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年轻人接棒“中国大妈”?金价下跌,浮亏惨重!
第一财经· 2025-05-18 13:50
2025.05. 18 本文字数:2967,阅读时长大约5分钟 作者 | 第一 财经 王方然 王婷(化名)还记得12年前那场"淘金热"。父母带着她在各大金店比价,最终几乎花光了家里一年 的收入,囤下两块黄金。那一年,走牛许久的金价迎来一波下跌,关于"中国大妈抄底黄金"的讨论 伴着夏日的炎热不断升温。 然而,随后而来的是"深套"。金价震荡下跌了多年,大家默契地很久没有提及"瞎折腾"买入的那两 块黄金。 在30岁这年,王婷也成了"囤金"年轻人中的一员。与父母辈不同,这一代年轻人买金的方式发生了 显著变化:他们不再一次性"all in"实体金条,而是青睐金豆、积存金等门槛更低的产品。在操作方 式上也衍生出更多玩法,既有长期持有的"价值党",也不乏喜欢"快进快出"做短线交易的"炒金 者"。 年轻人"炒金"有何不同? 与父母辈"囤金"相比,新一代年轻的"炒金者"有自己的投资哲学。 在深圳水贝经营一家快餐店的李艺(化名)则从2年前开始热衷攒小克重黄金。每过一段时间,攒够 克数后,都会去相熟的老板处打一个素圈手镯或者回收变现。 "感觉是十年前的子弹正中眉心,这次轮到我们这代做'中国大妈'了。"接受记者采访时,在深圳从事 金 ...
肖钢:一季度证券业金融科技投资强度在金融各子行业中居首
news flash· 2025-05-18 13:49
智通财经5月18日电,中国证监会原主席肖钢5月18日在2025清华五道口全球金融论坛上表示,今年一季 度,从金融机构的整体科技投入来看,在保持稳定增长前提下也更加精打细算。其中,一季度证券业对 金融科技的投资强度,在金融各子行业中最高。一方面,是和证券业过去的基数不是很大有关系,前几 年银行业投的比较多,证券业相对投的比较少。另一方面,是去年以来特别是今年一季度,证券业加大 了投入强度。 肖钢:一季度证券业金融科技投资强度在金融各子行业中居首 ...
年轻人接棒“中国大妈”?最近一波金价下跌浮亏惨重
Di Yi Cai Jing· 2025-05-18 12:49
与王婷一样,90后投资者张湾(化名)也喜欢线上买卖虚拟金。最近半年她总会在工作间隙"摸鱼"打开 交易软件。"跌时买入,涨时卖出",依照这一思路,张湾有时候一天内要操作好几次。 最狂热的时候,她曾经半夜定闹钟起来盯金价。凭借这种精细的操作,她一度盈利颇丰。她将之形容 为"每个月额外赚了一份工资"。最近的这波下跌,她也巧妙避开了,因为当时想观望贸易谈判进展,在 4月末的高位已经清仓。 黄金投资"金融化"加速。 王婷(化名)还记得12年前那场"淘金热"。父母带着她在各大金店比价,最终几乎花光了家里一年的收 入,囤下两块黄金。那一年,走牛许久的金价迎来一波下跌,关于"中国大妈抄底黄金"的讨论伴着夏日 的炎热不断升温。 然而,随后而来的是"深套"。金价震荡下跌了多年,大家默契地很久没有提及"瞎折腾"买入的那两块黄 金。 在30岁这年,王婷也成了"囤金"年轻人中的一员。与父母辈不同,这一代年轻人买金的方式发生了显著 变化:他们不再一次性"all in"实体金条,而是青睐金豆、积存金等门槛更低的产品。在操作方式上也衍 生出更多玩法,既有长期持有的"价值党",也不乏喜欢"快进快出"做短线交易的"炒金者"。 年轻人"炒金"有何 ...
2025年中国金融科技(FinTech)行业发展洞察报告
艾瑞咨询· 2025-05-18 10:48
Core Insights - The financial technology (FinTech) industry is experiencing significant growth, driven by technological innovation and policy support, with an expected compound annual growth rate (CAGR) of approximately 13.3%, reaching over 650 billion yuan by 2028 [1][8][5] Group 1: Current Status of the FinTech Industry - The domestic FinTech industry is transitioning from a phase of foundational development to a more advanced stage focused on sustainable product technology iteration and data management [5][11] - The emphasis on a "technology-industry-finance" cycle highlights the importance of diverse and compliant data applications in financial business scenarios [4][5] Group 2: Market Size and Growth Projections - The FinTech market is projected to grow at a CAGR of about 13.3%, surpassing 650 billion yuan by 2028, driven by the recovery of the financial sector post-pandemic and the rise of new productivity models [8][5] - The financial market's prosperity and rapid technological advancements are contributing to the continuous increase in the domestic FinTech market size [8][5] Group 3: Sector-Specific Analysis Banking Sector - The banking sector's technology investment is expected to grow at a CAGR of 11.85%, potentially exceeding 450 billion yuan by 2028, influenced by the rise of emerging technologies and the completion of domestic innovation goals [22][23] - The banking industry's digital transformation is entering a phase of comprehensive application and functionality enhancement [22][23] Insurance Sector - The insurance market is anticipated to see technology investment grow at a CAGR of 14.83%, exceeding 100 billion yuan by 2028, driven by increasing demand due to aging population and heightened insurance awareness [32][29] - The insurance sector's core technology applications are maturing, with a focus on marketing and risk control as key growth areas [29][32] Securities Sector - The securities industry is expected to experience a rapid growth phase, with technology investment projected to exceed 970 billion yuan by 2028, growing at a CAGR of approximately 19.7% [39][44] - The focus on reducing core system failure rates and enhancing efficiency through AI and data integration is becoming a central theme in the securities sector [39][44] Group 4: Technology Trends - The deployment of artificial intelligence (AI) products in financial services is closely linked to the types of business scenarios they serve, with a projected investment growth rate of about 30.36% by 2029 [46][48] - The emphasis on big data applications is increasing, with financial institutions prioritizing data processing capabilities and compliance [57][58] - Cloud services are becoming a critical trend in the digital transformation of financial institutions, with a focus on hybrid cloud solutions and data security [61][64]
重要数据!央行,即将公布
Zheng Quan Shi Bao· 2025-05-18 10:23
宏观 要闻 央行即将公布5月1/5年期贷款市场报价利率(LPR) 中国人民银行将于5月20日公布1/5年期贷款市场报价利率(LPR),截至目前,1年期LPR为3.1%,5年 期以上LPR为3.6%,LPR已连续6个月"按兵不动"。 值得一提的是,为实施好适度宽松的货币政策,加力支持实体经济,从2025年5月8日起,公开市场7天 期逆回购操作利率由此前的1.50%调整为1.40%,预计将带动LPR下行约0.1个百分点。 北京市委书记尹力调研并出席金融工作座谈会 5月16日上午,北京市委书记尹力围绕"服务国家金融管理中心建设,推动首都金融高质量发展"调查研 究,并召开金融工作座谈会。中央金融办分管日常工作的副主任王江,中国人民银行行长潘功胜,国家 金融监督管理总局局长李云泽,中国证监会主席吴清,北京市委副书记、市长殷勇分别参加。 北京市和中国证监会领导来到北京证券交易所,察看企业上市审核流程展示,了解北交所努力打造服务 创新型中小企业主阵地等情况。尹力指出,要深化北交所改革,不断完善制度设计,实现健康快速发 展。落实好北交所深改19条,推动上市企业扩围提质。 美国主权信用评级遭下调 国际信用评级机构穆迪5月16日 ...
信用策略备忘录:高波动率与防守策略要点
SINOLINK SECURITIES· 2025-05-17 13:56
Group 1: Quantitative Credit Strategy - The recent performance of perpetual bonds and broker bonds strategies has shown a high success rate as of May 9 [2] - Short-term strategies yielded limited excess returns, while mid to long-term strategies, excluding city investment duration and barbell strategies, showed positive excess returns [2][12] - Financial bonds and non-financial credit heavy strategies have widened the gap in cumulative excess returns over the past four weeks, particularly with increased yield elasticity in financial bond duration strategies [2][12] Group 2: Duration Tracking of Various Bonds - As of May 9, the weighted average transaction duration for city investment bonds and industrial bonds reached 2.09 years and 2.51 years respectively, both above the 90th percentile since March 2021 [3][15] - The weighted average transaction durations for secondary capital bonds, perpetual bonds, and general commercial bank bonds are 4.19 years, 3.59 years, and 2.30 years respectively [3][15] - Other financial bonds such as securities company bonds and insurance company bonds have varying durations, with some at historically low levels and others at high levels [3][15] Group 3: Yield Heatmap of Credit Assets - As of May 12, the valuation yield and spread of private enterprise real estate bonds are higher than other types of bonds [4][17] - Non-financial, non-real estate industrial bonds saw a yield decline of around 10 basis points, particularly in the one-year category [4][18] - Financial bonds with high valuation yields include leasing company bonds and securities subordinate bonds, with significant yield declines noted in certain categories [4][18] Group 4: Long-term Credit Bond Insights - The market shows weak willingness to increase long-duration credit bonds, despite the approaching low yields of government bonds and short-term assets [5][20] - Transaction volumes for mainstream long-duration industrial bonds have increased but remain below levels seen in late March, indicating insufficient trading sentiment to support long-term bond markets [5][20] - The recent week saw a decline in the transaction share of long-term credit bonds, falling below 70% [5][20] Group 5: Local Government Bond Supply and Trading Insights - The average coupon rates for 10-year, 20-year, and 30-year local government bonds are 1.79%, 2.07%, and 2.05% respectively, with varying spreads [6][23] - The liquidity in the interbank market remains reasonably ample, with moderate issuance volumes of local bonds, leading to stable supply pressure [6][23] - Long-term spreads continue to widen, but adjustments have led to a more stable outlook [6][23]
2025年首次全面降准落地生效,资金面有所收敛,债市继续回调
Dong Fang Jin Cheng· 2025-05-16 10:57
2025 年首次全面降准落地生效;资金面有所收敛,债市继续回调 【内容摘要】5 月 15 日,资金面有所收敛,债市继续回调;转债市场主要指数跟随收跌,转 债个券多数下跌;各期限美债收益率普遍大幅下行,主要欧洲经济体 10 年期国债收益率走势 分化。 一、债市要闻 (一)国内要闻 【中办、国办:鼓励各类金融机构积极参与城市更新,推动符合条件的项目发行 REITs、资产 证券化产品、公司信用类债券等】中办、国办近日印发《关于持续推进城市更新行动的意见》。 意见提到,加大中央预算内投资等支持力度,通过超长期特别国债对符合条件的项目给予支持。 中央财政要支持实施城市更新行动。地方政府要加大财政投入,推进相关资金整合和统筹使用, 在债务风险可控前提下,通过发行地方政府专项债券对符合条件的城市更新项目予以支持,严 禁违法违规举债融资。落实城市更新相关税费减免政策。鼓励各类金融机构在依法合规、风险 可控、商业可持续的前提下积极参与城市更新,强化信贷支持。完善市场化投融资模式,吸引 社会资本参与城市更新,推动符合条件的项目发行基础设施领域不动产投资信托基金(REITs)、 资产证券化产品、公司信用类债券等。 【2025 年央 ...
金价大跳水!品牌金饰价格回落至千元以内,较年内高点已跌去上百元
Sou Hu Cai Jing· 2025-05-15 19:22
Group 1 - The international gold price has experienced a significant decline, breaking through key levels of $3300 and $3200 per ounce, with a recent drop to $3120 per ounce, reflecting a weekly decline of over 4% [1][5] - Major financial institutions, such as Citigroup, have drastically lowered their gold price forecasts, reducing the three-month target from $3500 to $3150 per ounce, a decrease of 10% [5] - The decline in gold prices is attributed to improved US-China tariff negotiations, which have reduced market risk aversion and led to a phase of consolidation in the gold market [5] Group 2 - Despite the recent downturn, many analysts believe that gold prices may maintain high volatility in the medium to long term due to geopolitical tensions and global economic uncertainties, with central banks continuing to purchase gold [6] - The People's Bank of China reported an increase in gold reserves, reaching 73.77 million ounces by the end of April 2025, indicating sustained demand for gold [6] - UBS maintains a price forecast of $3500 per ounce for the next two years, with a potential peak of $3600, supported by the expectation of continued monetary easing by the Federal Reserve [8] Group 3 - The World Gold Council emphasizes the strategic importance of gold as a safe-haven asset amid increasing correlations and volatility in stocks and bonds, suggesting a long-term investment approach rather than speculative trading [9] - It is recommended that investors allocate 10% to 15% of their portfolios to gold, adjusting based on market conditions and individual risk tolerance [9]
存款利率迈入“1”时代,存定期还是买理财
Jin Rong Shi Bao· 2025-05-15 12:01
Core Viewpoint - The banking industry is experiencing a significant shift in deposit rates, with many banks reducing rates below 2%, leading to a migration of funds from deposits to wealth management products [1][2][3] Group 1: Wealth Management Market Trends - In April, the wealth management market saw a substantial increase, with total assets reaching 31.3 trillion yuan, an increase of 1.39 trillion yuan from the end of the previous year and 2.2 trillion yuan from the previous month [1] - Historically, the second quarter is a crucial period for the expansion of bank wealth management, with April being a key month for growth [1] - Factors driving the growth in April include a stable bond market and a reduction in deposit rates by several small and medium-sized banks, which has attracted more funds into wealth management [1][2] Group 2: Deposit Rate Changes - Since April, many banks, including joint-stock and local small and medium-sized banks, have announced a new round of deposit rate cuts, with fixed deposit rates for both one-year and five-year terms falling below 2% [2] - The decline in deposit rates is reducing the attractiveness of deposits, prompting banks to shift marketing resources towards wealth management products [2][3] Group 3: Performance Benchmark Adjustments - The average performance benchmark for newly issued RMB fixed-income wealth management products in April was 2.97% for the upper limit and 2.27% for the lower limit, with expectations for further declines [3] - The downward adjustment of performance benchmarks is influenced by market rate expectations, regulatory changes, and the prohibition of "manual interest supplementation" [3] - Despite the pressures on product yields, the comparative advantage of wealth management over deposits remains, and the overall scale of wealth management is expected to grow throughout the year [3]
央行、证监会等四部门,最新发布!
券商中国· 2025-05-15 11:59
中国人民银行 科技部 金融监管总局 中国证监会联合召开科技金融工作交流推进会 为贯彻落实党中央、国务院关于做好科技金融的决策部署,推动《加快构建科技金融体制 有力支撑高水平科 技自立自强的若干政策举措》落实,5月15日,中国人民银行、科技部、金融监管总局、中国证监会联合召开 科技金融工作交流推进会。中国人民银行行长潘功胜、科技部部长阴和俊、金融监管总局副局长肖远企、中国 证监会副主席李明出席会议并讲话。中国人民银行副行长陶玲主持会议,科技部副部长邱勇出席会议。 会议指出,党的二十届三中全会、中央金融工作会议、全国科技大会对科技金融作出明确部署,要求构建同科 技创新相适应的科技金融体制,加大对国家重大科技任务和科技型中小企业的金融支持,为加强和改进科技金 融工作指明了方向。金融管理部门、科技部门和金融机构要从党和国家事业发展全局的高度,深刻领会做好科 技金融工作对于加快建设科技强国、实现金融自身高质量发展的重要意义,聚焦科技创新的重点领域和金融服 务的短板弱项,深化金融供给侧结构性改革,推动金融、科技、产业融合发展,为加快建设科技强国和实现高 水平科技自立自强提供有力金融支撑。 会议认为,近年来金融和科技部门通 ...