Core Viewpoint - The Long-term Care Insurance (LTCI) system in China is transitioning from pilot programs to nationwide implementation, aiming to provide essential care for the disabled population, which has been accelerated in recent years [1][2][5]. Summary by Sections Long-term Care Insurance Overview - LTCI, known as the "sixth social insurance," has covered approximately 188 million people since its pilot launch in 2015, with recent efforts to expand its reach to more families [2][5]. - The system aims to support individuals with long-term disabilities by providing basic living care and medical services [3][4]. Implementation in Changzhou - Changzhou, a city with a significant aging population (29.7% aged 60 and above by 2024), has fully implemented LTCI since 2022, following a pilot in 2019 [4]. - The city employs a "social-commercial cooperation" model for LTCI, enhancing operational efficiency through partnerships with insurance companies [4]. - As of now, around 25,000 disabled individuals in Changzhou benefit from LTCI, with services including home care and financial support for caregiving [3][4]. Nationwide Expansion - Since 2016, LTCI has been piloted in 15 cities, expanding to 49 cities by 2020, with nearly 1.88 billion participants and 1.4625 million receiving benefits by the end of 2024 [5][6]. - Recent government policies have emphasized the need for a standardized and accelerated establishment of LTCI across the country [6]. Funding Mechanism - The LTCI fund is projected to have a total income of 24.415 billion yuan and expenditures of 13.108 billion yuan in 2024, indicating a stable financial operation [7]. - Funding sources include personal contributions, medical insurance allocations, fiscal subsidies, and employer contributions, with a shift towards a more diversified funding model anticipated [7]. Coverage and Inclusivity - Current coverage primarily includes urban employees and residents under basic medical insurance, with plans to extend benefits to retirees, flexible workers, and unemployed residents [8]. - The LTCI system is designed to be independent and standardized, ensuring equitable access to benefits for all citizens [8]. Challenges and Future Directions - The LTCI system faces challenges related to regional disparities and the "last mile" issue, particularly for disabled individuals who relocate [9][10]. - Efforts are underway to establish inter-provincial service recognition and direct settlement mechanisms to address these challenges [9]. - The involvement of commercial insurance is seen as crucial for enhancing risk management and service integration within the LTCI framework [11].

来源：商务部新闻办公室 责编： 罗晓霞 校 对：盘达 百万用户都在看 刚刚，大跳水！AI，突发！ 这个板块，大面积涨停！重磅消息传来！ 盘中，集体爆发！两大利好，彻底引爆！ 官宣！春节连休9天，史上最长！2026年放假安排公布！ 深夜，暴涨！美联储，重磅发声！ 看券商中国 知天下财经 据商务部网站11月8日消息， 商务部新闻发言人就安世半导体问题答记者问。 用 券中社 12 问：近日，荷兰经济大臣卡雷曼斯在个人社交媒体账户发布关于安世半导体问题的声明，请问商务部对此 有何评论？ 券商中国 × 券 中 社 答：中方注意到荷兰经济大臣卡雷曼斯于11月6日发表的声明，但截至目前尚未见到荷方在停止侵害中国 企业合法权益和恢复全球半导体供应链稳定方面的实际行动。中方本着对全球半导体供应链稳定与安全的 负责任态度，已于11月1日宣布对符合条件的相关出口予以豁免，而造成当前全球半导体供应链混乱的源 头和责任在荷方。中方希望，荷方表态不能只停留在口头上，应尽快实质性提出建设性方案并采取实际行 动，从源头上迅速且有效恢复全球半导体供应链稳定，以及停止用行政手段介入并干涉企业内部事务，推 动安世半导体问题早日解决。中方同意荷经济 ...

四川银行入主后，长城华西银行起变化了。 近日，长城华西银行原行长和副行长同时因工作需要请辞。新的行长人选来自于刚成为第一大股东的四川银 行，其已获该行董事会审议通过聘任，待监管核准后正式任行长。 原行长和副行长同时请辞 长城华西银行近日公告，该行董事会收到原行长余国文、原副行长耿虹的书面辞职报告，两人申请辞任的理由 均是"工作需要"。 长城华西银行用了近600字对两位高管表达了诚挚的谢意： "余国文先生在担任行长期间，恪尽职守、勤勉务实、锐意进取，展现出崇高的敬业精神和职业操守、优秀 的管理能力和专业经验，在业务发展、深化改革、内控管理、合规建设、风险处置、平安运营等各个方面 开展了卓有成效的工作，推动公司实现高质量发展。带领公司高级管理层始终坚守金融的政治性、人民 性，认真落实国家经济金融方针政策，有效执行公司党委和董事会各项决策部署，积极践行城商行"三个服 务"，聚焦主责主业，公司存贷款规模稳健增长，风险抵御能力显著提升，内控合规能力逐步增强，业务经 营结构持续优化，服务地方经济和小微客户能力明显提升，获得监管部门、客户及市场的广泛认可。" "耿虹女士在担任副行长期间，以其战略远见和领导才能，为本公司的战 ...

据《兵团日报》5日消息，中国共产党的优秀党员，二十届中央纪委委员，新疆生产建设兵团党委常委、 副政委，兵团纪委书记、监委主任姜新军同志工作期间突发疾病，经抢救无效，于2025年11月3日14时 24分逝世，享年56岁。 姜新军同志，1969年8月出生于新疆维吾尔自治区奎屯市，1992年9月参加工作，1997年4月加入中国 共产党。 扫码关注券商中国公众号 扫码下载 券 中 社 A P P quanshangcn 舞#t 券中社APP qzs.stcn.com 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 。 用 券中社 12 券商中国 × 券 中 社 百万用户都在看 刚刚，大跳水！AI，突发！ 这个板块，大面积涨停！重磅消息传来！ 盘中，集体爆发！两大利好，彻底引爆！ 官宣！春节连休9天，史上最长！2026年放假安排公布！ 深夜，暴涨！美联储，重磅发声！ 违法和不良信息举报电话：0755-8 ...

Core Viewpoint - The European Commission is considering suspending certain provisions of the AI Act due to pressure from major tech companies and the Trump administration, with a decision expected on November 19 [1][2][3]. Group 1: EU AI Act Developments - The EU plans to delay the implementation of fines for AI transparency violations until August 2027, allowing companies more time to comply [1][3]. - A draft proposal suggests a one-year grace period for companies in the highest risk category to adjust their operations without disrupting the market [3][5]. - The AI Act, which came into effect in August 2022, is the first comprehensive regulation of AI globally, with major provisions set to be implemented gradually over the coming years [5][6]. Group 2: Pressure from the US - The push for regulatory changes is attributed to lobbying from tech giants like Meta and Alphabet, as well as pressure from the Trump administration [3][5]. - Trump has threatened to impose high tariffs on countries implementing digital taxes or regulations that target US companies, indicating a strong stance against EU's tech regulations [1][7]. - The US government is actively lobbying against the EU's digital service regulations, which also encompass the AI regulatory framework [7].

据山东省委组织部微信公众号"鲁祖轩"11月8日消息，日前，省委决定，满慎刚任中共东营市委委员、常委、 书记。 本次履新前，满慎刚为山东省国资委党委书记、主任。 官方简历显示，满慎刚，男，汉族，1969年3月生，中央党校研究生，管理学博士，中共党员。 满慎刚曾任肥城矿业集团公司党委常委、董事、工会主席，枣庄矿业（集团）有限责任公司党委副书记、纪委 书记、总经理、党委书记、董事长，山东能源集团有限公司党委常委、党委副书记、董事、总经理，山东黄金 集团有限公司党委书记、董事长等。 此前担任东营市委书记的杨国强（1970年生，山东烟台人），已于今年9月30日当选海南省副省长。 综合自： 山东省委组织部 用 券中社 12 券商中国 × 券 中 社 扫码关注券商中国公众号 扫码下载 券 中 社 A P P quanshangcn 舞#t 券中社APP qzs.stcn.com 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 ...

Core Viewpoint - The article emphasizes the transformative impact of AI technology on the asset management industry, highlighting the shift from human-driven processes to a dual-driven model combining human intelligence and machine intelligence [3][5][12]. AI Application in Asset Management - AI is reshaping the operational logic of various industries at an exponential rate, with domestic asset management institutions actively integrating AI into their investment research [3][5]. - Taikang Asset has developed its own deep research intelligent agent, which integrates vast amounts of high-quality internal and external investment research data, enhancing the investment research process [4][6]. Efficiency and Effectiveness of Research - The use of AI in investment research significantly improves efficiency by automating data processing and analysis, allowing researchers to focus on higher-level strategic tasks [6][7]. - The Taikang Deep Research Agent (TKDR) demonstrates advantages over traditional research methods by quickly identifying core demands, utilizing resources, and generating structured research outputs [7][8]. Comprehensive Empowerment Across Scenarios - Global leading asset management firms are exploring AI applications in various domains such as investment research, strategy formulation, and risk management, with domestic institutions also making strides in this area [8][12]. - Taikang Asset's intelligent agent system is tailored for active investment research, aligning with the thought processes and methodologies of active researchers [9][10]. Unique Advantages of Taikang Asset's Intelligent Agent - The intelligent agent is designed for proactive research, incorporating a comprehensive framework that addresses complex issues through a structured approach [9][10]. - It accumulates a wealth of internal and external data, creating a high-quality, diverse digital research resource system [10][11]. Future Outlook and Development - The company aims to establish a collaborative human-machine research paradigm, enhancing the capabilities of human researchers while leveraging AI for improved investment strategies [12][13]. - To effectively advance AI initiatives, asset management institutions should develop supportive mechanisms, optimize governance structures, and foster talent teams that align with AI transformation [13][14].

Core Viewpoint - The ongoing U.S. government shutdown, now in its 38th day, is causing significant disruptions in various sectors, particularly in air travel, leading to a potential economic disaster as political deadlock continues [2][10][11]. Air Travel Impact - The U.S. government has ordered a reduction in flight capacity at 40 major airports by 10% due to shortages of air traffic controllers and ground staff, resulting in over 3,500 flight delays and approximately 1,000 cancellations as of November 7 [2][4][5]. - Major airlines, including American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines, are significantly affected, with cancellations primarily impacting regional flights [5][6]. - The Federal Aviation Administration (FAA) has mandated a gradual reduction in domestic flights, with potential increases in cancellations if the shutdown persists, possibly reaching a cancellation rate of 15% to 20% [5][7]. Legislative Stalemate - The Senate failed to pass the Specific Federal Employee Funding Act (S.3012), which aimed to provide funding for essential federal employees during the shutdown, highlighting ongoing bipartisan divisions [10][11]. - Negotiations between Republican and Democratic leaders have stalled, with both sides unable to reach a consensus on reopening the government [10][11]. Economic Consequences - The shutdown is expected to have a long-term detrimental effect on the efficiency of U.S. government operations, with potential slowdowns in GDP growth for the fourth quarter and severe impacts on the tourism and leisure sectors [11][12]. - The lack of timely economic data due to the shutdown is complicating the Federal Reserve's decision-making process regarding interest rate adjustments, with warnings that the absence of key economic indicators could lead to a pause in rate changes [12][13].

Core Viewpoint - The article discusses the recent decline in Pop Mart's stock price due to a "live streaming incident," which resulted in a significant market value loss, despite strong financial performance in Q3 [1][3]. Group 1: Stock Performance - On November 7, Pop Mart's stock dropped by 5.88%, leading to a market value loss of over 17 billion HKD [1]. - The stock has seen a nearly 40% decline over the past two months after reaching a high of 339.8 HKD per share in August [2][3]. - Despite a strong Q3 report showing a revenue increase of 245%-250%, the stock price continued to fall, attributed to concerns over the sustainability of its popular IP products [3][5]. Group 2: Fund Management and Market Sentiment - Public funds have shown a mixed response, with a reduction in the number of funds holding Pop Mart shares from 286 to 180 in Q3, and a decrease in heavy holdings by approximately 31% [5][6]. - Some funds have chosen to increase their positions, citing the potential for a second wave of growth due to expanding fan bases and overseas market penetration [2][6]. Group 3: Industry Context and Future Outlook - The decline in Pop Mart's stock has negatively impacted other consumer stocks, with significant drops observed across various companies in the sector [4]. - The overall consumer sector has faced challenges, but there is optimism for recovery during upcoming shopping festivals and the holiday season [7][8]. - The trend of "going overseas" is highlighted as a key growth factor for consumer brands, with increasing competitiveness in international markets [8][9].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) and the Ministry of Finance have revised the "Securities Settlement Risk Fund Management Measures," effective December 8, 2025, to enhance risk prevention capabilities in the securities settlement system and adjust the contribution ratios of the risk fund [1][2]. Summary by Sections Revision Overview - The revision aims to improve the management of the risk fund, which was originally established in 2000 and last revised in 2006, to adapt to the evolving securities market and settlement risk prevention needs [2][3]. Key Changes - The contribution ratio for equity products has been reduced from 0.0003% to 0.00009% of the transaction amount, while the ratio for fixed income products has been adjusted from 0.0001% to 0.00003% for cash transactions, with the ratio for pledged repurchase transactions remaining unchanged [3]. - The proportion of the risk fund that securities registration and settlement institutions can extract has been adjusted from 20% of business income to 9% [3]. Fund Scale Regulations - The previous cap of 3 billion yuan on the fund size has been changed to require that the net asset total of the fund be no less than 3 billion yuan [3]. - A new dynamic assessment clause has been added, mandating regular evaluations of the required scale of the risk fund by securities registration and settlement institutions, with reports to be submitted to the CSRC and the Ministry of Finance [3]. Investment and Usage Optimization - The investment scope of the risk fund has been expanded from only bank deposits to include key term government bonds and other approved investment forms, with a requirement that bank deposits must not be less than 70% of the previous month's net asset total [4]. - The process for utilizing the risk fund has been simplified, changing from prior approval to post-reporting [4]. Risk Prevention and Internal Management - Clear internal control requirements have been established for settlement participants and securities registration and settlement institutions, including the development of risk prevention and internal control systems [4]. - Additional provisions have been included for recovery and accountability in cases of default, technical failures, or operational errors involving the use of the risk fund [4].