■苏诗钰 在此基础上，各地"新年第一会"也着力推动科技创新和产业创新深度融合，究其根本，产业是培育新质 生产力的主阵地，离开产业，科技创新就难以高效发挥培育新质生产力的引擎作用。 值得一提的是，北京提出力争两年左右人工智能核心产业规模突破万亿元，用量化目标倒逼创新效能提 升；还有不少地方把"企业有效发明专利产业化率"作为关键指标，促进实验室里的科研成果，走进生产 车间，变成真正的市场竞争力……在笔者看来，过去谈创新，我们常关注成果数量，如今，各地更看 重"实效"，追求的是创新成果向现实生产力的高效转化，这一转变，将令科创效能充分释放，为经济高 质量发展注入源源不断的动能。 开局关乎全局，起步决定后程。"新年第一会"的部署，是全年发展的"风向标"。多地不约而同把科 创"置顶"，本质上是选择了一条最符合时代要求的发展路径，以创新驱动高质量发展。站在"十五五"的 起点，随着各地部署落地见效，我国创新驱动发展的根基将愈发牢固，成效将愈发显著。 从北京冲刺全球人工智能创新高地，到湖北攻坚核心技术"卡脖子"难题，再到重庆打造万亿元级产业集 群，一系列举措勾勒出一条"以科创为引擎，培育新质生产力"的发展路径。而这一集体选择 ...

Global Market Overview - The Federal Reserve's monetary policy adjustments have been a core variable affecting global markets, with a pause in tightening announced in Q1 2025 after three rate hikes in 2024, leading to significant capital flow restructuring [3] - Emerging markets attracted over $80 billion in foreign capital inflows in the first four months of the year, a 65% increase compared to the same period last year, with Southeast Asian and Latin American markets being the focal points [3] - In contrast, developed economies in Europe and the US are still in an adjustment phase, with the Eurozone facing energy price volatility and weak manufacturing recovery, resulting in a 3.2% decline in the Euro against the Dollar [3] China Economic Performance - China's economy demonstrated strong resilience with a Q1 GDP growth of 5.2%, driven by high-end manufacturing and the digital economy [4] - The production of new energy vehicles increased by 35%, industrial robots by 28%, and the core AI industry scale surpassed 5 trillion yuan, indicating a shift towards an innovation-driven model [4] - The A-share market exhibited structural characteristics, with the Sci-Tech Innovation Board rising by 12.6% this year, outperforming the broader market, particularly in strategic emerging industries like semiconductors and biomedicine [4] Investment Strategies - Investors are encouraged to establish a diversified asset allocation framework in response to the complex market environment [5] - The commodity market is undergoing structural changes, with rising demand for lithium and cobalt due to the increasing share of renewable energy, and global battery demand expected to exceed 2 TWh in 2025 [5] - Green bonds are emerging as a growth point, with global issuance expected to surpass $500 billion this year, and China accounting for 25% of this market [5] - Three main investment themes are suggested: globally competitive high-end manufacturing firms, service companies benefiting from consumption upgrades, and tech companies positioned to capitalize on the digital economy [5] Conclusion on Global Financial Landscape - The global financial landscape is undergoing profound changes, presenting both challenges and opportunities for investors [6] - A scientific investment framework and a long-term perspective are essential for navigating the complexities of the financial waves in this uncertain era [6]