2025年12月16日至17日，三亚迎来一场聚焦银发经济未来的行业盛会——足力健老人鞋"聚焦经营 重回 增长"暨 2026 年夏季订货会在此举行。来自全国各地的经销商企业核心管理团队齐聚一堂，在经济学 家、营销专家与企业高层的思想碰撞中，共同解码老年消费市场的增长逻辑，明确2026年战略方向与执 行路径。这场盛会不仅是足力健夏季新品发布会，更成为其梳理发展脉络、重启增长引擎的战略发布 会。 经济学者解码风口：银发经济成确定性增长极 "中国经济已进入'快创新、慢增长'的新格局，机会藏在对存量资源的重新组合中。" 上海交通大学安泰 经济与管理学院教授、《变量》系列作者何帆在开幕演讲中率先破题，其分享的《未来的三个风口：中 国经济的新机遇》为在场经销商勾勒出宏观市场轮廓。他指出，当前经济环境下，新技术革命、老龄化 与新需求挖掘构成三大核心风口，其中老龄化带来的市场机遇尤为明确 ——"60 后" 婴儿潮一代步入老 年，成为收入稳定的消费主力，而适老化产品供给仍存在巨大缺口。 "过去十年我们证明了老龄行业的价值，未来一年要让经销商伙伴看到实实在在的增长成果。"他强调， 企业战略的落地离不开与合作伙伴的深度绑定，而这套经 ...

Core Viewpoint - Recent policies from central and local governments aim to significantly boost consumption through financial tools and support, indicating a strong commitment to enhancing consumer spending [1] Group 1: Policy Focus Areas - The policies are driven by a dual approach of "commerce" and "finance," targeting the entire consumption chain [3] - The first key area is the upgrade of "physical goods," specifically mentioning durable consumer goods and digital products, with a strong emphasis on automobiles [3] - The second key area focuses on the expansion and quality enhancement of "service consumption," including sectors like home services, tourism, elderly care, education, and healthcare [3] - The third key area is the cultivation of "new consumption," highlighting green consumption, digital consumption, and the integration of technology with consumption [4] Group 2: Investment Opportunities - Long-term investment strategies should focus on sectors backed by national blueprints with significant market potential, such as smart connected vehicles, consumer electronics, and the silver economy [5] - Short-term investment opportunities include sectors directly benefiting from policies like the trade-in programs and financial support for durable goods, as well as those recovering from service consumption, such as tourism and offline retail [5] - Technology companies providing infrastructure for new consumption, such as digital payment and e-commerce service providers, are also highlighted as potential investment targets [5]

在政策引领下，我国消费市场正加速从"物质型"向"服务型""体验型"转型，人工智能、场景融合等元素 催生的消费场景不断"焕新"，为经济高质量发展注入强劲动力。 新华财经上海12月18日电 近日召开的2025年中央经济工作会议将"坚持内需主导，建设强大国内市 场"置于2026年八大重点任务之首，明确提出深入实施提振消费专项行动，扩大优质商品和服务供给、 优化"两新"政策实施等一系列举措。 提振消费信号密集释放 "扩大内需是有效应对外部冲击的战略举措，也位列明年经济工作重点任务之首。"中泰国际首席经济学 家李迅雷分析认为，中央经济工作会议提出，要深入实施提振消费专项行动，制定实施城乡居民增收计 划，这是从消费能力的角度入手提振消费；而扩大优质商品和服务供给，则聚焦于进一步释放消费增长 空间，通过"新技术-新产品-新场景"等实现供需良性循环。 "今年政府工作报告32次提及'消费'，政策对消费的重视程度前所未有。"东海基金的基金经理杨恒表 示。 相关部门正协同发力，推动一系列促消费政策落地。近日，商务部、中国人民银行、金融监管总局联合 印发《关于加强商务和金融协同更大力度提振消费的通知》，围绕商品消费、服务消费、新型消 ...

Group 1 - The article discusses the dual nature of opportunities and challenges in the Malaysian market for Chinese companies venturing abroad, emphasizing the need to understand local business logic beyond the typical Chinese perspective [1][2] - Malaysia is positioned as a buffer zone amid the US-China trade war, attracting interest from major powers due to its industrial advantages and high-tech capabilities, making it a desirable partner for both China and the US [3][4][6][7] - The article highlights the importance of localizing business strategies for Chinese companies, as many have struggled due to a lack of understanding of local culture, user experience, and language [11][15][18] Group 2 - The article identifies key sectors with growth potential in Malaysia, including renewable energy, digital technology, healthcare, and elder care, suggesting that Chinese companies should align their offerings with local needs [19][30] - It points out that the service sector in Malaysia surpasses manufacturing, providing a fertile ground for digital industries to thrive [20] - The discussion includes the necessity for infrastructure development, such as charging stations for electric vehicles, to support the growth of new industries [20][22] Group 3 - The article emphasizes the need for Chinese companies to engage with local communities and integrate into the local ecosystem to avoid missing opportunities [30] - It also mentions that many Chinese enterprises view Malaysia merely as a production base to circumvent tariffs, which is not a sustainable approach [17][30] - The importance of government collaboration in implementing technological advancements and regulatory frameworks is highlighted as essential for successful market entry [28][29]

养老金融是中央金融工作会议提出的金融"五篇大文章"之一。券商在为养老事业注入金融活水的同时， 正构筑自身发展的第二曲线。 打开投融资空间 近年来，政策持续精准发力，为养老金融发展筑牢制度根基。2023年，中央金融工作会议首次提出做好 养老金融大文章。去年年底印发的《关于金融支持中国式养老事业 服务银发经济高质量发展的指导意 见》明确提出，到2028年，养老金融体系基本建立；到2035年，基本实现中国特色金融和养老事业高质 量发展的良性循环。 当前，我国养老金融正在逐步发展，但也面临挑战。一方面，在养老金管理领域，市场化、专业化的投 资运营能力建设任重道远。另一方面，养老健康、照护服务、适老产品等产业仍处于起步发展阶段，具 有轻资产、回报周期长等特征，传统信贷支持有限，亟需多元融资工具予以支持。 券商正在通过产品创新、服务升级、跨界协作等方式，在养老金管理赛道中寻求差异化定位。 "养老金管理有'长期+刚性'的需求。"王涵表示，我国"三支柱"养老体系的发展要点在于搭建分层产品 体系，形成以长期考核、稳健增值为核心的投资与激励机制；难点主要在于如何在安全性与收益率之间 取得平衡，以及在跨部门政策协同不完全、居民金融 ...

商报讯(记者张宇帆通讯员王诗岚)近日，一场以"银青携手助共富匠心同筑乐龄梦"为主题的文化活动在 杭州退休干部职工大学举行。本次活动由杭州市人力资源和社会保障局主办，杭州市企业退休人员管理 服务中心(杭州退休干部职工大学)与建德市人力资源和社会保障局联合承办，旨在搭建代际交流、城乡 联动、产教融合的共享平台，为银发经济与乡村振兴注入新活力。 活动现场，设置了农特产品展销、非遗技艺体验、健康服务咨询、反诈禁毒宣传等多个主题展区。与此 同时，校园文化节文艺展演同步开启，走秀、舞蹈、吉他弹唱、古筝演奏等十余个节目轮番亮相，充分 展现了老年学员乐学有为、积极向上的精神风貌。 而活力洋溢的背后，是杭州退休干部职工大学在老年教育模式上持续的创新探索。近年来，杭州退休干 部职工大学持续推动教育资源向基层延伸，目前已建成102个街道级企退学苑，全市域全年服务学员近3 万人次，实现"家门口的老年大学"。此外，还借助"数字电视+小程序+直播"体系，将学习半径延伸至云 端，服务线上学员超1万人次。 值得一提的是，去年以来，市退管中心(退大)着力推动老年教育从"文化养老"向"价值创造"升级。依 托"银青共建"平台，积极对接青年创业项目 ...

抢抓机遇，首当洞察趋势、前瞻布局。经济潜能的释放往往伴随技术突破、政策调整或市场变革，需要 敏锐捕捉信号。"十四五"时期，江苏聚焦数字经济、生物医药等新赛道，推动产业迈向中高端；面对海 南自贸港机遇，一批苏企率先行动，比如一家本土药企借助海南"特许医疗"政策，仅用3年就高效完成 创新药从研发到本土化生产的全流程。着眼未来，我们还须继续加强对全球科技前沿、产业变革方向的 研判，在绿色低碳、人工智能、银发经济等领域提前卡位，形成更多先发优势。 日前举行的中央经济工作会议上，习近平总书记以"五个必须"概括做好新形势下经济工作新的认识和体 会。其中，"必须充分挖掘经济潜能"位列首位。经济潜能是发展的底气所在，是增长的后劲之源。我国 的经济潜能，来自庞大内需市场的广阔空间，来自新质生产力培育壮大中涌动的创新活力，来自稳定向 好的发展大势、海纳百川（301667）的开放格局。对江苏而言，这份潜能既体现在沿江沿海的区位优势 中，也蕴含在科教资源的雄厚实力里，更彰显于干部群众干事创业的昂扬斗志中。 抢抓机遇，成在统筹兼顾、久久为功。潜能转化是一项系统工程，需兼顾当前与长远、局部与全局。我 们要坚持内需与创新双向发力，在投资于 ...

Core Insights - The central financial work conference has identified pension finance as one of the key areas for development, aiming to establish a robust pension finance system by 2028 and achieve a high-quality development cycle by 2035 [1][2] Investment Opportunities - The aging population opens up investment opportunities for brokerages across the entire industry chain, including healthcare, pension services, long-term care, and elder-friendly technology [2][6] - Brokerages can leverage various financial products to effectively integrate long-term sectors into residents' asset allocation [2][5] Challenges in Pension Finance - The pension finance sector faces challenges such as the need for market-oriented and professional investment management capabilities, as well as the nascent development of elder care services and products [1][3] - There is a pressing need for diverse financing tools to support the light-asset and long-return-cycle characteristics of the elder care industry [1][6] Differentiation Strategies - Brokerages are seeking differentiation in pension management through product innovation, service upgrades, and cross-industry collaboration [3][4] - A multi-strategy research and investment system is essential for brokerages to achieve long-term stable returns while managing inflation and volatility [3][4] Asset Management Services - Brokerages are providing comprehensive asset management services for various pension funds, including social security and enterprise annuities, to promote stable development [4][5] - The implementation of personal pension systems has significantly increased demand for wealth planning among individual clients, creating opportunities for brokerages in account management and product distribution [4][5] Financial Innovation - Brokerages are expanding their service boundaries through financial innovation, utilizing tools like private placement notes (PPN) and asset-backed securities (ABS) to meet diverse financing needs [6][7] - The successful issuance of the first "support for the pension industry" bond demonstrates the potential for low-cost financing channels in the elder care sector [6][7] Future Directions - Brokerages are encouraged to focus on high-growth segments of the elder economy, innovate pension financial tools, and explore collaborative ecosystems with various partners [7]

Core Viewpoint - The recent guidelines from the National Medical Products Administration aim to enhance the regulation of cosmetics, particularly focusing on the development of products for the elderly, addressing the needs of an aging population and injecting new vitality into the consumer market [1][2] Group 1: Market Context - China has become the largest cosmetics consumer market globally, with retail sales of cosmetics reaching 229.1 billion yuan in the first half of this year, and the market size has exceeded 1 trillion yuan for two consecutive years [1] - The aging population is shifting the demand for beauty and skincare products from "optional consumption" to "essential consumption," highlighting the need for products that cater specifically to the elderly [1] Group 2: Industry Challenges - Existing elderly cosmetics in the market suffer from unclear positioning, single functionality, and outdated formulations, failing to meet the actual demands of the elderly, such as enhanced moisturization, anti-wrinkle properties, and safety concerns [1] Group 3: Policy Implications - The reform will support product development aimed at the elderly, encouraging companies to focus their R&D resources on this segment, which is expected to fill market gaps and create new growth opportunities for the cosmetics industry [1] - The initiative is part of a broader framework that combines regulatory reform with high-quality development, promoting innovation while ensuring product safety and quality [2] Group 4: Collaborative Efforts - Successful implementation of these policies requires collaboration among regulatory bodies, companies, and society to ensure that the elderly's beauty needs are met and to foster a more inclusive perception of beauty across all ages [2] - Companies are encouraged to invest in genuine R&D and innovate around the physiological characteristics of elderly skin, while regulatory bodies should establish efficient product evaluation and safety standards [2]

新华财经新加坡12月17日电（记者刘春涛）总部位于新加坡的东盟与中日韩宏观经济研究办公室 （AMRO）17日发布题为《全球变局下的财政韧性：东盟+3规划未来之路》的评论文章。文章指出， 在全球经济增长放缓、借贷成本上升及人口结构变化的背景下，财政政策已成为东盟+3（ASEAN+3） 地区建立经济韧性的核心。 老龄化带来的挑战与"银发经济"机遇 人口老龄化是当前东盟+3面临的关键财政挑战，涉及日本、韩国、新加坡、泰国和中国等经济体。文 章列举数据称，中国的人均预期寿命已从2000年的71.4岁显著提高至2023年的78.6岁，这对医疗和养老 金体系构成了财政压力。 然而，文章也援引IMF报告指出，"70岁是新的50岁"，随着老年人认知能力提升，"银发经济"将带来新 机遇，政府应通过投资终身学习和护理设施来缓解压力。 债务可持续性框架的多元化 美债可持续性引发关注 文章特别提到，尽管国际货币基金组织（IMF）强调财政可持续性需建立在经济和政治上可行的基础赤 字之上，但作为传统基准的"无风险"美国国债利率正受到审视。 文章指出，美国目前面临38万亿美元的债务负担，对其长期债券的需求——特别是来自东盟+3成员的 需求 ...