Core Viewpoint - The article discusses the challenges and opportunities in ensuring financial health for family pensions in the context of China's aging population and the need for effective financial products like insurance to support elderly care [2][3][5]. Group 1: Current Situation and Challenges - China is facing an unprecedented aging population crisis, making elderly care a national concern rather than just a family issue [3]. - The report highlights the collision between traditional views on elderly care and modern challenges, with significant anxiety about retirement among different age groups, particularly those born in the 70s and 80s [15]. - The "sandwich generation" (ages 30-50) is under dual pressure from both child education (67.7% of respondents) and elder care (14.7% of respondents), indicating a lack of focus on retirement planning [15]. Group 2: Financial Health Index - The first "China Family Pension Financial Health Index Research Report" was launched, revealing an average score of 48.56, indicating that families are in an accumulation phase regarding pension planning [10][14]. - The report is based on 26,835 valid samples from 34 provincial-level administrative regions, providing a comprehensive view of the current state of family pension financial health [14]. Group 3: Asset Allocation and Pension Models - The survey found that family asset allocation is imbalanced, with over 70% in real estate and less than 5% in financial assets, highlighting a reliance on traditional pension methods [15]. - Home-based elderly care remains the mainstream model, with 46.34% of nuclear families and 49.56% of extended families preferring this approach [15]. Group 4: Recommendations for Improvement - The report suggests establishing a wealth management concept throughout the life cycle and expanding the second and third pillars of pension systems to enrich financial product offerings [16]. - It emphasizes the need for a multi-layered pension security system and improved social support, particularly for the 70s and 80s generations, who face economic, psychological, and social challenges [16].

Focus on Key Events - The National Development and Reform Commission and other departments are launching the 2025 New Energy Vehicle Rural Promotion Campaign to enhance the adoption of electric vehicles in rural areas, including measures like tax reductions and improved service networks [3][4]. - The European Central Bank's Isabel Schnabel stated that now is an opportune time to enhance the global status of the euro, driven by increased investor interest in Europe and a relative decline in the dollar's dominance [5][6]. - The State-owned Assets Supervision and Administration Commission issued a new management method for the development planning of central enterprises, emphasizing the concentration of state capital in key industries and strategic emerging sectors [6][7]. - China's public fund management scale has surpassed 33 trillion yuan for the first time, reflecting a significant growth trend in the wealth management sector [8]. - Central Huijin has increased its control over eight securities firms, potentially leading to a new wave of mergers and acquisitions in the securities industry [9]. Policy Developments - The 2025 New Energy Vehicle Rural Promotion Campaign aims to improve the green development level in rural areas by promoting electric vehicle usage and enhancing service support [3][4]. - The new management method for central enterprises establishes a three-tier planning system to guide the optimization of state-owned capital allocation [6][7]. Market Trends - The public fund industry is experiencing growth due to policy benefits and product innovation, indicating a robust future potential driven by increasing wealth management needs [8]. - The consolidation of securities firms under Central Huijin is expected to enhance industry concentration and drive professionalization and internationalization [9]. Economic Indicators - As of the end of May, China's foreign exchange reserves increased to $32,853 billion, supported by a recovering economy and improved trade relations [10][11].

2025年6月6日，第二届"保险家论道"研讨会暨中国保险竞争力排行榜发布会在北京成功举 办。本次研讨会由清华大学五道口金融学院《清华金融评论》编辑部主办，会议主题 为："保险服务中国式现代化"。会议上，多位来自国内保险领域的顶尖学者和资深从业 者，围绕保险行业如何做好五篇大文章，推动经济高质量发展等话题进行交流探讨。现场 座无虚席，受到社会各界人士的广泛关注。 北京保险行业协会会长陈志强以《"创新驱 动，服务首都"——共绘保险业高质量发展新蓝图》为题做主题演讲。 陈志强 提出，面对中国式现代化进程中的新机遇与新使命，北京保险业要在"创新驱动、服 务首都"的实践中走在前列、作出示范。他表示，北京保险业将持续夯实风险治理体系，强 化"自律+监管+科技"三位一体机制，提升行业韧性与风险防控能力；深化产品与制度创新， 探索绿色保险、科技保险、长期护理保险等新兴领域，推动"商保+社保"融合；服务国家重大 战略与首都民生保障，不断拓展在城市治理、防灾减灾、普惠保障等方面的应用场景；并加 快金融科技转型，赋能保险服务提质增效。此外，北京还将积极推动区域协同与政策创新， 建设"保险+社会治理"新模式，努力打造具有首都特色的高 ...

Core Viewpoint - The construction of a unified national market is a crucial measure for promoting high-quality economic development and serves as an important institutional guarantee for achieving Chinese-style modernization [6][7]. Summary by Sections National Unified Market Construction - The 20th National Congress of the Communist Party of China emphasized the need to build a unified national market and deepen factor market reforms, which was further highlighted in the decisions made during the 20th Central Committee's third plenary session [7][8]. - The establishment of a unified market is seen as essential for facilitating domestic circulation and enhancing economic quality [6][7]. Progress and Challenges - Significant progress has been made in advancing the unified market reforms, including improving market access systems and eliminating local protectionism [3][4]. - Despite these advancements, challenges remain, such as market fragmentation and high transaction costs, necessitating further reforms to strengthen the unified market [3][4]. Principles for Reform - The construction of a high-level socialist market economy should combine effective markets with proactive government intervention, ensuring fair competition and unified property rights protection [4][5]. - A dual approach of establishing new regulations while abolishing outdated ones is necessary to facilitate the unified market's development [4]. Global Integration - The unified market should align with international standards, particularly in areas like data flow and intellectual property protection, to enhance domestic market internationalization [4][5]. Expert Insights - Experts emphasize the importance of a unified capital market and the role of data enterprises in the market's development, highlighting the need for regulatory frameworks that support these initiatives [9][10].

Core Viewpoint - The article discusses the continuous increase in China's gold reserves by the central bank, analyzing the underlying logic, factors influencing gold prices, and the outlook for gold prices in the coming years [1][2]. Group 1: Reasons for Continuous Increase in Gold Reserves - The central bank's continuous increase in gold reserves signals an optimization of reserve structure, as gold reserves account for only 7% of foreign exchange reserves, significantly lower than the global average of 15% [4]. - It supports the internationalization of the Renminbi, as gold enhances the credibility of sovereign currency and underpins the cross-border payment system (CIPS) covering 109 countries [4]. - The move is a strategic response to complex international situations, including fluctuating US-China tariffs and escalating geopolitical risks, prompting the central bank to prepare for safe-haven assets [4]. Group 2: Factors Influencing Gold Price Trends - The purchasing trends of central banks significantly impact gold prices, with global central bank purchases reaching 1,045 tons in 2024, supporting a rising price trend [7]. - The strength of the US dollar affects gold prices inversely; a weaker dollar typically leads to higher gold prices, as seen with the anticipated interest rate cuts by the Federal Reserve in June 2025 [7]. - Geopolitical risks, such as trade tensions and conflicts, drive gold prices up during periods of increased uncertainty [7]. - Inflation and real interest rates also play a crucial role; rising inflation enhances gold's appeal as an anti-inflation asset [7]. - Technical factors, including COMEX gold futures positions and ETF fund flows, influence gold price movements [7]. Group 3: Future Outlook for Gold Prices - Current gold prices are experiencing high-level fluctuations, with resistance at $3,500 per ounce and support between $2,900 and $3,200 per ounce [7]. - Goldman Sachs predicts that gold prices may reach $4,000 per ounce by mid-2026, driven by supply shortages, ongoing central bank purchases, and geopolitical risk premiums [8]. - The trend towards de-dollarization is expected to support higher gold prices, as the global monetary system becomes more diversified, enhancing the roles of gold, the euro, the Renminbi, and emerging market currencies [8].

2025年6月6日，在清华五道口《清华金融评论》举办的第二届"保险家论道"研讨会暨2025中国保险竞争力研究报告发布会上，华泰财险凭借卓越 的综合经营实力，从行业竞争中脱颖而出，荣膺"年度财险高质量稳健经营"紫荆奖。这一权威奖项基于10项量化指标严格评选，充分肯定了华泰 财险在价值成长、稳健经营及差异化发展方面的突出表现。 未来，华泰财险将不忘初心，继续践行以客户为中心的核心价值观，强化专业承保能力，提升风险定价能力，坚守质量效益型发展理念，致力于 成为细分市场的领导者，同时，为客户、股东和员工负责，积极履行社会责任。 来源 | 华泰财险 编辑丨 兰银帆 关于清华五道口《清华金融评论》"紫荆奖" "紫荆奖"由清华五道口《清华金融评论》根据2025年中国保险竞争力研究报告的客观数据及保险机构综合表现综合评选得出。榜单以《我国保险 市场竞争状况研究》为基础，采用涵盖"资本实力"、"盈利能力"、"成长潜力"、"风控能力"和"服务能力"五大方向的10项量化指标，结合专家意 见，对各保险公司进行客观评价和排名，旨在推动中国保险业高质量发展，充分发挥保险业的功能定位。 华泰财险以稳健经营助力行业高质量发展 华泰财险始终秉 ...

Core Viewpoint - The article discusses the challenges and opportunities in achieving healthy financial support for elderly care in the context of China's aging population and the increasing demand for quality retirement solutions [2][3]. Group 1: Current Situation and Challenges - China is facing an unprecedented aging population crisis, making elderly care a national concern rather than just a family issue [3]. - The current family financial health regarding elderly care is in an accumulation phase, with an average score of 48.56 in the China Family Pension Financial Health Index, indicating a focus on immediate needs over future planning [13]. Group 2: Insights from Experts - Experts at the conference highlighted the need for a multi-faceted approach to improve the financial health of families regarding elderly care, emphasizing the importance of financial planning and the role of insurance products [9][11]. - The dynamic evolution of family asset and liability structures was discussed, focusing on how families can achieve stable asset accumulation and intergenerational wealth transfer amidst aging trends [5]. Group 3: Survey Findings - The survey revealed that 67.7% of respondents are concerned about children's education, while 14.7% are focused on elder care, indicating a dual pressure on the "sandwich generation" [13]. - The predominant mode of elderly care remains home-based, with 46.34% of nuclear families and 49.56% of extended families preferring this approach [14]. Group 4: Recommendations - The report suggests establishing a comprehensive wealth management approach throughout the life cycle and expanding the second and third pillars of pension systems to enhance the variety of financial products available [14]. - There is a need for increased awareness and education on pension financial products, particularly for the 70s and 80s generations, to alleviate future retirement pressures [14].

以下文章来源于太辉研究 ，作者沈建光、朱太辉 从交易治理来看，这一认识也没有分析稳定币背后的技术差异。 比特币、以太坊等加密资产的发 行交易依赖工作量证明（PoW）、权益证明（PoS）等共识算法，是完全去中心化，价格完全由 太辉研究 . 本平台主要发布朱太辉博士关于金融发展与宏观经济、金融科技与数字经济、金融监管与货币政策等领 域的研究观点。所发成果均为个人学术观点，与任何单位无关！ 文/ 京东集团首席经济学家，中国首席经济学家论坛理事 沈建光 ，京东集 团高级研究总监 朱太辉 2023年下半年以来，稳定币步入了快速增长轨道，但国内对稳定币 的认识还存在不少误区，既涉及稳定币的功能定位、稳定属性，也 涉及稳定币与央行数字货币的关系，更涉及稳定币对货币主权、货 币国际化和非法金融活动的影响，导致在发展离岸或者在岸人民币 稳定币上缺乏政策共识。接下来，应当尽快厘清这些认识误区，全 面客观地认识稳定币的功能属性和战略价值，稳妥推进离岸人民币 稳定币发展，为境内人民币稳定币发展打下基础，同时为人民币国 际化提供新的引擎。 2023年下半年以来，稳定币步入了快速增长轨道，当前市场规模已经超过了2300亿美元，持有的 活 ...

财经杂志 . 文/中国社科院世经政所博士后 谢慧敏、 中国社科院世经政所研究员 杨盼 盼 、中国社科院世经政所研究员 徐奇渊 4月以来，特朗普政府的关税政策经历了剧烈波动与多次重大调整。 特 别 是 针 对 中 国 ， 美 国 先 是 施 加 " 对 等 关 税 " ， 随 后 又 多 次 提 升 关 税 ， 最 终 将 税 率 加 征 至 14 5% ， 这 可 被 视 为 一 次 极 限 关 税 的 压 力 测 试。 在如此高的关税下，4月中国对美出口同比下降21.3%，下降幅度显 著低于此前各类模拟测算的结果。其原因何在？可持续性如何？本 文尝试基于美国进口商提单层面的微观数据做逐一回答。 以下文章来源于财经杂志 ，作者谢慧敏 等 《财经》杂志官方微信。《财经》杂志由中国证券市场研究中心主办，1998年创刊，秉承"独立、独 家、独到"的新闻理念，以权威性、公正性、专业性报道见长，是政经学界决策者、研究者、管理者的 必读刊物。 抢进口在"对等关税"早期发挥作用 基于Panjiva数据，4月15日-5月13日，美国从中国海运进口货值同比下降15.5%，这与中国海关总 署公布的4月中国对美出口下降约21%较为 ...

Core Viewpoint - The "2025 China Insurance Competitiveness Research Report" aims to provide insights for the high-quality development of China's insurance industry and to enhance its functional positioning [4][5]. Group 1: Industry Overview - 2024 is a crucial year for achieving the goals of China's "14th Five-Year Plan," with significant reforms and modernization efforts outlined by the 20th Central Committee [4]. - The insurance industry is expected to see continuous premium income growth and improved investment performance in 2024, with advancements in product design, business expansion, and risk management [4][5]. - The "New National Ten Articles" issued by the State Council sets developmental goals for the insurance industry by 2029 and 2035, providing a new framework for reform [4][5]. Group 2: Research Report Structure - The report consists of two main parts: the "2025 China Insurance Competitiveness Ranking" and the "2025 China Insurance Competitiveness Analysis Report" [6]. - The ranking evaluates insurance companies based on ten indicators across five dimensions, including capital strength, profitability, business capability, risk control, and service capability [6][7]. - The analysis report tracks significant changes and events in the insurance industry throughout 2024 and offers recommendations for promoting high-quality development [7][18]. Group 3: Competitiveness Rankings - The "2025 Life Insurance Competitiveness Ranking" includes detailed metrics such as total assets, actual capital, net profit, market share, and solvency ratios for various life insurance companies [9][10]. - The "2025 Property Insurance Competitiveness Ranking" similarly evaluates property insurance companies based on total assets, net profit, market share, and actual capital [14][15]. Group 4: Economic Context - In 2024, China's GDP reached 134.9 trillion yuan, growing by 5%, contributing approximately 30% to global economic growth [18]. - The employment rate remained stable, with 12.56 million new urban jobs created and an average urban unemployment rate of 5.1% [18]. - The broad money supply (M2) increased by 7.3% year-on-year, reaching 313.5 trillion yuan by the end of the year [18].