2月4日，A500ETF基金（512050）低开震荡，午后情绪修复向上。截至13点53分，跌幅收窄至 0.244%。持仓股方面，晶科能源20cm涨停，中集集团、TCL中环、中国东航10cm涨停。昨日该ETF获 得超3.6亿元资金净流入。 东方财富证券表示春季行情未完，小结构需要出现调整切换。相比高波动、高估值的资产，近期结构配 置可延着景气逻辑良好而本轮春季行情以来涨幅还并未极致演绎的板块挖掘，如电子、通信及非银金融 等。重点关注行业方向：电子、保险、传媒、机械设备、通信、化工等。重点关注主题：机器人、无人 驾驶、AI应用等。 （文章来源：每日经济新闻） 中国人民银行2月3日公告，为保持银行体系流动性充裕，2月4日将以固定数量、利率招标、多重价位中 标方式开展8000亿元买断式逆回购操作，期限为3个月（91天）。由于本月有7000亿元3个月期买断式逆 回购到期，因此在开展上述操作后，3个月期买断式逆回购将实现净投放1000亿元。这也是中国人民银 行在连续3个月等量续做3个月期买断式逆回购后，首次加量续做3个月期买断式逆回购。业内分析认 为，2月仍然是信贷投放较为集中的月份，叠加春节前取现因素影响，市场对流动性 ...

本报讯 2月3日，保险测评平台深蓝保发布《保险怎么选不踩坑——用户决策痛点与测评平台价值调研 报告（2026）》（以下简称"报告"）。报告显示，近九成用户对保险持积极态度，但因条款复杂、不会 挑选等障碍遭遇决策难题。同时，85.65%的用户表示愿意参考独立、透明的第三方测评榜单。 决策困境的另一根源在于信息处理层面——用户并非"不想买"，而是"不会选"。报告显示，45.64%的用 户将"不同产品难以直接比较"列为放弃或推迟购买的首要原因，这一比例是第二名的近三倍，远超保费 价格等其他因素。同时，用户也普遍面临条款理解障碍。55.23%的用户认为"条款理解阶段"最容易踩 坑。这些障碍最终转化为真实的"踩坑"经历。近六成受访者有过"购买时没看懂条款、事后才发现限制 多"的经历，超四成"被推荐了不适合自己的产品"。在此背景下，以深蓝保为代表的第三方保险测评为 用户决策提供了重要参考。 深蓝保的持续测评，也清晰地反映出保险市场当前的发展趋势，一是保险产品保证续保周期显著延长； 二是保险产品对特定人群的风险包容度显著增强；三是储蓄型保险需求显著上升。 （文章来源：证券日报） 报告显示，保险需求并非由销售话术"制造"而来 ...

近期，地方两会陆续召开，布局全年发展重点。《金融时报》记者注意到，在今年地方两会 上，"保险"一词出现的频率显著提升，其内涵也在不断拓展：从传统的社会保障补充，逐步深度嵌入社 会治理体系；从聚焦"一老一小"的民生关切，延伸到护航"新业态、低空经济"等产业前沿。 多地2026年"施工图"清晰地表明，保险正成为地方政府完善治理、提升公共服务能力的重要工具， 一张更广泛、更精准、更立体的风险保障网络加速织就。 长护险持续扩面提质 随着我国人口老龄化程度不断加深，如何"体面养老"成为地方两会关注的头等大事。在2026年地方 政府工作报告中，对于长期护理保险的发展规划，已不再是试点探索，而是迈入了制度化建设和全面扩 面的快车道。 全国总工会数据显示，我国新就业形态人员已约8400万人。随着家政服务、互联网营销等新行业的 迅速扩张，如何填补这些"原子化"劳动者的保障缺口，成为代表委员热议的焦点。 浙江省政府工作报告明确提出，提高灵活就业人员、新就业形态人员的参保率；广东省提出巩固提 升失业、工伤保险省级统筹，推进职业伤害保障试点扩围。 在地方两会上，新就业形态人员职业伤害保障（以下简称"职业伤害保障"）试点扩围的呼声尤为 ...

Group 1 - The core viewpoint of the articles highlights the innovative carbon excess loss insurance introduced by PICC Property and Casualty in Fujian, which aims to support high-energy-consuming industries in their green transformation amidst the national "dual carbon" goals [1][2] - The insurance product provides a risk guarantee of 1 million yuan for a key local enterprise, addressing the financial risks associated with carbon emissions exceeding limits due to equipment damage from natural disasters or accidents [1] - Sanming City, as a significant industrial base in Fujian, is actively exploring new paths for ecological priority and green development, particularly in steel, cement, and aluminum smelting industries facing stricter carbon emission controls [1] Group 2 - PICC Property and Casualty has long been involved in the green finance sector, integrating it into its medium- to long-term strategic planning, and has developed a "1+N" policy system for carbon peak and carbon neutrality insurance products [2] - From January to November 2025, the company provided risk protection amounting to 238.6 trillion yuan through green insurance, demonstrating its commitment to supporting comprehensive green transformation in the economy and society [2] - The company has also made strides in the carbon market by developing products like forest insurance and blue carbon transaction property safety insurance, contributing to the enhancement of carbon sequestration capabilities and the healthy development of carbon trading markets [2]

Core Viewpoint - The construction of the Guangdong-Hong Kong-Macao Greater Bay Area is a significant national strategy personally planned and promoted by President Xi Jinping, with China Taiping actively integrating its development into this blueprint and making substantial contributions to the area's financial services [1] Group 1: Strategic Direction - China Taiping has positioned "rooting in Hong Kong and Macao, deepening the Greater Bay Area" as its primary strategic direction during the 14th Five-Year Plan period, aiming to transform the Greater Bay Area into a high-quality development strategic highland [1] - The company is rolling out action plans to support connectivity, public welfare, real economy development, and the prosperity and stability of Hong Kong and Macao [1] Group 2: Cross-Border Financial Innovation - China Taiping has launched innovative cross-border financial products and services, including the first industry-specific insurance for cross-border vehicles, with 39,000 vehicles insured from January to November 2025, marking a 4.9% year-on-year increase [2] - The company introduced the "Hong Kong People Bay Area Pension Taiping Plan," which integrates insurance, pension, and cross-border medical services, winning awards in the Hong Kong insurance industry for 2024 and 2025 [2] Group 3: Support for Major Projects - China Taiping provides insurance services for major infrastructure projects such as the Hong Kong-Zhuhai-Macao Bridge and the Hong Kong Northern Metropolis, while also offering financial support to key transportation enterprises in the Greater Bay Area [3] - The company has established the Guangdong-Macao Traditional Chinese Medicine Science and Technology Industrial Park, with 240 registered enterprises expected by the end of 2025, significantly increasing the overall occupancy rate by over 40 percentage points [3] Group 4: Enhancing Public Welfare - China Taiping is actively involved in building a multi-tiered social security system in the Greater Bay Area, participating in various local welfare projects and providing risk protection for nearly 107,000 residents in Macao, amounting to 856.7 billion Macao Patacas [4] - The company has issued Asia's first dual-risk, dual-trigger catastrophe bond in Hong Kong and is committed to enhancing risk management capabilities in the region [4] - China Taiping aims to continue focusing on its core responsibilities, leveraging cross-border advantages, and fulfilling its role as a central enterprise to contribute to the Greater Bay Area's development as a world-class city cluster [4]

- The report introduces a quantitative model framework for market trend analysis, focusing on five asset style stages: external growth, quality growth, quality dividend, value dividend, and bankruptcy value. The model evaluates assets based on their intrinsic attributes and prioritizes them using the sequence of g > ROE > D, analyzing whether there are "good assets" and whether they are "expensive" [5][8][9] - The model incorporates key factors such as expected growth (gf), actual growth (g), profitability (ROE), high dividend (D), and bankruptcy value (B/P). Each factor is associated with specific market phases, e.g., expected growth is relevant across all phases, while profitability is emphasized during maturity phases [9][12] - The quantitative model has demonstrated strong historical performance, achieving an annualized return of 27.67% since 2009. It has shown consistent excess returns in most years, particularly post-2017, with limited effectiveness in years like 2011, 2012, and 2016 [19][22] - The model's backtesting results for specific years include notable excess returns, such as 51% in 2009, 36% in 2013, and 62% in 2022. However, it also recorded underperformance in years like 2011 (-11%) and 2014 (-4%) [22] - The report details six specific strategies derived from the model, each focusing on different factors: - **Expected Growth Strategy**: Selects industries with the highest analyst-forecasted growth rates. Recent recommendations include sectors like automotive sales, lithium equipment, and tungsten [38][39] - **Actual Growth Strategy**: Focuses on industries with the highest unexpected growth (△g). Current recommendations include photovoltaic equipment, insurance, and coal chemical sectors [40][41] - **Profitability Strategy**: Targets high-ROE industries with low valuations under the PB-ROE framework. Recommended sectors include copper, liquor, and non-dairy beverages [43][44] - **Quality Dividend Strategy**: Utilizes a DP+ROE scoring system to identify industries. Current recommendations include forestry, lithium equipment, and fiberglass [46][47] - **Value Dividend Strategy**: Employs a DP+BP scoring system. Recommended sectors include security, daily chemicals, and buses [49][50] - **Bankruptcy Value Strategy**: Focuses on industries with the lowest PB+SIZE scores. Current recommendations include automotive sales, ceramics, and cotton textiles [53][54]

二、中国平安财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 一、同意中国平安财产保险股份有限公司成安支公司将营业场所变更为：河北省邯郸市成安县青云大街 西侧、朱雀路北侧业玖大厦B座12层1201、1212。 2026年1月27日，邯郸金融监管分局发布批复称，《中国平安财产保险股份有限公司河北分公司关于变 更平安财险成安支公司营业场所的请示》(平保产冀分发〔2025〕165号)收悉。经审核，现批复如下： ...

一、同意英大泰和财产保险股份有限公司河南分公司鹤壁营销服务部将营业场所变更为：河南省鹤壁市 淇滨区兴鹤大街黎源电力经贸有限公司综合楼拐角叁楼。 2026年1月29日，鹤壁金融监管分局发布批复称，《关于变更鹤壁营销服务部营业场所的请示》（英大 财险豫〔2026〕1号）收悉。经审核，现批复如下： 二、英大泰和财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 ...

二、安盛天平财产保险有限公司应按照有关规定及时办理变更及许可证换领事宜。 2026年1月28日，国家金融监督管理总局南阳监管分局发布批复称，《关于安盛天平财产保险有限公司 邓州支公司变更营业场址的请示》(豫安盛天平保发(宛)〔2026〕2号)收悉。经审核，现批复如下： 一、同意安盛天平财产保险有限公司将安盛天平财产保险有限公司邓州支公司营业场所变更为：河南省 南阳市邓州市邓襄路姚巷社区299号北屋。 ...

二、中国太平洋财产保险股份有限公司应按照有关规定及时办理变更及许可证换领事宜。 2026年1月30日，洛阳金融监管分局发布批复称，《关于中国太平洋财产保险股份有限公司洛宁支公司 变更职场地址的请示》(洛太保产〔2026〕01号)收悉。经审核，现批复如下： 一、同意中国太平洋财产保险股份有限公司洛宁支公司将营业场所变更为：河南省洛阳市洛宁县城郊乡 复兴路南(新都汇后100米2楼南侧)。 ...