Core Viewpoint - China is adjusting its foreign exchange asset allocation strategy in response to significant changes in the global financial landscape, leading to a decline in the attractiveness of U.S. Treasury bonds, which were once considered a safe investment [1][3]. Group 1: Shift in Asset Allocation - China is gradually reallocating its assets towards gold, RMB-denominated assets, and diversified economies along the Belt and Road Initiative, focusing on asset diversification and risk mitigation [3][5]. - The shift away from U.S. Treasury bonds is influenced by the 2022 freezing of Russian central bank assets, raising concerns about the safety of dollar-denominated assets amid potential sanctions [5][7]. - The increasing U.S. fiscal deficit and downgrading of U.S. Treasury credit ratings by international agencies have made investors wary of U.S. debt, reflecting a growing lack of confidence in the U.S. financial system [7][13]. Group 2: Internationalization of the RMB - In 2024, Saudi Arabia and China signed multiple oil trade contracts partially settled in RMB, enhancing the internationalization of the currency and providing China with more confidence to reduce its U.S. Treasury holdings [9][14]. - The number of countries participating in the RMB cross-border payment system is increasing, with RMB becoming the fifth largest global payment currency, indicating its growing international influence [14]. Group 3: Global De-dollarization Trend - The trend of de-dollarization is not unique to China, as emerging economies like India and Turkey are also accelerating their efforts to reduce reliance on the dollar by increasing gold holdings and expanding local currency settlements [15]. - Major economies, including Saudi Arabia, Russia, and Japan, are reducing their U.S. Treasury holdings, indicating a global shift in capital flows and a gradual move towards a multi-currency system [13][15]. - The global financial market is witnessing a mainstream trend of de-dollarization, with countries adjusting their strategies to navigate the changing financial landscape [17].

Core Insights - Sun Life and Aflatoun International launched the Brighter Financial Futures program to enhance financial literacy among domestic workers in Asia, specifically targeting Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam [1][3][4] Group 1: Program Overview - The program aims to cover over 30,000 domestic workers in Asia over a 12-month period through workshops, toolkits, and training courses tailored to different employment stages [3][4] - The initiative is designed to provide practical financial knowledge focusing on emergency savings, future planning, and prevention of informal lending and common scams [4] Group 2: Strategic Importance - Domestic workers represent a crucial support system for the economic and social structure in Asia, yet they often lack access to financial education [3][4] - The collaboration with Aflatoun International significantly expands Sun Life's influence in promoting financial literacy across the region [4] Group 3: Educational Approach - The courses will combine online and offline formats to empower participants with confidence and skills in managing their finances [4] - The program also aims to foster psychological resilience and promote healthy family relationships through sustainable planning and communication [4] Group 4: Organizational Background - Sun Life is a leading international financial services organization with a total asset management of CAD 1.62 trillion as of September 30, 2025 [5] - Aflatoun International focuses on social and financial education to empower children and youth, having reached over 100 million children globally since its inception in 2005 [5]

四、融资招商：股权融资、债权融资、产业链融资、招商融资、创投对接等。 五、数据确权、数据资产化服务；传统资产RWA上链及香港代币化融资服务。 汇东财金网的核心价值是为成长型企业提供全方位的挂牌上市服务，帮助企业渡过生命周期的多个阶段，无论是IPO、筹集早期股本、安排夹层资本、增发 股票、发行债券还是并购重组，都能为企业提供专业及定制化的咨询辅导服务。 汇东财金网是由美国证券公司和香港持牌法团指导、北京汇东财金管理咨询有限公司负责运营的专注企业挂牌上市服务平台， 是一个帮助中国中小企业从 国内市场进入国际资本市场的一站式上市服务机构，一站式全流程上市辅导咨询公司。主要为国内企业提供： 一、国内外上市：美国纳斯达克上市、香港上市、国内主板、中小板、科创板、创业板、北交所上市等。 二、企业挂牌：美国OTC挂牌上市、新三板挂牌、新四板挂牌、上股交挂牌、港股交挂牌、前海新四板挂牌、北京国际大数据交易所挂牌、上海数据交易所 挂牌、深圳数据交易所挂牌上市以及全国各地股权交易中心挂牌等。 三、企业全案咨询梳理辅导：商业计划书、企业估值、战略定位、品牌、商业模式、顶层设计、股权架构、股权激励、上市路径规划等。 Apr 201 ...

Core Insights - The silver market is currently facing short-term selling pressure due to rebalancing, but there are no significant signs of a major correction following its best annual performance since 1979. Long-term factors such as the continuation of the Federal Reserve's interest rate cuts, declining dollar credibility, rising geopolitical risks, and ongoing central bank gold purchases are expected to maintain a bullish trend for silver [1] Group 1: Market Analysis - Goldman Sachs' latest analysis report warns of potential extreme price volatility in the silver market by 2026 due to persistently low inventory levels, which make prices highly sensitive to capital flows [1] - The report highlights that the weak inventory environment has created favorable conditions for market squeezes, where an influx of investor capital can rapidly absorb remaining silver in London vaults, leading to accelerated price increases [1] - The severe price fluctuations in the silver market are not directly caused by global supply shortages but rather by specific regional supply bottlenecks, particularly in London, which is a key location for global benchmark pricing [1] Group 2: Regulatory Impact - A significant variable is the new export restriction measures to be implemented by a major Asian country in 2026, requiring official approval for all silver exports. This policy is expected to exacerbate market volatility and could lead to fragmentation in the global silver market [2] Group 3: Current Market Trends - On Thursday, silver opened at 78.275, experienced a strong pullback to 70.02, and then rallied to close at 76.98, forming a long lower shadow hammer candlestick. The market is testing the upward trend line at 74.03, which has provided support since the major low of 48.64 on November 21 [2] - On Friday, silver prices showed volatility, enhancing bullish momentum against the EMA50 support, particularly after the relative strength index indicated positive signals following an oversold condition, suggesting a dominant bullish trend in the short term [2]

承办检察官初步审查全案证据时，注意到关键细节，谢某在讯问中提及账户异常后曾主动报案，这是印 证其是否具有犯罪主观故意的核心依据。再次讯问后，又发现三点未被关注的事实，一是谢某此前已向 侦查机关提出无罪辩解，并提交了企业资金需求证明、贷款沟通记录等材料；二是谢某因担心黄某受牵 连，曾默认与"上线"韩某直接沟通贷款事宜，隐瞒了黄某实际对接的真相；三是事后告知公安机关，黄 某在账户异常后向当地派出所报过案。 案件关键争议点随之明确，谢某是"明知犯罪仍提供帮助"，还是"为办贷款被欺诈出借账户"？为查清真 相，我院启动自行补充侦查，围绕谢某是否有"贷款需求""获利目的""犯罪故意"三个维度开展实质性取 证。为查明谢某是否有真正的贷款需求，我院重点补充询问证人黄某。黄某证实，是他为帮企业解决融 资难题，通过朋友联系到自称"某正规金融公司"的对接人韩某；同时，承办检察官实地走访企业，查阅 近三年财务报表、纳税记录及业务合同，确认企业当时确有资金缺口，提供账户、U盾系出于正常经营 需求。 那谢某是否具有获利目的？我院前往派出所调取原始报案记录、接警回执及询问笔录。记录显示，谢某 发现公司账户资金非经营性流转后，仅3小时就到公 ...

Group 1 - The report highlights that the service industry is increasingly merging with technology, leading to the emergence of top-tier listed companies in sectors such as fintech, logistics, enterprise services, and healthcare [2][10] - Countries are exploring unique paths to develop their service industries, with examples including the U.S. focusing on fintech innovation, Germany emphasizing industrial design, and Singapore building digital infrastructure [2][10] - China's national strategy aims to enhance service industry capacity and quality through targeted policies, including the removal of entry barriers in key sectors like telecommunications and healthcare [2][39] Group 2 - The report identifies three main investment directions in the service industry: productive services, lifestyle services, and emerging services [2][45] - Productive services are seen as a core engine, with sectors like testing, industrial software, and financial services highlighted for their growth potential [2][3][45] - Lifestyle services are focused on improving living standards and consumption upgrades, with high growth observed in areas such as gaming, aviation, and tourism [3][45] Group 3 - Emerging services are positioned as key to cultivating new productive forces, with rapid developments in AI and the integration of healthcare and pharmaceutical services [4][45] - The report emphasizes the importance of cross-border e-commerce as a new growth driver for foreign trade, leveraging China's supply chain advantages [4][45] - Specific companies such as Cintas and CVS Health are cited as examples of successful service firms in the U.S., showcasing effective business models and market strategies [1][15][18]

Group 1 - The article discusses tax incentives for enterprises engaged in agriculture, forestry, animal husbandry, and fishery projects, emphasizing that companies involved in restricted or prohibited projects cannot enjoy these tax benefits [2] - Enterprises involved in the cultivation and planting of trees and bamboo can enjoy tax exemptions on income derived from breeding, nurturing, and managing these plants, as well as from re-cultivating trees acquired through auction or purchase after a growth period [2] - Companies that purchase agricultural products for replanting or breeding in their own or rented spaces can qualify for tax incentives if the biological form changes without significantly increasing the product's value through processing [2] Group 2 - The "company + farmer" operational model allows companies to engage in livestock and poultry farming by contracting farmers to raise animals, with the company providing necessary resources while retaining ownership, thus qualifying for tax incentives [2] - Enterprises directly involved in initial processing of agricultural products that meet the criteria for tax incentives can benefit from reduced corporate income tax rates as outlined in relevant regulations [2]

1.稳定与引领市场情绪：通过实际行动对冲传统业务调整可能带来的短期不确定性，同时向市场展示管 理层对新兴Web3业务的定力与担当。 2.明确对齐未来利益：强化"关键人"与中小股东在公司未来核心增长曲线(Web3)上的利益一致性，提振 投资者对公司治理及战略执行层面的信任度。 3.确认未来资本投向：结合停止放债业务的决策，市场可以合理预期公司未来重新配置的资本将重点用 于支持Web3基础设施的完善及像Whimland这样的应用平台扩张，为公司的价值重塑打开了巨大想象空 间。 天机控股有限公司(01520)于2026年1月9日自愿发布公告，公司董事会主席兼执行董事梅唯一先生于当 日在公开市场购入150万股公司股份。此次增持完成后，梅唯一先生合计持有(包括实益拥有的股份及根 据股份奖励计划授予的奖励股份)公司已发行股本总额约2.39%。公司表示，此次增持是基于梅先生对公 司未来发展前景的坚定信心，旨在促进公司持续、稳定、健康发展，维护公司及全体股东的整体利益， 并增强投资者信心。 此次增持行动虽未披露具体金额，但其象征意义与市场信号不容忽视。在市场波动时期，核心管理层尤 其是董事会主席的增持行为，通常被视为对公司内 ...

Core Insights - The article highlights the significant investment activities and developments in the LP market, particularly focusing on the growth of funds in the Chaoyang District of Beijing and other regions, emphasizing the importance of capital in fostering innovation and technology-driven industries [5][6][13]. Investment Activities - Chaoyang District has established a robust ecosystem for high-tech enterprises, with 3,649 national high-tech companies and 25 unicorns projected by mid-2025 [5]. - Two new RMB funds, each with a scale of 2 billion yuan, have been launched to invest in AI, advanced manufacturing, and biopharmaceuticals [6][13]. - Huaye Tiancheng's fifth fund raised 1.76 billion yuan, exceeding its initial target of 1.5 billion yuan, with a high market-oriented capital ratio of 80% [8]. - Lakesun Capital's new fund focused on AI and semiconductor industries raised 400 million yuan [9]. - Dongfang Jiafu's sub-fund for small and medium enterprises successfully completed a first close of 1.6 billion yuan, targeting advanced manufacturing and life sciences [10]. - Warburg Pincus raised 3 billion USD for its financial sector fund, exceeding its initial target by 20% [11]. Fund Establishments - The establishment of the Xi'an Semiconductor Industry Development Fund with a capital of 1 billion yuan aims to leverage Xi'an's technological advantages in the semiconductor sector [15]. - The AIC equity investment fund in Xi'an, with a scale of 1 billion yuan, focuses on high-end equipment manufacturing [17]. - The Huazhong Medical Industry Fund, with a scale of 1 billion yuan, targets chemical innovation drugs and high-end medical devices [23]. - The establishment of the "Laoshan Science and Technology Innovation Mother Fund" with a total scale of 3 billion yuan aims to support emerging industries in Qingdao [20]. GP Recruitment - Zhejiang's special merger and acquisition fund is seeking GP partners to enhance its investment ecosystem, focusing on new-generation information technology and advanced manufacturing [27]. - The Shanxi Jinchuang Technology Innovation Fund is recruiting GP partners to support strategic emerging industries in the province [28].

Core Viewpoint - Egypt's inflation rate remained unchanged at 12.3% in December, which may create conditions for the central bank to further lower borrowing costs in 2026 [1][3]. Inflation Data - The urban consumer price index in December showed a month-on-month inflation rate of 0.2%, down from 0.3% in November [1][3]. - Egypt experienced a historical peak inflation rate of 38% in September 2023 and received $57 billion in global rescue funds, leading to ongoing efforts to control inflation [1][3]. Factors Affecting Inflation - Despite a significant reduction in overall inflation over the past year, recent adjustments in fuel subsidies supported by the International Monetary Fund and a legal amendment causing rent increases for millions of properties have prevented inflation from falling to single-digit levels [1][3]. - Food and beverage prices, which constitute the largest single category of inflation, increased by 1.5% year-on-year in December but decreased by 0.7% month-on-month [4]. Monetary Policy and Interest Rates - The decline in inflation has provided the central bank with room to lower interest rates, resulting in a cumulative reduction of 725 basis points over five monetary policy meetings [4]. - The current benchmark deposit rate stands at 20%, with the next rate decision scheduled for February 12 [4]. - Goldman Sachs predicts that the benchmark deposit rate may be further reduced by 700 basis points by 2026 [4].