智通财经APP讯，新百利融资(08439)发布公告，于2026年2月25日，该公司斥资3.71万港元回购10.6万 股。 该信息由智通财经网提供 ...

二是2025年10月5000亿元新型政策性金融工具投放完毕，加之2026年1月央行结构性货币政策工具降 息、加量、扩围，会带动今年一季度信贷较大规模投放，以上都会在一定程度上带来资金面收紧效应。 由此，央行2月加量续作MLF，延续较大规模中期流动性净投放，能够有效应对潜在的流动性收紧态 势，引导资金面处于较为稳定的充裕状态。这在助力政府债券发行、引导银行稳固信贷支持力度的同 时，也在释放数量型政策工具持续加力信号，显示货币政策延续支持性立场。 开年以来，更加积极的财政政策靠前发力，国债、地方政府专项债券等政府债券发行进一步提速。1月 政府债券融资增量在全部社会融资规模中的占比达到13.5%，为2021年以来同期最高水平。央行保持市 场流动性充裕，将支持政府债券顺利高效发行。 2月25日，人民银行在公开市场上以固定数量、利率招标、多重价位中标方式开展6000亿元中期借款便 利（MLF）操作，期限为1年期。 当日，央行还以固定利率、数量招标方式开展了4095亿元7天期逆回购操作，操作利率为1.4%。因今日 有4000亿元逆回购、3000亿元MLF到期，叠加央行开展的6000亿元MLF操作，公开市场实现净投放 30 ...

昨天，美股又大跌了，道琼斯跌了800多点，全市场只有27%的股票收涨。 时间来到2028 年 6 月 30 日。 失业率10.2%，高于预期 0.3 个百分点。数据公布后，市场下跌 2%，标普 500 较 2026 年 10 月高点回撤 38%。六个月前，这样的数据会触发熔断。但今天，交易员已经麻木了。 其中，软件股跌得最狠。科技软件ETF（IGV）创下了52周新低，当日下跌5%，年初至今已经跌了近 30%，把ChatGPT发布以来的涨幅都跌没了。 此外，DoorDash跌了7%，MongoDB跌了6%。金融行业也跌了不少，美国运通、KKR、黑石都跌超 8%。 而触发这场抛售的，是一篇Substack上的一篇名为《2028全球智能危机》文章。 文章构建了一个情境：到2028 年，AI 的发展速度远超预期。企业利润因自动化提升而走高，但白领岗 位被替代，工资与消费承压。 需求端走弱，冲击 SaaS 模式与中介型商业，支付与信贷体系出现连锁反应，最终形成经济负反馈螺 旋，而现有政策与制度无法及时调整。 这篇文章之所以引发市场共振，并非因为写的有多好，而在于它捕捉到了当下AI行业微妙的情绪变 化。 在长期"AI 提 ...

（来源：中国消费者报） 本报讯（记者聂国春）近日，金融监管总局、中央网信办、公安部、中国人民银行、中国证监会联合发 布风险提示，提醒广大群众警惕不法代理维权侵害，依法理性维权。 二是谎称金融机构有活动。此类短视频、直播宣称金融机构开展全额退保、延期还款、全民清债等活 动，号称"退保通道已打开""欠银行的钱可先不还，各大行已开通延迟还款通道"，同时配以金融机构营 业场所场景、企业标识等以渲染真实性。 三是宣称专业律师维权。此类短视频、直播常冠以"专业法律咨询""律师事务所"等名义，以普及法律知 识为幌子向金融消费者、投资者传递保险业务员代签名即可获取全额退保、可以帮忙与银行协商减免债 务、征信申诉成功等误导信息，以及"6天时间拿回5000元机构退费，手把手指导退费全流程"等虚假案 例，公开传授全额退保、反催收、征信逾期申诉维权技巧，伺机推介代理维权服务并收取高额费用。 四是其他煽动性话术。此类短视频、直播通过"血本无归""A股股灾"等话术以及投资者亏损案例进行诱 导营销宣传，通过煽动性文案吸引投资者主动联系代理维权机构。 五部门提示称，全额退保、贷款/信用卡不用还、债务协商、债务置换、征信洗白、投顾费用全退等均 ...

东方金诚研究发展部高级副总监瞿瑞认为，这主要源于美国关税风波再起、贸易政策不确定性加剧，以 及美国与伊朗地缘政治风险升级带来的避险需求集中爆发，多重因素共同推动金价大幅上扬。 金鹏期货总经理喻猛国表示："美国最高法院裁定此前关税违法，本质上是政策与法律之间的冲突，直 接加剧了市场对美国财政状况及美元信用的担忧。避险情绪升温后，黄金、白银等贵金属往往走强。虽 然美国又推出了新关税，但其法律基础同样存在不确定性，政策反复只会进一步抬升不确定性。再加上 可能涉及上千亿美元关税退款，也会推升通胀预期，对黄金这类兼具抗通胀与避险属性的资产构成明显 利好，因此金银有望重新回到上升趋势。" 此次裁决还引发了规模可观的税收退款问题。宾夕法尼亚大学相关预测模型经济学家估算，超过1750亿 美元的关税收入面临退款风险。 美国一系列关税政策变动，引发全球市场高度关注。 美国海关与边境保护局（CBP）日前表示，将自美国东部时间2月24日起停止征收依据《国际紧急经济 权力法》（IEEPA）开征的关税。此前，2月20日，美国最高法院裁定，依据IEEPA加征的"对等关税"及 芬太尼关税违法。 但同样在2月20日，美国总统特朗普在最高法院裁 ...

值得注意的是，亚博科技控股发布公告，公司附属公司TGX与香港黄金交易所有限公司订立技术服务 协议。根据该协议，TGX须为香港黄金交易所、其用户及其他客户设计、开发、营运及维护一个安全 及稳定的电子交易、清算和结算、以及相关服务平台(核心平台)，并提供相关技术咨询、系统支援及创 新服务。 消息面上，香港特区政府财经事务及库务局副局长陈浩濂在香港黄金交易所农历年黄金启市日暨2026年 新春开市仪式上表示，为进一步多元发展香港的国际金融业务，特区政府正全力推动香港成为国际黄金 交易中心。陈浩濂说，将以三年超越2000吨为拓展在港黄金仓储的目标，打造香港成为区域黄金储备枢 纽。在推动大宗商品交易方面，目前已有15个伦敦金属交易所认可的仓库在香港营运。港交所也会深化 与广州期货交易所及内地其他大宗商品市场的联通发展。 亚博科技控股(08279)再涨超30%，节后股价已实现翻倍。截至发稿，涨27.63%，报0.485港元，成交额 3072.86万港元。 ...

Core Viewpoint - The article discusses the potential risks associated with the rapid advancement of AI technology, suggesting that the optimism surrounding AI may signal a bear market rather than economic growth. It highlights the disconnect between GDP growth driven by AI and the actual economic benefits experienced by the general population [5][45]. Group 1: Market Reaction - On February 23, 2026, the U.S. stock market experienced a significant drop, with the Dow Jones falling over 800 points and only 27% of stocks rising [5]. - Major companies like DoorDash, MongoDB, ServiceNow, and Salesforce saw declines of 7%, 6%, and 4% respectively, while financial firms like American Express and KKR dropped over 8% [5]. Group 2: Economic Implications of AI - The article introduces the concept of "Ghost GDP," where economic output increases without benefiting the average person, as AI-driven productivity bypasses human consumption [7][25]. - A negative feedback loop is described, where AI advancements lead to layoffs, which in turn drive further investment in AI, perpetuating job losses without a self-correcting mechanism [9][10]. Group 3: Corporate Behavior - Companies threatened by AI, such as ServiceNow, are becoming aggressive adopters of AI technologies, often resulting in significant layoffs to fund these investments [12][19]. - The article notes that traditional companies are rapidly embracing AI due to the immediate threats they face, contrasting with past scenarios where new entrants disrupted established firms [19][20]. Group 4: Consumer Spending Dynamics - The article emphasizes that machines do not spend money, which poses a risk to the consumer-driven economy, as 70% of U.S. GDP is derived from human consumption [25]. - The impact of white-collar job losses on consumer spending is highlighted, noting that the affluent contribute significantly to overall consumption, and their job losses could lead to a substantial decline in spending [29][30]. Group 5: Financial Sector Risks - The growth of private credit in the U.S. has led to increased funding for software companies, which may face revenue declines as AI replaces traditional roles [30][31]. - The article warns that even high-quality mortgage loans may become problematic as borrowers lose jobs or face salary reductions due to AI advancements [33][34]. Group 6: Policy Limitations - Traditional monetary policy tools, such as interest rate cuts, may not effectively address the structural unemployment caused by AI advancements [36][38]. - The article argues that existing economic frameworks are based on the assumption of human labor scarcity, which is being challenged by AI's capabilities [40][41].

Core Insights - The Supreme People's Court emphasizes the importance of prudent management of major risks in key areas, including the establishment of bankruptcy courts and improvement of bankruptcy trial mechanisms [1][2] Group 1: Bankruptcy Case Statistics - In 2025, courts nationwide accepted 44,936 bankruptcy applications, a year-on-year increase of 7.31% [1] - The number of bankruptcy liquidation, reorganization, and reconciliation cases reached 36,900, up 18.00% year-on-year, with 31,900 cases concluded, reflecting a 5.07% increase [1] - Cumulatively, bankruptcy trials resolved debts of approximately 4 trillion yuan, revitalized assets worth 1.16 trillion yuan, and stabilized over 120,000 jobs [1] Group 2: Regional Focus and Coordination - Jiangsu, Zhejiang, and Guangdong provinces accounted for 61.94% of the total bankruptcy cases, positioning them as core areas for bankruptcy trial services [1] - Courts are implementing a dual approach of "clearing and saving," promoting the orderly exit of backward production capacity and facilitating local economic transformation [1][2] - The Supreme Court has established a coordination mechanism with the National Taxation Administration to clarify tax-related issues in bankruptcy procedures, enhancing the efficiency of case handling [2] Group 3: Government and Court Collaboration - Local courts are actively engaging with government departments and social organizations to address legal issues and ensure social stability during bankruptcy proceedings [2][3] - A comprehensive system has been developed in several provinces to assist distressed enterprises, involving collaboration across various departments [3] - The establishment of specialized bankruptcy management offices and restructuring service centers is being explored to provide integrated support for enterprises throughout their lifecycle [3][4] Group 4: Personal Bankruptcy and Cross-Border Cooperation - The Supreme People's Court is cautiously advancing personal bankruptcy and natural person debt relief initiatives [3][4] - There is a focus on developing cross-border bankruptcy cooperation and rules, with specific guidelines issued for handling commercial disputes involving Hong Kong and Macau [4]

【环球网财经综合报道】据Fortune等外媒报道，穆迪分析公司首席经济学家Mark Zandi公开表示，当前美国金融市场 与实体经济日益脱节，市场过热可能对本已疲软的经济构成威胁。 美国商务部最新数据显示，2025年第四季度美国实际GDP增速放缓至1.4%，低于上一季度的4.4%，也低于美国经济约 2.5%的潜在增速，增长动能不足。就业市场同样呈现矛盾态势，失业率小幅回落、单月新增就业超预期，但2025年修 正就业数据显示，全年就业增长几乎停滞。 与经济降温形成对比，金融市场持续走高。受前期回报、降息预期与人工智能热潮推动，机构对2026年资产市场保持 乐观，高盛预计标普500指数年内将上涨12%。 Zandi警告，这种脱节蕴藏风险。当前市场估值偏高、投机活动升温，一旦股市因高估值无法兑现出现调整，高收入群 体消费可能大幅收缩。数据显示，美国收入最高10%人群消费占比约一半，消费下滑将传导至企业投资，进而拖累经 济。他同时表示，市场正积累抛售因素，投资者行为更多受价格上涨预期驱动，而非基本面支撑。 此外，科技巨头市值高度集中，五大科技企业占标普500市值比重约30%，相关投资高度依赖未来回报兑现。Zandi认 ...

Core Viewpoint - The Futian District of Shenzhen has declared 2026 as the "Internationalization Construction Year" in preparation for the APEC meeting, launching a series of measures to enhance its international profile and infrastructure [1][2]. Group 1: Internationalization Initiatives - The "No. 1 Document" outlines the "Internationalization Construction Year" action plan, focusing on creating a world-class urban environment and enhancing international cooperation [2][3]. - The action plan includes 105 specific measures across 21 areas, aimed at improving infrastructure, services, and industry development to facilitate international visitors [3]. Group 2: Infrastructure and Services - Futian will implement a bilingual signage system and develop AI translation products to enhance communication for international visitors, aiming to deploy over 3,000 translation devices [3]. - The district plans to create high-quality visiting routes that showcase its international image, integrating key resources in technology and landscape [3]. Group 3: Foreign Investment and Economic Development - The "Hui Fu Project" will attract multinational company headquarters and R&D centers, offering services to foreign enterprises to establish connections with APEC economies [4]. - The district has published an APEC knowledge manual and a multilingual map to assist visitors in navigating local amenities [4]. Group 4: Strategic Development Engines - Futian aims to develop three new engines: the Xiangmi Lake New Financial Center, the He Tao Shenzhen-Hong Kong Technology Innovation Cooperation Zone, and the Central Park Vitality Circle, to serve as platforms for APEC outcomes [5][6]. - The Xiangmi Lake New Financial Center will integrate finance, technology, culture, and consumption, while the He Tao zone will enhance collaboration with Hong Kong and attract top-tier innovation resources [6].