2026年1月15日（星期四）下午3时，国务院新闻办公室举行新闻发布会，中国人民银行新闻发言人、副行长邹 澜，国家外汇局新闻发言人、副局长李斌介绍货币金融政策支持实体经济高质量发展成效，并答记者问。 央行：下调各类结构性货币政策工具利率0.25个百分点 央行：2025年货币金融政策支持实体经济的效果是明显的 人民银行新闻发言人、副行长邹澜1月15日在国新办新闻发布会上表示，从2025年全年金融数据看，货币金融 政策支持实体经济的效果是明显的，金融总量保持较快增长。2025年12月末，社会融资规模存量同比增 8.3%，广义货币（M2）供应量同比增8.5%，明显高于名义经济增速。信贷支持力度持续较强。 央行：债券等贷款以外融资方式占社融规模增量超50%，金融供给侧结构性改革成效显著 人民银行新闻发言人、副行长邹澜1月15日在国新办新闻发布会上表示，2025年社会融资规模增量中，债券等 贷款以外的融资方式占比已经超过50%，金融供给侧结构性改革成效显著。 央行：商业用房购房贷款最低首付比例下调至30% 人民银行新闻发言人、副行长邹澜1月15日在国新办新闻发布会上表示，会同金融监管总局将商业用房购房贷 款最低首付比例 ...

Core Viewpoint - The UBS Greater China Conference highlighted the increasing interest of international investors in the Chinese market, driven by China's economic resilience and innovation in sectors like advanced manufacturing and artificial intelligence [1][2]. Group 1: Market Trends and Investor Sentiment - The number of overseas clients has increased, indicating a renewed focus on China as a strategic market for UBS [1]. - By the third quarter of 2025, the underweight of foreign investment in Chinese stocks decreased from -2.5% in 2024 to -1.3%, a 48% year-on-year reduction [1]. - The number of mainland companies listed in Hong Kong reached 111 by the end of 2025, with a total market capitalization of $562.3 billion [1]. Group 2: Growth Opportunities in AI and Technology - UBS's CEO noted that the Asia-Pacific region is poised to benefit from a new wave of growth driven by AI, with significant advancements expected in the Chinese tech sector by 2025 [2]. - China is expected to lead in AI technology, supported by favorable policies that enhance the resilience of the ecosystem [2]. - UBS anticipates that its assets under management in the Asia-Pacific will exceed $1 trillion, with record financial performance in China [2]. Group 3: Stock Market Outlook - UBS's China equity strategy head expressed optimism for the stock market, suggesting that as long as the innovation sector continues to thrive, it will positively impact the overall market [3]. - Historical trends indicate that policy support is a major driver of stock market performance, with ongoing liquidity support from the central bank and backing for the A-share market [3]. - Despite current valuations, Chinese stocks remain attractive compared to global markets, leading to a recommendation for overweighting Chinese equities [3]. Group 4: Market Dynamics and Investment Strategies - Recent inflows into A-shares have not resulted in overheating, with market sentiment remaining moderately positive [4]. - The combination of improved earnings and valuation recovery is expected to drive further upward movement in the A-share market [4]. - Growth and cyclical styles are favored, as market uptrends typically encourage higher risk-taking, benefiting growth stocks [4].

据中国新闻周刊， 近日，网传西贝会议中称将一次性关闭全国102家门店，占门店总数的30%。1月15 日，西贝餐饮创始人贾国龙确认了该消息属实。 2025年9月，西贝遭遇"预制菜风波"，贾国龙称之为西贝成立以来最大的一次外部危机。同年12月，贾 国龙在接受媒体采访时表示："我认错，我向顾客认错，我向员工认错，也向我自己认错。" 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 F 来源：中国新闻周刊 责编：王璐璐 校对：王蔚 百万用户都在看 突发！美军，异动！伊朗，关闭领空！ AI大牛股，停牌核查！多只A股，紧急提示风险！ 上交所出手，暂停国晟科技部分投资者账户交易！浙江证监局也有动作 "降息大门关闭！"美联储，预期突变！ ...

Core Viewpoint - The article discusses the recent sharp decline in copper prices, with warnings from Goldman Sachs and Citigroup indicating that the current price surge may have peaked, leading to potential risks of a price correction in the near future [2][7][8]. Group 1: Market Performance - On January 15, the main copper futures contract in Shanghai experienced a significant drop, falling nearly 3% at one point, and closing with a decline of 2.21% at 101,870 yuan per ton [2]. - In the international market, copper prices also fell, with London copper down 1.27%, nickel down 1.55%, aluminum down 0.9%, and tin down 0.5% as of 14:00 Beijing time [4]. Group 2: Price Trends and Predictions - Copper prices have surged nearly 24% since November 20, 2025, raising concerns about sustainability [5]. - Goldman Sachs has indicated that the recent price increase was primarily driven by speculative trading and expectations of U.S. tariffs on key minerals, which have now eased, leading to a potential price correction [6][7]. - Citigroup warns that January may represent the peak price for copper in 2026, predicting a return to around $13,000 per ton as a more sustainable level unless unexpected macroeconomic factors arise [8]. Group 3: Supply and Demand Dynamics - The easing of tariff concerns has led to a decrease in copper premiums in the U.S., which previously supported high prices due to tight supply [6]. - Citigroup highlights that aluminum is facing a significant supply shortage, with a short-term target price of $3,400 per ton and a mid-term outlook of $3,500 per ton due to rising electricity costs affecting production [8].

Core Viewpoint - The article discusses the implementation of a smart regulatory supervision system in Zhejiang Province, which enhances the efficiency of monitoring public power and combating corruption in the bidding process, revealing hidden corrupt practices through data analysis and AI technology [1][2]. Group 1: Smart Regulatory Supervision System - The smart regulatory supervision system aims to address corruption in the bidding process, particularly in capital-intensive areas like public projects, by providing data-driven insights and risk alerts [1][2]. - The system has successfully identified potential corruption cases, such as the suspicious bidding practices in the Jiangshan City lighting project, where AI-generated risk alerts indicated possible collusion and unfair practices among experts [1][2]. Group 2: Case Studies and Outcomes - A specific case involving Feng Jiang, a former official, illustrates how the system exposed corrupt activities, including collusion with a winning bidder who paid bribes for favorable treatment during the bidding process [2][4]. - The system's ability to analyze large datasets allows investigators to trace connections and uncover broader networks of corruption, as seen in the follow-up investigations that revealed additional issues linked to Feng Jiang [3][5]. Group 3: Impact on Corruption Detection - The introduction of the smart regulatory supervision system has transformed the approach to corruption detection, enabling authorities to proactively identify issues rather than relying solely on specific complaints [2][6]. - The system's analytical capabilities have led to more precise targeting of corrupt practices, significantly improving the effectiveness of investigations and resulting in timely disciplinary actions against offenders [5][6].

Core Insights - The article discusses the progress of special bond issuance for the acquisition of idle land in China, with significant amounts being allocated across various provinces and cities [1][2][4]. Group 1: Special Bond Issuance - In 2025, over 5,500 instances of proposed special bond usage for acquiring idle land were reported, with a total land value exceeding 750 billion yuan [1]. - More than 300 billion yuan in special bonds have been issued by various provinces, accounting for approximately 40% of the total planned acquisition scale [1]. - Guangdong leads with 48.6 billion yuan issued, followed by Hunan with 38.9 billion yuan, and Jiangxi and Chongqing around 30 billion yuan each [1]. Group 2: Regional Insights - Among 31 provinces, 26 have announced plans for special bond usage to acquire idle land, with Zhejiang and Guangdong at the forefront, each exceeding 90 billion yuan in proposed acquisition amounts [2]. - Chongqing has the highest proposed acquisition amount at nearly 70 billion yuan, covering an area of about 21 million square meters [2]. - First and second-tier cities have collectively proposed around 1,250 instances of land acquisition, with a total value exceeding 270 billion yuan, representing 36% of the total [2]. Group 3: Land Use Types - Residential land constitutes the majority of the proposed acquisitions, accounting for approximately 66% of the total number of parcels, while commercial and industrial land make up about 24% and 6%, respectively [3]. Group 4: Future Expectations - Industry experts anticipate that more cities will continue to promote the acquisition of idle land in 2026, aiming to accelerate inventory reduction and improve market expectations and supply-demand relationships in the real estate market [4].

责编：罗晓霞 校对：王蔚 百万用户都在看 突发！美军，异动！伊朗，关闭领空！ AI大牛股，停牌核查！多只A股，紧急提示风险！ 上交所出手，暂停国晟科技部分投资者账户交易！浙江证监局也有动作 "降息大门关闭！"美联储，预期突变！美国重磅数据出炉！ 局势升级！俄罗斯，大规模袭击！发射7枚巡航导弹！英国，重大宣布！ 利好突袭！杭州"六小龙"，传出大消息！ 近日，湖北一孕期宝宝在黄冈市妇幼保健院大小排畸检查时显示一切正常，出生后却被诊断出患有先天性脊柱 畸形，引发关注。 据张女士称，她于2023年在该院全程产检。其中，"大排畸"（系统超声筛查）检查结果显示，胎儿"脊柱弯曲 度及椎体排列未见明显异常"。同年11月，孩子出生。40多天后，孩子做例行检查拍胸片时，被诊断为先天性 脊柱侧弯半椎体畸形。 2026年1月15日，黄冈市卫生健康委员会发布情况通报称，对于网民反映黄冈一出生幼儿漏诊先天性脊柱畸形 医疗问题，黄冈市委市政府高度重视，已成立由纪委监委、卫健委等单位组成的联合调查组对反映的问题进行 全面核查。核查情况将适时通报。 综合自：黄冈市卫健委、长安街知事 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码 ...

Core Viewpoint - The article discusses the revised regulations on public fund sales fees in China, which will take effect on January 1, 2026, and outlines specific changes regarding the collection of subscription fees and service fees by fund managers and sales institutions [1]. Group 1: Sales Fee Regulations - Fund managers are prohibited from charging subscription fees and sales service fees starting January 1, 2027 [2]. - Sales institutions cannot continue to charge sales service fees for non-monetary market fund shares held for over one year, with a "pay first, refund later" approach for fees collected after January 1, 2027 [3]. - Fund sales subsidiaries selling funds managed by their parent companies must also adhere to the prohibition on charging subscription and sales service fees [2]. Group 2: Fee Structure Adjustments - The notification specifies that fund managers must adjust the fee structure for existing funds to comply with the new regulations within 12 months of implementation [4]. - Fund managers can modify fund contracts and legal documents without convening a fund holder meeting, provided they reach an agreement with the fund custodian [4]. - The notification emphasizes that existing funds, including those established before December 31, 2025, must comply with the new fee structure [4]. Group 3: Interest Payments and Fee Transparency - Fund managers must pay all interest generated from fund sales settlement funds to investors, minus reasonable fees, starting January 1, 2027 [4]. - Fund sales institutions are required to display fee information clearly at sales locations, including online platforms [4]. - The regulations prohibit fund managers from using various indirect methods to pay or collect sales fees, ensuring fair treatment of all investors [4].

事关国有基金，安徽最新发文。 据最新消息，安徽省政府近日印发《支持升级创业安徽行动若干措施》(以下简称《若干措施》），围绕城 市、能力、人才、平台、融资、生态六个维度，推出18条创新性举措，进一步优化创业生态，强化金融与科技 供给，激发全社会创新创业活力。 《若干措施》明确，加快省新兴产业引导基金天使基金群募投运营，推动天使基金群与新型研发机构、科技孵 化器等对接，支持小微科创企业创新创业。改革完善国有基金"投早投小投长期投硬科技"尽职免责机制。省级 天使母基金投资损失容忍率最高可达80%，不再以单一基金或单一项目的盈亏作为考核依据。 安徽最新发布 在进一步支持各类人才投身创业方面，《若干措施》明确，实施高层次科技团队创新创业项目，对拥有核心技 术的科技团队创新创业，每年择优以资金扶持和股权投资方式给予最高2000万元支持。 强化创业融资支持 在进一步强化创业融资支持方面，《若干措施》提出，发展耐心资本。加快省新兴产业引导基金天使基金群募 投运营，推动天使基金群与新型研发机构、科技孵化器等对接，支持小微科创企业创新创业。改革完善国有基 金"投早投小投长期投硬科技"尽职免责机制。省级天使母基金投资损失容忍率最高 ...

在国际金价突破4600美元/盎司之际，国内首只千亿黄金ETF诞生。 Wind数据显示，截至1月14日，华安黄金ETF的最新流通规模达到1007.62亿元，突破千亿元大关，成为国内首 只突破千亿的黄金ETF，同样也稳居亚洲最大规模黄金ETF之位。 展望后市，基金对黄金、白银等贵金属的走势仍然相对乐观，认为在美联储降息周期持续、海外不确定性加 剧、全球去美元化趋势下，金价上涨的逻辑依然存在，但短期波动风险需保持警惕，建议投资者逢低布局。 华安黄金ETF突破千亿 伴随着金价迭创新高，黄金ETF迎来了各路资金的热情申购，规模增长迅速。 国内黄金ETF产品的创新研发，最早可以追溯到2009年，上海证券交易所组织多家基金管理人对黄金ETF在国 内落地的可行性和投资运营的实现路径进行研究探索，创造性地通过"实物合约+现金"两种申购赎回模式保证 了产品流动性充沛及投资模式的多样性。其中，作为首批产品之一的华安黄金ETF于2013年7月18日成立，并 于7月29日正式上市交易。 华安基金表示，黄金ETF的诞生进一步推进了中国黄金市场发展与创新，丰富了普通大众投资者的投资品类， 实现了投资者对黄金投资的新途径，黄金ETF也成为藏 ...