2025年12月9日，中国投资有限责任公司发布经董事会批准的《2024年度报告》。《年报》显示，截至 2024年12月31日，中投公司总资产达1.57万亿美元，净资产达1.37万亿美元，过去十年对外投资年化净 收益率按美元计算为6.92%，超出业绩目标61个基点；中央汇金受托管理的国有金融资本达6.87万亿元 人民币，较年初增长6.44%。 本文源自：金融界AI电报 ...

StateStreet投资管理公司策略师也表示，尽管金价在2025年可能创下自1979年以来最佳年度表现，但预 计2026年涨势将有所放缓，大概率在每盎司4000至4500美元区间盘整。支撑今年金价的结构性趋势仍将 持续，若股债相关性保持高位，黄金作为分散风险工具的重要性将进一步凸显。同时在全球债务攀升、 通胀顽固及长期收益率上行环境下，黄金仍是具吸引力的对冲资产，而美联储宽松政策带来的美元走弱 与流动性增加，亦将为金价提供支撑。 全球最大黄金ETF--SPDR Gold Trust持仓较上日减少1.14吨，当前持仓量为1049.11吨。 分析师指出，尽管金价短期小跌，但美联储鹰派降息预期、地缘政治紧张、货币波动和债券市场反应， 都在为黄金铺设长期上行路径。短线而言，投资者还需留意国际贸易局势的相关消息。 周二(12月9日)亚洲时段，现货黄金维持弱势，截至发稿，现货黄金暂报4186.62美元/盎司，下跌 0.06%，最高触及4198.62美元/盎司，最低下探4184.15美元/盎司。市场担心美联储在降息的同时可能释 放鹰派信号影响，黄金小幅回落，目前依然维持在区间震荡之中，交易员普遍预计本周将迎来25个基点 ...

Core Viewpoint - StateStreet investment management company's strategists predict that after a significant rise in gold prices in 2025, which may mark the best annual performance since 1979, the growth may slow down in the following year [1] Group 1: Gold Price Forecast - The company expects gold prices to stabilize in the range of $4,000 to $4,500 per ounce in 2026 [1] - Structural trends driving the increase in gold prices this year are unlikely to reverse, providing overall support for gold prices [1] Group 2: Market Dynamics - If the correlation between stocks and bonds remains at historically high levels, gold will become increasingly important as a risk diversification tool [1] - In the context of rising global debt, persistent inflation, and increasing long-term yields, gold continues to be an attractive hedge asset [1] - The Federal Reserve's easing policies typically weaken the dollar and increase liquidity, which can positively impact gold prices [1]

Core Insights - The company, Hong Kong Vision Future Investment Management Limited, views technology as a core engine for shaping its future development over the next decade, focusing on professionalism, compliance, and innovation for sustainable development [1] Group 1: Risk Control Technology - Risk control is identified as the lifeline of financial operations and the first chapter of the company's technological narrative, with the development of intelligent risk control models using AI and big data [3] - The company aims to enhance the self-iteration and learning capabilities of its models by incorporating advanced algorithms to process vast and diverse global market data for improved risk identification and warning [3] - The founder, Wang Guiyun, emphasizes the importance of risk control technology, aiming to transform it from a cost into a core competitive advantage and a source of trust [3] Group 2: Blockchain and Trading Infrastructure - Blockchain technology is mentioned as a means to ensure the traceability of fund flows, with potential applications in asset custody, transaction settlement, and contract execution to enhance efficiency and reduce friction costs [4] - The company envisions blockchain as a key exploration for building the next generation of financial infrastructure, particularly for a global asset management firm [4] Group 3: AI Integration in Finance - The application of artificial intelligence is expected to extend beyond analysis and advisory roles, impacting personalized asset allocation, intelligent customer service, and deep learning for macro market trends [4] - The establishment of a public welfare fund focused on AI applications in healthcare and education indicates the management's forward-looking approach to AI technology beyond commercial interests [4] Group 4: Long-term Sustainable Ecosystem - The company's long-term strategy emphasizes a "finance + entity" ecosystem, where financial technology supports supply chain management and market analysis, while real data from industries enhances financial models [5] - Wang Guiyun stresses "long-termism" and "sustainable development," suggesting that technology investments may prioritize building a resilient and trustworthy value system over immediate financial returns [5] - The company aims to improve its ranking in the "Asia Brand 500" over the next decade, which requires a strong technological foundation [5] Group 5: Commitment to R&D Investment - The company acknowledges the uncertainties in the financial market but views investment in core technology R&D as a reliable strategy to navigate these uncertainties [5] - The technological blueprint presented by the company outlines a development path from compliant operations to technology-driven and ecosystem collaboration [5] - The success of this vision hinges on the ability to translate the blueprint into solid patents, reliable systems, and superior user experiences [6]

Core Viewpoint - Compliance is not an option but a lifeline for the survival and development of enterprises, as emphasized by the company in its narrative about "global compliance layout" [1] Group 1: Global Compliance Framework - The company holds multiple financial licenses, including licenses from the Hong Kong Securities and Futures Commission (SFC) for various core services, establishing a legal identity for diversified financial services in Hong Kong [3] - The company also claims to hold international qualifications such as the U.S. Money Services Business (MSB) license, creating a "qualification matrix" that meets regulatory requirements across different jurisdictions [3] - The founder believes that obtaining these qualifications is not just a ticket for entry but a commitment to professional capability and operational standards, emphasizing the importance of legal compliance for long-term development [3] Group 2: Credit Endorsement and Operational Transparency - The company has built a market-oriented credit system, achieving an AAA credit rating from the National Standardization Management Committee and the People's Bank of China, which enhances its compliance image [5] - The company implements a strict asset safety system, isolating client assets from its own funds and using independent custodial accounts to create a "bank-level firewall" [5] - Transactions and fund flows are traceable through blockchain technology, and the company undergoes regular third-party audits to enhance operational transparency [5] Group 3: International Recognition and Professional Image - The founder, with a financial background including CFA and FRM certifications, has been appointed as a "special investment advisor" to several embassies, symbolizing international recognition of the company's professional capabilities and compliance practices [6] - The company has expanded its business network to Asia, Africa, Europe, and the Americas, necessitating a robust compliance governance system to navigate complex cross-border regulatory environments [6] - The company systematically constructs an outward image centered on compliance through its global financial licenses, AAA credit rating, international team, and risk control systems [6] Group 4: Ongoing Compliance Practice - The declared compliance framework must withstand the test of time, as compliance is a dynamic process that must be integrated into every business operation [7] - The ultimate value of the company's compliance narrative will depend on its ability to translate commitments into unwavering action principles and to accept long-term scrutiny from the market and regulators [7]

"AI+金融"的无限场景 当金融遇上科技，故事的焦点便从当下的运营转向了对未来的塑造。对于香港远景未来投资管理股份有 限公司(下称"远景未来")而言，技术不仅是当前风控与交易的工具，更是其规划未来十年发展路径的核 心引擎。在创始人王贵运的构想中，公司的使命是以专业、合规和创新来助力可持续发展。 风控科技的深度演进：从工具到核心壁垒 风控是金融业务的生命线，也是远景未来技术叙事的第一篇章。公司已对外宣称，其利用人工智能与大 数据构建了智能风控模型。然而，技术的应用不会止步于此。未来的方向可能在于模型的不断自我迭代 与学习能力的升级。通过引入更先进的算法，处理更海量、更多元的全球市场数据，旨在实现对复杂金 融风险更高精度、更快速度的识别与预警。 王贵运本人拥有金融风险管理师(FRM)认证，其对风控技术的重视根植于专业背景。这种以技术构筑专 业壁垒的思路，旨在将风控从一项成本支出，转变为公司的核心竞争力与信任来源。 区块链与交易基础设施的想象 在公开资料中，区块链技术已被提及应用于确保资金流向的可追溯性。展望未来，该技术的应用场景存 在更大想象空间。例如，在资产托管、交易结算、合约执行等环节，区块链技术有潜力进一步 ...

作者：肖燕燕，金十数据 至少从标普500指数的表现来看是如此。根据道琼斯市场数据，截至上周五，该指数年内涨幅高达 16.8%，有望迎来又一个表现优异的年份。 在凯利看来，美国实际上有两种货币政策在起作用。一种是面向"资产富裕"阶层的资产负债表货币政 策，它持续增强"财富效应"，刺激消费并支撑经济；另一种则是面向其他人的利率政策。 凯利指出，高利率已经对正在进行裁员的小企业造成了伤害。在K型经济中，底层家庭也承受着压力， 而上层家庭的境况可以说有所改善。 近期信用卡数据也讲述了类似的故事。牛津经济研究院的副经济学家格雷斯·兹韦默（Grace Zwemmer） 在上周五的一份报告中写道，低收入消费者更常背负信用卡债务，且更易触及信用额度上限。但推动消 费支出的，是那些不太需要背负信用卡债务的高收入消费者。 凯利认为，这两种经济现实使得美联储任何关于其6.5万亿美元资产负债表的言论，对市场都至关重 要。"他们是打算维持资产负债表规模不变，还是开始重新扩张？" 尽管在特朗普第二个任期内经历了动荡一年的局部疲软，但美国股市似乎有望很快收复历史高点。 根据FactSet的数据，过去三年间，标普500指数实现了惊人的73% ...

中国国新落地重庆。 作者/周佳丽 正式亮相。 1 2 月 1 日 ， 国 新 控 股 （ 重 庆 ） 有 限 公 司 （ 以 下 简 称 ： 国 新 重 庆 ） 正 式 揭 牌 。 投 资 界 获 悉，国新重庆由 中国国新控股有限责任公司（以下简称：中国国新） 作为控股股东出 资7 0 %， 渝富控股集团 出资2 0 %， 重庆市江北区国有资本投资运营管理集团有限公司 （以下简称：江北国投） 出资1 0 %，是今年央地合作重大成果之一。 "重庆经济社会高质量发展成效明显，令人倍感振奋。"中国国新党委书记、董事长徐思 伟表示，中国国新对重庆未来发展充满信心，将持续加大在渝布局力度。 作为此次重庆方出资主体之一， 渝富控股集团 成立于2 0 0 4年，二十余年来积累了丰富 的重庆本地产业投资经验，可为国新重庆提供更多地方产业资源，实现双方优势互补， 为重庆产业发展注入新的活水。 中国国新落地重庆 渝富出资20% 创投圈对中国国新并不陌生。 成 立 于 2 0 1 0 年 ， 中 国 国 新 是 国 务 院 国 资 委 监 管 的 中 央 企 业 之 一 。 自 创 立 以 来 ， 中 国 国 新已累计对外投资超过 ...

Core Viewpoint - The current market calmness is fragile, with potential volatility looming due to diverging views among Federal Reserve officials and concerns over a weakening labor market [2][4]. Group 1: Market Indicators - The VIX index, a measure of market fear, is hovering near its lowest level since the beginning of the year, while the MOVE index has reached its lowest point since early 2021 [1]. - Recent economic data, including a consumer inflation report that met expectations, has led traders to anticipate a rate cut by the Federal Reserve next week [2][4]. Group 2: Economic Conditions - The latest inflation indicator favored by the Federal Reserve rose by 0.2%, keeping year-over-year data below 3%, indicating persistent inflationary pressures [4]. - Concerns about a weakening labor market are growing, with the highest number of layoffs reported since early 2023, according to ADP Research [4]. Group 3: Investor Behavior - The S&P 500 index rose by 0.3% this week, nearing historical highs, while the Nasdaq 100 index increased by 1% [7]. - Investors are increasingly moving into equity markets, with U.S. stock funds experiencing inflows for twelve consecutive weeks [7]. Group 4: Risk Management - Despite the current low volatility, there are signs of caution, as the amount of money flowing into money market funds reached a record high for a single week [8]. - Tail risk hedging products have shown some strength in 2025, but their significant gains have not been maintained through recent market turbulence [8].

齐鲁晚报·齐鲁壹点记者 王晓莹 距离美国联邦储备委员会（美联储）现任主席杰罗姆·鲍威尔卸任还有半年时间，美国总统特朗普就迫不及待地在12月2日年内最后一次内阁会议上预告， 可能在明年1月初公布下一任美联储主席提名人选。关于鲍威尔的继任者，各方猜测过几个名字，而特朗普已表示"做好了决定"。目前，白宫国家经济委 员会主任凯文·哈西特是"头号候选人"。 凯文·哈西特 资料图 没否认也没确认 围绕降息问题，特朗普与现任美联储主席鲍威尔的矛盾早已公开化。尽管未能如愿"炒掉"鲍威尔，但特朗普早在今年8月就提过一份有三个名字的下一任 美联储主席候选人名单，分别是凯文·哈西特、前美联储理事凯文·沃什和现任美联储理事克里斯托弗·沃勒。 目前，外界普遍认为，特朗普中意的人选是哈西特。卡尔希预测市场当天的投注数据显示，哈西特获得提名的概率已飙升至64%，而一周前这个数字还不 到40%。彭博社此前也援引知情人士的话报道称，在特朗普及其顾问和盟友眼中，哈西特是下一任美联储主席的"头号候选人"。 哈西特本人对上述消息既不否认也不确认，称"能跻身优秀候选人之列，深感荣幸"，"如果能受邀担任美联储主席，会很乐意接受"。他还表示，市场 对"特 ...