Group 1 - The Central Political Bureau of the Communist Party of China held a meeting to discuss the construction of party conduct and anti-corruption work, chaired by General Secretary Xi Jinping [6] - Since the 18th National Congress, the central leadership has emphasized a people-centered development approach, focusing on grassroots healthcare as a key aspect of health work [7] - During the 14th Five-Year Plan period, China has accelerated the construction of a health system, establishing a comprehensive grassroots medical service network that continues to enhance service capabilities [7] Group 2 - Significant achievements have been made in China's information technology development during the 14th Five-Year Plan, with advancements in infrastructure, industry ecology, and e-government [8] - The consumer goods industry in China has shown stable growth in the first 11 months of the year, contributing to structural optimization and innovation [9] - The national irrigated farmland area has exceeded 10.9 million acres, with an increase of over 5.3 million acres since the end of 2020, supporting food production [11]

印方相关措施的核心是莫迪政府推出的"生产挂钩激励计划"（PLI），该计划对包括信息产业和光伏等 在内的本土制造业提供大规模补贴。除直接补贴外，还对进口产品征收高关税，并制定强制性的本土采 购清单，引导产能向印度转移。 【环球时报记者 李迅典 环球时报特约记者 李飞】法新社23日报道称，世界贸易组织（WTO）当日宣 布，中国已就印度针对光伏（太阳能）产品及信息技术（IT）产品贸易采取的某些措施，正式向世贸组 织提起争端解决请求。这是继10月就印度电动汽车及电池补贴措施提起诉讼后，中方再次通过世贸组织 机制维护本国产业利益。 中国商务部发言人19日表示，印方相关措施涉嫌违反世贸组织约束税率、国民待遇等多项义务，并构成 世贸组织明令禁止的进口替代补贴。这些措施给予印方本国产业不公平的竞争优势，对中方利益造成实 质损害。中方敦促印方恪守其在世贸组织作出的有关承诺，立即纠正错误做法。 与此同时，印度"国内成分要求"规定进一步收紧。许多分析认为，印度政府的目的就是限制来自特定国 家特别是中国的进口。 此外，作为本土制造的量化指标，印度还对各类产品设定"国内附加 值"（DVA）要求。例如，要达到政府采购门槛并被认定为本土产 ...

（原标题：白春礼：国际竞争加速向基础前沿前移，企业创新角色正在升级） 南方财经21世纪经济报道记者郑青亭、实习生王馨梓 北京报道 面向"十五五"时期加快高水平科技自立自强、发展新质生产力的战略目标，白春礼提出四项核心建议： 第一，把企业基础研究纳入国家战略任务体系，形成稳定牵引和长期安排。围绕国家重大战略需求和未 来产业制高点，建立企业参与基础研究的任务清单和组织机制，支持领军企业牵头组建跨领域联合团队 进行长周期攻关。 12月18日，《财经》年会2026：预测与战略暨2025全球财富管理论坛在北京拉开帷幕。中国科学院院 士、中国科学院原院长白春礼在演讲中表示，随着科学与技术边界加速融合，产业迭代周期显著缩短， 技术路线快速演进，国际竞争明显前移，基础研究越来越成为产业竞争的"先手棋"，越来越成为国家竞 争力的"源头工程"。 白春礼指出，基础研究是国家竞争力的源头，而企业基础研究则决定了产业优势的长久性。当前，国际 竞争加速向基础前沿前移，科技创新与产业创新的边界日益模糊，企业在国家创新体系中的角色正从技 术的"应用者"升级为科学的"创造者"。 他援引历史与当代案例予以说明：从贝尔实验室的晶体管发明引爆信息产 ...

值得注意的是，ADP与斯坦福数字经济实验室合作发布的薪资数据基于覆盖逾2600万美国私营部门雇员 的工资单信息，具有较强代表性。 数据背离凸显经济复杂性 与此同时，美国供应管理协会（ISM）公布的11月服务业PMI升至52.6，创九个月新高，显示服务业活 动继续扩张。ADP就业数据与ISM服务业PMI之间的背离，反映出当前美国经济的多维复杂性：一方 面，大型企业与核心服务业维持扩张；另一方面，中小企业、制造业及信息产业持续承压。 小企业裁员潮与大企业扩张形成鲜明对比 数据显示，11月就业下滑主要由小型企业驱动。员工人数少于50人的小企业合计裁员12万个，其中规模 在20至49人之间的企业减少7.4万个岗位，创2020年5月以来最大单月降幅。相比之下，拥有50名及以上 员工的大型企业净增9万个岗位，反映出不同规模企业在当前经济环境下的抗压能力存在明显差异。 从行业维度看，就业市场呈现高度分化。教育和医疗服务业新增3.3万个岗位，休闲和酒店业增加1.3万 个，成为少数亮点。但专业和商业服务业裁员2.6万人，信息服务业减少2万人，制造业减少1.8万人，金 融活动与建筑业各减少9000人，广泛领域的岗位流失拖累整体表 ...

本报记者 吴晓璐 毛艺融 2022年11月18日，中国证监会办公厅、工业和信息化部办公厅联合发布了《关于高质量建设区域性 股权市场"专精特新"专板的指导意见》（以下简称《指导意见》）。三年来，三批共计26家区域性股权 市场"专精特新"专板（以下简称"专板"）完成备案。权威数据显示，截至今年9月底，26家专板共服务 企业1.56万家，其中，国家级专精特新"小巨人"企业1298家，专精特新中小企业9197家，上市后备企业 1098家。 三年筑基，育树成林，专板已成为各地汇聚专精特新中小企业的"苗圃"，精准赋能入板企业，在助 力融资、培育上市等方面发挥了积极作用，资本市场"塔基"功能有效发挥，为加速培育新质生产力注入 了强劲动力。 集聚效应凸显 产业布局高度契合新质生产力 在区域性股权市场完成专板建设方案备案后，江苏、天津、河北、河南等多地出台了支持专板发展 的具体举措，引导符合条件的企业在专板挂牌融资，为入板企业推出专项服务，助力高标准建设专板。 目前，入板企业多集中于战略性新兴产业和未来产业，与培育新质生产力的方向高度契合，形成了 良好的示范效应。 例如，北京"专精特新"专板是全国首批备案的专板之一。北京股权交 ...

本报记者 吴晓璐 毛艺融 2022年11月18日，中国证监会办公厅、工业和信息化部办公厅联合发布了《关于高质量建设区域性股权市场"专精特新"专 板的指导意见》（以下简称《指导意见》）。三年来，三批共计26家区域性股权市场"专精特新"专板（以下简称"专板"）完成 备案。权威数据显示，截至今年9月底，26家专板共服务企业1.56万家，其中，国家级专精特新"小巨人"企业1298家，专精特新 中小企业9197家，上市后备企业1098家。 三年筑基，育树成林，专板已成为各地汇聚专精特新中小企业的"苗圃"，精准赋能入板企业，在助力融资、培育上市等方 面发挥了积极作用，资本市场"塔基"功能有效发挥，为加速培育新质生产力注入了强劲动力。 集聚效应凸显 产业布局高度契合新质生产力 在区域性股权市场完成专板建设方案备案后，江苏、天津、河北、河南等多地出台了支持专板发展的具体举措，引导符合 条件的企业在专板挂牌融资，为入板企业推出专项服务，助力高标准建设专板。 目前，入板企业多集中于战略性新兴产业和未来产业，与培育新质生产力的方向高度契合，形成了良好的示范效应。 例如，北京"专精特新"专板是全国首批备案的专板之一。北京股权交易中心 ...

Core Viewpoint - China Aviation Oil Group is preparing for a restructuring with another state-owned enterprise, reflecting ongoing optimization and structural adjustments in the state-owned economy [1][2]. Group 1: Restructuring Details - China Aviation Oil (Singapore) Co., Ltd. announced that its parent company, China Aviation Oil Group, will undergo a restructuring, which is still in the planning stage and requires further approval [2]. - The restructuring is not expected to significantly impact the normal operations of the company and its subsidiaries [2]. - China Aviation Oil Group currently holds 51.31% of the issued shares of the company [2]. Group 2: Industry Context - The restructuring is seen as part of a broader trend of state-owned enterprises (SOEs) enhancing their core competitiveness through strategic mergers and consolidations [2][3]. - The company operates in a critical downstream segment of the aviation fuel supply chain, with a stable sales network covering national transport airports and airline customers [2]. - The restructuring aims to achieve integration of refining and distribution, enhancing the stability of the supply chain [2]. Group 3: National Policy and Trends - During the 14th Five-Year Plan period, state-owned enterprises have been optimizing their layouts, with 10 enterprises undergoing strategic mergers [4]. - The restructuring aligns with national policies focusing on enhancing the efficiency and competitiveness of the entire industrial system [4][5]. - As of Q3 this year, over 70% of the revenue from central enterprises is derived from sectors related to national security and public welfare [4]. Group 4: Future Directions - The focus of SOE reforms from 2023 to 2025 will be on functional reforms that serve national strategies, with strategic restructuring and professional integration as key approaches [5][6]. - The National Development and Reform Commission aims to optimize the flow and allocation of state capital, enhancing both qualitative and quantitative growth of the state economy [7]. - Emphasis will be placed on strategic and professional restructuring to avoid redundant construction and disorderly competition, while promoting innovation and enhancing the resilience of the industrial chain [8].

Group 1 - The core point of the article is that the ADP private sector employment report for October shows a net increase of 42,000 jobs, marking the first positive growth since July 2025, and surpassing market expectations of 25,000 jobs, reversing the trend of job losses in August and September [1][2] - Job growth is concentrated in specific sectors, with education, healthcare, trade, transportation, and utilities being the main drivers, while professional and business services, information industries, and leisure and hospitality sectors have seen job reductions for the third consecutive month [2][3] - Wage growth remains stable overall, with median annual salaries for stayers increasing by 4.5%, while job switchers experience a more significant increase of 6.7%, indicating that labor mobility still provides a premium [3][4] Group 2 - The September ADP employment data was revised from a decrease of 32,000 jobs to a decrease of 29,000 jobs, which alleviates some market concerns about a sharp deterioration in the job market [3][4] - The ADP report has gained unusual attention due to the U.S. federal government shutdown, which has prevented the release of key official employment data, but the ADP data only covers about 26 million private sector employees, compared to the broader non-farm report [4][5] - The release date for the October non-farm employment report remains uncertain due to the ongoing government shutdown, which may lead to market volatility based on private data [5]

Economic Performance - Jilin Province's GDP for the first three quarters of 2025 reached 1,083.2 billion yuan, with a year-on-year growth of 5.3%, accelerating by 1.0 percentage points compared to the previous year and exceeding the national average by 0.1 percentage points [1] - The agricultural sector in Jilin showed steady growth, with total output value in agriculture, forestry, animal husbandry, and fishery reaching 139.08 billion yuan, a year-on-year increase of 4.4% [1] - Livestock production contributed significantly to agricultural growth, with cattle and sheep output increasing by 7.6% and 5.8% respectively [1] Industrial Growth - The added value of Jilin's industrial enterprises above designated size grew by 8.4% year-on-year, an increase of 6.3 percentage points compared to the previous year, and outpacing the national average by 2.2 percentage points [1] - Key industries in Jilin maintained growth, with the pharmaceutical and information industries achieving double-digit growth rates of 17.1% and 15.0% respectively [1] - Notable increases in specific products included a 9.5% rise in new energy vehicles and a 54.7% increase in urban rail vehicles [1] Investment and Consumption - Jilin's investment structure improved, with industrial investment growing by 2.7% year-on-year, accounting for 33.4% of total investment, an increase of 3.4 percentage points from the previous year [2] - The retail sales of consumer goods in Jilin reached 313.83 billion yuan, with a year-on-year growth of 4.0%, accelerating by 0.5 percentage points compared to the previous year [2] - Retail sales in specific categories showed growth, with food, clothing, and daily necessities increasing by 2.7%, 5.3%, and 4.9% respectively [2]

Market Trends - The market is experiencing a rotation of funds from technology stocks to undervalued sectors such as liquor and coal, indicating a shift in investor sentiment [1] - The technology sector is expected to rebound after recent adjustments, prompting selective buying opportunities [1] Investment Strategies - The company has increased its position in TMT (Technology, Media, and Telecommunications) sector-focused funds, anticipating benefits from the ongoing AI wave [3] - A significant investment of 5000 yuan was made in a gold ETF, driven by the metal's strong performance due to geopolitical tensions and expectations of interest rate cuts by the Federal Reserve [4] - The company has also invested in a consumer-focused fund, which combines traditional and emerging consumption sectors, capitalizing on upcoming consumption peaks and government policies aimed at boosting consumer spending [5] Sector Analysis - The renewable energy sector is benefiting from global green transitions, with domestic solar installations expected to exceed 200GW this year [6] - The digital economy, represented by AI and semiconductors, is accelerating growth opportunities for hard-tech companies [6] - The biopharmaceutical sector is entering an innovation cycle supported by favorable policies [6] Portfolio Adjustments - The company is strategically reducing exposure to the photovoltaic sector while maintaining positions in semiconductor and new energy vehicle ETFs, indicating a cautious approach to market fluctuations [9] - The company is focused on managing risk and optimizing portfolio performance through careful position adjustments [9]