新华财经北京1月19日电 2026年开年贵金属及有色金属市场行情以"开门红"姿态迅猛展开，不足半月便 上演了一轮波澜壮阔的普涨行情，价格突破与成交量放大形成共振，市场热度较往年同期显著升温。 值得注意的是，本轮金属开年行情在强势上涨中伴随显著波动特征。金价在突破关键关口后出现短期震 荡，有色金属市场也呈现类似态势，沪铝在创历史新高后当日便出现回调，反映出短期获利盘了结与长 期看好情绪的博弈。这种"快涨伴震荡"的走势，与历史上开年行情多为平稳爬坡的特征形成鲜明对比， 背后是资金快速涌入与基本面支撑的双重作用。美联储降息预期升温、地缘政治紧张推升避险情绪，叠 加新兴产业刚需增长，使得市场在短期内聚集大量资金，而散户投资者的活跃交易进一步放大了波动幅 度。 产业端的反应同样印证行情强度。开年以来矿业公司并购动作密集，盛达资源1月内连续完成两起矿山 收购，湖南黄金启动重大资产重组，洛阳钼业10.15亿美元收购海外金矿的交易持续推进，产业资本的 快速布局凸显对本轮行情持续性的认可。 对比分析来看，2026年贵金属和有色金属的上涨呈现"金融属性与工业属性共振"的独有特征。历史上开 年行情多由单一逻辑驱动，如2009年的政 ...

新华财经圣彼得堡1月19日电 根据俄罗斯汽车市场分析机构"机动车统计网"（Autostat）公布的数据， 2025年俄罗斯电动汽车市场共售出1.25万辆新车，销量与上年相比下降了30%。2024年的销量为1.78万 辆。 2025年在俄共售出449辆美国品牌"特斯拉"电动车，销量与2024年相比下降了34%。 （文章来源：新华财经） "机动车统计网"的负责人采利科夫在社交媒体上介绍说，俄电动车市场最受欢迎的品牌是中国产"极 氪"，但其销量与上年相比下滑了61%。销量排在第二位和第三位的是俄罗斯的品 牌"Evoluteh"和"Amberavto"。 中国品牌"比亚迪""小米"和"吉利"等在俄罗斯电动汽车市场也有不错的销量。采利科夫预测俄车市对这 些中国品牌的电动车需求将持续增长。 ...

·贝伦贝格银行：美国试图强购格陵兰打破关税缓和预期 ·西太平洋银行：地缘政治风险凸显美国庞大的国际净负债 ·贝伦贝格银行首席经济学家表示，美国政府试图强购格陵兰岛并威胁对英、法等八国加征关税，已打 破市场对2026年关税局势较2025年缓和的预期。此举可能适得其反，若美欧关税协议被废除，美国消费 者价格涨幅可能最多达0.15%，损失或更为严重。尽管全面贸易战的可能性依然较低，但市场仍需为更 多动荡做好准备。 ·盛宝金融策略师指出，美国总统就格陵兰岛问题对欧洲发出的关税威胁正被市场视为"双重冲击"。既 冲击经济增长，也冲击地缘政治与制度稳定。尽管避险情绪升温，美元却未走强，欧元反而坚挺，凸显 投资者担忧已超越传统贸易范畴。由于关税被广泛用作各类谈判筹码，风险溢价更具粘性、更难对冲， 市场面临更广泛且不确定的潜在后果。 ·凯投宏观首席经济学家表示，美国总统以关税胁迫获取格陵兰岛的举动虽对经济直接影响有限，但政 治风险极高。若美国进一步采取武力或强制手段，恐引发跨大西洋关系破裂。尽管欧洲在贸易与防务等 领域展现妥协意愿，但格陵兰主权问题可能触及其不可逾越的"红线"，成为引爆更大地缘政治危机的导 火索。 ·西太平洋银 ...

| 名 称 | 价 格 | 单 位 | | --- | --- | --- | | 开 盘 | 81. 00 | 元/吨 | | 最高 | 81. 00 | 元/吨 | | 最 低 | 81. 00 | 元/吨 | | 收 盘 | 81. 00 | 元/吨 | | 涨幅 | 3.18% | | 今日全国碳排放配额总成交量146,947吨，总成交额11,618,813.00元。 2026年1月1日至1月19日，全国碳市场碳排放配额成交量7,794,645吨，成交额562,648,041.20元。 截至2026年1月19日，全国碳市场碳排放配额累计成交量872,661,165吨，累计成交额58,225,266,272.77元。 新华财经北京1月19日电据微信公众号"全国碳交易"，1月19日全国碳市场综合价格行情为开盘价81.00元／吨，最高价81.00元／吨，最低价81.00元／吨， 收盘价81.00元／吨，收盘价较前一日上涨3.18%。 今日挂牌协议交易成交量46,947吨，成交额3,718,813.00元；大宗协议交易成交量100,000吨，成交额7,900,000.00元；今日无单向竞价。 | 各年度 | ...

Core Insights - Traditional heavy-asset energy companies face challenges such as large investment scales, long recovery periods, and cash flow volatility. Beijing Energy Group has addressed these issues through asset securitization, specifically by issuing the China Aviation Beijing Energy Photovoltaic Closed-End Infrastructure Securities Investment Fund and the CICC-Beijing Energy International Energy Infrastructure Asset-Backed Special Plan, achieving goals of revitalizing existing assets, broadening financing channels, and optimizing cash flow structures [1][2]. Group 1: Asset Securitization and Innovation - The expansion of the China Aviation Beijing Energy Photovoltaic REIT, which includes hydropower projects, marks a significant innovation in asset securitization, creating a new avenue for capital market engagement in the context of China's dual carbon strategy [2][3]. - The "photovoltaic + hydropower" mixed issuance model provides a four-dimensional value proposition, including complementary power generation, risk diversification, enhanced returns, and upgraded financing [3][4]. - The issuance of public REITs allows companies to convert heavy assets into standardized, market-acceptable underlying assets, facilitating better cash flow management [4]. Group 2: Collaborative Efforts and Government Support - The successful expansion of the China Aviation Beijing Energy Photovoltaic REIT is attributed to strong support from local government, which plays a crucial role in optimizing capital structures and enhancing asset resilience [5][6]. - REITs enable a shift from reliance on incremental investments to activating existing assets, addressing the issue of dormant local assets and creating a sustainable capital loop [6][7]. - The focus on enhancing asset governance and compliance is essential for future asset revitalization, ensuring that all operational phases are well-managed [9]. Group 3: Future Outlook and Strategic Goals - The company aims to continue promoting REIT expansions, targeting a diversified platform that includes wind, solar, hydropower, and energy storage businesses, thereby contributing to the green transformation of the energy sector [8][10]. - The strategy emphasizes the importance of utilizing financial tools like REITs and ABS to activate quality cash-generating assets, facilitating effective investment and sustainable growth [10].

据上海海关统计，2025年，上海口岸自非洲进口农产品货值达100.3亿元人民币，比2024年增长25.3%。 整个"十四五"规划（2021年至2025年）期间，上海口岸累计进口非洲农产品392.1亿元，年均增长率达 10.9%。 （文章来源：新华财经） 新华财经上海1月19日电（记者吴宇）上海海关19日公布，一批来自乌干达的约11吨干辣椒，在上海口 岸查验合格完成通关。这是乌干达干辣椒获得中国市场准入后首次输华。 据介绍，这批乌干达干辣椒经海运从上海外高桥港区入境。上海海关关员抽取样品进行检验，确认这批 辣椒无虫害、无霉变、无杂质。 ...

Core Viewpoint - The bond market is experiencing fluctuations with a general trend of decline in government bond futures, while the central bank's monetary policy remains accommodative, supporting the bond market [1][2][8]. Market Performance - Government bond futures closed mostly lower, with the 30-year main contract down 0.22% at 110.92, and the 10-year main contract down 0.02% at 108.04 [2]. - The interbank bond yield for the 10-year government bond increased by 0.38 basis points to 1.9678%, while the yield for the 30-year government bond rose by 0.2 basis points to 2.303% [2]. Monetary Policy - The central bank announced a structural interest rate cut, reducing the re-lending and re-discount rates by 0.25 percentage points, with new rates set at 0.95%, 1.15%, and 1.25% for different terms [6]. - The central bank's actions reinforce a loose monetary policy stance, which is expected to support the bond market, particularly in the short term [1][8]. Funding Conditions - The central bank conducted a 7-day reverse repurchase operation with a net injection of 72.2 billion yuan, indicating a generally loose funding environment [5]. - Short-term Shibor rates mostly declined, with the overnight rate down 0.7 basis points to 1.318% [5]. Institutional Insights - Analysts from various institutions suggest that the central bank has room for further easing measures if economic conditions worsen, particularly if inflation pressures decrease [8]. - There is a belief that the short-term downward space for interest rates is limited, as market participants are gradually shifting their views towards a weaker bond market [8].

新华财经北京1月19日电上周（1月12日至16日当周）国际现货黄金震荡走高，当周上涨85.67美元或 1.9%，连续第二周收阳。 分析来看，随着围绕美联储独立性、关税走向及中东局势的不确定性升温，地缘紧张与美国国内政治动 荡交织，金银向上突破，再度刷新历史新高。 展望新的一周，特朗普有关关税和格陵兰岛等地缘局势的表态仍引发市场高度关注。此外，美国PCE数 据公布在即，美联储货币政策的动向也仍是贵金属市场的焦点。 地缘紧张与美国国内动荡，金银再创历史新高 俄乌冲突仍在延宕，美国在1月3日对委内瑞拉发起大规模军事行动之后近期又对伊朗频频发出威胁，加 上格陵兰岛局势，整体地缘局势呈现收紧状态。这推动上周一国际金银跳空高开，并在日内震荡走高。 地缘紧张局势无疑是导致避险资金持续流入贵金属并推高贵金属价格的重要原因。 地缘紧张与美国国内动荡使得贵金属市场获益明显。上周初，金价将历史高位刷新到4642.85美元／盎 司；白银表现更为亮眼，当周高点至93.70美元／盎司，年度累计涨幅达到近30%的水平。 戏剧性的是，上周后半周，地缘局势带来的利多突然发生变化。随着特朗普表态将对伊朗局势"拭目以 待"之后，地缘局势出现明显降 ...

Core Points - The Sci-Tech Innovation 50 Index opened lower on January 19, fluctuated, and ultimately closed down slightly at 1506.86 points, with a decline of 0.48% and a trading range of 1.48% [1] - The overall Sci-Tech Innovation Index also fell by 0.21%, closing at 1851.07 points, with a total trading volume of approximately 296.6 billion yuan [1] - Among the 600 stocks in the Sci-Tech Innovation Board, there were more decliners than gainers, with high-priced stocks mostly declining and low-priced stocks showing mixed performance [1] Trading Performance - The average increase for the 600 stocks on the Sci-Tech Innovation Board was 0.09%, with an average turnover rate of 3.69%, and a total trading volume of 296.6 billion yuan [1] - The average volatility for the stocks was 4.72% [1] Individual Stock Performance - Okoyi reached the daily limit, showing the highest increase [2] - Silin Jie experienced a significant drop of 16.37%, marking the largest decline [2] Trading Volume - Haiguang Information had the highest trading volume at 10.42 billion yuan [3] - ST Pava recorded the lowest trading volume at 1.024 million yuan [3] Turnover Rate - Xigao Institute had the highest turnover rate at 21.14% [4] - Longteng Optoelectronics had the lowest turnover rate at 0.2% [4]

上周（1月12日-16日）逆回购合计净投放8128亿元，央行于15日开展9000亿元6个月期买断式逆回购操 作。跨年后OMO大额净回笼和政府债缴款已使银行间水位大幅降低，而政府债缴款主要集中在周一， 而周二到期的买断式逆回购尚未续作，资金上半周边际收紧，但随着买断式回购落地后逐步转松。 此外，央行当日在新闻发布上宣布，下调再贷款、再贴现利率25BP，各类再贷款一年期利率降至 1.25%，其他期限档次利率同步调整。结构性工具额度层面，央行将支农支小贷贷款与再贴现打通使 用，增加支农支小再贷款额度5000亿元，并在支农支小再贷款项下设立民营企业再贷款，额度1万亿元 （新增5000亿元）；增加科技创新和技术改造再贷款额度4000亿元。 华西证券指出，结构性工具降息加量，使得春节前降息的可能性下降，不过降准仍有可能。降准更多是 补充中长期流动性，以及提振情绪，而降息直接拖累银行净息差，考虑到当前逆回购利率仅为1.4%， 显著低于2%通胀目标，利率下调的空间仍然存在，但可能已经不大，预计降息相比降准更为慎重。 新华财经北京1月19日电人民银行19日开展1583亿元7天期逆回购操作，操作利率为1.40%，与此前持 平；鉴 ...