打响财富保卫战！通胀下的终极答案：这三样才是真硬通货

Core Viewpoint - The article emphasizes the importance of three core assets—gold, green power certificates, and high-dividend core assets—as effective hedges against inflation in a diverse global inflation landscape since 2025 [1]. Group 1: Gold as a Hard Currency - Gold is increasingly recognized as a "final value anchor" in the 2025 monetary environment, with China's gold reserves rising to 73.9 million ounces, marking an increase of 70,000 ounces and a continuous accumulation for eight months [3]. - As of August 2025, gold accounted for 7.64% of China's reserve assets, reflecting the national acknowledgment of gold's value preservation attributes [3]. - The price of gold has risen over 12% in 2025, with domestic prices exceeding 480 yuan per gram, driven by global inflation expectations and risk aversion [3]. Group 2: Green Power Certificates as Policy-Driven Hard Currency - Green power certificates (referred to as "green certificates") have emerged as a new type of hard currency, supported by strong national policies aimed at promoting renewable energy [4]. - A significant policy document issued on March 18, 2025, established a dual-track mechanism for mandatory and voluntary consumption of green certificates, injecting long-term momentum into the market [4]. - From January to October 2025, the trading volume of green certificates increased by 215%, with some industry-specific certificates seeing prices rise by 35% since the beginning of the year [4]. Group 3: High-Dividend Core Assets as Equity Hard Currency - High-dividend core assets have become a crucial choice for combating rising prices, supported by stable cash flows and favorable policies [5]. - A policy issued on October 12, 2025, encourages long-term funds, such as social security and insurance funds, to increase their equity investment proportions, ensuring stability in long-term asset allocation [5]. - The average dividend yield of the CSI 300 high-dividend index stocks reached 4.2% in Q3 2025, significantly surpassing the 10-year government bond yield of 1.8025% [6]. Group 4: Configuration Logic of Hard Currencies - The inflation environment of 2025 necessitates a diversified asset allocation strategy rather than a singular focus, with gold serving as a "safety cushion" in asset portfolios [7]. - Gold should constitute 5%-10% of total household assets, while green certificates are suitable for long-term investors focusing on renewable energy projects [7]. - High-dividend core assets are recommended as a "yield engine" in portfolios, particularly in stable cash flow sectors like consumer goods and utilities [7].