首先，从产品属性看，"黄金+存款"产品的本质依然是存款，只不过是一种结构性存款。既然是存款， 其本金就有保障，受我国存款保险制度保护，这也是结构性存款与结构性理财的最大不同之处，后者目 前已打破刚性兑付，既不保本也不保息，投资者存在损失本金的潜在可能。 看懂"黄金+存款"产品 作为一线服务窗口，金融机构在销售结构性存款产品时，要充分尊重投资者的知情权与选择权，为投资 者提供专业的解惑答疑服务，不可误导投资者。笔者曾在部分银行网点看到，对于投资者的询问，一线 服务人员或是缺乏专业知识支撑，或是缺乏耐心，要么导致投资者误解，要么引发投资者不满。与此同 时，随着移动互联网飞速发展，投资者通过线上渠道解惑答疑的需求日益增长，面对此需求，部分金融 机构的服务能力也较为有限。接下来，金融机构要从线上、线下渠道入手，重点加强对一线服务人员的 培训与监督，有效弥合金融产品与投资者之间的信息不对称，让投资者理性选、放心买。(作者：郭子 源 来源：经济日报) 受国际金价波动影响，今年开年以来，多家股份制商业银行、外资银行推出了黄金相关存款产品，即黄 金挂钩结构性存款，备受市场关注。与此同时，部分上市公司近期披露的公告显示，已购买 ...

Core Insights - The State Council's recent meeting emphasizes the transition from household registration-based public service provision to residence-based services, aiming to address the urgent needs of the unregistered permanent population [1][2] - The shift will allow unregistered residents to access equal public services in education, healthcare, social security, and housing, breaking the rigid link between public services and household identity [1][2] Group 1: Demographics and Needs - The unregistered permanent population is primarily composed of new-generation migrant workers who are better educated and more eager to integrate into urban life [2] - There is a growing trend of families migrating together rather than individuals, leading to increased demand for comprehensive public services related to education, healthcare, and housing [2] - Major inflow areas include developed eastern coastal regions and key city clusters, resulting in significant public service supply-demand imbalances in these regions [2] Group 2: Economic Implications - Providing public services based on residence is crucial for unlocking domestic demand and increasing investment in human capital [3] - Research indicates that once farmers transition to urban permanent residents, their per capita consumption can increase by 30%, with an additional 30% increase after settling in urban areas [3] - A 1% increase in urbanization rate can generate over 200 billion yuan in consumer demand and more than 1 trillion yuan in investment demand [3] Group 3: Policy Implementation - The meeting outlines targeted measures to address pressing issues in education, housing, and social security, including improving policies for the education of migrant children and expanding public rental housing [3][4] - Emphasis is placed on a scientific and regionally tailored approach to policy implementation, allowing for local exploration while maintaining a unified national policy framework [3][4] - The reform aims to enhance the attractiveness and livability of cities, shifting the focus from GDP and large projects to human-centric development and overall quality of life [4]

高水平联通激发出蓬勃的经贸活力。2025年，我国对共建"一带一路"国家进出口23.6万亿元，增长 6.3%，占进出口总值的51.9%。投资合作也持续升温，2025年前11个月，我国企业在共建"一带一路"国 家非金融类直接投资2555.3亿元，同比增长19%。 高质量发展的成色，还体现在标志性工程与惠民生"小而美"项目的协同推进。2025年，喀麦隆恩图 至恩乔莱公路项目、土耳其图兹湖地下天然气储库扩建项目、阿富汗艾娜克铜矿项目等一批关键工程取 得重要进展。同时，鲁班工坊、"光明行"等一批标志性民生工程持续推进，切实改善当地民众生活，凝 聚起民心相通的强大力量。 "高质量共建'一带一路'已成为中国为国际社会提供的重要公共产品，成为各国携手走向现代化和 人类通向美好未来的希望之路。"商务部国际贸易经济合作研究院研究员彭波说。 顺应变局育新机 经济日报记者 杨啸林 2025年中央经济工作会议提出，推动共建"一带一路"高质量发展。这是统筹把握国内国际两个大局 作出的重要部署，是"十五五"开局之年扩大高水平对外开放的关键路径，将进一步促进全球开放合作， 为世界提供互利共赢新机遇。 迈入发展新阶段 我国与超50个国家和国际 ...

Group 1 - The core focus of economic development should be on the real economy, emphasizing the optimization and upgrading of traditional industries while nurturing emerging and future industries [1] - As of 2024, China's manufacturing sector has maintained its position as the largest in the world for 15 consecutive years, providing a solid foundation for economic stability [1] - The real economy serves as a major channel for job creation, providing billions of jobs and reinforcing social stability [1] Group 2 - The development of the real economy faces significant challenges, including pressure on traditional industries to upgrade, resource and environmental constraints, and a lag in high-end and intelligent manufacturing [2] - There is a notable gap in core technology capabilities, with weak basic research and low patent conversion rates, alongside high financing costs for small and medium-sized enterprises [2] - To strengthen the foundation of the real economy, it is essential to optimize traditional industries through technological innovation, digital transformation, and a focus on green and low-carbon development [2] Group 3 - Strengthening the real economy also involves the development of emerging and future industries, which can drive collaborative upgrades across the industrial chain and create new demand [3] - The service sector is a crucial component of the real economy, and its efficient development can facilitate manufacturing upgrades and enhance employment opportunities [3] - Ultimately, the goal is to establish a modern industrial system centered on advanced manufacturing, balancing domestic and international markets while promoting quality and brand transformation in Chinese products [3]

Core Viewpoint - The article emphasizes the importance of a holistic approach to economic and social development during the "14th Five-Year Plan" period, advocating for coordinated policies and long-term planning to achieve sustainable growth [1][2][3] Group 1: Strategic Planning - The "14th Five-Year Plan" marks the beginning of a new phase in China's economic development, requiring a comprehensive understanding of both current challenges and long-term goals [1] - Local governments should align their initiatives with national strategies, ensuring that regional development supports broader national objectives [2] - Successful examples like the Yangtze River Delta integration and the Guangdong-Hong Kong-Macau Greater Bay Area demonstrate the benefits of collaborative planning beyond administrative boundaries [2] Group 2: Balancing Priorities - A balanced approach is necessary, focusing on key areas while also considering the interconnections between economic development and social welfare [3] - Strong social safety nets can enhance domestic demand and stabilize societal expectations, while effective governance can improve the business environment [3] - The article highlights the need for a cohesive strategy that integrates various sectors, ensuring that economic growth is accompanied by improvements in social and environmental conditions [3]

Core Insights - Various regions in China, including Shanghai, Liaoning, and Hubei, are holding meetings to focus on developing new productive forces, enhancing business entities, and optimizing the business environment, indicating a strong commitment to high-quality development in the new year [1][2][4] Group 1: Regional Initiatives - Shanghai has prioritized optimizing the business environment for nine consecutive years, launching a plan with 26 specific measures to address issues like bidding and payment delays [1] - Liaoning's meeting on the first working day of 2026 focused on eight key areas for improving the business environment, establishing a closed-loop management mechanism for strict enforcement against violations [1] - Hubei's technology innovation conference aims to position the province as a hub for original innovation and high-quality development driven by technology [2] Group 2: Strategic Focus - The meetings emphasize the importance of early deployment and clear task lists, reflecting a proactive approach to addressing both external uncertainties and internal growth challenges [2][3] - Key topics include enhancing new productive forces, expanding business entities, and promoting high-level openness, with a focus on systemic support rather than isolated policy measures [4][6] Group 3: Investment and Economic Growth - Major project construction is highlighted as a key driver for stabilizing economic growth, with Yunnan declaring 2026 as a "Project Attack Year" and Shenzhen launching 222 new projects with a total investment of approximately 157.34 billion [8] - Investment strategies are shifting from government-led initiatives to a dual approach involving both government and private sector investments, emphasizing green energy and circular economy projects [8] Group 4: Social and Economic Stability - Regions are addressing economic and financial risks while ensuring safety in production and food security, with specific measures to prevent systemic financial risks and promote agricultural modernization [9] - Many areas are focusing on social welfare projects, including employment, education, and healthcare, to ensure a safety net for citizens while pursuing economic growth [9]

Core Viewpoint - The article emphasizes the importance of a coordinated and holistic approach to economic and social development during the "14th Five-Year Plan" period, highlighting the need for strategic planning and policy alignment to address complex challenges [1][2]. Group 1: Strategic Planning and Coordination - The "piano playing" metaphor illustrates the necessity of balancing local interests with national strategies, ensuring that regional actions align with broader national goals [1][2]. - Local governments are encouraged to integrate their development plans with national strategies, exemplified by successful initiatives like the Yangtze River Delta integration and the Guangdong-Hong Kong-Macau Greater Bay Area [2][3]. - Emphasis is placed on the need for a long-term perspective in planning, recognizing both opportunities and challenges while fostering new advantages in line with sustainable development [2][3]. Group 2: Economic and Social Synergy - The article highlights the interdependence of economic development with social welfare, governance, cultural prosperity, and ecological civilization, suggesting that robust social policies can enhance economic stability [3]. - A focus on enhancing the connections between key areas of work is essential for ensuring a cohesive approach to building a modern socialist state [3]. - The future landscape of development is characterized by complexity, necessitating a systematic approach to ensure that various policies and reforms support one another effectively [3].

Group 1 - The core viewpoint is that the integration of artificial intelligence (AI) and industrial internet is crucial for innovation and development, enhancing both sectors and contributing to the construction of a manufacturing and cyber power in China [2][5] - AI is a strategic technology leading a new round of technological revolution and industrial transformation, significantly applied in the manufacturing sector, while the industrial internet serves as a vital infrastructure for new industrialization, covering 41 industrial categories and entering a new stage of high-quality development [2][3] Group 2 - AI and industrial internet mutually promote each other, with AI's capabilities aiding in upgrading industrial internet facilities and optimizing services, while the industrial internet provides the necessary data resources and connectivity for AI to function effectively [3][4] - Data is a critical link between AI and industrial internet, as high-quality industrial data drives AI's technological iterations and innovations, enabling a transition from digital connectivity to comprehensive intelligence in the industrial sector [3][4] Group 3 - The integration aims to address complex industrial challenges that traditional technologies struggle to solve, such as the shortage of high-quality industrial data and the difficulties in deploying large industrial models due to diverse application needs and high costs [4] - To unleash the potential of this integration, it is essential to enhance the intelligence level of industrial internet platforms, break down data barriers, and encourage smart upgrades across all stages of industrial processes [4] Group 4 - The collaboration between AI and industrial internet is expected to provide a significant boost to China's manufacturing sector, which has maintained the largest value-added scale globally for 15 consecutive years, supported by a robust information and communication network [5]

Group 1: Economic Overview - In the past year, China's economy faced challenges, with retail sales exceeding 45.6 trillion yuan, growing by 4.0%, indicating consumer spending remains a stabilizing force [1] - By the end of December, the number of business entities reached 195 million, with over 100 million tax-related entities, reflecting robust market vitality [1] Group 2: Platform Economy Regulation - The competition among major platforms like JD, Taobao, and Meituan in the food delivery sector involved nearly 100 billion yuan in investments, leading to improved service quality and better treatment for delivery riders [2][3] - Regulatory bodies played a crucial role in maintaining fair competition, shifting the focus from subsidy wars to enhancing service quality and ensuring food safety [2][3] Group 3: Addressing Deep-rooted Issues - Regulatory efforts in 2025 targeted the "algorithmic hegemony" and unreasonable rules imposed by platforms, leading to the cancellation of controversial refund policies and promoting fairer trading practices [3] - Major platforms committed to creating a win-win ecosystem for consumers, merchants, and delivery riders, with initiatives like eliminating penalties for late deliveries and increasing social security coverage for riders [3][4] Group 4: Combating "Involution" Competition - "Involution" competition emerged as a significant challenge in 2025, characterized by price wars that compromised product quality and safety, as seen in the drastic decline of profit margins for brands like Laiyifen [6][7] - The government emphasized the need to shift competition from price-cutting to value creation, with regulatory measures aimed at addressing unfair practices and enhancing product quality [6][7][8] Group 5: Food Safety and Standards - The "pre-made dish" controversy highlighted public concerns over food safety, prompting regulatory bodies to accelerate the establishment of national standards for the industry [10][11] - Regulatory measures included comprehensive food safety oversight and the introduction of transparency in food production processes to restore consumer trust [11][12] Group 6: Market Dynamics and Innovation - The regulatory framework aims to create a balanced market environment where quality and innovation are prioritized over low prices, allowing businesses to thrive without compromising standards [9][12] - The response from the industry includes innovative dining experiences and significant investments in product development, indicating a shift towards higher quality offerings [9][12]

Core Viewpoint - The "14th Five-Year Plan" emphasizes the importance of consolidating and strengthening the foundation of the real economy as a strategic task, highlighting its critical role in China's modernization efforts [1]. Group 1: Modern Industrial System - Building a modern industrial system is a strategic choice to strengthen the foundation of the real economy and is essential for promoting high-quality development [2]. - The focus should be on intelligent, green, and integrated development, promoting deep integration of technological and industrial innovation [2]. - Traditional industries need optimization and enhancement, while emerging industries should focus on cultivation and growth in sectors like new energy and aerospace [2]. Group 2: Manufacturing Sector - The manufacturing sector is fundamental to national strength and the core of the modern industrial system, with China's manufacturing value added accounting for nearly 30% of the global total [3]. - China has maintained its position as the world's largest manufacturer for 15 consecutive years, producing the majority of 504 major industrial products globally [3]. - The goal is to strengthen and optimize the manufacturing sector, ensuring it remains a backbone of the modern industrial system [3]. Group 3: Service Industry - The modern service industry is a crucial support for the modern industrial system, but it faces structural and systemic challenges [3]. - There is a need to promote high-quality development in the service sector, enhancing the integration of productive services with manufacturing [3]. - The focus should be on improving the quality and diversity of life services while advancing the digitalization of the service industry [3]. Group 4: Infrastructure Development - Infrastructure is essential for industrial development and must be optimized to support the real economy [4]. - A modern infrastructure system should leverage China's large market and existing facilities, focusing on new infrastructure construction and the digital transformation of traditional infrastructure [4]. - The goal is to enhance the resilience and adaptability of infrastructure to support China's modernization efforts [4].