编者按 历史见证壮阔征程，时间镌刻奋斗足迹。"十四五"收官在即，江苏以习近平新时代中国特色社 会主义思想为指引，干在实处、走在前列，经济社会发展质量和水平不断跃升，有力扛起经济大省挑大 梁的责任担当。本报今起推出"奋进'十四五' 奋力走在前"系列报道，聚焦江苏五年来各领域发展成就， 敬请关注。 今年是"十四五"规划收官之年，眼下正是满目金黄的丰收季节，江苏也即将迎来"丰收时刻"："十四 五"以来，这个经济大省，交出了全省地区生产总值连跨3个万亿元台阶、2024年达13.7万亿元，增量全 国领先，经济总量占全国比重始终稳定在10%以上的亮眼成绩单。 没有一份成绩的取得是容易的。这五年，是江苏经历疫情冲击、防控平稳转段、全力恢复的曲折前进的 五年，也是面对愈发复杂多变的国际环境，坚定信心"稳中有进"高质量发展的五年。 牢记嘱托、感恩奋进，五年间，江苏自觉扛起经济大省挑大梁责任，奋进在强国建设新征程上，推动经 济实现质的有效提升和量的合理增长，当好筑牢全国发展的"压舱石"，奋力在推进中国式现代化中走在 前、做示范。 "体格"更壮，三次产业均衡增长 13个设区市全部跻身全国百强、5个城市经济总量过万亿元，人均GDP超 ...

Core Viewpoint - The market is expected to continue its upward trend, with a focus on investment opportunities in the semiconductor and large aircraft sectors due to the increasing competitiveness of China's technology industry [1][2]. Investment Framework - The investment framework consists of four dimensions: cycle, growth, theme, and market style, which helps in selecting industries and stocks from an alpha perspective [1]. - The cycle dimension serves as the foundation, while the growth dimension addresses investment space. The theme and market style dimensions enhance investment efficiency [1]. Investment Strategy - Left-side positioning should not be blind bottom-fishing; it requires balancing time cost and return space, focusing on short-term profit improvement indicators [2]. - The semiconductor industry is highlighted for its growth potential due to domestic substitution, offering greater return space compared to traditional cyclical industries [2]. Specific Investment Directions - The semiconductor sector is favored due to the combination of cycle turning points and domestic substitution, along with AI empowerment opening new opportunities [3]. - The large aircraft industry is expected to enter a performance release phase as domestic production accelerates and delivery volumes increase [3]. - The innovative drug sector is gaining attention as international pharmaceutical companies frequently acquire rights to domestic new drugs, indicating the rising global competitiveness of Chinese innovative drugs [3]. - Cyclical industries and certain consumer sectors are anticipated to reach turning points as policies gradually take effect [4].

Group 1: Urban Agglomeration Development - The core idea emphasizes that the competition in the global economy is increasingly centered around urban agglomerations, with the Yangtze River Delta (YRD) being positioned as a world-class urban cluster [3][9] - The YRD urban agglomeration includes 27 cities across Shanghai, Jiangsu, Zhejiang, and Anhui provinces, showcasing its extensive connectivity and integration [7][12] - The recent policies aim to enhance the YRD's role in national strategy and global competition, focusing on high-quality development and urban integration [8][9] Group 2: Transportation and Connectivity - The completion of the Jiaxing Airport and the expansion of high-speed rail have significantly improved transportation efficiency within the YRD, facilitating easier access between cities [2][15] - The YRD's railway network is projected to exceed 15,000 kilometers by the end of 2024, with over 7,700 kilometers dedicated to high-speed rail, enhancing daily passenger capacity [15] - The "Yangtze River Delta Super Ring High-Speed Railway" has commenced operations, further connecting key cities in the region [15] Group 3: Industrial Collaboration and Economic Integration - The YRD is characterized by a high degree of industrial collaboration, with cities forming interdependent industrial chains, particularly in sectors like new energy vehicles and aerospace [16][21] - The region is home to nine cities with GDPs exceeding 1 trillion, indicating its economic strength and potential for further growth [12] - The establishment of frameworks for cooperation in various industries, such as the large aircraft industry, highlights the YRD's ambition to create globally competitive industrial clusters [21][22] Group 4: Global Competitiveness and Future Prospects - The YRD is recognized as one of the six world-class urban agglomerations, with ongoing efforts to enhance its economic development and infrastructure [19][20] - The region's geographical advantages, including its access to major ports like Shanghai and Ningbo, facilitate international trade and economic interactions [20] - The focus on emerging industries, such as low-altitude economy and large aircraft manufacturing, positions the YRD for significant future growth and competitiveness on the global stage [21][22]

Core Viewpoint - The article emphasizes the development of the Yangtze River Delta (YRD) urban agglomeration as a world-class city cluster, highlighting its strategic importance in China's economic landscape and its potential for high-quality growth in various industries, including low-altitude economy and advanced manufacturing [1][6][15]. Group 1: Urban Agglomeration Development - The YRD urban agglomeration, centered around Shanghai, includes 27 cities across Jiangsu, Zhejiang, and Anhui provinces, showcasing a tightly connected network that enhances regional collaboration and competitiveness [5][7]. - Recent policies, such as the "Opinions on Promoting High-Quality Urban Development," support the YRD's goal of becoming a world-class city cluster, emphasizing integrated planning and cooperation among cities [1][7]. - The YRD has been recognized as a leading example of urban agglomeration development in China, with a focus on creating a unique model for city cluster growth [6][7]. Group 2: Transportation and Connectivity - The completion of the Jiaxing Airport and the expansion of high-speed rail significantly improve connectivity within the YRD, facilitating easier travel and fostering economic integration [1][12]. - By the end of 2024, the YRD's railway operating mileage is expected to exceed 15,000 kilometers, with over 7,700 kilometers dedicated to high-speed rail, enhancing daily passenger flow [12]. - The "Yangtze River Delta Super Ring High-Speed Railway" has commenced operations, further linking key cities and promoting regional economic collaboration [12]. Group 3: Industrial Collaboration - The YRD is home to multiple industrial clusters, particularly in sectors like new energy vehicles and aerospace, where cities collaborate rather than compete, creating interdependent supply chains [13][17]. - The region's focus on high-tech industries and strategic emerging sectors is evident, with significant investments in areas such as low-altitude economy and large aircraft manufacturing [16][17]. - The establishment of frameworks for cooperation, such as the "Yangtze River Delta Large Aircraft Industry Cluster Cooperation Framework Agreement," aims to enhance the region's competitiveness in global markets [17]. Group 4: Global Competitiveness - The YRD urban agglomeration is positioned as a key player in the global economy, with its development trajectory compared to other world-class city clusters like New York and Tokyo [15][16]. - The region's geographical advantages, including access to major ports like Shanghai and Ningbo-Zhoushan, facilitate international trade and economic interactions [16]. - The YRD's potential for growth is bolstered by China's vast consumer market and manufacturing capabilities, making it a critical area for future investment and development [15][16].

Core Viewpoint - The article emphasizes the development of the Yangtze River Delta (YRD) urban agglomeration as a world-class city cluster, highlighting its strategic importance in China's economic landscape and its potential for high-quality growth in various industries, including low-altitude economy and advanced manufacturing [1][3][20]. Group 1: Urban Agglomeration Development - The YRD urban agglomeration, centered around Shanghai, includes 27 cities across Jiangsu, Zhejiang, and Anhui provinces, and is positioned as a leader in China's urban development strategy [5][7]. - Recent policies, such as the "Opinions on Promoting High-Quality Urban Development," support the creation of world-class city clusters, with the YRD being a key focus area [1][7]. - The integration of transportation and industry within the YRD is crucial for enhancing competitiveness and fostering collaboration among cities [6][8]. Group 2: Transportation Infrastructure - The YRD has a robust transportation network, with over 15,000 kilometers of railway, including more than 7,700 kilometers of high-speed rail, facilitating efficient connectivity among cities [13]. - The launch of the "YRD Super Ring High-Speed Rail" enhances intercity travel, further promoting economic integration [13]. - High-speed rail is expected to play a pivotal role in linking cities of various sizes, not just major urban centers [13]. Group 3: Industry Collaboration - The YRD is home to significant industrial clusters, particularly in sectors like new energy vehicles and aerospace, with cities specializing in different aspects of production and innovation [14][20]. - The region's collaborative approach allows cities to leverage their unique strengths, such as Shanghai's R&D capabilities and Suzhou's manufacturing prowess, creating a symbiotic industrial ecosystem [16][21]. - The establishment of the C919 aircraft production framework exemplifies the cross-regional cooperation in advanced manufacturing, with a focus on building a competitive global supply chain [20][21]. Group 4: Global Competitiveness - The YRD urban agglomeration is recognized as one of the six world-class city clusters, but it still faces challenges in terms of economic development and global influence compared to its international counterparts [2][17]. - The region's geographical advantages, including access to major ports like Shanghai and Ningbo, enhance its global trade connectivity [19]. - The potential for growth in emerging sectors, such as low-altitude economy, is significant, with the need for strategic planning and collaboration among cities to maximize development opportunities [21].

Group 1 - Jiangsu is focusing on high-quality development during the "14th Five-Year Plan" period, accelerating industrial transformation and upgrading with over 61,000 smart manufacturing and digital transformation projects implemented, covering most industrial enterprises above designated size [3] - The province has established 14 national advanced manufacturing clusters, including high-end instruments, photovoltaic, large aircraft, marine engineering equipment, and high-tech ships, ranking first in the country [3] - In 2024, Jiangsu's GDP is projected to reach 13.7 trillion yuan, with marine production value exceeding 1 trillion yuan, and the shipbuilding market share accounting for over 25% of the global market [5] Group 2 - Jiangsu is promoting the deep integration of technological innovation and industrial innovation, creating major innovation platforms such as Suzhou Laboratory, Zijinshan Laboratory, and Taihu Laboratory, achieving significant results [7] - The number of national-level specialized and innovative "little giant" enterprises in Jiangsu exceeds 2,200, ranking first in the country [7]

Core Viewpoint - The article discusses the recent release of the "Opinions on Promoting High-Quality Urban Development" by the Central Committee of the Communist Party of China and the State Council, highlighting the transition of urbanization in China from rapid growth to stable development, focusing on improving existing urban areas rather than expanding them [3]. Group 1: Urban Development Strategy - The "Opinions" emphasize the need to promote the integration of urban clusters and the coordinated development of metropolitan areas, aiming to create a modern urban system with a reasonable layout [5][6]. - Support is given to major urban clusters like Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macau Greater Bay Area to become world-class urban clusters, enhancing regional coordination and industrial collaboration [5][6]. - The article outlines the importance of metropolitan areas, which are led by a central city, in driving high-quality industrial development through innovation and labor force integration [6]. Group 2: Investment Opportunities - The article identifies urban clusters and metropolitan areas as key spaces for increasing investment, particularly in rail transit projects, with significant growth potential in high-speed rail and intercity rail construction [7]. - Recent approvals for new high-speed rail projects, such as the Shanghai-Hangzhou line with an investment of approximately 67.1 billion yuan, indicate ongoing infrastructure development [7]. - The article highlights the role of super-large cities in enhancing comprehensive competitiveness and the need for these cities to innovate and optimize their core functions while controlling their scale [7]. Group 3: Small and Medium Cities - The "Opinions" call for improving the capacity of small and medium-sized cities and county towns, focusing on optimizing infrastructure and public services based on population trends [11]. - The article notes that some small cities and counties have attracted significant populations due to their strong economic performance, with examples of counties achieving GDPs exceeding 1 billion yuan [11][12]. - The development of "super towns" and "super counties" is highlighted, with several towns in Guangdong and Jiangsu having populations exceeding 300,000, showcasing the potential for economic growth in these areas [12].

Group 1 - The core viewpoint of the article is that China is transitioning from a rapid urbanization phase to a stable development phase, focusing on improving existing urban areas rather than large-scale expansion [1] - The "Opinions" released by the Central Committee and the State Council outline a blueprint for future urban development in China, emphasizing high-quality urban growth [1][2] - The development of urban agglomerations and metropolitan areas is prioritized, with a focus on enhancing the competitiveness of mega cities and promoting coordinated regional development [2][4] Group 2 - The article highlights the importance of metropolitan areas and urban agglomerations as platforms for international competition, where central cities drive innovation and surrounding areas support manufacturing [3][6] - The Yangtze River Delta region is cited as an example of successful industrial clustering, with significant advancements in sectors like aerospace and biotechnology, showcasing a collaborative innovation model [3] - The article notes that the domestic manufacturing rate for large aircraft has increased from 10% to 60% due to effective collaboration within the Yangtze River Delta [3] Group 3 - The article discusses the potential for investment in urban infrastructure, particularly in rail transport, with new high-speed rail projects being approved, such as the Shanghai-Hangzhou line [4] - The "Opinions" stress the need to enhance the comprehensive competitiveness of mega cities, advocating for the optimization of core functions and the control of urban scale [4][6] - The article mentions the classification of cities based on permanent resident population, identifying super cities and mega cities, which are crucial for economic development [5][6] Group 4 - The article emphasizes the need to improve the capacity of small and medium-sized cities and county towns, advocating for infrastructure optimization and public service enhancement [7] - It highlights the economic disparities between small and large counties, with some small counties achieving significant economic growth through industrial clusters [7][9] - The article notes that as of 2024, the number of counties with a GDP exceeding 1 billion yuan has increased, indicating a trend of economic growth in smaller regions [7][8]

Core Viewpoint - Industrial security is emphasized as a core component of economic security, with a focus on enhancing resilience, technological self-reliance, and high-level openness to improve industrial development quality [1] Group 1: Industrial Scale Expansion - Steady expansion of industrial scale is crucial for industrial security, serving as a stabilizing factor during the transition from middle-income to high-income status [2] - China's manufacturing sector has maintained the largest global scale for 15 consecutive years, showcasing unique advantages in scale and system [2] - Achievements in various sectors, such as high-speed trains and advanced manufacturing, are linked to these scale and system advantages [2] Group 2: Industrial Quality Upgrade - Promoting quality upgrades in industries is essential to avoid low-level repetitive investments that can harm industrial security [3] - Digital transformation is highlighted as a key area, with Shenzhen's manufacturing value added projected to account for about one-third of its GDP in 2024 [3] - The focus on green low-carbon development and advanced industrial clusters is aimed at enhancing industrial safety and creating new growth sectors [3] Group 3: Enhancing Industrial Resilience - Strengthening industrial resilience is necessary for building a modern industrial system and ensuring industrial security [4] - Despite improvements, there are still vulnerabilities in the industrial chain that need to be addressed through technological advancements and diversified supply systems [4] - Monitoring and early warning systems for various risks are essential for enhancing governance resilience [4] Group 4: Expanding High-Level Openness - Expanding high-level openness is vital for improving industrial development quality in the context of deepening economic globalization [5] - China's foreign investment and global capacity layout have accelerated, particularly in relation to the Belt and Road Initiative [5] - Active engagement with international high-standard trade rules and international industrial cooperation is necessary for building a new type of collaborative framework [5]

Group 1 - The core viewpoint emphasizes the importance of advancing the integration of the Yangtze River Delta to enhance innovation capabilities, industrial competitiveness, and development levels, which is crucial for China's new development pattern and high-quality development [1] - The Yangtze River Delta has seen significant advancements in transportation and logistics, with a daily average of 2.51 million railway passengers in the first half of the year, showcasing its role as a dynamic growth hub [1] - The region is recognized as a major national strategy personally planned and promoted by the General Secretary, with a focus on enhancing technological innovation and high-end industry leadership [1] Group 2 - The Yangtze River Delta has launched its second batch of 12 cross-regional innovation consortia, focusing on key areas such as biomedicine, artificial intelligence, and marine technology, with a total of 72 joint research projects implemented [2] - The region has established a robust scientific research ecosystem, with nearly half of the national comprehensive scientific centers located here and over 49,000 large scientific instruments available for shared use [2] - The industrial robot export from the Yangtze River Delta accounted for about half of the national total in the first half of the year, indicating a strong manufacturing base and advanced industrial chain [2] Group 3 - The establishment of the Yangtze River Delta Advanced Manufacturing Cluster Alliance aims to leverage the industrial strengths of the three provinces and one city, promoting collaborative development in sectors like aviation, integrated circuits, and high-end equipment [3] - The total import and export value of the Yangtze River Delta reached 8.16 trillion yuan in the first half of the year, a year-on-year increase of 5.4%, representing 37.4% of the national total [3] - The GDP of the Yangtze River Delta surpassed 16 trillion yuan, with its share of the national GDP continuing to rise [3]