上市公司重新步入正增长轨道
中金公司报告显示，A股资本开支在2025年第四季度转为正增长。 A股上市公司逐渐走出过去三年资本开支下行周期，投资信心整体改善。 上市公司筹资现金流/营业收入是资本开支的领先指标，该指标自2025年初企稳以来，呈现降幅持续收窄的状态，反映企业融资意愿在改善。 高景气的AI产业链和有色金属，以及部分出海行业的资本开支则明显扩张，需求保持旺盛且资本开支加速扩张。
A CICC report shows A-share capital expenditures turned to positive growth in the fourth quarter of 2025.
A-share listed companies are gradually emerging from a three-year downturn in capital spending, and overall investment confidence is improving.
The ratio of listed companies' financing cash flow to operating revenue is a leading indicator for capital spending; since stabilizing in early 2025 this indicator has shown a continued narrowing of declines, reflecting improved corporate willingness to raise funds.
Capital spending is clearly expanding in the highly buoyant AI industry chain, nonferrous metals, and some export-oriented sectors, with demand remaining strong and capex accelerating.
当歌剧遇见中国功夫 新版《图兰朵》讲述中意文化交流
创新的表演形式，让西方的歌剧团队惊喜不已。 舞台上有演唱版的图兰朵与卡拉夫，同时还设立了图兰朵之魂与卡拉夫灵魂的意象角色，让这部歌剧有了极具东方诗意的全新艺术呈现。 剧目指挥恩里克·马佐拉说，中意都拥有着深厚的文化底蕴和相同的艺术灵魂，可以互相借鉴、彼此分享。
The innovative staging delighted the Western opera team.
Onstage, singing versions of Turandot and Calaf appear alongside symbolic figures representing their souls, giving the opera a striking new presentation filled with Eastern poetic sensibility.
The production's conductor, Enrique Mazzola, said that China and Italy both have deep cultural roots and the same artistic spirit, and can learn from and share with each other.
母亲节催热"带妈游"，两代人怎么玩更融洽？
记者调查获悉，在行程安排上侧重"包容性"，更能满足两代人的出行需求。 例如：交通方面，长途选专列、邮轮，短途选包车、自驾，舒适、少折腾； 住宿方面，带早餐的酒店适配不同作息时间； 景点方面，游玩项目丰富的文旅综合体和清静、少走路的休闲景区，更适配家庭出行。
Reporters found that emphasizing "inclusiveness" in itinerary planning better meets the travel needs of two generations.
For example: for transportation, pick special trains or cruises for long trips, and chartered cars or self-driving for short trips—comfortable and less hassle.
For accommodation, hotels that include breakfast work well for different schedules.
For attractions, family trips are better suited to cultural-tourism complexes with lots to do or quiet leisure sites that don't require much walking.
智赢未来・合规致远 -- -- 新华GEO智能体平台发布会在京举行
中国信息通信研究院人工智能所副所长巫彤宁在致辞中表示，合规治理、可信合规已经成为GEO长期发展的必答题。 相关数据预测，AI搜索的使用量很快将超过传统搜索，GEO的应用价值和发展潜力将进一步释放。 但伴随产业快速扩张，虚假内容、关键词堆砌、恶意抹黑等滥用问题频发，亟需品牌方、服务商、平台、大模型等多方主体，协同共建可信合规的GEO生态。
In his remarks, Wu Tongning, deputy director of the AI Institute at the China Academy of Information and Communications Technology, said that compliance governance and trustworthy compliance have become unavoidable tasks for GEO's long-term development.
Related data predicts that AI search usage will soon surpass traditional search, and GEO's application value and development potential will be further unleashed.
But as the industry expands rapidly, abuses such as fake content, keyword stuffing, and malicious smears have become common, creating an urgent need for brands, service providers, platforms, large-model companies, and other stakeholders to work together on a trustworthy, compliant GEO ecosystem.