中央经济工作会议12月10日至11日在北京举行。会议总结2025年经济工作，分析当前经济形势，部署 了"十五五"规划开局之年经济工作的重点任务。会议明确，明年经济工作要以习近平新时代中国特色社 会主义思想为指导，深入贯彻党的二十大和二十届历次全会精神，完整准确全面贯彻新发展理念，加快 构建新发展格局，着力推动高质量发展。这不仅为宏观经济发展指明了方向，也为资本市场发展指明了 前进的道路。长江期货认真学习领会中央经济工作会议精神，以服务实体经济发展为宗旨，聚焦主责主 业，做好各项工作的落实。 一、联动创新推动产业服务升级 结合内外部环境变化和中央经济工作会议要求，长江期货将持续提升交易对冲和主动风险管理能力，把 重点放在工具的场景应用和多业务联动的制度设计上，为产业企业的现货定价与服务竞争力提供助力。 我们将提前布局碳排放期货、天气衍生品等绿色期货品种，为能源新质生产力提供更多精准适配的期货 工具。随着产业客户需求的多元化，在内部管理上需要经纪业务、资管、风险子公司等多条线的联动响 应，长江期货将在内部管理上进行协同创新，进一步健全内部协同机制，提升经纪业务、场外期权业 务、期现业务团队的协同合力，共同开展面向 ...

Core Viewpoint - The successful implementation of the "ICBC Global Payment" platform by ICBC Ningbo Branch for a well-known stationery manufacturing company marks a significant advancement in cross-border fund management, providing a more efficient and convenient solution for enterprises engaged in international business [1][3]. Group 1: Service Innovation - ICBC Ningbo Branch facilitated the first domestic direct payment to an overseas account for a local listed stationery manufacturer, streamlining the process of managing funds for overseas subsidiaries [1][3]. - The traditional method of managing overseas accounts involved complex procedures and high costs, which this new service effectively addresses [1][3]. Group 2: Features of the "ICBC Global Payment" Platform - The platform allows enterprises to directly operate their overseas accounts online, overcoming traditional cross-border payment limitations in terms of time and space [3]. - It offers comprehensive financial management services, including real-time fund monitoring and unified global fund collection and payment, enhancing the visibility and control of global funds [3][4]. Group 3: Client Feedback and Future Plans - The enterprise representative praised the innovative payment solution for significantly improving remittance efficiency and reducing operational costs, highlighting the support from state-owned banks in facilitating international expansion [4]. - ICBC Ningbo Branch plans to continue leveraging its global network and digital financial advantages to enhance service offerings and optimize business processes for local enterprises engaged in cross-border operations [4].

Core Viewpoint - The financial cybersecurity range is evolving from a technical validation tool to a core infrastructure for digital financial security, enhancing the defensive capabilities of financial institutions and promoting proactive immunity against cyber threats [5]. Industry Overview - The financial cybersecurity range integrates virtualization, big data, and other technologies to provide a comprehensive security infrastructure for financial institutions, including attack-defense drills, vulnerability verification, emergency response training, and system testing [1]. - The industry value chain consists of upstream technology providers, midstream platform developers, and downstream financial institutions, forming a complete chain from equipment supply to operational services, with a gross margin of approximately 50-65% [3]. Market Trends - According to QYResearch, the global financial cybersecurity range market is projected to reach $1.37 billion by 2031, with a compound annual growth rate (CAGR) of 7.1% over the coming years [3]. - The financial cybersecurity range is becoming a critical infrastructure in the digital transformation of the financial industry, driven by the acceleration of digitalization and the evolution of cyberattack methods [5]. Industry Chain Collaboration - The industry chain covers three main segments: upstream technology support focusing on core technology development, midstream platform construction and operation, and downstream application scenarios expanding to fintech companies and third-party payment platforms [7]. - Upstream focuses on core technology research, including virtualization engines and AI attack-defense algorithms, while midstream involves specialized security vendors providing modular designs for core functional modules [7]. Policy Drivers - Global financial regulatory frameworks have set clear requirements for the construction of cybersecurity ranges, with policies accelerating their adoption among financial institutions [8]. - The Chinese "Financial Technology Development Plan (2022-2025)" emphasizes the establishment of a cybersecurity attack-defense exercise system, mandating regular drills for financial institutions [8]. Challenges and Opportunities - The financial cybersecurity range faces challenges such as reliance on imported technologies, high construction costs, and a significant talent gap in the industry [9]. - The market has high entry barriers, requiring expertise in core patents, substantial funding, and compliance with security certifications [10]. Future Directions - The financial cybersecurity range is expected to evolve into a "financial security brain," integrating various technologies and expanding its application scenarios [10]. - Companies are encouraged to pursue differentiated competition by focusing on full-scenario coverage in the financial industry and collaborating with academic institutions to overcome technological bottlenecks [10].

爱建证券将国家与行业导向内化为数字化转型核心准则，从践行"金融为民"初心、恪守"守正创新"底 线、追求"专业质量"标杆三方面发力，彰显金融机构责任担当。 中证报中证网讯（王珞）近期，爱建证券"爱建先禾APP"凭借卓越的产品稳定性与用户体验，获Gtest 2025全球软件测试技术峰会"优秀软件产品质量"大奖；"大模型赋能财务数字化的应用实践"项目以技术 与业务的深度融合创新，摘得"券商数字化转型优秀案例奖"。这标志着爱建证券依托"技术研发强、业 务理解深、部门协同佳"资源禀赋，走出了一条政策契合度高、特色辨识度强的数字化发展路径。 未来，爱建证券表示将继续锚定数字金融方向，深化AI、大数据与业务融合，在C端优化用户体验，在 B端拓展赋能场景，以技术探索与精准落地，在证券行业数字化转型中领航，为客户创造更高价值，为 行业发展贡献力量。 爱建证券在C端服务优化与B端业务赋能上同步发力，构建"功能+场景+体验"三维服务体系，让"爱建先 禾APP"成为客户信赖的"智能理财管家"；以数字化工具破解内部效率瓶颈，推动"经验驱动"向"数据驱 动"转型，为多业务条线赋能，提升整体效能。 ...

Core Viewpoint - The performance trajectory and structural differentiation of bank stocks are central topics as 2026 approaches, with expectations of a mild recovery in overall performance driven by macro policy support and easing risks [1][2] Group 1: Industry Performance Outlook - There is a consensus among institutions that the banking sector will see a mild recovery in revenue and net profit due to alleviated pressure from narrowing interest margins and growth in wealth management and other fee-based businesses [2][3] - The growth dynamics of the banking industry are shifting from homogeneous scale expansion to differentiated competition based on customer loyalty, business structure, and operational efficiency [3] - Major banks with established advantages in settlement and wealth management are expected to outperform smaller banks, which may face increased investment pressures [3] Group 2: Interest Margin and Asset Quality - The net interest margin is anticipated to stabilize in 2026, supported by improvements in deposit costs and a reduction in downward pressure on asset yields [4] - While overall asset quality is expected to remain stable, there is a shift in risk focus from the overall sector to specific banks, with those managing retail assets and real estate exposure effectively showing greater resilience [4] Group 3: Investment Strategies - Investment strategies are converging on three main areas: large state-owned banks, regional banks benefiting from local economic vitality, and banks with specific recovery or transformation potential [9][10] - Large state-owned banks are viewed as defensive choices with high allocation value due to their stable operations and attractive dividends [9] - Regional banks with solid asset quality and strong performance certainty, particularly in economically developed areas, are highlighted as targets for excess returns [9][10]

Core Viewpoint - The company emphasizes the integration of party leadership into its governance and operational processes, aligning with the national strategy and the "14th Five-Year Plan" to enhance its role in serving the real economy and promoting high-quality financial development [1][2][3]. Group 1: Governance and Leadership - The company has incorporated party work requirements into its corporate charter and governance processes, ensuring that party leadership is embedded in cultural construction, compliance risk control, and major decision-making [2]. - The company is actively promoting a culture of discipline and compliance, focusing on the implementation of the central eight regulations and addressing prominent issues to create a clean and positive working environment [4]. Group 2: Cultural Development - The company is committed to cultivating a unique Chinese financial culture, integrating the "Five Musts and Five Must Nots" into its operational framework to enhance cultural soft power and mission responsibility [5]. - A leadership group for cultural construction has been established, involving all levels of staff in promoting cultural values and activities, thereby fostering a cohesive and motivated workforce [5]. Group 3: Talent and Compliance - The company is enhancing its talent pool by focusing on professional development and establishing a talent exchange mechanism, which is crucial for supporting national strategies [6]. - Compliance and risk management are prioritized, with the establishment of a comprehensive compliance management team and the optimization of risk management systems to ensure effective oversight [6]. Group 4: Financial Services and Innovation - The company is actively involved in green finance, having financed 18.23 billion yuan for green industries in the first three quarters of the year, marking a 34.6% increase year-on-year [7]. - The company has also focused on rural revitalization, underwriting 1.79 billion yuan in bonds for rural projects and investing 109 million yuan in support initiatives since 2016, benefiting over 400,000 people [8]. Group 5: Pension and Digital Finance - The company is developing a comprehensive pension financial management system and has launched various pension fund products to enhance its offerings in the third pillar of pension finance [9]. - The company is leveraging digital technology to improve service capabilities, with significant enhancements to its digital platform and automation of numerous operational processes, resulting in increased efficiency [9]. Group 6: Future Outlook - Looking ahead, the company aims to deepen its understanding of the party's directives and focus on high-quality development, reinforcing its commitment to the "Five Articles of Financial Service" and contributing to the construction of a financial powerhouse [10].

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 申万宏源党委书记、董事长 刘健 一是强化功能定位，深入践行金融工作的政治性、人民性。"十四五"时期公司助力实体企业股债融资总规模超1.5 万亿元，证券客户托管资产超4万亿元；公司持续入选证监会白名单，在投行业务质量、投资者教育等评价中均获 评A类最高等级。公司将持续发挥"研究+投资+投行"综合金融服务优势，坚定履行直接融资"服务商"、资本市 场"看门人"、社会财富"管理者"职责，在服务资本市场发展大局中实现自身高质量发展。 二是聚焦主责主业，加快推动业务模式转型升级。公司始终坚持客户为先、专业至上，不断提高投资研究、产品 创设、风险定价、金融科技等核心能力，围绕强化"渠道力、服务力、产品力、数字力"建设丰富完善矩阵式客户 服务，财富管理转型逐步深入，大机构生态圈初具规模，投行业务股债全面进入行业第一梯队，证券投资交易业 务综合实力保持行业领先，国际业务发展质效提升显著。公司将牢牢把握"十五五"发展机遇，聚焦主业、做强主 业，持续深化改革发展，着力培育和打造长期竞争优势，努力建设值得长期信赖的一流投资银行。 三是统筹发展与安全，筑牢高质量 ...

本报讯 （记者向炎涛）12月10日，中国邮政储蓄银行股份有限公司（以下简称"邮储银行"）召开2025 年数字金融大会暨手机银行11.0发布会，此次大会展现了邮储银行在数字金融领域的阶段性成果与未来 布局，彰显了其以科技赋能金融、以智能重塑服务的坚定步伐。 在后台，邮储银行以智能分析驱动员工专业能力提升。例如，打造智能问数工具，破解了传统取数模式 技术壁垒高、流程冗长的痛点，将"专业的数据分析"转化为"人人可操作"的智能对话。 展望未来，邮储银行将始终坚守"金融为民"的初心，坚定不移地推进"数字邮储"战略，深化数字生态建 设，将科技力量转化为有感知、有温度的金融服务触角，触达千行百业，惠及千家万户，与客户、合作 伙伴及社会共创共享数字时代的美好未来。 （编辑 郭之宸） 邮储银行将智能化工具覆盖至"前台+中台+后台"全流程各个环节，实现运营的精细管理与组织的效能 跃升。 在前台，邮储银行以智能画像驱动精准营销能力提升。如打造的智能营销工具，打破银行业"广撒网式 营销"的困局，把"千人一面"的粗放触达，变成"千人千面"的精准服务。 在中台，邮储银行以智能模型驱动风控和业务效率的协同提升，如打造的智能审贷工具，有效缓 ...

数字金融的浪潮中，稳定币正从战略构想加速变为民生实效。2025年12月12日，这一承载着国家数字经 济期待的关键节点即将到来——国泰君安将正式启动稳定币万亿兑换工作。当2000万用户的稳定币余额 迎来价值兑现的时刻，不仅标志着一项民生红利的落地，更宣告中国在稳定币领域的战略布局已迈入实 质阶段。 此次万亿兑换的背后，是国家数字经济战略的精准落地。在全球稳定币市值突破2677亿美元、美元稳定 币占据98.4%市场份额的竞争格局下，中国以"合规先行、分步推进"的策略构建稳定币生态，既规避了 金融创新风险，更夯实了数字金融的发展根基。2000万用户规模的达成，不仅是市场参与度的直接体 现，更印证了国家战略与民众需求的深度契合，为稳定币进一步推广积累了坚实的实践基础。 对2000万参与者而言，明日的兑换是数字资产价值的真正激活。此前稳定币的持有更多停留在资产储备 层面，而本次兑换则打通了"数字资产—法定货币—民生应用"的闭环。兑换后的资金可无缝对接数字人 民币生态，覆盖零售消费、政务缴费等多元场景，让数字金融的便利切实融入日常生活。这种从"持 有"到"使用"的跨越，正是稳定币建设"以民为本"的生动体现，也让每一位参与 ...

转自：新华财经 在推进数字金融与智慧服务方面，公司强化科技赋能，积极丰富科技保险产品服务，今年已为重点领域 科技企业提供风险保障1.78亿元；依托"安心防"智慧防灾防损云平台，针对德宏洪涝、泥石流、台风等 多发灾害，及时向群众推送预警信息；推广"线上投保、线上查勘、线上理赔"全流程服务，让边疆群众 享受到高效便捷的保险服务。 未来，中国人寿财险德宏州中心支公司将继续秉持"一个国寿 一生守护"的经营理念，深度融入德宏州 沿边开放、乡村振兴、生态保护等发展大局，不断创新产品服务、深化央企担当，让"有一个美丽的地 方"更安全、更繁荣、更宜居。（罗洪涛） 编辑：赵鼎 在服务"三农"与乡村振兴方面，公司全面开展种植养殖保险、森林火灾保险、烟草种植保险等基础业 务，推出橡胶树风灾指数保险、咖啡价格指数保险等特色产品，破解边疆特色农业"靠天吃饭"的难题。 近六年，公司累计提供农业保险风险保障20亿元，支付赔款8851万元，有效助力农户稳定收益、产业持 续发展。 在支持沿边开放与实体经济方面，公司紧扣德宏"沿边自贸试验区"建设战略，重点服务边境贸易、特色 加工等支柱产业。近六年，公司已为辖区13家企业提供关税保证保险风险保障 ...