（原标题：世界银行报告显示，越南金融服务业在亚洲排名第五） 《越南经济》1月13日报道，根据世界银行最近发布的《2025年营商环境成熟度报告》，越南金融 服务业得分为80.32分（满分100分），在亚洲30个经济体中排名第五，在全球排名第十五。 金融服务主题从三个不同的维度衡量商业贷款、担保交易、电子支付以及信用信息。第一维度评估 商业贷款、担保交易和电子支付相关监管的有效性，越南今年的得分提高了34分，达到75.4分（满分 100分），在全球101个国家中排名第49位。第二维度评估征信机构、登记机构和抵押品登记机构的运作 情况，衡量信贷基础设施信息的可及性，越南得分85.33分，较去年提高46.17分，在全球排名第16位。 第三维度衡量贷款获取、担保权益登记、信用信息共享的及时性以及电子支付的使用情况和效率。在这 一指标上，越南得分为80.23分，位列全球第18位。 ...

Core Insights - Beijing CBD has established itself as a significant international business district, ranking sixth globally and second in Asia during the "14th Five-Year Plan" period [1][2] Economic Contribution - The tax revenue from Beijing CBD accounts for over 60% of the total tax revenue in Chaoyang District during the "14th Five-Year Plan" [2] - There are over 140 buildings in the CBD generating tax revenues exceeding 100 million yuan, with one building surpassing 1 billion yuan, three buildings over 500 million yuan, and 20 buildings over 100 million yuan [2] Internationalization and Competitiveness - The CBD hosts more than 10,000 foreign enterprises and 125 regional headquarters of multinational companies, along with nearly 300 foreign-licensed financial institutions, representing about 80% of the district [2] - The area has achieved a card consumption amount exceeding 120 billion yuan for three consecutive years, maintaining its position as the top consumer area in the city [2] - Beijing CBD has been recognized as the top consumer competitive business district in China by Forbes for three consecutive years and is set to be included in the top tier of the world-class business district list by 2025 [2] Future Development Plans - The CBD aims to drive high-quality development through high-level openness, focusing on becoming an "International Consumption Central Vitality Zone" [2] - Plans include upgrading consumption formats, enhancing the introduction of international brands, and creating unique consumption landmarks by 2026 [2] - The introduction of tax refund services and cultural IP activities is intended to optimize the consumption environment, aiming for a vibrant city core that operates 24/7 [2] Legal and Financial Integration - The establishment of the "Beijing International Law and Business Integration Demonstration Zone" is underway, leveraging the CBD's legal and business service foundation [3] - The zone aims to create a rule system aligned with international standards and enhance cross-border service capabilities through a comprehensive service center [3] - Future initiatives will include pressure testing in areas such as commercial arbitration and intellectual property, as well as pilot programs for joint ventures between domestic and foreign law firms [3] Financial Sector Development - The CBD will also develop a new quality productivity integration demonstration area to attract platform headquarters and leading industry enterprises [3] - Plans are in place to establish an international financial hub to draw significant financial institutions and enhance financial services for the real economy [3]

Core Viewpoint - The U.S. employment situation is somewhat unclear, and there are ongoing inflation concerns, leading to an increased probability that the Federal Reserve will remain inactive at least until March [1] Group 1: Federal Reserve Outlook - The likelihood of the Federal Reserve maintaining its current stance increases as each meeting passes without action [1] - Market beliefs regarding the Federal Reserve's inaction, regardless of whether the probability is 5%, 10%, or 20%, indicate that these trades are considered inexpensive [1] - For disciplined risk managers, there is a demand for these trades due to their perceived value [1]

Group 1 - The core viewpoint of the article is that Emperor Capital (00717.HK) reported a total revenue of HKD 730 million for the fiscal year ending December 18, 2025, representing a year-on-year growth of 37.3% [1]

Core Viewpoint - The article provides a comprehensive investment calendar for 2026, detailing important economic data release dates and significant meetings to assist investors in navigating the investment landscape effectively [1]. Economic Data Release Schedule - The calendar includes key economic indicators such as GDP reports, LPR quotes, and PPI/CPI data for both China and the United States, with specific dates highlighted for each release [3][4][6]. - Important dates include the release of China's economic annual report in December 2025 and the quarterly GDP reports for 2025 [3][4]. Significant Meetings and Events - The calendar outlines major meetings such as the Federal Open Market Committee (FOMC) meetings in the U.S. and the National People's Congress in China, which are crucial for understanding policy directions [8][10][11]. - Events like the Berkshire Hathaway annual shareholder meeting and the World Internet Conference are also noted, indicating their potential impact on market sentiment [20][40]. Market Observations - The article emphasizes the importance of monitoring the performance of public funds and the disclosure deadlines for annual and quarterly reports, which can influence investment decisions [12][14][15]. - It highlights the significance of the MSCI index adjustments and the implications for market dynamics [10][20]. Seasonal and Holiday Considerations - The calendar notes holiday breaks for A-shares, U.S. stocks, and Hong Kong stocks, which can affect trading volumes and market activity during those periods [4][8][19]. - It also mentions the impact of major events like the Chinese New Year and the Jackson Hole Economic Symposium on market behavior [27][28].

1月14日，央行官网发布公告称，为保持银行体系流动性充裕，2026年1月15日，中国人民银行将以固定 数量、利率招标、多重价位中标方式开展9000亿元买断式逆回购操作，期限为6个月（181天）。 数据显示，1月有6000亿6个月期买断式逆回购到期。由此，央行1月15日开展9000亿元买断式逆回购操 作，意味着当月6个月期买断式逆回购加量续作，加量规模3000亿元，为6个月期买断式逆回购连续第五 个月加量续作，加量规模较上月增加1000亿元。 值得注意的是，受稳增长政策发力显效及外需韧性较强等带动，2025年12月官方制造业PMI指数大幅回 升至扩张区间，短期内逆周期调节政策加码需求或有所下降，加之1月央行仍在通过买断式逆回购向市 场注入中期流动性，央行降准预期也可能相应推迟。 图片来源：IC photo 来源：北京日报客户端 记者：潘福达 东方金诚首席宏观分析师王青认为，央行此次操作背后的主要原因在于，为保障重点领域重大项目资金 需求，巩固拓展经济回升向好势头，2026年新增地方政府债务限额已提前下达，这意味着2026年1月会 有一定规模的政府债券开闸发行。另外，2025年10月5000亿元新型政策性金融工具 ...

【导读】央行将开展9000亿元买断式逆回购操作 东方金诚首席宏观分析师王青指出，1月两个期限品种的买断式逆回购合计加量续作3000亿元，加量规模较上月增加1000亿元，为央行连续第8个月通过买 断式逆回购向市场注入中期流动性。 他分析主要原因有二：一是为保障重点领域重大项目资金需求，巩固拓展经济回升向好势头，2026年新增地方政府债务限额已提前下达，意味着2026年1 月会有一定规模的政府债券开闸发行；二是2025年10月5000亿元新型政策性金融工具投放完毕后，还会继续带动今年1月配套贷款较大规模投放，放大信 贷"开门红"效应。 "着眼于应对潜在的流动性收紧态势，央行通过买断式逆回购向银行体系注入中期流动性，能够引导资金面处于较为稳定的充裕状态。"王青表示，这在助 力政府债券发行，引导金融机构加大货币信贷投放力度的同时，也在释放数量型政策工具持续加力的信号，显示货币政策延续支持性立场。 展望后续，王青认为，1月央行会综合运用买断式逆回购、MLF两项政策工具，持续向市场注入中期流动性。这是2026年货币政策延续"适度宽松"基调、 保持流动性充裕的具体体现。不过，1月中期流动性加量规模也可能延续2025年12月 ...

Core Viewpoint - Silver has emerged as a strong investment opportunity in early 2026, with significant price increases and investor profits, particularly highlighted by the performance of companies like Qifu Life Services [1][6]. Group 1: Silver Price Performance - As of January 14, 2026, the spot silver price reached a high of $91.531 per ounce, breaking through key resistance levels of $90 and $91 [1]. - Year-to-date, silver has seen a maximum increase of 28%, and since 2025, the total increase exceeds 210% [1][6]. - The price surge is attributed to changing market dynamics and expectations of earlier interest rate cuts by the Federal Reserve, following a reported 2.7% year-on-year increase in the U.S. Consumer Price Index (CPI) for December 2025 [6]. Group 2: Company Investment Activities - Qifu Life Services announced the completion of transactions involving 40,000 ounces of silver, generating a profit of approximately 1.43 billion yuan, and subsequently sold an additional 28,000 ounces for about 1.62 billion yuan, with an average selling price of 577.5 yuan per ounce [3][4]. - The company began its silver investment in 2020, purchasing 800,000 ounces at an average cost of 128.75 yuan per ounce, and has strategically managed its holdings to realize profits despite earlier losses [3][4]. - Following the recent sales, Qifu Life Services reported a net profit of 2.47 billion yuan from its silver investments, indicating a successful exit strategy amid rising prices [4]. Group 3: Market Outlook and New Products - Citigroup forecasts that silver prices could reach $100 per ounce within the next three months, driven by strong demand and market conditions [6]. - The Chicago Mercantile Exchange (CME) plans to launch a new 100-ounce silver futures contract on February 9, 2026, to cater to increasing retail demand and provide easier access to the silver market [7][8]. - The new contract aims to enhance market participation by allowing traders to control larger positions with lower capital requirements, thus improving liquidity and efficiency in trading [8].

中国人民银行已连续第8个月开展买断式逆回购加量续作。东方金诚首席宏观分析师王青认为，中国人 民银行开展买断式逆回购操作，显示出货币政策延续支持性立场，有助于开年政府债券发行，并助力金 融机构加大信贷投放。（记者任军、吴雨） 中国人民银行1月14日发布消息称，为保持银行体系流动性充裕，中国人民银行将于1月15日以固定数 量、利率招标、多重价位中标方式开展9000亿元买断式逆回购操作，期限为6个月（181天）。 记者了解到，1月份将有6000亿元6个月期买断式逆回购到期。这意味着，15日中国人民银行将开展的买 断式逆回购操作是加量续作，加量规模3000亿元。 ...

Core Viewpoint - The announcement indicates that China International Capital Corporation (CICC) will acquire CSI notes worth $10 million at a purchase price of $100 per note on January 13, 2026, through the over-the-counter market [1] Group 1 - CICC is set to purchase CSI notes amounting to $10 million [1] - The acquisition price is established at $100 per note [1] - The transaction will take place in the over-the-counter market [1]