据金融时报，中投公司董事长张青松在接受采访时表示，中投公司将牢记为国投资的初心使命，积极服 务国家发展大局。发挥好主权财富基金平台优势和中投公司系统合力，稳妥推进国家创业投资引导基金 等重大投资项目落地，积极加大新兴市场国家和区域投资力度，探索在对外投资中助力推动人民币国际 化，服务国家发展大局。着力提升自主投资能力，努力打造一流主权财富基金。公开市场投资着力优化 策略结构和布局，聚焦重点领域加大自营投资力度，不断提升投资管理效能。非公开市场投资大力拓展 行业企业、同业机构等各类合作伙伴，积极搭建合作框架和平台，稳步加大共同投资和直接投资力度， 不断增强对外投资合作的主动权和影响力。 （文章来源：第一财经） ...

【资讯导读】 ·2025年11月，美国贸易逆差飙升至568亿美元，环比激增约95%。当月出口下降3.6%至2921亿美元，进 口则增长5%至3489亿美元，凸显外部需求疲软与内需强劲的失衡。 ·美国政府濒临"停摆"边缘 ·美财政部扩大外汇监控范围 ·美国贸易逆差激增近一倍 ·阿联酋央行批准全球首个央行监管稳定币 【市场资讯】 ·美国国会参议院在关键程序性投票中未能推动已获众议院通过的政府拨款法案，致使联邦政府多个部 门面临1月30日资金耗尽后部分"停摆"的风险。 ·美国财政部将10个经济体列入外汇监控名单，强调正密切关注贸易伙伴是否通过资本管制、宏观审慎 政策或政府投资工具干预汇市，尤其关注为抵御本币贬值而采取的汇率平滑措施。 ·美国总统特朗普宣布将于下周公布美联储下任主席提名人选，并再度抨击现任主席鲍威尔拒绝降息， 称美国利率"高得不可接受"，应降至全球最低水平。 ·全球最大主权财富基金——挪威政府全球养老基金2025年实现投资收益2.36万亿挪威克朗（约2465亿美 元），回报率达15.1%。科技股表现亮眼，英伟达、苹果、微软、Alphabet和亚马逊构成其前五大持 仓，驱动整体业绩飙升。 ·加拿大11月 ...

Core Insights - The Norwegian Sovereign Wealth Fund is projected to achieve an investment return of 2.36 trillion Norwegian Krone (approximately 246.5 billion USD) by 2025, with an annual investment return rate of 15.1% driven by the performance of technology, finance, and basic materials sectors [1][3] Group 1: Fund Performance - The fund's equity investment return rate is expected to be 19.3% by 2025, while fixed income investments are projected to yield 5.4%, and unlisted real estate investments are anticipated to return 4.4%. Unlisted renewable energy infrastructure investments are expected to achieve a return rate of 18.1% [3] - As of the end of 2025, 71.3% of the fund's asset allocation will be in equity investments, with 26.5% allocated to bond products [3] Group 2: Geopolitical Concerns - Recent geopolitical tensions, particularly between the U.S. and Nordic countries, have raised concerns among large investment institutions in the region regarding the risks associated with holding U.S. assets. Some pension funds in Sweden and Denmark have begun selling their U.S. Treasury holdings [3] - The Norwegian Sovereign Wealth Fund's significant allocation of assets in the U.S. has drawn attention, prompting a government-appointed expert group to recommend that the fund prepare for increasing geopolitical instability [3]

日本民众在聆听党首的街头演讲（1月27日，东京丰岛区） 该党代表玉木雄一郎27日在东京都内的JR新桥站前的首次拉票演讲话中，批评了执政党和中 道的食品减税方案。考虑到至今为止党首讨论会上的讨论内容，断言"完全没有充实的内容。 不得不说，简直是突发奇想提出的方案"。 日本的工资涨幅赶不上物价的涨幅，民众正被高物价所困。日本朝野政党针对2月8日投票的 众议院选举，都在竞选纲领中提出降低消费税的主张，但主要政党都没有在竞选纲领上明示 财源…… 日本朝野政党针对2月8日投票的众议院选举，都在竞选纲领中提出降低消费税。降幅、对象 和期间等方法的差异成为争论点。如何确保所需财源仍存在不确定性。日本民众需要在从众 议院解散到投计票的时间为战后最短的短期决战中做出判断。 各党考虑到当前的物价上涨，在竞选纲领中加入了许多家庭经济支援政策。执政党自民党和 日本维新会在竞选纲领中提出，2年内将食品的消费税率降为零。日本首相高市早苗（自民党 总裁）1月26日就实施时间强调称，"作为首相的希望是，如果可能，争取2026年度内实 施"。 高市与维新会代表吉村洋文27日在东京秋叶原出席众议院选举的首次拉票演讲，强调了自己 的"负责任的积极 ...

日本首相高市早苗：将日本央行的ETF持仓、 养老基金和外汇储备结合起来设立主权财富基金并不现 实。 ...

Group 1 - The SENSEX index in India is projected to rise by 9% in 2025, while China's Shanghai Composite Index, which has a higher concentration of tech stocks, is expected to increase by approximately 18%, and South Korea's composite index is forecasted to surge by 75% [2] - Despite a robust Indian economy, overseas funds are shifting focus towards AI and resource stocks, leading to underperformance of the Indian stock market compared to developed and other emerging markets [2][5] - Foreign investors continued to sell Indian stocks into January 2026, with a net sell-off of ₹1.6628 trillion (approximately ¥127.186 billion) in 2025, and an additional net sell of ₹185.8 billion by January 13, 2026 [2] Group 2 - The Indian economy remains strong, with a projected GDP growth of 7.4% for the fiscal year 2025, and an 8.2% year-on-year growth in GDP for the July-September 2025 quarter, significantly exceeding expectations [3] - The decline in sovereign wealth fund investments in India from $20.1 billion in 2024 to $5.7 billion in 2025 represents a staggering 72% drop, with 70% of new investments coming from the Middle East, primarily focused on AI and data centers [5] - The Indian stock market's relative weakness is attributed to a lack of high-tech stocks, with the SENSEX index rising only 9% in 2025 compared to the approximately 13% increase in the Dow Jones Industrial Average and 17% in the S&P 500 [5][6] Group 3 - Investment trends in emerging markets show a divergence, with the Shanghai Composite Index rising by about 18% and South Korea's composite index increasing by 75%, while resource-rich countries like South Africa and Brazil also saw significant index gains [6] - The sentiment among investors is shifting towards markets with better returns, as the view that "it is difficult to profit in the moderately performing Indian stock market" becomes widespread [6] - The positioning of India in the context of global geopolitical changes is increasingly important for overseas investors [6]

格隆汇1月21日｜挪威财政大臣延斯·斯托尔滕贝格表示，挪威规模达2.1万亿美元的主权财富基金目前没 有理由从美国撤回投资。斯托尔滕贝格表示，挪威央行投资管理公司在美国的布局反映了美国市场的规 模。他表示，挪威支持北约盟国在北极问题上加强合作。 ...

Core Viewpoint - The proposed reform by U.S. authorities may require sovereign wealth funds to pay taxes on their investments in the U.S., impacting major investors in the private equity sector [2][3]. Group 1: Proposed Tax Reforms - The IRS plans to amend the tax exemption rules for sovereign wealth funds and certain public pension funds under Section 892 of the Internal Revenue Code, expanding the definition of "commercial activities" [2][3]. - Activities that may trigger tax obligations for sovereign wealth funds include direct lending to companies and involvement in debt restructuring [2][6]. Group 2: Impact on Investment Strategies - The proposed changes could affect how sovereign wealth funds invest in private equity, particularly regarding their ownership stakes in portfolio companies [6][7]. - The definition of "control" will be broadened, potentially leading to tax liabilities for funds that previously enjoyed tax-exempt status [6][7]. Group 3: Market Context and Trends - Global sovereign wealth funds' private credit investments are projected to reach $550 billion by 2025, with direct private equity investments in the U.S. having more than doubled to $73 billion last year [3]. - Approximately one-quarter of private credit assets held by state-owned entities come from direct investments rather than through private market asset management funds [6].

Core Insights - Sovereign wealth funds and public pension investors injected up to $132 billion into the U.S. in 2025, accounting for about half of their total investment from the previous year [1] - Investment in large emerging markets decreased by nearly one-third compared to 2024 [1] - The total asset management scale of these large investment institutions and central banks reached a historic record of $60 trillion last year, with sovereign wealth funds contributing two-thirds of the total investment flowing into the U.S. [1] Investment Trends - The report by Global SWF indicates a paradigm shift in the choice of investment destinations, with the U.S. benefiting from its focus on digital infrastructure, data centers, and artificial intelligence companies [1] - Sovereign wealth funds alone reached a record asset size of $15 trillion, with total investments increasing by 35% year-on-year to $179.3 billion [1]

Core Insights - Sovereign wealth funds and public pension fund investors injected up to $132 billion into the U.S. in 2025, accounting for about half of their total investment from the previous year [1] - Investment in large emerging markets decreased by nearly one-third compared to 2024 [1] - The total asset management scale of these large investment institutions and central banks reached a historic record of $60 trillion last year, with sovereign wealth funds contributing two-thirds of the total investment flowing into the U.S. [1] Investment Trends - The report from Global SWF indicates a paradigm shift in the choice of investment destinations, with the U.S. benefiting from its focus on digital infrastructure, data centers, and artificial intelligence companies [1] - Sovereign wealth funds alone reached a record asset size of $15 trillion, with total investments increasing by 35% year-on-year to $179.3 billion [1]