2026.03. 04 本文字数：1022，阅读时长大约2分钟 作者 | 第一财经 黄琳 2026年全国两会即将启幕。今年，全国人大代表、小鹏汽车董事长兼CEO何小鹏围绕自动驾驶等议 题提出建议。 他称，尽管自动驾驶商业化落地需求日益迫切，但现行"分级渐进"的管理框架面临新挑战。同时， 全球自动驾驶的政策与法规窗口期正在迅速收窄，联合国和美国针对L3级以上自动驾驶的法规和量 产部署法案加速落地。 在此背景下，中国在发展组合辅助驾驶（L2级）应用领域具有先发优势，并已在有序推进智能网联 汽车准入和上路通行试点工作。如何在巩固既有安全基础的前提下，加快推动更高级别自动驾驶能力 的适配，成为当前产业绕不开的议题。 何小鹏认为，在高级别自动驾驶落地环节面临国际竞争的压力下，推动自动驾驶从L2跨越L3，直接 向L4跨越，不仅是技术路线的选择，更是制度体系、法规环境与治理能力的系统性升级。加快突破 制约产业发展的关键制度瓶颈，将为中国智能网联汽车和自动驾驶产业在全球竞争中赢得战略主动。 基于此，何小鹏提出四项建议： 一是在保持L2级安全监管体系稳定运行的基础上，推动自动驾驶政策从L2级向L4级跨越，简化L3中 间环节。 ...

Macro and Strategy - The macroeconomic review highlights that the U.S. non-farm payrolls increased by 119,000 in September, significantly above the expected 50,000, with the unemployment rate slightly rising to 4.4% [7] Industry and Company - In the restaurant industry, the report recommends leading companies in the hot pot sector, noting that in October 2025, the A-share, H-share, and U.S. stock markets saw significant gains for several chain restaurants, particularly Guoquan, which projected a revenue increase of 13.6%-25.8% for Q3 2025 [3][8] - The report indicates that the overall restaurant revenue in China increased by 3.8% year-on-year in October, with the CPI showing a slight increase due to holiday effects and domestic demand policies [8] - The report tracks the expansion of coffee brands, with notable growth in the coffee sector, particularly for brands like Nuo Wa, which saw significant store openings [9] - For the home appliance industry, October sales were under pressure, with a 15% decline in retail sales of home appliances, and a 13% drop in export value [13][14] - The report notes that in October, air conditioning sales fell by 20.1%, with expectations of continued pressure on production in December [15] - In the automotive sector, XPeng Motors reported a 149% year-on-year increase in sales for Q3 2025, with total revenue reaching 20.4 billion yuan, marking a 102% increase [19][20] - The report highlights that NVIDIA's revenue for Q3 reached $57 billion, a 62% year-on-year increase, driven by strong demand in data centers and gaming [25][26] - NetEase's revenue for Q3 increased by 8% year-on-year, with deferred revenue growing by 25%, indicating strong long-term operational capabilities [28][30] - Huazhu Group's Q3 revenue grew by 17.5% year-on-year, with a focus on expanding its membership base and improving revenue management [31][32] - Ctrip's Q3 revenue increased by 15.5% year-on-year, with a significant contribution from the sale of Makemytrip, indicating strong performance in the travel sector [34]