资金是很聪明的，早就对南下资金的行为进行了学习——近期 ， 建行的港股 ，是南下资金加仓的第二大个股（仅次于跌跌不休的美团）。 今天港股休市，A股则迎来下半年的开门红，上涨的股票和ETF，都是50%左右，算是比较平稳。 比较有意思的是， 银行股大涨1.5% ，迎来反弹，我们从上周五的《 今天银行股为何大跌？ 》，到昨晚，都做了判断，认为银行股季末的领跌，主 要 是， 特定机构在季末，有调表、兑现利润的需求，赶上几个合适的时机，正好抓紧卖了，属于非常态，因此可以看看季初是否会有反复。 结果，果然如此。 为了进一步论证这个结论，再帮大家补充两点。 第一，今天港股休市，但 港股 相关的ETF还是可以继续买卖的，而港股的银行LOF，今天开盘不到10分钟，就上涨超1%，也就是，资金认为明天开盘 后，港股银行股会上涨，而我们此前说过，这轮银行股的行情，本质是资金驱动的，而最大的资金，当然就是南下不断加仓的险资，因此，A股的银行 股，事实上是基于相对稳定的AH溢价，跟随港股的走势上行。 第二，为了论证第一点，可以看到，今天四大行里，只有 建行 ，创下了历史新高，大涨近3%，而垫底的中行，涨幅仅0.5%左右，我把四大行的A股 ...

Core Viewpoint - The National Healthcare Security Administration and the National Health Commission have released measures to support the high-quality development of innovative drugs, focusing on integrating innovative drugs into basic medical insurance and commercial health insurance [1][2]. Group 1: Support for Innovative Drugs - The introduction of a commercial health insurance innovative drug directory is a significant step towards establishing a multi-tiered medication security system, which aims to better meet the diverse medication needs of the public [1]. - The commercial health insurance innovative drug directory will clarify the boundaries of basic medical insurance coverage and provide more development space for commercial health insurance [1][2]. - The measures encourage the development of innovative drugs as a means to enhance clinical medication technology levels and support the self-reliance and technological innovation of China's biopharmaceutical industry [2][3]. Group 2: Trends in Innovative Drug Approvals - From 2018 to 2024, the number of approved Class 1 innovative drugs in China has shown a significant upward trend, with 48 approvals expected in 2024, over five times the number in 2018 [3]. - The increase in innovative drugs entering the medical insurance directory has led to a substantial improvement in the public's medication security level [3]. Group 3: Global Market Development - The measures propose to promote the global market development of innovative drugs, with plans to build platforms to assist in expanding overseas markets [3][4]. - The National Healthcare Security Administration is supporting regions to leverage their advantages in establishing innovative drug trading platforms and enhancing international promotion [3][4]. - The measures also include providing price support for innovative drugs going abroad, exploring stricter price confidentiality mechanisms for drugs in the commercial health insurance innovative drug directory [4].

Group 1 - The core viewpoint of the articles is that the inclusion of insurance companies in gold trading through the Shanghai Gold Exchange marks a significant shift in investment strategies, allowing for diversification and potential higher returns amidst a declining interest rate environment [2][3]. - The pilot program initiated by the financial regulatory authority allows ten insurance companies to invest in various gold-related products, which is expected to enhance their asset-liability management and overall investment capabilities [2][3]. - The entry of insurance capital into the gold market is anticipated to inject long-term funds, thereby increasing market depth and promoting the healthy development of the gold market, while also enhancing the pricing power of the RMB in gold transactions [3]. Group 2 - Insurance companies are expected to benefit from gold investments as a hedge against inflation and economic volatility, providing a low correlation with traditional asset classes, which can improve portfolio stability and risk management [3]. - Experts emphasize the importance of establishing robust risk management frameworks for insurance institutions, including the use of risk assessment models to monitor market and operational risks associated with gold investments [4]. - A comprehensive approach involving fundamental, technical, sentiment, and quantitative analyses is recommended to understand the factors influencing gold prices, which will aid in making informed investment decisions [4].

Group 1 - The National Financial Regulatory Administration has approved the establishment of Hualian Insurance Asset Management Co., Ltd. by Aegon Global Life Insurance Group, requiring the completion of the setup within six months and under the supervision of the Shanghai Financial Regulatory Bureau [1] - Aegon Global Life Insurance Group's CEO Marco KEIM highlighted the three stages of the insurance industry: protection, wealth accumulation, and consumption, noting that there is still room for improvement in the awareness of the "protection" stage in the Chinese insurance market [1] - Aegon Global Life Insurance Group is exploring the possibility of joint ventures with Chinese counterparts in the pension insurance sector, leveraging its extensive experience to participate in the development of China's emerging market [2] Group 2 - Aegon Global Life Insurance Group reported total revenue of €13.31 billion for 2024, with premium income of €10.17 billion and a net profit of €676 million, marking a significant year-on-year increase of 439.7% [2] - The asset management arm, Hualian Asset Management, is the largest asset management company in the Netherlands, with an asset management scale reaching $351 billion as of March 31, 2025 [2]

Core Insights - The National Healthcare Security Administration (NHSA) introduced measures to support the high-quality development of innovative drugs, encouraging commercial health insurance to expand investment in innovative drugs and create a directory for innovative drugs [1][2] Group 1: Policy Impact - The new policies provide clear direction for the development of commercial health insurance, which is crucial for establishing a multi-tiered medical payment system in China [1] - The introduction of a commercial health insurance directory for innovative drugs aims to include drugs with high innovation, significant clinical value, and benefits that exceed basic medical insurance coverage [2] Group 2: Market Dynamics - The innovative drug payment market is on the verge of explosive growth, with expectations of a layered payment ecosystem emerging over the next five years [1][2] - Companies like Mingxin Health are positioning themselves to address payment challenges in the industry, having become the largest multi-payment platform in China since its establishment in 2017 [3] Group 3: Financial Performance - Mingxin Health reported significant revenue growth, with revenues of 1.069 billion, 1.255 billion, and 2.035 billion yuan from 2022 to 2024, reflecting a compound annual growth rate of approximately 38% [3] Group 4: Future Business Models - Potential business models include creating data bridges between medical services, insurance, and commercial health insurance, as well as designing performance-based agreements and customized insurance products [4] - Companies aim to resolve structural conflicts between payment and supply sides to achieve a sustainable ecosystem where patients have access to affordable medical products [4]

Core Viewpoint - The management transition at Xinmei Mutual Life Insurance marks a significant change as the company faces challenges such as slowing premium growth and investment return pressures, reflecting the sustainability of the mutual insurance model in China [2][6][7]. Management Changes - Yang Fan resigned from all major positions at Xinmei Mutual Life Insurance, with Hu Han elected as the new chairman and CEO, indicating a shift in leadership at a critical juncture for the company [2][5]. - Hu Han has extensive experience in financial management and capital operations, having co-founded the company with Yang Fan in 2015 [4]. Company Performance - Xinmei Mutual Life Insurance has seen membership grow from 0 to 104,000 and total assets increase to 54.846 billion yuan, achieving profitability for five consecutive years since 2020 [5]. - Despite a projected 23% decline in insurance revenue to 6.983 billion yuan in 2024, the company managed a 16% increase in net profit to 66.72 million yuan, demonstrating effective cost control [5][6]. - The company reported a net investment return rate of 3.72% and a total investment return rate of 4.41% in 2024, although the first quarter of 2025 saw a negative return of -0.09% [6]. Strategic Adjustments - The company is proactively adjusting its business structure to ensure long-term stability, which includes controlling the scale and growth of new business [5]. - Xinmei Mutual Life Insurance is pursuing a light-asset model in the aging care industry, focusing on partnerships with third-party service providers to minimize capital investment [8][10]. New Partnerships - In February, Xinmei Mutual Life Insurance raised 325 million yuan by bringing in Inner Mongolia Shilin Investment Group as a significant operational fund provider, enhancing its capital base [9][10]. - The partnership with Shilin Group is expected to support the THH aging care strategy, providing resources to address challenges in third-party service collaboration [11].

Group 1 - The insurance industry is actively responding to severe flooding in Guizhou Province, ensuring the safety of people's lives and property [1][2] - China Life Insurance has initiated an emergency response plan, forming a claims service team to assist clients affected by the disaster [1][3] - Eight claims service measures have been introduced by China Life, including multi-channel reporting options and simplified claims documentation for affected clients [1] Group 2 - Sunshine Property & Casualty Insurance has mobilized a disaster claims team equipped with supplies to assist affected areas [2] - The claims team is divided into three groups to efficiently assess damages and process claims, ensuring a streamlined claims process [2] - The company is utilizing technology for rapid damage assessment and aims to settle claims on-site for clearly defined losses [2]

7月1日，国家医保局、国家卫生健康委印发《支持创新药高质量发展的若干措施》（以下简称《措施》）。《措施》紧密围绕我国创新药当前面临的研发难 度大、进入医保难、医院使用受限以及支付压力大等突出问题，打通"实验室"到"病床边"全链条，提出涵盖5个方面共16条具体举措。 最具突破性的是首次提出设立"商业健康保险创新药品目录"。国家医保局医药管理司司长黄心宇在同日举行的新闻发布会上强调，国家医保局计划实现商保 创新药目录与医保目录同时申报、同步调整，程序基本一致，企业可以自主申报纳入医保药品目录、商保创新药目录或同时申报两者。 | 名称: | 国家医保局 国家卫生健康委关于印发《支持创新药高质量发展的若干措施》的通知 | | | | --- | --- | --- | --- | | 索引号: | 2025-02-00016 | 发文字号: | 医保发〔2025〕16号 | | 发布日期: | 2025-07-01 | 发布机构: | | 政策指导与统筹研发也成为研发支持的关键抓手。《措施》提出，优化医保部门企业接待机制，畅通医保部门与创新药企业沟通交流渠道，有针对性加强创 新药在药品目录准入方面的政策指导。同时，将 ...

就在同一天，新华保险也正式宣布成为"苏超"南通赛区的官方合作商。新华保险方面表示，将全方位为 赛事赋能，从资源支持到服务保障，助力江苏体育事业蓬勃发展。新华保险将通过赛事影响力推动全民 健身理念普及，实现金融服务与体育精神的双向赋能，为探索保险行业助力全民健身事业发展开辟新路 径。 在金融领域，保险机构争先涌入，想要从这片新兴体育产业蓝海中分得一杯羹。《金融时报》记者注意 到，继江苏本地的紫金保险成为"苏超"官方供应商后，中国平安、新华保险（601336）于近日相继宣布 成为"苏超"南通赛区的官方合作商。此外，包括人保财险、中国人寿（601628）财险纷纷入局，从不同 角度为"苏超"提供保险保障。 保险企业逐浪"苏超"新蓝海 作为江苏省级足球"顶流赛事"，"苏超"集结全省13个地级市战队，516名参赛者涵盖职业球员、学生及 业余足球爱好者，直接点燃全民足球热情。在这场热潮中，保险机构化身为"全能守护者"。 6月19日，中国平安宣布正式成为"苏超"南通赛区的官方合作商，将为南通队全体球员提供"黄金腿"保 险保障，同时为该赛区球迷提供观赛意外险。据介绍，"黄金腿"保险是中国平安此前专为中国国家足球 队创新推出的" ...

Group 1 - The core viewpoint emphasizes the integration of high-quality party building with innovation development as a strategic choice for sustainable enterprise growth [1] - The company implements a "two quantification, two special personnel" mechanism to enhance grassroots party organization functions and ensure effective policy implementation [2] - The company focuses on the integration of party building and business operations, leveraging political guidance to support the construction of Beijing's "Four Centers" [3] Group 2 - The company prioritizes serving the people's welfare by ensuring that its insurance products and services address the urgent needs of the public [4] - The company has achieved significant growth in insurance coverage, with over 105 million people covered by new citizen exclusive products and risk protection exceeding 2.35 trillion yuan [5] - The company actively promotes disaster prevention and reduction through innovative insurance models and partnerships with local governments [6] Group 3 - The company is committed to enhancing the quality and effectiveness of party building to support the modernization of Beijing [7]