和去年相比，今年上榜企业未发生变化，但在排位上均有所下降。新希望控股集团有限公司居第 426位，排名较2024年下降48位。蜀道投资集团有限责任公司居第454位，排名较2024年下降18 位。通威集团有限公司居第479位，排名较2024年下降12位。 本报讯（四川日报全媒体记者 史晓露）7月29日，2025年《财富》世界500强排行榜揭晓，3家四 川企业上榜。按排名依次是：新希望控股集团有限公司、蜀道投资集团有限责任公司、通威集团 有限公司。 今年《财富》世界500强排行榜企业的营业收入总和约为41.7万亿美元，超过全球GDP的三分之 一，比去年增长约1.8%。此次上榜门槛（最低销售收入）从321亿美元增长至322亿美元。所有上 榜公司的净利润总和同比增长约0.4%，约为2.98万亿美元。500家上榜公司的资产总额和净资产总 额均达到自《财富》世界500强排行榜创立以来的最高峰。 从全国来看，今年，加上台湾地区企业，中国共有130家公司上榜，比去年减少3家。进入榜单的 中国大陆（含香港）公司数量为124家，比去年减少4家。 回顾川企冲榜历程，从首进世界500强至今已有4年。2021年，新希望控股集团首次上榜， ...

证券代码：600606 股票简称：绿地控股 编号：临 2025-030 绿地控股集团股份有限公司 2025 年第二季度基建业务经营情况简报 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、新增项目情况 （一）第二季度 2025 年 4-6 月，公司基建业务新增项目情况如下: 1、业务分部 | 细分行业 | 房屋建设 | 基建工程 | 其他 | 总计 | | --- | --- | --- | --- | --- | | 项目数（个） | 281 | 149 | 188 | 618 | | 总金额（万元） | 1,961,920 | 1,047,620 | 592,138 | 3,601,678 | | 总金额同比增减（%） | -39.08 | -30.35 | 18.75 | -31.04 | 2、地区分部 | 项目地区 | 境内 | 境外 | 总计 | | --- | --- | --- | --- | | 项目数（个） | 605 | 13 | 618 | | 总金额（万元） | 3,438,199 | 163,47 ...

Economic Performance Overview - As of July 28, 2025, 31 provinces (excluding Hong Kong, Macau, and Taiwan) reported their economic performance for the first half of the year, with significant growth in major economic provinces, although some provinces experienced fluctuations in their economic data [1] - Among the top eight economic provinces, all except Guangdong achieved GDP growth rates exceeding the national average of 5.3%, with growth rates of 5.6% and above [1][2] - Guangdong's GDP growth rate was 4.2%, ranking it among the bottom three provinces [1] Provincial GDP Growth - In the first half of 2025, 21 provinces exceeded their annual GDP growth targets set at the beginning of the year, indicating a solid foundation for achieving their full-year goals [1] - Notably, Tibet, Gansu, and Hubei had the highest GDP growth rates, all above 6% [2] - Hubei's GDP growth rate reached 6.2%, surpassing the national average by 0.9 percentage points [2] Consumption Trends - Nationally, final consumption expenditure contributed 52% to economic growth in the first half of 2025, with 19 provinces reporting retail sales growth above the national average of 5% [2] - The "old-for-new" policy significantly boosted consumption in several provinces, with retail sales of wearable smart devices and related products in Henan growing over 85% [3] Retail Sales Performance - Beijing and Tianjin reported negative growth in retail sales, with Beijing's retail sales declining by 3.8% in the first half of 2025, primarily due to significant drops in automotive and communication equipment sales [4][5] - Shanghai's retail sales growth was 1.7%, ranking it among the lowest in the country [4] Fixed Asset Investment - Despite strong economic growth, several provinces, including Guangdong and Jiangsu, experienced declines in fixed asset investment, with Guangdong's investment dropping by 9.7% [9][10] - The decline in real estate development investment was a major factor affecting fixed asset investment growth in these provinces [10] Consumer Confidence - Consumer confidence in Beijing remained low, with the consumer confidence index below 100 for four consecutive quarters, indicating weak consumer sentiment [6][8] - The employment satisfaction index in Beijing hit a historical low of 75.2 in the second quarter of 2025, reflecting concerns over job security and income [5][6] Investment Opportunities - Some provinces, such as Beijing, reported strong fixed asset investment growth of 14.1%, driven by significant increases in equipment purchase investments [12] - Hebei's real estate development investment grew by 2.0%, supported by ongoing urban development projects [13]

Core Viewpoint - The article discusses the economic outlook for the second half of the year, emphasizing the need for policy support to achieve the annual GDP growth target of 5% after a 5.3% growth in the first half of the year [1][5]. Economic Performance - The actual GDP growth in the first half of the year was 5.3%, with Q1 at 5.4% and Q2 at 5.2%, exceeding the 5% annual target [5][7]. - The GDP deflator index in Q2 fell by 1.2%, marking the ninth consecutive quarter of negative growth, leading to a nominal GDP growth of only 3.9% [5][8]. - The growth was primarily driven by proactive policies and early consumer demand stimulation, particularly through the "trade-in" policy [7][8]. Consumer and Investment Trends - Retail sales of consumer goods increased by 5% in the first half, with significant growth in categories related to the "trade-in" policy, such as home appliances and furniture [8][11]. - Fixed asset investment grew by only 2.8%, with infrastructure investment up by 4.6% and manufacturing investment by 7.5%, while real estate investment declined by 11.2% [11][19]. - Equipment investment surged by 17.3%, contributing 86% to overall investment growth [11][19]. Export Dynamics - Exports showed resilience, with a 5.9% increase in dollar terms, despite a 10.9% decline in exports to the U.S. [15][19]. - The diversification of exports helped mitigate the impact of reduced U.S. demand, with significant growth in exports to Africa, ASEAN, and the EU [15][19]. Economic Concerns - Despite positive data, there are concerns about potential weaknesses in the economy, particularly in consumer spending and manufacturing investment in the second half [19][20]. - The "trade-in" policy's impact on retail sales is expected to diminish in the latter half of the year due to lower funding and higher base effects from last year [19][20]. - Real estate sales and prices are showing signs of weakness, with new housing sales down by 3.5% and sales revenue down by 5.5% in the first half [23][24]. Policy Outlook - The article anticipates that the government will focus on targeted policies rather than large-scale stimulus, given the strong economic foundation laid in the first half [27][28]. - Potential policy directions include optimizing existing programs like the "trade-in" initiative and addressing restrictions on consumer spending [29][30]. - Infrastructure investment is expected to be a key area of focus, with ongoing projects and new financing tools being introduced to support technology and consumption [30][31]. Monetary Policy - The monetary policy is expected to remain supportive, with potential for minor adjustments in reserve requirements and interest rates [34][35]. - The article suggests that the central bank may take a cautious approach to monetary easing, focusing on maintaining stability in the currency exchange rate [35][36]. Structural Issues - The article highlights that the main challenges facing the Chinese economy are structural rather than total output-related, emphasizing the need for a focus on domestic and international circulation [26][38].

近日，由申万宏源证券有限公司担任牵头主承销商、簿记管理人及债券受托管理 人的 " 重庆万州经济技术开发（集团）有限公司 2025 年面向专业投资者非公开发行 公司债券（ 第三期 ） " （债券简称 "25 万州 06" ，债券代码 "259327" ）成功完 成簿记。本次债券发行规模为 9.10 亿元，期限 5 年，主体信用评级 AA+ ，票面利率 为 2.80% ，全场倍数达到 3.31 倍，充分体现了投资者对发行人信用质量和发展前景 的高度认可。 重庆万州经济技术开发（集团）有限公司是重庆市万州区重要的城市开发主体和国 有资本运营平台，承担着万州经开区土地综合整治、基础设施投资建设、园区开发运营 等核心任务。近年来，发行人持续加大在产业升级、城市功能完善及生态治理等方面的 投入，不断夯实作为区域经济发展 " 主力军 " 的综合实力。 未来，申万宏源将继续秉持专业、稳健、共赢的服务理念，深化与重庆万州经济技 术开发（集团）有限公司的合作，持续助力区域重点企业和项目高质量发展，为西部地 区经济社会建设贡献更多资本力量。 免责声明 本内容最终解释权归申万宏源证券有限公司所有。 本次债券的成功发行，是申万宏源积极 ...

Core Viewpoint - The construction of high-standard farmland in certain regions of China has been criticized for not adhering to planned construction, inadequate maintenance of supporting facilities, and unused irrigation equipment, indicating a need for stronger agricultural infrastructure development [1] Group 1: Current Issues - High-standard farmland, which is a key initiative for food security and agricultural modernization, is facing significant issues such as being underutilized and poorly maintained [1] - The Ministry of Agriculture and Rural Affairs has initiated a quality review of high-standard farmland projects since 2019, achieving some progress but still encountering problems [1] Group 2: Policy and Future Plans - In March, the Central Committee and the State Council issued a plan to gradually transform permanent basic farmland into high-standard farmland, aiming for comprehensive construction by 2035 [1] - The plan provides institutional support for improving construction, acceptance, and maintenance mechanisms for high-standard farmland [1] Group 3: Importance of High-Standard Farmland - High-standard farmland is essential for implementing the strategy of "storing grain in the land and technology," which is crucial for food security and high-quality agricultural development [1] - Improvements in farmland infrastructure can enhance grain production capacity, facilitate modern agricultural practices, and strengthen disaster resilience [1] Group 4: Recommendations for Improvement - A comprehensive quality control system for the entire lifecycle of high-standard farmland construction is necessary, including transparent planning and farmer involvement [2] - Innovative maintenance mechanisms should be established, with clear responsibilities and standards, potentially through government services and insurance systems [2] - The assessment criteria should shift from quantitative measures to qualitative outcomes, focusing on grain yield, facility utilization, and farmer satisfaction [2]

来源：环球时报 编者按：7月26日至28日，2025世界人工智能大会暨人工智能全球治理高级别会议在上海举办。以人工 智能技术为代表，中国在众多领域的创新为世界发展提供了新方案、新路径。本期"环球圆桌对话"邀请 三位学者就相关话题展开讨论。 肖茜：清华大学人工智能国际治理研究院副院长 斯蒂芬·戴维斯：英国经济事务研究所教育主管 霍达：北京外国语大学国际商学院教授 为全球南方参与AI发展提供新路径 肖茜 2025世界人工智能大会在上海举办，数千位全球专家、政企代表、高校学者、投资人共聚一堂，共话 AI发展新机遇。作为参会学者之一，笔者感受到此次会议期间，创新、开源、开放、合作成为中外与 会嘉宾在讨论中反复提及的关键词。 此次会议上，众多人工智能创新成果集中亮相，包括40多款大模型、50多款AI终端产品、60多款智能 机器人以及100余款首发新品。会上还发布了卓越人工智能引领者奖（SAIL奖），240个申报项目参与 竞争，充分展现出中国人工智能创新活力。在开幕式当天，中国科学院等多家科研机构基于开放生态联 合推出"磐石·科学基础大模型"。此外，中国科学院多个研究所联合国内几十家机构成立"科学基础大模 型生态联盟"， ...

Group 1 - The apparent demand for crude steel in China from January to May is 42.888 million tons, a year-on-year decrease of 1.4%, with the decline rate expanding by 0.2 percentage points compared to the previous year [1] - Crude steel consumption in China during the same period is 37.260 million tons, a year-on-year decrease of 3.6%, primarily driven by a 12.7% decrease in real estate crude steel consumption [1] - Crude steel exports from January to May reached 5.628 million tons, showing a year-on-year growth of 15.7%, contributing to a 1.7 percentage point increase in crude steel demand [1] Group 2 - The real estate sector's crude steel consumption is expected to maintain negative growth due to ongoing inventory pressure, with new construction and construction area decreasing by 22.8% and 9.2% respectively [2] - The housing inventory sales ratio has remained high, indicating that further inventory reduction is needed, with projections suggesting it will only decrease to 19.5 months by year-end, still above the warning line of 18 months [2] Group 3 - Infrastructure steel consumption support is weakening, with significant project investment declining after a strong start in early 2023, leading to a slowdown in infrastructure-related steel consumption growth [3] - The issuance of long-term special bonds for major projects is planned to be 800 billion yuan for 2025, which is 100 billion yuan more than in 2024, but the support for infrastructure steel consumption may weaken in the second half of the year [3] Group 4 - Manufacturing steel consumption is facing challenges due to insufficient support for equipment upgrades and a slowdown in high-tech manufacturing investment growth [4][5] - The support for "old-for-new" consumption in consumer goods is expected to decrease in the second half of the year, which may further weaken the demand for related crude steel consumption [5] Group 5 - Steel exports are anticipated to be lower in the second half of the year due to anti-dumping measures affecting exports to Southeast Asia and the Middle East, with a significant reduction in exports to Vietnam [6] - The export of steel billets has increased significantly, raising concerns within the industry, leading to suggestions for export restrictions [6] Group 6 - In a neutral demand scenario, crude steel daily average demand from June to December is expected to decrease by 5.6% compared to May, with an annual demand decline projected at 1.5% [7]

Core Viewpoint - The province of Shaanxi is enhancing its transportation infrastructure through comprehensive planning, innovative reforms, and pilot projects to establish a robust multi-dimensional transportation network that supports high-quality development [1][2]. Group 1: Deepening Comprehensive Transportation Reform - Shaanxi is innovating toll road policies and streamlining processes for transportation enterprises to improve efficiency [1]. - The province is focusing on building a disaster monitoring and early warning system for major infrastructure such as highways, bridges, and tunnels [1]. - Strengthening the supervision of railway construction and improving the comprehensive transportation management system are key initiatives [1]. Group 2: Advancing Transportation Power Construction Pilot Projects - The first batch of pilot projects for transportation power construction includes "Southern Shaanxi Transportation Tourism Landscape" and "Dao Class Accommodation," recognized as national innovative projects in 2022 [1]. - The modernization of Xi'an Xianyang International Airport is included in the Civil Aviation Administration of China’s "Four Types of Airports" demonstration projects [1]. - The "Qinling Tunnel Safety Prevention and Control System" has achieved significant results, and the integration of agriculture and transportation has been selected as a new batch of pilot projects [1]. Group 3: Promoting Green and Low-Carbon Transformation in Transportation - By 2024, Shaanxi aims for railway freight volume to reach 500 million tons, with railway freight turnover accounting for 57.7% [2]. - The province is pushing for large-scale equipment updates in transportation, seeking 344 million yuan in special bond subsidies to support the transition to new energy buses and the scrapping of old vehicles [2]. - The implementation of a "Sustainable Travel Project" aims for full coverage of charging stations in qualified highway service areas and parking zones [2].

Group 1 - The core viewpoint emphasizes the increasing importance of China's initiatives for the long-term development of Central Asia, marking a golden opportunity for upgrading cooperation between China and Central Asian countries [2][4] - The second China-Central Asia Summit resulted in over a hundred cooperation agreements, with the six heads of state declaring 2025-2026 as the "High-Quality Development Years" for China-Central Asia cooperation, focusing on trade, investment, and connectivity [2][3] - The summit serves as a key platform for enhancing bilateral relations, achieving significant cooperation agreements in infrastructure, energy, security, and trade, while promoting the Belt and Road Initiative to enhance regional connectivity [2][3] Group 2 - The relationship between Kazakhstan and China is steadily developing under the strategic guidance of both nations' leaders, expanding beyond mere economic cooperation to include regional stability and sustainable development [3][4] - Cooperation between Kazakhstan and China is diversifying into areas such as green economy, digital technology, and agricultural modernization, with multiple wind and solar projects initiated [3][4] - China's global initiatives focus on sustainable development, poverty reduction, and promoting South-South cooperation, which aligns with the economic diversification needs of Central Asian countries [3][4]