转自：新华财经 政策与平台协同 构建普惠促消费新机制 今年9月1日，国家消费贷款贴息政策在京东平台正式上线，以"国家贴息"标识直观呈现。用户在京东购 买带有此标识的商品，使用京东白条支付，可享受合作金融机构提供的利息补贴，补贴金额在付款时自 动扣减，无需任何额外操作。活动规则显示，单笔消费5万元以下最高可享1%的年贴息比例，5万元以 上最高贴息500元，单个用户累计贴息额度最高达3000元。 更具特色的是，京东将"国家贴息"与平台既有的"国家补贴"、"白条分期免息"等多重优惠打通，形成 了"政策红利+平台让利"的叠加效应。京东科技白条产品相关负责人表示，"我们希望消费者既能享受消 费贴息，又能拿到政策补贴、享受白条免息，实现'更方便、更划算'的双重体验。我们的目标是改变用 户'补贴只是一时促销'的认知，把优惠变成可持续的普惠服务。" 多位行业观察人士指出，这种"政策引导、平台承接、生态协同"的模式，使得宏观政策能够通过大型互 联网平台的技术与场景优势，得以高效、精准、无感地触达亿级消费者。截至目前，"国家贴息"已覆盖 京东商城超过90%的商品，初步实现了政策广覆盖与消费便利性的统一。 分析认为，中央经济工作会 ...

Core Viewpoint - The Hong Kong Stock Exchange welcomed four companies, including Impression Dahongpao Co., Ltd., Huashan Biotechnology (Qingdao) Co., Ltd., Mingki Hospital Group Co., Ltd., and Nanhua Futures Co., Ltd., to list simultaneously, showcasing the growing interest in the market [1] Group 1: Company Listings - Impression Dahongpao issued 36.1 million shares at an offering price of HKD 3.6 per share, raising approximately HKD 130 million, which will be used for upgrading its signature performance and expanding its business influence [1] - Huashan Biotechnology offered around 17.65 million shares at an issue price of HKD 38.2 per share, raising about HKD 670 million, aimed at supporting the clinical development and commercialization of its products [1] Group 2: Role of Huafu International - Huafu International acted as the joint bookrunner and lead underwriter for the successful issuance of Impression Dahongpao and Huashan Biotechnology, highlighting its cross-border service capabilities and professional execution as a Chinese securities firm in Hong Kong [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 转自：新华财经 在财富管理行业向买方投顾模式深度转型的背景下，证券公司如何重塑服务逻辑、构建以客户为中心的 核心能力，成为决定未来竞争力的关键。国元证券执行委员会委员、副总裁梁化彬近日接受新华财经专 访时，全面阐述了公司在买方投顾转型过程中的战略抉择、系统实践与未来规划。 在系统建设方面，国元证券正系统谋划通过平台开展投顾服务。公司研投顾中心作为智慧中枢，负责输 出大类资产配置观点。观点传导至投研策略平台，驱动产品研究团队在全市场进行"择优选品"。投研策 略平台将研投顾中心观点和组合配置方案发送至投顾工作平台。一线投顾也将通过培训的方式接收到研 投顾中心观点，并依据客户个性化需求，对投顾工作平台上的配置方案进行调整，再与企业微信联通， 实现服务直接触达客户。此外，客户也可通过国元证券的展业平台，即APP或小程序获得透明、直观的 服务体验。梁化彬透露，智能投顾的研发也已列入日程，以期融合人工智能技术提升服务效率与广度。 在机制改革方面，国元证券对试点营业部的考核与激励体系进行了调整。在金融产品引入环节，考核重 心从过往的销售导向，转向更加 ...

"家人们看过来，这筐刚摘的融安金桔，皮薄汁多甜度高，现在下单下午就发货！"12月的广西融安，漫 山金桔树挂满"金疙瘩"，电商直播间里的吆喝声与果园里的采摘声交织成丰收乐章。正值金桔集中上市 旺季，农行融安县支行的定制化金融服务，正顺着产业链的每一根脉络，为这颗"致富果"注入生长动 力。 融安县2025年金桔种植面积达23.1万亩，预计总产量28.7万吨，产值将突破56亿元。早在产业萌芽阶 段，农行融安县支行就结合产业特点，创新推出"金桔贷"等产品，全方位满足产业资金需求。截至目 前，该行支持金桔产业的贷款余额达2.42亿元，惠及1800余户种植户和商户。 转自：新华财经 助力深山土特产成为"香饽饽"，为农企生产线送上"及时雨"。近年来，农行柳州分行紧扣当地农业特 色，以"产品定制化+服务高效化"为抓手，为融安金桔、柳城肉鸡、鹿寨稻谷等优势产业"量体裁衣"， 让金融活水精准浸润产业全链条。截至2025年10月末，农行柳州分行农户贷款余额达32亿元，比年初增 加4.6亿元。 "金桔贷"浇红"致富果" 电商销路一路通 农行柳城县支行关注到农户建棚融资难题，联动区、市、县三级力量定制"金鸡贷"产品，单户最高授信 50 ...

Group 1: UK Economic Outlook - The UK economy shows slight improvement with a Q3 GDP growth of 0.1%, and corporate investment data revised from a decline of 0.3% to an increase of 1.5% [1] - Despite a decline in real household income, consumer spending willingness has strengthened, with household savings rate dropping from 10.2% in Q2 to 9.5% in Q3, the lowest in over a year [1] - Overall, the data remains lagging and does not alter the forecast of a slowdown in GDP growth in the second half of 2025 [1] Group 2: US CPI and Commodity Prices - The US November CPI fell more than expected, leading to revised market expectations for the Federal Reserve's interest rate cuts in 2026, boosting prices of precious metals like gold and silver [2] - Gold prices have surged above $4,400 per ounce, with potential for further increases if it stabilizes above this level, although challenges may arise from central banks shifting from rate cuts to hikes [2] - Seasonal liquidity during the Christmas holiday may amplify current price increases, with December and January historically being strong months for gold [2] Group 3: German Automotive Exports - German automotive exports to the US fell nearly 14% in the first three quarters of 2025, significantly impacted by Trump's trade policies [3] - The engineering sector also faced challenges, with exports to the US down 9.5%, and the chemical industry experiencing a similar decline [3] - Overall, German exports to the US decreased by 7.8% year-on-year, contrasting with an average growth of about 5% from 2016 to 2024 [3] Group 4: Japanese Monetary Policy - The Bank of Japan is expected to continue raising interest rates to address concerns over the weak yen, with predictions of two rate hikes in 2026 [3] - The potential for foreign exchange intervention by Japanese authorities is being closely monitored, although specific intervention levels remain uncertain [4] Group 5: Argentine Foreign Direct Investment - Argentina's foreign direct investment has seen a negative growth for the first time in 22 years, with a reported outflow of $1.52 billion from January to November 2025 [5] - The decline is attributed to multinational companies exiting the Argentine market or selling their local operations, driven by high inflation and currency volatility [5] - The exit of numerous multinational firms since December 2023 reflects a lack of confidence in Argentina's macroeconomic stability [5]

转自：新华财经 下一步，江苏石油将加快智能加注设施在核心门店的覆盖，持续优化服务网络，推进钣喷中心、汽车产业园等高端业态布局，以数字化赋能与绿色运营为抓 手，全力打造"油气氢电服"转型样板，以"国企为国、在苏兴苏"的责任担当，为江苏汽车后市场高质量发展、满足人民美好出行需求贡献力量。（王宇静） 编辑：赵鼎 江苏石油董事长、党委书记胡珣在致辞中表示，从首店探索到400店集群布局，江苏石油实现易捷养车核心区域布局过半，跑出"二次创业"加速度。这是深 化"油气氢电服"战略的生动实践，更是"为车主提供家门口优质服务"承诺的落地。此次同步启动的长城润滑油智能加注业务，旨在发挥集团公司产业链优 势，推进长城润滑油的供应链、技术优势和江苏石油的网络、市场优势相融互促，共同培育车用润滑油智能加注市场，促进中国石化产业融合，为市场和消 费者提供"更省钱、更省时、更环保、更透明"的优质服务，打造易捷养车特色服务项目。未来，江苏石油将以400店为新起点，联合产业链伙伴打造"人・ 车・生活"高价值生态圈，让专业、便捷的养车服务惠及更多车主。 中国石化润滑油有限公司董事长、党委书记张春辉表示，江苏石油400家自营汽服门店盛大开幕及长城 ...

Core Insights - The event "Solid Energy Renewal · Power Start" held in Yancheng, Jiangsu, marked the official release of solid-state battery technology by Jiangsu Jiuxing Energy Technology Co., Ltd, with the 51Ah automotive-grade solid-state battery series passing certification from the China Automotive Research Institute, indicating a significant leap from pilot incubation to industrial production [1][3] Group 1: Technology and Innovation - Solid-state batteries are recognized for their higher safety and energy density potential, making them a crucial research direction for next-generation power batteries [3] - The polymer-based solid-state battery developed by the team led by Professor Guo Xin from Huazhong University of Science and Technology utilizes solid electrolyte materials, effectively reducing the risk of thermal runaway compared to mainstream liquid lithium batteries [3] - The production line was adapted from existing liquid battery lines, enhancing the solid-state battery's operational temperature range and significantly improving energy density [3] Group 2: Industry Collaboration and Applications - Jiangsu Jiuxing Energy signed cooperation agreements with Guangdong Longji Power Technology Co., Ltd, Foshan Jinyinhe Intelligent Equipment Co., Ltd, and Shenzhen Zhongji Automation Co., Ltd, establishing a collaborative ecosystem for "research—production—application" [3] - Solid-state batteries are expected to have wide applications in various fields, including new energy vehicles, two-wheeled electric vehicles, drones, robots, and consumer electronics [3][4] Group 3: Market Position and Competitive Advantage - The polymer-based solid-state battery's strong process compatibility and excellent cost control fill the gap in the domestic high-safety solid-state battery market, providing China with a unique competitive advantage in global solid-state battery technology [4] - Yancheng has become the first city in the Yangtze River Delta region to exceed 20 million kilowatts in installed capacity for new energy generation, creating a relatively complete industrial chain from key materials to battery manufacturing and new energy vehicle applications [4] - Jiangsu Jiuxing, as a wholly-owned subsidiary of Solid Ion Energy Technology (Wuhan) Co., Ltd, benefits from Yancheng's robust new energy industry foundation, which will further strengthen and enhance the city's power battery industry chain [4]

Core Viewpoint - Hainan is positioned as a key experimental zone for reform and opening up in the new era, with financial services playing a crucial role in its development, as demonstrated by the achievements of the Bank of Communications Hainan Branch [1]. Group 1: Supporting the Real Economy - The Bank of Communications has implemented a special service plan for supporting Hainan's free trade port development for five consecutive years, translating it into tangible results [4]. - The bank has directed credit resources towards key areas of the real economy, including opening green approval channels for projects like Boao Airport and Sanya Phoenix Airport, ensuring construction progress [4]. - In the direct financing market, the bank plans to increase its investment in local bonds to 6.5 billion yuan in 2024 and has cumulatively underwritten credit bonds exceeding 3.4 billion yuan, providing stable funding for local development [4]. Group 2: Leading Cross-Border Financial Services - As one of the first banks to pilot multi-functional free trade accounts (EF accounts), the Bank of Communications Hainan Branch has achieved a business volume exceeding 46 billion yuan by the end of October 2025, leading among state-owned banks in the province [5]. - The bank has supported the Hainan provincial government in issuing offshore RMB local bonds in Hong Kong for four consecutive years and facilitated the first investment in local government bonds through EF accounts in September 2025 [5]. Group 3: Comprehensive Empowerment Across Industries - The bank focuses on key industries, providing "park guarantee loans" to small and micro enterprises in the Sanya Yazhou Bay Science and Technology City and supporting the cultural tourism industry by underwriting 1.4 billion yuan in medium-term notes for Hainan Tourism Investment Development Co., Ltd [6]. - The proportion of online inclusive loans has reached 75%, with the balance of inclusive loans for small and micro enterprises exceeding 8.8 billion yuan [6]. - The bank has innovated in public welfare finance, launching the first digital RMB tax refund business in the country and collaborating with local authorities to protect workers' wages through a payment supervision system [6]. Group 4: Global Collaboration for Future Development - The bank is enhancing its forward-looking layout to embrace a higher level of openness, deepening the application of EF accounts in offshore bond issuance and new types of offshore international trade settlements [7]. - It aims to strengthen domestic and international linkages to facilitate Hainan enterprises in cross-border mergers and acquisitions, overseas listings, and global financing [7]. - The bank plans to attract more foreign asset management institutions to Hainan and improve payment convenience for foreign individuals through expanded merchant coverage and optimized foreign currency exchange services [7].

Group 1 - The Hong Kong Stock Exchange (HKEX) is experiencing a surge in technology stock listings as the year-end approaches, with companies like MiniMax and Zhiyu Technology making significant moves [1][2] - MiniMax, an AI company, has received approval from the China Securities Regulatory Commission and passed the HKEX listing hearing, with a post-financing valuation exceeding $4 billion after raising nearly $300 million in July 2024 [1] - Zhiyu Technology, established in 2019 and focusing on foundational model development, has also submitted its prospectus to the HKEX, positioning itself as a major competitor in the AI space [1] Group 2 - Birun Technology has passed the HKEX hearing and is set to launch its IPO, aiming to become the "first GPU stock" in Hong Kong, with plans to issue approximately 247.69 million shares at a price range of HKD 17-19.6 [2] - The total fundraising amount for Birun Technology's IPO is expected to be between HKD 4.21 billion and HKD 4.85 billion, with the official listing scheduled for January 2, 2026 [2] - The HKEX has introduced the Hong Kong Stock Exchange Technology 100 Index, which tracks the performance of the 100 largest technology companies listed on the exchange, highlighting its commitment to supporting the technology sector [2]

Core Viewpoint - Shanghai Pudong New Area officially launched the "Digital Going Global Action Plan" on December 22, aiming to establish itself as the preferred destination for digital enterprises going global [1] Group 1: Strategic Navigation - The "Digital Going Global Action Plan" (GDA Plan) focuses on global market access, digital-driven initiatives, and industrial upgrades, detailing 19 specific tasks to support digital enterprises in their international endeavors [2] - A digital service base has been established in Pudong, leveraging the Lujiazui Smart Port to provide a comprehensive one-stop service system for digital technology, products, and services [2] - The plan emphasizes the market-oriented reform of data elements and aims to facilitate secure and orderly cross-border data flow, contributing to the deepening of digital economic cooperation [2] Group 2: System Empowerment - Pudong is developing a systematic and multi-dimensional support network for digital enterprises, launching three key services: "Guidance, Protection, and Leadership" [3] - The "GDA Guidance Service Map" has been introduced to assist enterprises in global market layout and risk assessment, developed in collaboration with various domestic and international research institutions [3] - A list of 50 "GDA Protection Service Providers" has been released, covering nine key areas of digitalization and internationalization, to provide specialized services for enterprises [3] Group 3: Practical Collaboration - The action plan's implementation relies on active exploration by market entities and collaboration among various ecological partners, with agreements signed to enhance digital going global services [5] - The "Global Perception" platform for monitoring overseas risks was introduced, showcasing how digital tools can empower risk management for enterprises expanding internationally [5] - The initiative aims to enhance the global competitiveness of Shanghai's digital economy and contribute to China's participation in global digital economic governance [5]