中加基金持续完善产品体系被市场视为"二次创业"。事实上， 中加基金的第一次创业成功抓住了固收业务的周期红利，实现 了管理规模从零到千亿的突破；而第二次创业的核心任务，是 要在新的行业发展阶段中，构建起"全天候、多策略、矩阵 式"的产品能力体系。 作者：默川 封图：图片资料室 2025年5月7日，证监会正式发布《推动公募基金高质量发展行动方案》（以下简称《行动方 案》），标志着我国公募基金行业进入深化改革、提质增效的新发展阶段。《行动方案》明确提 出"大力提升公募基金权益投资规模与占比，促进行业功能发挥"。 面对政策引导与市场转型的新常态，以固收见长的银行系公募基金，其破局关键在于主动优化业务 布局，着力构建平台化、体系化的权益投研能力，从而完成从传统"资金管理"向新时代"资本赋 能"的功能升级。 11月中旬，原中航基金副总经理兼首席投资官邓海清已正式离职，其从业资格在中航基金显示已 注销。据了解，邓海清拟出任中加基金首席经济学家、首席投资官。这位在宏观、固收与权益领域 均有深厚积淀的金融老将的加盟，也是中加基金落实《行动方案》推动业务转型升级的新行动。 公开资料显示，邓海清拥有复旦大学金融学博士学位，曾在宏源 ...

2025年5月7日，证监会正式发布《推动公募基金高质量发展行动方案》（以下简称《行动方案》），标 志着我国公募基金行业进入深化改革、提质增效的新发展阶段。《行动方案》明确提出"大力提升公募 基金权益投资规模与占比，促进行业功能发挥"。 面对政策引导与市场转型的新常态，以固收见长的银行系公募基金，其破局关键在于主动优化业务布 局，着力构建平台化、体系化的权益投研能力，从而完成从传统"资金管理"向新时代"资本赋能"的功能 升级。 11月中旬，原中航基金副总经理兼首席投资官邓海清已正式离职，其从业资格在中航基金显示已注销。 据了解，邓海清拟出任中加基金首席经济学家、首席投资官。这位在宏观、固收与权益领域均有深厚积 淀的金融老将的加盟，也是中加基金落实《行动方案》推动业务转型升级的新行动。 公开资料显示，邓海清拥有复旦大学金融学博士学位，曾在宏源证券（000562）、中信证券、九州证券 等机构担任首席分析师、首席经济学家，并具备多年资产配置与投资管理经验。 权益业务系统化建设 从中加基金的发展现状来看，此次人才引进背后蕴含着清晰的战略考量。在固收领域，中加基金已形成 显著的竞争优势，成为公司规模增长的核心支柱。然而， ...

《每日经济新闻》记者获悉，11月19日，原北信瑞丰基金正式发布法定名称变更公告，显示该公司自11 月17日起更名为华银基金，已完成工商变更登记手续，后续将对旗下公募基金产品名称进行相应变更。 根据公告，从11月17日起，北信瑞丰基金正式更名为"华银基金"。公司名称变更已完成工商变更登记手 续，章程相关条款也已相应更改。 公告还显示，原以"北信瑞丰基金管理有限公司"名义签署的合同及法律文件的条款、效力及履行均不受 影响，该公司后续也将对旗下公募基金产品名称进行相应变更。 《每日经济新闻》记者注意到，就在11月18日，北信瑞丰基金密集发布了三则高管变更公告。其中，曾 在北京银行有多年工作经验的赵伟婧新任该公司督察长，赵本人从业经历涵盖基金托管、基金管理、法 律合规、内控稽核等。原首席信息官魏红生因工作原因离任，由同样也有北京银行工作经历、曾担任中 加基金信息技术部副总监的王博接任。此外，副总经理王乃力也因工作原因离任，而他在2023年还一度 代任北信瑞丰总经理。 公开资料显示，北信瑞丰基金成立于2014年3月17日，由北京国际信托和莱州瑞海投资共同发起设立， 二者的持股占比分别为60%和40%。 成立多年来，北信 ...

在国补效应逐渐减弱、传统电商流量见顶的大背景下，京东试图用高频的外卖业务来带动整个平台活跃度。为了这场仗，刘强东亲自下场送外卖、站台卖 酒。 文 | 啸 天 京东集团交出了三季度财报。 数据显示，京东三季度实现营收2991亿元，同比增长14.9%，延续了2024年四季度以来连续四个季度的双位数增长态势。然而，这份亮眼成绩单背后，却 潜藏着巨大的隐忧。 深层焦虑可能来自"国补"政策的退坡。过去一年，"国补"为京东优势的电子产品类提供了强劲的增长动力。但随着政策效应边际递减，京东亟需找到新增 长引擎来填补空缺。 尤其是大举进军的"新业务"板块。新业务板块的营收同比暴涨213.7%至155.92亿元，但经营亏损却达到创纪录的157.36亿元。将时间线拉长至今年前九个 月，京东新业务累计亏损已达318.4亿元。一换算，刘强东每天醒来，就要亏掉1.16亿元。 在国补政策效应逐渐减弱、传统电商流量见顶的大背景下，京东试图用高频的外卖业务来带动整个平台的活跃度。为了这场仗，刘强东不惜亲自下场送外 卖、站台卖酒。 然而，巨额投入目前仍未换来回报。在这场关乎京东未来的押注中，刘强东是否正将这家互联网巨头推向未知的深渊？ 外卖" ...

Core Insights - Tianfeng Securities has demonstrated significant growth and development in serving the real economy and national strategies, particularly in Hubei province [1][4][6] Group 1: Financial Performance - In the first three quarters of 2025, Tianfeng Securities achieved revenue of 2.112 billion yuan, a year-on-year increase of 57.53% [6][7] - The company reported a net profit attributable to shareholders of 153 million yuan, marking a turnaround from losses in the previous year [6][7] - As of October 2025, Tianfeng Securities' total market capitalization reached 59.23 billion yuan, an increase of 27.57 billion yuan since March 2023, moving from 16th to 5th in market capitalization among listed companies in Hubei [1] Group 2: Strategic Developments - Tianfeng Securities has facilitated nearly 930 billion yuan in financing for the real economy over the past three years, with approximately 120 billion yuan directed towards Hubei enterprises [1][3] - The company has played a crucial role in the IPO of He Yuan Biotechnology, which saw its market value grow from 60 million yuan to over 30 billion yuan, a more than 500-fold increase [2] - The acquisition of controlling stakes by Hubei Hongtai Group has transformed Tianfeng Securities into a state-owned enterprise, enhancing its resource support and strategic direction [5][6] Group 3: Market Position and Initiatives - Tianfeng Securities has been involved in significant projects, including the issuance of the first special bonds for new-generation information technology and aerospace technology [3] - The company has established itself as a key player in the capital market, assisting various enterprises in listing on multiple exchanges, including the Science and Technology Innovation Board and the Growth Enterprise Market [3][4] - The firm is actively pursuing a "second entrepreneurship" initiative, focusing on enhancing its investment banking capabilities and expanding its service offerings to local economies [7]

Core Viewpoint - Country Garden's restructuring approval reflects creditor confidence in the company's future, paving the way for a "second entrepreneurship" phase aimed at transforming operations and enhancing core capabilities [1][2] Group 1: Restructuring and Financials - Country Garden's offshore debt restructuring plan, involving approximately $17.7 billion in debt, received overwhelming support, with 83.71% of Group One (syndicated loans) and 96.03% of Group Two (USD bonds and other debts) voting in favor [1] - The domestic restructuring plan for eight bonds totaling approximately 13.3 billion yuan was also quickly approved by the end of September [1] Group 2: Strategic Shift and Management Philosophy - The company is transitioning from large-scale, rapid turnover development to a more refined operational approach, emphasizing local market understanding and tailored products and services [2] - Yang Huiyan, the chairman, highlighted the importance of cultivating a workforce that strives for excellence, aligning with the company's talent values of integrity, initiative, and results [2]

Group 1 - The core viewpoint of the article emphasizes that the approval of the debt restructuring plan is a recognition from creditors of the company's future, providing a more flexible space for the company to restore normal operations and marking a transformative phase for Country Garden, referred to as a "second entrepreneurship" [2] - Country Garden's offshore debt restructuring plan, involving approximately $17.7 billion in debt, received significant support, with 83.71% of the voting debt amount in Group One (syndicated loans) and 96.03% in Group Two (U.S. dollar bonds and other debts) voting in favor, meeting the necessary conditions for the restructuring plan [2] - The company aims to leverage the experience gained from the special task of ensuring housing delivery to systematically advance its operational transition, emphasizing the need for more employees who pursue excellence to drive this second entrepreneurship [2] Group 2 - Yang Huiyan, the chairperson of Country Garden, acknowledged the company's greatest difficulties since its inception in a recent letter, highlighting the need to shift from large-scale, rapid turnover development to refined operations in the current buyer's market [3] - The company intends to focus on understanding local needs and providing products and services that best meet the demands of different cities, emphasizing the importance of reputation in the real estate industry [3] - Yang Huiyan shared her family education philosophy, which aligns with the company's talent values, emphasizing the importance of good character, willingness to act, and delivering results as key metrics for talent evaluation [3]

Group 1 - The chemical park in Guannan County aims to achieve significant growth and development through project construction, industrial clustering, and innovative practices, marking a new stage of "second entrepreneurship" and achieving transformative development [1] - Annual supervision projects are determined through discussions among various stakeholders, including representatives from the local people's congress, enterprises, experts, and community members, focusing on safety, environmental protection, and project construction [1] - A comprehensive approach to supervision is employed, utilizing research, inspections, and legal checks, with regular follow-ups to ensure problem rectification and public disclosure of results [1] Group 2 - The integration of communication platforms aims to enhance public service by merging various functional centers, creating a comprehensive service platform for collecting public opinions, policy dissemination, and collaborative discussions [2] - Digital tools like "Digital People's Congress" and "Representative Cloud Home" APP facilitate efficient communication between enterprises, the public, and representatives, ensuring timely responses to community needs [2] - Collaborative work mechanisms are established between the development zone's representative office and local government committees, promoting joint efforts in supervision and research to ensure informed decision-making [2] Group 3 - Decision-making processes are made more transparent through public channels, allowing for broader participation from stakeholders, including enterprises and community members, in discussions on significant decisions [3] - A system for collecting public opinions is established, with representative codes placed in prominent locations to gather feedback effectively, ensuring that community concerns are addressed [3] - Annual performance goals are set for representatives, with a management system developed to track their activities and evaluate their performance at the end of each year [3]

Core Insights - Shenzhen is celebrating the 7th "Shenzhen Entrepreneur Day" and the 9th "Shenzhen Talent Day," highlighting the city's commitment to entrepreneurs and talent [1][3] - The event featured the release of the "Sixfold Blessing" initiative aimed at empowering businesses and supporting talent, with a focus on high-quality development during the 14th Five-Year Plan [1][5] Group 1: Development Initiatives - During the 14th Five-Year Plan, Futian District will focus on creating "6 Innovation Valleys + 4 Centers + 4 Heights," enhancing development capabilities and opportunities for businesses and talent [5][7] - The "6 Innovation Valleys" include Digital Intelligence Valley, Energy Carbon Valley, Bay Area Chip Valley, Life Green Valley, Quantum Science Valley, and New Material Innovation Valley [5][7] - The "4 Centers" consist of Industrial Finance Center, Bay Area Trade Center, Professional Service Center, and Circular Economy Center [5][7] - The "4 Heights" are Urban Service Height, Digital Creative Height, Modern Fashion Height, and Cultural Tourism Consumption Height [5][7] Group 2: New Engines of Growth - The three new engines of growth being developed are the He Tao Shenzhen-Hong Kong Technology Innovation Cooperation Zone, Xiangmi Lake New Financial Center, and the Central Park Vitality Circle [7] - The He Tao Shenzhen-Hong Kong Technology Innovation Cooperation Zone aims to become a world-class research hub, facilitating efficient flow of innovative resources and rapid emergence of innovative results [7] - The Xiangmi Lake New Financial Center is set to become a high-level financial hub, attracting licensed financial institutions and international venture capital [7] - The Central Park Vitality Circle will create a world-class urban landmark, connecting high-end buildings, trendy businesses, and art venues [7] Group 3: Sixfold Blessing Initiative - The "Sixfold Blessing" initiative includes various policies and support measures aimed at fostering business growth and talent retention [9][11] - The first blessing, "Policy Dividend," offers inclusive policies across eight sectors, with support up to 50 million yuan [11] - The second blessing, "Financial Support," provides over 80 billion yuan in credit funds and industry funds to support strategic emerging industries [12] - The third blessing, "Space for Growth," includes 240,000 square meters of quality incubation and industrial space for businesses [12] - The fourth blessing, "Talent Care," allows companies to independently recognize 400 talents in key sectors [14] - The fifth blessing, "Housing Security," offers 1,000 units of affordable rental housing for talents from high-quality development companies [14] - The sixth blessing, "Service Continuity," involves 100 high-value service activities to foster a sense of belonging among workers [14][16]

Core Insights - The number of listed companies in Huzhou has increased to 64, placing it among the top 30 cities in China for A-share listings, with 7 companies making it to the "Top 500 Private Enterprises in China" [1][3] Group 1: Economic Growth and Development - Huzhou's private economy contributes over 70% of the city's GDP, 80% of tax revenue, and 90% of employment [4] - The number of market entities in Huzhou has grown from 460,000 to 570,000 since 2022, with a net increase of 110,000 [3][4] - Investment in technological transformation has increased from 15% to 36.3% [3] Group 2: Entrepreneurial Success Stories - Huanghu Machine Tool, founded by Huang Wenbo, transitioned from selling 2 machines in five years to producing hundreds annually, with a projected annual output value of 1.2 billion yuan after the completion of a new project [1] - Jiu Li Group's acquisition of the century-old EBK company has turned around a previously loss-making business, showcasing a model of "second entrepreneurship" [3][4] Group 3: Government and Business Collaboration - Huzhou has established a "亲清直通车·政企恳谈会" (Government-Enterprise Communication Meeting) that has held 150 sessions, with a satisfaction rate of 99.70% for feedback on issues raised [3][4] - Various activities during the Private Entrepreneurs Festival aim to foster a supportive environment for businesses, emphasizing respect and care for entrepreneurs [4]