登录新浪财经APP 搜索【信披】查看更多考评等级 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！ 本周末影响市场的重要资讯有：李强主持召开国务院常务会议，研究进一步做好节能降碳工作；吴清提 出适度拓宽券商资本空间与杠杆上限，从价格竞争转向价值竞争；中国证监会就《上市公司监督管理条 例（公开征求意见稿）》公开征求意见；金融监管总局发布通知调整保险公司投资相关股票的风险因 子，培育壮大耐心资本；2025医保药品目录新增114种药品，其中50种为1类创新药；业绩不佳基金经理 或将降薪30%；美股三大指数上周五小幅收涨，大型科技股多数上涨。 【宏观及市场要闻】 李强主持召开国务院常务会议 研究进一步做好节能降碳工作 吴清：适度拓宽券商资本空间与杠杆上限 从价格竞争转向价值竞争 在中国证券业协会第八次会员大会上，证监会主席吴清发言时提到，行业机构需立足自身资源禀赋，从 价格竞争转向价值竞争。头部机构应增强资源整合能力，力争形成若干家具有国际影响力的标杆机构； 中小机构需聚焦细分领域、特色业务与重点区域，深耕细作打造 "小而美" 的精品服务商。监管层面将 强化分类监管，对优质机构优化评价指标、适 ...

Group 1 - The article emphasizes the importance of boosting consumer spending as a key macroeconomic policy direction for 2026 and beyond, with specific policy spaces identified for short, medium, and long-term strategies [1][4][5] - Short-term policy measures include extending and expanding direct subsidies, consumer loan interest subsidies, and implementing paid staggered vacations to enhance consumer experience and demand [1][2][3] - Medium-term strategies focus on accelerating consumption tax reform, upgrading consumption infrastructure, leveraging new technologies for product and scene development, and promoting employment-friendly development [4][5] - Long-term perspectives involve improving income distribution systems, enhancing social security, and optimizing consumption through population growth and international demand activation [5][6] Group 2 - The article discusses the impact of the anticipated U.S. interest rate cuts on global markets, leading to a risk-on sentiment and a recovery in stock prices, particularly in technology and materials sectors [6][7][8] - Despite a mixed U.S. economic data landscape, market sentiment remains optimistic, with expectations of a 25 basis point rate cut by the Federal Reserve in December [7][15] - The article highlights the performance of various asset classes, noting a significant rise in copper prices and a stable demand for gold, while U.S. Treasury yields have shown volatility [9][10][12] Group 3 - The article outlines recent policy changes in housing provident fund regulations aimed at supporting housing consumption, including increased withdrawal limits and expanded usage scenarios [27][28][29] - It notes that various regions are implementing measures to optimize housing fund policies, aligning them with population policies and enhancing support for high-quality housing [27][28][29] - The article also mentions the broader context of economic recovery efforts, including the promotion of durable goods consumption and the integration of artificial intelligence in consumer sectors [35][36]

（原标题：吴清发表重要讲话；美联储将举行议息会议｜周末要闻速递） 要闻速递 国常会：研究进一步做好节能降碳工作 国务院总理李强12月5日主持召开国务院常务会议，研究进一步做好节能降碳工作，听取规范涉企行政 执法专项行动情况汇报并审议通过《行政执法监督条例（草案）》，讨论《中华人民共和国国家消防救 援人员法（草案）》，部署全链条打击涉烟违法活动有关举措。 李强将与全球主要国际经济组织负责人举行"1+10"对话会 外交部发言人宣布，国务院总理李强将于12月9日上午在北京同新开发银行行长罗塞芙、世界银行行长 彭安杰、国际货币基金组织总裁格奥尔基耶娃、世界贸易组织总干事伊维拉、联合国贸易和发展会议秘 书长格林斯潘、国际劳工组织总干事洪博、经济合作与发展组织秘书长科尔曼、国际清算银行总经理卡 斯滕斯、金融稳定理事会主席诺特和亚洲基础设施投资银行行长金立群等10家国际经济组织负责人举 行"1+10"对话会。 险企投资股票风险因子再度下调 沪深300、科创板等将受益 12月5日，国家金融监管总局发布《关于调整保险公司相关业务风险因子的通知》，在下调险企业务风 险因子的同时明确相关监管要求。一是对长期持仓的沪深300等指数成 ...

Group 1 - The meeting emphasized that energy conservation and carbon reduction are crucial for achieving carbon peak and carbon neutrality, and for accelerating the green transformation of development methods [4] - It was highlighted that enhancing the internal motivation for energy conservation and carbon reduction is essential, with a focus on policy effects and market mechanism improvements to promote a green lifestyle [4] - The meeting discussed the importance of standardizing administrative law enforcement related to enterprises to optimize the business environment and stabilize market expectations [4] Group 2 - The draft of the "People's Republic of China Fire Rescue Personnel Law" was discussed and approved in principle, aiming to clarify the responsibilities, management, and treatment of fire rescue personnel [5] - The meeting underscored the need to strengthen the capabilities of grassroots fire rescue teams and enhance risk assessment and emergency response training [5] - A comprehensive crackdown on illegal tobacco activities was mandated, focusing on regulatory enforcement across the entire tobacco production and distribution chain to protect national interests and consumer rights [5]

Group 1 - The meeting emphasized that energy conservation and carbon reduction are crucial for achieving carbon peak and carbon neutrality, and for accelerating the green transformation of development methods [1] - It was highlighted that the optimization of the business environment and stabilization of market expectations are closely related to administrative law enforcement concerning enterprises [1] - The meeting called for a systematic approach to enhance the standardization of administrative law enforcement, focusing on long-term solutions and improving mechanisms [1] Group 2 - The draft of the "People's Republic of China National Fire Rescue Personnel Law" was discussed and approved in principle, aiming to enhance the responsibilities, management, and treatment of fire rescue personnel [2] - The meeting stressed the importance of strengthening grassroots fire rescue capabilities and conducting comprehensive drills to prevent major fire accidents [2] - A comprehensive crackdown on illegal tobacco activities was mandated, with a focus on regulating all aspects of tobacco production, storage, logistics, distribution, and retail [2]

Group 1 - The meeting emphasized that energy conservation and carbon reduction are crucial for achieving carbon peak and carbon neutrality, and for accelerating the green transformation of development methods [3] - It was highlighted that enhancing the internal motivation for energy conservation and carbon reduction is essential, with a focus on policy effects and market mechanism improvements to promote a green lifestyle [3] - The meeting discussed the importance of standardizing administrative law enforcement related to enterprises, which is vital for optimizing the business environment and stabilizing market expectations [3][4] Group 2 - The draft of the "Administrative Law Enforcement Supervision Regulations" was reviewed and approved, aiming to strengthen comprehensive supervision and clarify the boundaries of law enforcement authority [3] - The meeting discussed the draft of the "Fire Rescue Personnel Law," which aims to enhance the professionalization and standardization of fire rescue teams, ensuring better management and support for personnel [4] - Measures to combat illegal tobacco activities were outlined, focusing on comprehensive regulation across the entire supply chain to maintain market integrity and protect consumer rights [4]

SpaceX冲击8000亿美元估值，瞄准明年IPO。最新消息显示，SpaceX正在启动新一轮股份出售，目标 估值高达8000亿美元（约合人民币5.65万亿元）； 公司有望再度超越OpenAI、字节跳动，成为全球估 值最高的独角兽； 另有消息称，SpaceX向投资者透露目标于明年下半年进行IPO，且考虑整体上市。 OpenAI宣布将于下周二发布GPT-5.2应对谷歌Gemini 3竞争。Gemini 3是上个月发布后登顶了性能排行 榜，并获得了OpenAI首席执行官Sam Altman和马斯克高度评价的竞争模型。近日，Altman宣布公司进 入"红色警报 (code red)"状态，以快速应对来自谷歌Gemini 3和Anthropic等竞争对手带来的日益增长的 压力。 突发！俄罗斯多地遭袭。当地时间5日，乌克兰总参谋部称，当天凌晨乌克兰武装部队袭击了俄罗斯克 拉斯诺达尔边疆区的海港和萨马拉州的炼油厂。乌克兰国防军部队袭击了捷姆留克海港的基础设施。此 外，位于俄罗斯萨马拉州的瑟兹兰炼油厂也遭到袭击。该炼油厂年加工原油量为700万至890万吨，为俄 罗斯武装部队提供石油供应。俄方对此暂无回应 美股方面，三大指数均 ...

会议讨论并原则通过《中华人民共和国国家消防救援人员法（草案）》，决定将草案提请全国人大常委 会审议。会议指出，消防救援人员是人民生命和财产安全的卫士。国家综合性消防救援队伍组建以来， 有效处置一系列重特大事故灾害，受到社会各界普遍赞誉和信赖。要进一步明确消防救援队伍职责纪 律、人员管理、待遇保障等制度安排，提升正规化、专业化、职业化建设水平。要着力增强基层消防救 援能力，聚焦薄弱环节强化风险隐患排查整治，加强先期处置、转移疏散等综合演练，夯实消防安全治 理基础，坚决防范遏制重特大火灾事故发生。 会议指出，要严厉打击涉烟违法活动，全方位全链条加强烟草生产、仓储、物流、分销、零售等监管执 法，持续净化烟草市场环境，切实维护国家利益和消费者权益。 会议还研究了其他事项。 国务院总理李强12月5日主持召开国务院常务会议，研究进一步做好节能降碳工作，听取规范涉企行政 执法专项行动情况汇报并审议通过《行政执法监督条例（草案）》，讨论《中华人民共和国国家消防救 援人员法（草案）》，部署全链条打击涉烟违法活动有关举措。 会议指出，节能降碳是推进碳达峰碳中和、加快发展方式绿色转型的重要抓手。要更高水平更高质量做 好节能降碳工作 ...

会议指出，涉企行政执法关系营商环境的优化、市场预期的稳定。今年以来，各地区各部门认真开展规 范涉企行政执法专项行动，取得积极成效。要聚焦重点难点、长效系统施治，推动由个案纠偏向类案规 范、由问题整治向机制完善深化拓展，不断提升行政执法规范化水平。要通过制定实施《行政执法监督 条例》，强化全方位、全流程监督，进一步厘清执法权责边界，压实规范执法责任，对滥用职权、任性 执法等行为严肃追责问责，使行政权力始终在法治轨道上运行。 会议讨论并原则通过《中华人民共和国国家消防救援人员法（草案）》，决定将草案提请全国人大常委 会审议。会议指出，消防救援人员是人民生命和财产安全的卫士。国家综合性消防救援队伍组建以来， 有效处置一系列重特大事故灾害，受到社会各界普遍赞誉和信赖。要进一步明确消防救援队伍职责纪 律、人员管理、待遇保障等制度安排，提升正规化、专业化、职业化建设水平。要着力增强基层消防救 ● 新华社北京12月5日电 国务院总理李强12月5日主持召开国务院常务会议，研究进一步做好节能降碳工作，听取规范涉企行政 执法专项行动情况汇报并审议通过《行政执法监督条例（草案）》，讨论《中华人民共和国国家消防救 援人员法（草案）》 ...

Group 1 - The meeting emphasized that energy conservation and carbon reduction are crucial for achieving carbon peak and carbon neutrality, and for accelerating the green transformation of development methods [1] - It was highlighted that the administrative law enforcement related to enterprises is essential for optimizing the business environment and stabilizing market expectations, with positive results achieved this year [1] - The meeting called for a focus on key difficulties and long-term systematic treatment in administrative law enforcement, aiming to enhance the standardization level of law enforcement [1] Group 2 - The draft of the "People's Republic of China Fire Rescue Personnel Law" was discussed and approved in principle, emphasizing the importance of fire rescue personnel in safeguarding lives and property [2] - The meeting stressed the need to clarify the responsibilities, management, and treatment of fire rescue teams, aiming to enhance their professional and systematic capabilities [2] - A comprehensive crackdown on illegal tobacco activities was mandated, with a focus on strengthening regulatory enforcement across all aspects of tobacco production and distribution [2]