Economic Growth Outlook - Multiple institutions predict a stable economic growth trajectory for China in 2026, with targets around 5% [2][3] - China’s economic growth is expected to maintain resilience, with forecasts suggesting a GDP growth of approximately 4.9% in 2026 [2][3] Policy and Fiscal Measures - Fiscal spending is anticipated to continue moderate expansion, with local government finances improving due to steady progress in local debt management [2][3] - The government is expected to maintain a proactive fiscal stance, with an increase in special bonds and long-term treasury bonds [3][4] - Monetary policy is projected to include around two reserve requirement ratio cuts and one to two interest rate cuts in 2026 [3][4] A-Share Market Dynamics - The A-share market is transitioning from local to global exposure, with companies evolving into multinational entities [4] - A-share earnings are expected to gradually recover, with non-financial A-share growth projected to reach around 10% [4] - The market is likely to experience a shift towards balanced styles, driven by cyclical industries approaching supply-demand equilibrium [6] Industry Trends and Opportunities - Key industry trends include the upgrading of traditional manufacturing, the globalization of Chinese enterprises, and the expansion of AI applications [5][6] - The "new economy" sectors are expected to grow faster than other economic sectors, with their GDP contribution projected to increase by 3 percentage points by 2030 [3]

Group 1 - The core viewpoint of the article highlights the rapid development of Wuqing District in Tianjin, which is leveraging the construction of the Beijing-Tianjin Industry New City to integrate into the coordinated development of the Beijing-Tianjin-Hebei region, with a reported industrial output value growth of 7.7% year-on-year in the first half of the year [1] - Wuqing District has introduced 16 policy measures across four areas to support the high-quality development of the Beijing-Tianjin Industry New City, focusing on delegating Tianjin municipal powers, expanding industrial development space, and enhancing supporting service functions [1] - The establishment of a one-stop efficient service platform in the Innovation and Entrepreneurship Service Hall within the Science and Technology Innovation Pilot Area aims to provide comprehensive services across seven sectors, including government affairs, science and technology, finance, industry, talent, business, and knowledge [1] Group 2 - Wuqing aims to deepen integration into the coordinated industrial collaboration of the Beijing-Tianjin-Hebei region by strengthening cooperation with Beijing Economic-Technological Development Area, Haidian District, and local universities and research institutions [2] - The district plans to systematically capture the technology and industrial spillover effects from Beijing, actively participating in the construction of the "six chains and five clusters" in the Beijing-Tianjin-Hebei region [2] - A high-efficiency linkage channel is being constructed for "Beijing R&D and Wuqing transformation" to facilitate the transfer of technology and innovation [2]