随着农历新年临近，各类投资理财活动日益活跃，然而伴随而来的，还有非法金融App诈骗案件的高 发。近日，上海市嘉定区发生的一起案件引发关注，当事人季女士在骗子客服反复劝导下，差点按 照"正规证券App"指示，提取50万元现金进行所谓"线下交易"。 此类案件揭示了当前非法金融App的新型套路：先通过仿冒知名券商或银行App制造虚假盈利，诱导投 资者持续充值，再以"账户冻结""对冲认证"等理由要求线下交付现金或实物，形成"线上诈骗、线下送 钱"的模式。 各地监管部门近期纷纷发布风险提示，警示公众警惕非法金融App。业内人士提醒，投资应通过正规渠 道，资金应进入对公账户，凡涉及私人账户或线下交付的行为，几乎可判定为诈骗。 据央视新闻报道，这起发生在上海市嘉定区的案件，揭开了当前非法金融App诈骗的最新模式：在完成 一整套线上"洗脑"与资金诱导流程后，诈骗分子不再满足于线上转账，而是直接要求受害人线下取现或 购买黄金交付，形成所谓的"线上诈骗、线下送钱"的新型模式。 据上海市公安局嘉定分局刑侦支队民警介绍，此类案件往往以仿冒正规券商、银行App为起点。诈骗分 子通过社交平台、短视频、短信链接等渠道引流，诱导受害者下载无 ...

Group 1 - The core point of the article is the launch of new models of BYD's Qin series, specifically the 2026 Qin L DM-i and Qin PLUS DM-i, with competitive pricing and features [1] - The starting price for the 2026 Qin L DM-i is set at 116,800 yuan, with an electric range of 210 kilometers, which is a decrease from the 2025 model's starting price of 119,800 yuan for a 120-kilometer range [1] - The 2026 Qin L DM-i offers a limited-time purchase tax exemption for new energy vehicles, bringing the effective starting price down to 92,800 yuan after subsidies [1]

Core Insights - The commercial insurance innovative drug directory has been officially implemented since January 1, with the inclusion of drugs like Daratumumab β injection, but outpatient incentives for these drugs remain in a policy vacuum [1][2] - The "three exclusions" policy is seen as a significant but challenging measure to facilitate the entry of commercial insurance innovative drugs into hospitals [1][3] - There is a lack of clarity regarding the implementation details for the entry of commercial insurance innovative drugs into hospitals, which limits the ability of medical institutions to stock a wider variety of these drugs [4][5] Group 1 - The first version of the commercial insurance innovative drug directory was launched on January 1, and it includes specific drugs that can be reimbursed separately from the bundled payment system [1] - As of January 8, at least 28 provinces have mandated local medical institutions to hold pharmacy meetings by the end of February to discuss the integration of commercial insurance innovative drugs [2] - The "three exclusions" policy aims to allow innovative drugs to be used in hospitals without affecting the bundled payment system, but its practical implementation remains uncertain [3][7] Group 2 - The entry of commercial insurance innovative drugs into hospitals can either be through inclusion in special drug directories or by facilitating their hospital entry pathways [3] - Recent data shows that from January 1 to 6, over 15 medical institutions recorded sales of commercial insurance innovative drugs, although most of these were pre-configured before the directory's release [3][4] - The sales of commercial insurance innovative drugs are highly concentrated in a few products, particularly those used for Alzheimer's treatment [3] Group 3 - There are currently no specific assessment indicators for the hospital configuration of commercial insurance innovative drugs, unlike the established metrics for national negotiated drugs [4] - Some provinces have clarified that the use of national negotiated drugs will not be included in certain performance assessment metrics for public medical institutions, but it is unclear if this applies to commercial insurance innovative drugs [5] - The transition from hospital entry to patient medication involves prescription and payment processes, which currently face significant bottlenecks, especially in outpatient settings [6] Group 4 - The "three exclusions" policy is expected to be crucial for expanding the hospital sales of commercial insurance innovative drugs, but balancing interests among stakeholders is necessary for effective implementation [7] - A common approach to support the use of innovative drugs in hospitals is to open a "special case negotiation" green channel, but the limited application quota raises concerns about accessibility for commercial insurance innovative drugs [8] - The implementation of "exclusion payment" mechanisms is seen as a more definitive incentive for hospitals to use innovative drugs, but current policies primarily favor national negotiated drugs [9] Group 5 - The commercial insurance innovative drug directory's initial week saw sales primarily occurring in medical institutions, but the market potential remains limited due to the nature of the drugs included [11] - There is a push for retail pharmacies to stock commercial insurance innovative drugs, but concerns about prescription practices and reimbursement processes persist [12] - Future efforts should focus on aligning the commercial insurance innovative drug directory with the national insurance system to enhance confidence in the use of these drugs in hospitals [12]

在数字技术迭代升级、产品模式持续创新与消费需求深刻变革等多重驱动下，数字消费对整体消费增长的贡献持续攀升。 中国信息通信研究院近日发布的《数字消费蓝皮书（2025年）》（下称"蓝皮书"）显示，一方面，实物商品网上零售额占社会 消费品零售总额的比重，从10年前的10.8%，上升至2024年的26.8%；另一方面，数字消费群体正突破年龄、性别、地域等边 界，"Z世代"（指1995年至2009年出生的一代人）、银发族（60岁及以上）等数字消费新势力不断涌现。 早期数字技术的赋能以"电子化"为代表，主要体现在将线下交易迁移至线上完成，如电子商务和在线支付等。蓝皮书分析数字 消费新变化时称，现阶段已逐步演化出线上线下融合、虚拟与现实交融等多种新形态，如"在线下单，到店服务""线下体验，线 上交易""AR试穿试戴"以及"沉浸式互动"等模式。 2025年7~8月，中国信通院围绕数字消费对象和方式、"人工智能+消费"等专题开展网络调查，采集有效样本超2.5万份。该调查 显示，74%的受访者使用过3类以上的融合业态数字服务，仅3.2%受访者表示未使用过线上融合服务。例如，74.6%的受访者使 用过数字教育；59.9%受访者使用 ...

Core Viewpoint - The express delivery industry is transitioning towards high-quality development, focusing on compliance and rational competition while maintaining high growth rates in 2026 [1][2]. Group 1: Industry Growth and Trends - The 2026 National Postal Work Conference indicates that the express delivery industry will continue to grow, with an expected business volume of 2.14 billion packages, representing an approximate 8% year-on-year increase [3]. - In 2025, the national express business revenue reached 1.5 trillion yuan, with a year-on-year growth of 6.5%, while the business volume was 1.99 billion packages, growing by 13.7% [3]. - The industry is expected to maintain a double-digit growth rate in express volume due to policies aimed at boosting consumption [3]. Group 2: Pricing Strategies - The conference emphasized the need to shift from traditional reliance on scale and speed to qualitative improvements and reasonable growth, discouraging the "price for volume" model [2]. - In 2025, several regions in China raised express delivery prices, with increases ranging from 0.3 to 0.5 yuan per package, indicating a general acceptance among customers [3][4]. - The price adjustments are seen as necessary for the industry's healthy development, allowing for adequate profit margins to support investments in service quality [4]. Group 3: Technological Advancements - The industry is witnessing an increase in the application of technology, including the deployment of over 3,000 unmanned delivery vehicles, which have significantly reduced transportation costs by 50% [6]. - Companies like Yunda are investing in AI technologies to enhance customer service and operational efficiency, developing tailored solutions for the industry [6]. Group 4: International Expansion - The industry is encouraged to accelerate international expansion while adapting strategies to local market conditions, avoiding the direct replication of domestic pricing strategies [7]. - Jitu reported a 73.6% year-on-year increase in package volume in Southeast Asia, reaching 2.44 billion packages in Q4 2025, while also achieving significant growth in new markets [7]. - SF Express reported a 27% year-on-year growth in international express and cross-border e-commerce logistics revenue in Q3 2025, indicating a positive trend in international business [7].

Core Viewpoint - The issuance of local government bonds in China reached a record high in 2025, with expectations for continued growth in 2026 to support economic stability and infrastructure projects [2][3][20]. Group 1: Bond Issuance Overview - In 2025, approximately 10.3 trillion yuan of local government bonds were issued, marking a 5.2% year-on-year increase and the first time the annual issuance exceeded 10 trillion yuan [3]. - The issuance included 5.37 trillion yuan of new bonds, a 13.9% increase, and 4.93 trillion yuan of refinancing bonds, which saw a 2.9% decrease [4]. - The average issuance interest rate for local government bonds fell below 2% for the first time, with extended maturities [16]. Group 2: Utilization of Bond Proceeds - The funds from new bonds were primarily allocated to major projects, with 26.5% directed towards municipal and industrial park infrastructure, 17% for land reserves, and 16.9% for transportation infrastructure [5]. - A significant portion of the new special bonds was used to support real estate projects, including land reserves and urban renewal, accounting for over 20% of the total [14]. - The issuance of special bonds for debt resolution reached 3.68 trillion yuan, an 8.8% increase, aiding in the replacement of hidden debts and improving local financial conditions [15]. Group 3: Debt Management and Innovations - The management of local government debt has been optimized, with pilot programs allowing for self-approval of special bond projects in select provinces, enhancing efficiency [19]. - The pilot provinces achieved a completion rate of 93% for new special bonds, significantly higher than non-pilot provinces [19]. - Recommendations for 2026 include maintaining a deficit rate above 4% and allocating approximately 5 trillion yuan for new special bonds to support infrastructure and strategic industries [20][21].

开年以来，结构性存款成为银行吸引客户的重要产品。 对黄金类产品风险特征进行重新评估与考量 在国际金价连续大涨、避险情绪升温的背景下，近段时间以来，多家中外资银行密集推出挂钩黄金的结 构性存款产品，期限涵盖3个月至12个月，起存门槛从1万元到1万美元不等，成为黄金投资热潮下的新 选择。 与此同时，贵金属业务风控明显趋严，工商银行等国有大行上调个人积存金风险准入等级，多数银行已 将"平衡型"设为投资入门标准，部分机构进一步提高至"进取型"。业内人士提醒投资者，理性评估风险 是参与黄金投资的关键。 结构性存款挂钩黄金成投资新趋势 元旦节当天，星展银行旗下"星展丰盛理财"首推看涨黄金主题结构性存款，期限为12个月，年化收益分 为1.5%和4%，最低认购金额为1万美元。 1月5日，汇丰中国推出"创煜系列"结构性存款，并非直接挂钩黄金标的，但与金矿公司挂钩，包括紫金 矿业、纽蒙黄金公司及Barrick（巴里克）矿业公司，风险等级为2级，起投金额2万美元，投资期限3 年，票息年化4.5%，触发水平为103%，最低回报率为0.1%。 相比外资银行，国内银行也加快了黄金产品布局。招商银行自2026年以来已发行15只挂钩黄金的结 ...

第一财经从多位当事人处获悉，北京群益律师事务所主任王智于2025年12月初失联。据了解，十多年 来，王智以"诉讼保全"业务作为宣传，通过签订家庭法律服务合同和高息借款合同的方式从社会吸收资 金，每月返利，并利用抽奖等手段吸引出借人投入更多本金。 2025年12月初，出借人发现利息并未准时到账，王智突然失联并将出借人拉黑。律所报案，北京市海淀 区经侦支队已经受理并进行出借人登记，律所部分员工已被控制。 多位当事人说，目前已登记的出借人有数百位，涉及总金额正在统计。多位受访者表示，他们从律所报 案人处获悉，尚存的借款合同的本金达9亿元以上，资金打入了王智控制的账户。受害者中相当部分是 北京退休老人，不少人将退休金、拆迁款、股票投资款、子女结婚款放入其中，甚至有人卖房参与。绝 大部分受访者将其当作回报稳定的投资，很少有人取出本金。 在法律人士看来，王智编造出的"诉讼保全"业务模式漏洞百出，本质上依旧是借新还旧、击鼓传花。 偏爱老年人的另类律所 王智和群益的"另类"业务模式至少持续了十多年。 据一位退休阿姨自述，她于2014年在中关村数码大厦附近看到群益的律师在做普法宣传，群益方声称借 鉴国外家庭医生模式，宣传为每个 ...

当全球金融变革浪潮涌向东方，上海正加速锻造世界级金融科技中心的竞争力。黄浦区——作为中国金 融业的起源地，正以一场深植于历史肌理与城市底蕴、擘画着时代新章与全球视野的创新实践，精心培 育着驱动未来的金融科技基因。在上海外滩金融集聚带，一栋始建于1936年的历史建筑，正成为金融科 技创新要素密集流动的新坐标。 外滩FTC所在的九江路69号，前身为古象大楼，是外滩"第二立面"的典型代表，也曾是历史价值与产业 功能错位的缩影，此前，长期承担传统商务办公功能，空间封闭、设施老化，历史价值与产业功能之间 存在明显错位。 机制与模式的创新：从"项目"走向"平台" 2025年，随着外滩FTC（FinTech Community，Fun Trend Creator）进入实质性运营阶段，黄浦区在推进 金融科技建设上的一项关键布局逐渐清晰：在寸土寸金、历史风貌高度密集的中心城区，通过"金融 +科技""内容+科技"的融合路径，重构金融科技创新的空间载体、运营模式与生态体系，为上海全球金 融科技中心建设提供可复制、可推广的实践样本。 2025年二季度，围绕上海建设全球金融科技中心、黄浦打造标杆性金融科技集聚区的总体部署，黄浦区 与浦 ...

Core Viewpoint - The company, Zhite New Materials, has experienced a significant stock price increase, with its shares hitting the daily limit for four consecutive trading days from January 5 to January 8, 2026, resulting in a cumulative price increase exceeding 100% [1] Group 1: Stock Performance - The stock's rolling price-to-earnings (P/E) ratio and price-to-book (P/B) ratio show considerable differences compared to industry peers [1] - The stock price has risen sharply in the short term, significantly deviating from the overall market index, indicating a potential risk of a rapid price correction [1] Group 2: Company Operations - Since its listing, the company's main business has remained focused on the research, production, and sales of aluminum molds, protective platforms, and prefabricated components, with no changes reported [1] - The company is expected to disclose its annual report for 2025 on April 25, 2026 [1]