年报数据显示，截至2024年末，中投公司总资产达1.57万亿美元、净资产1.37万亿美元。十年对外投资年化净收益率达 6.92%，较上年提升35个基点，超十年业绩目标61个基点。中央汇金受托管理的国有金融资本达6.87万亿元人民币，较 年初增长6.44%。 2024年是中投公司承前启后的关键一年。年报披露，公司已按照治理程序顺利完成了主要管理人员交接。董事长张青 松在致辞中表示，新任领导班子将继续带领广大员工，守正创新履行职责使命，积极稳妥应对形势变化，稳中求进推 动改革发展。 业绩稳健增长穿越周期彰显投资实力 2007年9月，中国投资有限责任公司正式成立。其初始资金来源于财政部发行的1.55万亿元特别国债，用于向中国人民 银行购汇2000亿美元作为注册资本。中投公司的主要使命是实现国家外汇资金的多元化投资，因而也被认定为中国的 主权财富基金。 12月9日，中国投资有限责任公司（下称"中投公司"） 正式发布经董事会批准的《2024年度年报》，全面披露了公司 截至 2024 年底的财务状况、经营业绩、境外投资布局及境内股权管理等核心信息。 中投公司年报披露，截至2024年12月31日，公司总资产达1.57万亿美 ...

Core Viewpoint - The article discusses the evolution of the asset management industry in China, highlighting the differentiation between public and private funds, and how Huaxia Capital has carved out a unique niche by focusing on absolute returns through innovative derivative strategies [1][15]. Group 1: Market Context - The Chinese asset management industry is experiencing a shift towards high-quality development, with a clear distinction in the U.S. market between public funds offering standardized market beta and hedge funds focusing on absolute returns [1]. - Domestic public products are becoming increasingly beta-oriented, while many private funds remain focused on long positions in stocks, leading to intense competition and a lack of differentiation [1]. Group 2: Huaxia Capital's Strategy - Huaxia Capital has successfully developed a differentiated approach by leveraging a deep understanding of derivative tools, offering a multi-asset solution centered around three strategies: "strategy assurance," "stable income," and "aggressive appreciation" [1]. - Since entering the derivatives market in 2020, Huaxia Capital has issued products totaling over 100 billion yuan, establishing itself as a significant player in areas like "snowball" and "alternative fixed income+" [1]. Group 3: Snowball Strategy - The "Snowball" strategy converts market volatility into sustainable returns, relying on a sophisticated structure that generates income as long as the index does not fall below a predetermined "safety cushion" [2][3]. - As of November 30, 2025, Huaxia Capital has issued over 500 Snowball products, achieving a success rate of over 99% and an average return of 14% per product, generating a total of 2.45 billion yuan in profits for investors [3]. Group 4: Core Competencies - Huaxia Capital prioritizes the interests of its investors, proactively adjusting product structures to mitigate risks, especially during market fluctuations [4]. - The company has innovated a "joint distribution" model, allowing multiple brokers to sell the same product, significantly increasing fundraising efficiency [4]. - A refined online inquiry system has been established to enhance trading efficiency, allowing for better pricing and stronger relationships with trading partners [5]. Group 5: Product Lines - Huaxia Capital is expanding into on-exchange derivatives, focusing on two main product lines: income-generating strategies and tool-based strategies, with covered call strategies being a key offering [6]. - The company provides various tools to match different market views, including asymmetric index increases and protective strategies like the "Star and Satellite" strategy [7]. Group 6: Alternative Fixed Income+ - In response to challenges in traditional fixed income, Huaxia Capital has introduced an "alternative fixed income+" model that clarifies income structures and risk characteristics through the use of options [9]. - The alternative fixed income products are designed to provide effective asset allocation tools for investors with varying risk preferences, featuring customizable structures [9]. Group 7: Low-Volatility All-Weather FOF - The all-weather FOF aims to provide stable returns in a low-volatility environment, utilizing a diverse range of asset classes and investment tools [11]. - Huaxia Capital's unique approach includes a volatility control module that actively manages risk based on market conditions, enhancing the product's performance [12]. Group 8: Conclusion - Huaxia Capital's rapid growth is attributed to its innovative product line that meets the absolute return needs of high-net-worth clients, showcasing a proactive approach in asset allocation and strategy innovation [14][15]. - The company is positioned at the forefront of a trend in the Chinese private equity industry, moving away from homogeneous stock long positions towards a more diversified approach akin to mature overseas markets [15].

Core Insights - The article emphasizes that merely saving money is insufficient in the face of inflation and rising living costs, advocating for effective money utilization to achieve wealth growth [1] Group 1: Risks of Pure Saving - Relying solely on saving money overlooks the impact of inflation, which often exceeds the interest rates of savings accounts, leading to a decline in real purchasing power [3] - Pure saving lacks long-term financial planning, resulting in inefficient use of funds and slower wealth growth compared to rising prices [3] - The opportunity cost of saving is significant, as funds could be invested in higher-return channels instead of being left idle in a bank [3] Group 2: Wealth Growth Strategies - The power of compound interest is highlighted as a key tool for wealth growth, with an example showing that investing 100,000 annually at an 8% return could yield 10 million after 30 years [3] - Proper asset allocation is crucial for wealth growth, recommending diversification across various asset types such as stocks, bonds, funds, and real estate to reduce risk and enhance returns [3] - Long-term investment is presented as a vital strategy, as quality assets tend to provide stable returns over time despite short-term market volatility [3] Group 3: Investment Approaches - Multi-channel investment is advised to effectively spread risk, suggesting allocations to stocks, bonds, funds, real estate, and entrepreneurial projects [4] - Regular fixed-amount investments can smooth out costs during market fluctuations, leading to stable returns over time [4] - Enhancing personal skills is identified as an important avenue for wealth growth, as increased professional capabilities can lead to higher income and more investment capital [4] Group 4: Financial Management - Managing debt wisely can enhance capital efficiency, with low-interest loans used to acquire high-yield assets demonstrating leverage benefits [4] - Establishing an emergency fund is essential for financial management, with recommendations for it to cover 6-12 months of living expenses to handle unexpected events [4] - Insurance planning is necessary to provide economic security for families, helping to mitigate significant financial risks [4] Group 5: Financial Goals and Learning - Setting clear financial goals is the starting point for financial freedom, with both short-term and long-term objectives guiding investment strategies [4] - Continuous learning and adaptation to changing financial markets are crucial for leveraging new investment tools and strategies effectively [4] - A positive mindset is essential for wealth growth, as maintaining calm and rationality during market fluctuations is key to adhering to sound financial principles [5]

Core Insights - The financial industry is undergoing a transformation in investor education, shifting from simple knowledge dissemination to deeper "value empowerment" in the context of capital market reforms and digitalization [1][2] Group 1: Investor Education Initiatives - The "Financial Industry High-Quality Development and Investor Education Innovation Communication Activity" has been launched, involving over 150 major asset management institutions to collect high-quality educational materials [2] - The educational materials include short videos, long videos, in-depth articles, creative posters, and public welfare practices, showcasing the asset management industry's exploration and achievements in investor education [2] Group 2: Short Video Content - Short videos are becoming a key channel for investors to acquire knowledge, with various themes such as long-term investment concepts and asset allocation explained through engaging narratives and cultural references [3] - Examples include the series "Investment Road with Jingli" promoting long-term investment and "Asset Allocation Classroom" using traditional culture to explain key concepts [3] Group 3: Long Video Content - Long videos address the demand for in-depth content, providing comprehensive analyses of industries and investment logic, such as the competitive landscape of solid-state batteries and the evolution of intelligent robots [5] - These videos aim to guide investors from chasing short-term trends to understanding underlying investment logic [5] Group 4: In-Depth Articles - In-depth articles focus on building a cognitive moat for investors, covering strategies, market dynamics, and psychological aspects of investing [7] - Topics include quantitative investment strategies, asset allocation techniques, and the impact of macro policies on investment decisions [7] Group 5: Creative Posters - Creative posters serve as an important medium for investor education, utilizing visual elements to simplify complex concepts and convey investment philosophies [8] - Examples include posters that explain net asset values and investment principles through engaging designs and cultural references [8] Group 6: Public Welfare Practices - Financial institutions are expanding the boundaries of investor education through public welfare initiatives, such as educational programs targeting youth and rural communities [10] - These initiatives aim to enhance financial literacy and support sustainable development in various demographics [10]

智通财经APP获悉，交银国际发布研报称，2025年全球经济韧性普遍超出年初预期，AI科技周期未完待 续，政策保持连贯性。展望2026年，全球经济宏观环境向有序回归，经济增长一定程度上具韧性，利率 或维持限制性水平。在增长韧性、通胀、利率均偏高的环境下，资产配置的核心逻辑向攻守平衡转换。 美债方面，利率中枢"易升难降"格局难改，关注重点仍是长端利率因通胀、财政、政策不确定性而承 压，收益率曲线或趋陡峭化。 交银国际主要观点如下： 港股盈利可期，"慢牛"延续。估值处于合理区间，性价比突出;流动性环境持续改善，南向资金和海外 资金回流;中国经济的结构性亮点(AI 科技、反内卷、内需修复)预计将开始在盈利层面兑现。 美股方面，"泡沫"短期难证伪，风格待转换。科技巨头受益于AI革命和资本支出扩张的科技龙头企 业，凭借强劲的盈利增长和技术壁垒，仍具备估值支撑，但需警惕投资放缓和信贷风险;此外，美股大 小盘分化有望收窄，小盘股和周期股或将迎来补涨机会。 ...

2025年12月7号，中国官方公布自己手里的黄金数量为7412万盎司，换算成吨的话是2305吨，这个数字 达到了新高，这些黄金都是实际存在的实物储备，同时中国也在逐步减少美债的持有量，比如在9月份 就减持了5亿美元，英国那边动作更明显，一下子减少了393亿美债，目前还剩下8650亿美元，这些调整 不是临时决定的，而是全球很多央行都在悄悄改变资产配置的方向，大家开始对美元信任度降低了。 年初中国买了253亿美债，算是给了点面子，第二季度特朗普又加关税、卡技术，中国就调整资产结 构，12月公布黄金储备的时间，正好在特朗普访华前两个月，这个时间不是巧合，是特意选的，你谈你 的，我亮我的底牌，各自下自己的棋。 2026年4月，特朗普打算来中国，重点不是谈贸易问题，而是讨论债务怎么分担，还提到"规则共享"这 种虚的说法，他想让中国接受现有的国际秩序，实际上是想把责任推给中国，但特朗普的打算错了，中 国公布黄金储备，意思是不会跟他分蛋糕，而是要自己开个新厨房，这不是对抗，是另起炉灶。 过去美元依赖石油、美债和黄金来维持地位，石油要用美元买，美债大家抢着买，黄金也随着美元走， 现在情况变了，原油交易中越来越多使用人民币或其 ...

Core Viewpoint - The discussion revolves around the risks of holding cash due to inflation and the need for individuals to reconsider their financial strategies, particularly in light of predictions for 2026 [2][4][6]. Inflation and Cash Holding - Inflation diminishes the purchasing power of money, meaning that cash held over time loses value [4]. - In China, inflation rates have fluctuated between 2% to 4% in recent years, leading to significant long-term impacts on cash value [4]. - A hypothetical scenario illustrates that 100,000 yuan held without investment could lose approximately 26% of its purchasing power over ten years at a 3% inflation rate [4]. Investment Recommendations - It is advised that individuals should not keep all their money in cash or fixed deposits but rather invest in appreciating assets like stocks, bonds, or real estate to outpace inflation [5]. - Diversification in asset allocation is crucial, as it helps mitigate risks associated with market volatility [6][9]. Practical Financial Strategies - Maintaining a cash reserve for emergencies is essential, with recommendations suggesting 3 to 6 months' worth of living expenses as a safety net [9]. - For funds exceeding emergency reserves, conservative investment options such as government bonds or bank products are recommended to balance risk and return [9][10]. - Individuals should avoid impulsive investments based on trends or peer pressure, as many inexperienced investors face losses in volatile markets [10][11]. Future Economic Considerations - The year 2026 is highlighted as a potential turning point for economic policies or cycles, prompting discussions about cash management strategies [6]. - The increasing prevalence of digital payments may further alter the role of cash in personal finance [6]. Conclusion on Financial Management - A balanced approach to cash holding and investment is emphasized, with a focus on understanding personal financial situations and risk tolerance [13]. - The importance of financial literacy and cautious decision-making in response to external financial advice is underscored [11][13].

01 农产品专场 | 国信期货2026年年度策略报告会 14:00-17:00 核心看点： 聚焦2026年农产品投资策略，分析油脂结构性机会、糖价寻底、周期去产能节奏及苹果近远月合约 分化，探讨经济转型期的资产配置。 嘉宾： 曹彦辉丨国信期货研究所副所长 侯雅婷丨国信期货农产品分析师 覃多贵丨国信期货农产品分析师 黎静宜丨国信期货农产品分析师 扫码预约 02 国泰梁杏：2026年科技行情还能延续吗？【把握2026投资机会】 15:30-16:30 核心看点： 2026年科技板块有没有行情？人工智能真的有泡沫吗？算力主线能撑到明年吗？谷歌TPU会吃掉英 伟达GPU的份额吗？本期直播将详解2026年科技赛道投资机遇，人工智能可能从"讲故事"转向"看 业绩"和"真落地"，算力依然是最硬核主线！ 嘉宾： 梁杏丨国泰基金 基金经理 扫码预约 03 2026全球资产配置前瞻：AI浪潮领航，捕捉科技与周期共振机遇 19:30-20:30 核心看点： 核心看点： 2026，AI进入"应用奇点"——从"能用"到"好用"，科技主线贯穿全球资产，成长与价值轮动中寻 找超额收益。- 全球算力共振 + 国产替代提速，半导体、光模块、机 ...

北京青年报记者对年轻人的最新理财方式进行了梳理，不难看出，年轻人资产配置有了新变化。 在存款利率持续下行的背景下，"钱袋子"如何保值增值，养老规划该怎么做成为年轻人关注的焦点问题 之一。 编辑/刘忠禹 低利率与长寿化趋势叠加对年轻人的冲击及对传统"储蓄养老"观念的颠覆。年轻人正在更加科学理想的 做好养老规划，主要包括：养老金规划、健康规划、居住规划等。 其中，年轻人养老金规划中，购买货币基金、债券基金、黄金ETF等产品，希望以此在可接受的风险范 围内尽可能地让钱袋子"保值增值"。 文/北京青年报记者 蔺丽爽 ...

12月9日，中国投资有限责任公司（下称中投公司）发布经董事会批准的《2024年度报告》（下称《年 报》）。《年报》显示，截至2024年12月31日，中投公司总资产达1.57万亿美元，净资产达1.37万亿美元，过 去十年对外投资年化净收益率按美元计算为6.92%，超出业绩目标61个基点；中央汇金受托管理的国有金融资 本达6.87万亿元人民币，较年初增长6.44%。 《报告》显示，在中投公司境外投资组合中，公开市场股票占比34.65%。在公开市场股票行业类型分布，信息科 技占比25.85%。记者注意到，2023年的报告中信息科技行业占比是21.91%，2024年提升了约4个百分点。2023年 的报告还披露了股票的区域分布，其中美股占比60.29%，非美发达股票占比25.58%，新兴市场股票及其他占比 14.13%。2024年未披露这一数据。 "在公开市场股票方面，强化业绩导向，优化调整相关策略规模。做好自营投资规划，有重点地加大自营投资力 度。持续加强前瞻性研判，积极把握主题投资机遇。聚焦重点区域和领域，研究优化策略结构。"《报告》称。 公开市场股票投资占比34.65% 《报告》披露了中投公司境外投资组合分布及比 ...