1月21日，国务院国资委网站发布 7户中央企业14名领导人员职务任免信息： 来源：国务院国资委网站、长安街知事 中国盐业集团有限公司、中国广核集团有限公司、中国航空油料集团有限公司 申兆军任中国盐业集团有限公司党委书记、董事长，免去其中国航空油料集团有限公司党委 书记、党委常委、董事长、董事职务。 廖龙辉任中国广核集团有限公司党委常委、纪委书记，免去其中国航空油料集团有限公司党 委常委、纪委书记职务。 免去李耀强的中国盐业集团有限公司党委书记、董事长、董事职务，退休。 中国保利集团有限公司 祖斌任中国保利集团有限公司党委书记、董事长。 免去梁伟华的中国物流集团有限公司党委常委职务，不再担任中国物流集团有限公司副总经 理职务，退休。 中国中煤能源集团有限公司 聘任赵永峰、高立刚为中国中煤能源集团有限公司外部董事，兰春杰、洪水坤不再担任中国 中煤能源集团有限公司外部董事职务。 中国交通建设集团有限公司 聘任高春雷、李跃平、贾世瑞、樊启祥为中国交通建设集团有限公司外部董事，刘茂勋不再 担任中国交通建设集团有限公司外部董事职务。 中国物流集团有限公司 ...

已抛售其持有的绝大部分美国国债 1月21日晚间，据瑞典《工业日报》报道，瑞典养老基金Alecta因美国政治与金融环境的不稳定出售其 持有的大部分美国国债， 以应对美国政治中不断上升的风险与不确定性。 此次减持规模估计为700亿至 800亿瑞典克朗。类似地，丹麦的Akademiker Pension也计划在本月抛售价值1亿美元的美国国债。 减持细节显示，出售规模估计约77亿至88亿美元。 德银CEO紧急致电美财长 为"抛售美债"报告"灭火" 美国财政部长斯科特·贝森特表示，德意志银行首席执行官克里斯蒂安·泽温曾致电他，否认该行一名分 析师发布的一份报告——该报告称欧洲投资者可能会抛售美国资产。 贝森特在瑞士达沃斯世界经济论坛上说："所谓'欧洲人会卖出美国资产'的说法，来自德意志银行的一 名分析师。德意志银行的CEO打电话来说，德意志银行并不认可那份分析报告。" 该分析师——外汇研究全球主管乔治·萨拉韦洛斯——周日发布报告称，在美国总统特朗普就格陵兰问 题发出威胁后，欧洲可能会降低持有美国资产的意愿。他认为，这种"美元再平衡"可能会限制欧元所受 的负面影响。 【导读】继续卖出美国资产 中国基金报记者 泰勒 大家好 ...

【导读】高盛研判 2026 年中国经济和股市 中国基金报记者 吴娟娟 1 月 20 日，高盛首席中国经济学家闪辉在媒体会上表示， 2026 年预计中国 GDP 增速为 4.8% ，出口保持强劲增长为经济提供支撑。高盛首席中国股票策略师刘劲津预计 MSCI 中 国指数年底目标点位为 100 点，沪深 300 指数年底目标点位为 5200 点。 2026 年，南向 资金净流入预计达 2000 亿美元（约 1.4 万亿元），再创新高。 出口有三大支撑 闪辉表示，过去 25 年来，中国在全球贸易中的地位发生了巨大变化。从 2000 年占美国进 口比例的 7.5% ，一路攀升至超过 20% 。 2018 年之后，中国主动进行贸易对手多元化， 中国出口占美国进口比例回到 7.5% 。 谈及未来出口走势，闪辉预测未来几年中国出口增速将维持在 5%—6% ，显著高于全球贸易 2%—3% 的增速。这一判断基于三大核心因素。 首先，全球经济稳步回升，商品需求提振。其次，中国商品在成本方面仍具优势，不同行业 领域的成本均低于竞争对手。第三，中国在稀土及供应链领域具有独特能力，国际上对华施 加关税的难度增加。 谈及人民币汇率，闪辉认 ...

Core Viewpoint - The stock of Zhite New Materials has experienced a significant increase of 211.27% from January 5 to January 21, 2026, leading to a potential application for a trading suspension due to abnormal price fluctuations [2]. Financial Performance - In 2024, Zhite New Materials reported a revenue of 2.526 billion yuan and a net profit attributable to shareholders of 73.6951 million yuan [3]. - For the first three quarters of 2025, the company achieved a revenue of 2.023 billion yuan and a net profit of 118 million yuan [3]. - The company's revenue primarily comes from its main products, including aluminum molds, protective platforms, and prefabricated components [3]. Stock Performance and Valuation - As of January 21, 2026, Zhite New Materials' stock price was 34.8 yuan per share, with a market capitalization of 14.3 billion yuan [4]. - The latest rolling price-to-earnings (P/E) ratio for Zhite New Materials is 108.43, while the price-to-book (P/B) ratio is 6.73 [3]. - In comparison, the average P/E ratio for the metal products industry is 39.14, and the average P/B ratio is 3.20, indicating a significant disparity in valuation [3].

Core Viewpoint - The recent notification from multiple government departments aims to establish and adjust a number of duty-free shops at ports of entry, enhancing the shopping experience for inbound travelers and promoting the healthy development of the duty-free retail business in China [2]. Group 1: Establishment of New Duty-Free Shops - A total of 41 new duty-free shops will be established at various ports, including Wuhan Tianhe International Airport, significantly increasing the number of duty-free shops in China [2]. - The new duty-free shops will be located at major airports and ports, enhancing the coverage and accessibility for inbound travelers [2]. Group 2: Adjustments to Existing Duty-Free Shops - The notification also includes adjustments for existing duty-free shops whose operating contracts are expiring or located at ports with changing passenger functions [2]. - This adjustment aims to optimize the existing duty-free shop network to better serve travelers and adapt to market changes [2]. Group 3: Purpose and Impact - The initiative is designed to facilitate duty-free shopping for inbound travelers, thereby supporting consumer spending and contributing to economic growth [2]. - By expanding the duty-free shop network, the government seeks to leverage these shops as a means to boost retail sales in the duty-free sector [2].

Core Viewpoint - Han Jian He Shan plans to conduct a significant asset restructuring by acquiring 52.51% of Liaoning Xingfu New Materials Co., Ltd. through a combination of share issuance and cash payment, which is expected to constitute a major asset restructuring [2]. Group 1: Transaction Details - Han Jian He Shan announced on January 21 that it intends to acquire a controlling stake in Xingfu New Materials, which is listed on the New Third Board [4][9]. - Xingfu New Materials' stock was suspended from trading starting January 21, with a closing price of 17.88 yuan per share and a total market capitalization of 3.948 billion yuan [4]. - Han Jian He Shan's stock was also suspended for one day prior to the announcement, with a closing price of 6.23 yuan per share and a market capitalization of 2.438 billion yuan, reflecting a 10.07% increase [6]. Group 2: Shareholder Information - The main shareholders of Xingfu New Materials, including Chen Xuhui, Gao Xianghan, and Guo Zhenwei, collectively hold 52.51% of the company and have signed a "Letter of Intent for Asset Purchase" with Han Jian He Shan [12][9]. - If the transaction proceeds, these shareholders will no longer hold any shares in Xingfu New Materials [12]. Group 3: Financial Performance Comparison - Xingfu New Materials reported a net profit attributable to shareholders of 20.78 million yuan for the first half of 2025, a year-on-year increase of 294.02%, while Han Jian He Shan reported a net profit of 6.38 million yuan, up 118.71% year-on-year [16][20]. - Xingfu New Materials' revenue for the same period was approximately 246.53 million yuan, reflecting a 25.20% increase compared to the previous year [17].

中国基金报记者 晨曦 【导读】上海国际机场股份有限公司原总经理黄铮霖严重违纪违法被开除党籍和公职 最新反腐通报来了！ 1 月 21 日， " 廉洁上海 " 消息显示，上海国际机场股份有限公司原总经理黄铮霖严重违纪 违法被开除党籍和公职。 日前，上海市纪委监委对上海国际机场股份有限公司原总经理黄铮霖严重违纪违法问题进行 了立案审查调查。 经查，黄铮霖身为国有企业党员领导干部，丧失理想信念，背弃初心使命，对党不忠诚不老 实，对抗组织审查；罔顾中央八项规定精神，收受可能影响公正执行公务的礼品、礼金，接 受可能影响公正执行公务的宴请和旅游活动安排，违规出入私人会所；廉洁底线失守；违规 干预和插手市场经济活动；利用职务上的便利为他人谋取利益，非法收受他人财物；利用职 务上的便利，以明显高于市场的价格向自己的亲友经营管理的单位采购商品，致使国家利益 遭受重大损失。 黄铮霖严重违反党的政治纪律、廉洁纪律、工作纪律、生活纪律，构成严重职务违法并涉嫌 受贿、为亲友非法牟利犯罪，且在党的十八大后乃至二十大后不收敛、不收手，性质严重， 影响恶劣，应予严肃处理。 依据《中国共产党纪律处分条例》《中华人民共和国监察法》《中华人民共和国 ...

【导读】三部门宣布，延续实施创新企业 CDR 试点阶段有关税收优惠政策 中国基金报记者 忆山 1 月 21 日，财政部、税务总局、中国证监会发布《关于延续实施创新企业境内发行存托凭证 试点阶段有关税收政策的公告》。 为继续支持实施创新驱动发展战略，现将创新企业境内发行存托凭证（以下称创新企业 CDR ）试点阶段涉及的有关税收政策公告如下： 一、个人所得税政策 为继续支持实施创新驱动发展战略，三部门延续实施了创新企业境内发行存托凭证（以下称 创新企业 CDR ）试点阶段的税收优惠政策。 公告显示，优惠政策主要涉及个税、企业所得税、增值税三大税种。基金君整理要点如下： 1. 个人投资者转让创新企业 CDR 差价所得暂免个税与增值税；持有创新企业 CDR 取得的股 息红利所得，实施股息红利差别化个人所得税政策，在境外已缴纳的税款可按规定予以抵 免。 2. 企业投资者和公募基金转让、持有创新企业 CDR 的差价及股息红利所得暂免企业所得税 与增值税。 3.QFII 、 RQFII 相关所得同样暂免企业所得税与增值税。 全文如下 —— 关于延续实施创新企业境内发行存托凭证试点阶段有关税收政策的公告 财政部税务总局中国证 ...

Core Viewpoint - The resource sector has seen significant growth, with many resource-related funds doubling their net value over the past year, driven by strong performance in the non-ferrous metals sector and rising prices of gold and silver [2][4]. Group 1: Performance of Resource Funds - The non-ferrous metals sector rose by 89.38% in 2025, leading the A-share market, and continued to attract attention in 2026 as gold and silver prices reached new highs [2]. - As of January 19, 2026, 176 public funds had a net value growth rate exceeding 100% over the past year, with 124 of these being actively managed equity funds [4]. - Among the funds that doubled their net value, many focused on resource sectors, particularly in passive index products, where over 40 funds were related to non-ferrous metals and gold industries [4]. Group 2: Fund Manager Strategies - Fund managers adjusted their holdings in the fourth quarter based on fundamental changes and valuation considerations, with many reallocating towards new energy resources like cobalt and lithium, while reducing exposure to traditional non-ferrous metals [10]. - The top holdings of funds like the China Europe Cycle Preferred Mixed Fund included major global mining companies and focused on sectors benefiting from supply-side reforms [10]. Group 3: Future Outlook - Fund managers remain optimistic about resource-related investments, citing factors such as global monetary easing, increased demand from AI data centers, and supply uncertainties as drivers for the resource sector [12]. - The China Europe Resource Selected Mixed Fund manager highlighted five key commodities for 2026: copper, aluminum, lithium carbonate, gold, and minor metals, while also considering opportunities in sectors like chemicals and steel [13].

在上海举办的第26届瑞银大中华研讨会上 ，奥运金牌得主、世界冠军张雨霏与来自瑞银慈善合作伙伴的学生交流互动。 张雨霏是中国杰出的游泳运动员，主项为蝶泳。她在东京2020年奥运会上获得两枚金牌，其中包括女子200米蝶泳金牌，并在巴黎2024年 奥运会上获得多枚奖牌，进一步巩固了其在国际泳坛的领先地位。张雨霏凭借其在国际游泳最高水平赛事中的稳定发挥和竞争实力备受泳 坛认可。 张雨霏此次参与的瑞银大中华研讨会已连续举办26届，致力于为客户提供对中国经济与市场发展的前瞻洞见。本届研讨会以"新前沿：识变 局, 谋增长"为主题，汇聚了超过3,600名与会嘉宾以及300多家中国领先企业代表， 围绕市场趋势、行业发展和长期机遇展开深入交流。 （CIS） 近日，奥运金牌得主、世界冠军张雨霏亮相在上海举行的第26届瑞银大中华研讨会（UBS Greater China Conference）。在一场炉边对话中，张雨霏回顾了 她在高水平竞技背后多年的坚持，分享了心理素质在赛场表现中的重要性，并探讨了如何通过持续学习和改进实现稳定发挥。 瑞银集团首席执行官安思杰（Sergio P. Ermotti）表示："我们非常欢迎张雨霏出席今年的 ...