当下，人工智能正以前所未有的速度，融入城市发展主基调中。2026年伊始，南京、苏州、常州三座江苏万亿GDP城市同步召开"新年第一会"，将发展 蓝图锁定AI人工智能这个科技创新领域，既紧扣人工智能产业发展主线，又立足自身禀赋明确差异化路径，体现江苏人工智能产业"多点支撑、全域协同"的 发展格局。 科创引领，南京锚定"AI+6G"双赛道 作为连续三年在"新年第一会"锁定新型工业化的城市，苏州今年将"AI+制造"推向核心位置，而常州则以"智能体+场景应用"为抓手，用"12345"发展体 系搭建了人工智能产业生态。在业界看来，两座城市的精准布局，为传统制造业智能化升级提供了鲜活样本。 1月4日，苏州市新型工业化推进会议暨"AI+制造"创新发展大会上，"5万亿元"的目标格外引人注目。这座2025年规上工业总产值预计达4.89万亿元的制 造业重镇，明确提出2026年突破5万亿元，有望成为继深圳之后第二个五万亿工业城市。 "向AI要增长、向AI要未来"，在1月4日召开的科技创新与产业创新深度融合发展大会上，南京市委书记周红波的表态，传递出这座科教名城抢占创新制 高点的决心。 作为江苏唯一获批创建国家人工智能创新应用先导区的 ...

赖特说，美国近期目标是通过提供重质原油稀释剂、零部件、设备和服务让委内瑞拉石油生产企稳并增长。他称，委内瑞拉石油日产量可能在近几年 增加数十万桶，但要回到历史高位仍需数百亿美元投资和"相当长时间"。美国将创造条件让美大型油企进入委内瑞拉。特朗普政府还考虑为在委投资的美 石油公司建立补偿机制。 当地时间1月6日，美国总统特朗普宣布，委内瑞拉临时政府将向美国移交3000万至5000万桶石油。这些石油将按市场价格出售，而所得资金将由特朗 普进行监管，以确保这些资金用于"造福委内瑞拉人民和美国人民"。 美国3日凌晨对委内瑞拉发动大规模军事打击，强行控制委总统马杜罗和夫人并将他们带到美国。特朗普政府宣称将"管理"委内瑞拉，掠夺委内瑞拉 丰富的石油资源被认为是其主要动机，在全球受到广泛抨击和谴责。 来源 新华社 央视新闻 据新华社，美国能源部长克里斯·赖特1月7日宣称，美国将"无限期"地控制委内瑞拉石油销售。 赖特当天在美国迈阿密举行的一个能源行业会议上作上述表述。曾长期在美国油气行业任职的赖特称，委内瑞拉石油的销售将由美国政府控制，不仅 包括库存，还包括今后"无限期"的销售。销售收入将存入美国政府控制的账户，然后这些资 ...

Core Viewpoint - Ping An Life has disclosed that it will increase its stake in Agricultural Bank of China H-shares to 20% by December 30, 2025, triggering a mandatory disclosure under Hong Kong market rules [1] Group 1: Investment Activities - This marks the fourth time Ping An Life has increased its stake in Agricultural Bank H-shares, having previously surpassed 5%, 10%, and 15% in February, May, and August 2025 respectively [4] - In 2025, Ping An Life also acquired 7.169 million shares of Postal Savings Bank H-shares, raising its stake to 5.01%, and subsequently increased its holdings to 10% and 15% in May and August [6] - Additionally, Ping An Life made multiple acquisitions of China Merchants Bank H-shares throughout 2025, surpassing 5%, 10%, 15%, and 20% in January, March, June, and December respectively [6] Group 2: Industry Trends - The enthusiasm for insurance capital to acquire shares has surged, with a total of 35 instances of share acquisitions in 2025, the highest since 2016 [5] - The preference for bank stocks among insurance companies is attributed to their average dividend yield exceeding 5%, which is significantly higher than the cost of liabilities (approximately 2% to 2.5%) [7] - The new financial instrument standards allow high-dividend bank stocks to be classified as FVOCI assets, reducing profit statement volatility [7] Group 3: Future Outlook - The trend of insurance capital actively acquiring shares is expected to continue into 2026, driven by low interest rates and the need for stable returns [8][10] - Analysts suggest that the motivations behind these acquisitions can be categorized into two types: one focused on stable dividend cash flows and the other on investing in mature, monopolistic enterprises with solid ROE [9][10] - The stock prices of major insurance companies have seen significant increases in 2025, with gains of 46.02% for New China Life, 35.87% for Ping An, and others [10]

Core Viewpoint - Ping An Life has disclosed that it will increase its stake in Agricultural Bank of China H-shares to 20% by December 30, 2025, triggering a mandatory disclosure under Hong Kong market rules [1]. Group 1: Investment Activities - This marks the fourth time Ping An Life has increased its stake in Agricultural Bank H-shares, having previously surpassed 5%, 10%, and 15% in February, May, and August 2025 respectively [4]. - In addition to Agricultural Bank, Ping An Life has also acquired shares in Postal Savings Bank and China Merchants Bank, with holdings reaching 5.01%, 10%, 15%, and 20% at various points in 2025 [6]. - Overall, in 2025, insurance capital made a total of 35 stake increases, the highest since 2016, indicating a growing trend in insurance investments [5][8]. Group 2: Reasons for Preference in Bank Stocks - Insurance companies are favoring bank stocks due to their average dividend yield exceeding 5%, which is significantly higher than the cost of liabilities (approximately 2% to 2.5%), making them attractive as "quasi-fixed income" assets [7]. - The new financial instrument standards allow high-dividend bank stocks to be classified in a way that stabilizes profit and loss statements, further encouraging investment [7]. - The stable performance and dividend consistency of bank stocks align with the long-term investment strategies of insurance companies, which seek value and stability [7]. Group 3: Future Outlook - The trend of insurance capital actively participating in equity markets is expected to continue, driven by low interest rates and regulatory support for long-term investments [8][10]. - Analysts suggest that the demand for bank stocks will persist, with insurance companies likely to focus on stable dividend-paying stocks and those with strong return on equity (ROE) [9][10]. - The stock prices of major insurance companies have shown significant increases in 2025, reflecting market confidence in the insurance sector's fundamentals [10].

Core Viewpoint - The founder of MAOGEPING, Mao Geping, along with family members and executives, plans to sell up to 17.2 million H-shares, representing 3.51% of the company's total issued shares, due to personal financial needs. The proceeds, estimated at approximately HKD 1.513 billion, will be used for investments in the beauty industry and personal improvements [2]. Group 1: Company Performance - MAOGEPING's stock price peaked at HKD 130.6 shortly after its listing, but has since declined, with a current market capitalization of HKD 43.112 billion, down approximately HKD 19.3 billion from its peak [4]. - For the first half of 2025, MAOGEPING reported revenue of HKD 2.588 billion, a year-on-year increase of 31.3%, and net profit rose by 36.1% to HKD 670 million [4]. - Makeup products contributed 55% of total revenue, amounting to HKD 1.422 billion, with a year-on-year growth of 31.1% [4]. Group 2: Product Performance - The base makeup category continues to perform strongly, with individual products like the luxury caviar cushion and soft-focus powder each exceeding HKD 200 million in retail sales [5]. - In the first half of 2025, MAOGEPING sold nearly 9.06 million makeup items, a 36.8% increase year-on-year, although the average selling price decreased from HKD 163.8 to HKD 157, a drop of over 4% [7]. Group 3: Financial Metrics - Skincare product revenue grew by 33.4% to HKD 1.087 billion, accounting for 42% of total revenue, while the new fragrance line contributed HKD 11 million, representing 0.4% [8]. - Marketing expenses significantly impacted profitability, with sales and distribution expenses reaching HKD 1.169 billion, representing 45% of sales. Marketing and promotional costs increased by 24% to HKD 540 million [9]. - Research and development costs decreased to HKD 15 million, with a corresponding R&D cost rate of 0.6%, down 0.2 percentage points year-on-year [10].

Core Viewpoint - As of December 2025, China's foreign exchange reserves reached $335.79 billion, marking an increase of $1.15 billion from the end of November, reflecting a growth rate of 0.34% [1] Group 1: Foreign Exchange Reserves - The foreign exchange reserves in China increased to $335.79 billion by the end of December 2025, up from $334.64 billion in November [1][2] - The rise in reserves is attributed to the depreciation of the US dollar index and fluctuations in global financial asset prices, alongside stable long-term economic conditions in China [3] Group 2: Gold Reserves - China's gold reserves reached 7.415 million ounces by the end of December 2025, an increase of 30,000 ounces from November, marking the 14th consecutive month of gold accumulation [2][3] - In 2025, China's total gold reserves increased by 860,000 ounces, reflecting a strong trend of central bank gold purchases globally [2][4] Group 3: Market Trends and Predictions - The global gold price saw a significant increase in 2025, with the London gold price rising over 60% throughout the year, driven by a restructuring of the monetary credit system and geopolitical tensions affecting the dollar's reserve status [3][4] - A survey by the World Gold Council indicated that 76% of central banks expect to increase their gold reserves over the next five years, up from 46% in 2022, highlighting a growing trend of gold accumulation as a hedge against inflation and economic uncertainty [4]

浓冬时节，香港交易所内一声浑厚铜锣鸣响，铿锵悠远，响彻整个交易大厅。 1月2日，港交所新年首个交易日，上海壁仞科技股份有限公司(简称"壁仞科技")正式登陆资本市场，不仅一举摘得"港股GPU第一股"的桂冠，更以"开门 红"之势，成为2026年港股市场的首只上市新股。聚光灯下，身着深蓝色西装、搭配淡蓝色领带的壁仞科技创始人张文，与核心团队共同迎来了六年创业 征程中至关重要的里程碑时刻。 作为国产AI芯片代表企业，壁仞科技(股票代码：06082.HK)的上市之路始终牵动着市场目光。上市首日，其开盘即报35.7港元/股，较19.6港元的发行价大 涨82.14%，期间市值一举突破千亿港元；截至当日收盘，股价定格在34.46港元/股，涨幅达75.82%，总市值攀升超过800港元。 潜行六年，一朝蝶变。时间回溯至2019年9月，壁仞科技由前商汤科技总裁张文跨界创立。彼时，其精准洞察到AI时代潜藏的巨大算力缺口，随即集结英 伟达、AMD等全球顶尖芯片企业的技术菁英，组建起一支硬核研发团队。而其锚定的赛道，正是当下全球科技竞争的焦点、兼具极高战略价值的高性能 GPU(图形处理单元)领域。 从技术属性来看，GPU是一种专为并行计 ...

Core Insights - The East China branch of State Grid Corporation has successfully exceeded its green electricity trading target for Shanghai in 2025, achieving a total of 9.185 billion kilowatt-hours, surpassing the initial demand estimate of 9 billion kilowatt-hours [1][4]. Group 1: Green Electricity Supply and Demand - The Shanghai Municipal Economic and Information Commission estimated a green electricity demand of approximately 9 billion kilowatt-hours, while local supply was insufficient, providing less than 1 billion kilowatt-hours [1]. - To address the supply gap, the East China branch collaborated with Shanghai Electric Power Company to expand green electricity resources from outside the region [3]. Group 2: Cross-Regional Green Electricity Transactions - In the first quarter of 2025, the first cross-grid green electricity transaction was successfully completed, with Guangxi supplying 0.53 billion kilowatt-hours to Shanghai, establishing a new channel for green electricity [3]. - The East China branch coordinated the delivery of 5.13 billion kilowatt-hours of green electricity from Northeast China, including Heilongjiang and Jilin, to Shanghai [4]. - A total of 74.88 billion kilowatt-hours of cross-regional green electricity was traded in 2025, marking a 56% increase year-on-year [4]. Group 3: Regional Cooperation and Trading Mechanisms - The East China branch has initiated a green electricity mutual assistance mechanism among provinces in the Yangtze River Delta, enhancing the efficiency of local green electricity resource utilization [5]. - In 2025, green electricity transactions from Anhui and Jiangsu reached 9.03 billion kilowatt-hours, six times the previous year's scale, with Shanghai users purchasing 8.47 billion kilowatt-hours, accounting for 93.8% of inter-provincial green electricity transactions in East China [5]. - A special plan was developed for the eighth China International Import Expo, facilitating the delivery of 1.3 billion kilowatt-hours of green electricity from Anhui and Jiangsu to Shanghai, contributing to a monthly green electricity consumption exceeding 1 billion kilowatt-hours [5]. Group 4: Future Plans - The East China branch aims to further improve the inter-provincial electricity mutual assistance market mechanism and optimize the green electricity trading process and platform functionality to support Shanghai's green and low-carbon development [6].

1月7日，2026年上海家电消费"国补"第一轮中签的"幸运儿"陆续诞生，线下门店迎来消费热潮。在 苏宁易购浦东第一店，顾客林先生选购了一台卡萨帝高端冰箱，率先受益于"以旧换新"国补政策。 记者从上海市商务委获悉，2026年开年，备受上海市民关注的新一轮家电以旧换新及数码产品购新 补贴活动，已于近日正式启动。 上海将按照"消费者报名、公证摇号、中签发券"的方式，开展家电以旧换新、数码和智能产品购新 补贴活动，原则上每两周开展一轮报名。第一轮报名时间为2026年1月1日8时至5日20时，发券时间为1 月7日12时至24时，核销时间为补贴资格券到账后14天。 记者了解到，包括京东在内的多个线上线下平台已全面承接国家补贴的落地实施，并纷纷推出配套 服务，为市民的"焕新"之路提供更多便利。 根据活动规则，市民购买指定的冰箱、洗衣机、电视、空调等6类家电产品，单件最高可获补贴 1500元；购买手机、平板、智能手表等4类数码产品，单件最高可获补贴500元。 "不止浦东门店，从今天中午开始，上海地区其余门店也已陆续开单。我们将借此机会，推动绿色 智能家电走进更多上海家庭，助力消费升级。"上海苏宁易购门店运营中心总经理闵旗表示 ...

Core Insights - 2025 remains a year of strict regulation for payment institutions in China, with multiple third-party payment companies facing significant penalties for various violations [1][6] - The People's Bank of China (PBOC) has indicated that regulatory measures will become even stricter in 2026, focusing on comprehensive oversight of payment processes and combating fraud and money laundering [1][6] Group 1: Penalties and Violations - Guangzhou Heli Bao Payment Technology Co., Ltd. received the largest penalty in 2025, totaling 74.8799 million yuan due to multiple violations including breaches of clearing management and merchant management regulations [2][3] - Other companies such as Hu Yuan Yin Tong and Zhong Tong Payment also faced substantial fines, with Hu Yuan Yin Tong penalized 24.3142 million yuan for issues related to prepaid cards and account management [2][3] - Zhong Tong Payment was fined 18.9452 million yuan for failing to establish proper network interface protocols and customer due diligence, highlighting systemic risks in payment processes [3][6] Group 2: Regulatory Environment - The PBOC's 2026 work meeting emphasized the need for stringent implementation of penetrating supervision and functional regulation of payment institutions, aiming to tackle fraud and virtual currency activities [1][6] - The regulatory framework is set to increase penalties for serious violations, with a focus on holding responsible individuals accountable through a "double penalty" system [7][8] - Analysts note that the ongoing issues in the payment industry, particularly in anti-money laundering and merchant management, indicate a need for improved compliance and risk management practices among payment institutions [7][8]