Core Viewpoint - The forum emphasizes the importance of technological self-reliance and financial optimization as key drivers for China's modernization and economic growth in the face of global changes [2][4]. Group 1: Technological Self-Reliance - Technological self-reliance is identified as the core driving force to address new global development challenges, with a focus on enhancing national innovation capabilities to achieve the 2035 vision [2][4]. - The current economic environment presents both opportunities and challenges, necessitating a shift in development strategies to adapt to demographic changes and other factors [2]. Group 2: Financial Resource Optimization - Optimizing financial resource allocation is crucial for supporting high-level technological self-reliance, ensuring that financial services effectively support long-term and diverse technological innovations [3][4]. - The "14th Five-Year Plan" emphasizes the need to accelerate the construction of a strong financial nation, which includes enhancing financial service efficiency and security [4]. Group 3: Education and Talent Development - The integration of education, technology, and talent development is fundamental for achieving technological self-reliance, requiring a revitalization of the higher education system to foster innovation capabilities [4][5]. - The forum highlights the importance of cultivating high-quality financial talent that understands both domestic and international contexts, aligning with the needs of financial reforms and innovations [5][6]. Group 4: Tsinghua University Wudaokou Financial Institute's Role - The Tsinghua University Wudaokou Financial Institute aims to build a comprehensive talent training system that meets the demands of the financial sector, focusing on producing versatile professionals [5]. - The institute is committed to establishing a "Tsinghua School" of finance, contributing to the theoretical and practical advancements in China's financial development [6]. - The institute plans to leverage its strengths in technology and finance to create a robust financial infrastructure and enhance national financial security [7][8].

德国、俄罗斯、意大利这三大黄金储备国接连传出抛售黄金。 金价应声下跌，投资者开始惴惴不安，担忧这一波黄金牛市行情是不是就要结束了。 然而事情没那么简单，我们需要透过现象看本质，看清这场"黄金抛售潮"真正的动机和对未来市场的影 响。 从时间上看，德国、俄罗斯、意大利的动作几乎集中于2025年下半年至年末，时间点上确实较为密集。 但如果仔细观察，不难发现三国减持黄金背后的原因有着本质区别，不能一概而论。 德国方面，作为全球第二大官方黄金持有国，其所持黄金长期高居7000吨左右，此次抛售量虽超1吨， 但相比其整体持仓仍属小幅度调整，且这是德国五年来首次减持。 此举更像是对外汇储备结构的主动管理。在金价高涨的背景下，黄金占比在外汇储备中可能超过了预设 的风险平衡点。 高位减持一部分黄金，不仅可以实现浮盈兑现，还能将资产重新分配到其他领域，有助于提升储备组合 的抗风险能力。 相比之下，俄罗斯的情况则更显紧迫，随着西方制裁持续发酵，其外汇储备中的近3000亿欧元被冻结， 同时能源出口受限，财政压力陡增。 尽管此举并不直接赋予政府出售黄金的权力，但却可能为未来出售黄金打开制度性通道。 当前，意大利央行持有的黄金规模超过24 ...

2025.12. 07 本文字数：1995，阅读时长大约4分钟 作者 | 第一财经 杜川 封图 | AI生成 12月7日，国家外汇管理局发布的数据显示，截至11月末，我国外汇储备规模为33464亿美元，较 10月末上升30亿美元，升幅为0.09%，创下2015年12月以来的新高。 数据同时显示，11月末黄金储备为7412万盎司，较上月末增加3万盎司，为连续13个月增持。 外汇局表示，11月，受主要经济体宏观经济数据、货币政策预期等因素影响，美元指数下跌，全球 金融资产价格涨跌互现。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经 济保持总体平稳、稳中有进发展态势，为外汇储备规模保持基本稳定提供支撑。 外储环比上涨 受资产价格变化与汇率波动综合影响，11月末外储环比上升30亿美元至33464亿美元。 与10月对比看，11月末外储规模基本稳定。"主要是当月美元指数变化较小，全球金融资产涨跌互 现，整体波动不大。"东方金诚首席宏观分析师王青说。 展望未来，王青认为，综合考虑各方面因素，未来外储规模有望保持基本稳定。在外部环境波动加大 的背景下，适度充裕的外储规模将为保持人民币汇率处于合理均衡水平提 ...

Core Viewpoint - The European Union's proposed funding plan for Ukraine, utilizing frozen Russian assets amounting to €90 billion over the next two years, has sparked significant international attention and controversy, particularly from Russia and within the EU itself [1][2]. Group 1: EU Funding Plan - The EU aims to provide loans to Ukraine, which would eventually be repaid through compensation from Russia [2]. - The plan is a response to increasing pressure on the Ukrainian battlefield and seeks to explore new avenues for support as the U.S. pushes for a conflict resolution under specific conditions [1][6]. Group 2: Russian Opposition - Russian Ambassador to Germany, Sergey Nechayev, has strongly opposed the EU's plan, labeling any use of Russian sovereign assets without consent as theft and warning of severe repercussions for the EU's commercial reputation [1][4]. - Nechayev emphasized that this unprecedented move could lead to a state of legal anarchy and undermine the global financial system, with the EU being the first to suffer [1][6]. Group 3: Internal EU Disagreements - Belgium has expressed significant concerns regarding the potential legal ramifications of utilizing frozen assets, fearing retaliation from Russia and substantial litigation risks [4][5]. - The Belgian government has called for other EU member states to share the associated risks and provide clear guarantees [5]. - German Chancellor Friedrich Merz acknowledged Belgium's concerns and stated that any solution must ensure equal risk-sharing among all European countries [5].

外储规模继续稳定在3.3万亿美元以上 数据显示，截至2025年11月末，我国外汇储备规模为33464亿美元，较10月末上升30亿美元，升幅为0.09%。 【导读】11月外储规模环比上升0.09%，央行连续13个月增持黄金，可谓历史罕见 中国基金报记者 张玲 12月7日，国家外汇管理局最新数据显示，截至2025年11月末，我国外汇储备规模连续4个月稳定在3.3万亿美元以上。同时， 央行已连 续13个月增持黄金。 拉长时间来看，11月，我国外汇储备规模不仅连续四个月稳定在3.3万亿美元以上，还创下2015年12月以来新高。同时，较上年末已大幅 增加1440亿美元。 国家外汇管理局表示，2025年11月，受主要经济体宏观经济数据、货币政策预期等因素影响，美元指数下跌，全球金融资产价格涨跌互 现。汇率折算和资产价格变化等因素综合作用，当月外汇储备规模上升。我国经济保持总体平稳、稳中有进发展态势，为外汇储备规模保 持基本稳定提供支撑。 民生银行首席经济学家温彬分析称，11月份，美国联邦政府重启后补发的一系列经济数据表现疲软，叠加多位美联储鸽派官员安抚市场， 哈塞特成为下届美联储主席核心候选者的市场消息，美联储12月降息 ...

Core Viewpoint - The article emphasizes the need for financial institutions to actively participate in urban renewal projects in Chongqing, aiming to establish a diversified financing system and enhance collaboration among government, finance, and enterprises to support sustainable urban development [3][4]. Group 1: Overall Requirements - The initiative aims to implement the central government's directives on urban work, focusing on modernizing urban infrastructure and services through innovative financial products and services [4]. - Financial institutions are encouraged to strengthen medium- and long-term credit supply to meet the financing needs of urban renewal projects [4]. Group 2: Key Support Areas - Financial institutions are to focus on urban area renewal, renovation of old residential communities, and enhancement of urban infrastructure, including digital and green space updates [5]. - The initiative also emphasizes the importance of preserving historical and cultural aspects of urban environments during the renewal process [5]. Group 3: Financial Support Measures - A specialized team should be established within financial institutions to enhance urban renewal financial services and ensure effective policy implementation [6]. - Financial institutions are encouraged to innovate financial products tailored to urban renewal needs, such as specialized loans, funds, and asset-backed securities [6][7]. - Collaboration between financial and fiscal sectors is essential to increase support for urban renewal projects through special bonds and market-driven funds [7]. Group 4: Mechanism Guarantees - A collaborative mechanism among financial management, housing, and construction departments is necessary to address challenges in urban renewal financing [8]. - Financial institutions should develop performance evaluation systems to assess the effectiveness of their urban renewal financial services [8]. - Successful case studies in urban renewal should be promoted to share best practices and encourage further innovation in financing solutions [8].

Core Viewpoint - The seven associations in China have issued a risk warning prohibiting their member units from participating in virtual currency and real-world asset token issuance and trading activities within the country, following a crackdown by 13 government departments on cryptocurrency speculation [1][2]. Group 1: Regulatory Actions - Member units are explicitly forbidden from engaging in any activities related to the issuance and trading of virtual currencies and real-world asset tokens within China [1][2]. - The associations emphasize that virtual currencies are not issued by monetary authorities and do not hold the same legal status as legal tender in China [2]. - Institutions and individuals conducting exchanges between legal currency and virtual currencies, or engaging in the issuance and financing of real-world asset tokens, are deemed to be involved in illegal financial activities [2][3]. Group 2: Risks Associated with Virtual Currencies - The risk warning highlights that virtual currencies are often used for speculative trading and illegal activities such as Ponzi schemes and fraud [4]. - Specific examples of risks include the volatility of virtual currency prices, with Bitcoin experiencing significant fluctuations, such as dropping below $85,000 and then rebounding above $90,000 within a few days [4]. - The warning also identifies "air coins" like π coin as lacking substantial technological innovation and clear commercial applications, making them susceptible to fraud and market manipulation [2]. Group 3: Compliance Requirements - Financial institutions, including banks and payment service providers, must not offer any services related to the issuance and trading of virtual currencies or real-world asset tokens [3]. - Member units are required to conduct thorough customer due diligence to identify any involvement in virtual currency transactions or money laundering risks [3]. - Internet platform companies must ensure compliance by not providing marketing or technical services for virtual currency-related activities [3].

记者丨刘雪莹 编辑丨曾静娇 12月7日，中国央行发布最新数据显示，中国11月末黄金储备报7412万盎司（约2305.39吨），环比增加 3万盎司（约0.93吨），为连续第13个月增持黄金。 中金公司在近日发布的研报中称，央行购金是黄金近几年主要的需求来源。不过，随着金价不断走高， 有的央行的资产配置中，黄金与储备资产之比已超过其目标，出现短期减持黄金的现象。总体而言，全 球央行配置黄金的比例可能还有上升空间。 21君荐读 12月4日，世界黄金协会发布2026年展望称，黄金在2025年经历了非凡的一年，超50次创下历史新高， 回报率超过60%。 2026年，受美债收益率下行、地缘政治紧张局势加剧以及避险情绪高涨等因素推动，金价或较当前水平 上涨15%至30%；而若"再通胀回归"，金价则可能面临5%至20%的回调压力。 专家表示，黄金中长期偏强行情概率大，短期调整是配置机会，投资者需理性看待，警惕高位波动，避 免盲目追涨。 SFC 出品 | 21财经客户端 21世纪经济报道 另据国家外汇管理局官网7日发布消息称，截至2025年11月末，中国外汇储备规模为33464亿美元，较10 月末上升30亿美元，升幅为0.09 ...

12月7日，中国人民银行官网更新了官方储备资产。截至2025年11月末，中国黄金储备为7412万盎司，环比增加3万盎司，为连续第13个月增持黄金。 | 2025.09 | | 2025.10 | | 2025.11 | | | | --- | --- | --- | --- | --- | --- | --- | | 亿美元 | ZSDR | 亿美元 | 亿SDR | 亿美元 | 亿SDR | 1 | | 100million | 100million | 100million | 100million | 100million | 100million | 10 | | USD | SDR | USD | SDR | USD | SDR | | | 33386.58 | 24352.47 | 33433.43 | 24612.45 | 33463.72 | 24631.64 | | | 112.29 | 81.91 | 110.58 | 81.40 | 110.59 | 81.40 | | | 561.14 | 409.30 | 555.62 | 409.03 | 557.16 | 410.11 | | | ...

财富集中度再创新高 2025年多项权威报告一致指出，全球13%的成年人口掌握着85%的社会财富，其中仅占3%的企业领袖位于决策链最顶端。在这群人中，超高净值家庭（可投 资资产≥2500万美元）约24.9万户，资产过亿者约4.9万户，十年增长80%。他们用1%的数量贡献了38%的流动金融资产，上层超高净值客群更独占26%，成 为名副其实的"皇冠明珠"。 中国成为增长极，画像多元 中国是这片"财富蓝海"最活跃的增量市场。中老年第一代民营企业家仍占主导，多来自工程、制造等传统行业；与此同时，大型企业董监高、企业家配偶、 中青年创业者、富二代及演艺界成功者共同构成了多元面孔。区域差异之外，代际差异也在放大：Z世代日均刷社媒128分钟，KOL种草驱动消费；X世代及 更年长者则依赖电视等传统渠道，品牌历史与可靠性才是决策核心。 东西市场价值取向泾渭分明 东方市场崇尚"新"与"贵"。中国、东南亚、中东的高净值人群把科技创新和身份象征放在首位：虚拟现实、智能家居购买意愿全球领先；汽车消费中，中国 纯电/插混意向世界第一，车辆首先是身份符号。美妆赛道更直观：中国"成分党"愿为单件护肤品支付288美元，是北美的两倍；东南亚追独特 ...