据新华社电 黄金价格今年屡创新高，助长了韩国人购买黄金的热情。 据报道，岁末年初礼尚往来对黄金的需求，叠加担心错过上涨行情的焦虑情绪，致使市场预测金价将持 续上涨一段时间。除"黄金银行"外，近期黄金交易所交易基金（ETF)同样受韩国人追捧。 韩国《朝鲜日报》25日报道，国民银行、新韩银行和友利银行的"黄金银行"账户总余额已接近1.91万亿 韩元（约合92.44亿元人民币）。这一数字比9月底金价开始飙升时增加近5000亿韩元（24.2亿元人民 币）。 ...

Group 1 - The bond market has shown significant differentiation since mid-November, with the yield spread between 30-year and 10-year government bonds widening to over 40 basis points due to lower-than-expected central bank bond purchases and strong profit-taking by institutions [1] - After a continuous decline, long-term bonds began to recover in late December, driven by expectations of loose monetary policy and various market influences, including potential reductions in long-term bond issuance [1][3] - The low interest rate environment is expected to persist into 2026, with increasing influence from asset pricing and institutional behavior on the bond market, while traditional allocation strategies face pressure from interest rate risk assessments [3][4] Group 2 - Fiscal policy is anticipated to remain proactive, while monetary policy will focus on coordination, with expectations for a deficit level around 4% and a corresponding scale of 5.9 trillion yuan [3] - The supply of bonds is projected to increase in 2026, but the marginal growth rate is expected to slow down, with a likelihood of one rate cut of 10 basis points and one reserve requirement ratio reduction [3][5] - The yield curve is expected to steepen further, with the 30-year and 10-year bond yield spread likely to remain elevated, and the market is facing uncertainties regarding central bank bond purchases and public fund redemption rates [5]

Group 1 - The bond market experienced fluctuations in December, with weak performance particularly in the ultra-long end, and the year-end allocation market has not yet emerged [1] - As of December 24, the 10-year and 30-year government bond yields were reported at 1.8370% and 2.22%, respectively, reflecting increases of 0.8 and 4 basis points since the end of November [1] - The yield spread between the 30-year and 10-year government bonds has generally trended upward since September 2024, with significant fluctuations observed [1][2] Group 2 - The relationship between yield spreads and economic cycles indicates that a strengthening economic outlook and monetary easing can support the recovery of yield spreads [2] - The demand for ultra-long government bonds has changed, with a weakening trading volume observed, despite the expectation of a rebound in yields in 2025 [2] - Factors supporting the further widening of the yield spread include changes in asset allocation by insurance institutions and reduced demand from banks for ultra-long bonds [2][3] Group 3 - The current global liquidity environment remains loose, and the domestic economic and policy landscape is stabilizing, leading to continued pressure on the bond market in the short term [3] - The short-term volatility of the 30-year government bond is expected to increase, with the possibility of further widening of the yield spread against the 10-year bond [3]

Group 1 - The futures market for platinum and palladium has experienced increased volatility and overall trading activity [1] - The Guangxi Futures Exchange announced adjustments to the minimum trading quantities for platinum and palladium futures contracts, effective December 29, 2025, increasing the minimum opening order quantity from 1 lot to 2 lots while maintaining the minimum closing order quantity at 1 lot [1] - The exchange also implemented risk control measures for polysilicon futures, increasing the minimum opening order quantity from 5 lots to 10 lots, raising transaction fees from 0.01% to 0.05%, and reducing the trading limit from 200 lots to 50 lots, effective December 29, 2025 [1] Group 2 - Industry insiders indicate that increasing the minimum opening quantity, raising transaction fees, and lowering trading limits are effective measures to reduce market activity and promote rational trading [2] - The Guangxi Futures Exchange's risk control measures reflect a strong regulatory stance aimed at comprehensive oversight of the polysilicon futures market [2]

如今，在彭堡镇的田野上，现代化蔬菜基地与整洁村容交相辉映。海证期货以专业、务实、系统的帮 扶，助力"原州冷凉菜"走向更广阔的市场，书写着东西协作、山海情深的新篇章。 原州区地处黄土高原干旱带，海拔高、气候冷凉、昼夜温差大、病虫害少，是全国少有的优质冷凉蔬菜 产区。彭堡镇作为核心种植区，已形成规模化、标准化、外向型产业格局。然而，部分种植户仍面临种 苗成本高、技术培训不足、田间道路破损、夜间照明缺失等现实制约。 对此，海证期货精准施策：5万元帮扶资金明确用于蔬菜种植户补贴、优质种苗提供、技术培训、市场 推广支持，以及产业道路修缮、公共照明安装、垃圾污水处理和村庄绿化等配套建设。这种"产业+基 建"同步推进的模式，既提升生产效率，也改善人居环境，实现"富口袋"与"美乡村"双赢。 在宁夏六盘山东麓的原州区彭堡镇，万亩冷凉蔬菜基地绿意盎然，西兰花、菜心、甘蓝等高原夏菜长势 喜人，正源源不断供应粤港澳大湾区"菜篮子"。近日，海证期货有限公司通过"协议+项目"双轮驱动， 投入5万元产业帮扶资金，专项用于冷凉蔬菜产业发展及基础设施提升，同时依托综合帮扶框架，在消 费、公益、智慧等领域协同发力，助力这座西北小镇打造冷凉蔬菜产 ...

Core Viewpoint - The People's Bank of China and eight other departments jointly released the "Opinions on Financial Support for Accelerating the Construction of the Western Land-Sea New Corridor," emphasizing a development approach that integrates logistics, trade, and industry [1][2] Group 1: Key Measures - The "Opinions" propose 21 key measures focusing on six areas: improving organizational collaboration, enhancing financial services, optimizing cross-border fund settlement, supporting digital transformation in financial services, promoting financial openness, and strengthening financial risk prevention [1] - The measures aim to optimize the financial service system for the land-sea new corridor and enhance financial support for the real economy in the corridor's regions [1] Group 2: Implementation Strategy - The People's Bank of China will work with relevant departments to ensure the implementation of the proposed measures, aiming to elevate the financial service capabilities of the land-sea new corridor [1] - There will be a focus on strengthening collaboration between financial and industry sectors, encouraging fiscal-financial cooperation, and supporting financing and financial innovation in key areas and weak links of corridor development [2]

与此同时，在七营镇马堡村移民安置点，公司投入4万元用于人居环境整治提升，支持巷道清扫、垃圾 清运、局部绿化及公共区域维护。作为易地搬迁集中安置区，马堡村的环境改善不仅提升了生活品质， 更增强了搬迁群众的归属感和幸福感。"以前总觉得是'暂住'，现在村子干净漂亮了，才真正有了'家'的 感觉。"一位村民感慨道。 然而，海证期货的帮扶不止于基础设施"硬件"升级。依托与海原县人民政府签署的《巩固拓展脱贫攻坚 成果同乡村振兴有效衔接结对帮扶合作协议》，公司同步推动"软件"能力建设：一方面，发挥自身及股 东单位上海证券的专业优势，支持海原打造多元化融资路径；另一方面，积极开展消费帮扶，组织员工 团购牛羊肉、小杂粮、枸杞等特色农产品，助力"好产品卖出好价钱"。 更重要的是，公司注重激发当地内生动力。通过干部双向交流、金融知识培训、产业项目辅导等方式， 帮助基层干部、合作社带头人和致富能人提升市场意识、管理能力和政策运用水平。这种"授人以渔"的 支持，正逐步转化为乡村自我发展的"软实力"。 乡村振兴，既要产业兴旺，也要生态宜居。在宁夏中卫市海原县——这片曾是脱贫攻坚主战场、如今奋 力迈向振兴的黄土地上，海证期货有限公司坚持"群 ...

此外，公司还与红寺堡区签署《巩固拓展脱贫攻坚成果同乡村振兴有效衔接结对帮扶合作协议》，将在 更广维度提供支持。 如今，在贺兰山东麓的移民新村，温室里藤蔓攀爬，葡萄挂果。海证期货以专业之力，书写着新时 代"山海情"的新篇章。 在宁夏吴忠市红寺堡区——这片由荒漠变绿洲、承载23万移民希望的热土上，一座座日光温室正孕育着 致富的希望。近日，海证期货有限公司投入5万元专项资金，支持红寺堡区开展设施农业提升工程，用 于日光温室及拱棚的新建与维修。 红寺堡作为全国最大的易地生态移民安置区，设施农业是移民群众稳定增收的支柱产业。然而，小农户 面对自然灾害和市场价格波动时往往束手无策，"丰产不丰收""灾年返贫"风险始终存在。 为此，海证期货捐赠资金直接用于改善生产基础设施，提升温室抗灾能力和产出效率。 ...

Core Viewpoint - The article highlights the successful implementation of a vegetable greenhouse project in Qulihaixiang, Yining County, Xinjiang, supported by Haizheng Futures Co., Ltd., which has significantly improved agricultural productivity and created job opportunities for local residents [1] Group 1: Project Impact - Haizheng Futures invested 40,000 yuan in the greenhouse project, which has effectively enhanced agricultural output and supported 31 impoverished households in increasing their income [1] - The project has created 120 job opportunities for local rural laborers through various stages such as seedling cultivation, planting, harvesting, sorting, transportation, and sales [1] Group 2: Agricultural Development - The region's fertile land faced challenges due to traditional open-air farming being limited by seasonal and climatic factors, leading to income volatility for farmers [1] - The development of facility agriculture is identified as a key solution to overcome these limitations, although high construction costs and technical barriers have deterred many farmers from participating [1] Group 3: Financial Support - Haizheng Futures' targeted funding for greenhouse infrastructure and production materials has alleviated the initial financial burden on the village collective and individual farmers [1] - The initiative demonstrates how financial support can effectively integrate into the daily lives and long-term development of farmers in border areas [1]

Core Viewpoint - The company is committed to reinforcing a culture of integrity and compliance among all employees through a comprehensive training program aimed at internalizing compliance awareness and ensuring sustainable and high-quality development [1][2] Group 1: Training Objectives and Content - The training program for 2025 aims to cover all employees at the company headquarters and branches, focusing on regular and institutionalized education to provide a solid cultural foundation for stable operations [1] - Core materials for the training include regulations from the China Securities Regulatory Commission and the latest implementation guidelines from the China Futures Industry Association, outlining "positive" and "negative" lists for key operational areas [1] - The training emphasizes strict prohibitions against using one's position for personal gain, accepting gifts or money, engaging in client asset management, and falsifying expenses, ensuring employees understand the boundaries of acceptable behavior [1] Group 2: Case Studies and Cultural Integration - The training incorporates analysis of recent typical violations in the futures industry, highlighting real cases where improper expense reimbursements led to regulatory penalties and how accepting client invitations affected professional integrity [1] - The company leader stressed that integrity in the workplace is reflected in every detail of daily operations, urging all staff to maintain self-discipline and uphold the industry's image of compliance, integrity, and professionalism [2] - The company plans to enhance its long-term integrity mechanisms through regular training, daily advocacy, special inspections, and strict accountability, aiming to embed a culture of integrity into its operations and contribute to the healthy development of the real economy and capital markets [2]