消息面上，中国人民银行于5日以固定数量、利率招标、多重价位中标方式开展1万亿元买断式逆回购操 作，期限为3个月（91天）。鉴于月内将有同等规模的3个月期品种到期，本次操作后将实现3个月期买 断式逆回购等量续作。 华西证券认为，从近期操作看，已公布的12月3个月期买断式逆回购继续等额续作（投放与当日到期均 为1万亿元），参考11月续作结果，此举或并不代表央行投放力度缩减，而是更多反映了央行对资金投 放期限结构的调整，预计后续6M期将延续加量续作，以维护跨年流动性合理充裕。 天风证券也表示，综合9月、11月资金面表现来看，买断式逆回购等量续作或反映月初银行通过买断式 逆回购补充流动性的意愿不高，更倾向于等待月中、月末等流动性需求更为明晰的时点进行主动管理。 天风证券指出，上周DR001下破1.3%创下新低，显示央行在跨年期间对资金面的呵护意图，但这并非货 币政策进一步宽松的信号，需关注资金防空转诉求，下破1.3%状态可能非常态。与DR001下破1.3%并 存的是两个现象：金融时报刊文提及"收短放长"的央行流动性组合拳；11月国债净买入规模不及市场预 期。自6月以来，资金利率处于低位低波状态，但上周首次打破1.3% ...

新华财经上海12月8日电 华泰证券发表最新A股策略观点认为，A股"春季躁动"可能提前启动。 转自：新华财经 华泰证券分析认为，上周A股继续缩量反弹。资金面，联储降息预期回暖和国内基本面定价有效性提升 共振下资金面环境有所改善，主动外资净流出规模收窄、ETF发行和申购回暖，保险风险因子下调或进 一步打开险资配置权益资产空间。景气度，近期TMT、上游资源景气改善幅度居前，关注AI链、涨价 链、资本品、大众消费品和基建链等线索。中央经济会议前政策预期或逐步升温，12月中下旬"春躁"可 能提前启动，均衡配置成长和周期，中期视角下大金融和部分高性价比消费或仍是中国资产重估的底仓 选择。 编辑：林郑宏 ...

转自：新华财经 在近日于海南博鳌举办的2025企业家博鳌论坛期间，以"信用赋能品牌'新三化'"为主题的2025品牌信用建设论坛成功举 行。论坛聚焦智能化、绿色化、融合化发展方向，发布了一批具有代表性的"新质生产力品牌创新实践成果"。平安健 康互联网股份有限公司（简称"平安好医生"）凭借在"人工智能+医疗健康"领域的创新探索与实践成效，入选该成果榜 单。 与会专家表示，信用体系是智能化发展中培育新质生产力的重要基石，需推动数字技术与信用建设深度融合，以科技 赋能行业升级，以规范护航创新实践。此次入选案例体现了企业在技术应用、服务提升与治理优化方面的积极探索。 专家认为，人工智能与实体经济深度融合是发展新质生产力的关键路径。在医疗健康等领域，推动技术合规应用、构 建可信赖的服务体系，是实现行业高质量发展、更好满足民生需求的重要举措。相关实践也为"人工智能+"在更广泛民 生领域的推广应用提供了有益参考。 此次入选，标志着以平安好医生为代表的企业在"AI+医疗"领域的实践获权威认可。该类创新探索有助于推动行业整体 服务标准提升与技术规范化发展，为医疗健康产业数字化转型与高质量发展提供实践参考，进一步助力新质生产力在 ...

Core Viewpoint - The traditional Chinese medicine industry is experiencing structural growth opportunities due to accelerated population aging and increasing health awareness among the public [1][3]. Group 1: Market Context - The prevalence of sub-health conditions such as insomnia, anxiety, forgetfulness, and palpitations is rising, making "nourishing the heart and calming the mind" a significant growth point in the health market [3]. - Over 300 million people in China suffer from sleep disorders, with a notable increase among the elderly population [3]. Group 2: Product Launch - The company has launched a new product, the "Renrong Anshen Wan," which targets heart and brain health, expanding its product matrix in the health sector [1][4]. - The formulation includes key ingredients like red ginseng and deer antler, along with other traditional herbs, adhering to traditional Chinese medicine principles [3]. Group 3: Quality Assurance - The company emphasizes high-quality raw materials, sourcing red ginseng from Jilin and deer antler from regulated farms, ensuring the purity and stability of active ingredients [3]. - Production follows national GMP standards and the company's high-quality management system [3]. Group 4: Market Performance - Since its launch, "Renrong Anshen Wan" has been well-received, particularly among the elderly and high-pressure working populations, with a steady increase in repurchase rates [4]. - The company ranks first in brand value among "Chinese Time-honored Brands" with a valuation of 43.739 billion yuan, reflecting strong market trust [4]. Group 5: Future Strategy - The launch of "Renrong Anshen Wan" is part of the company's broader strategy to deepen its presence in the health sector, focusing on creating safe, effective, and reliable health products [4].

Group 1 - Mergers and acquisitions (M&A) have become a key engine for driving technological innovation, industrial upgrading, and cultivating new productive forces in China [1] - The 2025 M&A Financial Conference will be held on December 8 in Shanghai, focusing on the theme "M&A Empowering Industrial Upgrading, Ecological Synergy Reshaping Momentum" [1] - The conference will release significant outcomes, including the "China M&A Comprehensive Index" and the "Action Plan for M&A Alliance Supporting Shanghai International Financial Center Construction" [1] Group 2 - China has introduced a series of supportive policies for capital market reform and M&A, including the new "National Nine Articles," "Science Eight Articles," and "M&A Six Articles" [2] - The Shanghai government has proactively developed the "Shanghai Action Plan for Supporting Listed Companies' M&A (2025-2027)" to accelerate the establishment of a global M&A center [2] - The conference will feature discussions on new experiences, trends, and outcomes in the M&A financial wave, focusing on the implementation of the "M&A Twelve Articles" [2] Group 3 - The "China M&A Comprehensive Index Report (2025)" will be released to objectively and accurately reflect the overall activity and development trends of the Chinese M&A market [3] - This report is the first to integrate data from capital market M&A, equity trading data from property rights exchanges, and private equity investment data, focusing on five core dimensions: activity, scale, efficiency, environment, and effectiveness [3] - The report will also introduce sub-indices for the Yangtze River Delta region and research-driven M&A, tracking the dynamics and structural characteristics of M&A under innovation [3] Group 4 - The M&A process requires deep collaboration among financial and professional service institutions and various industry chain participants to enhance synergy [4] - Shanghai Pudong Development Bank (SPDB) has been a pioneer in the domestic M&A financial sector since establishing a specialized M&A financial service team in 2005 [4] - SPDB has launched the "Puying M&A" super product and established a central M&A business center, aiming to become the preferred bank for M&A finance, with domestic and foreign M&A loan issuance exceeding 100 billion yuan in 2023 [4]

展望未来，坚定看好面板行业竞争格局良性化下的中长期逻辑，同时未来LCD行业利润释放的逻辑预计 将从主要依赖涨价驱动逐步转向更多的产业价值创造升级，主要体现在：大尺寸化推动供需平衡中枢持 续上行，成本端持续国产化降本，折旧迎来达峰退出，少数股东权益收回后归母贡献的增厚等，看好后 续龙头厂商业绩加速释放，同时建议关注低估值个股以及上游国产替代逻辑持续强化的关键环节（掩膜 板、玻璃基板、光学膜）等。 编辑：林郑宏 转自：新华财经 新华财经上海12月8日电 中信证券研报分析认为，短期来看，随着国产厂商年终补库，海外厂商在价格 具有相对性价比的位置针对26年赛事需求、促销等进行提前备货，年终电视面板需求相对旺盛，面板价 格有望迎来全面止跌，26年一季度有望迎来普涨，面板厂业绩趋势向好。 ...

Group 1 - The National Healthcare Security Administration and the Ministry of Human Resources and Social Security have issued the "National Basic Medical Insurance, Maternity Insurance, and Work Injury Insurance Drug Catalog" and the "Commercial Health Insurance Innovative Drug Catalog" to promote a multi-level medical security system and support the development of inclusive commercial health insurance [3][11] - In 2025, the National Medical Insurance Drug Catalog successfully added 114 new drugs, with 50 being Class I innovative drugs, achieving an overall success rate of 88%, an increase from 76% in 2024 [3][11] - The first version of the commercial health insurance innovative drug catalog includes 19 drugs, such as CAR-T for cancer treatment, drugs for neuroblastoma, Gaucher disease, and Alzheimer's disease [3][11] Group 2 - As of the end of November, China's foreign exchange reserves stood at $33,464 billion, an increase of $30 billion from the end of October, representing a growth rate of 0.09% [3][11] - China's gold reserves increased by 30,000 ounces to 74.12 million ounces, marking the People's Bank of China’s 13th consecutive month of gold accumulation [3][11] Group 3 - Baidu Group announced it is evaluating the potential spin-off and independent listing of its subsidiary Kunlun Chip (Beijing) Technology Co., amid market speculation [9][12]

2025年，"具身智能"首次写入政府工作报告。具身智能机器人加速迭代，逐步从生产车间步入生活场 景。根据《2025人形机器人与具身智能产业研究报告》，2025年中国具身智能市场规模预计达52.95亿 元，占全球约27％；人形机器人市场规模预计达82.39亿元，占全球约50％。 这只是一个缩影。回顾2025年，科技爆点、投融资热点、消费亮点……如同"活力拼图"上的璀璨星辰， 以"流量"汇聚激活发展增量。 ——科技爆点密集涌现，商业化进程持续加快。 转自：经济参考报 新华财经北京12月8日电（记者 班娟娟）回望2025年，面对国际风云变幻，中国坚定不移办好自己的 事，以高质量发展的确定性应对外部环境急剧变化的不确定性。 从热点赛道的"流量"汇聚，到产业链条的协同跃迁，再到区域协调的动能澎湃，中国经济以"点"筑基、 以"线"为脉、以"面"成势，拼接出一幅热点迸发、链脉强韧、全域共兴的"活力拼图"。 热点迸发："流量"汇聚激活发展增量 12月5日，四川成都。全国首个具身智能机器人生态平台核心载体——"机器人大世界"一期正式开门迎 客。这个集展示、销售、体验、服务于一体的"机器人4S店"，成为公众触摸"未来生活"的一扇 ...

Group 1 - The second China Respiratory Health Conference opened in Guangzhou, focusing on "Collaborative Innovation of Traditional and Western Medicine: Building a New Pattern of Respiratory Health" with over 2,000 experts and scholars in attendance [1] - The "2026 Respiratory Health Community" was established during the opening ceremony, with Tianyao Darentang being one of the first member units [3] - Tianyao Darentang, a traditional Chinese medicine company with a 500-year history, has a product portfolio of 599 drug approvals, including 122 exclusive varieties, covering various health areas [4] Group 2 - In the respiratory product line, Tianyao Darentang has 102 varieties, showcasing key products such as Qingyan Diban and Qingfei Xiaoyan Wan at the conference [5] - The company aims to protect and develop traditional Chinese medicine while promoting respiratory health, focusing on collaboration within the community to enhance innovation [5]

Core Viewpoint - The event organized by Industrial Bank's Urumqi branch, in collaboration with various public safety departments, aims to enhance public awareness of both traffic safety and financial risk prevention through a dual safety promotion model [1][2]. Group 1: Event Overview - A concentrated promotional activity focusing on traffic safety and financial security was held at the Urumqi International Grand Bazaar, attracting numerous tourists and merchants [1]. - The event was themed around "National Traffic Safety Day" and utilized a dual safety promotion model to raise public awareness [1]. Group 2: Activities and Engagement - The event featured various activities such as setting up promotional booths, distributing materials, and conducting face-to-face explanations to educate visitors and merchants about traffic regulations [1]. - Staff provided detailed explanations of common traffic violations, such as running red lights and failing to yield to pedestrians, advocating for the principle of "civilized travel, safety first" [1]. Group 3: Financial Safety Component - The bank integrated anti-money laundering and anti-fraud education into the event, analyzing prevalent telecom network fraud methods and characteristics of money laundering crimes [1]. - Practical tips were provided to the public on how to identify fraudulent information and protect personal financial security [1]. Group 4: Future Initiatives - The bank plans to continue deepening collaboration with public security agencies to normalize and sustain the dual safety promotion efforts [2]. - Future initiatives will include outreach to communities, financial institutions, and enterprises, aiming to enrich the forms and content of safety education [2].