近期，中国人民银行（以下简称"央行"）对包括支农支小再贷款在内结构性货币政策工具实施了单独降 息，一方面通过低成本资金畅通普惠金融渠道，支持地方农村金融机构"敢贷、愿贷"，另一方面也避免 了"大水漫灌"可能带来的副作用。 湖南省农信联社一级高级经理彭树军对《中国经营报》记者指出："支农支小再贷款额度增加、利率降 低的政策有利于农商行进一步增加市场竞争能力。同时，也有利于农商行提升合规能力，一是正向激励 力度更大；二是争取了再贷款要接受更严的审核监督。" 某农商行人士在此前的采访中向记者坦言："农村金融机构在贷款市场竞争能力弱，假设支农支小再贷 款政策不再延续，农商行在涉农贷款业务上因为资金成本的原因导致贷款利率与全国性银行相比不占优 势，要如何吸引并留存客户？" 此次支农支小再贷款政策出台，在某种程度上来说通过货币工具支撑起中小农村金融机构的贷款市场竞 争力。此次政策调整并非普惠性红利，同时也是对农商行经营导向与服务能力的"筛选"，积极下沉市 场、合规经营的机构将享受政策红利。 缓解息差压力 2026年1月15日，国新办发布会上，央行披露增加支农支小再贷款额度5000亿元，将支农支小再贷款额 度与再贴现额度打 ...

Core Insights - The core viewpoint of the article highlights the emergence of the Xiaopeng X9 as a significant player in the MPV market, particularly appealing to younger consumers, with over 50% of its users being from the '90s generation [1][2]. Group 1: Product Features and Market Position - Xiaopeng X9 is positioned as a "super range extender" MPV, featuring six core strengths including a starship design, active rear-wheel steering, advanced driving assistance, three-row electric folding seats, a comprehensive range of 1602 kilometers, and a snow stability system [2]. - The vehicle aims to provide a "worry-free" travel experience across family scenarios, long-distance travel, and complex environments, marking a shift in the traditional MPV user base [2][4]. Group 2: User Demographics and Market Trends - The user profile of Xiaopeng X9 shows a significant shift, with nearly 80% of deliveries to individual users, which is approximately 35 percentage points higher than competitors in the same class [3]. - The vehicle has achieved a remarkable monthly delivery of 5424 units in December 2025, reflecting a year-on-year growth of 289.1% [2]. - The age distribution of Xiaopeng X9 users is notably younger, with '90s users making up 57.2% and '00s users at 13.7%, compared to an average of only 2% for '00s users in the overall MPV market [3]. Group 3: Strategic Implications and Industry Context - The market performance of Xiaopeng X9 reflects a pragmatic shift in the strategies of new energy vehicle companies, where the distinction between "pure electric" and "range extender" is becoming less pronounced [4]. - The success of the Xiaopeng X9 is seen as a test of the company's strategic flexibility and product adaptability in a rapidly evolving market [1][4].

Core Insights - Xiaopeng Motors is positioning its Xiaopeng X9 Super Extended Range MPV as the first choice for young families, with over 50% of users being born in the 1990s, breaking traditional MPV user boundaries [1] - The automotive industry is witnessing a shift in technology strategies, with Xiaopeng Motors moving towards extended range vehicles while competitors like Li Auto are focusing on pure electric models, indicating a recalibration of optimal solutions based on user needs and charging conditions [1] - The Xiaopeng X9 is the company's first super extended range product aimed at the global market, representing a critical step in expanding its technological portfolio and user demographics [1] Product Features - The core strengths of the Xiaopeng X9 Super Extended Range include its starship design, active rear-wheel steering, advanced driver assistance capabilities, three-row electric folding seats, a comprehensive range of 1,602 kilometers, and a snow stability system [2] - The vehicle aims to provide a "worry-free" travel experience by addressing family scenarios, long-distance travel, and stability in complex environments [2] User Demographics - The Xiaopeng X9 has a personal user delivery ratio of nearly 80%, which is approximately 35 percentage points higher than its competitors, leading to its top sales position in Hong Kong's MPV market and the highest sales in Indonesia for pure electric MPVs in December 2025 [3] - The user base is notably younger, with 57.2% of buyers being born in the 1990s and 13.7% in the 2000s, compared to an average of only 2% for the entire MPV market [3] - Female ownership is at 22%, indicating an increasing appeal in family decision-making scenarios [3] Software and Technology - Xiaopeng Motors is enhancing its software and intelligent experience, with the launch of the Dimensity AIOS 6.0 system on January 20, which will first be available on the Xiaopeng X9 and other models [3] Market Trends - The market performance of the Xiaopeng X9 reflects a pragmatic shift in technology choices among new energy vehicle companies, where the distinction between "pure electric" and "extended range" is becoming less clear, focusing instead on user demographics, usage scenarios, and system capabilities [4]

记者了解到，蒋琳曾任五粮液集团党委委员。该行2025年年中报显示，五粮液集团是该行第一大股东。 不过，2025年10月30日，该行公告表示，蒋琳已向董事会送达辞呈，提出因个人原因，辞去该行执行董 事、行长职务。 【这家上市银行，一年内行长三次调整！】宜宾银行（02596.HK）近日发布公告称，已收到国家金融 监督管理总局四川监管局批复，正式核准郭华先生行长任职资格，郭华自2026年1月13日起履行行长职 责。 《中国经营报》记者注意到，一年内，该行行长已多次调整。 2025年4月8日，该行公告，行长杨兴旺因个人身体原因，已向董事会送达辞呈，辞去该行执行董事、行 长、董事会风险管理委员会主席、战略与资产负债管理委员会委员及关联交易控制委员会委员职务。 2025年6月4日，宜宾银行宣布，董事会审议通过委任蒋琳为该行行长。蒋琳自2024年4月起任该行党委 委员、副书记。蒋琳担任行长的任职资格尚需报国家金融监督管理机构核准。董事会同意在国家金融监 督管理机构核准蒋琳的行长任职资格前，由蒋琳代为履行行长职责，代为履职期限自董事会审议通过之 日起不超过6个月。 记者就宜宾银行频繁调整行长及其他情况与该行确认，该行相关人士 ...

Core Viewpoint - The banking sector in A-shares is experiencing a downturn despite a bullish start to 2026 for the overall market, attributed to capital outflows and pressures on net interest margins [1][2][3]. Group 1: Market Performance - As of January 19, 2026, the banking index has seen a decline of 3.49% over the past five days, with four consecutive days of losses [1]. - The Penghua CSI Bank ETF has dropped 4.32% year-to-date, contrasting with a 2.2% increase in the CSI 300 index, highlighting a significant divergence in performance [2]. - Nearly 70% of the 42 listed banks are in a state of correction, indicating widespread weakness in the sector [2]. Group 2: Factors Influencing the Banking Sector - The shift in market preference towards high-growth sectors like technology and metals has led to a noticeable capital outflow from traditional financial sectors, including banks [2][3]. - The ongoing marketization of interest rates is exerting long-term pressure on banks' net interest margins, with limited relief from structural monetary policy tools [3]. - Investor sentiment is cautious due to slow recovery in long-term credit demand and concerns over asset quality and systemic risks, which are dampening confidence in bank profitability [3]. Group 3: Long-term Investment Outlook - Despite short-term challenges, institutions remain optimistic about the long-term investment value of bank stocks, citing low valuations and attractive dividend yields as key factors [4][5]. - The potential for a reassessment of systemic risks in the banking sector could lead to a revaluation of net assets, providing a catalyst for stock price recovery [5]. - The stability of bank stocks as a core asset in a diversified portfolio is emphasized, particularly in uncertain economic conditions, suggesting they may outperform in defensive market phases [4][5].

Core Insights - Bilibili (B站) released its "Top 100 UP主" list for 2025, highlighting a mix of established creators and newcomers, with one-third of the list featuring new faces [1][2] - The selection criteria focus on professionalism, influence, and innovation, with a significant emphasis on content creation productivity [2] Group 1: Key Features of the 2025 Top 100 UP主 - The 2025 list includes 27 newcomers, representing 27% of the total, with 12 UP主 having less than three years of experience [1][2] - The total number of videos created by the 2025 Top 100 UP主 exceeds 49,000, with a cumulative duration of over 990,000 minutes [2] - "雨说体育徐静雨" leads in video quantity with 6,334 videos, while "一数" tops in total video duration with 1,800 minutes, approximately 300 hours [2] Group 2: Balance of Established and New Creators - The presence of long-standing creators like 老番茄, 泛式, 逍遥散人, and 木鱼水心, who have been in the Top 100 for eight consecutive years, has sparked debates about the balance between old and new talent [2] - Over 60% of the UP主 in the 2025 list have been creating content for more than five years, with 18 having over ten years of experience [2] Group 3: Content Trends and Innovations - Knowledge-based content has shown strong performance, with creators like "卢格杜努姆的奥古斯丁" gaining significant followers through in-depth videos [4] - The return of certain UP主 after several years, such as "雨哥到处跑" and "老师好我叫何同学," indicates a trend towards content innovation and authenticity [5] - The community's discussions reflect a tension between the desire for high-quality content and the platform's commercial and ecological considerations [5]

在业内专家看来，此案将"大V带单—反向割韭菜"灰色产业链完整地置于监管审视之下。罚没8325万元 足以覆盖当事人"流量变现"的全部收益，再加上3年的证券市场禁入，相当于将大V的职业生涯一次性 归零。这将彻底扭转违法成本与违法收益的比例关系，强化震慑效应。 就在1个月前，国家网信办和中国证监会宣布，近期两部门深入整治涉资本市场网上不实信息，依法处 置了一批炮制谣言、非法荐股的账号。 业内专家对《中国经营报》记者表示，监管部门查处自媒体大V非法荐股、操纵证券市场等违法行为， 为"自媒体+投顾+交易"的混合模式划定了明确的法律红线，有利于营造、维护清朗的涉资本市场网络 空间。 罚没8325万元+市场禁入3年 浙江证监局《行政处罚决定书》显示，金永荣长期使用"金浤"账号在雪球平台发布荐股文章，并辅以在 淘股吧、微信公众号、小红书等其他平台开通账号发文发帖宣传，参与淘股吧实盘比赛以及直播分享选 股逻辑等形式，积累名气和受众。 截至2025年4月其雪球"金浤"账号粉丝数量超过10.7万人，2024年9月至2025年4月期间发布帖文的单篇 平均阅读量高达130万次。浙江证监局认定，金永荣在证券投资领域具有较大知名度和影响力 ...

【李东生不再兼任TCL科技CEO 王成接棒】1月19日晚间，TCL科技（000100.SZ）发布公告称，因经营 管理需要，公司董事长李东生提名王成担任公司首席执行官（CEO），全面负责公司日常经营管理工 作。此次人事调整后，李东生将继续担任公司董事长，不再兼任CEO一职。 值得关注的是，截至公告披露日，王成持有TCL科技股票268220股，与公司其他董事、高级管理人员无 关联关系。中经记者 陈佳岚 广州报道 TCL科技核心业务涵盖半导体显示、新能源光伏及半导体材料三大板块。 公开资料显示，王成是TCL体系内成长起来的核心管理人才。其1974年出生，持有美国德克萨斯大学阿 灵顿分校EMBA学位，1997年便加入TCL集团，先后担任TCL多媒体海外业务多个管理岗位负责人、 TCL集团人力资源总监、TCL电子首席执行官、TCL实业控股首席执行官等职位，自2021年8月起担任 TCL科技集团首席运营官（COO）。 ...

2026年1月19日，最高人民法院公布2025年司法审判工作主要数据。数据显示，2025年，人民法院受理 各类审判执行案件（不含先行调解成功案件，下同）3700余万件，同比增长超过10%。截至2025年12月 底，全国法院两年以上未结诉讼案件数量同比下降约两成，长期未结诉讼案件清理工作成效明显。 据了解，过去一年，人民法院更加严格贯彻落实立案登记制度要求，一审案件收案数量大幅上升的同 时，二审和再审案件收案数量同比均下降，一审裁判被二审改判、发回重审的比例和生效裁判被再审改 判、发回重审的比例同比均下降，人民法院裁判的公正性、稳定性、权威性稳步提升。 "2025年，人民法院持续加强和优化审判管理，全面充分履行审判职能，努力以审判工作现代化支撑和 服务中国式现代化，为高质量完成'十四五'规划提供司法保障，为'十五五'规划开局营造良好法治环 境。"最高法相关负责人表示。 据悉，为做优做实符合司法规律的审判管理，最高人民法院持续优化调整审判质量管理指标体系，引导 各级法院聚焦实质解纷、定分止争基本目标务实推进工作。截至2025年12月底，不断优化的审判质量管 理指标体系中的总体指标以及刑事、民商事、行政、执行等各业 ...

Core Viewpoint - The 2026 Spring Festival travel season in China is expected to see a record passenger volume of 539 million, representing a 5% year-on-year increase, with the peak travel days anticipated on February 13 and February 23 [1][2]. Group 1: Passenger Volume and Trends - The 2026 Spring Festival travel period will last for 40 days, from February 2 to March 13, with an expected daily peak capacity of over 14,000 passenger trains, reflecting a 5.3% increase in seating capacity compared to the previous year [1]. - The 2025 Spring Festival saw a record 513 million passengers, marking a 6.11% increase from the previous year, while the growth rate of passenger volume has been declining in recent years, with a notable 39% increase in 2024 [1][2]. Group 2: Ticketing and Services - The railway ticketing platform, 12306, will introduce a new service allowing passengers to cancel mistakenly purchased tickets for free within 30 minutes of payment, provided the cancellation is made more than four hours before departure [2]. - The railway authorities will enhance measures to prevent malicious ticket purchasing and improve system capacity to handle high traffic during the Spring Festival [3]. Group 3: Travel Patterns and Popular Routes - Major cities such as Beijing, Guangzhou, Shenzhen, and Shanghai are expected to see concentrated passenger flows before the festival, while cities like Chengdu, Wuhan, and Nanchang will experience high traffic after the festival [2]. - Popular travel routes include connections from Xi'an to Chengdu, Taiyuan, Dalian to Harbin, and Qingdao to Shanghai, with additional night trains being added on major high-speed rail lines [2]. Group 4: Additional Services and Features - The "quiet carriage" service will be expanded to include more train types, increasing the number of trains offering this service to over 8,000 during the 2026 Spring Festival [4]. - The railway department emphasizes that the 12306 website is the only official platform for ticket purchases, and no third-party collaborations exist for expedited ticket services [4].