（原标题：央行重拳出击 华夏银行、北京银行合计被罚近4000万元） 中国人民银行连续开出大额罚单，直指商业银行在反洗钱、征信与账户管理中的深层次漏洞。11月28 日，央行连续发布银罚决字〔2025〕75—83号与84—95号行政处罚决定书，对华夏银行、北京银行及其 相关责任人合计处以近4000万元罚款。其中，华夏银行被罚1365.5万元，北京银行被罚2526.85万元，并 均被警告及没收违法所得。21名管理人员被追责，涉及运营管理、个人业务、信用卡中心、法律合规等 多个关键部门。违规行为涵盖账户管理、收单与代收业务、反假货币、财政存款占压、信用信息管理及 反洗钱核心义务履行等九大至十类问题。 从处罚内容看，华夏银行股份有限公司存在十项违法行为，具体包括：违反账户管理规定；违反清算管 理规定；违反收单业务管理规定；违反反假货币业务管理规定；违反人民币流通管理规定；违反信用信 息采集、提供、查询及相关管理规定；未按规定履行客户身份识别义务；未按规定保存客户身份资料和 交易记录；未按规定报送大额交易报告或者可疑交易报告；以及与身份不明的客户进行交易。 来源：中国人民银行 北京银行股份有限公司则存在九项违法行为，分别 ...

Core Viewpoint - The Chinese patent medicine industry is facing increased scrutiny and regulatory challenges, particularly regarding pricing disparities and the misuse of traditional medicine prescriptions, necessitating a shift towards genuine innovation and responsible practices [1][2][3]. Group 1: Regulatory Environment - The Tianjin Medical Insurance Bureau has initiated price risk management for 230 Chinese patent medicine varieties, revealing price discrepancies as high as 3042 times among different products [1]. - The regulatory environment for Western medicine is becoming stricter, with the National Medical Products Administration (NMPA) enforcing quality and efficacy evaluations, while Chinese patent medicine companies have been able to evade similar scrutiny [2]. - There is a growing concern about the misuse of Chinese patent medicines, with some hospitals excessively prescribing these medications, leading to calls for stricter regulations on who can prescribe them [1][2]. Group 2: Industry Challenges - The Chinese patent medicine industry has rapidly developed into a market exceeding 400 billion yuan, but it has been marred by over-marketing and misinterpretation of "integrated Chinese and Western medicine" [2]. - The reliance on "micro-innovation" and "pseudo-innovation" is becoming unsustainable as regulatory standards tighten, pushing companies to seek true innovation rather than minor adjustments to existing products [2][3]. - The era of inflated pricing and high profits for Chinese patent medicines is coming to an end, prompting leading companies to explore transitions into broader health product markets [3]. Group 3: Recommendations for the Industry - Companies are advised to move away from superficial innovations and focus on developing new medicinal materials, formulations, and delivery methods to meet stricter regulatory requirements [2][3]. - A return to the principles of "differentiated treatment" in traditional Chinese medicine is recommended, with a call for the NMPA to limit the scope of indications for Chinese patent medicines to prevent misuse [3]. - The industry should shift from being solely a medical insurance product to a broader health product, targeting preventive care for populations at risk of health issues [3].

Core Insights - The Beijing home service industry has seen a significant increase in registered companies, with a 45.7% rise in the number of home service-related enterprises from 13,800 to 20,100 in the first ten months of 2025 compared to the previous year [1] - The influx of new entrants has led to intense price competition, resulting in lower service prices and impacting the wages of home service workers [2][5] - Despite the challenges, the home service industry remains a lucrative market due to the growing demand for elderly care and childcare services, with an estimated labor gap exceeding 20 million [8] Market Dynamics - The entry of new companies has been fueled by favorable policies, with the Beijing Municipal Human Resources and Social Security Bureau planning to guide 10,000 home service workers to Beijing each year from 2025 to 2027 [3] - The industry is characterized by a low entry barrier, leading to a rapid increase in the number of small home service companies, which often resort to price wars to capture market share [3][4] - The average monthly salary for live-in elderly care workers has decreased from 5,000 yuan to 4,500 yuan, reflecting the downward pressure on wages due to market competition [6][7] Employment Trends - Home service workers are increasingly accepting lower wages due to the competitive landscape and their own financial pressures, with many now willing to take jobs at reduced rates [6][7] - The overall wage levels for home service personnel have remained stable, but specific sectors like elderly care and cleaning have seen slight declines [6][7] - The demand for home services has not fully recovered to pre-pandemic levels, with ongoing fluctuations in employer spending influencing service pricing [7] Industry Characteristics - The home service industry in Beijing is described as "small and scattered," with 44.1% of companies having registered capital of less than 1 million yuan [4] - Many small companies are cutting costs by reducing the vetting and training of service personnel, which raises concerns about service quality [4] - The industry is projected to continue growing, with a market size reaching trillions and over 30 million workers nationwide, indicating potential for new entrants who can establish effective business models [8]

展名：钢铁与荣耀——欧洲骑士盔甲与文化展 展览地点：南京城墙博物馆 一场名为《钢铁与荣耀——欧洲骑士盔甲与文化展》2025年11月28日起在南京城墙博物馆举行。本次展 览汇集意大利都灵王宫博物馆及王室军械库等机构的百件殿堂级馆藏珍宝，包括三套完整骑士盔甲、一 套战马盔甲，以及剑、盾、头盔等百余件精选文物，生动还原欧洲中世纪的骑士装备体系与时代风貌。 本次展览旨在展示欧洲骑士的发展脉络与文化魅力。通过意大利都灵王宫博物馆及其下的古物博物馆、 王室图书馆、萨伏伊画廊等场馆所藏的140件/套文物，为观众呈现骑士的历史。 （原标题：南京看展：钢铁与荣耀——欧洲骑士盔甲与文化展） 展览时间：2025年11月28日——2026年4月15日 ...

（原标题：从厌学到复学｜21 当复学失败时——如何避免二次伤害） 复学的过程往往一波三折，并不是所有的尝试都能一次成功。有的孩子可能在走进校园几天后，又因为 焦虑、压力而拒绝上学；有的孩子坚持了几周，又因为一次考试失利、一场同学矛盾，再次退回"不愿 出门"的状态。面对这样的"复学失败"，家长的第一反应往往是焦虑、自责甚至愤怒，但这时候最关键 的，不是追问"为什么又放弃"，而是先稳住情绪，避免因为不当应对给孩子造成"二次伤害"——让孩子 知道"即使没做好，你依然值得被接纳"，才能为再次出发保留信心和勇气。 当孩子提出"不想上学"的时候，家长很容易被情绪带动，说出或做出让孩子更受伤的事。以下3种常见 的"本能反应"正在制造二次伤害： 一种是否定和指责。比如，"我花了这么多时间陪你准备，你说不去就不去？太没毅力了！""别人都能 好好上学，就你不行？"——这种话语会让孩子把"复学失败"等同于"自己没用"，加重自我否定； 一种是过度焦虑与追问，"你到底为什么不想去？是不是老师说你了？还是同学欺负你了？""再这样下 去，你以后怎么办？"——密集的追问和负面预判，会让孩子觉得"家长比我更慌"，进而更害怕面对问 题； 一种是 ...

（原标题：经观头条丨香港宏福苑大火44小时） 经济观察报记者 郑晨烨 11月28日上午10时18分，香港特区政府消防处正式宣布，大埔宏福苑火灾的灭火及救援工作完成。此时，距离11月26日下午2时51分火灾开始，已 经过去了约44个小时。 28日下午，经济观察报记者重返事发现场。虽然明火已在数小时前被扑灭，但封锁线内的空气中，依然弥漫着一股浓烈刺鼻的、混合了化学塑胶 与建筑焦炭的气味。宏福苑东南侧的三栋大厦，外立面已完全呈焦黑色，曾包裹着大厦的绿色防护网与竹制脚手架已化为灰烬，仅剩部分扭曲的 棚架结构挂在墙体上。 在28日下午举行的官方发布会上，香港特区政府保安局局长邓炳强通报了最新的伤亡数据，截至目前，这场火灾已造成128人遇难。 随着搜救工作的结束，针对事故责任的刑事调查也在全面展开。香港警方已于28日凌晨采取行动，拘捕了涉事工程承建商"宏业建筑工程有限公 司"的3名负责人，包括2名董事及1名工程顾问，指控罪名为涉嫌"误杀"。 警方及消防处在初步调查中发现，起火大厦外墙铺设的防护网及部分单位窗户密封用的物料，存在严重的易燃隐患。同日，香港廉政公署宣布成 立专案小组，就该屋苑总额达3.3亿港元的大维修工程是否 ...

Core Viewpoint - The relative stability of China's aviation fuel market has been disrupted, initiating a transformation led by industry giants that aims to reshape the competitive landscape and industry structure [2][8]. Group 1: Announcement and Reorganization - On October 30, 2025, China Aviation Oil (Singapore) Co., Ltd. announced that its controlling shareholder, China Aviation Oil Group, is undergoing a reorganization with another enterprise group [3][9]. - The reorganization is characterized as a comprehensive integration of assets, channels, and personnel, indicating a significant shift beyond mere capital cooperation to a restructuring of the entire industry chain [4][5]. Group 2: Market Impact and Industry Response - Analysts suggest that if the reorganization is successful, it will reshape the domestic aviation fuel market's competitive dynamics, focusing on enhancing efficiency across the entire supply chain from refining to refueling [7][15]. - Various stakeholders in the industry, from major corporations to smaller firms, are reacting swiftly to the news, with concerns about pricing power and supply stability emerging as key issues [8][20]. Group 3: Strategic Goals and Future Outlook - The reorganization aims to create a "giant" capable of competing with international energy giants, driven by dual strategies of achieving carbon neutrality and ensuring supply chain autonomy [8][12]. - The integration of China Aviation Oil Group's extensive distribution network with the energy giant's refining capabilities is expected to optimize costs and enhance operational efficiency [11][13]. Group 4: Competitive Landscape and Challenges - The aviation fuel market, previously characterized by a stable triangular structure dominated by state-owned giants, is facing a potential shift towards a more competitive environment where efficiency and cost become the primary competitive factors [16][15]. - Smaller companies express concerns about being squeezed out of the market as a result of the emergence of a dominant player, leading to strategic reassessments and adaptations [18][19]. Group 5: Sustainable Aviation Fuel (SAF) Initiatives - China Aviation Oil Group is actively positioning itself in the sustainable aviation fuel (SAF) sector, with strategic investments and partnerships aimed at preparing for future regulatory requirements and market demands [25][26]. - The reorganization raises questions about how the new entity will approach the SAF market, particularly regarding the treatment of private sector players [26][27]. Group 6: Investment and Market Opportunities - Investors are reevaluating the energy sector landscape, focusing on the integration of companies within the newly formed industry ecosystem rather than solely on individual technological advancements [29].

2025年11月19日，招商局仁和人寿保险股份有限公司（下称"招商仁和"）发行的资本补充债券正式开始 计息，票面利率2.4%。 发行新债券的同时，招商仁和决定对2020年发布的一笔8亿元的资本补充债券行使赎回选择权，该只债 券票面利率为4.95%。 通过新旧债券的置换，招商仁和一年可节省2000万元的利息支出。 无论是出于补充资本的需求，还是置换过往的高利率债券，险企的发债潮仍在继续。 经济观察报记者统计发现，2025年以来，已经有20家险企发行了金融债券，累计金额741亿元，虽然不 及2023年、2024年的千亿级规模，但仍然处于高位。 发新还旧 招商仁和票面利率为2.4%的资本补充债券得到了投资者的认可。 招商仁和原本计划发行8亿元的资本补充债，由于申购倍数增加，其行使了超额增发权，最终发行13亿 元。 无独有偶，英大泰和人寿保险股份有限公司（下称"英大泰和"）和中国财产再保险有限责任公司（下 称"中再产险"）也在11月发行了资本补充债券。作为头部再保险公司，中再产险的债券发行规模为40亿 元，票面利率为2.2%；英大泰和发行规模相对较小，为25亿元，票面利率为2.3%。 经济观察报记者发现，2025年以 ...

（原标题：原生家庭创伤：在孩子面前吵架，负能量足以毁灭一个孩子） 世上极少有不吵架的父母，再恩爱的夫妻也难免会遇到矛盾，发生激烈的争吵。争吵过后，不管问题是 否得到解决，反正脾气是发完了，情绪也宣泄了，一切似乎又恢复了平静。 然而，父母经常吵架，对孩子的伤害最大！ 父母吵架时说的每一句攻击对方的狠话，对于夫妻双方来说，可能只是一时的气话，不放在心上，但孩 子会全盘接收并放在心上。 他们惶恐、着急而又无法理解，更不知道怎么做才能改变这个局面。于是，他们的潜意识就会制造一些 问题来换取父母的和谐，出现磨牙、做噩梦、经常生病、注意力不集中、爱发脾气、不听教导、学习散 漫等现象。 原来儿时父母吵架的经历，能够那么深远地影响着一个孩子，它所带来的巨大负能量足以毁灭孩子的一 生！甚至，超过父母离婚对孩子的伤害…… 很多人都不知道，「父母的争吵」常常会成为孩子痛苦的记忆，这种记忆甚至会跟随他们进入成年。 01 「争吵」刺激年幼记忆 在一次家庭治疗课程上，一位男士向我们讲述了自己和妻子的一次冲突。 有一天晚上，他和妻子因为一件家事的分歧发生了言语冲突，那段时间他工作不顺，父母又同时生病， 他和妻子在忙碌工作之余还要奔走照顾两 ...

（原标题：从厌学到复学｜23 与学校沟通的艺术——家长如何与老师协同支持孩子） 孩子的复学之路，不是家庭"单方面的战斗"，而是需要家长和学校"同频发力"——老师是孩子校园生活 的直接观察者，家长是孩子心理状态的第一感知者，只有双方打通信息、统一方向，才能给孩子构 建"家校无缝衔接"的支持网。但很多家长在与老师沟通时，常陷入"要么不敢说，怕给老师添麻烦、要 么不会说，只抱怨问题没给需求方案"的困境，反而让协同效果打折扣。 与老师沟通的核心，不是"求老师特殊照顾"，而是"让老师理解孩子的情况，共同找到适合他的支持方 式"。 很多家长沟通前没理清目标，要么只说"孩子又不想上学了，您多管管"，要么反复吐槽"孩子在家很叛 逆"，导致老师只能被动接收负面信息，难以给出有效支持。 作为家长，我们与老师沟通的核心目标应该聚焦以下3点： 1、让老师"懂孩子"：传递孩子的"特殊情况"，如厌学的主要原因、当前的情绪卡点、比较好使的沟通 方式，； 2、和老师"定方案"：共同约定"校园里的支持细节"，如课堂提问、作业要求、社交引导的一些做法， 让老师知道"怎么做能帮到孩子"； 3、与老师"通信息"：建立"定期反馈机制"，如每周简单同步 ...