Core Viewpoint - Pinduoduo has launched the "Spring Festival Never Closes" initiative to ensure the supply of essential goods during the Spring Festival, enhancing subsidies for various food categories and implementing multiple food safety measures to guarantee consumer confidence in purchasing [1][4]. Group 1: Food Safety Measures - The platform has intensified compliance checks on food merchants' qualifications, increasing the frequency of verification and using algorithmic models for real-time monitoring of product compliance [1][2]. - Specific measures for "cold processed pastries" include requiring merchants to provide detailed food production licenses and imposing penalties for non-compliance [2]. - Pinduoduo will conduct real-time inspections of advertisements and product information to intercept false claims and impose penalties based on the severity of violations [2]. Group 2: Governance and Compliance - Starting February 1, 2026, new regulations will enhance the governance of live-streaming merchants, focusing on food categories and content management [3]. - The platform is developing a comprehensive food database to improve oversight and has established a special governance team for food safety, increasing regular inspections in collaboration with accredited testing agencies [3]. - Pinduoduo has implemented a "minor mode" to prevent merchants from selling alcohol to minors, reinforcing its commitment to consumer protection [3]. Group 3: Future Commitments - The company aims to continuously improve its governance measures and comply with national laws and regulations, ensuring consumer rights are fully protected [4].

Core Viewpoint - Jian Nan Chun's success lies in its ability to integrate cross-industry collaboration and word-of-mouth marketing into a mutually reinforcing cycle, rather than viewing them as mere tools for traffic acquisition or sales promotion [1][15]. Cross-Industry Collaboration - Jian Nan Chun employs a multi-faceted marketing strategy that includes cross-industry collaboration and word-of-mouth marketing to attract new audiences beyond traditional liquor consumers [2][10]. - The brand's collaboration with the national comic IP "Jian Lai" for a short film during the Spring Festival effectively merges traditional culture with modern aesthetics, appealing to younger consumers [4][5]. - The short film serves as a natural product placement, enhancing emotional resonance with the audience, which is more effective than traditional advertising [7]. - Jian Nan Chun's partnership with China National Geographic for a special Spring Festival film further elevates the brand's cultural significance and value recognition [8]. Word-of-Mouth Marketing - Jian Nan Chun's word-of-mouth marketing strategy encompasses a full-cycle system from content creation to data validation, focusing on cultural heritage and immersive experiences [10]. - The brand collaborates with various platforms and IPs to create unique events that blend traditional liquor culture with modern festivities, enhancing consumer engagement [10][11]. - The brand's visual and promotional materials are unified across all channels, reinforcing brand identity and message consistency [11]. - Interactive online activities and offline experiences are designed to immerse consumers in the festive atmosphere, enhancing brand connection [13]. Market Impact - Jian Nan Chun's dual strategy has yielded significant market responses, with notable sales achievements during promotional events like Double Eleven [15]. - The brand's approach addresses key trends in the liquor market, including the shift from cultural symbols to value systems, and from single products to experiential ecosystems [15][16]. - The integration of cross-industry collaboration and word-of-mouth marketing provides rich content and trust validation, positioning Jian Nan Chun favorably in a competitive market [16].

Core Viewpoint - The transition of the real estate market from an incremental to a stock era has led to non-residential stock renovation projects becoming a significant source of affordable rental housing in Beijing [2][5]. Group 1: Non-Residential Stock Renovation Projects - Non-residential stock primarily refers to completed commercial, office, hotel, and apartment buildings. The implementation of commercial office purchase restrictions in Beijing since 2017 has prompted developers to find ways to monetize idle assets in suburban areas [2][5]. - The Dragon Lake Guanyu Capital Airport project, which is a typical example of non-residential stock renovation, includes 660 units, with 300 designated for recent graduates working in Beijing [5][6]. - From 2022 to 2024, 28 non-residential stock renovation projects were recognized by Beijing's housing authority, contributing to 18,000 units, making it the second-largest source of affordable rental housing [6][9]. Group 2: Impact on Urban Development - Renovating idle commercial projects into rental housing not only revitalizes the projects themselves but also enhances the surrounding urban infrastructure, including public utilities and community amenities [10]. - The Dragon Lake Guanyu project, despite having only 660 units, has created a small living circle that injects vitality into the surrounding community, thereby increasing the commercial viability of nearby businesses [10][11]. - The transformation of commercial properties into rental housing is becoming a common strategy in many cities, with the potential to significantly boost local economies by increasing foot traffic and consumer activity [11]. Group 3: Policy Evolution - The Chinese government has progressively encouraged the conversion of non-residential stock into rental housing since 2016, with various policies formalizing this approach [13][14]. - By 2023, the Beijing housing authority implemented measures to simplify the approval process for such renovations, significantly lowering the barriers to entry for developers [15]. - The proportion of non-residential stock renovation projects in Beijing is expected to rise from under 10% to nearly 30% by the end of 2025, marking a shift towards prioritizing stock renovation alongside new construction [15][16].

在波谲云诡的金融市场里，普通人如何真正留住财富？他应对 这个复杂金融世界的"处方"，竟是一道简单的数学题和一条不 容逾越的铁律。 作者：蔡越坤 封图：图虫创意 2026年的第一声资本惊雷，并非源于人工智能（AI）或是机器人等科技创新，而是来自黄金、白 银等有色金属。 国际金价以一种近乎癫狂的姿态连创历史新高，最高触及5626.8美元/盎司，带动A股有色金属板 块"脱离地心引力"般暴涨22.59%；随后金价在1月30日上演 "高台跳水"，创下近40年来最大单 日跌幅，部分热门有色个股暴跌20%…… 当被问及最近是否会盯黄金、有色这类狂热与动荡的板块时，62岁的吴凯说："我从来不去看这些 板块，因为我喜欢分散配置。我也不追热门，因为热门行业行情更容易暴涨暴跌，我内心承受不 了。 他补充说，当散户注意到某个板块狂热的时候，相关个股已经涨得很高，此时再入场很可能就接过 了上涨的"最后一棒"。 在A股市场，有人追逐热点、频繁交易；有人执着于个股研判，博弈行业风口。吴凯是一名退休内 科医生，没有金融科班背景，却用 20年时间穿越了2008年金融危机、2015年股票市场异常波 动、2022年熊市乃至信托爆雷潮等市场巨震，将 ...

这是一起复杂的纠纷，核心指向中房北京公司为获取贵阳银行 贷款而收购贵阳银行名下不良债权的一系列操作，后续引发了 资金流转闭环、债务追讨、债权转让争议等一系列问题，相关 交易的合规性与金融边界也成为多方争议的核心。 作者：田国宝 封图：图虫创意 2026年1月，贵阳市中级人民法院（下称"贵阳中院"）公告一份维持原判的再审裁定，再次将贵 阳银行、辛集皮革城有限公司（下称"辛集皮革城"）、中国房地产开发北京有限公司（下称"中房 北京公司"）及关联公司天地合明科技集团有限公司（下称"天地合明"）之间的矛盾推至台前。 这是一起复杂的纠纷，核心指向中房北京公司为获取贵阳银行贷款而收购贵阳银行名下不良债权的 一系列操作，后续引发了资金流转闭环、债务追讨、债权转让争议等一系列问题，相关交易的合规 性与金融边界也成为多方争议的核心。 针对相关方贷款安排、不良债权交易及相关法律争议等问题，经济观察报记者多次联系贵阳银行、 辛集皮革城、中房北京公司及天地合明等相关方采访，截至发稿前，各方均未作出官方回应，亦未 回复书面采访提纲。 起因 根据中房北京公司法定代表人刘克洋签字、由辛集皮革城提交给法院的《情况说明》，2019年9 月，刘 ...

2026年春节，一张由AI健康助手"蚂蚁阿福"发放的"健康 福"，不仅点燃了支付宝"集五福"活动的新热度，更被视为蚂 蚁集团在马年春节AI入口争夺战中的一次精准卡位。最新数据 显示，该活动已推动蚂蚁阿福跃居苹果App Store应用排行榜 第二位，成为健康类赛道的最大赢家。 作者：张淼 封图：图片资料室 2026年春节，一张由AI健康助手"蚂蚁阿福"发放的"健康福"，不仅点燃了支付宝"集五福"活动的 新热度，更被视为蚂蚁集团在马年春节AI入口争夺战中的一次精准卡位。最新数据显示，该活动已 推动蚂蚁阿福跃居苹果App Store应用排行榜第二位，成为健康类赛道的最大赢家。 "健康福"走红，社会情绪是关键变量 "集五福"的持久生命力，不仅在于其互动形式，更在于它持续捕捉并回应社会情绪的变化。 2016 年移动支付普及初期，全民疯抢 "敬业福"，折射出大众对数字新互动的追捧；2020 年疫 情之下，"全家福" 与 "沾福气卡" 上线，让集福成为 "云拜年" 的情感纽带，填补了线下团聚的 空白；此后IP 联名、AI 年画等创新不断扩展用户圈层。 2026 年，"健康福" 的登场成为集福与社会情绪共振的新落点。当科技圈 ...

2026年2月11日，国内白银期货主力合约报价为20944元/公斤，较1月30日创下的历史高点 32382元/公斤下跌35%。 在这轮巨震过程中，有人惨痛被迫离场，有人赚得盆满钵满。 根据东方财富网数据，1月26日—2月11日，中财期货席位通过沽空白银期货，浮盈一度达到 33.18亿元。同时，令人叹为观止还有中财期货席位的大举建仓时机——1月26日，即在白银遭遇 单日史诗级大跌的4天前。 这一度引发市场猜测，精准沽空是否源于中财期货的自营资金。2月11日，经济观察报记者致电中 财期货相关人士，对方回复称，中财期货席位在白银期货合约的持仓数据及变化，反映公司客户在 白银期货的头寸变动。 作为一家国内大型管理期货策略（CTA）私募基金的交易员，韩修远有着逾9年的白银期货投资经 验。他向记者透露，期货公司的期货品种持仓数据，主要是期货公司代客持有的仓位。即便期货公 司使用自营资金参与期货交易，通常在单个期货品种投资方面面临较高的额度约束，资金量不会很 大。 在这轮白银价格史诗级回调行情里，中财期货席位的沽空操作 堪称精准。至今，白银期货投资圈子仍在复盘中财期货席位的 白银期货沽空操作，研究他们到底如何精准预判白银期 ...

Core Viewpoint - The company emphasizes its commitment to sustainable development and green finance, positioning itself as a key player in promoting industrial upgrades and green transformation in alignment with national carbon neutrality goals [2][4]. Group 1: Green Finance Initiatives - The company actively integrates green finance into its business model, focusing on sectors such as hydropower, wind power, and water conservancy to support national strategies [4][6]. - In hydropower, the company has provided tailored financial solutions for significant projects like the Zala Hydropower Station, which is expected to generate 3.946 billion kWh annually, saving 1.3 million tons of standard coal each year [6]. - The company has also supported the photovoltaic sector by addressing funding shortages for projects like the Golmud A Photovoltaic Power Station, facilitating capacity expansion and stable green energy output [6][7]. Group 2: Infrastructure and Vehicle Financing - The company has innovated financing models for urban infrastructure, aiding a leading charging operator in optimizing asset utilization and enhancing operational scale [7]. - In the commercial vehicle sector, the company has developed financing products for electric light trucks and heavy-duty vehicles, promoting the replacement of high-pollution vehicles and supporting the logistics industry's green transition [7]. Group 3: Innovative Financial Tools - The company has launched various green financing products, including green medium-term notes and asset-backed special plans, to channel funds into the renewable energy sector [8]. - In 2025, the company received multiple awards for its excellence in green finance, highlighting its innovative practices and contributions to the industry [8]. Group 4: Social Responsibility and Community Engagement - The company has initiated the "Golden Sunshine Road" project, providing distributed photovoltaic power stations to remote schools, benefiting over 2,700 children by improving their learning environments [12][13]. - The "Golden Brick Dream" project focuses on enhancing rural education infrastructure, having built new facilities for over 5,000 students across various regions [15]. - The company aims to balance industrial upgrades with social responsibility, continuing to innovate in green finance and community support initiatives [15].

这是国家层面首次针对汽车行业价格行为出台系统性专项规 范。 作者：周菊 封图：图虫创意 2月12日，市场监管总局正式发布《汽车行业价格行为合规指南》（下称《指南》），从定价策 略、明码标价、促销赠品、付费解锁、价格串通、低价倾销等全链条环节，为汽车行业划出明确的 法律红线。这是国家层面首次针对汽车行业价格行为出台系统性专项规范。 市场监管总局曾在起草说明中指出，近年来，随着新能源汽车快速发展及新型商业模式涌现，汽车 行业价格行为日趋复杂，价格标示不规范、价格欺诈、价格串通、非理性竞争等问题频发，严重扰 乱市场秩序，侵害消费者和经营者合法权益。《指南》的出台，旨在统一监管尺度，明确法律边 界，引导企业依法合规经营。 《指南》共五章二十八条，覆盖整车及零部件生产企业、品牌授权经销商、汽车销售企业及新兴汽 车交易平台等。针对生产企业，《指南》明确禁止以排挤竞争对手为目的，使整车及零部件实际出 厂价格低于生产成本。除依法处理积压商品外，通过折扣、补贴、以物抵债、批量优惠、压低标价 等方式变相亏损销售的，均被列为"重大法律风险"。同时，禁止车企与零部件企业之间进行价格 串通。 针对供应链价格异动，《指南》第十一条特别强 ...

有受访者指出，无障碍包装的普及是个意识问题。目前，已有 少数药企主动在药盒上印刷盲文。不过，要让数以千万计的人 群吃药更安全、更有底气，还可以有更多具体而微的系统性支 持。 作者：刘晓诺等 封图：图虫创意 生病吃药，再自然不过。然而，吃药这件小事，并非对所有人都那么"一目了然"。 感冒后的程海凭记忆摸出一包粉剂，冲泡开，入口极咸。原来他喝的不是感冒灵颗粒，而是方便面 调料。 程海今年25岁，因一场大病自幼双目失明，仅能感知到周遭有无光亮。回想那次经历，程海仍心 有余悸："还好只是调料，如果是其他药，我可能会出问题。" 中国绝大部分药盒包装都没有盲文等无障碍措施，盲人等视障人士以及视力衰退的老年人，几乎无 法直接从包装上获取药名和用法用量等关键信息。 世界卫生组织援引的一项研究估测，2020年，中国有约890万名盲人。广义的视力障碍者则更 多，据中国残疾人联合会数据，中国有1732万名视障人士。 2026年1月27日，新修订的《中华人民共和国药品管理法实施条例》正式公布，其中要求："药品 上市许可持有人应当按照国务院药品监督管理部门的规定，提供语音、大字、盲文或者电子等无障 碍格式版本的药品标签、说明书，方便残 ...