北京银行即将迎来新任"掌舵人"，由万亿级农商行董事长调任！ 1月20日，券商中国记者从权威渠道获悉，现任北京农商行董事长 关文杰 将调任北京银行，担任该行党委书 记，待完成相关程序后，或出任北京银行董事长。现年已满60岁的北京银行党委书记、董事长霍学文或将到龄 退休。 作为一名"70后"，关文杰工作履历横跨国有大行、股份行和农商行，具有在北京国资参股的多家银行核心管理 层任职经验，在华夏银行任职时间最长，工作超过20年，早年间他还曾在建设银行工作。2024年1月，关文杰 从华夏银行行长职位上调任北京农商行担任党委书记，同年6月出任董事长至今。 事实上，关文杰掌舵北京农商行时间并不算长，至今刚满2年。2024年1月10日，北京农商行官网发布公告称， 该行召开干部大会宣布北京市委、市政府决定，关文杰任北京农商行党委书记，董事长人选；同年6月其董事 长任职资格获得金融监管部门核准。 而在加入北京农商行之前，关文杰长期供职于华夏银行，工作时间超过20年。2023年4月至2024年1月期间，担 任华夏银行行长近9个月，在此之前担任华夏银行副行长职务超5年。 公开简历显示，关文杰出生于1970年10月，拥有硕士学位，系高 ...

Core Viewpoint - The article discusses the significant market turmoil triggered by the latest tariff threats from the Trump administration, leading to substantial declines in U.S. and European stock indices, alongside rising concerns about potential trade wars and geopolitical instability [1][3]. Group 1: Market Reactions - On January 20, U.S. stock futures fell sharply, with the Nasdaq 100 futures dropping over 2%, and major indices like the Dow Jones, S&P 500, and Nasdaq experiencing declines of 1.28%, 1.33%, and 1.59% respectively [1][3]. - European markets also faced declines, with major indices such as the Euro Stoxx 50, DAX 30, FTSE 100, and CAC 40 all dropping over 1% [1][3]. - The VIX index, which measures market volatility, surged over 27%, indicating heightened investor anxiety [1]. Group 2: Geopolitical Factors - The article highlights concerns regarding Trump's aggressive stance on acquiring Greenland, which has reignited fears of a potential trade war between the U.S. and Europe [1][3]. - The European Commission President, Ursula von der Leyen, stated that Denmark's sovereignty over Greenland is non-negotiable, further complicating the situation [3]. - In Japan, political developments led to a significant rise in bond yields, with the 30-year and 40-year Japanese government bond yields reaching 3.875% and 4.215% respectively, marking historical highs [3][4]. Group 3: Investment Sentiment - Danish pension fund AkademikerPension announced plans to liquidate its U.S. Treasury holdings by the end of the month due to concerns over credit risks associated with Trump's policies [5]. - Analysts from JPMorgan view the current market volatility as a strategic maneuver by the U.S. to create leverage in negotiations, suggesting that a resolution may emerge during the World Economic Forum in Davos [7]. - JPMorgan's analysts predict that the most likely outcome will be a negotiated arrangement that satisfies U.S. interests in Greenland while allowing Denmark to retain sovereignty [7][8].

Core Viewpoint - The lithium carbonate futures market has experienced a significant rebound, with the main contract reaching a limit-up of 8.99% on January 20, driven by supply concerns and improved supply-demand dynamics compared to previous periods [1][2]. Supply Concerns - Supply worries have resurfaced, leading to a sharp increase in lithium carbonate prices, with the main contract closing at 160,500 yuan/ton and a daily increase of 4,020 contracts, bringing total open interest to 415,400 contracts [2]. - The mining projects of Jiangxi's Ganxian and Guoxuan Electronic are facing potential production halts due to ongoing environmental assessments and permit applications, raising market concerns about supply disruptions [2][3]. - The tightening of supply is further exacerbated by the publication of the "Comprehensive Solid Waste Management Action Plan," which emphasizes tailings management as a critical focus for lithium production [2]. Market Dynamics - The current supply-demand structure for lithium carbonate has shown significant improvement, with January exhibiting "not a dull season" characteristics due to strong export demand, resulting in a decrease of 263 tons in inventory [4]. - Positive signals from the overseas electric vehicle market, such as Canada granting quotas for Chinese electric vehicles and Germany planning to resume electric vehicle subsidies, are contributing to a healthier demand structure [4]. - The recent price adjustments have led to increased purchasing activity from downstream enterprises, with a notable daily transaction volume of 7,480 tons, indicating effective support for price levels [4]. Market Sentiment and Future Outlook - The core market contradiction lies in locked inventories and limited available spot supplies, with traders holding back stock, while short positions remain rigid [5]. - There is potential for further price increases driven by news stimuli, but the current high valuation of lithium prices suggests a volatile market environment [5]. - The market has entered a high-volatility phase, making short-term trend trading more challenging, and industry clients are advised to focus on hedging strategies and position management [5].

特朗普20日还在社交媒体上称，他与北约秘书长吕特就格陵兰岛问题进行了电话交谈，他同意与各方在 瑞士达沃斯就该问题举行会议。特朗普称，自己已向所有人明确表明，格陵兰岛"对美国国家和全球安全 至关重要，此事没有回头路"。 来源：新华社、@CCTV国际时讯 责编：杨喻程 校对： 姚远 百万用户都在看 "黑天鹅"来袭！刚刚，欧洲股市全线杀跌！ 100%关税！美国，突发威胁！事关芯片，韩国紧急回应！ 两大利空突袭！A50走低，亚太市场遭"双杀"！ 据新华社消息，美国总统特朗普20日凌晨在社交媒体上发布图片 ，他手拿美国国旗登上格陵兰岛，身后 站着美国副总统万斯和国务卿鲁比奥，旁边指示牌上写着"格陵兰岛2026年成为美国领土"。 特朗普当天还发布了另一张图片：他在白宫办公室与欧洲领导人会面，后面展板上的地图中， 除美国本 土外，加拿大、格陵兰岛和委内瑞拉均被美国国旗覆盖。 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 ...

1月20日晚间，上海期货交易所（下称"上期所"）发布通知，大面积调整铜、铝、黄金、白银等期货相关合约的交易保证金比例和涨跌停板幅度。 根据通知，自2026年1月22日（星期四）收盘结算时起，铜期货已上市合约的涨跌停板幅度调整为8%，套保持仓交易保证金比例调整为9%，一般持仓交易保证金比 例调整为10%；铝期货已上市合约的涨跌停板幅度调整为8%，套保持仓交易保证金比例调整为9%，一般持仓交易保证金比例调整为10%。与此同时，上海国际能源 交易中心对国际铜也做出同步调整，国际铜期货已上市合约的涨跌停板幅度调整为8%，套保持仓交易保证金比例调整为9%，一般持仓交易保证金比例调整为 10%。 贵金属方面，黄金期货AU2602、AU2603、AU2604合约涨跌停板幅度调整为16%，套保持仓交易保证金比例调整为17%，一般持仓交易保证金比例调整为18%； 黄 金期货AU2606、AU2608、AU2610、AU2612、AU2702合约涨跌停板幅度调整为15%，套保持仓交易保证金比例调整为16%，一般持仓交易保证金比例调整为 17%；白银期货AG2602、AG2603、AG2604合约涨跌停板幅度调整为17%，套保持仓 ...

Core Viewpoint - Debon Holdings is set to become the first actively delisted company in A-shares for 2026, as it voluntarily withdraws its stock from the Shanghai Stock Exchange to resolve competition issues with JD Logistics [2][4][10]. Group 1: Delisting Announcement - On January 20, Debon Holdings announced its intention to withdraw its A-share listing on the Shanghai Stock Exchange and apply for trading on the National Equities Exchange and Quotations (NEEQ) delisting section [2][4]. - The stock will be suspended from trading starting January 21, 2026, following the shareholder meeting resolution [4][7]. - The company is offering investors a cash option at a price of 19 CNY per share, which represents a 35.33% premium over the last trading price of 14.04 CNY [2][4]. Group 2: Reasons for Delisting - The delisting is not due to operational difficulties but is part of a commitment made by JD Group to resolve competition issues with JD Logistics following its acquisition of Debon Holdings in 2022 [10]. - JD Group's acquisition aimed to enhance the efficiency of its logistics business and included a promise to address competition within five years [10]. Group 3: Financial Performance - In the first three quarters of 2025, Debon Holdings reported revenue of 30.27 billion CNY, a year-on-year increase of 6.97%, but recorded a net loss of 277 million CNY, marking its first loss in the same period since its IPO in 2018 [11]. Group 4: Future Operations - Post-delisting, Debon Holdings will integrate with JD Logistics while maintaining its brand and operational independence [12]. - The company aims to leverage JD Logistics' resources to enhance its service offerings and contribute to a modern logistics service system [12].

Core Viewpoint - The announcement from six departments aims to support the development of community family services such as elderly care, childcare, and domestic services by providing tax exemptions and financial incentives to relevant institutions [2][4][10]. Group 1: Tax and Fee Policies - Institutions providing community elderly care, childcare, and domestic services will enjoy tax exemptions on income from these services, specifically exempting them from value-added tax [4]. - Income from community elderly care, childcare, and domestic services will be calculated at 90% for taxable income purposes [5]. - Properties and land used for these services will be exempt from deed tax, property tax, and urban land use tax [6][7]. - Specific conditions for domestic service companies to qualify for tax exemptions include signing tripartite agreements with service workers and clients, paying wages, and managing service workers [8]. Group 2: Financial Policies to Boost Consumption - The Ministry of Finance has introduced five financial policies to stimulate domestic demand, focusing on enhancing consumption and expanding private investment [10]. - The implementation period for loan interest subsidies for service industry operators and personal consumption loans has been extended to December 31, 2026, maintaining a subsidy rate of 1% [10]. - Optimizations to personal consumption loan subsidies include expanding the support scope to include credit card installment payments, increasing subsidy limits, and broadening the range of eligible financial institutions [11][12].

1月19日，北京市科学技术委员会、中关村科技园区管理委员会官网发布了《2025年度北京市科学技术奖杰出青年中关村奖评审结果公示通知》。 通知称，根据《北京市科学技术奖励办法》及《北京市科学技术奖励办法实施细则》有关规定，北京市科学技术奖人物奖评审委员会已完成2025年度北京市科学技 术奖杰出青年中关村奖的评审，现对评审结果进行公示。 其中，北京大学韦东奕位列"2025年度北京市科学技术奖评审委员会评审结果目录杰出青年中关村奖"候选人目录，提名者为文兰、王诗宬——二人均为数学家、中 国科学院院士。 韦东奕1991年出生于山东济南，浙江东阳人。在山东师大附中读高中期间，他曾在第49届、50届国际数学奥林匹克竞赛中，连续两次以满分成绩获得国际金牌。 2010年，韦东奕被保送至北京大学就读，随后参与北大"本博连读特别计划"，并于2019年毕业后留校任教。 2021年5月，韦东奕接受采访时手提一瓶矿泉水、两个馒头的形象引发网友热议。网友在了解韦东奕的数学才华和经历后，称他为"韦神"。 北京大学数学科学学院官网介绍称，韦东奕2017年12月起在北京国际数学研究中心进行博士后研究，2019年12月起任北京大学助理教授。 来 ...

Macro Dynamics - The Ministry of Natural Resources and the Ministry of Housing and Urban-Rural Development have issued a notice to further support urban renewal actions, allowing for a transitional policy period of up to 5 years for the development of state-supported industries on existing land and property resources [2] - Guangzhou is actively promoting legislation for the renewal of buildings on state-owned land, aiming to address core obstacles and implementation challenges in urban renewal, including improving top-level design and enhancing public welfare [5] Oil Price Adjustment - Domestic gasoline and diesel prices will increase by 85 yuan per ton starting January 20, marking the first price hike since 2026, with an average increase of 0.07 yuan per liter for 92 and 95 gasoline and 0 diesel [3] Financial Institutions - Guiyang Bank announced that its shareholder, Guiyang State-owned Assets, has pledged approximately 280 million shares, accounting for 7.65% of the bank's total share capital [9] - The Shaanxi Financial Regulatory Bureau has approved the dissolution of Anse Agricultural Bank, with all its business and assets to be inherited by the Agricultural Bank of China [10] - Northeast Securities expects a 69.06% year-on-year increase in net profit for 2025, driven by improved investment business returns and wealth management income [11] Market Data - The ChiNext Index fell by 1.79%, while the real estate and chemical sectors showed strength, with several stocks reaching their daily limit [12] - The total margin balance in the two markets decreased by 8.632 billion yuan as of January 19 [13] - The Hang Seng Index closed down 0.29%, with notable declines in technology stocks [14] Company Dynamics - Hikvision reported a 18.46% year-on-year increase in net profit for 2025, with total revenue reaching 92.518 billion yuan [16] - Yonghui Supermarket expects a net loss of 2.14 billion yuan for 2025 due to significant operational adjustments and asset impairments [18] - Longzi Co. anticipates a net profit increase of 245.25% to 302.8% for 2025, largely due to the disposal of certain stocks [19] - Gree Electric plans to mass-produce silicon carbide chips for automotive applications, aiming to supply half of the chips for GAC Group vehicles [20] - Tongfu Microelectronics expects a net profit increase of 62.34% to 99.24% for 2025, benefiting from structural growth in the semiconductor industry [24] - iFinD anticipates a net profit increase of 50% to 80% for 2025, driven by advancements in AI and increased market activity [25]

Core Viewpoint - The insurance asset management industry is experiencing a decline in the registration of debt investment plans, equity investment plans, and insurance private equity funds, with a total of 314 registered plans and a scale of 510.443 billion yuan in 2025, representing a year-on-year decrease of 20.71% in quantity and 26.08% in scale [2]. Debt Investment Plans - In 2025, the insurance asset management institutions registered 285 debt investment plans, a year-on-year decrease of 24%, with a registration scale of 441.905 billion yuan, down 28.46% [3]. - The decline in debt investment plans is attributed to changes in the economic financing structure, particularly in traditional industries like real estate and infrastructure, which are undergoing adjustment cycles and experiencing significant financing contractions [3]. - The average investment yield for newly registered debt plans in 2025 is 3.61%, with an average investment term of 7.6 years, indicating a downward trend in yields compared to previous years [4]. Equity Investment Plans - The insurance asset management sector is still exploring equity investment plans and private equity fund businesses, with fluctuations in the number and scale of registered equity investment products [5]. - In 2025, 22 equity investment plans were registered, an increase of 83.33% year-on-year, with a total scale of 33.532 billion yuan, up 12.52% [6]. - The registered equity investment plans vary significantly in scale, with some as low as 100 million yuan and others reaching 10 billion yuan [6]. Private Equity Funds - In 2025, seven insurance private equity funds were registered, with a total scale of 35.006 billion yuan, reflecting a year-on-year decrease of 22.22% in quantity and 18.61% in scale [7]. - The decline in the number of newly registered private equity funds is due to the maturation of previously established funds, which are now entering operational phases and gradually investing in projects [7].