追寻英雄足迹 汲取奋进力量 学员们沿着张富清英雄的足迹，实地探访狮子桥水库、刘家坝发电站、半山湾水渠等民生工程，在那个物资匮乏的年代，张富清带领群众肩挑背扛、开山劈 石，以血肉之躯凿通发展动脉，用"越是艰险越要向前"的突击精神筑坝引水、开渠灌溉，彻底解决山区群众农田灌溉、用水用电难题。学员们透过仍在轰鸣 作响的发电站，深切体悟到老英雄"组织需要就是人生方向"的赤诚初心，表示将继续以张富清同志为榜样，积极弘扬奉献精神，做张富清老英雄的"初心接 力者"。 缅怀英雄先烈 传承红色基因 大家怀着崇敬之情步入张富清初心纪念园，遵循老英雄"葬在奋斗过的地方"遗愿，这里紧邻狮子桥水利水电工程遗址。全体学员整齐列队肃立，在刻有"永 丰战役爆破手 脱贫攻坚排头兵"的卧碑前，依次向墓碑敬献素菊，寄托无尽哀思。 忠魂铭刻烽烟 星火永照征途 为持续深入巩固拓展主题教育成果和党纪学习教育成果，扎实推进深入贯彻中央八项规定精神学习教育，在习近平总书记对张富清同志先进事迹作出重要指 示六周年之际，5月21日，建信期货在来凤县举办了首期"学习张富清同志先进事迹 培育和弘扬中国特色金融文化"党性教育培训班，公司30余名党员干部、 党务骨干、统 ...

Core Viewpoint - The article highlights the improvement of educational environments in Fubang Township, Yunnan, through a donation from Haizheng Futures Co., Ltd., aimed at enhancing local education and promoting sustainable development in the region [1] Group 1: Company Initiatives - Haizheng Futures donated 50,000 yuan to Fubang Township Central Primary School for educational environment improvement projects [1] - The company is implementing a comprehensive support strategy that includes industry, consumption, intelligence, and public welfare, referred to as a "four-in-one" assistance model [1] - The initiative aims to integrate modern financial services into the revitalization efforts of ethnic minority areas, showcasing a commitment to social responsibility [1] Group 2: Educational Impact - The donated funds will be used to renovate classrooms, update desks and chairs, and improve lighting and sanitation conditions, thereby enhancing the teaching environment for both teachers and students [1] - The belief that improving education is essential for fostering hope and that financial empowerment is crucial for building a solid foundation for sustainable development is emphasized [1] - The article illustrates a vision of clean classrooms and thriving agricultural landscapes, symbolizing the positive impact of financial support on local communities [1]

作为原国家级贫困县、西海固核心区，西吉县虽已脱贫摘帽，但部分乡村仍面临道路破损、照明不足、 污水治理难等民生短板，同时特色产业亟需提质增效。海证期货此次帮扶精准回应这一现实需求：资金 既可用于修缮村道、安装路灯、改造危房，也可投入垃圾污水处理和村庄绿化；既支持肉牛、家禽养殖 等传统产业，也助力农副产品展示展销示范点建设，打通"产—销"最后一公里。 如今，在六盘山西麓的黄土地上，综合帮扶的种子已然播下。海证期货以务实、系统、有温度的行动， 诠释着社会力量参与国家乡村振兴战略的深度与担当。 在曾以"苦瘠甲天下"闻名的宁夏西吉县，一场润物无声的综合帮扶正在兴平乡展开。近日，海证期货有 限公司向兴平乡人民政府捐赠7万元定向帮扶资金。这笔资金不局限于单一项目，而是统筹用于基础设 施改善、人居环境提升、特色产业扶持等领域，为乡村振兴重点帮扶县注入系统性支持。 据兴平乡政府反馈，项目实施后将惠及多个行政村，直接受益群众覆盖脱贫户、养殖户、学生等多个群 体。一座展销示范点，可带动数十户农户增收；一盏路灯，照亮村民夜归路——这些看似微小的改变， 正汇聚成乡村振兴的坚实力量。 更值得一提的是，协议明确允许帮扶资金与地方其他资金整 ...

12月19日，日本央行如期加息，意味着此前暂停的紧缩步伐重新启动，背后是日本通胀压力上升。日本 央行加息后，日元汇率继续贬值，日本央行试图通过加息减缓日元贬值的意图短期没有实现；日本股市 高位震荡，相比日元汇率和日本债市，走势相对坚挺。 日元汇率持续贬值表明市场担忧日本经济的结构性问题，货币紧缩和财政扩张叠加输入性通胀意味着日 本高通胀及债务可持续性问题会影响日本经济表现。日本股市走势坚挺代表日本股市结构性改革、AI等 科技红利和外资流入的一面，但涨势可能很难持续，日本央行减持ETF和货币政策持续紧缩最终会冲击 日本股市。 日元汇率贬值反映市场对通胀和债务的担忧 从日本股市表现来看，日本央行12月19日宣布加息后，日经225指数止跌回升。从经济基本面看，增长 动力不强。数据显示，2025年三季度，日本GDP环比折年率下滑2.3%，创2023年四季度以来最大季度跌 幅。其中，日本私人消费环比折年率仅增长0.8%，远低于去年同期的2.2%。进入四季度，日本居民消费 继续走弱。10月，日本两人及以上家庭月消费性支出同比下降3%，较9月仅增长0.3%。 日本股市表现坚挺，是受企业盈利改善、制度性改革、货币政策环境及外 ...

Core Viewpoint - The People's Bank of China and several government departments have issued guidelines to enhance financial support for the construction of the Western Land-Sea New Corridor, focusing on improving financial collaboration, creating a high-quality financing system, and promoting institutional reforms [1]. Group 1: Financial Support Measures - The guidelines propose 21 key measures to leverage financing and settlement functions to support the high-quality development of the Western Land-Sea New Corridor [1]. - The measures include supporting regions to conduct futures bonded delivery and standard warehouse receipt pledge financing under bonded supervision for commodities like crude oil [1]. - Financial institutions are encouraged to develop products tailored to the shipping industry's needs, enhancing comprehensive financial services at modern ports [1]. Group 2: Futures Market Opportunities - The futures market can utilize the unique advantages of the Western Land-Sea New Corridor to enhance the construction of delivery and bonded warehouses, and to introduce international futures and options products targeting the ASEAN market [2]. - Business models such as warehouse receipt pledges and basis trading can provide financing support and risk management services to small logistics and trade enterprises, effectively reducing logistics costs [2]. - The establishment of cross-border bonded delivery warehouses is expected to support the large-scale development of bulk trade in the western region, enhancing the internationalization of the futures market [3]. Group 3: Currency and Risk Management - The guidelines encourage cross-border trade in bulk commodities to be settled in RMB, enhancing the risk management capabilities of RMB-denominated futures and options [3]. - Financial institutions are required to provide comprehensive financial support for cross-border trade and the bulk commodity supply chain, enabling futures firms to offer risk management services [3]. - The expansion of the RMB's cross-border usage is anticipated to accelerate the launch of RMB foreign exchange futures, aiding enterprises in managing exchange rate risks in cross-border trade [3].

Core Viewpoint - The People's Bank of China emphasizes the need for continued moderate monetary policy to support high-quality economic development and address challenges in the current economic environment [1] Monetary Policy - The monetary policy has been appropriately loose this year, with a focus on counter-cyclical adjustments and the use of various monetary policy tools to support the real economy [1] - The effectiveness of the loan market quotation rate reform is being realized, and the market-oriented adjustment mechanism for deposit rates is functioning effectively [1] - The cost of social financing remains at historically low levels, enhancing the efficiency of monetary policy transmission [1] Economic Environment - The external economic environment is increasingly challenging, with insufficient growth momentum in the global economy, rising trade barriers, and divergent economic performances among major economies [1] - Domestic economic operations are generally stable, with progress in high-quality development, but challenges such as strong supply and weak demand remain prominent [1] Future Outlook - The meeting calls for the continuation of moderately loose monetary policy and increased efforts in counter-cyclical and cross-cyclical adjustments [1] - There is a need to better utilize the dual functions of monetary policy tools in terms of both quantity and structure, and to enhance coordination between monetary and fiscal policies to promote stable economic growth and reasonable price recovery [1]

Core Viewpoint - The release of the "Encouraging Foreign Investment Industry Catalog (2025 Edition)" by the National Development and Reform Commission and the Ministry of Commerce aims to attract and utilize foreign investment more effectively, focusing on advanced manufacturing, modern services, high-tech, and energy-saving sectors, as well as promoting investment in the central and northeastern regions of China [1][2]. Group 1: Changes in the Encouraging Catalog - The new catalog includes a total of 1,679 entries, with a net increase of 205 entries and 303 modifications compared to the 2022 version [1]. - The national catalog consists of 619 entries, with 100 new entries and 131 modifications, while the regional catalog for central and northeastern regions includes 1,060 entries, with 105 new entries and 172 modifications [1]. Group 2: Focus Areas for Foreign Investment - The catalog encourages foreign investment in advanced manufacturing by adding or expanding entries related to end products, components, and raw materials, thereby enhancing the development level of the industrial and supply chains [2]. - It promotes foreign investment in modern services by adding or expanding entries in business services, technical services, scientific research, and service consumption, which supports high-quality development in the service sector [2]. - The catalog also aims to attract foreign investment to the central and northeastern regions and Hainan Province, expanding the scope of encouragement based on local resource endowments and industrial development [2]. Group 3: Government Initiatives - The National Development and Reform Commission plans to enhance guidance and coordination to ensure the implementation of policy measures, creating a market-oriented, legal, and international business environment for foreign investors [2][3]. - The government will leverage major foreign investment projects to open green channels and expedite the construction of these projects, addressing issues related to land use, environmental assessments, and energy consumption [3]. - There will be initiatives to improve foreign enterprises' satisfaction by addressing their investment and operational challenges through various channels and enhancing communication with foreign investors [3]. Group 4: Economic Implications - The revision of the catalog sends a clear signal of China's commitment to opening up further, which is expected to stabilize foreign investment expectations and confidence [2][3]. - Foreign investment is anticipated to play a more active role in stimulating domestic consumption and introducing advanced business models, thereby enhancing the availability of high-quality goods and services to meet diverse consumer demands [3].

秦园春告诉期货日报记者，公司在区域化人才培养上持续发力，形成了三方面核心优势：一是参赛高校 协同性显著增强，5所院校覆盖本科、高职等不同办学层次，并吸引了金融、经济、管理等多专业学生 同台竞技，构建了立体化的参赛网络；二是学生交易与学习积极性大幅提升，众多参赛者从启动阶段坚 持至赛事收官，展现出持续学习的热情与探索精神；三是校企联动更为紧密深入，公司从赛事组织、培 训辅导到全程陪伴，角色已从"协作方"升级为"育人伙伴"，切实推动了从"学生单纯参赛"到"校企协同 育人"的模式转变。 值得一提的是，融达期货的校园投教布局并不仅限于"郑商所杯"赛事。公司坚持"常态化、多元化、精 准化"的原则，将投资者教育有机融入高校人才培养过程。公司一方面完善课程合作机制，例如与广西 某高校达成长期协议，将学生参与"郑商所杯"的表现计入选修课实践学时，有效激发了学生的参与积极 性和内生动力。另一方面打造系列主题投教品牌活动，紧密围绕"3·15"消费者权益日、"5·15"全国投资 者保护宣传日、金融知识普及月等重要节点，联合高校开展涵盖期货知识、风险案例警示等内容的专题 活动。在内容与形式设计上，公司充分考虑大学生"好奇心强、互动意 ...

郑州期权交易者廖伟对记者表示，"郑商所期权专项奖"在普及期权知识、市场培育以及提升产业企业、 投资机构、投资者对期权品种的了解方面，发挥了积极作用。一方面，期货公司围绕该奖项开展投资者 教育活动，通过官网、微信公众号、视频号等多平台传播，促进了期权知识的广泛普及；另一方 面，"郑商所期权专项奖"的评分体系科学全面，综合考虑交易收益和回撤，引导参赛者形成稳健的交易 策略和习惯。 据杨伟介绍，2025年8月至9月，中财期货分别在河北沧州、新疆喀什、陕西渭南举办了三期"稳企安农 护航实体"产业风险管理交流会，邀请红枣和苹果产业链专家分享如何运用期权帮助企业降本增效，上 百家产业企业的代表现场参会，并围绕期权应用展开讨论。另外，为了贯彻落实中央一号文件精神，积 极响应期货市场服务"三农"的号召，中财期货自2020年起开展了多个"保险+期货"项目。以苹果"保险 +期货"项目为例，中财期货为客户提供了"触碰锁定"——增强亚式平值看跌期权结构，设定低于执行价 的障碍价格。若采价期内某交易日的收盘价低于障碍价格，则以观察期的结算价格最高不超过障碍价格 帮助客户锁定下跌收益，避免价格回涨影响赔付效果。当后续收盘价低于障碍价格时 ...

Group 1 - The core factor behind the recent decline in methanol prices is the deepening structural oversupply, marking a shift from traditional demand-driven growth to a new market logic dominated by resource competition and inventory dynamics [2][4] - The global methanol supply landscape has transformed into a "tripod" structure, with China, the Middle East (led by Iran), and the United States as the three main players, each influencing trade flows and pricing benchmarks [3][4] - China's domestic market is characterized by rising supply driven by high operational rates of coal-based methanol production, supported by low coal prices, which has led to a historical high in production rates and consequently suppressed prices [5][8] Group 2 - By 2026, the domestic methanol supply structure will exhibit significant differentiation, with new capacity primarily coming from green methanol and traditional production, but actual market impact may be limited due to integration with downstream facilities [8][9] - The overseas methanol market is shifting towards a phase dominated by inventory dynamics and geopolitical risks, with a notable slowdown in supply growth and a focus on the operational efficiency of existing facilities [11][13] - The global methanol market is characterized by a "dual structure," where production in overseas markets relies heavily on natural gas, while China's coal-based production creates a unique cost structure, making China's supply elasticity and cost logic largely independent of international markets [14][15]