Core Viewpoint - The upcoming 2025 National Negotiation (国谈) is causing anxiety among pharmaceutical companies, as the latest signals regarding the Class B drug directory indicate that it may still proceed in sync with the negotiations, with the National Healthcare Security Administration (国家医保局) holding a meeting to discuss the adjustment plan for the drug directories [1][2][3]. Group 1: Changes in Drug Directory - The Class B drug directory will be renamed to the "Commercial Health Insurance Innovative Drug Directory" [2]. - The first version of the directory is expected to be developed in conjunction with the 2025 National Negotiation [2]. - The recent meeting did not invite representatives from the commercial insurance sector, suggesting that these companies may no longer directly participate in the directory formulation [2][7]. Group 2: Implications for Price Negotiation - Analysts indicate that the most significant change in the new directory is the withdrawal of commercial insurance companies from the directory formulation, which may lead to the cancellation of price negotiations [7][9]. - The National Healthcare Security Administration is expected to take the lead in formulating the innovative drug directory, which will have a nature closer to a recommendation list, significantly reducing the constraints on commercial insurance companies [8][10]. - The absence of commercial insurance in the directory formulation raises concerns about the feasibility of price negotiations, as pricing is typically determined collaboratively by payers and pharmaceutical companies [9]. Group 3: Selection Criteria and Market Impact - The selection criteria for the new directory are expected to remain largely unchanged, focusing on filling gaps and enhancing standards, primarily including innovative drugs that cannot be included in the basic medical insurance directory due to their high clinical value [13][14]. - The demand for price reductions in the new innovative drug directory may decrease or even disappear, potentially increasing the chances for high-priced innovative drugs to be included [16][17]. - The mechanism for transitioning drugs from the basic medical insurance directory to the innovative drug directory is anticipated to be established, allowing for a more seamless integration of the two directories [18][19][20].

"创新"背后的支付解法 华夏时报（www.chinatimes.net.cn）记者 杨燕 北京报道 创新药"盼"商保久矣。 相比普通的药品，创新药往往投入高，研发时间长，这在一定程度上也决定了它相对高昂的定价，例如百万元一 针的天价抗癌药CAR-T等等。但国谈一直以来有着"30万不进，50万不谈"的隐形门槛，因此尽管近几年来国家乙 类医保目录纳入新药的速度不断加快，仍有不少创新药被其"拒之门外"。 为了解决创新药的支付难题，自2024年底医保局首谈丙类医保目录以来，行业对于丙类医保目录的出炉可谓翘首 以盼，不过原本定于4月面世的企业申报工作却被传推迟，至今仍未有新进展曝光。 6月9日，中共中央办公厅、国务院办公厅印发《关于进一步保障和改善民生 着力解决群众急难愁盼的意见》（下 称《意见》），《意见》中提到，完善基本医疗保险药品目录调整机制，制定出台商业健康保险创新药品目录， 更好满足人民群众多层次用药保障需求。 这一次，靴子是真的要落地了吗？ 早在2025年1月初，丙类目录即将出炉的消息就曾流传出多个版本，直到1月17日上午，医保局医药管理司司长黄 心宇在新闻发布会上明确提到，在药品范围上，丙类目录作为基本医 ...

Core Viewpoint - The introduction of a commercial beef income insurance product by China Life Property & Casualty Insurance Qingdao Branch addresses the risks associated with the high-end beef cattle industry, supporting the development of specialty agricultural products insurance as outlined in the 2025 Central Document No. 1 [1][2]. Group 1: Insurance Product Development - China Life Property & Casualty Insurance Qingdao Branch has launched a market-oriented beef income insurance product that transitions from cost coverage to ensuring price stability and income security [1]. - The insurance product features a dual protection scheme that covers both mortality losses and market price fluctuations, moving away from reliance on government subsidies to a fully market-driven model [1][2]. Group 2: Industry Impact - Qingdao Longming Beef Industry, a high-end snowflake beef supplier, has developed a complete industry chain over ten years, focusing on breeding, smart farming, deep processing, and brand development [2]. - The company has established four proprietary pastures covering 15,000 acres, with an annual output value exceeding 100 million yuan, aiming to become a core supplier in the national high-end beef supply chain [2][3]. Group 3: Risk Management and Growth Potential - The cost of raising each beef cattle ranges from 50,000 to 80,000 yuan, with price volatility and mortality risks previously hindering expansion [3]. - With the new insurance coverage, the company plans to increase its cattle stock from 15,000 to 50,000 heads, projecting an annual output value of over 500 million yuan [3].

为破解海洋牧场风险高、监测难等问题，中国人寿财险着力建设海洋风险管理综合服务平台。该平台联 合国家海洋重点实验室等科研院所，充分整合遥感、气象、海洋环境等20项数据资源，实现了对海水养 殖风险全周期、多维度监测。与此同时，根据海洋牧场经营者的需求设定风险预警阈值，为其智能推送 预警信息，及时开展防灾减灾服务。 "过去，经营者凭经验、靠感觉，现在，平台可以为他们提供精准到特定海域的风险预警和防灾建 议。"中国人寿财险相关负责人表示。 值得注意的是，该平台上的渔业产业、海温、波高、水质等数据还为气象指数、海洋指数保险产品的研 发提供了有力支撑。 按照传统海水养殖保险的经验定损，在茫茫的大海上，几乎是不可能完成的任务，定损难、风险高，直 接导致理赔慢。中国人寿财险加快转变产品研发思路，在数据的支撑下，着力研究气象变化与海洋生态 对养殖水产的影响机理，重点在指数保险创新上下功夫，研发海参高温指数、牡蛎波高指数、金鲳鱼风 力指数、海草床与贝类碳汇指数、浪高指数和风力指数等保险产品。 相较于传统保险，指数保险颠覆了以实际损失进行赔付的理念，它以某个易于观测、与海水养殖密切相 关且难以人为干预的指数作为触发赔付的标准。以海 ...

Group 1 - The core viewpoint of the articles highlights the significant recovery and growth of the innovative drug sector in Hong Kong, with the innovative drug ETF rising by 1.86% and a year-to-date increase of nearly 60%, leading the pharmaceutical ETF market [1] - The innovative drug sector is experiencing a resurgence after four years of stagnation, with commercial insurance playing a crucial role in determining whether innovative drugs can truly benefit patients [1][5] - The performance of innovative drug-themed public funds is strong, with 8 out of the top 10 actively managed equity funds being heavily invested in innovative drugs, all showing gains exceeding 68% [1] Group 2 - The three main catalysts for the current innovative drug market rally include significant improvements in R&D capabilities, expansive overseas market opportunities, and favorable market liquidity conditions [2] - The Chinese innovative drug sector is transitioning from a follower to a leader in global R&D, as evidenced by increased approvals and successful business development transactions with major overseas pharmaceutical companies [2][3] - The industry is witnessing a substantial increase in revenue, with A-share innovative drug companies achieving a revenue of 12.19 billion yuan in Q1 2025, a year-on-year growth of 23% [3] Group 3 - There have been 24 overseas transactions in innovative drugs within the first five months of 2025, totaling over 15.5 billion USD, indicating a strong trend towards international expansion [4] - The Hong Kong innovative drug ETF has reached a scale of 10.406 billion yuan, with a growth of approximately 5.4 billion yuan in the past year, leading the pharmaceutical ETF market [4] - The innovative drug sector faces inherent high risks, with only 10% of R&D projects typically succeeding, requiring significant upfront investment and a long development cycle [4] Group 4 - The reform of the payment system is crucial for the sustainable high-quality development of the innovative drug industry, with commercial health insurance expected to accelerate the development and accessibility of innovative drugs [5][6] - Recent government policies aim to enhance the commercial health insurance framework, including the establishment of a dynamic and standardized innovative drug directory to meet diverse healthcare needs [6] - The insurance sector is increasingly aligning with the innovative drug industry, with initiatives to develop targeted insurance products that address the risks associated with R&D in biopharmaceuticals [7]

2025年6月6日，第二届"保险家论道"研讨会暨中国保险竞争力排行榜发布会在北京成功举 办。本次研讨会由清华大学五道口金融学院《清华金融评论》编辑部主办，会议主题 为："保险服务中国式现代化"。会议上，多位来自国内保险领域的顶尖学者和资深从业 者，围绕保险行业如何做好五篇大文章，推动经济高质量发展等话题进行交流探讨。现场 座无虚席，受到社会各界人士的广泛关注。 北京保险行业协会会长陈志强以《"创新驱 动，服务首都"——共绘保险业高质量发展新蓝图》为题做主题演讲。 陈志强 提出，面对中国式现代化进程中的新机遇与新使命，北京保险业要在"创新驱动、服 务首都"的实践中走在前列、作出示范。他表示，北京保险业将持续夯实风险治理体系，强 化"自律+监管+科技"三位一体机制，提升行业韧性与风险防控能力；深化产品与制度创新， 探索绿色保险、科技保险、长期护理保险等新兴领域，推动"商保+社保"融合；服务国家重大 战略与首都民生保障，不断拓展在城市治理、防灾减灾、普惠保障等方面的应用场景；并加 快金融科技转型，赋能保险服务提质增效。此外，北京还将积极推动区域协同与政策创新， 建设"保险+社会治理"新模式，努力打造具有首都特色的高 ...

Core Viewpoint - The issuance of the first batch of insurance policies and bank credit for the Xiniu bamboo shoot industry in Qingyuan marks a significant step in supporting the high-quality development of this agricultural sector, with a total of 25 million yuan in risk protection and 5 million yuan in credit provided [1][22][24]. Group 1: Insurance and Financial Support - The Qingyuan People's Insurance Company issued the first batch of comprehensive income insurance policies for the Xiniu bamboo shoot industry, providing strong price protection [12][20]. - The insurance product covers both production risks and market price risks, including natural disasters, accidents, pests, and wildlife damage [14][15]. - The financial model for the insurance includes a 60% subsidy from the government and a 40% self-paid premium by farmers, encouraging participation in the insurance scheme [17][18]. Group 2: Industry Significance - The Xiniu bamboo shoot is one of Qingyuan's five major billion-yuan modern agricultural industries and plays a key role in promoting rural revitalization in Yingde [8][10]. - As of December 2024, the planting area for Xiniu bamboo shoots reached 859,100 acres, with over 88,000 workers and a production volume of 1.414 million tons, generating a comprehensive industry value of 10.965 billion yuan [9][10]. - The introduction of this insurance product is seen as a significant advancement from a single protection model to a comprehensive protection approach in agricultural insurance [20]. Group 3: Collaborative Efforts - The collaboration among government, market, and social participation has created a favorable environment for the bamboo shoot industry, enhancing income stability for farmers and their ability to withstand dual risks from natural disasters and market fluctuations [26][28]. - Financial institutions are providing a chain of support from production to sales, alleviating funding challenges faced by farmers and enterprises in expanding production and processing [28][30].

在这场发布会上，宁德时代一口气发布了75 #标准化换电块 、全场景底盘换电解决方案，宣布底盘式换电让电动重 卡的经济性达到了"电气同价"里程碑，甚至喊出2030年构建"八横十纵"换电网络、推动重卡电动化三年渗透率达 50%的目标，宁德时代对自身发展乃至行业蓝图的擘划都可谓是独具一格。 那么，这场发布会背后，究竟有多少现实支撑，又有多少理想化的成分？值得我们冷静拆解。 01 头部选手的解题思路 作者 | 贝隆行业研究 数据支持 | 勾股大数 据（www.gogudata.com） 在全球能源转型与"双碳"目标的大背景下，传统燃油重卡作为碳排放"大户"，面临着愈发严峻的节能减排压力，亟 待向电动化转型。然而重卡电动化之路并不平坦，重重桎梏之下，也静待一场深度变革来破局。 5月18日，宁德时代在山西大同召开了一场发布会， 这场发布会看似是技术新品推广，但实际上暗藏了对重卡产业 格局重塑的雄心 。在2天后宁德时代港股上市敲钟现场，董事长曾毓群也反复提及了这场发布会及换电业务。 重卡电动化之路，长期以来被成本、效率、兼容性这"三座大山"所压迫，行业整体发展因此而受阻。尽管众多企业 前赴后继提出一系列解决方案，试图突破瓶 ...

近年来，保险机构聚焦乡村全面振兴重点领域，完善专业化体制机制建设，创新产品服务，为推进乡村 全面振兴提供有力的金融支撑。国家金融监督管理总局办公厅近日发布《关于扎实做好2025年"三农"金 融工作的通知》，提出要加力提升涉农保险保障水平，推动涉农财产险扩面增品，改善涉农保险服务。 数据显示，今年前两个月，农业保险提供风险保障0.91万亿元，同比增长12.28%。 破解重建轻管难题 4月底，四川省仁寿县曹家镇共峨村的上百亩油菜籽迎来采收季。采收完成后，村民们将紧接着进行水 稻插秧。由于四周丘陵环绕、土地零散，过去一下大雨，这里就会被淹成烂泡田。近年来，仁寿县持续 推进高标准农田建设，着力改善农业耕作条件，实现路相通、渠相连、旱能灌、涝能排、小田变大田， 促进粮食增产、农业增效、农民增收。 高标准农田建设"三分靠建、七分靠管"。但由于建设主体多、环节复杂，高标准农田工程质量风险隐患 较大，并且建后管护工作存在人力、经验、维护预算不足等问题。中国人民财产保险股份有限公司成都 市分公司商团部副经理夏添介绍，结合高标准农田在"建""管"工作中的痛点，人保财险四川省分公司为 全省高标准农田建管保险试点项目量身打造了专属保 ...