Japanese stocks exploded! The market value soared 500 billion U.S. dollars in half a year日本股大爆发！市值半年飙升五千亿美元

This week, the Japanese stock market ushered in a milestone. The Topix index took the lead in hitting the highest closing point since August 1990 on Tuesday, and the Nikkei 225 index also hit the highest level since August 1990 on Friday.

Japanese stocks have surged about $518 billion in market value since their Jan. 5 lows. Japanese equity funds attracted $800 million in the week to May 10, the most in seven weeks, while U.S. and European equity funds saw outflows, data from flow monitor EPFR showed.

Wall Street institutions, including Morgan Stanley, JPMorgan Chase and Man GLG, all predict that Japanese stocks are expected to rise further after a 30-year high.

"Japan is by far my favorite global stock market," said Jack Ablin, chief investment officer at Chicago-based investment advisory firm Cresset Capital Management. "In our developed markets strategy, Japanese equities are about 50% weighted."

Decent earnings growth, record share buybacks, still cheap valuations

Ong Securities Japan Inc. and Monex Securities Inc., Japan's third-largest online brokerage, believe Japanese stocks could rise another 10 percent or more this year as earnings growth, share buybacks and still-low valuations attract buyers.

While not spectacular, Topix companies expect their operating profits to rise around 6% in the fiscal year ending March 2024.

"The results look pretty good, with the important auto sector poised for profit growth," said Takashi Hiroki, chief strategist at Monex. income."

TradesMax.com, a US stock investment network, learned that although the Nikkei index is at a nearly 33-year high, it is not expensive given its price-to-book ratio of 1.3 times, while the price-to-book ratio of the S&P 500 index and the European Stoxx600 index are 4x and 1.8x. Cheap valuations are a key reason why CLSA strategist Nicholas Smith predicts at least a further 10 percent gain in Japanese stocks.

At the same time, Japanese companies, which have been sitting on a lot of cash for a long time, have also begun to realize the need to improve shareholder returns in response to the growing demand for improved corporate governance.

Share buybacks in Japanese equities hit a record high in fiscal 2022, and investors expect more to come as the Japanese stock exchange pushes companies to boost their market capitalization. In contrast, share buybacks in the U.S. have slowed.

Loose monetary policy helps

Jeffrey Atherton, head of Japan equities at Man GLG, believes the Japanese market has 10-15% upside potential due to resilient earnings, modest valuations and corporate governance reforms. Man GLG is one of the investment arms of Man Group, the world's largest publicly traded hedge fund.

He added:

“We expect interest rates in Japan to remain very low by global standards, so unlike other regions, monetary policy should favor risk assets.”

Bruce Kirk, chief Japan equity strategist at Goldman Sachs, is also optimistic. A perfect alignment of interests among the government, regulators and exchanges, as well as domestic and foreign investors, could create "Japan's once-in-a-decade policy-driven sustainable bull market," he told Bloomberg on Wednesday.

"Stock god" Buffett's blessing

"Stock God" Buffett previously announced that he would increase his position in Japan, which also contributed to the recent optimism about Japan. Societe Generale and Swiss wealth management company Pictet both increased their holdings of Japanese stocks and reduced their holdings of US stocks.

As overseas funds intend to copy Buffett's strategy and bet on high-dividend yen assets through low-cost yen financing, foreign funds are pouring into the Japanese stock market.

Overseas funds have increased their holdings of Japanese equities further this month after adding 2.2 trillion yen ($15.9 billion) to their holdings in April.

JPMorgan: Japan's economy is undergoing structural changes

According to the analysis, despite the dominance of optimism, the market may still suffer a correction in the short term as technical indicators show that the Japanese stock index is in the overbought area.

Meanwhile, real wages are falling even as inflation rises in Japan, and a slowing global economy poses risks to Japan's export-led economy.

Still, JPMorgan equity strategists including Rie Nishihara wrote in a note on Friday that "Japan's economy's escape from deflation" and "transition to a moderately inflationary economy" is one of Japan's unique structural changes, adding Given that these factors are not temporary, the rebound is likely to be sustainable, he said.

And Japanese stocks are cheap for many investors.

Masayuki Murata, general manager of portfolio balancing at Sumitomo Life Insurance Co., takes a long-term view on investment plans in Japan.

"Given that the price-to-book ratio is still around 1.2 times, even if there is some kind of crisis in the market, it will be a great buying opportunity for long-term investors like us," Murata said.

On May 25, the 4th Agricultural Full-scale Unmanned Operation Test Conference and the launching ceremony of the full-scale unmanned operation test in hilly areas will be held in Fuling District, Chongqing City. This event comes from relevant state departments, industry organizations, and key enterprises About 300 representatives from key universities, scientific research institutions, local governments, large planters and agricultural cooperatives will attend the event.

In this conference, according to my country's first set of "Smart Agricultural Machinery Technology Roadmap" (officially published in July 2022), the nine major technology matrices and roadmap plans for intelligent agricultural machinery will be organized, and the intelligent agricultural machinery smart machine architecture forum and general intelligent agricultural machinery will be organized. There are three technical activities: digital chassis and integrated vehicle forum, intelligent agricultural machinery terminal and facility innovative application practice forum. Nearly 20 test backbone participating units from Yituo, Dongfeng Agricultural Machinery, Dajiang, Fengjiang, Lutan, Sulei, China Agricultural University, Jiangda University, Nanjing Agricultural University, South China Agricultural University, etc., discussed the technical fields and business scope of the above three forums , introducing the latest design concepts, engineering practices, technical achievements and commercial applications, etc. It represents the vane of technological innovation in the field of intelligent agricultural machinery, terminals and facilities in my country, and will provide direct information for industries, scientific research units, users and other fields related to intelligent agricultural machinery. and effective reference.

Appendix: Topics, Units and Reporters of Part of the Forum Reports

1. "Practical Application of Autonomous Driving Orchard Lawn Mower"

Wang Guoye, Director of Vehicle Engineering Research Center, China Agricultural University

2. "Intelligent Technology for Universal Digital Chassis in Hilly and Mountainous Areas"

Chen Song, Director of Smart Agriculture Engineering Department, YTO Technology Center

3. "Application Practice of Electric Drive Powertrain and Intelligent Tractor Based on Efficient Continuously Variable Transmission"

Cheng Yue, General Manager of Changzhou Dongfeng CVT Co., Ltd.

4. "Exploration on the Architecture, Form and Modular Reconstruction of a Universal Chassis for Hilly and Mountainous Areas"

Gao Feng, Professor of Beihang University, Chairman of Beijing Lutan Technology Co., Ltd.

5. "DJI Innovations Smart Agriculture Development and Application Sharing"

Zhen Ma, Director of DJI Smart Agriculture Solutions

6. "Design and Practice of Self-Assembly and Modular Field Work Platform Based on Smart Machine Architecture"

Li Jichuan, Researcher of China Weapons First Research Institute

7. "Practice of Intelligent Agricultural Machinery in the Experiment of Fully Unmanned Rice Operation"

Hu Lian, Professor of South China Agricultural University

8. "Challenges and Opportunities of Agricultural Robotics"

Liu Jizhan, Chief Scientist and Researcher of Jiangsu University National Digital Agricultural Equipment (Artificial Intelligence and Agricultural Robots) Innovation Sub-Center

9. "Research and development of intelligent agricultural machinery equipment for characteristic economic crops in hilly and mountainous areas"

Zhu Xingye, researcher at Jiangsu University

10. "Aggregating Agricultural Big Data and Promoting Intelligentization of Agricultural Machinery"

Chi Hongwei, General Manager of Agricultural Development Department of Beian Branch of Beidahuang Land Reclamation Group

11. "Thoughts on Creation of Agricultural Operation Scenarios and Product Innovation in Hilly and Mountainous Areas"

Ding Xiaobing, director of technology center of Chongqing Xinyuan Agricultural Machinery Co., Ltd., senior engineer

12. "Innovative practice and application of intelligent unmanned plant protection system based on biological information countermeasure technology"

Wan Jia, chairman of Fujian Silei Plant Protection Technology Co., Ltd., part-time professor of Fujian Agriculture and Forestry University

13. "Intelligent Agricultural Machinery - The Power of Science and Technology to Promote Rural Revitalization"

Li Guozheng, Fengjiang Intelligent Technology Co., Ltd., director of intelligent products, engineer

14. "Smart Agricultural Machinery Precise Mechanics Perception and Weight Measurement System"

Rong Yunfeng, Likang Senlong (Danyang) Intelligent Machinery Co., Ltd., CEO

15. "Development Path of Intelligent Machinery for Green Leafy Vegetables"

Wu Yipeng, general manager of Nantong Shengli Electromechanical Technology Co., Ltd., director of Jiangsu Provincial Crop Transfer Mechanization Engineering Research Technology Center

16. "Autonomous Operation of Smart Unmanned Agricultural Machinery"

       Wang Hui, Vice President of Tractor Research Institute, Weichai Lovol Smart Agriculture Technology Co., Ltd.

Create a better future for Jiangsu with high-quality development

——The keynote speech at the 3rd Jiangsu Development Conference

(May 20, 2023)

Xinchangxing

Distinguished sages and distinguished guests,

Ladies and Gentlemen, Friends:

Welcome everyone home! The shortest road in the world is the way home, and it is always so pleasant to walk; the most familiar voice is a strong local accent, which always sounds so kind. I can feel that this kind of strong atmosphere that only comes back home is filling the entire venue at this moment. Of course, I can also understand that after four years, everyone gathered on the banks of the Yangtze River for the Jiangsu Development Conference again, and the excitement and excitement in their hearts was naturally irresistible. Here, on behalf of the Jiangsu Provincial Committee of the Communist Party of China, the Jiangsu Provincial People's Government and the 85 million people of Jiangsu, I would like to extend a warm welcome to all the distinguished guests! I would like to extend my sincere greetings from my hometown to all Jiangsu people at home and abroad!

Dear sages and distinguished guests, Jiangsu carries everyone’s eternal hometown affection, and it is the logical starting point for us to get together. As a "new Jiangsu native", I have only recently opened this "big book" in Jiangsu, and I have just read the beginning, but I am fascinated by it. Every time I have some insights, I will write them down, and more in my heart, and use them in my work. Today, I would like to talk about the three concepts I often think about, namely Jiangsu, Jiangsu people, and Jiangsu development, and report to everyone and teach you.

Regarding Jiangsu, everyone is more qualified than me to speak, so I don't need to introduce the situation here. What I want to talk about is, where does the charm and breath of Jiangsu come from? There are many, many factors. From the perspective of natural elements, the most verve and vividness is water rhyme, which is why the feature film just now is called "Water Rhyme Jiangsu". There are rivers, lakes and seas everywhere, and the blessing of Jiangsu lies in having these four at the same time. There are not only big rivers and rivers, but also big lakes and seas. This is a gift from nature to us. Water has shaped Jiangsu's beautiful mountains and rivers, its soft charm, tenacious character, and the realm of benefiting all things without contending. In fact, the land of Jiangsu is also surrounded by fire. In ancient times, this place was also a world of volcanoes. The ancient volcanoes also brought rich gifts to the earth, making this land soft and fertile. Therefore, Jiangsu, which is located in the climate transition zone between the north and the south, is a land of great fortune. "Fire" and "water" endow this land with a warm climate and rich species. "land of plenty".

Throughout the history of the development of Chinese civilization, Jiangsu has an important position. From the "Taibo to Wu" to the three "clothes to the south", the integration of Central Plains culture, foreign culture and Jiangsu culture time and time again is the catalytic process of Jiangsu's economic development, social change and cultural prosperity. Wealth, knowledge, technology, and talents flow and gather here, precipitate and sublimate, and Wu culture, Jinling culture, Huaiyang culture, and Chu-Han culture complement each other and shine here. The fusion of "South" and "North" has made Jiangsu rich and prosperous for thousands of years, and at the same time shaped and nourished her elegance and grandeur.

On Yushan Mountain in Changshu, not far from the mouth of the Yangtze River, there is a tomb of Yanzi. Confucius had seventy-two sages, and Yanzi was the only southerner among them, so he was honored as "Southern Master". In "Book of Rites · Li Yun", there is a record of the dialogue between Confucius and Yanzi, and the topic is about "well-off" and "great harmony". Since the farming era, "Suhu is ripe, the world is full", "the country is rooted to the southeast", and the germination and rise of national industry and commerce since modern times can be regarded as Jiangsu's trek on the road of this well-off dream. But it was after the reform and opening up that the dream really started to come true, especially since entering the new era. In the early spring of 1983, after Comrade Deng Xiaoping inspected Jiangsu, he took Suzhou as an example to systematically expound the connotation of the goal of a well-off society, and once again ignited the thousand-year dream of a well-off society. Twenty-six years later, in 2009, Comrade Xi Jinping pointed out during his investigation in Jiangsu, "In places like Kunshan, including Suzhou, modernization should be a goal that can be sketched." A dream and reality spanning thousands of years are so miraculously converging here. It is the ideal of Great Harmony that has been deeply rooted in the soul of the Chinese nation for thousands of years, which makes us constantly strive for self-improvement; it is the reform and opening up that started 45 years ago, that makes us dare to be the first; A blueprint that leads us to always be at the forefront. Today's Jiangsu, on the basis of building a moderately prosperous society in an all-round way at a high level, is strenuously embarking on a new journey of modernization.

To sum up, the Jiangsu I understand is tempered by water and fire to form its shape; the fusion of south and north to form its spirit; the melting and casting of ancient and modern to form its gods, all of these have achieved what we are proud of today. Jiangsu. To borrow a popular expression: when we talk about Jiangsu, what are we talking about? I think we are talking about a picture scroll with vivid water, a culture soaked in the fragrance of books, a warm and rich life, a window through which the world sees China, and at the same time, a kind of culture that is too thick to melt open complex.

Next, I want to talk to you about the "Jiangsu people" in my heart. Starting with the Shunshanji culture more than 8,000 years ago, the land of Jiangsu has bred countless romantic figures, from heroes to Confucian officials, from literary masters to art masters, from scientific masters to industrial giants, from revolutionary pioneers To be a model of the times, shining brightly in the starry sky of history and reality.

As an administrative division of Jiangsu, the history of its establishment is only 356 years, that is, the sixth year of Kangxi (1667) before the establishment of Jiangsu and our common nostalgia. Going back further, it is Jiangnan Province. There are too many celebrities in Jiangsu, and it can be said that the stars are shining. Here I would like to cite three of them to talk about the responsibility and feelings of Jiangsu people. The first is Gu Yanwu, an Enlightenment thinker in the late Ming and early Qing dynasties. He is a native of Kunshan. He advocates "learning from literature", "doing oneself with shame", and advocating "learning to govern the world". In particular, he put forward "the rise and fall of the world is the responsibility of everyone", which has become a spiritual force that inspires the continuous rise of the Chinese nation. When General Secretary Xi Jinping inspected Jiangsu in 2014, he asked us to inherit and carry forward the excellent culture, national spirit and traditional virtues of the Chinese nation. Among them, he mentioned Gu Yanwu's saying that "every man is responsible for the rise and fall of the world". The second is the modern industrialist Zhang Jian. He is a native of Nantong. He is deeply influenced by traditional Chinese culture but has a global vision. He pursues "saving the country by industry and saving the country by education". He uses his hometown as a testing ground to start early modernization explorations from various aspects such as industry, education, social welfare, and charity. , making Nantong the "No. 1 city in modern China", and also planting genes for the development of the real economy in Jiangsu. When General Secretary Xi Jinping visited Jiangsu in 2020, he made a special trip to visit Nantong Museum and praised Zhang Jian as a sage and model of Chinese private entrepreneurs. The third is the contemporary scientist Wang Zeshan. He is an academician of the Chinese Academy of Engineering and a professor of Nanjing University of Science and Technology. He is known as the "Chinese Nobel" that brought back the glory of gunpowder. Wang Zeshan has a widely circulated saying called "only do one thing in life", which vividly interprets the spiritual character of scientists. General Secretary Xi Jinping personally awarded him the 2017 National Highest Science and Technology Award. Although these three Jiangsu people live in different eras, they all have a common characteristic, that is, their responsibility and feelings for the country and the nation.

Such responsibility and feelings are reflected in every Jiangsu person. In the battle against the epidemic without gunpowder, overseas Jiangsu people are actively running, donating money and raising materials, and giving strong support to their hometown. Every time there is an anti-epidemic rally, the medical staff in Jiangsu always form an army starry night and rush to the forefront. Many of them are "post-95s" and "post-00s". These most beautiful retrogrades, as well as thousands of grassroots workers and volunteers, are all capitalized Jiangsu people.

Everyone says that Jiangsu people are "a sky full of stars when scattered, and a fire when gathered together". I understand that every Jiangsu person, no matter how far or wherever they go, has a fire of sincerity towards their homeland in their hearts. Today, the Jiangsu Development Conference brings us together not only because of a hometown complex, but also because of this kind of family and country feelings. No matter when, this kind of feeling is the hottest, deepest, most lasting and most precious power.

Jiangsu Development Conference, as the name suggests, the theme is "Jiangsu Development". This is also the question that I most want to discuss with you and listen to your suggestions. I sincerely hope that all guests will express their insights on this in the next forum.

Jiangsu carries the deep concern and ardent expectations of General Secretary Xi Jinping. Entering the new era, General Secretary Xi Jinping personally drew for us a grand blueprint for a new Jiangsu with "a strong economy, rich people, a beautiful environment, and a high level of social civilization"; as we embark on a new journey, we have also given us the "innovation in reform, promotion of high-quality The glorious mission of striving to be a model in development, striving to be a model in serving the country to build a new development pattern, and taking the lead in realizing socialist modernization. At the beginning of this year, General Secretary Xi Jinping participated in the election in Jiangsu and was unanimously elected as a representative of the National People's Congress; on March 5, General Secretary Xi Jinping visited the Jiangsu delegation to participate in the deliberations at the "two sessions" of the country, and delivered an important speech, hoping that Jiangsu will "develop in high quality". Continue to be at the forefront in the future", which is not only a high affirmation of Jiangsu's development in the new era for ten years, but also a higher requirement for Jiangsu's development in the new journey.

Here, I would like to report to you the "transcript" of Jiangsu's development in the new era in the past ten years in comparison with the "strong, rich, beautiful and high" New Jiangsu drawn by General Secretary Xi Jinping. In terms of "economic strength", the province's regional GDP has crossed 7 trillion-level steps in a row, reaching a total of 12.3 trillion yuan. The real economy accounts for more than 80% of the province's total economic output, and the scale of the digital economy exceeds 5 trillion yuan. , the added value of the manufacturing industry accounts for 13.7% of the country and 4% of the world, and the R&D investment intensity of the whole society has reached the middle level of innovative countries. In terms of "people's wealth", the per capita disposable income of residents has doubled to 49,800 yuan. It is one of the provinces with the smallest income gap between urban and rural areas in the country. The standardization of basic public services has achieved more than 90%, and the average annual increase in urban employment has exceeded 90%. 1.4 million people, accounting for more than 1/10 of the country, and the average life expectancy has increased to 79.7 years. In terms of "environmental beauty", the quality of the ecological environment has reached the best level since the monitoring record was established. The ratio of days with good air quality has increased to 82.4%. The water quality of various water bodies has been comprehensively improved. The peach blossom jellyfish reappeared. Now when the weather is good, people can see Pudong World Financial Center and Jinmao Tower from Nantong, and Nanjing Zifeng Tower from Chuzhou. In terms of "high level of social civilization", all 13 cities divided into districts in the province have been built into national civilized cities, and the Jiangsu section of the Grand Canal Cultural Belt has become a national demonstration model. All these achievements constitute the reality of the new Jiangsu that is "strong, rich, beautiful and high".

On such a solid foundation for development, we will take the "four steps ahead" proposed by General Secretary Xi Jinping as the "road map", continue to move forward in a down-to-earth manner, and strive to lead the way in high-quality development. front row. Focusing on "leading the way in self-reliance and self-improvement in science and technology", we will strive to build Jiangsu into an industrial science and technology innovation center with global influence, and always be in the "first phalanx" of the national science and technology innovation pattern; focus on "building a new development pattern Go ahead”, we will strive to build a strong manufacturing province and the intersection of the “Belt and Road”, and build Jiangsu into an advanced manufacturing base with international competitiveness and a two-way open hub with world cohesion; focus on “promoting agricultural modernization "Leading ahead", we will build a strong agricultural province at a high level, and build Jiangsu into a land of fish and rice in the new era with strong agriculture, beautiful countryside, and rich farmers; focusing on "walking ahead in strengthening grassroots governance and people's livelihood security", we will focus on promoting grassroots Modernize the governance system and governance capabilities, and create a high-quality life in the process of promoting common prosperity.

In the minds of all the guests, apart from the large regional concept of Jiangsu, there will be a more specific concept of hometown, and they must also be very concerned about the development of different places. Here, I would like to look forward to the "map" of Jiangsu's future high-quality development in accordance with the geographical context of Jiangsu.

The eight cities of Nanjing, Zhenjiang, Changzhou, Wuxi, Suzhou, Nantong, Taizhou and Yangzhou along the banks of the Yangtze River are responsible for the main engine function of the province's economic development. In recent years, with the continuous densification of the passages across the river and the planning and construction of the north-south high-speed railway along the river, the Yangtze River is no longer a natural moat for development, and even "Nantong" has become a "good one". In particular, through joint efforts to protect the Yangtze River, the problem of "heavy chemical encirclement of the river" has been effectively solved, and valuable development space has been freed up. We are relying on the eight cities along the river to build a world-class Yangtze River urban agglomeration, forming a "golden business card" for Jiangsu's development.

Nantong, Yancheng, and Lianyungang on the coast of the Yellow Sea have a coastline of 954 kilometers, the largest coastal tidal flat in Asia, the largest offshore engineering equipment and offshore wind power cluster in the country, and are the largest potential growth poles in Jiangsu. We are relying on the three coastal cities to build a coastal economic belt, focusing on shaping the coastal characteristics of "a hundred miles of colorfulness", "a hundred miles of ecology" and "a hundred miles of blue bay", and building a "blue plate" for Jiangsu's seaward development.

The Huai'an, Suqian and Lixiahe areas in the Jianghuai Plain are full of rivers and lakes and dense wetlands, which are responsible for demonstrating Jiangsu's ecological value, ecological advantages and ecological competitiveness. We are relying on this area to build the Jianghuai Ecological Economic Zone, focusing on the development of green and low-carbon industries, expanding new industries, new formats and new models, and building a "green heart zone" for sustainable development in Jiangsu.

Xuzhou at the northwestern tip of Jiangsu is not only the geographical and geometric center of the Huaihai Economic Zone, but also the city with the largest economic aggregate, and is responsible for expanding the depth of Jiangsu's development. We are relying on Xuzhou to build the central city of the Huaihai Economic Zone and build a strong fulcrum for Jiangsu's high-quality development.

In the future, the Yangtze River City Group, the Coastal Economic Belt, the Jianghuai Ecological Economic Zone, and the central city of Xuzhou Huaihai Economic Zone, the four major functional areas have their own beauty and share the same beauty, and together support the bright future of Jiangsu's high-quality development and modernization.

As the saying goes, one side's water and soil support the other's people. It is precisely because of the unique water and soil in Jiangsu that there are warm and tenacious Jiangsu people. Whether you are present or not, whether you are from Jiangsu or have worked and struggled in Jiangsu, you are the pride of Jiangsu people. It is precisely because of such Jiangsu people that the ever-growing Jiangsu development is better than ever. Here, we would like to sincerely thank all the guests present here and all Jiangsu people at home and abroad for your contributions in your respective fields. Your achievements are the achievements of your hometown and a very important supporting force for the development of Jiangsu; In the process of promoting Jiangsu to the world, let the world know Jiangsu better, understand Jiangsu, and enter Jiangsu; thank you for your enthusiasm for participating in the construction of hometowns, helping the development of hometowns, and inspiring more Jiangsu people to work hard and build their homes together.

Ladies and gentlemen, distinguished guests, we are living in a great era, and Chinese-style modernization is a great and arduous undertaking. General Secretary Xi Jinping asked us that Jiangsu should take the lead in the new journey and be at the forefront, and encourage the cadres and masses in Jiangsu to connect the spirit of the Jianghuai River and the vastness of the Yellow Sea. Fumeigao is a new chapter in the modernization of New Jiangsu. This is our common responsibility, common mission, common glory and dream, and every Jiangsu person is an indispensable protagonist! The struggle of every Jiangsu person is a moving note of the main theme of the times! Let's work together to build a dream together!

I wish this conference a complete success! I wish the Jiangsu Development Conference better and better and never end!

 本周，日本股市迎来里程碑，东证指数周二率先创下1990年8月以来的最高收盘点位，日经225指数也在周五盘中创出1990年8月以来的最高水平。

自1月5日的低点以来，日本股市的市值已经飙升了约5180亿美元。资金流向监测机构EPFR的数据显示，截至5月10日的一周，日本股票基金吸引了8亿美元的资金，为七周以来的最高水平，而美国和欧洲的股票基金则出现了资金外流。

包括摩根士丹利、摩根大通和Man GLG等华尔街机构都预计，日本股市有望在30年高点后再进一步上涨。

总部位于芝加哥的投资咨询公司Cresset Capital Management的首席投资官Jack Ablin表示：“日本是目前我最喜欢的全球股市。在我们的发达市场策略中，日本股票的权重约为50%。”

不错的盈利增长、创新高的股票回购、仍然较低的估值

里昂证券日本公司以及日本第三大在线经纪商Monex证券公司认为，因盈利增长、股票回购和仍然较低的估值吸引买家，日本股市今年还能再涨10%或更多。

虽然算不上惊人，但东证指数成分股公司预计，在截至2024年3月的财年，该指数成份股公司的营业利润将增长6%左右。

Monex的首席策略师Takashi Hiroki表示：“业绩看起来相当不错，重要的汽车行业有望实现利润增长。”“以内需为导向的企业正受益于入境游增长的前景，而大型银行也获得了丰厚的收益。”

美股投资网 TradesMax.com 获悉，尽管日经指数处于近33年高点，但鉴于其1.3倍的市净率，还算不上贵，而标普500指数和欧洲Stoxx600指数的市净率分别为4倍和1.8倍。低廉的估值是里昂证券策略师Nicholas Smith预测日股至少还会进一步上涨10%的关键原因。

与此同时，长期坐拥大量现金的日本企业，也开始认识到提高股东回报的必要性，以应对日益增长的改善公司治理的需求。

日本股市的股票回购在2022财年创下历史新高，随着日本证券交易所推动企业提升市值，投资者预计还会有更多股票回购。相比之下，美国的股票回购已经放缓。

宽松货币政策助力

Man GLG的日本股票主管Jeffrey Atherton认为，由于业绩有弹性、估值适中以及企业公司治理改革，日本市场还有10-15%的上涨潜力。Man GLG是全球最大的公开交易对冲基金Man Group的投资部门之一。

他补充称：

“我们预计，以全球标准衡量，日本利率将保持在非常低的水平，因此与其他地区不同，货币政策应该对风险资产有利。”

高盛首席日本股票策略师Bruce Kirk也持乐观态度。他在周三接受彭博采访时表示，政府、监管机构和交易所以及国内外投资者之间的利益的完美协调，可能会创造出“日本十年一遇的政策驱动型可持续牛市”。

“股神”巴菲特的加持

“股神”巴菲特此前宣布加仓日本，也助长了近期对日本的乐观情绪。法国兴业银行和瑞士财富管理公司Pictet都增持了日本股票，减持了美国股票。

伴随着海外资金有意复制巴菲特的策略，通过低成本日元融资押注高股息日元资产，外国资金正在涌入日本股市。

在4月份增持2.2万亿日元(159亿美元)的日本股票后，海外基金本月进一步增加了对日本股票的持有。

摩根大通：日本经济正在发生结构性变化

分析称，尽管乐观情绪占主导地位，但由于技术指标显示日本股指处于超买区域，市场短期内仍可能遭遇回调。

同时，尽管日本通胀上升，但实际工资也在下降，全球经济放缓也给日本的出口导向型经济带来风险。

不过，包括Rie Nishihara在内的摩根大通股票策略师在周五的一份报告中写道，“日本经济摆脱通缩”和“向适度通胀经济过渡”是日本独特的结构性变化之一，并补充说，鉴于这些因素不是暂时的，这种反弹可能是可持续的。

并且对许多投资者来说，日本股市的估值很低。

日本住友人寿保险公司负责平衡投资组合的总经理Masayuki Murata在日本的投资计划上持长远观点。

Murata表示：“鉴于市净率仍在1.2倍左右，即使市场出现某种危机，对我们这样的长期投资者来说，这将是一个巨大的买入机会。”

5月25日，第四届农业全程无人化作业试验大会、丘陵地区全程无人化作业试验启动仪式将在重庆市涪陵区隆重举行，本次活动，来自国家有关部门、行业组织、重点企业、骨干高校和科研机构、地方政府、种植大户和农机农事合作社代表约300人将出席活动。

本次大会，将按照我国首套《智能农机技术路线图》（2022年7月正式出版发行）中关于智能农机九大技术矩阵和路线图规划，组织智能农机灵巧整机架构论坛、智能农机通用数字底盘和一体化载具论坛、智能农机终端和设施创新应用实践论坛三个技术活动。来自一拖、东风农机、大疆、丰疆、履坦、司雷、中国农大、江大、南京农大、华南农大等近20家试验骨干参试单位，就上述三个论坛技术领域和业务范围，介绍最新的设计理念、工程实践、技术成果和商业化应用等方面的内容，代表着我国智能农机、终端和设施领域技术创新风向标，将为产业、科研单位、用户等智能农机相关领域提供直接和有效的借鉴。

附录：论坛部分报告题目、单位和报告人

1.《自动驾驶果园割草机的实践应用》

王国业，中国农业大学车辆工程研究中心主任

2.《丘陵山区通用数字底盘智能化技术》

陈松，中国一拖技术中心智慧农业工程部主任

3.《基于高效无级变速器的电驱动力总成和智能拖拉机应用实践》

程越，常州东风无级变速器有限公司总经理

4.《针对丘陵山地通用底盘的架构、形态及一机化模块重构的探索》

高峰，北京航空航天大学教授、北京履坦科技有限公司董事长

5.《大疆创新智慧农业发展与应用分享》

马桢，大疆智慧农业解决方案总监

6.《基于灵巧整机架构的自组合、模块化野外作业平台设计和实践》

李冀川，中国兵器第一研究院研究员

7.《智能农机在水稻全程无人化作业试验中的实践》

胡炼，华南农业大学教授

8.《农业机器人技术的挑战与机遇》

刘继展，江苏大学国家数字农业装备（人工智能和农业机器人）创新分中心首席科学家、研究员

9.《丘陵山区特色经济作物智能农机装备研发》

朱兴业，江苏大学研究员

10.《汇聚农业大数据、推进农机智能化》

迟宏伟，北大荒农垦集团北安分公司农业发展部总经理

11.《丘陵山地农业作业场景打造与产品创新思考》

丁小兵，重庆鑫源农机股份有限公司技术中心主任，高级工程师

12.《基于生物信息对抗技术的智能无人化植保系统创新实践与应用》

万佳，福建司雷植保技术有限公司董事长、福建农林大学兼职教授

13、《智能农机-推动乡村振兴的科技力量》

李国政，丰疆智能科技股份有限公司，智能化产品总监，工程师

14、《智能农机精准力学感知和测重系统》

戎云锋，利康森隆（丹阳）智能机械有限公司，首席执行官

15、《绿叶蔬菜机械智能化发展路径》

吴亦鹏，南通省力机电科技有限责任公司总经理，江苏省作物移载机械化工程研究技术中心主任

16、《智慧无人农机自主作业》

      王辉，潍柴雷沃智慧农业科技股份有限公司，拖拉机研究院副院长

以高质量发展共创江苏美好未来

——在第三届江苏发展大会上的主旨演讲

（2023年5月20日）

信长星

尊敬的各位乡贤、各位嘉宾，

女士们、先生们、朋友们：

欢迎大家回家！世界上最短的路是回家的路，走起来总是那么愉悦；最熟悉的声音是浓浓的乡音，听起来总是那么亲切。我能感受到，这种回到家里才有的浓浓气息，此时此刻正充盈在整个会场。我当然也能理解，暌违四年，大家再次因江苏发展大会欢聚在扬子江畔，心中的那份激动与兴奋自然难以抑制。在这里，我谨代表中共江苏省委、江苏省人民政府和8500万江苏人民，向各位嘉宾表示热烈的欢迎！向所有海内外的江苏人致以家乡的诚挚问候！

各位乡贤、各位嘉宾，江苏承载着大家永远的桑梓深情，是我们相聚在一起的逻辑起点。作为一名“新江苏人”，江苏这部“大书”我才翻开不久，刚读了个开头，但读得很是着迷。每每有些许感悟，我会随手记下，更多是记在心里，用之于工作。今天，我想围绕我常常思考的三个概念，即江苏、江苏人、江苏发展谈点粗浅感悟，汇报给大家，就教于大家。

一

关于江苏，大家都比我更有资格说话，所以我不需要在这里介绍省情。我想谈的是，江苏的韵味、江苏的气息来自哪里？因素有很多很多，从自然要素讲，其中最具神韵、最为灵动的是水韵，这就是为什么刚才这部专题片叫作《水韵江苏》。江河湖海哪里都有，江苏的福分在于同时拥有这四者，既有大江、大河，又有大湖、大海，这是大自然对我们的馈赠。水塑造了江苏灵秀的山川、柔美的气韵、坚韧的品性，还有那利万物而不争的境界。其实江苏这片大地，也同样包着一团火。远古时期，这里也曾是火山的世界，远古的火山同样也给大地带来丰厚的馈赠，让这片土地变得松软肥沃。所以，处于南北气候过渡带的江苏是一片得天地造化的土地，“火”与“水”赋予了这片土地温润的气候和丰饶的物种，经由历代先民辛勤劳作，开垦出令人向往的“鱼米之乡”。

纵览中华文明发展史，江苏有着重要的地位。从“泰伯奔吴”，到三次“衣冠南渡”，中原文化、异域文化与江苏文化的一次又一次融合，都是江苏经济发展、社会变迁和文化繁荣的催化过程。财富、知识、技术、人才在这里流动汇聚、沉淀升华，吴文化、金陵文化、淮扬文化、楚汉文化在这里交相辉映、竞放异彩。“南”与“北”的交融，让江苏的富庶与繁华历经千年而不衰，同时也塑造滋养了她的博雅与厚重。

在离长江入海口不远的常熟虞山上，有座言子墓。孔子有七十二贤，言子是其中唯一的南方人，因此被尊称为“南方夫子”。《礼记·礼运》中就有孔子与言子对话的记载，话题则是关于“小康”和“大同”。农耕时代以来的“苏湖熟，天下足”“国家根本，仰给东南”、近代以来民族工商业的萌芽和崛起，都可视作江苏在这条小康梦想之路上的跋涉。而真正开始圆梦则是在改革开放以后，特别是进入新时代以来。1983年早春，邓小平同志视察江苏后，以苏州为例证，系统阐述了小康目标内涵，再次点燃了小康这个千年梦想。26年后的2009年，习近平同志在江苏调研时指出，“像昆山这样的地方，包括苏州，现代化应该是一个可以去勾画的目标”。一个跨越几千年的梦想与现实，竟如此神奇地在这里交汇。正是几千年来深深植根于中华民族灵魂深处的大同理想，让我们自强不息；正是始于45年前的改革开放，让我们敢为人先；正是新时代“强富美高”蓝图，引领我们始终走在前列。今天的江苏，在高水平全面建成小康社会的基础上，正意气风发奋进现代化建设新征程。

归纳起来，我理解的江苏，水与火的淬炼，成其形；南与北的交融，成其气；古与今的熔铸，成其神，所有这些，成就了我们今天为之自豪的江苏。借用一个时下流行的表达方式：当我们在谈论江苏时，我们在谈论什么？我想，我们是在谈论一幅水韵灵动的画卷，谈论一种书香浸润的文化，谈论一种温暖富足的生活，谈论一扇世界看中国的窗口，同时也是在谈论一种浓得化不开的情结。

二

接下来，我想和大家谈谈我心中的“江苏人”。以8000多年前的顺山集文化为肇始，江苏这片土地孕育出数不尽的风流人物，从英雄豪杰到儒学名臣，从文学大家到艺术大师，从科学巨匠到实业巨子，从革命先驱到时代楷模，在历史与现实的星空中熠熠生辉。

作为行政区划意义上的江苏，建省史只有356年，也就是康熙六年即1667年才有了江苏、有了我们共同的乡愁。再往前追溯，则是江南省。江苏的名人太多太多，可谓群星闪耀，这里我想举其中三个人说一说江苏人的担当与情怀。第一个是明末清初的启蒙思想家顾炎武。他是昆山人，主张“博学于文”“行己有耻”，提倡“学以经世”，特别是他提出的“天下兴亡，匹夫有责”，成为激励中华民族不断奋起的精神力量。习近平总书记在2014年视察江苏时，要求我们继承和弘扬中华民族优秀文化、民族精神和传统美德，其中就提到顾炎武的“天下兴亡，匹夫有责”。第二个是近代的实业家张謇。他是南通人，深受中华传统文化熏陶却又具有世界眼光，奉行“实业救国、教育救国”，以家乡为试验场，从实业、教育、社会公益、慈善事业等诸多方面，开启早期现代化探索，使南通成为“中国近代第一城”，也为江苏厚植了发展实体经济的基因。2020年习近平总书记到江苏考察时，专程前往南通博物苑参观，称赞张謇是中国民营企业家的先贤和楷模。第三个是当代的科学家王泽山。他是中国工程院院士、南京理工大学教授，被誉为让火药重焕荣光的“中国诺贝尔”。王泽山有一句广为流传的话，叫作“一辈子只做一件事”，生动诠释了科学家的精神品格。习近平总书记亲自为他颁发了2017年度国家最高科学技术奖。这三个江苏人，虽然身处不同时代，但都有着一种共同的特质，就是对国家、对民族舍我其谁的担当和情怀。

这样的担当和情怀，在每一个江苏人身上都有体现。在抗击疫情这场没有硝烟的战斗中，海外的江苏人积极奔走、捐款筹物，给予家乡有力支持。每一次抗疫集结，江苏的医护人员总是星夜成军、冲在最前，很多还是“95后”“00后”。这些最美逆行者，以及千千万万的基层工作者、志愿者，都是大写的江苏人。

大家都说，江苏人“散是满天星，聚是一团火”。我理解，每一个江苏人，不管走多远、在哪里，心中都有一团对家国的赤诚之火。今天，江苏发展大会把我们聚在一起，既是因为一种家乡情结，更是源于这种家国情怀。无论什么时候，这种情怀都是最炽热、最深沉、最持久、最珍贵的力量。

三

江苏发展大会，顾名思义，主题就是“江苏发展”。这也是我最想和大家探讨、最希望听取大家建议的问题，衷心希望各位嘉宾在接下来的论坛上就此发表真知灼见。

江苏承载着习近平总书记的深切关怀、殷切期望。进入新时代，习近平总书记亲自为我们擘画了“经济强、百姓富、环境美、社会文明程度高”的新江苏宏伟蓝图；迈进新征程，又赋予了我们“在改革创新、推动高质量发展上争当表率，在服务全国构建新发展格局上争做示范，在率先实现社会主义现代化上走在前列”的光荣使命。今年初，习近平总书记在江苏参选并全票当选为全国人大代表；3月5日，习近平总书记在全国“两会”上亲临江苏代表团参加审议，发表重要讲话，希望江苏“在高质量发展上继续走在前列”，这既是对新时代十年江苏发展的高度肯定，也是对新征程上江苏发展的更高要求。

这里，我想对照习近平总书记擘画的“强富美高”新江苏，向大家报告一下新时代十年的江苏发展“成绩单”。在“经济强”上，全省地区生产总值连跨7个万亿级台阶，总量达到12.3万亿元，实体经济占全省经济总量80%以上，数字经济规模超5万亿元，制造业增加值占到全国13.7%、全球4%，全社会研发投入强度达到创新型国家中等水平。在“百姓富”上，居民人均可支配收入翻了一番、达到4.98万元，是全国城乡收入差距最小的省份之一，基本公共服务标准化实现度超过90%，城镇新增就业年均超过140万人、占全国1/10以上，人均预期寿命提高到79.7岁。在“环境美”上，生态环境质量创有监测记录以来最好水平，空气质量优良天数比率提升至82.4%，各类水体的水质全面改善，长江上江豚嬉戏、黄海边鹬鹤齐飞、太湖里桃花水母再现身影。现在天气好的时候，人们从南通可以望得见浦东的环球金融中心、金茂大厦，从滁州可以望得见南京的紫峰大厦。在“社会文明程度高”上，全省13个设区市全部建成全国文明城市，大运河文化带江苏段成为全国示范样板，文艺创作精品力作纷呈、大师名家辈出，公民文明素养显著提升。所有这些成就，构成了“强富美高”新江苏现实模样。

在这样一个厚实的发展基础上，我们将以习近平总书记提出的“四个走在前”为“路线图”，扎扎实实、踏踏实实继续向前走，努力在高质量发展上走在前列。聚焦“在科技自立自强上走在前”，我们将致力把江苏建成具有全球影响力的产业科技创新中心，始终处在国家科技创新格局的“第一方阵”；聚焦“在构建新发展格局上走在前”，我们将致力建设制造强省和“一带一路”交汇点，把江苏建成具有国际竞争力的先进制造业基地、具有世界聚合力的双向开放枢纽；聚焦“在推进农业现代化上走在前”，我们将高水平建设农业强省，把江苏建成农业强、农村美、农民富的新时代鱼米之乡；聚焦“在强化基层治理和民生保障上走在前”，我们将着力推进基层治理体系和治理能力现代化，在推进共同富裕进程中打造高品质生活。

在各位嘉宾心中，除了江苏这个大的区域概念，都会有一个更具体的家乡概念，也一定十分关心不同地方的发展。这里，我想再依照江苏的地理脉络，同大家展望一下江苏未来高质量发展的“版图”。

沿着长江两岸的南京、镇江、常州、无锡、苏州、南通、泰州、扬州八市，承担着全省经济发展主引擎功能。这些年，随着过江通道的持续加密、南北沿江高铁的规划建设，长江不再是发展的天堑，就连“南通”也变成了“好通”。特别是通过共抓长江大保护，有力破解了“重化围江”问题，腾出了宝贵的发展空间。我们正在依托沿江八市打造世界级扬子江城市群，形成江苏发展的“金色名片”。

黄海之滨的南通、盐城、连云港，拥有954公里海岸线、亚洲最大海岸滩涂、全国最大的海工装备和海上风电集群，是江苏最大的潜在增长极。我们正在依托沿海三市打造沿海经济带，着力塑造“缤纷百里”“生态百里”“蓝湾百里”滨海特色风貌，构筑江苏向海发展的“蓝色板块”。

江淮平原的淮安、宿迁和里下河地区，河湖纵横，湿地密布，承担着展现江苏生态价值、生态优势和生态竞争力的功能。我们正在依托这一区域打造江淮生态经济区，重点发展绿色低碳产业，壮大新产业新业态新模式，构建江苏永续发展的“绿心地带”。

江苏西北端的徐州，既是淮海经济区的地理几何中心，又是其中经济总量最大的城市，承担着拓展江苏发展纵深的功能。我们正在依托徐州建设淮海经济区中心城市，打造江苏高质量发展的强劲支点。

将来，扬子江城市群、沿海经济带、江淮生态经济区、徐州淮海经济区中心城市，四大功能区各美其美、美美与共，共同支撑起江苏高质量发展和现代化建设的美好未来。

俗话讲，一方水土养一方人，正是因为有江苏这一方得天独厚的水土，才有了温润而又坚韧的江苏人。不管今天在场还是不在场的，不管是籍贯江苏还是在江苏工作过、奋斗过的，你们都是江苏人的骄傲。也正是因为有这样的江苏人，才有了生生不息、今更胜昔的江苏发展。这里，我们要向在座的各位嘉宾和海内外所有江苏人真诚地道一声谢谢，感谢你们在各自领域作出的贡献，你们的成就就是家乡的成就，是江苏发展非常重要的支撑力量；感谢你们在走向世界的过程中宣传江苏、推介江苏，让世界更好地认识江苏、了解江苏、走进江苏；感谢你们热忱参与家乡建设、助力家乡发展，激励了更多的江苏人努力奋斗、共建家园。

各位乡贤、各位嘉宾，我们所处的时代是一个伟大的时代，中国式现代化是一项伟大而艰巨的事业。习近平总书记要求我们，新征程上江苏要勇挑大梁、走在前列，勉励江苏广大干部群众汇通江淮之气概、畅达黄海之辽阔，以当表率、做示范、走在前的果敢担当，谱写“强富美高”新江苏现代化建设新篇章。这是我们共同的责任、共同的使命、共同的光荣与梦想，每一个江苏人都是不可或缺的主角！每一个江苏人的奋斗都是时代主旋律的动人音符！我们要共同努力、共筑梦想！

预祝本次大会圆满成功！祝愿江苏发展大会越办越好、永不落幕！