Core Viewpoint - The insurance industry is experiencing an innovative trend of "cross-industry collaboration," with various sectors such as securities firms and telecommunications companies entering the insurance market, leading to a multi-channel integration of insurance sales [2][5][10]. Group 1: Cross-Industry Participation - Major securities firms have launched "insurance sections" in their official apps, with one leading firm offering 18 insurance products, including 13 dividend-type products [3]. - China Mobile has begun selling insurance products in its offline stores, integrating insurance sales with telecommunications services [3][10]. - Other capital players, such as Yuexiu Group and Midea Group, are also making significant investments in the insurance sector through acquisitions [3][5]. Group 2: Market Dynamics and Consumer Behavior - The entry of cross-industry players is reshaping traditional insurance sales channels, which have historically relied on individual agents, bank insurance, and brokerage channels [6][7]. - The insurance market is witnessing a shift, with the bank insurance channel surpassing individual insurance channels in new premium scale for the first time in 14 years, while individual channels have seen a 16.6% decline [6]. - Consumers are finding it easier to purchase insurance but are increasingly concerned about making the right choices, as the integration of insurance into daily life may lead to oversimplified decision-making [11][12]. Group 3: Implications for Traditional Channels - The emergence of cross-industry channels is expected to challenge traditional agents and brokers, particularly in the distribution of standardized insurance products [7][10]. - Experts suggest that while cross-industry platforms may dominate simple insurance products, the value of professional agents will become more pronounced in complex risk management and long-term service [7][13]. - The market may evolve into a structure where cross-industry channels focus on lower-end products for younger demographics, while traditional channels cater to high-net-worth clients with complex needs [7][10]. Group 4: Regulatory and Strategic Considerations - The regulatory environment is evolving to support the expansion of insurance sales by securities firms, with new guidelines set to take effect in February 2026 [9]. - The push for cross-industry collaboration is driven by the need for traditional firms to diversify revenue streams amid declining income, with insurance sales seen as a key strategy for wealth management [9][10]. - The integration of insurance into telecommunications and financial services is viewed as a strategic move to create new growth avenues in a saturated market [10][13].

世界黄金协会认为，未来政策风险、通胀预期与投资者持仓将共同塑造黄金的走向。近年来，全球地缘 事件频发，黄金从此类冲突中受益，目前没有迹象表明这一格局会发生改变。 市场紧盯"特朗普因素" 此番金价狂飙，东方金诚研究发展部高级副总监白雪认为，主要源于特朗普在答记者问时称，对跌至近 四年低位的美元并不担心，汇率可以像"溜溜球"一样上下摆动。该言论引发美元快速走弱，推动黄金价 格继续突破新高。 本周，现货黄金价格从略低于5000美元/盎司的水平一路狂飙，连破6道整百关口，于29日站上5500美 元/盎司。 黄金大牛市 兴业银行首席经济学家鲁政委表示，黄金正在一轮大牛市中，近年来的黄金价格走势同时受多个中长期 重大趋势性因素影响。一是国际货币体系的重构；二是全球主要经济体的宏观杠杆率上升；三是所处经 济周期和产业技术周期。 "在出现下一个公认的国际本位币之前，在看到新技术给劳动生产率带来明显的提升之前，仍然需要重 视黄金的功能。"鲁政委说。 白雪补充，本轮金价的上涨已明显超越传统避险交易范畴，这也意味着市场对全球风险的定价方式正在 发生变化。 市场对风险的定价不再局限于单次冲突或危机，而是将地缘政治风险、美元信用风险、 ...

转自：新华财经 新华财经北京1月29日电 国际金价仍在加速上涨。28日，现货黄金大涨超230美元，价格突破5400美元 ／盎司，涨幅约4.6%，创下单日涨幅之最。29日亚市开盘后，国际金价继续狂奔，截至发稿时，现货 黄金和纽约黄金期货价格一度逼近5600美元之后又快速回落，目前在5500美元／盎司之上运行。 刘郁认为，金价波动加剧的核心驱动在于双重逻辑的强化：一方面，美元信用遭遇结构性冲击，美国总 统关于"美元可能像溜溜球一样上下摆动"的言论，引发市场对政策干预的担忧，美元指数击穿95.5关 口，创2022年2月以来新低；另一方面，避险情绪实质性升温，美国总统宣称"舰队驶向伊朗"引爆中东 局势，叠加美政府新一轮停摆风险，避险买盘与去美元化资金形成合力，强力支撑金价继续向上。 28日，美联储维持利率不变，为3.5%至3.75%，符合市场预期，2025年美联储曾连续三次降息25个基 点。联邦公开市场委员会（FOMC）的声明称，美国失业率已趋于稳定，美国经济稳步扩张。然而，声 明也指出，美国就业增长缓慢，通胀率仍处于较高水平。 中东局势方面，近期，美国多次威胁对伊朗进行军事干涉。美国总统特朗普28日早些时候称，一支 ...

北京时间1月29日早间，黄金期货、现货大幅波动，其中COMEX黄金盘中一度突破5600美元，达5626.8美元/盎司，伦敦金现逼近5600美元，都再创历史 新高。随后大幅回落超100美元。 美联储主席鲍威尔关于通胀成因与央行独立性的表态成为关键催化剂。 COMEX貢金 IW GC.CMX 5536.0 5449.9 5340.2 昨结 开盘 4.75万 总手 现手 1 +195.8 +3.67% 5626.8 2.52万 最高价 外 盘 持 仓 o 最低价 5449.4 增 仓 -30.46万 内 盘 2.23万 五日 日K 周K 月K 更多 ◎ 分时 叠加 设均线 MA 5:5222.9↑ 10:4993.6↑ 20:4758.7↑ 前复权 5786.0 5626.8 4830.9 38/5.9 12-22 2026-01-12 2025-11-17 12-03 01-29 当地时间1月28日，美联储宣布维持联邦基金利率目标区间在3.5%至3.75%不变，符合市场预期。但美联储主席鲍威尔在会后发布会上明确指出："通胀超 预期主要源于关税，而非需求因素"，并 强调"美国经济前景已经显著改善"，同时建议下一任美 ...

以下文章来源于一丰看金融 ，作者王一峰、赵晨阳 一丰看金融 . 分享经济金融领域大事小情，路边新闻 二、房地产领域贷款延续负增长，按揭投放持续承压 2025年末，房地产贷款余额同比负增1.6%，余额降至52万亿下方，增速较上季末下降1.5pct。全年房地产 贷款余额下降0.96万亿，降幅同比多增0.86万亿；4Q单季房地产贷款减少0.88万亿，同比多减0.78万亿。 展望26年，预计涉房贷款增长仍相对承压。对公方面，房地产销售相对平淡，不同区域、项目成交"冷热 不均"，市场库存高企，部分企业经营压力仍较大；房地产价格下行压力导致房企拿地开发意愿不足；金 融"十六条"和经营性物业贷款两项政策展期将于2026年末到期，"保交楼"相关对公贷款在25年投放已接近 尾声，临近"十六条"到期时点部分房企或仍面临一定偿债压力，后续对公房地产领域贷款增长或相对承 压。零售方面，居民端就业、收入、预期等长周期变量未见明显好转，叠加房价下跌带来"负财富效应"， 整体购房需求偏弱。扭转居民端购房预期、打破房价下跌和居民观望循环，可能还需要进一步出台系列政 策予以对冲。 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写 ...

Group 1 - Company has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue perpetual subordinated bonds with a total face value of up to 3 billion yuan [1] - The approval is valid for 24 months from the date of registration, allowing the company to issue the bonds in tranches during this period [1] - The company will handle the issuance of the bonds in accordance with relevant laws, regulations, and shareholder authorization, and will fulfill its information disclosure obligations in a timely manner [1] Group 2 - The company’s wholly-owned subsidiary, Guolian Minsheng Securities Underwriting and Sponsorship Co., Ltd., is involved in a major lawsuit and has filed an appeal against a first-instance judgment [4][6] - The total amount involved in the lawsuit is approximately 274.98 million yuan, with the company bearing a 5% joint liability for the debt [4][6] - The company has made provisions for expected liabilities based on the first-instance judgment, but it is stated that the lawsuit will not have a significant adverse impact on the company's current or future profits [5][7] Group 3 - The company confirms that there are no other significant lawsuits or arbitration matters that have not been disclosed as of the date of the announcement [8]

Five Wall Street firms met with the Securities and Exchange Commission’s Crypto Task Force Tuesday to discuss regulatory approaches to digital assets and decentralized finance (DeFi) and how tokenized securities should be treated under existing federal laws. According to the SEC memo, published Tuesday, representatives from the Securities Industry and Financial Markets Association (SIFMA), Cahill Gordon & Reindel LLP, Citadel LLC and JPMorgan Chase & Co. requested the meeting to follow up on recent letter ...

智通财经APP讯，中信建投证券(06066)发布公告，中信建投证券股份有限公司2026年面向专业投资者公 开发行科技创新公司债券(第一期)期限为3年。本期债券发行规模不超过15亿元(含15亿元)。根据网下向 专业机构投资者询价簿记结果，经发行人和主承销商充分协商和审慎判断，最终确定本期债券(债券简 称：26信投K1，代码：244617)票面利率为1.82%。 ...

Core Viewpoint - The company has received approval from the China Securities Regulatory Commission (CSRC) to publicly issue perpetual subordinated bonds to professional investors, with a total face value of up to 3 billion yuan [1]. Group 1 - The CSRC issued a formal approval for the company's application to register the issuance of perpetual subordinated bonds [1]. - The total face value of the bonds that can be issued is capped at 3 billion yuan [1]. - The approval is valid for 24 months from the date of registration, allowing the company to issue the bonds in multiple tranches within this period [1].

Core Viewpoint - The successful issuance of the first offshore bond in the Shanghai Free Trade Zone marks a significant innovation in China's offshore financial market, providing a new pathway for non-bank financial institutions to expand internationally [1][2]. Group 1: Offshore Bond Issuance - The first offshore bond, issued by Dongfang Zhisheng Co., with a scale of 200 million RMB and a maturity of 364 days at an interest rate of 1.88%, was successfully completed [1]. - The issuance was supported by Dongfang Securities Co., which provided cross-border guarantees, highlighting a new role for non-bank financial institutions in offshore debt financing [2][3]. Group 2: Market Dynamics and Regulatory Framework - The new regulations for offshore bonds, effective from March 1, 2026, provide clear institutional expectations for issuers, defining the boundaries and encouraging RMB pricing [4]. - The Shanghai Free Trade Zone's offshore bond market has quickly become a vital channel connecting high-quality domestic assets with foreign capital, with significant interest from international investors [2][4]. Group 3: Future Outlook and Market Potential - The upcoming maturity of a large volume of existing offshore bonds in 2026, with a total outstanding amount of approximately 67.8 billion RMB, indicates a critical period for the market [5]. - Experts believe that the offshore bond market will attract foreign investors due to its high credit quality and stable yields, especially in the context of global monetary policy shifts [5][6]. - The development of a more robust offshore bond framework is expected to enhance the international use of the RMB, positioning offshore bonds as a key support for China's financial globalization [6].