上海，又有重磅政策出炉！ 10月11日消息，上海市人民政府办公厅印发《关于加快推动前沿技术创新与未来产业培育的若干措施》。 其中提出，发展壮大脑机接口、具身智能等领域，加快培育第四代半导体、硅基光电子、第六代移动通信、类 脑智能等领域。 加速布局量子科技、可控核聚变、再生医学等领域。 支持取得关键核心技术突破的科技型企 业上市融资。 支持项目经理团队以产品为导向，围绕重点领域制定培育方案与任务清单，组织国家战略科技力量、科技创新 企业等多方力量开展联合攻关，实施"里程碑"式全生命周期项目管理和动态优化调整机制。面向重点领域研究 布局市级科技重大专项，通过直接补助、资本金注入等方式给予支持。 支持高质量孵化器建设与运行，按照规定给予最高2000万元支持。支持高质量孵化器与高校、科研机构、科技 企业开展合作，强化专业服务能力，完善功能服务体系，设立概念验证基金。支持建设概念验证平台、中试平 台、共性技术研发平台等专业服务平台机构，按照规定给予最高3000万元支持。 培育壮大科技创新企业 《若干措施 》提出，支持未来产业生态主导型科技企业前瞻谋划新赛道，加速投资、孵化未来产业创新主 体。聚焦重点发展领域，对创新投入 ...

9月24日，江苏省新质生产力促进中心发布了2025年度江苏独角兽企业和瞪羚企业评估结果，吴江开发区共有15家企业入选潜在独角兽企业，12家企业入 选瞪羚企业。 在本次公布的江苏省潜在独角兽企业名单中，吴江区共有21家企业入围，其中15家来自吴江开发区，占比达71.4%；在瞪羚企业名单中，吴江区入选企业 为30家，吴江开发区占12家，占比为40%。 近年来，吴江开发区通过持续优化制度供给与企业服务体系，积极引导金融资源向优质科技型企业聚集，有力助推企业加速成长，逐步形成了以独角兽和 瞪羚企业为代表的创新型产业集群。截至目前，已累计培育独角兽（含培育）企业27家、市级以上瞪羚企业115家，为区域新经济发展和科技创新中心建 设提供了坚实的科技支撑。 接下来 吴江开发区将进一步强化创新生态建设，聚焦关键核心技术攻关，加大高层次人才引进力度，完善科技金融服务链条，推动更多科技型企业实现高质量跨 越式发展，为构建现代化产业体系持续注入新动能。 | 0 | 办州诺丹有给忧桃月限公司 | 吴江井友区 | | --- | --- | --- | | 7 | 苏州市安美材料科技有限公司 | 吴江开发区 | | 8 | 苏州新尚思 ...

降息的靴子终于落地。九月十八日凌晨，美联储正式宣布降息25个基点，还释放了信号——今年内可能再降一到两次。 时隔一年，美国又拉开了降息周期的序幕，这意味着超过千亿美元的资本要往全球市场流了。这事儿听着像个确定的好消息，但大家先别着急下结论，这次 降息远没表面看起来那么简单。 首先得说，这次降息的幅度完全符合市场预期。可能有人会问，就降25个基点，是不是太谨慎了？但实际上，这个幅度刚好合适。 要是美联储敢激进降息，比如一下降50个基点，市场反而会多想——是不是美国经济出了大问题，甚至要衰退了？一旦这么想，恐慌情绪很容易起来。 美股要是大幅波动，全球那些容易受影响的资产（比如股票、基金）都躲不开，咱们A股市场也得跟着承压。所以说，25个基点是理性又克制的选择：既告 诉市场"接下来会放宽松"，又避免大家反应过度。 更值得关注的是，现在市场预期十月再降息的概率已经飙到了97.4%，宽松的趋势已经没什么可怀疑的了。 但真正要警惕的是美联储的"组合策略"——一边降息放钱到市场里，一边还维持着缩表的节奏不变。所谓缩表，就是美联储卖出手里的债券，把市场上的钱 收回来。 一边放水、一边抽水，这看似矛盾的操作背后，其实是美联储在 ...

原标题：我国科技事业取得历史性成就 9月18日，国务院新闻办公室举行"高质量完成'十四五'规划"系列主题新闻发布会。科技部部长阴 和俊在会上表示，5年来，我国科技事业取得历史性成就、发生历史性变革。 创新能力稳步提升 重大科技成果加速涌现。"天宫"空间站转入常态化运营，新能源汽车产销量稳居世界首位，CR450 动车组巩固扩大高铁技术世界领跑优势，全球首座第四代核电站商运投产，特高压输变电世界领先，光 伏、风电装机容量居世界首位。 高新技术产业规模不断壮大。规上高技术制造业增加值较"十三五"末增长42%；"三新"经济增加值 占GDP的比重达18%；人工智能、生物科技等前沿领域正在形成新的经济增长点。 科技部副部长邱勇介绍，自2020年起，科技部开展职务科技成果赋权试点，共40家单位在3年试点 期内以转让、许可、作价投资等方式转化科技成果合同金额累计120.9亿元，比试点前3年增长126.5%， 带动28个省份近700家单位开展省级赋权试点。 中国技术交易所、上海技术交易所、深圳证券交易所3家国家知识产权和科技成果产权交易机构， 12个国家科技成果转移转化示范区，以及高校院所自建的1084家技术转移机构，高校和企 ...

Core Viewpoint - The majority of major industry ETFs in the US stock market experienced declines, with the energy sector ETF dropping nearly 1%, while the global airline industry ETF saw an increase of over 4% [1] Industry Performance Summary - **Global Airline Industry ETF**: Current price at 24.84, increased by 0.97 (+4.06%), with a trading volume of 766,000 shares and a total market value of 78.246 million, down 2.01% year-to-date [2] - **Consumer Discretionary ETF**: Current price at 220.04, increased by 1.09 (+0.50%), with a trading volume of 161,800 shares and a total market value of 27.638 billion, down 1.44% year-to-date [2] - **Semiconductor ETF**: Current price at 286.80, increased by 1.38 (+0.48%), with a trading volume of 416,800 shares and a total market value of 3.39 billion, up 18.43% year-to-date [2] - **Global Technology ETF**: Current price at 93.67, decreased by 0.01 (-0.01%), with a trading volume of 7,760 shares and a total market value of 1.311 billion, up 10.74% year-to-date [2] - **Technology Sector ETF**: Current price at 257.57, decreased by 0.26 (-0.10%), with a trading volume of 344,900 shares and a total market value of 81.922 billion, up 11.15% year-to-date [2] - **Financial Sector ETF**: Current price at 52.34, decreased by 0.06 (-0.11%), with a trading volume of 1.8149 million shares and a total market value of 58.257 billion, up 9.06% year-to-date [2] - **Consumer Staples ETF**: Current price at 80.64, decreased by 0.17 (-0.22%), with a trading volume of 1.8377 million shares and a total market value of 13.647 billion, up 3.84% year-to-date [2] - **Regional Bank ETF**: Current price at 62.98, decreased by 0.14 (-0.22%), with a trading volume of 379,700 shares and a total market value of 5.256 billion, up 5.78% year-to-date [2] - **Healthcare ETF**: Current price at 135.08, decreased by 0.41 (-0.30%), with a trading volume of 735,700 shares and a total market value of 25.850 billion, down 0.96% year-to-date [2] - **Banking Sector ETF**: Current price at 58.20, decreased by 0.18 (-0.32%), with a trading volume of 29,790 shares and a total market value of 4.504 billion, up 6.39% year-to-date [2] - **Biotechnology Index ETF**: Current price at 131.87, decreased by 0.42 (-0.32%), with a trading volume of 58,256 shares and a total market value of 10.470 billion, down 0.17% year-to-date [2] - **Utilities ETF**: Current price at 81.59, decreased by 0.31 (-0.38%), with a trading volume of 1.0498 million shares and a total market value of 11.845 billion, up 9.31% year-to-date [2] - **Internet Sector Index ETF**: Current price at 268.18, decreased by 1.33 (-0.49%), with a trading volume of 5,097 shares and a total market value of 17.807 billion, up 10.28% year-to-date [2] - **Energy Sector ETF**: Current price at 87.30, decreased by 0.76 (-0.86%), with a trading volume of 1.1767 million shares and a total market value of 21.862 billion, up 3.55% year-to-date [2]

Core Insights - The article discusses the development trends of venture capital institutions in Shenzhen over the past year, particularly focusing on the impact of the new "National Nine Articles" implemented in 2024 on the fundraising, investment, and exit cycles of private equity and venture capital [1][2]. Group 1: Investment Trends - Shenzhen's private equity and venture capital funds have shown a significant increase in investments in "hard technology" sectors, with notable growth in aerospace and defense (up 25.46%), semiconductors (up 12.17%), and biotechnology (up 6.46%) [1][7]. - The total number of projects in the "hard technology" category has reached 10,900, representing a year-on-year increase of 5.71%, with a three-year average annual growth rate of 11.14% [7]. Group 2: Exit Performance - The number of exit projects for Shenzhen's private equity and venture capital funds reached 1,954 in 2024, marking a new three-year high and a year-on-year increase of 96.42% [2]. - The actual exit amount for 2024 was 588.31 billion yuan, reflecting a growth of 70.28% compared to 2023 [2]. - Public market exits have also seen significant growth, with 331 projects exiting through this channel, a nearly 90% increase, and an actual exit amount of 222.41 billion yuan, up 104.50% [2][3]. Group 3: Funding Sources - The participation of long-term funds in Shenzhen's private equity and venture capital sector has increased, with the number of long-term fund investors rising by 16.74% to 2,381.06 billion yuan in 2024 [4]. - The number of guiding fund investors increased by 24.32% to 624, with a total investment of 909.47 billion yuan, a year-on-year growth of 14.11% [4]. Group 4: Fund Management Growth - As of the end of 2024, there were 801 private equity and venture capital fund managers in Shenzhen, managing a total of 3,429 funds with a combined scale of 4,103.42 billion yuan, representing a year-on-year growth of 4.13% in fund numbers and 1.13% in scale [6]. - The number of private equity and venture capital funds has increased by 165% since the end of 2018, with an average annual growth rate of 24.09% [6].

Core Viewpoint - The article discusses the valuation of global stock indices, U.S. Treasury indices, and the limited availability of investment options in mainland China for overseas markets, while highlighting the potential for investment through various funds available abroad [1][4]. Group 1: Global Stock Market Overview - The global stock market has seen a decline, with the overall index rating dropping to 3.6 stars, and the U.S. stock market index falling by 2.5% this week [5][26]. - Hong Kong stocks have outperformed globally, with the Hang Seng Index rising by 1% and the Hong Kong Dividend Index increasing by over 2% [7][8][9]. - The Hong Kong dividend stocks have shown a strong performance, continuing to rise for six consecutive weeks since early April [10]. Group 2: Dividend Yield and Tax Implications - The default dividend yield for Hong Kong dividend stocks is relatively high, reaching 6-7% in some cases, but investors face a 20% withholding tax on H-shares and 28% on red-chip stocks when investing through the Stock Connect [14][15]. - The article notes that the dividend yields presented in the valuation table have already accounted for these withholding taxes [17]. Group 3: Impact of Tariffs on U.S. Markets - Recent fluctuations in the U.S. stock market are attributed to tariff announcements by former President Trump, which may lead to increased inflation and affect the Federal Reserve's interest rate decisions [18][23]. - The article suggests that higher tariffs are primarily a negotiation tool rather than a fundamental objective, indicating that there is no need for excessive concern [25]. Group 4: Investment Opportunities - There are currently no global stock index funds available in mainland China, but there are substantial global stock index funds abroad, amounting to over a trillion dollars [28]. - The company has introduced a "Global Index Advisory Portfolio" that diversifies investments across U.S., UK, Hong Kong, and A-shares to track the global stock market [29]. Group 5: Book Promotion - The article promotes the newly released sixth edition of "The Long-Term Investment Guide," which has gained significant popularity, ranking first in sales on major platforms [31][32]. - The book provides updated data and insights on various asset classes, emphasizing that stocks are the best long-term investment for wealth accumulation [34][35].

Group 1 - Shanghai Jingfeng Mingyuan Semiconductor Co., Ltd. and Wuhan Changying Tongguang Technology Co., Ltd. have received shareholder approval for their asset purchase proposals, marking a significant step in their merger and acquisition processes [1] - Since the release of the "Eight Measures for Deepening the Reform of the Sci-Tech Innovation Board," the number of M&A transactions on the Sci-Tech Innovation Board has reached 100, indicating increased market activity and supporting high-quality development for listed companies [1] - The total disclosed transaction amount for these 100 M&A deals exceeds 24.7 billion yuan, with 39 new M&A transactions disclosed this year alone [1] Group 2 - Companies are utilizing various funding methods such as private placements, directed convertible bonds, and bank loans to enhance capital efficiency for acquisitions [2] - The 100 M&A transactions are primarily industrial mergers, focusing on companies within the same industry or related upstream and downstream sectors, which helps enhance product offerings and expand customer bases [2] - For instance, Xidi Microelectronics Group plans to acquire 100% of Shenzhen Chengxin Micro Technology Co., Ltd. to fill technology gaps in the AC-DC chip sector [2] Group 3 - Sci-Tech Innovation Board companies are also acquiring overseas mature enterprises to enhance international presence, with 15 overseas acquisition deals disclosed since the "Eight Measures" [3] - Acquisitions of unprofitable companies are aimed at strengthening supply chains, with 27 such deals reported since the "Eight Measures," including Shanghai Silicon Industry Group's acquisition of stakes in its subsidiaries to control the 300mm silicon wafer supply chain [3]