2025年12月15日，工信部公布我国首批L3级有条件自动驾驶车型准入许可名单；12月23日，北京首批 L3级高速公路自动驾驶车辆专用号牌正式发放；12月26日，我国首批L3级自动驾驶专用正式号牌车辆 在重庆规模化上路通行。 L3级自动驾驶上路，被拉进考场的不只车企，还有保险公司。作为公认的辅助驾驶与自动驾驶的分水 岭，L3级自动驾驶落地给车险业务带来的核心挑战是事故责任结构发生了实质性变化。 "在L2阶段，系统始终被界定为'辅助驾驶'，车险逻辑本质仍是'人驾风险管理'。而在L3阶段，只要满足 运行设计域且系统处于接管状态，责任便不再当然归属于驾驶人，这直接冲击了传统车险以个人责任为 中心的制度基础。"北京大学应用经济学博士后、教授朱俊生对新京报记者表示，L3并非L2的简单升 级，而是将重塑车险的底层逻辑。 新京报记者 潘亦纯 需综合车辆控制驾驶员行为等多方面因素 近期，L3级自动驾驶火速落地。L3级对应的是有条件自动驾驶，这意味着在特定条件下，驾驶自动化 系统可以持续执行驾驶任务，驾驶员无需持续关注路况，但必须在系统请求时及时接管。 因此，L3往往被认为是辅助驾驶与自动驾驶的分水岭。从L2跨越至L3，背后是 ...

大家早上壕！ 先看海外要闻： 道指盘中首次站上49000点，随后涨幅回落但依旧创历史新高，小盘股指涨幅居前。美股收盘标普500 涨幅0.64%，道指涨幅1.23%，纳指涨幅0.69%。 特斯拉涨超3%，亚马逊涨逾2%，苹果跌超1%。雪佛龙上涨超5%，特朗普表示大型美国石油公司将 投资委内瑞拉。 纳斯达克金龙中国指数收涨0.49%，中概股索威尔收涨超53%，脑再生科技涨超31%，老虎证券涨超 6%，再鼎医药涨超4%。 避险情绪下，美债收益率普跌，疲软的ISM数据公布后，10年期收益率进一步下行、走低4.3个基点。 美元下跌，回吐了因短线避险情绪带来的涨幅。比特币大涨，重返9.5万美元附近。以太坊一个月来 首次站上3200美元关口。 贵金属大涨，现货黄金涨超2.5%，现货白银大涨5%，纽约银日内一度暴涨近10%。伦铜首次升至 13000美元。原油先跌后涨，WTI原油较日低涨超3.6%。 英伟达在CES发布新一代Rubin平台，推理成本较Blackwell降10倍，拟下半年发货。英伟达"内驱"无 人驾驶汽车将至，发布首个链式思维推理VLA模型。 背靠OpenAI的机器人初创1X亮相CES展示家务机器人，售价2万美元 ...

Core Viewpoint - The A-share market experienced a strong start to 2026, with the Shanghai Composite Index rising by 1.38% and achieving a rare 12 consecutive days of gains, surpassing the 4000-point mark, driven by fundamental improvements, policy benefits, and liquidity recovery [1] Market Performance - The Shanghai Composite Index and Shenzhen Component Index both saw significant increases, reaching new highs [1] - Total trading volume for the day was 2.57 trillion yuan, an increase of over 500 billion yuan compared to the previous trading day [1] Sector Performance - Key sectors that performed well included brain-computer interfaces, insurance, healthcare, and technology [1] Future Outlook - The foundation for a "slow bull" market remains solid, according to Huang Fusheng, Vice President and Chief Economist of Zhongyou Securities [1] - The ongoing implementation of "two重" and "two新" policies, along with a shift in corporate earnings from "valuation repair" to "performance realization," is expected to support a positive market trend [1] - Three favorable factors are anticipated to continue driving the market: the appreciation of the yuan, the expected benefits from the "15th Five-Year Plan," and the maturation of China's technological development [1] - There is optimism for the continuation of a technology bull market and a dual boost in profitability and valuation for the consumer sector [1]

港交所披露易最新信息显示，平安人寿于2025年12月30日增持9558.2万股农业银行H股股份后，于当日达到该 行H股股本的20%，根据香港市场规则，触发举牌。 险资扫货不停！ 在此之前，平安人寿曾在2025年2月17日、5月12日、8月26日分别举牌农行H股，所持该行H股数量占其H股总 数分别突破5%、10%、15%。 据统计，2025年合计7家上市银行被险资举牌。其中，农行H股、郑州银行H股均获四度举牌；招商银行H股、 邮储银行H股均被三度举牌。 四度举牌农行H股 披露易信息显示，早在2025年2月17日，平安人寿就首次举牌农行H股，所持该行H股数量当时就达到该行H 股股本的5%。 5月12日，平安人寿又耗资约7.1亿港元，在场内增持近1.47亿股农行H股，持股占比突破该行H股总数的 10%，构成二度举牌。 8月26日，再度增持829万股农行H股股份之后，平人寿所持该行农行H股总数已达该行H股股本的15%，构 成第三次举牌。 披露易最新消息显示，平安人寿于12月30日继续增持9558.2万股农行H股股份，达到该行H股股本的20%， 完成第四次举牌。 以此计算，2月17日至12月30日，平安人寿合计增持超过 ...

Group 1 - The A-share market opened positively on the first trading day of 2026, with all three major indices rising: the Shanghai Composite Index closed at 4023.42, up 1.38%, the Shenzhen Component Index at 13828.63, up 2.24%, and the ChiNext Index at 3294.55, up 2.85% [2] - The technology sector led the gains, particularly in brain-computer interface stocks, with companies like Beikang and Botao Bio reaching daily limits of 30% and other stocks like Aipeng Medical and Dineike hitting 20% limits [3] - Analysts predict that the technology bull market will continue into 2026, driven by China's economic transformation and the focus on technological innovation in the 14th Five-Year Plan [3] Group 2 - The spring market rally is expected to begin early, with January typically seeing the highest credit issuance of the year, estimated between 3 trillion to 4 trillion yuan, which could inject new capital into the market [4] - Institutional insights suggest that the A-share market may continue its structural rally, supported by positive policy expectations and industry trends, despite potential short-term disruptions from geopolitical risks [5] - The overall market sentiment remains optimistic, with strong liquidity and supportive economic data, indicating that the spring rally is likely to persist [5]

Core Viewpoint - The A-share market started 2026 on a positive note, with all three major indices rising, indicating a shift from valuation recovery in 2025 to profit-driven growth in 2026 [1][5]. Market Performance - On January 5, 2026, the Shanghai Composite Index rose by 1.38% to 4023.42 points, the Shenzhen Component Index increased by 2.24% to 13828.63 points, and the ChiNext Index saw a rise of nearly 2.9% to 3294.55 points [5]. - The total trading volume reached 2.57 trillion yuan, an increase of over 500 billion yuan compared to the previous trading day, with nearly 4200 stocks rising [5]. Sector Highlights - Key sectors showing strong performance included brain-computer interfaces, insurance, and storage devices, with significant gains in AI applications and emerging industries [2][6]. - The brain-computer interface sector experienced a surge, with related stocks hitting the daily limit, driven by news from overseas about Neuralink's plans for large-scale production [7][9]. Investment Outlook - Analysts predict that the 2026 technology bull market is likely to continue, with a focus on sectors such as technology growth, advanced manufacturing, and cyclical consumption [2][12]. - Investment strategies for 2026 include a balanced approach of high-quality stocks and high-potential sectors, emphasizing technology companies with strong fundamentals and emerging industries [13]. Structural Opportunities - The pharmaceutical sector is expected to see structural opportunities driven by innovation, international expansion, and policy reforms, with a focus on innovative drugs and AI integration in healthcare [14].

Group 1: Market Overview - The international oil market is experiencing volatility due to uncertainty surrounding Venezuela's oil reserves, with WTI crude oil rising by 1.64% to $58.15 per barrel and Brent crude oil increasing by 1.61% to $61.71 per barrel [4] - Major European stock indices closed higher, with the UK FTSE 100 up by 0.54%, Germany's DAX up by 1.34%, and the Euro Stoxx 50 up by 1.25% [4] - US stock indices also saw gains, with the Dow Jones rising by 1.23% to a new high, the S&P 500 up by 0.64%, and the Nasdaq up by 0.69% [4] Group 2: Commodity Performance - Spot gold increased by 2.74% to $4,449.04 per ounce, while spot silver rose by 5.42% to $76.6 per ounce [7] - LME copper prices surged to $13,000 for the first time [3] - The performance of precious metals is attributed to increased safe-haven demand amid the situation in Venezuela [3] Group 3: Specific Company Movements - Chevron (CVX.N) shares rose by 5.2%, nearing a new high, while Tesla (TSLA.O) increased by 3% [4] - In the Hong Kong market, Kuaishou (01024.HK) surged over 11%, and Bilibili (09626.HK) rose over 5% [5] - In the A-share market, insurance stocks performed strongly, with New China Life Insurance rising over 8% to reach a historical high [6]

Market Performance - The A-share market experienced a strong opening on January 5, 2026, with all three major indices rising, and the Shanghai Composite Index achieving a "twelve consecutive days" increase, surpassing 4020 points [1][2] - The total market capitalization of the A-share market exceeded 120 trillion yuan, setting a historical high, with a trading volume of 2.57 trillion yuan on the same day [1][7] - Over 4100 stocks in the A-share market rose, with more than 120 stocks hitting the daily limit [1][2] Sector Performance - The brain-computer interface sector saw significant gains, with stocks like Sainuo Medical and Meihao Medical reaching a 20% limit up, and Hanwei Technology rising over 18% [3] - Other strong-performing sectors included memory, insurance, CRO, and virtual humans, with the media, pharmaceutical, and electronics industries leading the gains [2][3] - The A-share market's trading volume increased by 501.5 billion yuan compared to the previous trading day, indicating a notable increase in market activity [2] Fund Flow and Sentiment - As of December 2025, the A-share market's financing balance increased by over 670 billion yuan, with more than 2300 stocks receiving net inflows from main funds on January 5, 2026 [4][5] - The financing balance for the A-share market reached a historical high of 25.41 trillion yuan by the end of December 2025 [4] - On January 5, 2026, the main funds saw a net outflow of 62.98 billion yuan, but the number of stocks with net inflows reached a new high in over a month [5][6] Investment Outlook - Analysts suggest that the spring market is expected to focus on consumption and growth as the two main themes, driven by optimistic market sentiment and expectations of policy support [1][8] - Investment strategies should prioritize high-quality technology companies with strong performance certainty and long-term growth logic, while also considering high-potential sectors like non-bank finance and AI hardware [8]

近期，全国长期护理保险高质量发展大会在宁波召开，会上公布了一则消息：试点了近10年的长期护理 保险在"十五五"时期将覆盖全民。 长护险也要考量地区差异、跨区域互认等问题。比如，随着老龄化程度加深和人口流动加快，失能者随 亲人在异地居住后难以享受长护险待遇的问题日益凸显，存在"参保地在原地、服务需求在异地"的矛 盾。又如，全国范围内的长护险失能评估互认还存在障碍。解决好这些问题，才能推动长护险更好发 展。 "十五五"时期，长护险将从试点转向全面建制，逐步覆盖所有参保人。多方协同完善制度设计，促进长 期照护产业发展，加大长护人才培养力度，发挥好商业保险机构作用……让更多失能人员获得专业照 护，同时也使背负照护重担的家庭得以"喘息"。这不仅是"小家"的期盼，更是"大家"的奋斗目标。 （文章来源：经济日报） 长护险试点通过集聚资金，发挥规模效应和制度平台作用，有助于拓宽就业渠道、创造就业岗位，带动 了养老服务业和健康产业快速发展。"十四五"期间，49个国家试点城市长护险拉动社会资本投入相关产 业超过500亿元，长护险定点服务机构超过8800家，护理服务人员达到30万人，均较"十四五"初期增长 超50%，成为银发经济新 ...

在理赔服务方面，目前，医疗责任理赔支持双通道理赔，对于本市基本医保参保人符合赔付的案 件，"北京普惠健康保"会发短信提醒参保人理赔，对医保内自付责任和医保外住院自费责任进行主动赔 付，参保人可以通过"北京普惠健康保"微信公众号填写领款人账户等相关信息，无需提供医疗票据等理 赔材料（特殊情况除外），进一步简化理赔流程；对于非本市基本医保参保人（比如新市民等）的理赔 案件，参保人可以通过"北京普惠健康保"微信公众号线上申请理赔。特药责任理赔则提供特药直付和事 后报销两种选择，推荐优先使用特药直付服务，购药时仅需支付自付部分，无需垫付全款，参保人可通 过"北京普惠健康保"微信公众号线上申请理赔，十分便捷。 此外，2026年度"北京普惠健康保"还为全体参保人提供两大类实用健康服务，切实减轻用药、就医及术 后护理负担。一是购药折扣权益，涵盖门店购药、网上购药及原研药购买，参保人全年购药可享九折优 惠，年度补贴总额1800元，单次最高补贴400元，全年可使用12次，让日常用药更省钱省心；二是通用 服务，覆盖陪诊、上门护理、居家康复等场景，参保人就医后全年可免费使用5次，在家即可享受专业 服务，有效解决就医护理难题。参保人 ...