就在刚刚，美国参议院以48票对47票的微弱优势，通过对斯蒂芬·米兰出任美联储理事会成员的提名。 米兰将参与9月16日开始为期两天的美联储会议。据悉，米兰曾在特朗普第一任总统任期内担任美国财 政部经济政策高级顾问，并拥有哈佛大学经济学专业的博士学位。 圣路易斯联邦储备银行前总裁布拉德表示，他上周与财政部长贝森特就出任美联储主席一职进行了交 流，并表示他对这一职位非常感兴趣。 据CME"美联储观察"最新消息，美联储本周降息25个基点的概率为95.9%，降息50个基点的概率为 4.1%。美联储10月累计降息25个基点的概率为23.1%，累计降息50个基点的概率为73.8%，累计降息75 个基点的概率为3.1%。 此外，当地时间15日，特朗普在社交平台发帖威胁称，将在必要时宣布美国全国进入紧急状态，并对华 盛顿特区进行全面联邦管制。 美联储大消息 北京时间16日早上，特朗普提名的美联储理事候选人米兰在美国参议院获得确认任命的足够票数。米兰 的美联储理事提名获参议院及时确认，可以赶上本周的利率会议。 美联储，传来大消息！ 隔夜，美股三大指数集体收涨，道琼斯指数涨0.11%，标普500指数涨0.47%，纳斯达克综合指数涨 ...

Group 1: Federal Reserve and Economic Indicators - The Federal Reserve is expected to lower interest rates by 25 basis points, but a larger cut is not completely ruled out [1][2] - Recent inflation data shows a year-on-year CPI increase of 2.9% and a month-on-month increase of 0.4%, indicating the fastest price rise since January [1][2] - The job market is showing signs of weakness, with an average of only 29,000 new jobs added over the past three months, while a monthly addition of 80,000 is needed for economic stability [2][3] Group 2: European Economic Concerns - Fitch downgraded France's long-term sovereign rating from AA- to A+, citing political instability and difficulties in reducing fiscal deficits [3][4] - France's government debt has risen from 94% to 114% over the past decade, with economic growth stagnating around 1% [4][5] - Both France and the UK are facing significant fiscal challenges, with the potential for a slow-burning fiscal crisis if market confidence deteriorates [5][6]

该书开篇即从理论高度阐述了金融与产业、创新、政策之间的复杂互动关系，深刻揭示了"科技— 产业—金融"循环的内在机理。作者运用翔实的数据支撑和严谨的横向国际比较、纵向历史分析，将科 技金融发展置于全球产业演进的历史坐标系中予以考察：一方面，细致梳理我国科技金融从萌芽到成熟 的发展轨迹；另一方面，深入剖析以美国为代表的发达经济体科技创新体系，不仅总结了美国在"创新 产生"阶段的制度优势和金融支持模式，还敏锐捕捉到德国、日本在"创新扩散"阶段的制度智慧。 基于对全球经验的系统研究，作者针对我国产业发展特征，以创新生命周期为主线，提出了我国实 现创新链与资金链的有机衔接和螺旋上升的制度链。其核心价值在于：在市场机制有效的领域充分激发 创新主体活力，在市场失灵的环节精准补位制度供给。这一框架突破了传统的市场与政府之间非此即彼 的二元思维，创新政府与市场双轮驱动的新型治理范式，为科技金融的制度设计提供了更为精细的理论 工具和操作指南。 模式选择：解构银行服务的范式蝶变 在理论探讨的基础上，该书第三章转向中国语境下的科技金融实践，特别是商业银行这一传统金融 机构如何突破固有模式，将服务"创新扩散"的传统优势向"创新产生"扩 ...

来源：滚动播报 美股三大指数收涨，纳指涨0.72%，标普500指数涨0.85%，道指涨1.36%。大型科技股涨跌不一，特斯 拉涨超6%，苹果涨超1%，谷歌微涨，英特尔跌0.65%，AMD跌超2%，甲骨文跌超6%。 ...

Market Performance - The Nasdaq Composite Index reached a new all-time high of 21,992.57 points, up 0.49% on the day [1] - The Dow Jones Industrial Average rose by 1.20%, while the S&P 500 increased by 0.63%, both also hitting record highs [1][2] Major Tech Stocks - Tesla saw a significant increase of over 3%, while Nvidia, Amazon, Apple, and Microsoft experienced slight gains [2] - Google and Meta reported declines in their stock prices [2] - Oracle's stock fell by 4.20% after a previous surge of 36%, resulting in a market cap increase of approximately $250 billion [3] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by over 2.7%, with Alibaba surging by 8% and NIO increasing by over 5% [5][6] Economic Indicators - The U.S. Consumer Price Index (CPI) for August rose by 2.9% year-over-year, matching expectations, and increased by 0.4% month-over-month, slightly above the forecast [7] - Core CPI also met expectations, rising by 3.1% year-over-year and 0.3% month-over-month [7] - Following the CPI and employment data release, the U.S. dollar index fell by 0.33% [7][8] Federal Reserve Outlook - Market expectations indicate a high probability of a 25 basis point rate cut by the Federal Reserve on September 17, with some analysts suggesting the possibility of a 50 basis point cut [9] - Analysts believe that the labor market's weakness outweighs inflation risks, leading to expectations of further rate cuts in the coming months [9]

Market Performance - The MSCI Global Index, tracking over 2,500 stocks, has set new records for four consecutive trading days, while the S&P 500 Index closed at historical highs for two consecutive days [2][4] - Major indices such as Japan's Nikkei 225, South Korea's Composite Index, and Singapore's Straits Times Index have also reached all-time highs this week [2] Economic Indicators - A weaker-than-expected U.S. Producer Price Index (PPI) for August, which fell by 0.1% month-on-month, has fueled expectations for interest rate cuts [5][6] - The market anticipates a 92% probability of a 25 basis point rate cut at the upcoming Federal Reserve meeting on September 17 [6] Corporate Earnings - Strong corporate fundamentals are providing a solid foundation for the stock market's rise, with robust economic growth and corporate earnings supporting returns across major markets, including the U.S., Europe, Japan, and Asia [7] - Oracle's impressive performance, driven by optimistic AI-related revenue forecasts, saw its stock soar to an all-time high, adding $244 billion to its market capitalization in a single day [7] Market Sentiment - The current market rally signifies a rapid reversal in sentiment, moving from concerns over persistent inflation and geopolitical risks to a more optimistic outlook [8] - Analysts are closely monitoring the upcoming U.S. Consumer Price Index (CPI) data, as a surprising decline could further bolster expectations for larger rate cuts [8]

Core Viewpoint - The announcement details the completion of the second vesting period for the 2022 restricted stock incentive plan of the company, with a total of 33,290 shares to be listed for trading on September 16, 2025 [2][3][11]. Summary by Sections Incentive Plan Overview - The stock listed is part of an equity incentive plan, with the subscription method being offline [2]. - The total number of shares for this listing is 33,290 [3]. Procedures Followed - The company held board and supervisory meetings on April 29, 2022, to approve the incentive plan and its management measures [4]. - A public notice regarding the incentive plan's participants was conducted from April 29 to May 8, 2022, with no objections received [4]. - The annual shareholders' meeting on May 25, 2022, approved the incentive plan and authorized the board to handle related matters [4][5]. - Subsequent meetings confirmed the eligibility of participants and the conditions for granting restricted stock [5][6]. Adjustments and Conditions - The grant price for the restricted stock was adjusted multiple times due to corporate actions, with the final adjustment being 15.246 yuan per share [9]. - The company has also dealt with the cancellation of unvested shares due to participants no longer qualifying [7][8]. Vesting and Shareholder Impact - The second vesting period has been confirmed, with 5 participants qualifying for the shares [11]. - The total share capital will increase from 459,291,145 shares to 459,324,435 shares following this vesting [11]. - The impact on the company's financials is minimal, with the newly vested shares representing approximately 0.0072% of the total shares, and the basic earnings per share will be diluted accordingly [12].

Core Viewpoint - The company is actively pursuing project collaborations and order opportunities, indicating a positive outlook for business development and operational improvement [1] Group 1: Business Performance - In the first half of 2025, the company has seen improvements in its overall business operations and sales scale [1] - Measures taken to stabilize the main business and enhance sales have yielded certain positive results [1] Group 2: Strategic Initiatives - The company is engaging in extensive communication and negotiations with relevant enterprises, local governments, and industry research institutions to explore collaboration opportunities [1] - There is a focus on planning for business transformation and upgrading [1] Group 3: Commitment to Stakeholders - The company is committed to continuously improving its profitability and governance standards [1] - There is an emphasis on actively returning value to investors [1]

Group 1 - Heisai Technology has officially launched its global offering plan after passing the Hong Kong listing hearing on September 5 [1] - The company is offering 17 million Class B shares globally, which includes 1.7 million shares for the Hong Kong public offering starting on September 8 and 15.3 million shares for the international offering starting on September 6 [1] - The maximum price for the Hong Kong public offering is set at HKD 228.00 or USD 29.04 per share, with the stock to be dual-listed on the Hong Kong Stock Exchange under the code "2525" [1] Group 2 - Heisai Technology has signed cornerstone investment agreements with several institutions, including HHLR Advisors, Taikang Life, WT Asset Management, Grab, Hon Hai Group, and Commando Global Fund [1]

Core Viewpoint - The upcoming interest rate cuts by the Federal Reserve are expected to trigger a significant revaluation of global assets, including stocks, gold, Bitcoin, and real estate, as a response to economic pressures and weak employment in the U.S. [1][9][27] Economic Background - The primary driver for the impending rate cuts is the weakness in the U.S. labor market, with non-farm payrolls adding only 73,000 jobs in July 2025, significantly below the expected 110,000 [3] - The downward revision of job data for May and June, totaling a loss of nearly 260,000 jobs, indicates a more severe labor market weakness than anticipated [3] Fiscal Pressure - U.S. federal debt has surpassed $37 trillion, with interest payments becoming a substantial burden on the fiscal budget [5] - In a high-interest environment of 5%, debt interest payments are projected to approach $1 trillion by 2025, accounting for nearly 15% of annual tax revenue [5] - A 1% decrease in interest rates could save the U.S. government approximately $370 billion annually in interest payments, making rate cuts an attractive option to alleviate fiscal pressures [5] Monetary Policy Shift - The Federal Reserve's approach is shifting from a strict focus on controlling inflation to a more flexible "balancing" strategy, allowing for inflation to fluctuate around the 2% target [7] - This change in policy framework provides greater room for interest rate cuts [7] Asset Market Impact - The anticipated rate cuts will lead to a profound "value revaluation" in global asset markets, particularly affecting stocks, gold, and Bitcoin [9][10] - Historically, the S&P 500 index has seen an average increase of about 18% in the 12 months following a rate cut [12] - Growth stocks and small-cap stocks are expected to benefit significantly due to a decrease in cash flow discount rates [12] Gold and Bitcoin Dynamics - Gold typically performs well during rate cut cycles, with historical data showing a success rate of over 70% and an average increase of nearly 10% [15] - Bitcoin, as a high-risk asset, may attract new capital in a low-rate environment, although its volatility necessitates cautious investment strategies [17] Currency Implications - The dollar, as the global reserve currency, faces depreciation pressure due to interest rate cuts, with the dollar index experiencing its worst half-year performance since 1973 [19] - This situation may benefit other currencies and assets, challenging the dollar's reserve status [19] Investment Strategies - Investors are advised to maintain an emergency reserve of 3-6 months of living expenses and consider money market funds and short-term bond funds for liquidity and stability [21] - It is recommended to lock in long-term low rates for floating-rate loans and prioritize paying off high-interest credit card debt [23] - A diversified asset allocation strategy is crucial for risk management and wealth growth, with defensive, balanced, and aggressive investment layers suggested [25]