据许昌市纪委监委消息：许昌市发展和改革委员会原党组成员、副主任张国丽涉嫌严重违纪违法，目前 正接受许昌市纪委监委纪律审查和监察调查。 (本文来自第一财经) 据许昌市纪委监委消息：许昌市发展和改革委员会原党组成员、副主任张国丽涉嫌严重违纪违法，目前 正接受许昌市纪委监委纪律审查和监察调查。 (本文来自第一财经) ...

在上海两会期间，上海市人大代表、上海夕悦老年颐养服务中心理事长颜铭爱在接受第一财经记者采访 时表示，眼下上海已有50万老人参保长护险，但线下结算存在着医保卡盗刷和资金安全等潜在风险。她 建议，引入区块链技术完善医保码，实现长护险结算一键办理，从而进一步优化现有结算流程，让长护 险更好发挥托底失能群体照护和减轻家庭负担的功能。 在上海两会期间，上海市人大代表、上海夕悦老年颐养服务中心理事长颜铭爱在接受第一财经记者采访 时表示，眼下上海已有50万老人参保长护险，但线下结算存在着医保卡盗刷和资金安全等潜在风险。她 建议，引入区块链技术完善医保码，实现长护险结算一键办理，从而进一步优化现有结算流程，让长护 险更好发挥托底失能群体照护和减轻家庭负担的功能。 ...

英国国家经济社会研究院（NIESR）预计，2026年英国GDP增速为1.4%。 英国国家经济社会研究院（NIESR）预计，2026年英国GDP增速为1.4%。 该研究院经济学家接受第一财经采访时称，英国经济未来需要降低对美国的依赖。 该研究院经济学家接受第一财经采访时称，英国经济未来需要降低对美国的依赖。 ...

Core Viewpoint - The 10-year government bond yield has fallen below 1.81%, indicating a recovery in the bond market, while discussions about the "safe haven" attributes of Chinese government bonds are increasing amid global asset volatility [1][2][3]. Group 1: Bond Market Performance - As of February 5, the 10-year government bond yield decreased to 1.808%, down from nearly 1.9% a month ago, reflecting a decline of over 9 basis points [1][2]. - The 30-year government bond yield also showed a gradual decline, with the active bond "25超长特别国债06" yielding 2.239%, down 1.2 basis points [2][3]. - The bond market has experienced a recovery since January 7, with the 10-year bond yield dropping a cumulative 9.05 basis points and the 30-year bond yield down 9.6 basis points [2]. Group 2: Central Bank Actions - On February 5, the central bank resumed 14-day reverse repos, injecting 300 billion yuan into the market, which positively impacted the bond market [3]. - The central bank's net injection for the day was 645 billion yuan, following the maturity of 354 billion yuan in reverse repos [3]. - The central bank's actions, including a significant increase in net bond purchases in January, have improved market sentiment and contributed to a downward shift in the yield curve [6]. Group 3: Market Outlook - Most institutions predict that the bond market will maintain a strong but volatile performance leading up to the Spring Festival, with increased information flow post-holiday [1][6]. - Analysts expect the 10-year government bond yield may further decline to around 1.75%, while the 30-year yield could stabilize around 2.15% [7]. - The bond market is anticipated to remain stable within the range of 1.8% to 1.9% for the 10-year yield in February, influenced by stable economic expectations and reduced volatility [7][8].

Core Viewpoint - The People's Bank of China (PBOC) is enhancing its macro-prudential management framework, focusing on the establishment of liquidity support mechanisms for non-bank financial institutions as a proactive measure to prevent systemic financial risks [1][2]. Group 1: Macro-Prudential Management Developments - The PBOC's macro-prudential management is transitioning to a "comprehensive coverage" and "prevention-first" paradigm, with a focus on liquidity support mechanisms for non-bank financial institutions [2][3]. - The PBOC's policy focus from 2023 to 2024 is on defensive regulation and risk prevention in key areas, while 2025 marked a shift towards enhancing mechanisms and expanding functions within the regulatory framework [3][4]. Group 2: Liquidity Support Mechanisms - The liquidity support mechanism for non-bank financial institutions is designed as an emergency arrangement for specific scenarios, reflecting a forward-looking approach to macro-prudential management [1][8]. - Experts suggest that the PBOC may explore liquidity support tools similar to the Federal Reserve's ONRRP, but the likelihood of such tools being implemented in China is low due to structural differences in the financial market [6][7]. Group 3: Regulatory Focus on Non-Bank Financial Institutions - Non-bank financial institutions manage trillions of yuan in assets and play a significant role in the bond, stock, and derivatives markets, making their regulation crucial [5]. - The PBOC aims to gradually expand its regulatory coverage to include more systemically important financial institutions, enhancing monitoring of non-bank institutions and cross-border capital flows [5][6]. Group 4: Future Directions for Policy Tools - Future innovations in liquidity support tools may include specialized liquidity facilities for systemically important non-bank institutions, temporary liquidity support during systemic pressures, and expanded collateral options for non-bank institutions [9].

在一定程度上，城市更新的政策优先级已经显著高于一般的稳地产举措。 城市更新，这项事关全国9.4亿城镇人口的系统工程，被寄予在"十五五"期间"带动数十万亿元投资与消 费"的期待。 但受宏观经济形势尤其是房地产市场影响，"钱从哪里来""账如何算平"始终制约着市场主体参与城市更 新的积极性，多地企业开展的城市更新项目依然难以盈利或处于较低的收益水平；一些地区开展城市更 新仍以政府为主，社会资本尤其是民营企业参与不足。 围绕化解城市更新中的堵点难点，据不完全统计，截至2025年底，已有2省16市出台城市更新条例，94 市出台城市更新管理办法，151市印发城市更新指导性文件。进入2026年后，基于前期试点经验和下一 步的投资重点，有关部委已围绕土地、审批等政策，进一步出台系列文件。 地方层面，今年以来，北京、海南、湖南、福建等多省份发布深入推动城市更新的相关政策文件或新三 年行动方案，南京等地明确今年将聚焦支持民间资本参与城市更新等领域项目建设和运营。在近日密集 召开的地方两会中，"城市更新"亦成为北京、上海、广州、河南、河北等多个省市政府工作报告中的关 键词。 随着全国城市更新工作逐渐从试点阶段进入常态化、大范围推进 ...

Core Viewpoint - The establishment of a strategic partnership among the US, EU, and Japan aims to enhance the resilience of critical mineral supply chains, which is essential for economic and national security [1][5]. Group 1: Strategic Partnership and Cooperation - The US, EU, and Japan are taking significant steps to strengthen the resilience of critical mineral supply chains, with a commitment to accelerate cooperation and establish mutually beneficial partnerships [1][5]. - A memorandum of understanding is set to be signed within 30 days to enhance the security of critical mineral supply chains, identifying cooperation areas and stimulating demand through diversified supply [5][6]. Group 2: International Trade Environment - The Chinese government emphasizes the importance of maintaining an open, inclusive, and equitable international trade environment, urging all parties to contribute constructively to the stability and security of global critical mineral supply chains [1][4]. - There is a strong opposition to any country attempting to disrupt international economic and trade order through "small circle" rules [2]. Group 3: Trade Agreements and Relations - The EU has restarted the approval process for the US-EU trade agreement, which had been frozen due to previous tensions related to Greenland and tariffs [8][9]. - The European Parliament is expected to vote on the trade agreement in the upcoming committee meeting on February 24 [8]. Group 4: Economic Measures and Initiatives - The US has announced a $12 billion mineral reserve plan for domestic manufacturers during crises and signed a $125 million agreement for defense reserves [7]. - The US and Mexico are implementing a similar action plan to develop preferential trade through price floors for specific mining and processing projects [7].

国轩高科公告，拟向特定对象发行A股股票募集资金不超过50亿元。募集资金在扣除发行费用后拟全部 用于年产20GWh动力电池项目、国轩高科20GWh新能源电池基地项目、新型锂离子电池（20GWh）智 造基地项目及补充流动资金。 (本文来自第一财经) ...

太空光伏概念股集体回调，板块下跌4.86%。 2月5日，光伏板块全线下挫，深跌6.67%，其中，昨日甚嚣尘上的太空光伏概念股集体回调，板块下跌 4.86%。 在个股方面，截至收盘，钧达股份（002865.SZ）、金辰股份（603396.SH）、双良节能（600481.SH） 等跌停，捷佳伟创（300724.SZ）跌12.39%、晶盛机电（300316.SZ）跌9.85%、拉普拉斯 （688726.SH）跌9.80%、时创能源（688429.SH）跌9.39%，晶科能源（688223.SH）等多只个股跌幅靠 前。 近日，马斯克团队秘密走访中国多家光伏企业，再度引发市场对太空光伏的畅想。不过，昨日晚间，多 只涨幅靠前的太空光伏概念股通过公告或互动平台澄清，未与马斯克团队开展合作。 合作畅想落空？ 在1月底的达沃斯论坛上，马斯克对外抛出"三年100GW太空光伏"的宏大蓝图，引发A股的太空光伏概 念股集体涨停。Wind数据显示：1月22日至2月4日期间，19只太空光伏概念股中，13只涨幅超过10%， 晶科能源、拓日新能（002218.SZ）在短短9个交易日里涨幅超过50%。年内，万得太空光伏概念指数上 涨了27.56 ...

Core Viewpoint - The importance of annual company meetings (year-end parties) remains significant for both multinational and local companies, despite some changes in format and scale due to economic conditions and company policies [3][4][8]. Group 1: Multinational Companies - L Company organized a grand annual meeting featuring a large venue, celebrity appearances, and an engaging atmosphere, highlighting the event's significance for employee morale [2]. - Other multinational companies, such as Roche and a foreign dairy company, also emphasized the importance of annual meetings for boosting employee morale, with various prizes and engaging activities planned [3]. - A foreign dairy company's new CEO made an effort to connect with employees by delivering a speech in Chinese, showcasing the importance of cultural engagement [3]. Group 2: Local Companies - Local companies like Yili Group also prioritize annual meetings, with significant investments in awards and recognition for employees, totaling over 600 million yuan [4]. - The format of annual meetings for local companies is evolving, with some opting for online participation to accommodate a larger audience [5]. Group 3: Changes in Annual Meetings - Economic changes have led to a reduction in the scale and frequency of annual meetings, with some companies canceling them altogether due to logistical challenges and cost considerations [8][9]. - A notable decline in hotel bookings for annual meetings has been reported, with estimates suggesting a 30% decrease in hotel orders for 2026 compared to 2025 [9][10]. Group 4: Hotel Industry Response - Hotels are actively seeking to adapt to the changing landscape by diversifying their offerings, such as "New Year's Eve dinners + accommodation" and targeting senior citizen gatherings [12]. - High-end hotels in regions like Shanghai are experiencing strong demand for New Year's Eve dinner packages, indicating a shift in consumer preferences [12]. - Some hotels are enhancing their services for inbound meetings and events, catering to international clients with tailored experiences [13].