这是俄罗斯历史上首次公开将黄金储备用于财政支出。 以下文章来源于盐财经 ，作者凌川儿 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 本文来自微信公众号： 盐财经 ，作者：凌川儿，编辑：江江，题图来自：AI生成 "俄罗斯央行最近出售黄金是一个重要提醒和信号。就我个人而言，此前我也持有部分黄金作为资产 组合一部分，但最近我已卖掉。"近日，半夏投资创始人李蓓对黄金的鲜明观点，引发了广泛关注与 热议。 过去两年，中国央行等多国央行是黄金的主要买家，最近这个因子开始变化。 据新华社报道，俄罗斯中央银行11月20日向俄罗斯国际文传电讯社确认，该行已开始出售储备的实 物黄金，以弥补国家预算所需资金。 此举延续了此前与国家财富基金 （NWF） 黄金交易的操作模式，不过此前交易大多以虚拟方式进 行，政府将黄金出售给央行，或可看作是两方之间的"账面调整"，黄金仍保留在国家储备中。 如今，俄罗斯央行发起的实物黄金交易亦完全是在境内进行，可以将外界关注的交易标的物现货黄 金，看作在俄联邦财政体系里扮演着"内部提款机"的角色，其所有权在央行、本土银行和相关做市商 之间转手，却不会对国际市场造成波动。 卖了多少呢？ 截至 ...

Core Viewpoint - Company 37 Interactive Entertainment (三七互娱) announced its subsidiary 37Starseek's investment in Lighthouse Founders' Fund L.P., aiming to enhance its strategic positioning in the AI and technology sectors [1] Investment Details - 37Starseek will invest up to $2 million as a limited partner in Lighthouse Founders' Fund L.P., which has a total expected size of no more than $80 million [1] - The general partner, Lighthouse Founders' Fund GP Ltd., and its affiliates will contribute at least 2% of the total fund size [1] - If the fund reaches its maximum size of $80 million, 37Starseek's investment will represent approximately 2.5% of the total fund [1] Strategic Objectives - The investment will focus on high-quality companies in the AI and related technology sectors, aligning with the company's strategic development in cutting-edge technology and capital appreciation [1]

据悉，Lighthouse Founders'Fund L.P.将投资于AI及其他相关泛科技领域的优质企业，以协同主业发展， 达到公司在前沿科技领域的战略布局，并实现资本增值。 三七互娱（002555）(002555.SZ)公告，公司全资子公司37Starseek Co.,Limited(简称"37Starseek")拟参与 投资Lighthouse Founders'Fund L.P.，并于近日签署完成有关认购协议。Lighthouse Founders'Fund L.P.实 际总规模预计不超过8000万美元，公司子公司37Starseek拟作为有限合伙人以自有资金出资不超过200万 美元，普通合伙人为Lighthouse Founders'Fund GP Ltd.，普通合伙人及其关联方拟以自有资金出资不低 于基金总认缴规模的2%。若Lighthouse Founders'Fund L.P.的最终募集规模为8000万美元，且公司子公司 37Starseek以自有资金出资200万美元，则公司子公司37Starseek的投资金额约占基金规模的2.5%。 ...

2025年12月9日，由《中国经营报》主办的"新跨越 新征程——2025中国企业竞争力金融论坛"在北京举 行。 建信投资并购重组部高级经理王卉在论坛上表示，建信投资始终坚持政策导向，聚焦科技金融、绿色金 融、普惠金融、养老金融、数字金融"五篇大文章"，积极优化金融资源配置结构，确保资金精准流向国 家需要、人民关切的领域。 中经记者 秦玉芳 广州报道 王卉指出，在业务实践中，建信投资突出以耐心资本支持新质生产力的功能作用，积极融入国家级产业 集群，通过股权投资助力新兴产业发展和未来产业培育。以新质生产力为主线，围绕现代化产业体系建 设主动布局，优先支持国家急需的"卡脖子"领域，坚持投向"硬科技、真创新"企业，持续巩固优化"国 家所需、建行所长、股权所宜、公司所能"的投资布局。业务模式上，建信投资背靠建行集团，通过联 动各地分行，因地制宜深耕当地新质生产力企业，推动商投行一体化，探索科技金融的母子协同的工作 模式，为客户提供全面的金融服务方案，切实服务实体经济。 面对新质生产力培育周期长、不确定性高的特点，建信投资通过设立存续期较长的AIC试点基金，提供 匹配企业成长周期的"耐心资本"，陪伴企业在长周期中不断实现 ...

（原标题：天齐锂业等在安徽成立合伙企业，出资额5亿元） 企查查APP显示，近日，安徽隐山天齐双新股权投资合伙企业（有限合伙）成立，出资额5亿元，经营 范围包含：以私募基金从事股权投资、投资管理、资产管理等活动。企查查股权穿透显示，该公司由天 齐锂业（002466）全资子公司成都天齐锂业有限公司、安徽省新材料产业主题投资基金合伙企业（有限 合伙）等共同持股。 ...

Core Insights - The China Investment Corporation (CIC) has maintained a stable annualized return on foreign investments despite significant changes in the external investment environment, achieving an annualized net return of 6.92% over the past decade as of December 31, 2024, exceeding performance targets by 61 basis points [1] - The CIC's investment strategy focuses on long-term performance, with a rolling annualized return rate being a key metric for evaluating investment performance [1] Investment Performance - The annualized net return rates for the CIC from 2020 to 2024 were 6.82%, 8.73%, 6.43%, 6.57%, and 6.92%, respectively, consistently surpassing ten-year performance targets by varying margins [1] Asset Allocation - The CIC's asset allocation includes alternative assets, public market equities, fixed income, and cash products, with alternative assets making up the largest portion of the portfolio, accounting for 48.49% in the most recent five-year period [3] - The investment proportions in public market equities over the last five years were 38%, 35.4%, 28.60%, 33.13%, and 34.65% [4] Sector Focus - The CIC has prioritized investments in sectors such as Information Technology, Financials, Consumer Discretionary, Healthcare, Industrials, Communication Services, and Consumer Staples, with a notable shift towards Information Technology since 2020, where its investment proportion exceeded that of Financials [5] - The investment proportions in Information Technology from 2020 to 2024 were 20.39%, 22.76%, 19.55%, 21.91%, and 25.85%, while Financials were 12.94%, 13.89%, 15.54%, 15.02%, and 16.41% [5] Geographic Allocation - The CIC's stock investments are primarily directed towards developed economies, with a growing trend in allocations to emerging markets and other regions, where the investment proportions in U.S. stocks were 57%, 61.48%, 59.18%, and 60.29% from 2020 to 2023 [6] - The allocation to developed sovereign debt has also increased, with proportions of 55%, 51.63%, 52.75%, 66.02%, and 64.4% from 2020 to 2024 [6] Strategic Outlook - The CIC acknowledges the challenges posed by high interest rates, inflation, and geopolitical changes in the global macroeconomic environment, while also recognizing opportunities arising from technological and industrial transformations [8] - The company aims to enhance its management and professional capabilities, optimize asset allocation, and improve its investment management mechanisms in response to the evolving investment landscape [8]

本报讯(记者袁传玺)天眼查App显示，近日，南京海外资本有限公司成立，法定代表人为王雪，注册资 本8000万元，经营范围包括股权投资、信息咨询服务。股东信息显示，该公司由南京江宁经济技术开发 集团有限公司、南京新工投资集团有限责任公司共同持股。 ...

Core Insights - China Investment Corporation (CIC) reported a ten-year cumulative annualized net return of 6.92% as of December 31, 2024, surpassing the benchmark by 61 basis points [2] - Since its establishment in 2007, CIC's total assets have reached approximately $1.57 trillion [1] - The investment strategy has shifted towards alternative assets, which now account for 48.49% of the portfolio, while public market equities and fixed income have decreased in proportion [3] Investment Performance - The ten-year cumulative annualized net return of 6.39% since inception indicates consistent performance, with most years falling between 6% and 7% [2] - The annualized net investment return was significantly higher at 17.41% in 2019, reflecting a previous focus on stock investments [3] Asset Allocation - As of the end of 2024, the asset allocation is as follows: alternative assets (48.49%), public market equities (34.65%), fixed income (15.53%), and cash (1.33%) [3] - The shift from a higher allocation in equities in previous years to a greater focus on alternative assets suggests a strategic response to market volatility [3] Future Outlook - The global macroeconomic environment remains complex, with opportunities and challenges arising from AI and green transformation trends [5] - CIC aims to enhance its investment capabilities and optimize asset allocation to effectively navigate the uncertainties in the investment landscape [5]

人民财讯12月10日电，企查查APP显示，近日，安徽隐山天齐双新股权投资合伙企业（有限合伙）成 立，出资额5亿元，经营范围包含：以私募基金从事股权投资、投资管理、资产管理等活动。企查查股 权穿透显示，该公司由天齐锂业（002466）全资子公司成都天齐锂业有限公司、安徽省新材料产业主题 投资基金合伙企业（有限合伙）等共同持股。 ...

Core Insights - The global economic landscape is undergoing profound changes, with supply chain and industrial layout being restructured amid challenges. Many Chinese companies are seeking to explore new growth avenues through international expansion, with Hong Kong emerging as a key hub for this strategy [2][4]. Group 1: Event Overview - The "EY Entrepreneur Of The Year 2025" award ceremony brought together past awardees, business leaders, and policymakers in Hong Kong to discuss how enterprises can navigate cycles and expand internationally [2]. - The event served as a platform for leaders to share insights on the future and the importance of entrepreneurship in driving sustainable development [4]. Group 2: Hong Kong's Role - Hong Kong possesses unique advantages under the "One Country, Two Systems" framework, acting as a dual platform for "bringing in" and "going out" [6]. - The Hong Kong government has established a dedicated team to assist mainland enterprises in deploying overseas supply chains, enhancing its role as a facilitator for international business [6]. Group 3: Challenges and Opportunities for Enterprises - Discussions highlighted the differing international expansion strategies between large and small enterprises, with smaller firms facing greater challenges in financing and trade settlement [9]. - Establishing smoother funding channels is crucial for Chinese companies looking to expand globally, necessitating the development of resilient supply chains, funding chains, and talent networks [9]. Group 4: Leveraging Hong Kong's Advantages - Experts discussed how Hong Kong's international advantages in finance, law, and professional services can empower Chinese enterprises in their globalization efforts [11]. - Companies are encouraged to utilize Hong Kong's expertise in IP compliance and regulatory matters to safeguard their international operations [11]. Group 5: EY Entrepreneur Of The Year Award - The EY Entrepreneur Of The Year award is recognized as one of the most prestigious international business awards, celebrating visionary entrepreneurs and promoting high-quality economic development [11].