中粮资本公告称，因工作调整，姜正华不再担任公司副总经理、董事会秘书等职务，其未持有公司股 份。2025年12月23日，公司第六届董事会第五次会议同意聘任副总经理、总法律顾问蹇侠为董事会秘 书，任期至第六届董事会换届。蹇侠曾于2021 - 2023年任公司董秘，目前未持股，无关联关系及违规情 形，任职资格获深交所备案通过。 ...

Group 1 - The core viewpoint is that the historical "Santa Claus Rally" effect on Wall Street is seen as a last hope for market bulls, especially as Bitcoin faces significant challenges in Q4 2025 [1][3] - Traditional financial market seasonal trends can inject much-needed liquidity and confidence into the digital asset market [1][3] Group 2 - The S&P 500 index has a high probability of rising during the last five trading days of the year into the new year, with a win rate of 75% and an average return of 0.58% since 2005 [5] - Given the S&P 500's underperformance in the past two Christmas cycles, the likelihood of a mean reversion and rebound this year is significantly increased [5] - The correlation between digital assets and traditional equity assets is strengthening as institutional funds increasingly engage through ETFs [5] - If the holiday buying in the U.S. stock market occurs as expected, bullish sentiment is likely to spill over into the cryptocurrency sector [5] - Bitcoin's average increase of 7.9% during the Christmas period indicates its potential for explosive growth, despite varied performances in previous years [5] Group 3 - Gold is highlighted as a benchmark for safe-haven and anti-inflation assets, showing particularly strong performance at year-end [6] - Since 2005, gold has demonstrated impressive cumulative returns during the Christmas period, currently priced at $4,400 per ounce [6] - Bitcoin, trading at a 30% discount compared to its peak, is viewed as having significant upside potential in the context of rising traditional financial assets [6] - Investors are advised to consider the synergistic effects of asset allocation during the year-end period [6]

Core Viewpoint - The Shanghai Clearing House has announced a continuation of the phase-based exemption of clearing fees for financial institutions providing RMB foreign exchange derivative trading services to small and micro enterprises, effective from December 1, 2025, to November 30, 2027 [1] Group 1 - Financial institutions will be fully exempt from clearing fees based on their trading volume and the proportion of RMB foreign exchange derivatives included in central counterparty clearing [1] - The exempted RMB foreign exchange derivative transactions include forwards, swaps, and options (including combinations), specifically for the RMB/USD currency pair [1] - The relevant trading information will be provided by the Foreign Exchange Trading Center to the Shanghai Clearing House [1]

2025年12月23日，全球金融市场见证历史，黄金价格如同脱缰野马，一举突破4500美元大关，最高触及4497美元，单日暴涨超过100美元。这场疯狂的上涨 背后，是三个地缘政治火药桶同时冒烟：美国对委内瑞拉发出最后通牒，俄罗斯紧急撤离外交官家属，中东战云密布，俄乌冲突持续升级。 特朗普在海湖庄园与国家安全团队紧急会晤后，宣布将对委内瑞拉实施全面封锁，授权扣押任何驶往委内瑞拉的油轮。 他警告马杜罗："这是最后机 会。"委内瑞拉外长随即召开新闻发布会，谴责美国的行为是"海盗行径"，并揭露美国在加勒比地区的武装行动已造成104人死亡，400万桶原油运输中断。 俄罗斯开始紧急撤离驻委内瑞拉外交官的家属，欧洲情报官员透露，撤离行动已于上周五启动，包括妇女和儿童在内的多名人员正被转移出境。俄罗斯外交 部以"非常严峻的语气"评估当前局势，这一动作通常被视为军事冲突即将爆发的前兆。 与此同时，中东火药桶再次冒烟，以色列向美国通报，伊朗可能正在准备对以色列发动袭击。以色列总理内塔尼亚胡公开警告，如果伊朗攻击以色列，将遭 到"非常猛烈的回应"。尽管美国情报机构尚未发现明确迹象，但这一潜在冲突的风险已让全球投资者神经紧绷。 东欧战 ...

Core Viewpoint - The recent surge in gold prices, reaching a historical high of $4,490 per ounce, is attributed to a combination of geopolitical tensions, monetary easing expectations, and a structural shift in gold investment paradigms, indicating a significant revaluation of gold's worth over decades [1][3][24]. Geopolitical Tensions - The rise in gold prices is closely linked to escalating geopolitical tensions, particularly the conflict between Thailand and Cambodia, and the situation in Venezuela, where U.S. military actions have raised concerns about energy security and potential market disruptions [4][5][6]. - Ongoing conflicts, such as the Russia-Ukraine war, contribute to persistent geopolitical risks, increasing demand for gold as a safe-haven asset [7]. Monetary Easing - The macroeconomic environment is characterized by expectations of interest rate cuts and a weakening dollar, with U.S. inflation rates declining and unemployment rates remaining relatively high [8][9]. - The transition of U.S. monetary policy from tightening to easing is seen as a key driver of the current gold bull market, supported by falling inflation and rising concerns over the long-term purchasing power of fiat currencies [10][11]. Central Bank Gold Purchases - Central banks have significantly increased their gold purchases, with global central banks net buying gold for 14 consecutive quarters, reflecting a structural demand for gold as a strategic asset [12][13]. - The recent data shows that China's gold reserves have increased, and global gold ETF inflows have reached record levels, indicating strong institutional interest in gold [15][12]. New Investment Paradigm - The investment landscape for gold is shifting, with a growing recognition of its role as a hedge against extreme monetary and geopolitical risks, moving from a cyclical to a strategic asset [19][20][22]. - Major financial institutions have raised their long-term gold price forecasts, reflecting a broader market re-evaluation of gold's value in the context of global debt and currency dynamics [23]. Conclusion - The current gold market dynamics are driven by a confluence of factors including concerns over monetary credit, strategic central bank allocations, the onset of a rate-cutting cycle, and geopolitical conflicts, indicating profound changes in the global macroeconomic and financial landscape [24][25].

Group 1 - The Morgan Stanley Capital International Asia Pacific Index has risen by 27% this year, marking the first time since 2020 that Asian markets have outperformed both US and European benchmarks in the same year [1][3] - The strong performance of Asian markets reflects an increasing attractiveness for investors seeking higher growth as the economies in Europe and the US slow down [3][4] - The broad-based rally includes double-digit gains in stock markets across Japan, South Korea, Taiwan, and mainland China, with South Korea's Kospi index surging by 71%, making it one of the best-performing major markets globally [3][4] Group 2 - In China, the stock market is experiencing its strongest year since 2020, driven by the AI boom, which has rekindled investor interest in the tech sector [4] - The optimism surrounding emerging markets, particularly in China, is bolstered by a renewed focus on technology stocks, with expectations for continued growth through 2026 [4][5] - Despite potential risks such as a strengthening dollar and signs of crowded trading in AI-related stocks, the overall trend in the region is viewed as the beginning of a long-term valuation re-rating cycle [4][5] Group 3 - The weakening dollar has enhanced the attractiveness of Asian assets for dollar-based investors, with most Asian currencies also appreciating [6] - The offshore Chinese yuan is nearing its highest level in over a year, while the Australian and New Zealand dollars have risen due to expectations of tightening monetary policy [6] - The Asian dollar-denominated investment-grade bond index has outperformed its US counterpart and is on track for its largest annual gain since 2019, supported by strong fundamentals and a controlled level of bond issuance [6][8]

Group 1 - International gold prices continue to rise, with gold priced in RMB reaching a new high, surpassing 1400 yuan per gram on December 23 [1] - On December 23, spot gold in London approached 4490 USD per ounce, breaking the previous high of 4381 USD per ounce from late October. Shanghai's spot gold price also hit a record of 1014 yuan per gram [2] - Year-to-date, international spot gold has increased by over 70%, while gold priced in RMB has risen by more than 64% [2] Group 2 - Silver prices are also experiencing a strong upward trend due to factors such as the Federal Reserve's interest rate cuts, supply shortages, and increased investment and industrial demand. As of December 22, silver futures closed at 68.565 USD per ounce, with a rise of 1.59% [6] - JPMorgan's 2026 gold market outlook report suggests that the gold market may continue its upward momentum due to strong driving factors [6] - Market analysts expect that silver demand will continue to grow through 2026 [6]

Core Insights - The report released by the Financial Regulatory Administration's Consumer Protection Center aims to assess the financial literacy of consumers in China, with a focus on enhancing financial education and outreach efforts [1] Group 1: Financial Literacy Index - The national consumer financial literacy index for 2025 is reported at 67.61 [2] - Financial skills average score is 69.30, financial attitudes average score is 70.62, financial behaviors average score is 54.28, and financial knowledge average score is 76.25 [2] Group 2: Age Demographics - Financial literacy shows a "U" shaped distribution, peaking in the 30-39 age group, while the elderly population (60 years and above) represents a weak segment [2] - There is a need for enhanced "age-friendly" financial services to address the challenges faced by the elderly, including the "digital divide" and "cognitive gap" [2] Group 3: Financial Skills and Attitudes - Consumers demonstrate good capabilities in handling basic financial matters but need to learn new skills to adapt to a more digital and complex financial environment [2] - The overall financial attitudes indicate a healthy and prudent financial perspective, with a strong willingness to learn and improve financial skills [2] Group 4: Financial Behavior - Consumers exhibit stable financial behaviors, but there is room for improvement in the diversification of financial tools and asset allocation strategies [3] - The report highlights that consumers are generally cautious in their financial activities, including debt management and asset holdings [3] Group 5: Financial Knowledge - Consumers have a good grasp of basic financial knowledge but show weaknesses in understanding complex concepts that require deep comprehension or involve intricate calculations [3] - Knowledge areas assessed include digital currency, inflation, risk-return, insurance claims, credit ratings, and illegal fundraising [3] Group 6: Consumer Complaint Handling - The most common methods for consumers to handle disputes regarding financial products or services include complaints through financial institution hotlines (73.28%) and in-person complaints at financial institution branches (63.90%) [3] - Other complaint channels include various consumer protection hotlines and direct complaints to relevant authorities [3]

Group 1 - The core issue revolves around the EU's proposal to use approximately €210 billion of frozen Russian central bank assets as collateral to provide financing to Ukraine, aiming to alleviate budget pressures while maintaining support for Ukraine [2][3] - EU Commission President Ursula von der Leyen emphasized the necessity of this plan for Ukraine's survival and European security, expressing concerns about potential Russian countermeasures that could destabilize European financial stability [2][3] - Hungarian Prime Minister Viktor Orbán stated that Hungary and several member states oppose the plan, stressing the importance of EU neutrality and the need for close communication among member states [3][4] Group 2 - There is a growing divergence between the US and the EU regarding the use of frozen Russian assets, with the US favoring the use of these assets for its own reconstruction efforts in Ukraine, while the EU aims to keep the benefits internal [3][4] - The EU's strategy appears to be focused on binding member states' positions, avoiding legal risks, and transferring the burden of aid through the "using Russian assets for Ukraine" plan, which has faced legal and moral controversies [4][5] - The internal divisions within the EU are hindering the progress of the financing plan, as some member states have clearly opposed the initiative, highlighting the challenges of finding alternative aid routes without relying on Russian assets [5]

粮企业融资常陷"手续繁、审批慢、成本高"的困境，平安融易打破传统服务模式，让金融服务更省心。 淮安分公司咨询顾问主动深入田间地头与加工车间，精准筛选行业需求开展乡间展业服务，省去企业四 处奔波求助的烦恼。颜女士经营粮食加工公司急需资金周转，咨询顾问小孙在展业中获知其有融资需求 后，迅速对接，结合其房产、寿险保单及企业纳税资质，精准匹配无抵押融资产品"优票贷"，全程专业 指导，让客户无需反复沟通补充材料，全程快速融资安心无忧。 依托科技赋能，平安融易让融资服务更省时。通过智能风控系统快速核验客户资质，整合多维数据高效 评估信用状况，大幅压缩审批时间，实现融资需求快速响应。针对颜女士的资金需求，系统迅速完成资 质审核并给出50万元授信额度，从需求对接至额度审批全程高效衔接，无需漫长等待，及时填补资金缺 口，助力企业抢抓粮食收购关键期，避免错过经营良机。 遍地金黄的田野里孕育着丰收的喜悦，可集中上市的粮食也让众多涉粮企业面临资金周转的紧迫难题。 作为普惠金融的践行者，平安融易始终坚守责任担当，以"省心、省时、又省钱"的三省服务理念为核 心，深耕农业产业融资领域，用精准高效的金融服务为涉农企业保驾护航，筑牢粮食市场稳 ...