央行发布2026年1月金融统计数据报告。1月份，经常项下跨境人民币结算金额为1.49万亿元，其中货物 贸易、服务贸易及其他经常项目分别为1.19万亿元、0.3万亿元；直接投资跨境人民币结算金额为0.78万 亿元，其中对外直接投资、外商直接投资分别为0.27万亿元、0.51万亿元。 （文章来源：第一财经） ...

（文章来源：第一财经） 央行发布2026年1月金融统计数据报告。1月份银行间人民币市场以拆借、现券和回购方式合计成交 211.96万亿元，日均成交10.09万亿元，日均成交同比增长36.1%。其中，同业拆借日均成交同比增长 75.6%，现券日均成交同比增长9.2%，质押式回购日均成交同比增长40.7%。1月份同业拆借加权平均利 率为1.4%，比上月高0.04个百分点，比上年同期低0.46个百分点。质押式回购加权均利率为1.43%，比 上月高0.03个百分点，比上年同期低0.73个百分点。 ...

Core Viewpoint - The recent round of national drug procurement has resulted in 4,163 products from 1,020 companies being shortlisted, covering 316 commonly used drugs across 26 therapeutic areas, with only 21 original drugs winning bids, representing less than 10% of the total [1][2]. Group 1: Procurement Details - The procurement aims to reduce drug prices and patient burdens while reallocating saved healthcare funds to innovative drugs that provide significant clinical value [2]. - The procurement process was led by the medical insurance bureaus of Jiangsu, Henan, and Guangdong provinces, with a high selection rate of 93% among participating companies [2]. - The results of this procurement are expected to be implemented by the end of March 2026, with a procurement cycle lasting until the end of 2028 [2]. Group 2: Original Drug Participation - The original drugs selected include various formulations such as Fosinopril and Acarbose, with companies like Bristol-Myers Squibb and Sanofi involved [3]. - Several original drugs that had previously won bids in earlier rounds, such as Gefitinib and Clopidogrel, did not participate in this round, allowing generic competitors to dominate [4][3]. - The absence of original drugs in the procurement reflects a trend where original drugs face significant competition from generics post-patent expiration, leading to a decline in sales and profits [6]. Group 3: Market Dynamics - The "patent cliff" phenomenon has led to original drugs experiencing substantial sales and profit declines once their patents expire, which was previously mitigated by high prices and market share [6]. - Some original drug companies have reduced or dissolved their sales teams for products affected by procurement policies, yet many still find market opportunities outside public hospital settings [7]. - Cross-national pharmaceutical companies are increasingly focusing on innovative drug development while divesting mature product lines to local firms [8][9]. Group 4: Future Outlook - The Chinese government is implementing policies to support the development of innovative drugs, which is expected to expand the overall pharmaceutical market [10].

2月13日，京东集团发布新春贺信。信中称，今年将在春节9天总投入超13亿元，通过加班费、过大年红 包、子女团聚补贴等形式，为京东的采销、快递、客服、医生、店员、家政和新加入的全职骑手，提供 超国家法定标准的福利补贴和各类保障。 未来五年，还将投入220亿，新建15万套"小哥之家"。未来五年，还将采购300万台机器人、100万台无 人车和10万架无人机，全面投入物流供应链全链路场景。 （文章来源：第一财经） ...

瑞安称，美元和日元"近来无疑失去了部分光环"，而瑞士法郎则"巩固了其作为首选避险货币的地位"。 从去年开始持续到今年，美元、日元和瑞士法郎表现各异，预期不同，如今这三个传统避险货币到底谁才是避险"神话"？ 日本三菱日联银行的货币分析师哈德曼（Lee Hardman）表示，日元和美元的避险吸引力都因政治动荡而"受到削弱"。从长远来看，瑞士法郎被证明是G10 货币中最佳的价值储存币种。 FXTM富拓首席中文市场分析师卢晓旸对第一财经记者表示，2026年伊始，全球外汇市场正处于一个关键转折点。美元在年初虽有短暂回暖，但整体弱势格 局几乎已经确定，是多重因素交织的结果。 他进一步分析道，其次，美联储降息预期调整，去年年底，市场一度预计2026年最高或会降息四次，但随着预期修正为两次，美元在今年年初有所反弹。目 前美元价格已基本消化这一降息步伐预期放缓的变化。CME FedWatch工具显示，6月降息至少25个基点的概率达75%，这将支撑第一、第二季度美元的进一 步走弱。美联储政策转向宽松，结合美国经济增长放缓，进一步削弱美元吸引力。 去美元化加剧 美国总统特朗普2025年加征关税的举动，引发了一场"抛售美国"的浪潮， ...

Core Viewpoint - The company focuses on the research, production, and sales of fiberglass and related products, and is currently not involved in electronic cloth products [1] Group 1 - The company has a main business in fiberglass and its products [1] - The construction of the 300,000-ton second-phase production line will be carried out based on market conditions [1]

Volatility - Today, 6 stocks in the A-share market experienced a volatility exceeding 20% [1] - The stocks with the highest volatility include Vision Smart, Yitian Co., and *ST Yunchuang [1] Turnover Rate - There are 13 stocks in the A-share market with a turnover rate exceeding 30% today [1] - The stocks with the highest turnover rates include Dawi Technology, C Linping, and Rongxin Culture [1] Main Capital Flow - Main capital today saw a net inflow into sectors such as electronics, banking, transportation, automotive, home appliances, steel, and agriculture, while experiencing a net outflow from sectors like power equipment, non-ferrous metals, media, computers, machinery, communications, and biomedicine [1] - The stocks with the largest net inflows include Dongshan Precision (1.948 billion), Deep Technology (1.857 billion), Huasheng Tiancheng (1.644 billion), Sunshine Power (1.429 billion), and C Electric Science (1.427 billion) [1] - The stocks with the largest net outflows include BlueFocus (3.294 billion), Zhongji Xuchuang (2.741 billion), Xiexin Integrated (2.637 billion), New Yi Sheng (2.599 billion), and Xinwei Communication (2.111 billion) [1]

新模型在多项基准测试中创下新纪录。 北京时间2月13日，谷歌发布了Gemini3DeepThink的重大升级，作为专门用于复杂任务的推理模式，DeepThink旨在解决科学、工程领域的诸多挑战。 值得一提的是，去年9月加入谷歌DeepMind的清华物理系知名研究者姚顺宇（ShunyuYao）也是这次DeepThink新模型的核心参与者，他在今天发帖号召大家 体验新模型。 blog.google/innovation-and ... x.com/GoogleDeepMind ... 翻译帖子 Gemini 3 Deep Think ARC-AGI-2 Humanity's Last Exam MMMU-Pro Codeforces Multimodal understanding soning & knowledge Academic reasoning oding and algorithms and reasoning 3455 84.6% 81.0% 79.5% 73.9% 2512 68.8% 2352 52.9% 48.4% 40.0% 31.1% 谷歌CEO桑达尔·皮查伊（SundarPichai） ...

Core Viewpoint - The news highlights the vibrant consumer market in Shanghai during the 2026 Spring Festival, showcasing the role of CITIC Bank in empowering small and micro enterprises and enhancing consumer experiences through various financial services and promotional activities [1][7]. Group 1: Consumer Market and Financial Empowerment - The consumer market in Shanghai is experiencing significant growth, with CITIC Bank launching a series of promotional activities to enhance the festive atmosphere [1]. - CITIC Bank has introduced the "e-Manager" service to address the financial management challenges faced by franchise brands, improving financial efficiency and reducing operational costs for franchisees [3]. Group 2: New Consumption Trends - The brand "Three Number Coconut" has rapidly expanded, opening over 300 stores nationwide since its inception in 2023, with plans to exceed 1,000 stores by 2026 [2]. - The brand is focusing on creating a fashionable lifestyle for consumers, launching new products and limited editions to enhance social interaction through consumption [2][3]. Group 3: Cultural Integration and Events - The 2026 Yuyuan Lantern Festival exemplifies the integration of traditional culture and modern commerce, attracting significant foot traffic and boosting sales in the Yuyuan shopping area [4][5]. - Last year's festival attracted approximately 4 million visitors, leading to a 62% year-on-year increase in transaction volume, with expectations for further growth this year [5]. Group 4: Financial Services and Consumer Engagement - CITIC Bank is actively participating in various consumer engagement initiatives, including discounts and promotional offers during the Spring Festival, aimed at stimulating consumer spending [7][9]. - The bank's collaboration with various sectors, including jewelry, dining, and cultural industries, demonstrates its commitment to providing comprehensive financial support and understanding industry dynamics [5][7].

Market Overview - The A-share market experienced a collective decline on February 13, with the Shanghai Composite Index falling by 1.26% to 4082.07, the Shenzhen Component Index down 1.28% to 14100.19, and the ChiNext Index decreasing by 1.57% to 3275.96 [2][3]. Sector Performance - The military equipment sector showed strong performance, with stocks such as Andavere, Yaxing Anchor Chain, and Aero Engine Corporation of China reaching their daily limit up, while Jianghang Equipment and Jianglong Shipbuilding rose over 8% [3][4]. - Conversely, the photovoltaic equipment sector faced significant declines, with Shuangliang Energy hitting the daily limit down, GCL-Poly Energy falling over 9%, and Maiwei Co. dropping more than 8% [3][5]. Capital Flow - Main capital flows indicated a net inflow into defense, electronics, and computer sectors, while there was a net outflow from communication, power equipment, and non-ferrous metals sectors [7]. - Specific stocks that attracted net inflows included Deep Technology, Huasheng Tiancheng, and Light Media, with inflows of 3.397 billion, 3.255 billion, and 1.502 billion respectively [7]. Institutional Insights - Citic Securities suggested monitoring the performance trends of major U.S. internet companies and potential investment opportunities following narrative reversals [7]. - Huatai Securities projected that domestic iron phosphate companies would see improved profitability as operating rates increase [7]. - China Galaxy Securities noted that tight supply is driving prices up, indicating an upward cycle for the electronic cloth industry [7].