Group 1 - The International Telecommunication Union (ITU) reported that by December 2025, China has submitted plans for over 200,000 large-scale satellite constellations, setting a new record for satellite constellation applications in the country [1][2] - The applications include contributions from various entities such as China Satellite Network Group, Shanghai Yuanxin, and traditional telecom operators like China Mobile and China Telecom, indicating a rapid integration of satellite internet into the national information infrastructure [1][2] - According to ITU regulations, satellite frequency and orbital resources follow a "first-come, first-served" principle, requiring the first satellite to be launched within seven years of application and full deployment within nine years, which means China must launch its first satellite by the end of 2032 and complete all deployments by the end of 2039, averaging 14,300 launches per year [2] Group 2 - CITIC Securities predicts that by 2026, China will see a surge in test flights of reusable rockets, which will help reduce launch costs and increase frequency to meet the growing demand for satellite launches [3] - In 2025, China successfully completed the maiden flights of the Zhuque-3 and Long March 12A reusable rockets, although further technical iterations are needed for first-stage recovery [3] - The construction and utilization of domestic commercial rocket launch sites are expected to shorten the test flight cycle, with the total number of launches in 2026 projected to exceed 100, up from 92 in 2025, laying a solid foundation for regular reusable rocket launches [3] Group 3 - A detailed table outlines various rocket models planned for 2026, including the Long March 12A, Long March 12B, and Zhuque-3, with specific launch timelines and key information about their development status [4] - The Long March 12A has successfully completed its first flight but is currently undergoing optimization for recovery, while the Long March 12B is expected to have its maiden flight in 2026 [4] - Other models like the Long March 10 series and Zhuque-3 are also scheduled for launches in 2026, indicating a robust pipeline for China's space launch capabilities [4]

·中国人民银行：2026年将继续实施好适度宽松的货币政策 ·中国外汇储备创十年新高黄金储备14个月连增 ·美联储官员：目前可能已接近"中性利率" ·日本央行对全国所有9个地区的经济形势评估维持不变 ·澳洲联储副主席：此前的降息可能是本周期最后一次降息 ·泰国央行：正在收紧与黄金相关及无关的外汇交易 ·以色列央行将基准利率下调至4% 【全球央行动态】 ·中国人民银行部署2026年重点工作，要求灵活高效运用降准降息等多种货币政策工具，保持流动性充 裕。完善结构性货币政策工具体系。完善金融市场监测指标体系，探索开展金融市场宏观审慎管理。强 化金融市场监管执法，持续打击金融市场违法违规活动。加强对银行间债券市场、货币市场、外汇市 场、票据市场、黄金市场及有关衍生品的监管。强化虚拟货币监管，持续打击相关违法犯罪活动。 ·国家外汇管理局1月7日发布的最新统计数据显示，截至2025年12月末，我国外汇储备规模为33579亿美 元，较11月末增加115亿美元，增幅为0.34%，创10年新高；黄金储备规模为7415万盎司，环比增加3万 盎司，为连续第14个月增加。 ·美国明尼阿波利斯联储主席卡什卡利表示，目前美国利率水平可能已 ...

Group 1 - The People's Bank of China (PBOC) conducted a 7-day reverse repurchase operation of 861 billion yuan at an interest rate of 1.40%, maintaining the previous level, resulting in a net injection of 361 billion yuan after 500 billion yuan of reverse repos matured [1] - In the previous week, the PBOC had a net withdrawal of 16,550 billion yuan through reverse repos, indicating a significant tightening of liquidity, while the government debt repayment pressure increased [1] - The overall liquidity environment remains loose, supported by prior fiscal spending and a decrease in funding demand post-year-end, with overnight funding rates stabilizing around 1.33% [1] Group 2 - The upcoming week (January 12-16) will see a decrease in the 7-day reverse repo maturity scale to 1,387 billion yuan, with government debt net repayment dropping to -531 billion yuan, suggesting limited external disturbances to the funding environment [2] - Analysts expect the funding environment to remain stable and loose, with overnight funding rates fluctuating around 1.35% and 7-day rates around 1.50% [2] - A significant 6-month reverse repo of 6,000 billion yuan is set to mature, and the PBOC is likely to maintain incremental renewals to alleviate funding pressure as the tax period approaches [2] Group 3 - The PBOC's recent work meeting emphasized the importance of maintaining a moderately loose monetary policy to promote high-quality economic development and reasonable price recovery [3] - The meeting highlighted the flexible and efficient use of various monetary policy tools, including interest rate cuts, to ensure ample liquidity and support balanced credit growth [3][4] - Changes in policy goals were noted, shifting from "stable with a decrease" in financing costs to "operating at a low level," indicating a stronger commitment to supporting economic stability and price recovery [3][4]

Core Viewpoint - The international spot gold price experienced a significant increase of 4.10% last week, closing at $4,510.26 per ounce, driven by geopolitical risks and changing expectations regarding the Federal Reserve's monetary policy [1][5]. Geopolitical Risks vs. Commodity Index Rebalancing - Geopolitical tensions, particularly in Iran, and the rebalancing of commodity indices were the two main themes affecting the precious metals market last week [2]. - Protests in Iran against rising prices and currency devaluation have led to unrest, with threats from U.S. President Trump to intervene, further escalating tensions [3]. - The U.S. government's renewed interest in Greenland has drawn international criticism, particularly from Denmark and other European nations, highlighting the geopolitical landscape's impact on market sentiment [3]. Market Sentiment and Technical Analysis - The influx of "safe-haven" funds remains a key factor supporting the rise in gold prices amid ongoing geopolitical headlines [4]. - Despite potential selling pressure from the rebalancing of major commodity indices, the focus may shift back to structural factors that drove price increases last year once this process concludes [4]. - The market sentiment is optimistic, with expectations of a breakthrough in gold prices, as indicated by the recent Kitco News survey showing a bullish consensus among Wall Street analysts [6][7]. Economic Indicators and Federal Reserve Commentary - The U.S. ISM manufacturing report indicated strong economic conditions, temporarily dampening expectations for a rate cut by the Federal Reserve, but this sentiment quickly reversed following a disappointing non-farm payroll report [5]. - Upcoming inflation data, particularly the Consumer Price Index (CPI) for December, is anticipated to significantly influence market sentiment and gold prices in the coming week [5]. - The Federal Reserve's officials are expected to provide insights on interest rate changes, which could further impact market dynamics [5]. Price Levels and Projections - Technical analysis suggests that gold prices have stabilized above the $4,500 per ounce mark, with short-term resistance at $4,550 and potential targets of $4,630 to $4,700 [7]. - Domestic gold prices face short-term resistance in the range of 108-1038 CNY per gram, with mid-term targets pointing towards 1100-1200 CNY per gram [8]. - Silver prices are projected to face short-term resistance at $81-$85 per ounce, with mid-term targets of $99-$102 per ounce [8].

福建华亚集团总经理许威表示，未来，新金山特钢将借鉴成都博川钢贸产业园的成功经验，将企业转型 升级为"新金山综合商贸产业园"，依托区位优势，打造辐射本地及周边省份的综合商贸平台，继续为地 方经济贡献积极力量。 山西新金山特钢有限公司（以下简称"新金山"）是福建华亚集团旗下一家主营钢铁冶炼的民营企业，其 控股股东勇于担责，积极处置企业运营难题，使企业重新展现经营活力。 新金山特钢成立于2003年，曾于2019年至2021年连续入选"山西民营企业百强榜单"。据介绍，该企业自 2023年底处于停产状态。 福建华亚集团总经理许威表示，控股股东福建华亚集团主动担负遗留难题处置责任，将难题一一解决。 陆续向2300余名员工偿付工资及补偿金总计超9000万元，处理土地费用约2000万元，积极应对解决60余 起案件，并化解9000余万元巨额债务，化解虚假舆情，消除不良影响。从通过法律程序定分止争，到主 动承担巨额资金积极善后，展现了控股股东华亚集团在遭遇重大经营危机后，积极寻求以法律手段维护 企业合法权益的决心。 新金山特钢的经历也为民营企业运营发展与权益维护提供了可借鉴的案例，即如何在快速发展中建立权 责清晰、有效制衡的内部 ...

黄金大涨背后主要受到两方面因素推动，一是近期全球地缘冲突频发，避险资金或涌向黄金，二是美联 储独立性危机仍在发酵。 新华财经上海1月12日电（葛佳明） 全球金融市场的避险情绪正同时受到伊朗最新局势不确定性以及美 联储相关司法争议的影响。1月12日早盘，伦敦现货黄金价格一度突破4600美元／盎司，最高达到 4600.79美元／盎司，再创历史新高。伦敦现货白银涨近5%，逼近84美元／盎司，创下历史新高。 在王彦青看来，当前信用货币体系的动摇是支撑贵金属上涨的核心原因。一方面从美国内部看，美国总 统特朗普与美联储之间的争端正持续削弱美元的信用。美联储独立性的动摇叠加美国财政与政府债务扩 张加速均推动了去美元化的进程；另一方面从全球来看，大国博弈逐渐白热化，国家之间不信任的增 加，亦推动去美元化进程。 "前期芝商所（CME）两度上调白银保证金、以及年初大宗商品指数再平衡，被动基金短期集中抛售部 分黄金和白银，导致白银价格波动加大。"东海期货宏观研究员明道雨直言。 对于贵金属后续走势，明道雨认为，短期地缘因素是驱动黄金价格上涨的主要推动力，维持黄金价格继 续上行的观点。美元信用下降、全球央行购金是主导黄金长期上涨趋势的 ...

Core Viewpoint - Shanxi Huayang Group aims to fully implement the "one lane, one belt" transportation model across all its mining faces by the end of 2025, enhancing efficiency and reducing costs significantly [1]. Group 1: Implementation of the Transportation Model - The "one lane, one belt" model replaces the traditional segmented transportation method, allowing for a single long-distance conveyor in each lane, which eliminates the need for transfer points and addresses issues of low efficiency, high maintenance costs, and excessive staffing [1]. - The implementation of this model is expected to improve operational efficiency by 80% and reduce energy consumption by 75%, while also enhancing safety and the integrity of coal blocks [1]. - Each eliminated conveyor can reduce the need for three workers, saving approximately 540,000 yuan annually in labor costs, aligning with the company's strategy of "fewer workers for safety, quality improvement, and efficiency enhancement" [1]. Group 2: Technical Innovations and Adaptations - Huayang Group's mining unit has adopted a head drive and mid-drive installation scheme for its 2500-meter long ventilation lane, ensuring efficient operation through synchronized control of variable frequency motors [2]. - The company has also innovated by creating a simple yet effective belt pressure device using idle materials to address issues of belt deviation and instability in uneven lanes, significantly improving production efficiency [2]. Group 3: Future Goals and Strategic Focus - With the comprehensive coverage of the "one lane, one belt" model, Huayang Group is progressing towards centralized transportation, intelligent equipment, and maximizing safety benefits [3]. - The company plans to consolidate existing achievements and address production challenges by focusing on equipment investment, quality control, and efficiency enhancement, thereby driving high-quality development in coal mining [3].

Group 1 - The core viewpoint emphasizes accelerating high-level technological self-reliance and strengthening the integration of technological and industrial innovation to enhance the capacity for industrial technological innovation and generate new productive forces [1] Group 2 - The first step involves systematically increasing the supply of high-quality technology by planning national major science and technology projects and promoting the reconstruction of industrial foundations and major technological equipment projects [1] - The second step focuses on continuously reinforcing the role of enterprises as the main body of technological innovation by implementing policies such as R&D expense deductions and supporting the high-quality development of specialized and innovative small and medium-sized enterprises [1] - The third step aims to accelerate the smooth transformation of technological achievements by constructing a national pilot service network for manufacturing and enhancing technical support services such as measurement, standards, and intellectual property [1] Group 3 - The fourth step is to optimize the innovation ecosystem by strengthening inter-departmental collaboration and promoting the aggregation of smart and green technologies and technology services to enterprises [2] - The implementation of a manufacturing talent support plan and the establishment of excellent engineer training bases are also highlighted [2] - The use of integrated technology and finance initiatives, along with national industry-finance cooperation platforms, is encouraged to invest early, small, long-term, and in hard technology [2]

"重点"是要激活智能化引擎。智能化是当前两化融合最主要的推力。我们将深入实施"人工智能+制 造"专项行动，统筹布局通用大模型和行业大模型，培育一批重点行业智能体、智能原生企业；加快制 造业智能化升级，广泛挖掘人工智能应用场景，以万千"小场景"汇聚形成融合"大场面"，为推动制造业 高质量发展注入强大动力。 资讯编辑：刘佳惠 021-26093916 资讯监督：乐卫扬 021-26093827 资讯投诉：陈跃进 021-26093100 免责声明：Mysteel发布的原创及转载内容，仅供客户参考，不作为决策建议。原创内容版权归Mysteel所有，转载需取得Mysteel书面授 权，且Mysteel保留对任何侵权行为和有悖原创内容原意的引用行为进行追究的权利。转载内容来源于网络，目的在于传递更多信息，方 便学习与交流，并不代表Mysteel赞同其观点及对其真实性、完整性负责。 "首先"是要筑牢数字化基础。一方面要牵住工业数据这个"牛鼻子"，我们将启动工业数据筑基行动，建 设一批高质量行业数据集，壮大数据咨询、数据标注等经营主体。另一方面要加快制造业数字化转型， 推动规上企业"应转尽转"，深化中小企业数字化转型赋能专 ...

Core Viewpoint - The Ministry of Industry and Information Technology emphasizes that China's industrial economy will maintain stable growth in 2026 through innovation, reform, and leveraging existing advantages despite facing risks and challenges [1][2]. Group 1: Stability - The focus will be on stabilizing growth in key industries and regions, which account for 80% of the total industrial output value. The government plans to implement growth support plans for ten key industries, including steel, non-ferrous metals, and petrochemicals [1]. - Support will be provided to major industrial provinces to enhance policy support and resource guarantees [1]. Group 2: Expansion - Efforts will be made to expand effective demand by improving supply-demand matching and promoting flexible manufacturing. The application of new technologies, such as artificial intelligence, will be accelerated [1]. - The government will initiate major engineering projects and strengthen the coordination of industrial and trade policies [1]. Group 3: Innovation - The focus will be on promoting value creation and quality improvement through the revitalization of traditional industries and the development of emerging industries [1]. - Major technological transformation and upgrading projects will be advanced, with an emphasis on standards, quality enhancement, and brand building [1]. Group 4: Growth - The government aims to enhance the vitality of business entities by establishing a nurturing system for quality enterprises and improving cash flow for small and medium-sized enterprises [2]. - There will be a focus on monitoring and managing production capacity in key industries to consolidate the achievements of competition regulation [2].