2026年1月5日，云南省农村信用社联合社（以下简称"云南省联社"）及省内122家农商行、农信社通过 联合公告宣布，已审议通过以新设合并方式组建"云南农村商业银行股份有限公司"（暂定名）（以下简 称"云南农商行"），成为2026年全国首个明确农信改革方向的省份。 招联首席研究员、上海金融与发展实验室副主任董希淼指出："组建云南农商行之后，有两点须高度关 注：第一，要确保业务发展和客户服务的连续性，不能因改革化险而中断或影响业务发展和客户服务； 第二，要特别注重风险防控，确保改革过程平稳有序，避免因整合衍生次生风险或引发新的风险。" 《中国经营报》记者了解到，即将组建的云南农商行的统一法人模式旨在解决原有三级法人体系下机 构"小散弱"、资源调配低效和风控标准不一的问题，通过集中区域金融资源形成规模优势，为普惠金融 提供更坚实的支撑。 化解风险 在启动省级统一法人改革前，云南曾积极推进州市一级农信社机构统一法人改革。2022年年底，迪庆农 商行、怒江农商行作为全省首批州市统一法人农商行挂牌开业。2024年11月，以新设合并方式组建的德 宏农商行也揭牌开业。 云南农商行官宣组建之前曾与内蒙古农商银行交流学习。202 ...

鼓励运用AI、大数据手段提升效率与质量；鼓励在线调解；可以从具有专业影响力和公信力的境外人 士中聘任商事调解员；对标国际高标准，立足行政法规定位…… 《中国经营报》记者注意到，《条例》第十八条明确鼓励商事调解组织运用人工智能、大数据等技术手 段提升调解质量和效率。与此同时，《条例》也对在线调解作出回应：商事调解员与当事人协商采取在 线方式进行调解的，与线下调解活动具有同等法律效力。 北京卓浩律师事务所张建律师向记者分析指出，在司法实务中，当事人常对在线调解协议的法律约束 力、可执行性存在顾虑。《条例》将相关内容提升至行政法规位阶予以权威确认，尤其为跨境、跨地域 商事纠纷的便利化解决提供了更坚实的制度基础。 张建进一步表示，从技术层面看，《条例》释放出明确的政策信号：国家鼓励技术赋能调解，支持运用 人工智能、大数据等手段。该导向不仅着眼于程序便捷，更将目标指向"提高调解质量和效率"，意味着 技术可能在事实梳理、法律分析、方案生成等环节发挥更大作用，从而提升调解的专业化水平。 边界与合规仍需细化 国际海事律师万仁善向记者表示："过去，英美律师曾因担心商事调解减少工作量而持抗拒态度。但从 提高效率、降低法律成本、加 ...

Core Viewpoint - China will implement strict export controls on silver starting January 1, 2026, elevating its management level to that of rare earths, aiming to prioritize domestic demand and ensure supply chain security for key industries [1][2]. Group 1: Policy Changes - The new policy will maintain export controls until at least the end of 2027, providing a stable strategic adjustment mechanism for long-term planning by enterprises [1]. - The export management will continue under a licensing system, with an increase in the number of state-owned trading enterprises involved, indicating no substantial changes in the policy framework [1][2]. Group 2: Industrial Demand and Supply - China is the world's largest silver refining country, with an annual production of approximately 3,300 tons, which is insufficient to meet the industrial demand of around 8,000 tons, leading to a focus on domestic supply for high-tech industries [2][3]. - Silver's role has shifted from a traditional precious metal to a critical strategic resource, necessitating enhanced export management to secure raw material supplies for key industries [2][3]. Group 3: Market Impact and Price Trends - The anticipated export controls may lead to a global supply reduction of 4,500 to 5,000 tons annually, exacerbating existing supply shortages in the market [4]. - Analysts expect silver prices to fluctuate between $66 and $85 per ounce in the first quarter of 2026, with potential upward pressure later in the year, possibly challenging the $100 mark [4]. - Current high silver prices are driven by low global inventories and strong paper demand, with market tensions highlighted by the ongoing consumption of COMEX inventories and low domestic futures stock [5].

Group 1 - The Sydney Metro West project is a new subway line with a total length of 24 kilometers and 9 stations, scheduled to be operational by 2032 [1] - The contract awarded to the joint venture Metro Trains West includes project design, construction, and maintenance, covering the delivery of 16 driverless trains and a signaling system [1][3] - The total value of the four core contracts related to the Sydney Metro West project amounts to 11.5 billion AUD [3] Group 2 - China CRRC has a strong presence in the Australian metro market, with its subsidiary CRRC Changchun Railway Vehicles Co., Ltd. having entered the market over a decade ago [2] - The international business orders for China CRRC have remained high, with new orders in 2024 projected at approximately 322.2 billion CNY, a year-on-year increase of 7.90% [3] - In 2023, China CRRC's international business new orders reached a record high of about 58.4 billion CNY [3]

近期地方性银行资本金调整频繁，有村镇银行公告减资，也有银行召开股东会拟通过简易减资的方式调 整注册资本金。 《中国经营报》记者注意到，内蒙古自治区两家地方性银行专项债转股有新进展。2026年1月6日，内蒙 古银行发布公告称，已获得监管部门批复同意正在履行注册资本变更相关程序，根据此前的公告可知， 内蒙古银行通过简易减资，同时定增及专项债转股补充资本。无独有偶，鄂尔多斯银行也在2025年12月 25日发布公告称，拟通过简易减资方式将鄂尔多斯银行的注册资本调减，同时，还将通过定向增资扩股 及专项债资金转股的形式补充资本。 业内人士认为，银行简易减资后通过定增及专项债转股补充资本，将实现有效补充核心资本、优化股权 与治理结构、支撑业务扩张以及降低融资难度与成本等多项优势。 专项债资金转股 对于银行原有股东方将有哪些影响？鄂尔多斯银行股东之一博源化工（000683.SZ）方面告诉记者："鄂 尔多斯银行注册资本金调整对上市公司的影响目前暂无法判断。"对方同时表示，此次不参与鄂尔多斯 银行的定向增资。 中国（上海）自贸区研究院金融研究室主任刘斌向记者指出："先减资后同步增资实现资本'提质'。通 过简易减资清理低效或闲置资 ...

Core Viewpoint - The Digital Renminbi Operations Management Center has launched a "Carbon Inclusive" mini-program within the Digital Renminbi App to promote the use of digital currency in green finance, initially available in Shanghai [1]. Group 1: Digital Currency and Green Finance - The initiative aims to enhance the application of digital renminbi in the carbon finance sector by creating innovative scenarios for carbon inclusivity [1]. - Users who activate the service will have carbon credits from their daily low-carbon activities automatically collected in a "Carbon Inclusive" account [1]. - Each 1250 grams of carbon credits can be exchanged for 0.01 yuan of digital renminbi, incentivizing users to engage in environmentally friendly behaviors [1].

Core Viewpoint - The actual controller of Baoneng New Energy, Ye Huaneng, has been penalized by the Guangdong Securities Regulatory Bureau for failing to disclose shareholding arrangements and for illegal share reductions, resulting in a total fine and confiscation of 37.54 million yuan [1] Group 1: Regulatory Actions - Ye Huaneng received a warning and was fined 3.75429 million yuan by the Guangdong Securities Regulatory Bureau [1] - The penalty includes a fine of 2 million yuan for the failure to disclose shareholding arrangements and an additional fine of 1 million yuan for illegal share reductions [1] - The illegal share reduction involved a 1.1% reduction of shares, amounting to 141 million yuan [1] Group 2: Shareholding Details - In January 2017, Ye Huaneng decided to transfer 111 million shares (5.11% of total shares) held by Baoliwa Group to Ningyuanxi for holding on behalf [1] - The failure to disclose this holding arrangement to the listed company is the basis for the regulatory action taken against Ye Huaneng [1]

根据汽车之家数据，过去一年，小米SU7 成为最畅销的20万元以上的轿车。对于小米SU7的表现，雷军 表示："小米SU7，因为好看、好开和智能体验，上市后就成为了汽车行业无可争议的大爆品，一直火 爆到今天。"中经记者 陈茂利 张硕 北京报道 【新一代SU7预计4月份上市 小米雷军：辅助驾驶全部满配】日前，小米集团创始人、CEO雷军在社交 媒体上透露，小米汽车新一代SU7，豪华高性能纯电轿车预计于2026年4月份上市，将全系标配激光雷 达，辅助驾驶全部满配。 《中国经营报》记者获悉，2024年3月28日，小米汽车发布了SU7。当年4月份开始交付至今,1年9个月 时间，小米SU7 交付超过了 36万辆车，月均超过1.7万辆。 ...

Core Insights - The article highlights the launch of DeskMate, a new desktop AI partner by Can Technology, marking a strategic shift from modular robotics to "human-machine symbiosis" [1] - DeskMate aims to address efficiency, focus, and stress relief in modern office environments through its unique "bionic role AI system," enabling natural interaction by understanding user emotions and context [1] - Can Technology has completed a new financing round exceeding 100 million yuan, led by Wuzhong Jin控 and Yuanhe Taihu Bay, with participation from notable investors and plans for further fundraising in February 2026 [1] Company Developments - Can Technology has been innovating in the robotics field for ten years and is now focusing on creating AI tools that grow emotionally and cognitively with users [1] - The company plans to use the funds from the upcoming financing round to enhance next-generation technology development and expand its global market presence [1] Product Features - DeskMate is designed to provide a natural interaction experience that goes beyond traditional command-based interfaces, aiming to improve user engagement and productivity [1] - The product's ability to perceive and respond to user emotions and contexts represents a significant advancement in AI technology for office applications [1]

Core Viewpoint - China National Railway Group (referred to as "the Company") is effectively managing operational risks and optimizing debt financing, leading to a steady decline in its debt-to-asset ratio, which is projected to reach 62.5% by the end of 2025 [3][4]. Financial Performance - By the end of 2025, the Company's total assets are expected to exceed 10 trillion yuan, reaching 10.2 trillion yuan, with a debt-to-asset ratio that has decreased for the sixth consecutive time [3][4]. - The Company's debt-to-asset ratio is projected to decline from 65.56% in 2023 to 63.52% in 2024, and further to 62.84% in the first half of 2025, returning to levels not seen in 13 years [3][4]. - During the 14th Five-Year Plan period, the Company's total assets increased by 17.1%, from 8.7 trillion yuan to 10.2 trillion yuan, while transportation revenue surged by 56.8%, from 650 billion yuan to 1.02 trillion yuan [4][5]. Revenue Growth - The growth in both passenger and freight volumes is expected to contribute to a significant increase in revenue, with total transportation revenue projected to exceed 1 trillion yuan for the first time, reaching 1.02 trillion yuan, a year-on-year increase of 3.1% [5][6]. - By 2025, the Company anticipates completing freight shipments of 4.066 billion tons, a 2.1% increase year-on-year, and passenger shipments of 4.255 billion people, a 4.2% increase year-on-year [4][5]. Cost Management - The Company has implemented strict cost control measures, optimizing expenditure structures and reducing non-productive spending, resulting in a budget savings of 19.7 billion yuan for the year [5][6]. - The Company has improved maintenance efficiency, achieving a 90% self-repair rate for level three maintenance and a 60% self-repair rate for level four maintenance [5][6]. Investment Strategy - The Company is focusing its investments on enhancing network efficiency, with a strategic emphasis on projects like the Western Land-Sea New Corridor and China-Europe Railway Express facilities, which are expected to yield quicker economic benefits [6][7]. - Future plans include optimizing capital layout and enhancing the quality of joint venture railway companies, while also managing overseas investment risks [6][7]. Future Outlook - The Company aims to continue improving operational management and advancing integrated operations, with a focus on transforming non-transportation sectors and nurturing enterprises with clear market positioning [6][7]. - The ongoing market-oriented reforms in railway passenger and freight transport are expected to sustain growth in both volume and quality, leading to further improvements in the Company's financial performance and a potential reduction in the debt-to-asset ratio [6][7].