由三亚市人民政府主办，《财经》杂志、财经网、《财经智库》、三亚中央商务区管理局、三亚经济研究院 共同承办的"三亚·财经国际论坛暨第五届三亚财富管理大会"于12月27日在三亚举行，主题为"海南自贸港未来定 位及三亚新机遇"。 海南自由贸易港研究院副院长郭文芹在论坛上表示，封关运作是海南改革发展历史的重大标志性事件，是新 时代全面深化改革开放的重大突破。 在她看来，海南自由贸易港可以在中国-东盟经贸合作当中发挥战略枢纽作用：一是可以成为中国-东盟全面 战略合作的重要基地；二是可以成为中国和RCEP大市场的重要连接点；三是成为中国-东盟蓝色经济共同大市场 的战略平台。 郭文芹认为，按着总书记的要求，锚定战略目标不动摇，全面贯彻落实海南自由贸易港建设总体方案，深入 实施海南自由贸易港法，海南自由贸易港将成为开放热土、创业热土、创新热土。 以下为部分发言实录： 王延春：海南封关之后，如何建成中国重要的开放门户？ 郭文芹：总书记一再强调，建设海南自由贸易港的战略目标，就是要把海南自由贸易港打造成为引领我国新 时代对外开放的重要门户。可以说，封关运作是我国新时代全面深化改革开放重大的历史突破。 海南是我国最大的经济特区，从 ...

#小米联合创始人拟减持不超20亿美元#【小米集团：公司联合创始人林斌计划每12个月出售金额不超过 5亿美元的公司B类普通股】小米集团公告，公司联合创始人、执行董事、副董事长林斌计划自2026年 12月开始，每12个月出售金额不超过5亿美元的公司B类普通股，累计出售总金额不超过20亿美元。林 斌表示对集团业务前景充满信心并将长期服务于集团。林斌减持计划所得款项主要用于成立投资基金公 司。（智通财经） ...

Core Viewpoint - In 2026, Kweichow Moutai plans to reduce the supply of high-value-added products and will stop using the distribution model, aiming to stabilize product prices and increase the market share of its regular Moutai products [1] Group 1: Product Strategy - The company will appropriately reduce the supply of high-value-added products, including a cut in the production of zodiac Moutai and a complete halt on the supply of rare Moutai [1] - The focus will shift towards increasing the market share of regular Moutai products [1] Group 2: Distribution Model - Kweichow Moutai will no longer use the distribution model starting in 2026, which previously allowed distributors to purchase products at approximately 90% of the suggested retail price [1] - The decision to stop the distribution model is influenced by the significant price discrepancies between non-standard Moutai products and their suggested retail prices, which have led to losses for some distributors [1] Group 3: Pricing Strategy - The company plans to adjust product prices according to market conditions in the coming year, with an emphasis on stabilizing prices [1]

Core Viewpoint - Xiwanda (300207.SZ) announced that its subsidiary, Xiwanda Power, is facing a lawsuit from Weirui Electric Vehicle Technology (Ningbo) Co., Ltd. for quality issues related to battery cells delivered between June 2021 and December 2023, with claims exceeding 2.3 billion yuan [1] Group 1 - Weirui Power, established in 2017, has major shareholders from the Geely group, including Zeekr and Geely Auto [1] - The collaboration between Geely and Xiwanda Power began in April 2021, when Xiwanda received a letter of intent for the development of battery cells for the PMA platform project [1] - The PMA platform, developed jointly by Geely and Volvo, is a modular architecture for pure electric vehicles, utilized in brands such as Zeekr, smart, Volvo, and Geely Geometry [1]

Core Viewpoint - The Shanghai Second Intermediate People's Court has announced an auction for 70% equity of Shanghai Wanda Microfinance Co., Ltd., owned by Dalian Wanda Group, with a starting price of approximately 5.1 billion yuan and an assessed value of over 7.3 billion yuan [1]. Group 1: Auction Details - The auction will take place from January 29 to February 1, 2026 [1]. - The assessed value of the equity is approximately 7.3 billion yuan, while the starting bid is set at around 5.1 billion yuan [1]. - Dalian Wanda Group has been executed for over 12 billion yuan in previous cases [1]. Group 2: Company Information - Dalian Wanda Group was established in September 1992, with a registered capital of 1 billion yuan [1]. - Wang Jianlin serves as the legal representative and chairman, holding 98% of the beneficial shares [1]. - Shanghai Wanda Microfinance Co., Ltd. has a registered capital of 105 million yuan and was established on January 26, 2016 [2]. Group 3: Legal and Financial Context - The auction is a result of judicial decisions, with the rights to the equity being frozen by the court [2]. - The auction is based on an asset-based valuation method, with the evaluation date set for December 31, 2024 [2][3]. - The auction is part of a larger execution case involving multiple entities, including Wanda Group and its subsidiaries [4].

Core Viewpoint - The "2025 Sanya Financial International Forum and the Fifth Sanya Wealth Management Conference" focuses on the future positioning of Hainan Free Trade Port and new opportunities in Sanya, amidst a complex global economic environment and China's structural transformation towards high-quality development [1][4]. Group 1: Event Overview - The forum is co-hosted by the Sanya Municipal Government, Caijing Magazine, Caijing.com, Caijing Think Tank, Sanya Central Business District Management Bureau, and Sanya Economic Research Institute [1]. - This event marks the first appearance of Caijing after joining the CITIC Group, highlighting the group's support for the forum [3][4]. Group 2: Economic Context - The global economy is currently in an adjustment cycle with increasing uncertainty, while China is focusing on balancing growth stabilization, risk prevention, and transformation promotion [4][5]. - The official launch of the Hainan Free Trade Port's full island closure operation on December 18, 2025, signifies a critical milestone in China's high-level opening-up process [5]. Group 3: Sanya's Role - Sanya is becoming increasingly important as a key functional area in the Hainan Free Trade Port, focusing on modern services and financial elements [5]. - The Sanya Wealth Management Conference has evolved over five years to address how finance can better serve the real economy and manage risks under open conditions [5][6]. Group 4: Future Discussions - The forum aims to explore deeper discussions on financial functions, wealth management, offshore trade, and cross-border investment under the new operational framework of the free trade port [6].

由三亚市人民政府主办，《财经》杂志、财经网、《财经智库》、三亚中央商务区管理局、三亚经济研 究院承办的"三亚·财经国际论坛暨第五届三亚财富管理大会"12月27日在海南三亚举行，主题为"海南自 贸港未来定位及三亚新机遇"。 海南大谷国际园区董事长张焱在论坛上表示，金融业是 高强度、高资本、高税收、高人才 的行业，政 策哪里有"洼地"，企业就会流向哪里。 海南大谷国际园区董事长 张焱 张焱在论坛发言中围绕海南自贸港发展背景，重点分享了金融聚集区建设、实体产业机遇及财富管理三 大主题。他回顾了亚太金融小镇自2017年以来的发展历程，指出2020年6月《海南自贸港总体方案》发 布后，双15%税收等政策红利迅速吸引企业涌入，推动三亚中央商务区等园区形成金融聚集效应。 金融创新方面，海南在QDLP（合格境内有限合伙人）、QFLP（合格境外有限合伙人）及ODI（境外直 接投资）等领域已实现开放突破，未来或可探索与香港在稳定币等前沿领域的合作。此外，人才配套措 施如安居房、医疗与教育资源完善，为金融人才落地提供了支撑。 主持并发言：肖 耿，香港中文大学（深圳）公共政策学院副院长、香港国际金融学会主席 主持人：我们有三位重量级 ...

Core Viewpoint - The forum highlighted the theme of "Future Positioning of Hainan Free Trade Port and New Opportunities in Sanya," emphasizing the need for Chinese enterprises, especially private ones, to confidently expand into international markets while navigating the complexities of U.S. capital markets [1][2]. Group 1: U.S. Capital Market Dynamics - The U.S. regulatory environment remains relatively open and welcoming to Chinese enterprises, with over 60 companies listed in the U.S. this year, marking a new high [4]. - The demand for Chinese companies to list and raise funds in the U.S. is still strong, despite a cautious and somewhat hungry attitude from U.S. investors towards Chinese assets [4][5]. - In 2025, it is projected that 69 Chinese companies will go public in the U.S., a 7.2% increase from 2024, with a total IPO fundraising amount of $1.42 billion, primarily in sectors like smart technology, healthcare, and new energy [3][4]. Group 2: Challenges for Small Enterprises - Approximately 70% of the 69 companies expected to list in 2025 will raise less than $10 million, with only 4% expected to exceed $100 million in fundraising [4]. - Small enterprises are increasingly finding it difficult to meet the heightened standards set by the U.S. Securities and Exchange Commission for listing, making it less feasible for them to enter the U.S. market [5][6]. - Traditional industries lacking innovation or new business models may struggle to gain recognition in the U.S. capital market, which favors innovative or asset-light companies [5][6]. Group 3: Strategic Outlook for Chinese Enterprises - Internationally-oriented enterprises must pursue opportunities in international capital markets to thrive, as the domestic market becomes saturated [5][6]. - The forum discussed the potential for Hainan to attract global capital and become a financial hub comparable to major centers like Hong Kong, New York, and London, emphasizing the importance of capital market openness [7][8]. - Despite geopolitical tensions, the necessity for Chinese enterprises to engage with U.S. markets remains, as many high-quality clients still come from the U.S. [8][9].

Core Viewpoint - The wealth management industry in China is transitioning from a single product sales model to a diversified, solution-oriented service model, driven by the increasing complexity of investment needs and the introduction of new financial products [1][3]. Group 1: Industry Trends - The variety of cross-border investment tools in China, such as QD funds and cross-border ETFs, is expanding, providing domestic investors with more diverse allocation options [1][3]. - The domestic fixed income asset yields are gradually declining, making it challenging for traditional fixed income products to meet long-term wealth goals like retirement and education [1][3]. - Global technological innovations, particularly in AI, large models, and renewable energy, are driving economic growth, presenting new investment opportunities [1][3][10]. Group 2: Wealth Management Strategies - Wealth management should not be limited to selling single fund products; it should offer diversified solutions based on individual life cycles and specific wealth planning needs [3][11]. - The introduction of more diversified investment tools is necessary for the domestic wealth management industry to adapt to changing market conditions [3][11]. - The role of gold as a capital preservation asset is increasing, potentially serving a function similar to fixed income assets in the future [3][11]. Group 3: Opportunities in Hainan - Hainan's policy of closing its borders is expected to create a significant platform for cross-border asset allocation, allowing for the introduction of overseas financial products that meet risk profiles [3][12]. - The unique natural environment and service industry foundation in Hainan are likely to attract a large number of retirees, creating new demands for retirement finance and wealth planning [3][12][13]. - The next three to five years will see the wealth management industry continue to evolve towards a client-centric, advisory service-oriented model, with Hainan playing a crucial role in enhancing financial tool supply and account flexibility [3][12][16].

由三亚市人民政府主办，《财经》杂志、财经网、《财经智库》、三亚中央商务区管理局、三亚经 济研究院共同承办的"三亚·财经国际论坛暨第五届三亚财富管理大会"于12月27日在三亚举行，主题 为"海南自贸港未来定位及三亚新机遇"。 著名经济学家魏杰在论坛上表示，推动制度型开放，形成高质量的开放新格局，是"十五五"时期开 放的重点。 他认为，具体有三个特点：一是按照全球化的要求，深化改革中国经济的体制，形成适应全球化和 多边主义的经济体系；二是推动贸易与投资相结合；三是调整出口格局，不能过度依赖出口的增长空 间，尤其不能追求过大的顺差规模。 对于如何平衡顺差规模，魏杰建议："一是减少不必要的出口，比如高污染的不能搞，一些企业完 全靠出口退税盈利也不行；二是适当减少单纯依靠价格竞争的出口，因为对方会用对等关税对抗你。" 在他看来，进口是重要的战略工具，但要保持一个适当的顺差规模，"现在很多西方国家想用垄断 制裁我们，但是中国占了40%的进口市场份额，最后他们迫不得已妥协。所以不要单纯讲出口，我们还 有进口的王牌"。 著名经济学家魏杰 以下为部分发言实录： 魏杰：非常高兴来参加这次论坛！因为这次论坛的主题是开放，而且再过四 ...