Core Viewpoint - The rise of new psychoactive substances has surpassed traditional drugs, with some provinces reporting that new drug cases account for over half of all drug-related incidents. The involvement of minors in drug abuse is increasing, leading to a cycle of addiction and criminal activity [1][2]. Group 1: Current Drug Crime Trends - New psychoactive substances are becoming a significant issue, with a notable increase in cases involving medical narcotics and psychoactive drugs as substitutes for traditional drugs [2][3]. - In 2023-2025, courts are expected to adjudicate approximately 93,000 drug cases, with 133,000 defendants, of which 27,000 will receive prison sentences of five years or more, resulting in a heavy sentencing rate of 20% [2]. - The number of drug cases has significantly decreased, with a reported 23,732 cases concluded in 2025, marking an 82.93% decline from the peak in 2015 [1]. Group 2: Sources and Channels of Drug Distribution - Medical institutions, pharmacies, and clinics have become channels for the illegal distribution of narcotic drugs, with some medical professionals exploiting their positions for profit [3][4]. - The types of abused narcotic drugs are diverse but concentrated on specific substances such as etomidate, methadone, and synthetic cannabinoids [3]. Group 3: Legal and Regulatory Responses - The Supreme People's Court has issued guidelines to strengthen the judicial handling of cases involving narcotic drugs, particularly focusing on medical narcotics and psychoactive substances [3][5]. - Recent judicial recommendations have been made to the National Health Commission to enhance the regulatory framework surrounding narcotic drugs, addressing loopholes and weak points in current systems [5].

Core Viewpoint - The recent policy changes aim to enhance the capacity pricing mechanism for coal, gas, pumped storage, and new energy storage to ensure the stability and safety of the power system while promoting a green and low-carbon energy transition [2][4]. Group 1: Policy Changes and Mechanisms - The National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) have issued a notification to improve the capacity pricing mechanism for various energy sources, including coal and gas [2]. - The notification emphasizes the need to adapt the pricing mechanisms to the requirements of the new power system and market structure, ensuring a fair competitive environment [2][3]. - It proposes to increase the coal power capacity price standard in various regions and establish a similar pricing mechanism for gas power [2]. Group 2: Financial Implications - The notification requires that the proportion of fixed costs recovered through capacity pricing for coal power plants be raised to no less than 50%, equating to 165 yuan per kilowatt annually [4]. - For new pumped storage projects, a unified capacity price will be set based on average cost recovery principles [2][4]. - The establishment of an independent capacity pricing mechanism for new energy storage will consider factors such as discharge duration and peak contribution [2][4]. Group 3: Impact on Electricity Pricing - The policy is designed not to affect residential electricity prices, maintaining the current pricing policy for residential and agricultural users [4]. - For industrial and commercial users, the adjustments in capacity pricing are expected to balance out, with costs for regulatory power sources decreasing while capacity pricing increases, resulting in minimal impact on overall electricity costs [4].

自2026年2月4日（星期三）收盘清算时起，Au（T+D）、mAu（T+D）、Au（T+N1）、Au （T+N2）、NYAuTN06、NYAuTN12等合约的保证金比例从16%调整为17%，下一交易日起涨跌幅度限 制从15%调整为16%；CAu99.99合约保证金每手120,000元调整至每手150,000元。 通知指出，各会员提高风险防范意识，做细做好风险应急预案，提示投资者做好风险防范工作，合理控 制仓位，理性投资，确保市场稳定健康运行。 （编辑：张漫游 审核：朱紫云 校对：翟军） 中经记者 郝亚娟 夏欣 上海 北京报道 2月3日，上海黄金交易所发布《关于调整黄金部分合约保证金水平和涨跌停板的通知》（以下简称"通 知"），上海黄金交易所拟对黄金部分合约交易保证金水平和涨跌停板比例进行调整。现将相关事项通 知如下： ...

中经记者 郝亚娟 夏欣 上海 北京报道 随着海南自由贸易港正式启动全岛封关，中国对外开放迎来具有里程碑意义的标志性举措。 海南全岛封关以"一线放开、二线管住、岛内自由"为核心，为跨境金融带来资金流动、贸易结算、投融 资等多领域机遇，配套政策体系已成型，金融机构如何把握政策窗口机遇？《中国经营报》记者就相关 问题专访了海南省政协委员、经济委副主任，海南省开放型经济研究会会长李世杰。 《中国经营报》：海南全岛封关，跨境金融有何新机遇？ 李世杰：跨境资金实现高效自由流动。依托EF账户体系，"跨一线"资金划转凭指令即办，资本项下除 证券投资外不受用汇额度与审批限制，助力企业跨境资金归集调拨，推动海南成为区域财资管理中心。 《中国经营报》：金融机构如何抓住机遇？可以做哪些创新？ 李世杰：海南全岛封关以"一线放开、二线管住、岛内自由"为核心，为跨境金融带来资金流动、贸易结 算、投融资等多领域机遇，配套政策体系已成型，金融机构需以账户、产品、风控创新为抓手，把握政 策窗口机遇。 未来还应在三方面拓展制度创新工作，在账户体系创新方面，深化EF账户场景应用，对接跨境资金集 中运营中心，提供"账户+结算+融资"一体化服务，支持离 ...

2月2日，中国建设银行支持上海市第一批收购二手住房用于保障性租赁住房（以下简称"保租房"）项目 签约活动在上海市举行。据悉，此举也标志着，上海市通过收购存量二手房扩大保租房供给工作，已进 入实质性推进阶段。 作为楼市热门城市，上海市上述举措引发高度关注。业内人士认为，此举将有助于进一步激活"置换 链"、稳定二手房价格预期、更好对接各类群体租赁需求。 收购二手房用于保租房，上海市打响了2026年一线城市楼市去化"第一枪"。 2月3日，上海市浦东新区公共租赁住房投资运营有限公司（以下简称"浦东新区公租房公司"）相关工作 人员向《中国经营报》记者表示，具体政策和实施细则还没有出来，目前仅登记相关信息。 "加强一二手房联动，是促进新房市场去化的有力工具。"对于上海市收购二手房用作保租房的做法，同 策研究院联席院长宋红卫向记者表示："国家政策在这方面给予了大力支持，在收购二手房用作保租房 过程中，专项债和保障房再贷款政策发挥了积极作用，较低的利率水平也为保障房运营打开了空间。" 实施细则尚未出台 据了解，2月2日，上海市收购二手住房用于保租房工作取得实质性进展。上海市浦东新区、静安区、徐 汇区成为首批试点区，收购主体为 ...

Core Viewpoint - The National Development and Reform Commission announced an increase in domestic gasoline and diesel prices, marking the second consecutive rise in fuel prices since 2026, with gasoline rising by 205 yuan per ton and diesel by 195 yuan per ton [1] Price Adjustment - As of February 3, the price adjustments will result in an estimated additional cost of around 8 yuan for filling a 50-liter tank of 92-octane gasoline [1] International Oil Prices - The recent increase in international oil prices is attributed to several factors, including reduced oil production in the U.S. due to weather conditions and geopolitical pressures affecting oil supply [1] - Despite a temporary drop in oil prices due to easing tensions between the U.S. and Iran, the overall trend remains upward [1] Future Price Outlook - Analysts suggest that if geopolitical situations stabilize, there may be potential for a decrease in international oil prices, which could lead to a higher probability of domestic price reductions in the future [1] Demand Dynamics - The demand for gasoline is expected to remain strong due to increased travel during the Spring Festival and pre-holiday stockpiling by consumers, while diesel demand is anticipated to be weak as outdoor construction projects halt for the holiday [1]

中经记者 郭阳琛 张家振 上海报道 作为苏北老工业基地，江苏省徐州市近年来加速产业"腾笼换鸟"，2025年能够顺利迈入"万亿GDP俱乐 部"，实现苏北地区"零的突破"备受关注。 2026年2月2日，这一悬念终于揭晓。徐州市统计局发布的《2025年徐州市经济运行情况》显示，根据地 区生产总值统一核算结果，2025年，徐州市实现地区生产总值（GDP）9957.22亿元，按不变价格计 算，比2024年增长5.8%。 《中国经营报》记者了解到，2022年，在获批建设国家可持续发展议程创新示范区后，徐州市提出培 育"343"创新产业集群。2025年，工程机械、绿色低碳能源、数字经济、食品及农副产品加工四大产业 集群规模均突破千亿元，创新产业集群总规模预计达8500亿元。 "不要纠结于这个数字，不能被数字所累。"对于外界关注的能否迈入"万亿GDP俱乐部"话题，1月21日 下午，徐州市委书记宋乐伟在参加铜山区代表团讨论时回应称，"该怎么发展就怎么发展，要扎扎实实 地发展"。 "顺其自然"冲万亿 相关数据显示，2024年，徐州市地区生产总值达9537亿元。徐州市已站在"万亿GDP俱乐部"门前。 2026年1月21日，在徐州市 ...

Core Insights - Moole Technology has launched the AI Coding Plan intelligent programming service, marking a significant advancement in the domestic GPU sector as the first solution built on a fully functional domestic GPU computing base [3] - The service leverages the full precision computing capabilities of the MTT S5000 and integrates the top-tier code model GLM-4.7 from Zhiyuan AI, achieving a critical breakthrough in the AI coding field with domestic chips and models [3] Group 1 - Moole Technology collaborated with Silicon-based Flow to develop a system that significantly reduces response latency while ensuring code generation quality through efficient operator fusion and framework optimization [1] - The core model of the system, GLM-4.7, ranks first among open-source and domestic models in the Code Arena, outperforming peers in function completion and vulnerability detection, even surpassing GPT-5.2 [1] - The AI Coding Plan service is compatible with major programming tools such as Claude Code, Cursor, and OpenCode, allowing developers to switch seamlessly between different development environments [1]

本次出让的石景山区1609街区新首钢核心区SS00-1609-0012地块R2二类居住用地，被首钢地产以13.9亿 元底价摘得。 该地块土地面积约1.66公顷，规划建筑面积3.66万平方米，容积率2.2，楼面价约3.8万元/平方米。地块 紧邻地铁11号线新首钢站，两站换乘6号线和1号线，属于典型的临铁项目。规划条件中明确提出，建筑 需与首钢园区工业风貌协调，立面应公建化，并考虑与北侧工业遗存煤仓的空间关系。 中指研究院土地市场研究负责人张凯告诉《中国经营报》记者，相比周边在售项目元玺2.74万元/平方 米的楼面价，本地块价格高出近1万元/平方米，同时石景山板块当前项目扎堆库存量整体较高，未来销 售或面临市场考验。 首钢地产拿地当天即发布案名——首钢·璟瑞长安。在此次拿地之前，首钢地产在该板块还布局有石景 山首个好房子项目首钢·璟悦长安。 中经记者 吴静 卢志坤 北京报道 2026年2月3日，北京完成今年首场土地拍卖，石景山、通州、顺义三宗住宅用地共揽金57.62亿元。 本次出让地块整体市场表现平淡，未出现溢价竞争，与去年年初高溢价抢拍现象形成对比。 值得注意的是，北京土地供应持续缩量，2026年商品住宅用地计 ...

对于这轮千亿美元级融资情况，记者结合公开信息整理如下：英伟达已确认参与且为最大单笔投资；微 软/软银为既有核心伙伴，目前在洽谈中；亚马逊/中东主权基金正在深度谈判；甲骨文、谷歌、淡马锡/ 新加坡主权基金则处于传闻阶段。 回顾2026年以来黄仁勋的行程和言论（即从年初的CES 2026到达沃斯世界经济论坛，再到中国内地之 行等），记者注意到，他有在推广英伟达的AI"五层蛋糕"概念，这一概念在CES 2026期间首次被提 及。 等到2026年的达沃斯世界经济论坛 （World Economic Forum） ，在与贝莱德集团 （BlackRock）首席执 行官Larry Fink的对谈中，黄仁勋系统地将AI描述为"五层蛋糕"，而不是单一技术，涵盖能源、芯片和 计算基础设施、云数据中心、AI 模型以及最终的应用层。 "从产业角度理解这一点非常重要：AI本质上是一个五层蛋糕。最底层是能源，因为AI是实时处理并实 时生成智能的，它需要能源来做到这一点。能源是第一层。第二层是我们所在的层，即芯片——芯片和 2月1日，在连续多年春节前的"固定打卡"——中国内地之行后，现身台积电先进制程工厂的英伟达创始 人兼CEO黄仁勋回应 ...