州新机场、新建湛江 至海口跨海轮渡及相关线路工程等交通设施，辽宁省辽东半岛水资源配置工程、云南省丽江 国家发改委回答证券时报记者提问：国产算力水平有望不断提升，为AI产业提供有力支撑 12月31日，国家发展改革委政策研究室副主任李超在回答证券时报记者提问时表示，我国深 入实施"人工智能+"行动，为人工智能算力芯片提供了广泛应用场景，各类型算力芯片需求增 长迅速、创新非常活跃。目前，国产芯片产品在不同场景中加速适配，应用成效非常好。特 别是"超节点"等集群互联技术发展，为国产算力赶上国际领先水平提供了良好机遇，拓展了 广阔发展空间。未来，随着产业链上下游协同持续深化，国产算力水平将不断提升，为人工 智能产业发展提供更加有力的支撑。 发改委：2026年提前批"两重"项目清单和中央预算内投资已下达 共计约2950亿元 国家发展改革委政策研究室副主任李超表示，近日，发改委组织下达2026年提前批"两重"建 设项目清单和中央预算内投资计划，共计约2 ...

12月31日，国家发展改革委政策研究室副主任李超表示，我国深入实施"人工智能+"行动，为人工智能 算力芯片提供了广泛应用场景，各类型算力芯片需求增长迅速、创新非常活跃。目前，国产芯片产品在 不同场景中加速适配，应用成效非常好。特别是"超节点"等集群互联技术发展，为国产算力赶上国际领 先水平提供了良好机遇，拓展了广阔发展空间。未来，随着产业链上下游协同持续深化，国产算力水平 将不断提升，为人工智能产业发展提供更加有力的支撑。（证券时报） ...

每经AI快讯，12月31日，国家发展改革委政策研究室副主任李超表示，我国深入实施"人工智能+"行 动，为人工智能算力芯片提供了广泛应用场景，各类型算力芯片需求增长迅速、创新非常活跃。目前， 国产芯片产品在不同场景中加速适配，应用成效非常好。特别是"超节点"等集群互联技术发展，为国产 算力赶上国际领先水平提供了良好机遇，拓展了广阔发展空间。未来，随着产业链上下游协同持续深 化，国产算力水平将不断提升，为人工智能产业发展提供更加有力的支撑。 ...

Group 1 - The core point of the article highlights the performance and market position of Juchip Technology, which saw a stock price decline of 1.01% to 53.11 CNY per share, with a total market capitalization of 9.303 billion CNY [1] - Juchip Technology, established on June 5, 2014, specializes in the research, design, and sales of mid-to-high-end smart audio SoC chips, with revenue composition as follows: 70.82% from smart wireless audio SoC chips, 18.80% from edge AI processor chips, and 10.31% from portable audio and video SoC chips [1] Group 2 - From the perspective of fund holdings, Juchip Technology is a significant investment for Changcheng Fund, with its Changcheng Jiuheng Mixed A Fund increasing its holdings by 51,800 shares to a total of 90,800 shares, representing 3.96% of the fund's net value [2] - The Changcheng Jiuheng Mixed A Fund has achieved a year-to-date return of 57.65% and a one-year return of 51.53%, ranking 849th and 985th respectively among its peers [2]

Economic Policies - The Central Rural Work Conference emphasized the importance of modernizing agriculture and rural areas, with a focus on food production and policies to support farmers' income stability [1] - The 2026 national subsidy plan was released, allocating 62.5 billion yuan for consumer goods replacement and updates, with new categories including smart glasses and smart home products [1] - A new tax policy was announced, reducing the VAT on the sale of homes held for less than two years from 5% to 3%, which is expected to increase the activity in the second-hand housing market [2] Capital Market Developments - The A-share market saw significant growth in 2025, with the Shanghai Composite Index reaching over 4000 points and total market capitalization hitting 119.04 trillion yuan, driven by increased capital inflow [4] - Hong Kong's IPO market is set for a strong start in the new year, with three Chinese tech companies planning to raise over $1 billion through IPOs [5] - Tesla's delivery expectations for Q4 have been revised downwards, with analysts predicting a 15% year-on-year decline in vehicle deliveries [5] Industry Highlights - The automotive industry is undergoing a digital transformation, with goals set for 2027 to enhance manufacturing capabilities and digital integration across various enterprises [2] - China's automotive sales are projected to grow by 17% in 2025, positioning the country as the largest global automotive market, surpassing Japan [6] - The price of copper has reached historical highs due to increased demand from energy transition and AI infrastructure developments [8] Company Updates - Guizhou Moutai announced adjustments to its product lineup for 2026, focusing on various series of its liquor products [10] - Tianpu Co. has seen its stock price surge by 718.39% since August 2025, leading to a suspension for verification due to significant deviation from its fundamentals [10] - Ningde Times plans to build over 3,000 battery swap stations by next year, enhancing its network for electric vehicle charging [10] - Xiaomi is expanding its automotive product matrix, planning to launch at least four new models in 2026, including both electric and range-extended vehicles [11] - China National Airlines intends to purchase 60 Airbus A320NEO aircraft, totaling approximately $9.53 billion, to enhance its fleet capacity [10]

Group 1: South Korea - The Seoul Composite Index achieved a remarkable annual performance, rising nearly 76% in 2025, marking the largest increase since 1999 [3][4] - Key drivers of this growth included semiconductor stocks, particularly Samsung Electronics and SK Hynix, which saw increases of 125% and 270% respectively [3][7] - The AI infrastructure investment significantly contributed to the market's strength, with companies like Hyosung Heavy Industries and Doosan Enerbility rising over 320% due to increased demand for data center power [6][7] - Analysts from major firms like Citigroup and Morgan Stanley predict further growth in the Korean stock market, estimating at least a 20% increase in the coming year supported by strong earnings growth [8] Group 2: Japan - The Tokyo Stock Exchange Index closed at a record high of 3408.97 points, surpassing the peak from the 1989 bubble, with a 22% annual increase [9][11] - The upward trend is attributed to valuation corrections and expanding buying interest across various sectors, including financials and real estate [9][11] - Small and mid-cap stocks outperformed large-cap stocks for the first time since 2022, indicating a broadening market appeal [11] Group 3: Indonesia - The Jakarta Composite Index rose approximately 22% in 2025, marking its best performance since 2014, driven primarily by increased participation from domestic retail investors [12] - Despite a net outflow of $1 billion from foreign investors, local retail investors significantly increased their market presence, with their numbers growing fivefold to over 20 million [12] - Analysts expect continued support for the Indonesian stock market due to factors like accelerated loan growth and low fixed-income returns, projecting the index could reach 11,000 points, a 27% increase from current levels [12]

今日关注 新股上市：新广益（创）、蘅东光（北） 国务院台湾事务办公室12月31日举行新闻发布会，就近期两岸热点问题回答记者提问。 国家发展改革委召开12月份新闻发布会。 小米集团董事长雷军举行跨年直播，请工程师现场拆车。 国家主席习近平发表二〇二六年新年贺词。 香港交易所交易半日，12时08分与12时10分之间随机收市。 京东与宇树科技正式推出首家线下门店，12月31日正式开业。 第十二届全国大众冰雪季暨陕西省第十二届滑雪大会启动仪式于12月31日启幕。 纳米盒与微光科技联合研发的全球首款智能学习眼镜于12月31日启动全球限量预售，预计明年1月中旬 正式上市。 未来MARS系列具身智能机器人全球首发盛典于12月31日举办。 今日有260亿元7天期逆回购到期。 日韩德法交易所休市一日。 英国-伦敦证券交易所提前于北京时间20:30收市。 上金所、上期所、郑商所、大商所无夜盘交易。 经济数据：美国上周初请失业金人数、中国12月官方制造业PMI。 隔夜市场 美国三大股指小幅收跌，道指跌0.2%报48367.06点，标普500指数跌0.14%报6896.24点，纳指跌0.24%报 23419.08点。 COMEX黄金 ...

Market Overview - The U.S. stock market experienced a three-day decline with small-cap stocks underperforming and facing selling pressure [2] - Major technology stocks showed some recovery after a previous downturn, while cyclical sectors like communication services and materials briefly outperformed [2] - U.S. Treasury yields saw slight fluctuations, with the 10-year yield rising by less than 1 basis point [2] - The offshore RMB appreciated by 0.2% before narrowing its gains, closing at 6.992 [2] - Gold prices initially rose by 1.60% but later retraced most of the gains, while silver saw a significant rebound, closing up over 5% [2] Key News - The Central Rural Work Conference emphasized the need to strengthen core agricultural technologies and efficiently convert scientific achievements into practical applications [3][17] - The government announced a new tax policy for individuals selling homes held for over two years, exempting them from value-added tax starting January 1, 2026 [6][19] - A new national subsidy plan for 2026 was introduced, which includes support for smart products while adjusting standards for household appliances and automobiles [4][18] - Four departments are pushing for the digital transformation of the automotive industry, focusing on key technologies and the development of public computing infrastructure [5][19] Company Developments - Tesla's Q4 delivery volume is projected to decline by 15% due to the expiration of tax credits and increased competition [22] - Longxin Technology's IPO on the Sci-Tech Innovation Board has been accepted, aiming to raise 29.5 billion yuan [7] - MiniMax plans to raise 4.2 billion HKD through its IPO, with Alibaba and Abu Dhabi as cornerstone investors [8] - Manus, an AI startup, was acquired by Meta for over $2 billion, marking a significant milestone in the AI sector [30] Commodity Market - The metal market showed mixed trends, with silver prices rebounding significantly while gold's gains were curtailed [21] - Copper prices surged nearly 4%, and nickel reached a 14-month high due to supply concerns [21][33] - OPEC+ is expected to maintain its current production levels amid ongoing supply surplus pressures [11][25] Economic Policies - The government is set to implement a large-scale equipment update and consumer goods replacement policy in 2026, focusing on key consumer products [38] - The Ministry of Industry and Information Technology is promoting the application of artificial intelligence in the automotive sector, aiming for significant advancements by 2030 [40]

日前，由金融界主办的"启航·2025金融年会"在北京圆满落幕。年会以"新开局、新动能、新征程"为主题，在"十五五"规划开局的关键节点，聚焦时代脉搏、 锚定发展航向，汇聚政、产、学、研多方专家，为中国经济高质量发展破题献策。 江小涓、尹艳林、朱光耀、梁涛、于学军、陈文玲、田轩、贺强、肖耿、霍学文、张文中、田源等100多位嘉宾、500余家金融机构和上市公司齐聚一堂，就 宏观经济、资本市场、科技浪潮、消费振兴等焦点话题展开研讨，碰撞思想火花，分享真知灼见。 金融界集团董事长、物美集团CEO张斌在开幕致辞中指出，2026年将是"十五五"规划扬帆启航的关键之年，也是中国经济"告别通胀低谷，确立新均衡的转 折之年"。他用"奔跑"比喻各方在马年应有的进取姿态，中国经济、资本市场及实体产业均需"奋力奔跑"，迎接康波复苏周期，在时代的β中奔跑出自己的 α。 问道"十五五" "十五五"规划实施大幕即将拉开，中国经济发展新征程该如何迈步？未来前行路上可能遭遇哪些困难？又该如何筑牢风险防线？在本次年会上，尹艳林、朱 光耀、梁涛、陈文玲等多位权威专家聚焦关键议题，带来深度分享。 朱光耀：全球经济增长呈现"弱复苏"格局 财政部原副部长朱 ...

根据伦敦证券交易所集团（lseg）的数据以及路透社的测算，芯片巨头英伟达在刚刚过去的一年中跃升 为全球市值最高的公司，市值高达4.63万亿美元，超过了长期排名第一的苹果（4.04万亿美元）。与此 同时，谷歌母公司alphabet也从第四位升至第三位，超越了微软。alphabet当前的市值为3.79万亿美元 ——如果放在2024年，这一规模足以登顶全球第一。 不仅如此，芯片制造商博通（broadcom，排名第七）以及晶圆代工巨头台积电（tsmc）同样受益于汹涌 而来的人工智能需求。台积电是全球市值前十名中唯一的新面孔，也是继沙特阿美之后，全球市值第二 高、但并非来自美国的公司。 总体来看，美国企业依旧占据主导地位：在全球市值前20名中，美国公司占16席；在前100名中，占到 62家。如今，全球已有12家公司市值超过1万亿美元，而三年前这一数字还只有4家。 来源：市场资讯 （来源：DOLC） 多年来，苹果一直稳居全球市值最高公司的宝座。但如今，这家加州科技巨头被芯片制造商英伟达超 越。今年，人工智能浪潮席卷全球资本市场，相关企业纷纷从中获益。 PART 01 人工智能（ai）热潮牢牢吸引着全球股市的目光 同样来自 ...