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上海自贸区临港新片区 “十五五” 规划出炉：GDP 年均增长目标 7.5%,上海自贸区临港新片区 “十五五” 规划出炉：GDP 年均增长目标 7.5%_我的网站
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The yen has weakened in recent days, edging closer to the psychologically important 160 level against the US dollar. The decline comes despite the widely watched move by Washington to join Tokyo in supporting the currency. Less than two weeks after the US-Japan intervention, the yen has given up roughly half of its gains, raising fresh questions over the effectiveness of coordinated efforts to stabilize the exchange rate.
Japan and the US had previously confirmed coordinated foreign exchange intervention to prop up the yen after the currency tumbled to a nearly 40-year low. At the time, some observers saw the move as potentially stabilizing the yen in the short term, although its longer-term impact remained uncertain.
However, the subsequent market reaction suggests that even the short-term effect may have been limited. After strengthening to about 155 per dollar in the days following the intervention from above 163, the yen had slipped back above 159 by Wednesday, less than two weeks later.
Questions have emerged over whether further support for the yen may soon be needed, and whether Washington would consider stepping in again. The previous intervention was seen by some observers as a test of market confidence: the unusual coordinated move had the potential to influence market expectations and discourage bets against the yen. But if market expectations remain largely unchanged, repeated interventions could deliver diminishing returns. The US may face a difficult trade-off. Another intervention could require greater resources and come at a higher cost, while refraining from further action could raise questions over the lasting impact of the previous effort.
Market commentary has added to the uncertainty. Axios published a report headlined "Yen's weakness shows market isn't done pushing," while some reports suggested that the impact of the US-Japan intervention was beginning to fade. Such narratives could weigh on sentiment toward the yen and reinforce market expectations that the currency's weakness may persist.
Washington's involvement in supporting the yen may reflect broader economic and policy considerations. These could include avoiding a scenario in which Japan sells US Treasury holdings to support the currency, as well as concerns that a weaker yen could give Japanese exporters a greater competitive advantage. These possible considerations suggest that the intervention alone does not fully address the underlying forces behind the yen's weakness. This may help explain why the market has so far been reluctant to view the move as a turning point for the currency.
Washington's decision to join the intervention may have reflected concerns, as some observers suggest, that the yen's prolonged weakness had begun to affect US interests. If markets remain unconvinced by the US-Japan intervention, one possible outcome is that Washington could push Japan to take more costly measures to support the yen. Such a scenario could instead create some strain between Washington and Tokyo.
Beyond short-term market dynamics, the yen's weakness also reflects deeper challenges facing the Japanese economy, making a sustained reversal difficult. The currency's prolonged weakness has been influenced by the interest rate gap between Japan and the US, while also reflecting longer-term concerns over the diminishing returns of Japan's traditional growth model.
This leaves Japan facing a delicate policy balance between supporting growth and stabilizing the currency. While lower interest rates could help boost economic activity, continued weakness in the yen may strengthen calls for Japan's central bank to consider further rate increases to narrow the interest rate gap with the US.
Japan's structural challenges mean that a sustained appreciation of the yen will not be easy to achieve. The question of whether to pursue stronger measures, even at the cost of some economic growth, has become more complicated as the US takes a role in the issue. Japan may face greater pressure to support the currency, even though doing so would be difficult and could carry broader economic costs.
The author is a reporter with the Global Times. [email protected]
。 上海8月21日电 (记者 李姝徵)上海市政府21日举行“开局起步‘十五五’”系列主题市政府新闻发布会，介绍《中国(上海)自由贸易试验区临港新片区发展“十五五”规划》(以下简称《规划》)等有关内容。 中国(上海)自由贸易试验区临港新片区(以下简称临港新片区)管理委员会专职副主任唐浩介绍，过去五年，临港新片区GDP年均增长18.6%，区规上工业总产值突破4500亿元、年均增长27.7%，工业固定资产投资连续四年占全市约五分之一，发挥了全市经济增长极作用。
B | “十五五”是临港新片区实现转段跃升、特色成势的关键期。唐浩表示，临港新片区将以“五个重要”为统领，突出“两区一城”发展定位，即加快建设国家高水平开放压力测试的先行示范区、全市“五个中心”建设的重要功能区以及海内外创新创业人才集聚的临港科创城。“十五五”期间，全国首创性制度创新案例新增达70项，全社会研发经费占GDP比重保持在6%以上，实现GDP年均增长7.5%。 《规划》安排了六项任务。第一，深化更高水平对外开放。将围绕跨境数据、离岸和跨境金融、高能级航运、保税新业态等领域深化制度创新。“十五五”末，实现保税维修进出口额1000亿元，离岸转手买卖交易额500亿美元。率先开展离岸金融先行先试，推动数据跨境的负面清单和操作指引迭代扩容，建设全球航运枢纽，打造国际航运绿色能源加注中心。
C | 第二，塑造前沿产业集群新优势。将聚焦“4+1”前沿产业，持续完善产业生态，形成链主企业带动、产业链上下游中小企业协同发展、高增长企业不断涌现的良性格局。
D | “十五五”末，预计形成3个千亿级制造业集群，到2030年，实现规模以上工业总产值突破6500亿元。集成电路将以晶圆制造、高端封测为核心，带动设计、设备、材料全链布局，产值突破1200亿元；智能汽车将着重智能化突破，产值超3000亿元；高端装备聚焦新型储能及能源装备，产值突破1000亿元。围绕大飞机总装配套的结构大部段、复合材料、机载设备、发动机等关键领域，推动民用航空产值突破500亿元。 第三，打造“临港科创城”创新创业引力场。将加快临港实验室等高能级研发平台建成投用，持续导入与临港主导产业相匹配的公共科研机构、服务平台，完善概念验证和中试能力，提升商业验证功能，让技术不仅“做得出”，还要“用得上、推得开”。大力支持超级个体OPC发展。 第四，构建开放型现代服务业新体系。
E | 将提升工业服务对制造升级的全面赋能，加大AI+工业服务、工业机器人应用。深化国际数据经济产业园建设，建设大模型出海预训练基地，发展“来数加工”“数字出海”“词元出海”等新业态。提高金融服务实体经济的质效水平，集聚多元金融贸易主体做强滴水湖金融湾品牌。 第五，打造洋山特殊综合保税区开放新标杆。将深化数字综保区2.0版建设，实现数据互联互通、提升通关效率和服务质效。
F | 做大做强保税新业态，打造汽车、航空发动机等保税维修产业高地。 第六，全面建设“年轻的城、年轻人的城”。将加快南汇新城综合性节点城市建设，推进交通、教育、医疗、城市安全等建设，完善青年创新创业和安居保障，塑造近悦远来的友好人文环境。
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