中经记者石健北京报道 随着"发展中化债"持续深入，一些地方国资正加速科创类、产业类资产剥离。 近期，《中国经营报》记者注意到，绍兴滨海新区发展集团有限公司（以下简称"滨海新区发展集团"） 公告称，剥离公司及子公司的多项具有科创属性的资产至绍兴滨海新区科创产业发展有限公司（以下简 称"滨海新区科创产发"）。此外，亦有一些地方国资公司剥离产业类资产。 对此，多位地方国资人士对记者表示，地方国资剥离产业类、科创类资产，一方面有助于城投聚焦主责 主业，在区域内更快搭建产投平台，实现地方产业升级和高质量发展。另一方面，也有助于剥离出的相 关主体发行科创债，优化融资渠道。 剥离科创类、产业类资产 "传统城投公司的主业和优势，还是集中于基础设施建设和公共服务提供的职能，虽然从市场化转型角 度，在某些行业和领域，开展了一些产业投资和项目孵化培育工作，但是与科创债的发行政策目的，还 是存在差异。且从技术面、风险面的融资风险来看，科创债要求资金严格投向实质性的科技创新项目， 这需要发行主体具备充足的科技创新项目的储备、专业的技术研判能力和成熟的项目管理经验。"丁伯 康表示。 "瘦身"成趋势 对于此次无偿划转资产背景及原因，滨海新 ...

科创板深化改革稳步落地。7月13日，上海证券交易所发布施行《上海证券交易所科创板上市公司自律 监管指引第5号——科创成长层》等5项配套业务规则。 其中，《科创成长层指引》将规范科创板科创成长层上市公司日常监管。当日，上交所方面在答记者问 时表示，这次改革没有针对未盈利企业纳入科创成长层设置额外的上市门槛，存量32家未盈利企业将自 指引发布实施之日起进入科创成长层，新注册的未盈利企业将自上市之日起进入。 设立科创板并试点注册制六年来，改革效应不断放大。特别是"科创板八条"发布实施一年来，科创板改 革"再出发"，服务科技创新和新质生产力发展的能力持续增强。今年6月18日，中国证监会发布《科创 板意见》，进一步发挥科创板"试验田"作用，设置科创成长层，在促进投融资平衡的基础上更好发挥支 持科技创新功能作用。 《科创成长层指引》细化落实《科创板意见》要求，明确科创成长层的具体定位、纳入调出条件、信息 披露要求等。指引共12条，主要包括5方面内容。 明确定位 精准支持 明确科创成长层定位。根据指引，科创成长层精准支持技术实现较大突破、商业前景广阔、持续研发投 入大、上市时处于未盈利阶段的科技型企业。 规定范围：存量+增 ...

上交所发布通知称， 为了落实《中国证监会关于在科创板设置科创成长层 增强制度包容性适应性的意 见》（以下简称《科创板意见》），规范科创板科创成长层上市公司日常监管，保护投资者合法权益， 更好服务科技创新和新质生产力发展，上海证券交易所（以下简称本所）起草了《上海证券交易所科创 板上市公司自律监管指引第5号——科创成长层》（以下简称《科创成长层指引》），现将有关情况说 明如下。 一、起草背景 设立科创板并试点注册制六年来，在中国证监会的领导下，本所坚守科创板板块定位，深化各项制度机 制创新，改革效应不断放大。特别是，"科创板八条"发布实施一年来，科创板改革"再出发"，服务科技 创新和新质生产力发展的能力持续增强。2025年6月18日，中国证监会发布《科创板意见》，进一步 发挥科创板"试验田"作用，设置科创成长层，在促进投融资平衡的基础上更好发挥支持科技创新功能作 用。《科创成长层指引》细化落实《科创板意见》要求，明确科创成长层的具体定位、纳入调出条件、 信息披露要求等。 二、主要内容 《科创成长层指引》共12条，主要包括5方面内容，具体如下： 一是明确科创成长层定位，科创成长层精准支持技术实现较大突破、商业前景 ...

其中提出，加强投资者适当性管理。本次改革没有对个人投资者参与科创成长层股票交易新增 投资交易门槛， 仍为具备"50万元资产＋2年经验"的资金门槛和投资经验即可。 上交所正式发布《科创板上市公司自律监管指引第5号——科创成长层》等配套业务规则。 另外，按照《科创板意见》要求， 投资者投资科创成长层新注册的未盈利科技型企业之前需 要签署专门风险揭示书。 ...

Group 1 - A-shares have broken through the 3500-point mark, a level not seen since January 24, 2022, indicating a potential bull market phase [1][2] - Historically, A-shares have only broken through 3500 points from the bottom four times, with the previous three occurrences being in bull markets [1] - The real estate sector is showing signs of recovery, driven by rumors of solutions to real estate issues, which may support market sentiment [1][2] Group 2 - Supply-side reforms are crucial in addressing internal competition, which will impact domestic demand and technological innovation [1] - The technology sector is experiencing positive changes, with companies like Zhiyuan Robotics planning a reverse merger and Changxin Storage starting its listing guidance, potentially boosting the industry chain and market risk appetite [1] - Recent news includes a 2% increase in pension for retirees and several companies releasing impressive earnings forecasts, indicating positive economic signals [1]

13只科创板股大宗交易平台今日发生交易，合计成交2.56亿元。 证券时报·数据宝统计显示，7月11日共有13只科创板股发生大宗交易，合计成交26笔，累计成交量 1393.65万股，成交额合计2.56亿元。 统计显示，成交金额最多的是威腾电气，今日大宗交易成交量为233.52万股，成交金额6351.84万元；其 次是汇成股份、昀冢科技，今日大宗交易金额分别为5727.15万元、2382.63万元。 折溢价情况来看，今日出现大宗交易的科创板股中，大宗交易成交价格相对收盘价折价率居前的有威迈 斯、达梦数据、复洁环保等，折价率分别为25.02%、21.16%、19.12%。溢价率居前的有汇成股份，溢 价率为0.93%。 股价表现方面，今日科创50指数上涨1.48%，科创板股中，今日上涨的有402只，占68.25%，今日发生 大宗交易的科创板股平均上涨3.58%，其中，涨幅居前的为益方生物、奥浦迈、威迈斯等，涨幅分别为 18.04%、13.45%、6.71%，跌幅居前的有昀冢科技、汇成股份、海目星等，分别下跌1.89%、0.92%、 0.16%。 资金流向方面，今日发生大宗交易的科创板股中，有6股获主力资金净流入，净流 ...

当前，是"十五五"规划编制启动的关键节点，更是科技创新作为高质量发展核心引擎的攻坚时刻。 2025 年，第一财经创新力调研，将扎进科创产业赛道，围绕"独角兽"等高成长企业，展开"实打 实"调研与探访。 诚挚邀请您畅所欲言、建言献策，共同擘画"十五五"高质量发展新蓝图。 调研咨询联系： 胥女士 13918980666 张女士 18602186206 高成长企业，主要包括瞪羚、潜力瞪羚、独角兽、潜力独角兽等四类企业。作为创新驱动与高质量发 展的生力军，高成长企业对政策环境、产业生态的感受可以说最为敏锐，其发展诉求对规划编制也具 有非常强的参考价值。 为了更好聚焦这些具有技术创新性和成长潜力的企业，第一财经现开展"我为'十五五'建言"的企业调 研活动，以期了解上海"十四五"规划的实施成效，同时听取企业对上海"十五五"规划的政策诉求。 同时我们深知，线上问卷难以完全捕捉企业发展的深层脉络与独特挑战。因此，本次调研将不止步于 线上问卷。在问卷回收分析的基础上，第一财经将组织针对性的线下实地走访与深度访谈，与高成长 企业创始人、高管进行"一对一"或"小范围"的面对面深入交流，力求更全面、更精准地把握企业核 心关切与发展痛 ...

Group 1 - The establishment of the Hangzhou Overseas Students Association Financial Investment Working Committee aims to leverage the unique advantages and global perspectives of overseas returnees in technology, industry, and finance, facilitating the key processes of project implementation, growth, and financing [1][3] - The committee is expected to respond to the 2025 new financial policy direction by identifying potential technology innovation projects and playing a crucial role in early, small, long-term, and hard technology investments [3] - The committee plans to enhance collaboration with various sectors, including fund towns and government departments, to create a cooperative development environment and establish a long-term incubation mechanism for overseas returnee technology projects [3] Group 2 - The inaugural event included a salon where experts and scholars from technology enterprises, investment institutions, and the financial industry discussed themes such as the Chinese innovative pharmaceutical industry from an investor's perspective and the commercialization of AI investments [3]

Key Insights - The report indicates that the A-share market is expected to experience a seasonal rebound in July, driven by policy and performance factors, with a stable upward trend anticipated [3][2][1] - The focus for July is on three main lines: consumption, technology, and dividends, with growth sectors like technology expected to have good development prospects and investment opportunities [3][2][1] - The construction industry is seeing a recovery in activity, with a business activity index of 52.8% in June, indicating expansion, while fixed asset investment growth is slowing [5][6] - Infrastructure investment remains high, with broad infrastructure investment growth at 10.44% year-on-year for the first five months of the year, although narrow infrastructure investment growth is at 5.6% [6][9] - The real estate sector is under pressure, with a 10.7% year-on-year decline in development investment for the first five months, but policy measures are expected to improve market confidence [7][9] - The floating rate bond market is developing, with a current market size of approximately 495.9 billion yuan, accounting for about 0.3% of the total bond market [13][12] - The banking sector is benefiting from a supportive monetary policy environment, with expectations of continued easing and structural policy tools to support key areas like technology and consumption [20][21][23]

Core Viewpoint - The Tiankai Innovation Demonstration Industrial Park in Nankai District, Tianjin, is rapidly being constructed, featuring a modular design that allows production units to be freely combined based on enterprise needs, representing a significant exploration of maximizing space efficiency in urban industrial development [1]. Group 1 - The Tiankai Innovation Demonstration Industrial Park covers an area of 200,000 square meters and is the largest "industrial building" project in Tianjin's central urban area [1]. - Nankai District has constructed 16 science and technology innovation projects, releasing 944,000 square meters of space and driving fixed asset investment of 8.36 billion yuan [1]. - The district aims to create a "class Haidian" innovation and entrepreneurship ecosystem by benchmarking against Zhongguancun, focusing on expanding university space resources and revitalizing research institute resources [1]. Group 2 - Nankai District has identified 58 plots of idle land resources totaling 1.347 million square meters and established an information platform for precise policy implementation [2]. - The district emphasizes the need to "expand" industrial land while "protecting" industrial land, implementing tailored strategies for each case and enhancing targeted investment attraction [2].