Core Viewpoint - The article highlights significant developments in China's commercial aerospace sector, particularly the increase in registered capital of China Aerospace Science and Technology Corporation's commercial rocket subsidiary, indicating a transition from exploration to growth phase in the industry [1][3]. Group 1: Company Developments - China Aerospace Science and Technology Corporation's commercial rocket subsidiary increased its registered capital from 1 billion to 1.396 billion yuan, a growth of 39.6% [3]. - The investment from China Aerospace Science and Technology Corporation increased from 510 million to 906 million yuan, marking a 77.6% increase, raising its shareholding to 64.8997% [3][4]. - The company focuses on various aspects of commercial aerospace, including rocket control systems, engine development, and launch services [3]. Group 2: Market Trends - The A-share market experienced a strong start in 2026, with commercial aerospace stocks seeing significant gains, indicating investor optimism in the sector [1]. - Analysts suggest that the commercial aerospace industry in China is transitioning to a growth phase, with expectations of high-frequency rocket launches and large-scale satellite production during the 14th Five-Year Plan [1][5]. Group 3: Industry Outlook - By 2025, the total financing for commercial aerospace is projected to reach 18.6 billion yuan, a year-on-year increase of 32%, with rocket manufacturing and satellite applications being the primary drivers [6]. - China aims to achieve a record 92 rocket launches in 2025, significantly up from 51 in 2024, with plans to send over 300 spacecraft into orbit [6][7]. - The "14th Five-Year Plan" explicitly lists "building a strong aerospace nation" as a national strategic goal, with a target of launching over 30,000 satellites by 2030 [6].

亚太市场，集体沸腾！ 今日（1月5日），亚太市场全线大涨，A股三大指数集体走高，截至下午收盘，沪指涨1.38%重回4000点，深 成指涨2.24%，创业板涨2.85%。个股涨多跌少，沪深京三市超4100股飘红。 MSCI亚太地区(除日本)股指升至纪录高位，上涨超1%。日本、韩国股市大幅上涨，日经225指数盘中一度大 涨超1600点；韩国综合指数大涨超3%，韩美半导体涨超15%，三星电子涨超7%。 亚太其他市场方面，截至下午15时，泰国证交所指数（SET Index）涨1.83%，巴基斯坦卡拉奇证交所KSE 100 指数涨近2%，菲律宾马尼拉指数涨超1%，印尼雅加达综合指数涨0.90%，富时新加坡海峡时报涨0.72%。 集体大涨 周一，日本股市高开高走，日经225指数盘中一度涨超1600点，涨幅一度超过3%。截至收盘，日经225指数上 涨1493点，涨幅为2.97%，东证指数涨幅也超过2%。个股方面，铠侠涨近9%，爱德万测试涨超7%，软银集团 涨近5%。 在科技股的带动下，韩国股市也大幅走高，韩国综合指数涨超3%，再创历史新高。截至收盘，韩美半导体涨 15%，三星电子涨超7%，SK海力士涨近3%。 其中，三星电 ...

Group 1 - The article highlights the strong resilience of the capital market at the beginning of 2026, driven by high investor enthusiasm and robust market dynamics [1] - It emphasizes the significance of 2026 as the starting year of the "14th Five-Year Plan," which carries the mission of establishing a good foundation for future growth amidst changing macroeconomic conditions [1] - The external environment is characterized by subtle adjustments in the Federal Reserve's monetary policy, varying recovery momentum in Europe, and Japan's policy responses to inflation pressures, contributing to a complex global liquidity landscape [1] Group 2 - The article discusses the dual opportunities and challenges present in the A-share market as the fiscal and monetary policies in 2026 are expected to provide sustained upward momentum for the capital market [1] - A significant event, the "2026 Investment Strategy Conference," organized by Bosera Fund and Securities Times, is set to take place on January 9, featuring industry experts and analysts who will analyze policy directions, market logic, and investment opportunities [1][2]

Core Viewpoint - The investment landscape for 2026 is characterized by a shift from "risk appetite recovery" to "profit verification," indicating both structural opportunities and investment challenges as the economy transitions and policies are expected to strengthen [1]. Group 1: Macro Economic Outlook - The global and domestic liquidity environment is expected to improve, providing a solid foundation for the market, with external constraints on A-shares significantly reduced due to anticipated interest rate cuts by the Federal Reserve [5][6]. - Domestic monetary policy will continue to support high-quality economic development and industrial upgrades, maintaining reasonable liquidity [5]. Group 2: Industry Trends - The AI sector is projected to accelerate its impact on industries, transitioning from rapid penetration in 2025 to deeper performance realization in 2026, enhancing corporate productivity and business model transformations [5][6]. - The market is expected to exhibit significant structural characteristics, with a focus on a few technology leaders capable of delivering real and sustainable performance [6]. Group 3: Investment Strategies - Investors are advised to focus on identifying high-quality leading companies with solid industry positions, strong growth sustainability, and reasonable valuations to capitalize on structural market opportunities [6]. - The domestic consumption sector is highlighted as a high-potential area, with a shift in fiscal spending towards improving people's livelihoods, which may stimulate consumption [7][9]. Group 4: Sector-Specific Insights - The Hong Kong market is anticipated to experience a combination of valuation contraction and profit growth, with technology and healthcare sectors expected to lead the market [10][11]. - The technology sector in Hong Kong is seen as having clear fundamental drivers, with significant opportunities arising from domestic AI core assets and increased capital expenditure from major internet companies [13]. Group 5: Overall Market Sentiment - The overall sentiment for the equity market in 2026 is optimistic, with opportunities expected to outweigh risks, particularly in the AI and technology sectors, despite some signs of overheating in certain areas [9][18]. - The market is expected to transition from extreme conditions to a more balanced state, with a focus on dividend assets, technology, and domestic demand sectors [14][17][25].

水利部原党组成员、副部长田学斌涉嫌严重违纪违法，目前正接受中央纪委国家监委纪律审查和监察调 查。 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 来源：央视新闻 看券商中国 知天下财经 责编：罗晓霞 校对：吕久彪 F 百万用户都在看 利好！国务院，重磅发布！ 俄罗斯，发动大规模打击！泽连斯基，突然宣布！ 利空！马斯克，突传重磅！ 2026年新年献词｜顺流逆流，守护我们内心的罗盘！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 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 , ...

Core Viewpoint - The article discusses the detention of Venezuelan President Maduro in a Brooklyn detention center, highlighting the harsh conditions and the legal charges against him, which include drug-related offenses and conspiracy to use firearms against the U.S. [1][2] Group 1: Detention Conditions - Maduro is held in a detention center known for poor conditions, including overcrowding, violence, and inadequate staffing [1] - The detention center's cells are approximately 6 square meters, equipped with a metal table and a combined stainless steel toilet and sink [1] - The facility has previously housed high-profile inmates, raising concerns about the environment for legal preparation [1] Group 2: Legal Charges - U.S. Attorney General Bondi announced that Maduro and his wife are charged with "drug trafficking conspiracy, cocaine smuggling conspiracy, possession of firearms and destructive devices, and conspiracy to possess firearms and destructive devices against the U.S." [2] - The Venezuelan government has declared a state of full military readiness in response to the charges, emphasizing the military's commitment to defend national sovereignty [2]

Core Viewpoint - The importance of equity assets in the asset allocation system is increasing due to supportive policies for the capital market and the accelerated entry of medium- and long-term funds [1] Group 1: Policy and Market Dynamics - Recent policy deployments reflect the decision-makers' high regard for the capital market, aiming for a capital market that is adaptable, competitive, and inclusive by 2035 [5] - The Chinese capital market is evolving towards a more long-term investment value ecosystem, with medium- and long-term funds becoming significant forces in improving market structure and stabilizing volatility [5] - Policies like the new "National Nine Articles" are driving improvements in corporate governance and shareholder returns, shifting the capital market focus from financing to investment returns [5] Group 2: Company Strategy and Transformation - Zhongyin Fund is focusing on a transformation centered around equity investment, enhancing its equity product system, and strengthening research and investment capabilities to meet long-term capital allocation needs [2][6] - The company is committed to a strategy of "equity, retail, and digital" transformation, continuously improving its equity product layout and investment coverage [6] Group 3: Equity Investment Expansion - The development of passive asset management tools, particularly ETFs, is gaining momentum, driven by the growth of pension finance and buy-side advisory systems [7] - Zhongyin Fund has been expanding its ETF product line since launching its first ETF in 2011, aiming to meet diverse customer needs in various market conditions [8] Group 4: Fixed Income Plus Strategy - Zhongyin Fund is optimizing its product structure towards "fixed income plus" products to better match different client risk preferences [9] - The company emphasizes that "fixed income plus" is not merely about adjusting asset ratios but requires higher collaboration between research and investment teams [9][10] Group 5: Research and Investment Capability - The overall market environment for equity investments is expected to improve, with structural opportunities remaining prominent [11] - Zhongyin Fund is enhancing its investment capabilities by integrating research, investment, and risk control processes, and promoting multi-strategy collaboration [11][12]

Core Viewpoint - The establishment of Chief Compliance Officer (CCO) positions in Chinese banks has intensified in 2025, driven by regulatory requirements aimed at enhancing compliance management within financial institutions [2][4]. Group 1: Regulatory Background - In March 2025, the Financial Regulatory Administration implemented the "Compliance Management Measures for Financial Institutions," mandating that financial institutions appoint a CCO at their headquarters, who must be a senior management member [2][4]. - The year 2025 serves as a critical transitional period for compliance management, with many banks already appointing CCOs and obtaining regulatory approval for their qualifications [8]. Group 2: Appointment Trends - Several banks, including Jiangyin Bank, Ping An Bank, and Minsheng Bank, have recently appointed CCOs, with many of these positions filled by existing senior executives such as presidents or vice presidents [4][5][6]. - The trend shows that many banks are opting for current executives to take on the CCO role, which may help mitigate internal communication costs associated with having too many specialized positions [4][7]. Group 3: Compliance Management Practices - The unique nature of financial institutions necessitates a higher standard of compliance management compared to general enterprises, emphasizing the need for a robust compliance culture [4]. - The "Compliance Management Measures" also allow for the CCO to concurrently hold other executive roles, which is particularly beneficial for smaller banks [4][8]. Group 4: Recruitment Initiatives - Some regional banks, such as Jiangxi Bank and Shangrao Bank, have actively sought to recruit CCOs, indicating a proactive approach to compliance management [9]. - Recruitment criteria for these positions often prioritize candidates with judicial experience or previous roles in compliance departments of major banks [9].

都回来了！ 1月5日早盘，沪指涨幅扩大至1%，沪指再度突破4000点。截至午间收盘，深证成指涨近2%，创业板指涨超 2%，脑机接口、存储芯片等方向领涨，沪深京三市上涨个股超4000只。其中，涨停及涨幅超过10%的股票一 度超过130只，强势霸屏！ 那么，究竟有何利好？分析人士认为，一是全球流动性宽松格局再度显现，这一点可以从最近虚拟货币的行情 得出一些结论；二是行业板块亦有显著利好，比如涨停板最多的脑机接口利好频频发酵。 流动性似乎回来了 1月份，资金又开始干活了。过去几天时间，比特币从8.7万美元涨至今天的9.3万美元，以太坊亦接近3200美 元，虚拟货币市场全线上涨。这便是全球流动性好转的显著特征。 国内方面，1月5日，Shibor短端品种多数下行。隔夜品种上行0.6BP报1.264%；7天期下行0.5BP报1.423%；14 天期下行6.1BP报1.457%；1个月期下行0.5BP报1.574%。与此同时，国债市场欲振乏力，流动性走强的同时， 风险偏好也回来了。 所以，有了股市集体走强的一幕。早盘，亚太市场全线发力，MSCI新兴市场指数涨1.1%，超过此前的历史收 盘纪录。日本和韩国的股市集体大涨。A股 ...

委内瑞拉局势迎来最新消息！ 据CCTV国际时讯报道，美国当地时间1月4日晚，美国总统特朗普在"空军一号"专机上回答随行记者提问时声 称委内瑞拉是一个"死掉的国家"，而美国"正在掌权"。特朗普还称，美国需要全面获取委内瑞拉的石油及其他 资源。 随后，有报道指出，委内瑞拉代理总统 德尔西·罗德里格斯 表示，将邀请美国政府一起合作。首要任务是朝着 尊重的美方关系迈进。委内瑞拉和美国应朝着合作议程推进。与此同时，美国"治理"委内瑞拉的相关方案也逐 渐显现。 值得注意的还是资本市场，高盛认为，委内瑞拉石油产量的长期增长最终可能会给全球原油价格带来压力。 受局势变化影响，今日早盘，A股油气股开盘强势，准油股份竞价涨停，通源石油、科力股份、潜能恒信、惠 博普、石化油服等多股高开。但WTI原油期货周一亚市早盘低开1%。布伦特原油期货价格一度下跌1.2%，至 每桶60美元。贵金属方面，现货黄金上涨0.5%，现货白银上涨1%。美股期货亚市盘初小幅高开，标普500指 数期货涨0.08%，纳指期货涨0.17%。 特朗普最新发声 美国当地时间1月4日，特朗普在搭乘"空军一号"专机从佛罗里达州返回华盛顿途中表示，美国正在考虑重新开 放位 ...