"元旦就订满了""现在最早只有大年初七的位置了"……随着马年春节脚步临近，年夜饭市场持续升温。 中国证券报记者日前询问多家餐厅发现，在年夜饭时段，这些餐厅不少门店的包间早已被预订一空。记 者采访了多家餐厅负责人、上门私厨工作人员，探寻年夜饭预订火爆背后，商家如何捕捉市场需求，解 锁"团圆生意经"。 深耕家乡味道 寒冷的冬夜里，北京隆福寺新春市集上，北京福州宾馆、联营烧麦、老川办餐厅等摊位前人头攒 动。"福州小吃，鱼丸、肉燕、芋泥，可以两拼、可以三拼！"几口装着丸子肉片的大锅热气蒸腾，白雾 瞬间凝结在围观客人的眼镜上。 生意的红火，清晰地映在老板脸上。北京福州宾馆经理、负责人杨明明笑着打开收款统计App，向记者 展示这份冬日的收获："你别看天气这么冷，也卖了7000多（元）。" 对于在异乡过年的人来说，那口最地道的"家乡味"成了不可或缺的乡愁寄托。深耕家乡味道，正是不少 餐厅年夜饭经营的关键所在。 除了参与市集售卖，在年夜饭经营上，杨明明介绍，与平时餐厅以闽菜为主、融合菜为辅的经营方针不 同，今年年夜饭套餐均是闽菜，以契合消费者过年对家乡味的期待。"去年12月，我们就开始准备年夜 饭工作，今年包间很早就被订满了 ...

红色基因铸魂，金融报国立志；三十年薪火相传，"十五五"时代使命在肩。 党的二十届四中全会召开以来，光大证券积极贯彻落实党的二十届四中全会精神，制定学习宣传贯彻党 的二十届四中全会精神的工作方案，党委班子成员深入基层联系点，分层组织公司干部员工参加"学习 贯彻党的二十届四中全会精神集中轮训"，基层党组织依托"三会一课"、主题党日活动等开展780余次集 体研学，面向基层干部员工累计开展近260次集中宣讲活动。 独行快，而众行远，协同共生聚合力。赵陵表示，公司坚持均衡发展思路，聚焦提升核心竞争力，发展 保持良好韧性，经营业绩稳中有进；公司充分依托光大集团在综合金融、产融协同、跨境经营等方面的 特色优势，厚植"一个客户、一个光大、一体化服务"协同理念，"十四五"期间与光大银行重点区域分行 实现联合融资规模近千亿元。 ● 本报记者 林倩 回归金融服务实体经济本源 红色基因是光大证券的根与魂。作为中管金融系券商，红色底色是光大证券的重要政治优势，公司始终 坚持和加强党的全面领导，近年来经过两轮中央巡视、集团巡视及内外部审计洗礼，内部政治生态得到 净化，机制运行更加规范，严管氛围持续强化。 "2022年以来，光大证券始终践 ...

Core Viewpoint - The banking sector is experiencing a renewed wave of deposit acquisition strategies as the Spring Festival approaches, with many small and medium-sized banks raising deposit rates and introducing innovative products to attract customers, in response to the upcoming 2026 deposit maturity wave [1][4]. Group 1: Deposit Rate Adjustments - Several banks have raised their deposit rates, with some offering rates as high as 1.95% for three-year fixed deposits, reflecting a 10 basis point increase from previous rates [2]. - Banks are implementing differentiated adjustments for various term deposits, with increases ranging from 5 to 30 basis points depending on the amount and term [2]. - The trend of raising deposit rates is particularly pronounced among city commercial banks, rural commercial banks, and village banks, while larger state-owned banks maintain stable rates [4]. Group 2: Innovative Deposit Incentives - In addition to raising rates, banks are launching promotional activities such as offering gifts like rice, cooking oil, and shopping vouchers to attract depositors [3]. - A notable initiative includes a "Deposit for Travel Expenses" program, where depositors can receive reimbursements for travel costs when making fixed deposits above a certain amount [3]. Group 3: Asset Under Management (AUM) Focus - Some banks are shifting their focus from merely acquiring deposits to increasing their overall asset management scale (AUM) by offering incentives for customers to grow their financial assets [5]. - Programs that reward customers for increasing their average financial assets are being introduced, indicating a strategic pivot towards comprehensive wealth management [5]. Group 4: Future Deposit Trends - Analysts predict a significant wave of deposit maturities in 2026, with potential shifts in where these funds will be allocated, including a movement towards low-risk asset management products and possibly equities [6]. - The People's Bank of China notes that while there may be a perception of deposit "loss," these funds are likely to return to the banking system through various channels, including asset management products [7][8].

Core Viewpoint - The total dividend amount distributed by listed companies before the Spring Festival has exceeded the previous year, reaching a new high of 348.8 billion yuan, indicating a strong commitment to enhancing investor returns and satisfaction [1] Group 1: Dividend Distribution Overview - From December 2025 to January 2026, 235 listed companies on the Shanghai and Shenzhen stock exchanges distributed a total of 348.8 billion yuan in dividends before the Spring Festival, surpassing the 344.6 billion yuan from the previous year [1] - The financial and consumer sectors remain the primary contributors to dividend distributions, with banking companies alone distributing 243.4 billion yuan, accounting for nearly 70% of the total [1][2] Group 2: Industry-Specific Insights - Major banks, including China Merchants Bank and Industrial Bank, have joined the trend of pre-Spring Festival dividends, distributing a total of 37.5 billion yuan [2] - Leading consumer companies such as Kweichow Moutai, Wuliangye, and Haitian Flavoring & Food have collectively distributed 44.8 billion yuan in dividends, reflecting their commitment to enhancing intrinsic value and investor confidence [3] Group 3: Changes in Dividend Timing - The timing of dividend distributions has shifted earlier, with a total of 264.7 billion yuan distributed in December 2025, which is 3.7 times the amount from December 2024, and now accounting for over 70% of the total pre-Spring Festival dividends [4] - Major banks have also advanced their dividend payments to December 2025, with a combined total of 189.9 billion yuan [4] Group 4: Private Company Dividend Trends - The willingness of private listed companies to distribute dividends has significantly increased, with a total of 61.6 billion yuan distributed, representing a year-on-year growth of 130% and an increase in their share of total dividends from 8% to 18% [5] - Notable private companies such as Industrial Fulian, Gree Electric, and Yili have also initiated pre-Spring Festival dividends for the first time, distributing 6.6 billion yuan, 5.6 billion yuan, and 3 billion yuan respectively [5]

Core Viewpoint - The Chinese government has issued an implementation opinion to improve the national unified electricity market system, aiming for a market where all types of power sources and non-essential users participate directly by 2030, with market transactions accounting for approximately 70% of total electricity consumption [1][2]. Group 1: Optimization of Electricity Market System - The opinion proposes a transition from "individual pricing and trading" to "unified pricing and joint trading" across different market levels, exploring feasible ways for adjacent provincial markets to voluntarily unite or integrate [2]. - Specific requirements for the connection mechanisms between different market categories, including spot, medium to long-term, ancillary services, and capacity markets, have been outlined [2]. Group 2: Cross-Provincial and Cross-Regional Trading - The opinion emphasizes the normalization of cross-grid market transactions, increasing the scale of cross-provincial and cross-regional power transmission, and enhancing the proportion of clean energy delivery [2]. - It aims to promote nationwide interconnectivity of the electricity market and facilitate a large-scale circulation of electricity resources [2]. Group 3: Capacity Market and Renewable Energy Participation - The establishment of a capacity market is proposed to support coal power, pumped storage, and new energy storage resources in facilitating high proportions of renewable energy consumption [2]. - The opinion outlines differentiated market entry paths for various forms of renewable energy projects, including distributed energy and large-scale renewable bases, to better meet the needs of export-oriented and foreign-funded enterprises [2]. Group 4: Participation of Private Enterprises - Measures are proposed to encourage private enterprises, particularly in new energy storage, virtual power plants, and smart microgrids, to flexibly participate in market transactions [3]. - The opinion aims to gradually enable all electricity users, except for essential users, to participate directly in the electricity market, moving beyond the current model where small and medium-sized commercial users only accept market prices [3].

Group 1 - The resource sector has strengthened again, with multiple rare metal-themed ETFs rising over 3%, and mining, non-ferrous, gold, rare earth, and chemical ETFs generally increasing over 2% [1] - After significant gains, the film, media, and online consumption ETFs experienced a collective pullback, with the film ETF (159855) dropping nearly 6% [1] - AI application-related sectors saw a surge, with over 1.3 billion yuan net inflow into ETFs tracking the film and media indices on February 10 [1] Group 2 - Huatai Fund suggests gradually shifting focus to post-holiday market trends, emphasizing three main lines: AI hardware driven by overseas influences, high-end manufacturing in new energy and innovative pharmaceuticals, and domestic price increase chains in chemicals, building materials, and steel [2] - Fuguo Fund recommends focusing on sectors with high elasticity and growth potential, such as electronics, computers, and communications, which are sensitive to liquidity improvements and rising risk appetite [2]

盛秋平表示，各部门、各地区也将充分整合各领域优质消费资源，推出一批惠民举措。各地已经安排 20.5亿元资金，在9天假期内，通过发放消费券、补贴、红包等形式，直接惠及广大消费者。 谈及春节期间做好老百姓生活必需品市场供应，商务部市场运行和消费促进司司长杨沐表示，一方面， 强化货源组织；另一方面，加强储备调节。据商务大数据监测，节前全国生活必需品市场供需两旺，价 格总体平稳，2月9日全国重点连锁超市粮油、肉类、鸡蛋库存较上月同期均增加20%以上，蔬菜库存增 加7.7%。 "金融机构是'乐购新春'活动的重要参与者。金融监管总局引导金融机构优化资源配置，加强金融产品 和服务创新，聚焦消费重点领域和环节，提供高效、精准、便捷的金融服务，满足人民群众多样化的消 费金融需求。重点根据不同消费方式，提供有针对性的金融服务。"金融监管总局新闻发言人、政策研 究司司长郭武平说。 "下一步，金融监管总局将继续加强政策引领，鼓励金融机构加大消费领域资源投入，丰富消费金融产 品，提升消费金融服务质效，为更好发挥消费对经济发展的基础性作用提供有力支撑。"郭武平表示。 ● 本报记者王舒嫄 2月11日，国新办举行新闻发布会，介绍2026年" ...

Group 1 - The A-share market is currently experiencing a clear risk-averse sentiment and structural differentiation, with funds favoring high-dividend, low-valuation, and defensive consumption sectors, while technology and cyclical sectors continue to adjust [1][2] - The market is showing significant structural differentiation, with defensive sectors acting as a "safe haven" for funds, leading to a notable decline in trading activity and a shift of capital from high-valuation technology and cyclical sectors to more stable assets [1][2] - The upcoming Chinese New Year is expected to influence market behavior, with historical trends indicating a preference for high-dividend and defensive sectors before the holiday, while post-holiday, the market may favor small-cap and growth styles [2][3] Group 2 - The current industry structure is transitioning from a traditional factor-driven growth model to a new productivity development model centered on technological innovation [2] - Investors are weighing the strategies of "holding stocks during the holiday" versus "holding cash for safety," with the former focusing on potential policy catalysts and liquidity, while the latter aims to avoid short-term volatility [3] - Post-holiday, the market is expected to shift focus back to growth sectors with industry catalysts and earnings certainty, driven by policy catalysts in February and earnings disclosures in March [3][4] Group 3 - Earnings forecasts indicate a shift in the logic of A-share market growth for 2026, with profitability expected to take precedence over valuation, highlighting structural opportunities in technology manufacturing and cyclical industries benefiting from price increases [4] - Two main investment themes are suggested: one focusing on the improvement of supply-demand dynamics and industry profitability, and the other on new productivity areas such as semiconductors, artificial intelligence, and renewable energy [4] - The overall market tone for 2026 is expected to remain bullish, with a focus on technological innovation and profitability recovery, supported by domestic consumption and overseas expansion as auxiliary themes [4]

● 本报记者 齐金钊 亚太经合组织（APEC）第三十三次领导人非正式会议将于2026年11月在深圳举行。深圳提出，将扛起 APEC会议举办城市责任，乘势而上提升城市国际化水平和开放能级。在今年深圳两会期间，围绕 APEC会议举办的历史机遇，深圳两会代表委员们积极建言献策。 提升城市国际化水平 深圳市政府工作报告提出，深圳要坚持全球视野、中国气派、岭南风格、深圳特色，简约精彩高效服务 办好一次专业规范、成果丰硕、安全圆满的高水平盛会；充分展示热情友好、开放自信、包容大气的文 明形象，众志成城"办好APEC、当好东道主"。 深圳市政协委员张世春建议，打造国际人才服务"深圳样板"，搭建"一站式"服务平台。同时，升级智慧 便捷的"深圳服务"，优化外籍人员数字体验与交通医疗保障；强化对企业全球化发展的支撑，整合专业 资源搭建海外综合服务平台。借助APEC契机深化亚太区域合作，完善跨境金融与商事纠纷调解服务。 深圳市政协委员、深圳市柏斯工业设计有限公司总裁商剑锋认为，深圳作为"设计之都"与"科技创新中 心"，有责任在城市公共设施中作出示范。他建议，在APEC会场周边街道及交通枢纽，通过"设计+科 技"融合，打造如智能休憩 ...

Core Insights - Shenzhen aims to become a global leader in the artificial intelligence (AI) industry, with a target of over 10% growth in AI industry cluster value added by 2026 [1] - The city has over 2,600 AI enterprises and anticipates core AI industry revenue of approximately 220 billion yuan by 2025, maintaining its position among the top tier in the country [2] Industry Developments - Shenzhen has made significant breakthroughs in AI, including advancements in foundational computing power and the commercialization of edge AI chips [2] - The National Supercomputing Center in Shenzhen is set to achieve the world's top computing performance by December 2025, with a projected 16,000P computing cluster by October 2023 [2] - The city has issued its first batch of AI vouchers to reduce the cost of computing power for AI entities [2] Talent and Funding - The establishment of the National AI Academy in Shenzhen has selected 114 dual-appointed professors, with the first cohort of 237 students expected by September 2025 [3] - A venture capital fund of 50.45 billion yuan will be launched in December 2025, focusing on AI and other emerging sectors [3] Strategic Goals - Shenzhen aims to enhance its AI supply chain advantages and become a leader in autonomous computing technology and innovative smart terminal solutions [3] - The city is focused on three key areas: AI inference chips, AI-native hardware, and AI business models, to lead the fourth industrial revolution [4] Challenges and Recommendations - Despite progress, challenges remain in data integration, core technology autonomy, and cross-system collaboration [5] - Recommendations include strengthening high-level AI applications across all sectors, promoting vertical integration, and implementing regulatory innovations to facilitate AI development [5][6]