【导读】长城证券（002939）完成核心高管调整，周钟山正式出任总裁 1月16日晚间，长城证券公告称，公司董事会正式聘任周钟山为公司总裁、财务负责人，同时聘任阮惠仙为董事会秘书。代行总裁职责六个月后，周钟山 获正式任命。 两人均深耕行业超二十年 周钟山为长城证券"元老级"员工，出生于1974年1月，1998年2月加入长城证券后深耕行业28年，履历覆盖基层经营与总部管理岗位。 公告显示，周钟山历任南昌营业部总经理、南昌分公司（筹）负责人、江西分公司总经理、经纪业务总部总经理、规划发展部总经理、公司战略执行总 监、副总裁、董事会秘书等职务，曾兼任深圳市长城长富投资管理有限公司董事、长证国际金融有限公司董事。 此次履新后，周钟山将同时统筹公司经营管理与财务核心工作，其原任的副总裁、董事会秘书职务被同步解聘。长城证券表示，将按照《证券法》及相关 监管要求，为周钟山办理证券公司高级管理人员任职备案手续，任期自本次董事会会议审议通过之日起至本届董事会换届之日止。 与周钟山同步履新的阮惠仙，同样为长城证券内部成长起来的核心骨干，自2003年7月参加工作起便加入长城证券，至今供职已有23年。简历显示，阮惠 仙此前历任苏州营业 ...

来源：新黄河、羊城晚报 西贝贾国龙与罗永浩线上之争持续受到关注。 1月16日21时50分许，新黄河记者从知情人士处确认，@罗永浩的十字路口以及@西贝贾国龙两个账号均被禁言。 随后，新浪微博CEO王高飞通过个人微博@来去之间发布最新消息：以后想论战，应该还是需要通过媒体采访的方式来进行。 王高飞晒出了中央网信办发布的《关于规范网络名人账号行为管理的通知》，在网络名人账号行为负面清单中，第八条为："组织约架论战。因个人争端 和利益冲突等原因，策划或组织网上论战骂战、线下约架，攻击竞争对手，挑起网络戾气，占用公共资源。" 1月16日晚，在贾国龙发表相关公开信后，罗永浩在朋友圈最新发文，"好吧，他赢了。闹腾了一天，终于可以忙正事去了。" （文章来源：中国基金报） ...

Group 1 - The online dispute between Jia Guolong and Luo Yonghao has attracted significant attention, culminating in both accounts being silenced on Weibo [1][2] - Weibo CEO Wang Gaofei announced that future disputes should be addressed through media interviews, referencing a notice from the Central Cyberspace Administration of China regarding the management of internet celebrity accounts [3] - Following Jia Guolong's public statement, Luo Yonghao acknowledged the situation in a social media post, indicating a shift in focus to more serious matters [3]

Group 1 - Yuexiu Capital plans to reduce its stake in CITIC Securities by up to 1% of the total share capital, which is valued at over 4.1 billion RMB or 4.1 billion HKD based on current stock prices [2][5] - As of January 16, Yuexiu Capital holds a total of 1.266 billion shares in CITIC Securities, representing 8.54% of the total share capital, making it the second-largest shareholder [3][5] - The company will also use up to 1 billion RMB of its own funds to increase its stake in Beijing Enterprises Holdings through the Hong Kong Stock Connect [5] Group 2 - The recent changes in leadership at Yuexiu Capital include the resignation of Chairman Wang Shuhui and the election of Li Feng as the new chairman [6] - As of June 30, 2025, Yuexiu Capital's total assets are projected to be 212.24 billion RMB, with a net profit of 1.56 billion RMB for the first half of 2025 [6]

Group 1 - The State Council, led by Premier Li Qiang, is focusing on boosting consumer spending through various initiatives, including the implementation of a special action plan to enhance consumption and the cultivation of new growth points in service consumption [1][2] - The meeting emphasized the importance of integrating policies to effectively enhance residents' consumption motivation and to leverage consumption as a fundamental driver of economic growth [2] - There is a commitment to accelerate the clearing of overdue payments owed to enterprises and to ensure the payment of wages to migrant workers, highlighting the significance of these issues for both corporate rights and public welfare [3] Group 2 - The meeting discussed the need to improve the long-term mechanisms for promoting consumption, including the development of a "14th Five-Year" plan for expanding consumption and urban and rural income increase plans [2] - Specific measures will be taken to address the issue of overdue payments, including the issuance of special bonds to support debt clearance and the implementation of a special action plan to combat wage arrears [3] - The meeting also reviewed and approved amendments to several administrative regulations, aiming to enhance the quality and effectiveness of government legislation [3]

【导读】涉嫌严重违纪违法，张国坤正接受上海市纪委监委纪律审查和监察调查 上海市现代农业投资发展集团有限公司党委书 记、董事长张国坤涉嫌严重违纪违法，目前正接受 上海市纪委监委纪律审查和监察调查。 2022年3月，上海市人民政府发布关于张国坤任职的通知，同意其任上海市现代农业投资发展集团有限公司董事长。 据"廉洁上海"1月16日晚消息，上海市现代农业投资发展集团有限公司党委书记、董事长张国坤涉嫌严重违纪违法，目前正接受上海市纪委监委纪律审查 和监察调查。 上海市现代农业投资发展集团有限公 司党委书记、董事长张国坤接受纪律 审查和监察调查 廉洁上海 2026年1月16日 19:28 上海 ○ 5人 1 15412 点击 ^ 蓝字 x 1127 权威发布 这意味着，张国坤此次被查，距离其担任上海市现代农业投资发展集团有限公司董事长一职不足4年。 简历资料显示，张国坤，男，汉族，1963年4月生，上海市人，1981年7月参加工作，中共党员，中央党校大学，工程师。历任青浦县（区）经济委员会党 工委书记、主任，青浦区练塘镇党委书记，崇明县委常委、副县长，闵行区委常委、副区长、区政府党组副书记等职。2016年7月任市委农办 ...

Core Viewpoint - The article emphasizes the importance of leveraging the unique advantages of the Guangdong-Hong Kong-Macao Greater Bay Area to seize new investment opportunities presented by the Belt and Road Initiative, especially in the context of the evolving global geopolitical landscape [1][3]. Investment Opportunities - Chinese enterprises are increasingly deepening investment cooperation with countries along the Belt and Road, with non-financial direct investments maintaining rapid growth [3]. - The investment direction of Chinese capital is shifting from traditional sectors like energy and infrastructure to emerging fields such as green energy, advanced manufacturing, digital economy, artificial intelligence, and life sciences [3][6]. - The asset management industry must adapt to a more complex market environment, requiring refined asset allocation across different countries, industries, and financial instruments [3][6]. Risk Management - The article identifies three main risks in cross-border asset allocation: 1. **Compliance Risk**: With tightening global financial regulations, asset management firms must maintain high compliance standards across different jurisdictions, necessitating a flexible and forward-looking compliance management framework [5]. 2. **Capital Risk**: Fluctuations in exchange rates, capital controls, and market liquidity can significantly impact investment returns, prompting the need for diversified asset allocation to mitigate single market risks [5]. 3. **Political and Regulatory Uncertainty**: Some Belt and Road countries present uncertainties in political environments, legal frameworks, and cultural contexts, requiring targeted due diligence and risk assessments [5]. Role of Hong Kong - Hong Kong serves as a "super connector" and "super value adder," linking domestic resources with international markets, thereby enhancing the Greater Bay Area's competitiveness in global resource allocation [6][7]. - Under the "One Country, Two Systems" framework, Hong Kong has established a common law system and international regulatory rules, making it a crucial international financial hub for Belt and Road investments [6]. Technological Innovation in the Greater Bay Area - The Greater Bay Area is positioned as one of China's three major international technology innovation centers, with the "14th Five-Year Plan" emphasizing its strategic role in the national innovation system [7]. - Investment opportunities in the Greater Bay Area are increasingly focused on strategic emerging industries such as artificial intelligence, life sciences, high-end manufacturing, new energy, and digital economy [7]. - Asset management firms are encouraged to shift from traditional short-term financial investments to a long-term investment logic that combines industry understanding with strategic allocation [7].

Core Insights - A significant competition for over 30 trillion yuan in maturing deposits has begun, with "fixed income +" becoming a favored choice for bank wealth management products [1][2] - Investors are showing a preference for low-volatility and stable financial products despite a recovery in equity markets and strong performance in assets like gold [1] - The bond market has experienced a notable shift in style, with the pricing power of 10-year government bonds transitioning from trading desks to banks [1][4] Group 1: Maturing Deposits - It is estimated that approximately 32 trillion yuan in two-year, three-year, and five-year fixed deposits will mature in 2026, with 20.7 trillion yuan, 9.6 trillion yuan, and 2.0 trillion yuan respectively [2] - The influx of maturing deposits is expected to create a demand for stable financial products, which banks are well-positioned to fulfill [2] Group 2: Investment Trends - The top 14 wealth management companies have seen a growth of nearly 4 trillion yuan in low-volatility, short-holding period open-end products in 2024, and over 3 trillion yuan in the first 11 months of 2025, accounting for nearly 90% of the overall growth in wealth management scale [3] - The average duration of fixed income products is expected to remain around 0.7 years, maintaining a stable market positioning [3] Group 3: "Fixed Income +" Strategy - The "fixed income +" fund category has experienced a remarkable growth rate of 39.5% year-on-year as of September 30, 2025, while pure bond funds have seen a decline of 10% [4] - The contribution of A-shares to the returns of "fixed income +" products exceeded 60% in the third quarter of 2025, with many products achieving significant excess returns [4][5] - The demand for 10-year government bonds from banks is acting as a stabilizing force in the market, leading to a trend of reduced volatility in government bond yields [4][5]

Core Viewpoint - The People's Bank of China (PBOC) and the Bank of Canada have renewed their bilateral currency swap agreement, which is set at 200 billion RMB and valid for five years, with the possibility of extension. This agreement aims to enhance financial cooperation between China and Canada, promote the use of local currencies, facilitate bilateral trade and investment, and maintain financial stability [1][4]. Group 1: Agreement Details - The renewed bilateral currency swap agreement has a scale of 200 billion RMB and is effective for five years, with the option for extension upon mutual agreement [1][4]. - The agreement allows either central bank to exchange a specified amount of their currency for an equivalent amount of the other currency under certain conditions, which can be used for trade settlement or to provide short-term liquidity support in financial markets [4]. Group 2: Broader Implications - The renewal of the currency swap agreement is expected to strengthen financial cooperation between China and Canada, expand the use of local currencies, and facilitate trade and investment [4]. - The leaders of China and Canada have welcomed the establishment of a financial working group to enhance communication on financial issues, which will report to the heads of the economic and financial strategic dialogue [4]. - The PBOC has signed a total of 32 effective swap agreements with various central banks globally, covering major economies across six continents, with a total scale of approximately 4.5 trillion RMB [5].

Core Viewpoint - The People's Bank of China (PBOC) and the Bank of Canada have renewed their bilateral currency swap agreement, with a scale of 200 billion RMB, effective for five years, which can be extended by mutual consent [1][3]. Group 1: Agreement Details - The renewed bilateral currency swap agreement aims to enhance financial cooperation between China and Canada, expand the use of local currencies, facilitate bilateral trade and investment, and maintain financial stability [3]. - The agreement allows either central bank to exchange a specified amount of their currency for an equivalent amount of the other currency under certain conditions, which can be used for trade settlement or to provide short-term liquidity support to financial markets [3]. Group 2: Historical Context and Future Plans - Since the 2008 global financial crisis, the PBOC has signed various bilateral currency swap agreements with foreign central banks, which have played a positive role in maintaining global financial stability and supporting trade and investment [3]. - As of October 2025, the PBOC has signed 32 effective swap agreements with central banks from major economies across six continents, totaling approximately 4.5 trillion RMB, with plans to further expand currency swap cooperation, particularly with countries closely linked to China's trade [4].