Group 1 - The Ministry of Commerce, in collaboration with nine departments, has launched the "Happy Shopping Spring Festival" special event, introducing a series of policy packages aimed at boosting consumer spending during the holiday season [1] - One major initiative includes a trade-in program, with a total of 62.5 billion yuan in national subsidies allocated to local commerce departments, which will increase subsidy distribution during the nine-day Spring Festival holiday [1] - Another initiative involves a prize invoice program, where 50 cities will pilot a scheme that distributes 10 billion yuan in prize funds during the Spring Festival, allowing consumers to participate in a lottery by submitting invoices over 100 yuan from shopping, dining, tourism, and accommodation [1] - Financial support will be provided through various promotional measures by financial institutions and payment agencies, guided by the People's Bank of China and the financial regulatory authority [1]

2月11日，国务院新闻办举行新闻发布会，商务部相关负责人介绍，今年春节假期，商务部联合9部门策 划"乐购新春"春节特别活动，目前各地已安排20.5亿元资金。在9天假期内，通过发放消费券、补贴、 红包等形式直接惠及广大消费者。 （文章来源：21世纪经济报道） ...

始于去年年末的楼市翘尾行情，至今仍在持续。综合多家机构的研究数据，2026年重点城市房地产市场 交易继续保持热度，其中占据市场主流的二手房交易，尤其值得关注。 根据中指研究院的数据，今年1月，20城二手住宅共成交11.8万套，环比微降3.1%，同比增长 15.3%，"市场整体交易保持一定活跃度"。 二手房交易同比升温，与春节假期错位有关，但即使从绝对规模来看，重点城市也表现不俗。以上海为 例，1月上海二手商品房成交2.28万套，环比增长1.1%，同比增长26.1%，仍是表现最好的城市。 另一个值得关注的变化是，在二手房交易中，业主议价空间略有收窄，说明以价换量的情况有所缓和。 在部分区域，市场交易价格有所上调。 从数据层面来看，经过近年来的调整，房地产市场的量、价均有止跌趋势。与此同时，自去年末以来， 政策端不断释放利好消息，尤其是着眼于长远发展的中长期利好，市场预期也较此前大幅改善。 尽管仍有不同看法，但越来越多的观点认为，2026年房地产市场有望迎来"底部确认"。 "必要的出清" 在多数市场人士看来，本轮房地产市场的调整始于2021年下半年，主要体现在两个方面。一方面，房地 产市场的量、价出现持续调整；另 ...

记者｜孔海丽 编辑｜骆一帆 百度以5亿红包最早入局春节AI战，并拿下《2026北京广播电视台春节联欢晚会》首席AI合作伙伴身 份。 对比行业玩家春节主阵地多为独立APP，百度此次"O计划"仍围绕百度APP展开，可见其仍是百度重点 的AI入口。 SFC 出品丨21财经客户端 21世纪经济报道 编辑丨刘雪莹 见习编辑林芊蔚 日前，网传百度内部启动代号"O计划"项目，内部人士透露与百度APP有关。 据此前消息，百度APP旗下文心助手月活用户数已突破2亿，与豆包、千问形成国内三大亿级AI入口。 2026年春节，包括百度、腾讯、阿里、字节等互联网大厂开启了红包大战，争夺未来AI入口。 ...

Core Viewpoint - *ST Lifan has experienced a significant stock price surge despite facing severe financial misconduct allegations and the imminent risk of forced delisting, with a remarkable increase of 314.93% over a 10-day period [2][4]. Group 1: Stock Performance and Market Reaction - The stock was suspended for verification three times, with the latest suspension occurring from February 6 to February 10, 2025, and it resumed trading on February 11, 2025 [2]. - On February 11, 2025, *ST Lifan's stock opened significantly higher, reaching a peak increase of over 17%, and closed with a gain of 15.11% at 3.20 CNY per share [2]. - The Shenzhen Stock Exchange issued a risk warning regarding the stock's volatility, indicating that it had triggered abnormal trading standards multiple times [2]. Group 2: Financial Misconduct and Regulatory Actions - On November 28, 2025, *ST Lifan received a notice from the Anhui Securities Regulatory Bureau regarding administrative penalties, revealing that the company had inflated revenues by 638 million CNY and costs by 628 million CNY from 2021 to 2023 through various fraudulent activities [3]. - Following the notice, the stock price plummeted, falling below 1 CNY per share in January 2026 [3]. - The actual controller of *ST Lifan issued a public letter to shareholders, claiming that the company's operations were normal and that they had submitted materials to regulatory authorities for defense [3]. Group 3: Financial Performance and Future Outlook - For the year 2025, *ST Lifan is expected to report a net loss of between 180 million CNY and 210 million CNY, compared to a loss of approximately 125 million CNY in the previous year, indicating a widening loss [4]. - The decline in performance is attributed to strategic adjustments, with a more than 80% year-on-year drop in the company's smart hardware and digital services business, alongside low initial margins from new mobile information services [5]. - Additionally, the company has recognized impairment losses of 82 million CNY on goodwill and intangible assets, further exacerbating the financial losses [5].

Core Viewpoint - The four major national Asset Management Companies (AMCs) in China are focusing on their core responsibilities and aligning their operations with national strategies to enhance risk management and support high-quality economic development [1][5][9]. Group 1: Focus on Core Responsibilities - The AMCs emphasize the importance of maintaining their core function of handling non-performing assets and aligning their business development with national strategic needs, particularly in relation to the financial "five major articles" [2][5]. - Great Wall Asset Management aims to "precisely expand non-performing asset business" and innovate in real estate revitalization [2]. - CITIC Financial Asset Management stresses the need to "stick to the main battlefield of non-performing assets" and expand high-quality business investments [2]. Group 2: Risk Management - The AMCs are prioritizing risk prevention and management to ensure stable operations, with a focus on creating a robust "safety net" [9][12]. - Great Wall Asset Management has identified "risk prevention" as a key annual work line, while CITIC Financial Asset Management aims to "strengthen bottom-line thinking" [9][12]. - The AMCs are committed to building a comprehensive risk management system that is intelligent and covers all aspects of their operations [12][15]. Group 3: Technological Empowerment - The AMCs are pushing for digital transformation and talent development as key drivers for enhancing their core competitiveness [16]. - Great Wall Asset Management plans to deepen reforms in personnel, incentives, and management [16]. - CITIC Financial Asset Management aims to become a leader in industry transformation through the implementation of a "strong core" project [16].

这个问题，其实戳中了当前整个AI行业最敏感的那根神经——数据来源的合规性。其实不只字节，谷 歌、OpenAI这些大佬们的模型，哪个不是吃着海量公开数据长大的？但问题在于，文字、图片、视 频，它们的"个人属性"是越来越强的。用你的文章训练，可能你觉得是学习；但用你的脸和声音训练， 这感觉就完全不一样了，对吧？ 先给大家看一段视频，你们觉得拍这么一段得花多少钱多长时间？ 如果我说，这根本不是实拍，而是AI在几分钟内"一键生成"的，你敢信吗？ 春节前，当大家还在忙着抢红包的时候，字节跳动毫无征兆地扔出了一颗"王炸"——新一代视频生成模 型Seedance 2.0。 AI生成视频不是什么新鲜事，但过去可能得花不菲的价钱，反复生成几十次，才能赌到一个勉强能用 的片段。但Seedance 2.0不一样，它号称"一条过"，一次生成的视频可用率据说能达到惊人的90%。 光能看还不够，它还能把你的想法，直接变成"导演级"的叙事，知道什么时候该特写，什么时候该拉 远，还能让不同镜头里的主角保持一致。影视飓风的Tim在体验后都抑制不住兴奋地表示，模型在摄像 机运动、分镜连续性以及音画匹配上都非常出色。 这意味着什么？这意味着，导演 ...

先给大家看一段视频，你们觉得拍这么一段得花多少钱多长时间？ 这最紧张的，可能是那些刚刚看到曙光的短剧公司和动画工作室。AI大幅降低高质量内容的创作门 槛，意味着供给会爆炸式增长，竞争会空前激烈。同时也意味着，创作者的核心竞争力从执行转向了比 拼脑洞、创意和故事。未来，会不会出现"一人影视公司"？一个人加一个AI，就能跑通从剧本到成片的 全部流程？这并非天方夜谭。 另一方面，我们也不能忽视背后的风险。Tim发布的实测视频中有两个细节：第一，他只上传了自己的 一张脸部照片，AI生成视频里的声音竟和他本人的声音、语气一模一样。第二，他上传了一栋楼的正 面照，AI生成的镜头，居然会自己"绕到"楼后面去。Tim推断，他和团队多年来拍摄的大量高清视频素 材，可能在不知情的情况下，已经被用于训练这个模型了。 这个问题，其实戳中了当前整个AI行业最敏感的那根神经——数据来源的合规性。其实不只字节，谷 歌、OpenAI这些大佬们的模型，哪个不是吃着海量公开数据长大的？但问题在于，文字、图片、视 频，它们的"个人属性"是越来越强的。用你的文章训练，可能你觉得是学习；但用你的脸和声音训练， 这感觉就完全不一样了，对吧？ AI生成视 ...

港股市场早盘持续走强，午间收盘，恒生指数涨0.43%，国企指数涨0.41%，恒生科技指数涨1.10%。 黄金股多数走强，灵宝黄金张超7%，山东黄金、中国黄金国际张超5%。 医疗保健持续活跃，时代天使张超6%，映恩生物-B、脑动激光-B、药明生物、四环医药等跟涨。 内地保险板块走弱，中国人寿、中国太保跌超2%。 电影概念陷入回调，大麦娱乐跌超5%，猫眼娱乐跌超4%。 南向资金方面，早盘南向资金净买入超30亿港元。 （文章来源：21世纪经济报道） ...

2月10日两市ETF两融余额为1200.01亿元，较前一交易日减少10.85亿元。其中融资余额为1124.56亿元，较前一交易日减少10.86亿元；融券余额为75.45亿 元，较前一交易日增加141.45万元。 ETF融资买入额 市场概况 分市场来看，沪市ETF两融余额为843.29亿元，较前一交易日减少8.95亿元。其中融资余额为777.49亿元，较前一交易日减少9.08亿元；融券余额为65.8亿 元，较前一交易日增加1320.89万元。深市ETF两融余额为356.72亿元，较前一交易日减少1.89亿元。其中融资余额为347.07亿元，较前一交易日减少1.78亿 元；融券余额为9.65亿元，较前一交易日减少1179.44万元。 ETF融资融券余额 2月10日ETF两融余额前三位分别为：华安易富黄金ETF（74.84亿元）、易方达黄金ETF（41.05亿元）和国泰中证全指证券公司ETF（38.8亿元），前10具体 见下表： | 代码 | 基金名称 | | --- | --- | | 518880.SH | 华安易富黄金ETF | | 159934.SZ | 易方达黄金ETF | | 512880.SH | 国 ...