本文来自微信公众号：经济观察报 （ID：eeo-com-cn），作者：杜涛，题图来自：AI生成 1930年，经济学家约翰·梅纳德·凯恩斯（John Maynard Keynes）在《我们孙辈的经济可能性》一文中作 出预测：100年后，劳动生产率会提高8至10倍，每人每周只需要工作15个小时。 到那个时候，"经济问题"可能得到解决，人们面临的主要问题将是如何消磨时间。 如今，随着AI（人工智能）技术的突破和机器人产业化曙光初现，凯恩斯所预测的"人从工作中解脱"似 乎有了实现的可能。但与此相对，社会学家、法学家和税收专家更担忧"机器人替代人力"引发的就业问 题，而解决的思路之一就是向机器人"征税"。 韩国仁荷大学法学院教授金英顺对经济观察报表示，从长远来看，人工智能技术应用将催生新职业、改 变工作内容，但从短期内来看，就业市场大概率会受到负面冲击。与以往不同，人工智能技术能够替代 人类的判断与决策过程，或使办公、行政乃至专业领域的岗位面临风险。因此，政府在社会福利政策与 税收政策方面也需作出相应调整。 2025年，金英顺在8月份召开的中韩税法国际研讨会上，以《AI机器人税：税收哲学的核心争论和政策 推演》为题发表 ...

Core Viewpoint - The opening of the first Suning Max store in Anhui marks a significant step towards promoting quality consumption and enhancing the retail landscape in Hefei, aligning with the provincial government's initiative for a "Quality Consumption Season" in 2025 [3][4][10] Group 1: Event Overview - The "2025 Anhui Quality Consumption Season and Suning Max Store Opening Ceremony" took place on September 29, 2025, at the Baogao Wanda Plaza in Hefei, showcasing a commitment to quality consumption and economic revitalization in the region [3][4] - The event was organized by the Anhui Information Home Appliance Industry Association in collaboration with Suning and other notable companies, highlighting a collective effort to enhance consumer experience and market vitality [3][4] Group 2: Store Features and Offerings - The Suning Max store is designed to provide a superior shopping experience, integrating technology, lifestyle, and social interaction, featuring areas for tech products from brands like Huawei, Xiaomi, and Apple [6][8] - The store will offer a 1:1 replication of various home scenarios, including kitchens and living rooms, to enhance consumer decision-making and showcase integrated home solutions [6][8] - Special promotions and exclusive product launches, including the first Xiaomi ecosystem experience store in Anhui and various high-end brand flagship stores, will be available during the opening [8][10] Group 3: Strategic Goals and Future Plans - Suning aims to leverage the Max store as a benchmark for future retail innovations, focusing on personalized and social shopping experiences to drive the adoption of smart home appliances [10] - The company plans to enhance its retail strategy by integrating new functionalities and experiences, thereby stimulating consumer demand and contributing to the overall economic growth in Anhui [10]

Group 1 - The core message indicates that humanoid robots are entering a critical phase of large-scale and industrial application after years of technological validation [2][3] - UQI, a subsidiary of UBTECH, signed a procurement contract with Tianqi Automation for humanoid robots worth 30 million yuan, to be delivered by December 31, 2025 [1] - The humanoid robot market in China is projected to reach 8.239 billion yuan by 2025, accounting for approximately 50% of the global market [2] Group 2 - The industrial sector is identified as the most suitable testing ground for humanoid robots, with a reported 29.9% year-on-year increase in industrial robot production from January to August [3] - Advances in AI models, perception algorithms, and other technologies have significantly improved the dexterity, stability, and autonomy of humanoid robots [3] - The rise in large procurement contracts is driven by technological advancements and decreasing production costs, enabling robots to perform specific tasks like parts handling and quality inspection [3] Group 3 - The development of humanoid robots represents a leap across the entire industry chain, enhancing China's competitiveness in the global robotics field [4] - The industrial application of humanoid robots is just the beginning, with potential expansions into healthcare, education, and other sectors as technology progresses [4]

全域智行环道开创国内首个水陆空全域联动智能交通网络，融合无人车、智能船、无人机与eVTOL， 打造"出行即体验"的未来范式；拥有一名AI医生伙伴，重塑诊疗未来；走入智趣潮玩街区，融合智能导 购、动态生成式橱窗与无感支付，打造"白天是商都、夜晚是秀场"的未来体验……要激活AI，形成"可 见、可感、可互动"的场景矩阵是关键，而浦东已做好了准备，向全球AI梦想家发出"邀请函"。 最新发布的张江人工智能创新小镇正以产业发展、城市治理、生活服务三大类智能场景为引领，构 筑"科技感、想象力与烟火气并存"的未来之城，让市民沉浸式体验未来生活的无限可能，也为产业创新 注入强劲动力，铸就产业发展的集聚高地、治理创新的试验田和未来生活的先行区。 在小镇里充分感受"AI+"的便利 AI不再冷冰冰 人工智能到底改变了什么？是清晨一杯机器人制作的咖啡，是数字人社工为居民提供精准服务，是下班 回家还有AI机器人的互动陪伴……你的手机、汽车、家电，正变得越来越"懂你"。AI不再是冷冰冰的代 码，而是贴心的生活助手。 "比如我们正在重新定义车载交互体验，让汽车不再是简单的交通工具，而是成为具有情感交互能力的 智能伙伴。"作为张江人工智能创新 ...

Group 1 - The Ministry of Commerce and eight other departments issued 19 specific measures to expand service consumption, focusing on enhancing service quality and promoting consumer activities [1] - The "Service Consumption Quality Improvement and Benefit Action" plan was introduced to strengthen policy support, build platforms, and optimize the consumption environment [1] - The initiative includes the continuous development of the "Buy in China" brand and the launch of a series of promotional activities in key service sectors [1] Group 2 - The Chinese Ministry of National Defense confirmed that the Fujian aircraft carrier is conducting sea trials, which is a normal part of its construction process [2] - The development of the aircraft carrier is aligned with national security needs and technological advancements, emphasizing China's commitment to a defensive national policy [2] - The Fujian carrier is expected to play a significant role in safeguarding national sovereignty and development interests [2] Group 3 - The China National Medical Products Administration released the first industry standard for medical devices using brain-computer interface technology, set to take effect on January 1, 2026 [4] - This standard aims to support the high-quality development of the brain-computer interface medical device industry [4] Group 4 - The Shenzhen Securities Regulatory Bureau issued a warning letter to Qianhai Hongtai Fund Management Co., Ltd. for failing to complete fund filing procedures after fundraising [5] - This action is based on violations of the Private Fund Management Regulations [5] Group 5 - Vanke A received a loan of up to 2.064 billion yuan from Shenzhen Metro Group [8] - Hengwei Technology plans to acquire 75% of Shuheng Technology's shares, leading to a stock suspension [8] - Shanghai Construction's stock has seen significant short-term gains, indicating potential market overheating [8] - Huohai Biotechnology's controlling shareholder received an administrative penalty notice [8] - Funeng Technology plans to mass-produce its third-generation semi-solid battery by 2026 [8] - Luxiao Technology signed an AI robot cooperation agreement with its subsidiary [8] - Haon Electric received a product designation notice, estimating total revenue of approximately 2.477 billion yuan over its lifecycle [8] - Haowei Group has entered NVIDIA's supply chain [8] - AVIC Optoelectronics has shipped UQD connectors and liquid cooling pipe components to overseas manufacturers [8]

Group 1 - The Chinese government is taking measures to expand service consumption through 19 specific initiatives aimed at enhancing service quality and promoting consumer engagement [2] - The Ministry of National Defense emphasizes that China's aircraft carrier construction is driven by national security and technological development needs, with the recent sea trials of the Fujian aircraft carrier being a normal part of the process [4][6] - The China Securities Regulatory Commission (CSRC) is engaging with the International Organization of Securities Commissions (IOSCO) to enhance global securities regulation cooperation [5] Group 2 - Shenzhen Securities Regulatory Bureau issued a warning to Qianhai Hongtai Fund Management Co., Ltd. for failing to complete fund filing procedures after fundraising [7] - Several companies are making significant moves, such as Hongwei Technology planning to acquire 75% of Shuhang Technology, and Wanxian Qianchao focusing on key component breakthroughs [10][11] - Companies like Luxiao Technology and Haowen Automotive Electric are entering into strategic partnerships and receiving significant product orders, indicating growth potential in their respective sectors [12]

Group 1 - The Chinese government has officially released the industry standard for medical devices using brain-computer interface technology, marking the first standard of its kind in the country, which will take effect on January 1, 2026 [4] - Shenzhen Securities Regulatory Bureau has issued a warning letter to Shenzhen Qianhai Hongtai Fund Management Co., Ltd. for failing to complete fund filing procedures after fundraising, in violation of the Private Fund Management Regulations [5] - Wanxiang Qianchao is focusing on breakthroughs in key components such as planetary roller screws, precision shafts, and precision reducers [7] Group 2 - Tianpu Co., Ltd. has no plans for significant adjustments to its main business in the next 12 months following the asset injection plan from Zhonghao Xinying [7] - Huqin Technology has submitted an application for the issuance and listing of H-shares to the Hong Kong Stock Exchange [7] - Fuchuang Precision's shareholder, Guotou Chuangye Fund, plans to reduce its stake by no more than 3% [7] Group 3 - Vanke A has received a loan of no more than 2.064 billion yuan from Shenzhen Metro Group [7] - Hengwei Technology intends to acquire 75% of Shuheng Technology's shares, leading to a suspension of its stock [7] - Shanghai Construction Group has experienced a significant short-term stock price increase, indicating potential market overheating and irrational speculation [7] Group 4 - Houen Automotive Electric has received a product designation letter, estimating a total revenue of approximately 2.477 billion yuan over its lifecycle [7] - Huowei Group has entered NVIDIA's supply chain [7] - AVIC Optoelectronics has shipped UQD connectors and liquid cooling pipe components to overseas manufacturers [7]

金秋送爽，丹桂飘香。一年一度的金融教育宣传周如期而至，为积极响应监管部门号召，汇丰保险经纪 有限公司（简称"汇丰保险经纪"）携手汇丰人寿保险有限公司（以下简称汇丰人寿）和汇丰银行（中 国）有限公司（以下简称汇丰银行），于9月15日在上海市浦东新区国金中心汇丰银行大楼一楼，共同 举办以"保障金融权益，助力美好生活"为主题的金融知识宣传盛宴，以实际行动普及金融知识，守护消 费者权益。 at -2 les '8 2 SHHH 4 智汇金融守护 共筑美好生活 · 金融健康膳食草单 智汇全融守护 共筑美好生活（D.总 · · 2008年11月11: l De 上 2014 Bi 8031 HSB 1-1-1 g % 78 120 3 6 11 2017 (X) == 金融植 新游 12 2025年金融教育宣传周 I 解特班-99210 The Proper HSBC 1. 防骗专家 0 ... � 24 4 00 120 2 联联警见. qya已经是其的出严重生 4990 HARA 工期讯评 12:55 89 ... x HS 1 Bill 2019-01-2 . In the P. . AND GETHERSE · ...

Market Overview - A-shares indices closed in the green with the Shanghai Composite Index up 0.04%, Shenzhen Component Index up 0.45%, and ChiNext Index up 0.68% on September 16, 2025, with total trading volume reaching 23,414 billion [1] ETF Performance - The automotive parts ETF (562700) led the gains, with several robotics ETFs also showing significant increases of over 5% [2] - The top decliners included the Hong Kong innovative drug ETF, which fell by 2.31%, and the rare metals ETF, which decreased by 2.05% [4] Robotics Industry Insights - Yushu Technology plans to submit IPO materials in Q4 2025, while Zhiyuan Robotics intends to acquire a 29.99% stake in Weaving New Materials [2] - The domestic robotics industry is expected to see substantial growth in shipment volumes, driven by strong capital support and a focus on core supply chains and application scenarios [2] Tesla's Strategic Focus - Tesla is intensifying its focus on robotics, with a new $1 trillion compensation plan for Elon Musk aimed at delivering 1 million AI robots and commercializing 1 million Robotaxis, projecting a market value increase to $8.5 trillion [3] - The release of the "Optimus" robot, featuring advanced capabilities, indicates significant advancements in humanoid robotics [3] Rare Metals Market Analysis - The rare metals sector is experiencing a pullback, with analysts noting that expectations of a Federal Reserve rate cut are driving up prices for non-ferrous metals [5] - Investors are advised to focus on leading companies in the copper and aluminum sectors as liquidity conditions improve [5] ETF Trading Activity - The short-term bond ETF (511360) had the highest trading volume at 39.663 billion, followed by the Silver Daily ETF (211880) and Hong Kong Securities ETF (513090) [6][7] - The Korean Semiconductor ETF (213310) recorded the highest turnover rate at 438.32% [7] Upcoming ETF Issuances - The technology sector remains a key focus for institutional investors, with new ETFs such as the Hang Seng Technology ETF and the Sci-Tech AI ETF set to launch [8] - The Hang Seng Technology Index tracks 30 Hong Kong-listed tech companies, while the Sci-Tech AI Index focuses on companies involved in AI resources and applications [9][10]

Core Insights - The AI industry is at a pivotal moment, transitioning from large models to multimodal systems, agents, and embodied intelligence, indicating a convergence of technological singularity and commercial explosion [1] Investment Trends - Three key investment areas are currently favored: computing power, agents, and "AI + industry" applications [2] - Ant Group has focused on computing power companies, emphasizing the need to address token consumption and energy support for future personalized agents [2] - Ming Shih Venture has invested in several fast-growing agent companies, highlighting that even the best agents currently score only 30-40 out of 100, suggesting a significant market for those achieving 50-60 [2] - Jingwei Venture is particularly interested in the integration of AI with various industries, including consumer electronics and robotics [2] Smart Agent Landscape - The smart agent sector is divided into general and vertical agents, with the former having higher potential but also greater risks [3] - Ant Group primarily invests in vertical agents, focusing on large market space and strong willingness to pay [3] - Investors are advised to avoid competing directly with large model capabilities to mitigate risks from technological upgrades [3] - A "dumbbell strategy" is suggested, investing in both high-risk general directions and stable To B applications [3] Chinese AI Development - China is leading in AI applications, particularly in the deployment of smart agents, due to its extensive experience in internet and mobile internet sectors [4] - The current generation of entrepreneurs is younger and more technically adept, with a higher barrier to entry compared to previous generations [4] Entrepreneurial Characteristics - Investors favor entrepreneurs with unique insights into technology and strong commercial acumen [5] - The ideal entrepreneur is seen as passionate yet imperfect, capable of creating great products despite potential irrationality [5] - Experience in AI should not exceed three years, as the field has evolved significantly [5] Future Outlook - There is a strong belief that the next generation of super intelligent agents will predominantly emerge from Chinese entrepreneurial teams [6]