格隆汇1月12日｜A股三大指数今日继续上涨，沪指录得17连阳；截至收盘，沪指涨1.09%报4165点，深 证成指涨1.75%，创业板指涨1.82%。全市场成交额达3.64万亿元创历史新高，较前一交易日增量4922亿 元，超4100股上涨。 | 上证指数 | 深证成指 | 北证50 | | --- | --- | --- | | 4165.29 | 14366.91 | 1605.77 | | +44.86 +1.09% +246.76 +1.75% +81.51 +5.35% | | | | 科创50 | 创业板指 | 万得全A | | 1511.84 3388.34 6853.53 | | | | +35.87 +2.43% +60.53 +1.82% +115.78 +1.72% | | | | 沪深300 中证500 中证A500 | | | | 4789.92 8249.13 5948.70 | | | | +30.99 +0.65% +192.44 +2.39% +66.75 +1.13% | | | | 中证1000 | 中证2000 | 中证红利 | | 8357.01 | 3507.11 | ...

新华财经上海1月12日电 随着2026年"十五五"规划开局之年的到来，资本市场改革深化与资产配置方向 成为市场关注焦点。近日，在2026年中国首席经济学家论坛年会上，多家机构首席经济学家围绕资本市 场发展与资产配置展开探讨。总体而言，首席经济学家普遍认为2026年资本市场机遇与挑战并存。 在改革深化推动长期资金入市、筑牢慢牛基石的背景下，资本市场将呈现"水涨船高"的整体态势，但波 动加剧与结构分化也对投资策略提出了更高要求。投资中聚焦科技主线、把握商品轮动、配置优质红利 资产，同时需警惕一致性预期带来的波动风险。 三端发力深化改革引长期资金筑慢牛基石 当前，培育"慢牛长牛"格局、增强市场活力已成为资本市场改革的核心目标，而吸引耐心资本与中长期 资金入市、完善交易机制则是实现这一目标的关键路径。 德邦证券首席经济学家程强进一步明确了改革的三大聚焦方向。在融资端，注册制深化需在聚焦一级市 场硬科技投资的基础上，进一步提升IPO审核中技术路线可行性的权重，淡化短期盈利要求，创新估值 定价方式。在投资端，需放宽长期资金在产业投资领域的限制，为机构资金入市扫清障碍。在交易端， 则应追求相对公平的交易环境，建立更有利于中 ...

红星资本局根据Wind统计发现，A股成交额自2025年12月26日突破2万亿元以来，已经连续10个交易日稳定在2万亿元以上，并在1月9日突破3万亿元大关。 | | | A股成交额超2.6万亿交易日一览 | | | --- | --- | --- | --- | | | 日期 | 成交量(亿股) 成交額(亿元) | | | | 2026-01-12 | 2,008. 741 | 36, 446. 14 | | | 2024-10-08 | 2, 890. 60 | 34, 697. 61 | | 3 | 2025-08-27 | 2, 012. 58 | 31, 973. 38 | | 4 | 2025-08-25 | 1, 968. 26 | 31, 768. 40 | | 5 | 2025-09-18 | 1, 961. 73 | 31, 665. 28 | | 6 | 2026-01-09 | 1, 754. 62 | 31, 523. 68 | | 7 | 2025-08-28 | 1, 859. 43 | 30, 007. 19 | | 8 | 2024-10-09 | 2, 260. 77 | 29 ...

Core Viewpoint - The Financial Regulatory Administration has responded to various proposals from the National People's Congress and the Chinese People's Political Consultative Conference, outlining directions for the high-quality development of agricultural insurance, including the revision of the Agricultural Insurance Regulations and the enhancement of green agricultural insurance [1]. Group 1: Agricultural Insurance Regulation Revision - The Financial Regulatory Administration acknowledges the importance of revising the Agricultural Insurance Regulations to enhance the agricultural insurance system, which was first implemented in March 2013 and revised in 2016, establishing a legal framework for agricultural insurance in China [2][3]. - The existing agricultural insurance legal framework has proven effective and aligns with China's national conditions, leading to significant growth in the sector since the implementation of the regulations [3]. Group 2: Technological Integration in Agricultural Insurance - The Financial Regulatory Administration is promoting the integration of technology in agricultural insurance, enhancing underwriting and claims processes through the use of big data, satellite remote sensing, and other advanced technologies [4][5]. - A nationwide agricultural insurance information management platform is being developed to facilitate data sharing among insurance institutions, thereby improving risk management capabilities [5]. Group 3: Green Agricultural Insurance Development - The Financial Regulatory Administration is focusing on establishing a green agricultural insurance service system that supports sustainable agricultural development and ecological risk management through insurance mechanisms [6]. - Insurance companies are encouraged to collaborate with research institutions to develop risk assessment models based on big data and remote sensing technology, improving the precision of risk evaluations [6][7]. Group 4: Agricultural Employment Insurance Products - The Financial Regulatory Administration is guiding insurance companies to develop agricultural employment insurance products to mitigate employment risks, particularly for flexible employment in the agricultural sector [8]. - Employer liability insurance has become an important supplement to the labor protection system, addressing the needs of new employment forms and contributing to social stability [8].

丨证券研究报告丨 行业研究丨行业周报丨投资银行业与经纪业 [Table_Title] 政策持续净化资本市场生态，建议重视板块业绩 高增长预期 报告要点 [Table_Summary] 本周非银板块整体表现较强。券商方面，本周市场交投有所提升，整体仍然维持历史高位，持 续看好板块后续业绩；保险方面，中长期来看三季报以来印证了存款搬家、增配权益和新单成 本改善逻辑，中长期 ROE 改善确定性进一步提升，估值有望加速修复，结合中长期拐点向上 的判断，我们认为整体配置性价比正逐步提高，板块重估进行时。 分析师及联系人 [Table_Author] SFC：BUV596 吴一凡 谢宇尘 程泽宇 SAC：S0490519080007 SAC：S0490521020001 SAC：S0490524090001 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 投资银行业与经纪业 cjzqdt11111 [Table_T 政策持续净化资本市场生态，建议重视板块业 itle2] 绩高增长预期 [Table_Summary2] 核心观点 1）本周非银板块整体表现较强。券商方面，本周市 ...

摘要： 在保险行业面临转型挑战、亟待突破传统痛点的关键时期，星火保基于"保险需求动态诊断算法系统""大数据智能 AI 平台"以及产品与服务的双重变革，实现保障的精准匹配、提升各环节效率与体验、降低用户理解门槛、打造 灵活多元的服务生态，由此构建起"以用户为中心"的数字化保险服务新模式。 关键词：保险服务、AI赋能、金融科技、智能化 案例正文： 当前，中国保险行业正处于"强监管、促转型、提效能"的关键发展阶段。一方面，监管部门持续出台 "防风险、 去杠杆" 政策，推动行业从规模扩张向高质量发展转型，传统粗放式的经营模式难以为继；另一方面，消费者需 求呈现出 "个性化、场景化、动态化" 特征，80 后、90 后等新一代消费群体对保险服务的便捷性、精准性要求显 著提升，而传统保险运营模式通常存在的"获客成本高、产品同质化、服务响应慢、需求匹配错" 等痛点。 在此背景下，如何借助金融科技打破传统服务桎梏，实现保险服务的精准化、智能化、个性化升级，成为行业转 型的关键课题。 "星火保"平台借助自身的信息流内容生成和投放能力，通过科技创新生产力，自主研发算法系统、大数据智能 AI 平台及大模型技术，对保险服务全链条进行重 ...

图片来源：视觉中国 据智通财经盯盘数据，1月12日，沪深两市成交额3.6万亿元，较上一个交易日放量4787亿元，刷新此前在2024年 10月8日创下的34549.33亿元的成交额历史纪录。这也是两市成交额2026年第二次、历史上第六次突破3万亿大 关。其中，沪市成交额1.45万亿元，深市成交额2.16万亿元。蓝色光标成交额居首，为235.89亿元。 此前，1月9日，沪深两市成交额时隔73个交易日后再度站上3万亿大关，也是今年首次突破3万亿。此前在2024年 10月8日、2025年8月25日、8月27日和9月18日，两市成交额曾四次突破3万亿。 | 序号 | 日期 | 成交额(亿元) | | --- | --- | --- | | 1 | 2024-10-08 | 34549.33 | | 2 | 2025-08-27 | 31655.63 | | 65 | 2025-08-25 | 31411.36 | | র্ব | 2025-09-18 | 31351.72 | | 5 | 2026-01-09 | 31227.67 | | 6 | 2025-08-28 | 29708.02 | | 71 | 2024- ...

据Wind统计，A股成交额突破3万亿元此前总共发生了6次，分别是2024年10月8日，2025年8月25日、8 月27日、8月28日和9月18日，2026年1月9日。 截至1月12日下午收盘，沪指涨超1%，录得"17连阳"，深证成指涨1.75%，创业板指涨1.82%。全市成交 额3.64万亿元，刷新此前在2024年10月8日创下的34549.33亿元的成交额历史纪录，再创新高；超4100只 个股上涨。 板块方面，商业航天、AI应用两大方向领涨市场，脑机接口概念走高，电商、短剧游戏等板块领涨； 算力硬件、保险、油气等方向跌幅居前。 "当前，A股的火热历史罕见，连回调都没有！"一位广州的老股民李先生惊呼，1月12日上午开盘仅一 个小时，两市成交量接近1.7万亿，半日成交额破2.31万亿元，资金跑步进场，热点全面开花。截至上午 收盘，沪指报4151.14，涨0.75%；深成指涨1.31%，创业板指走出"V"字反弹，涨1.17%。 中航证券首席经济学家董忠云认为，从2026年第一周来观察，春季躁动或已迎来主升浪，行情主要来自 基本面、政策面和基本面改善的支撑。他指出，2025年12月国内通胀数据持续改善，其中，CPI ...

Group 1 - The current market uptrend is supported by long-term capital inflows and strong performance from the insurance sector, with the A500 ETF seeing significant net inflows of nearly 100 billion RMB in December 2025, contributing to market buoyancy [4][8][12] - The "spring rally" is characterized by a seasonal pattern in the A-share market, typically occurring from late December to the first quarter, driven by macroeconomic policies, liquidity conditions, and the timing of financial reports [5][22][24] - Historical data from 2016 to 2025 indicates that the spring rally usually starts in late January and lasts about 30 trading days, with an average index increase of approximately 15% [24][25][31] Group 2 - The macroeconomic environment for 2026 is expected to remain in a weak recovery phase, with structural support for technology-related sectors likely to continue, as policies emphasize growth and technological advancement [33][37][38] - The transition from old to new economic drivers is showing initial results, with several high-tech companies moving from policy-driven growth to performance validation, which is crucial for sustained investment confidence [40][41][45] - The market is likely to experience active trading with structural opportunities rather than a broad-based rally, as long-term capital and policy support create a conducive environment for thematic investments [48][49][50] Group 3 - Investment recommendations suggest prioritizing small-cap growth and innovation-driven sectors, as these areas are expected to benefit from improved liquidity and risk appetite [57][58] - The strategy should focus on short-term trend tracking and rapid rotation among themes, as the market dynamics are driven more by policy and industry expectations than by fundamental improvements [60][61] - The securities and financial technology sectors are expected to benefit from increased trading volumes and active leverage, while the insurance sector is positioned for long-term growth due to favorable market conditions and improved investment returns [63][64]

商业航天概念反复活跃，天润科技、星图测控、流金科技30CM涨停，天力复合、富士达、并行科技、中泰股份、华力创通、信科移 动、科大国创等纷纷大涨。 | 代码 名称 | 现价 涨跌 涨幅� | | --- | --- | | 920564 大润科技 | 34.93 +8.06 +30.00% | | 920116 星图测控 | 130.16 +30.03 +29.99% | | 920021 流金科技 | 9.51 +2.19 +29.92% | | 920576 天力复合 | 119.99 +23.97 +24.96% | | 920640 富士达 | 56.00 +10.00 +21.74% | | 920493 并行科技 | 187.00 +32.55 +21.07% | | 300435 中泰股份 | 31.60 +5.27 +20.02% | | 300045 华力创通 | 37.42 +6.24 +20.01% | | 688387 信科移动-U | 19.01 +3.17 +20.01% | | 300520 科大国创 | 48.52 +8.09 +20.01% | | 688333 铂力特 | 1 ...