星展银行的数据显示，长寿经济主题的投资表现强劲。自2019年底以来，该行追踪的"长寿增长主题"相 关指数表现优于全球股票指数约135个百分点。此外，相关主题公司的混合股本回报率（ROE）为 28.7%，显著高于大盘的14.5%。 （文章来源：新华财经） 针对长寿经济的投资布局，星展银行首席投资官（CIO）团队提出了"哑铃型"策略（Barbell Strategy）：一端是近期具有确定增长和收益的成熟疗法及医疗服务，另一端则是具有变革性上行空间 的尖端创新技术。 在"哑铃"稳健的一端，报告重点看好GLP-1药物（胰高血糖素样肽-1）和养老护理（Eldercare）行业。 报告指出，GLP-1药物最初用于治疗2型糖尿病，现已迅速成为对抗肥胖的"重磅"疗法，并展现出治疗 阿尔茨海默病等神经退行性疾病的潜力。此外，随着全球65岁以上人口比例的增加，针对老年人的住 房、服务和支持需求急剧上升，尤其是在美国，养老设施的入住率正在回升，但供应增长滞后，供需缺 口明显。 在"哑铃"进取的一端，报告关注基因疗法（Gene Therapy）和人体冷冻技术（Cryogenics）等前沿领 域。 新华财经新加坡12月23日电（记者刘 ...

以下文章来源于21世纪资管研究院 ，作者21世纪资管研究院 21世纪资管研究院 . 21世纪资管研究院是南方财经全媒体集团旗下致力于资管领域政策和业务研究的独立智库，研究院宗 旨：探索全球资管发展新趋势，求解国内资管发展新问题，搭建资管人才成长大平台，促进资管行业健 康长远发展。 2025年，全球宏观经济在持续的关税不确定下和新技术突破不断涌现的背景下，表现出超 出预期的韧性。 从全球资产来看，贵金属的表现尤其亮眼。其中，COMEX黄金年内涨幅达60.84%，上海期 货交易所白银年内涨幅为112.87%；权益市场同样表现强劲。Wind数据显示，MSCI全球指 数年初至今上涨20.70%。 整体来看，亚太新兴市场整体表现优于欧美。 在国内，深证成指年初以来涨幅为28.02%， 沪深300涨幅为17.20%；韩国综合指数上涨71.12%；MSCI越南指数上涨61.08%；日本日经 225指数上涨26.37%。 而欧美主要股指中，纳斯达克指数上涨21.33%，标普500指数上涨16.95%；德国DAX上涨 21.97%；英国富时100上涨20.71%。 21世纪经济报道记者注意到，多家外资机构在对2026年全球市场 ...

21世纪经济报道记者 吴霜 2025年，全球宏观经济在持续的关税不确定下和新技术突破不断涌现的背景下，表现出超出预期的韧性。 从全球资产来看，贵金属的表现尤其亮眼。其中，COMEX黄金年内涨幅达60.84%，上海期货交易所白银年内涨幅为112.87%；权益市场同样 表现强劲。Wind数据显示，MSCI全球指数年初至今上涨20.70%。 整体来看，亚太新兴市场整体表现优于欧美。在国内，深证成指年初以来涨幅为28.02%，沪深300涨幅为17.20%；韩国综合指数上涨71.12%； MSCI越南指数上涨61.08%；日本日经225指数上涨26.37%。 而欧美主要股指中，纳斯达克指数上涨21.33%，标普500指数上涨16.95%；德国DAX上涨21.97%；英国富时100上涨20.71%。 21世纪经济报道记者注意到，多家外资机构在对2026年全球市场的展望中表示，尽管存在不确定性，明年权益市场依旧会延续增长态势。同 时，资管机构依旧保持了对AI相关投资的极大兴趣。 此外，多数机构也注意到，传统资产的相关性正在加强，因此传统上的股债分散配置受到挑战，多资产投资，尤其是黄金投资的需求还在增长 区间。 降低美股仓位 ...

Core Viewpoint - UBS Wealth Management anticipates strong growth in AI capital expenditure in 2026, with AI expected to continue leading global market gains. The Chinese market presents structural opportunities, particularly in the technology sector [1][2]. Group 1: Global Economic Outlook - In 2025, global capital markets performed well, with the Chinese stock market rising over 30% and the U.S. market rebounding more than 50% from April lows. Gold prices increased over 60%, marking the second-best annual performance since 1979 [2]. - UBS predicts that global AI capital expenditure will reach $500 billion in 2026, following a $350 billion expenditure in 2025. By 2030, AI revenue is expected to reach $3.1 trillion, with a compound annual growth rate of 30% [3]. Group 2: Investment Strategies - UBS recommends a diversified investment strategy, maintaining adequate liquidity and constructing cross-asset, cross-regional portfolios. This approach aims to provide better protection during market pullbacks [6]. - Alternative assets, such as gold, are suggested for risk hedging, with expectations that gold prices may reach $4,500 per ounce by mid-2026. The demand for gold remains structurally strong among central banks [6][7]. Group 3: Key Investment Themes - The first investment theme is AI itself, which, despite current returns being lower, is expected to generate significant revenue and transform global productivity [5]. - The second theme focuses on electricity and resources, as AI's rapid development will increase global electricity demand, driving up prices for related commodities like copper and promoting green energy sources [5]. - The third theme is the longevity economy, where the intersection of AI and health presents vast market opportunities, with potential revenue growth in pharmaceuticals, active nutrition, and precision diagnostics [5].

经济观察报 记者 老盈盈 12月10日，瑞银财富管理大中华区投资总监及亚太区宏观经济主管胡一帆在2026年全球及中国市场展望 与投资策略分享会上表示，中国经济转型继续推进，2025年前三季度经济表现好于预期，四季度增速有 所放缓，全年增速预计落在4.9%至5%区间，完成年初政府目标。 （原标题：瑞银胡一帆：预计2025年中国经济增速在4.9%至5%区间） 对于资本市场，胡一帆强调，2026年作为"十五五"规划开局之年，政策将保持相对宽松，叠加科技行业 的发展，资本市场短期和中期均有望维持稳健态势。2026年亦将持续受益于盈利增长与流动性支持，科 技股表现值得期待。2025年在2024年上涨20%的基础上再涨30%，当前估值较美股仍有30%折让，且远 低于2021年峰值，市场具备继续上行空间。 货币政策方面，胡一帆预计，2025年将实施50至100个基点的降准，以及20至30个基点的降息。另外， 美元对人民币将呈现稳中有升态势，2025年底汇率预计在7左右，2026年上半年维持该水平，下半年有 望回落至6.9左右，这一判断基于美元可能降息并整体走弱的预期。 对于人工智能领域的发展，胡一帆表示，2025年全球AI ...

12月10日，瑞银财富管理投资总监办公室(CIO)发布《2026年度展望》报告指出，在利好的宏观经济环 境、稳定的企业盈利前景以及政策面支持下，全球股票市场在未来一年仍具吸引力，预计至2026年底有 望录得约15%的整体上行空间。 瑞银表示，美国经济韧性依旧，在稳健的消费、企业资本开支以及较为宽松的财政与货币环境带动下， 科技、公用事业、医疗保健及银行等关键板块将持续受益。与此同时，欧洲、日本和中国的股市也有望 在经济温和回暖及盈利改善带动下迎来上涨。 瑞银亦特别点出中国科技板块为"全球最具吸引力的投资机遇之一"。报告称，中国市场流动性充裕、散 户资金活跃，加上企业盈利在2026年有望增长高达37%，将推动中国股市延续强势表现。对于寻求地域 与主题多元化的投资者，瑞银建议关注亚洲股市及更广泛的新兴市场，以把握结构性成长机遇。 总体而言，瑞银认为，尽管全球市场仍面临地缘政治、利率路径及科技泡沫风险等不确定性，但经济基 本面健康、盈利具支撑、政策环境友好，全球股市在2026年仍具备稳健上涨基础。 报告特别强调，人工智能(AI)和科技依然是全球股市的核心推动力。随着企业在AI基础设施、芯片、算 力、自动化及相关软件 ...

瑞银还特别强调，中国科技板块是全球最重要的机遇之一。充裕的流动性、散户资金流入、2026年企业 盈利增长或高达37%，将支撑中国股票动能。寻求多元化的投资者，亦可通过部署亚洲股市(尤其是印 度和新加坡)或新兴市场，来把握此成长题材。 人民财讯12月10日电，2025年12月10日，瑞银财富管理投资总监办公室(CIO)在《2026年度展望》报告 中提到，有利的经济环境将为股票带来支撑，预计到2026年底全球股票有15%左右的上行空间。美国稳 健的经济增长和宽松的财政及货币政策利好科技、公用事业、医疗保健和银行板块。美国、中国、日本 和欧洲股市有望上涨。 其中，AI与科技仍将是全球股票上涨的重要驱动因素。强劲的资本支出和快速采用将在2026年进一步 提供助力，但投资者也应留意泡沫风险。在多元化股票投资组合中，建议将至多30%的仓位配置于AI、 长寿经济以及电力和资源等结构性趋势。 ...

Core Viewpoint - The "Longevity Code: Bama Delicacies" event aims to promote the unique agricultural products of Bama Yao Autonomous County in the Guangdong-Hong Kong-Macao Greater Bay Area, achieving over 40 million yuan in procurement and tourism cooperation intentions [8][36]. Group 1: Event Overview - The event took place on November 21, 2023, in Guangzhou, focusing on the integration of agricultural products and cultural tourism from Bama [2][3]. - Over a hundred representatives from government departments, experts, and businesses attended the event, facilitating precise connections between supply and demand [3][4]. Group 2: Economic Impact - The event resulted in procurement and cooperation intentions exceeding 40 million yuan, promoting Bama's unique industries into the Greater Bay Area market [8][36]. - Bama's Deputy County Head emphasized the importance of this platform for introducing high-quality products to a broader market and attracting investment [12][14]. Group 3: Product Promotion - The event showcased a variety of products, including health foods, cultural tourism services, and wellness experiences, highlighting Bama's ecological and health-oriented industry characteristics [22][29]. - Specific products promoted included ecological honey, selenium-rich foods, and wellness tourism packages, appealing to the health-conscious consumers in the Greater Bay Area [22][29]. Group 4: Partnership Outcomes - Nine groups of enterprises reached cooperation agreements during the event, covering areas such as agricultural product procurement and e-commerce [33]. - Notable agreements included a procurement contract worth over 16 million yuan between Guangdong Southern Rural Investment Development Co., Ltd. and Bama Lilang Mineral Water Co., Ltd. [34].

Core Insights - MitoQ has officially released mid-term data results from its clinical trial of MitoQ® Mitoquinol for Chinese consumers at the China International Import Expo, marking a significant milestone in its market entry in China [1][4] Clinical Trial Results - The clinical trial, conducted in collaboration with Zhejiang University, involved 140 participants over a 3-month period using a randomized controlled design [3] - Key findings include: - Improvement in alanine aminotransferase (ALT) levels, with reductions 1.5 times greater than the control group [3] - 65% of users reported significant energy improvement, with effects 1.5 times that of the control group [3] - 61% of users experienced reduced perceived stress, with results 1.8 times better than the control group [3] - 71% of users reported enhanced overall quality of life, with improvements in sleep, mood, or social interactions 2.3 times that of the control group [3] - Safety and tolerability were confirmed, with 85.7% of participants completing follow-up without adverse reactions [3] Strategic Collaborations - MitoQ signed a strategic cooperation agreement with Zhejiang University in 2023 to enhance cell health research [3] - The release of mid-term results is seen as a product of deepening collaboration with Chinese research institutions, providing authoritative data for global anti-aging technology [4][6] Market Positioning and Future Plans - MitoQ has been focusing on mitochondrial health for over 30 years and aims to strengthen its presence in the Chinese market [8] - The company has launched several initiatives in 2023, including a white paper on cellular anti-aging and new product releases to expand its product matrix [8] - MitoQ plans to continue driving innovation and research collaboration to support a "longevity economy" in China, addressing public health needs related to aging [12]

Core Viewpoint - The article emphasizes the unique advantages and investment opportunities in the Chinese capital market amidst global economic and financial market volatility, highlighting the long-term strategic confidence from major asset management firms like Amundi [1]. Group 1: Investment Opportunities in China - Amundi identifies three key dimensions for investment opportunities in China: ongoing institutional openness, the role of Hong Kong as a bridge, and the potential of the pension market [1]. - The focus on technology sectors such as electric vehicles and artificial intelligence is seen as particularly attractive for investment due to their growth prospects and valuation [4][5]. Group 2: Asset Allocation Strategies - The article discusses the need for diversified asset allocation in the current high volatility environment, suggesting that investors should consider a mix of bonds, foreign exchange, and equities based on market attractiveness [3][5]. - A structural approach to asset allocation is recommended, with a focus on mid-term holding periods of three months or longer, allowing for flexibility in timing and entry points [5]. Group 3: Global Economic Context - The article notes the impact of global supply chain restructuring and changing tariff policies, which create investment opportunities in emerging markets, particularly in Asia [9]. - The anticipated interest rate cuts by the Federal Reserve are discussed, with predictions of two cuts next year, which could influence global asset allocation strategies [7]. Group 4: Gold as an Investment - Gold is highlighted as a key asset class due to its ability to hedge against inflation and geopolitical risks, with expectations of its price reaching $5,000 per ounce within three years [11]. - The increasing demand for gold from central banks and retail investors is noted as a significant factor influencing its market dynamics [11]. Group 5: Long-term Economic Themes - The article emphasizes the importance of high-quality development, climate change, and technological innovation as critical investment themes for the future [6]. - The concept of a "longevity economy" is introduced as a theme with substantial investment opportunities, extending beyond pharmaceuticals to infrastructure [12].