专题：2026中国首席经济学家论坛年会 2026年中国首席经济学家论坛年会于1月10-11日在上海举行，主题为"棋至中局：承前启后 建设强国"。 新华资产首席经济学家王德伦出席并发言。 从中长期资金入市角度，谈了几点建议。 第一，要打造更强大的中长期机构投资者。除完善其他机制外，首先要让机构变得更强，支持其发展， 尤其是从自身建设、资本金等内在根基方面给予支持。在实际投资过程中，金融机构受资本金大小制 约。一方面，我们希望并鼓励中长期资金入市；另一方面，要给予其更多发挥空间，因此应在金融机构 资本金方面给予政策支持和鼓励。 第二，关于投资范围。中长期资金入市是很好的提法，但就如同吃饭不能只吃主食，还要搭配蔬菜、肉 和水果一样，在中长期资金入市时，无论是监管层还是各方面，都希望多买股票权益类资产，但其实需 要有多元化的投资策略和投资品种。 第三，有进就有出，要做好退市工作。把好公司引进来，也要对不具备能力甚至有洗钱行为的公司做出 技术化安排，实现优胜劣汰。 新浪合作大平台期货开户 安全快捷有保障 新浪声明：所有会议实录均为现场速记整理，未经演讲者审阅，新浪网登载此文出于传递更多信息之目 的，并不意味着赞同其观点 ...

Core Viewpoint - The company emphasizes its commitment to serving the real economy and fulfilling social responsibilities while adapting to industry transformations and aligning with national development strategies [1][3]. Group 1: Company Development and Strategy - Since its inception four years ago, the company has focused on empowering the real economy and safeguarding public wealth, achieving a management product scale expected to exceed 1.5 trillion yuan by 2025 and serving 15 million customers, generating 130 billion yuan in returns for investors [1]. - The strategic positioning of the company is rooted in its unique role as a connector between resident wealth and the real economy, integrating responsibility into its core development [3]. - The company has initiated the "Three-Five Special Project" to deepen its focus on key areas, including technology finance, green finance, and inclusive finance, supporting the construction of five centers in Shanghai and five major tracks of Pudong Development Bank [3]. Group 2: Product Innovation and Performance - The company has launched innovative products, including equity-based technology-themed investments, and introduced a wealth management product linked to the "Pudong Development Bank - China Bond Credit Technology Innovation Bond Index" to guide investments into strategic emerging industries [4]. - In the green finance sector, the company has integrated ESG principles into its investment practices, with green finance-related assets expected to grow nearly 20% by 2025, with bonds making up nearly 80% of this portfolio [4]. - The company has doubled its inclusive finance asset balance since the beginning of the year, responding to the needs of small and micro enterprises and developing specialized wealth management products for the elderly [4]. Group 3: Product System and Market Recognition - The company has upgraded its product system to meet diverse investor needs, launching the "Day Xin Yue Yi" 2.0 product line, which optimizes asset allocation and introduces multiple investment strategies [6]. - The performance of the company's products has been recognized in the market, with several products winning industry awards such as the "Bank Wealth Management Product Golden Bull Award" and "Best Cash Management Return" [7]. Group 4: Digital Transformation and Innovation - The company is focusing on digital transformation as a core strategy, implementing the "Zhi Pu Wealth Management" project to enhance operational efficiency, risk control, and investment research capabilities [8]. - The launch of the "North Star Intelligent Research" platform integrates investment research and strategy, enhancing the company's ability to adapt to market changes and improve decision-making processes [8]. Group 5: Future Outlook and Commitment - The company aims to continue its journey of high-quality development, driven by compliance and professionalism, while striving to become a leading asset management institution [9]. - The company is committed to deepening the integration of financial services with the real economy, contributing to the construction of a financial powerhouse and creating value for clients [9].

人民财讯1月10日电，1月10日，上海市虹口区副区长陈帅在"2026年中国首席经济学家论坛年会"上表 示，虹口区锚定"上海全球资产管理中心、金融科技中心核心承载区"的战略定位，持续做深做实金 融"五篇大文章"，区域金融生态呈现出"规模扩容、质量提升、特色凸显"的良好发展态势。截至目前， 全区集聚各类金融机构已突破2100家，资产管理规模突破8万亿元；成功获批上海首批股权投资集聚 区，私募基金数量与管理规模均位居全市前列。 ...

Core Insights - The BlackRock 2026 Global Investment Outlook Report highlights a structural transformation in the global investment landscape, driven by artificial intelligence (AI) as a dominant disruptive trend intertwined with geopolitical fragmentation, energy transition, and financial system evolution [1][2]. Group 1: Investment Environment - The report emphasizes the need for investors to abandon neutral positions and adopt proactive investment strategies due to the changing investment environment [1]. - AI-related capital expenditures are projected to reach $5 to $8 trillion globally by 2030, primarily concentrated in the U.S. [1][14]. - The report notes that while current revenue growth expectations for tech companies may not support reasonable return rates, AI could potentially push U.S. economic growth beyond the long-term trend of 2% [1][18]. Group 2: Financial Leverage - The significant upfront investments in AI and the delayed realization of returns are leading companies to increase leverage financing, while high public debt limits government financing capabilities [1][26]. - The private credit market is becoming a crucial financing channel, but this also heightens the fragility of the financial system [1][26]. - The report suggests a tactical underweighting of U.S. long-term treasuries due to rising leverage and financing costs [1][27]. Group 3: Investment Strategy - The report identifies a concentration of market returns driven by a few core factors, indicating that traditional diversification strategies are becoming ineffective [1][30]. - Investors are encouraged to adopt more segmented and flexible allocation strategies, focusing on private markets and hedge funds for non-systematic return sources [1][31]. - Tactical overweights are recommended for U.S. and Japanese equities, emerging market hard currency bonds, and U.S. agency mortgage-backed securities, while underweighting U.S. long-term treasuries [2][30]. Group 4: Disruptive Trends - AI development faces physical limitations, including energy and computing power constraints, with U.S. data center electricity demand potentially reaching 25% of current total demand by 2030 [2][35]. - The geopolitical landscape is intensifying, with the U.S.-China AI competition becoming a focal point, and Europe planning to increase defense spending to 5% of GDP [2][41][42]. - Infrastructure investment is seen as an opportunity, with significant valuation discounts and essential support for AI development [2][36].

分行业看，服务类岗位延续增长态势：餐饮酒吧行业新增2.7万个岗位，医疗保健行业贡献2.1万个就业 机会，社会救助领域新增1.7万个岗位，三大领域合计贡献当月绝大部分就业增长。而零售行业表现疲 软，减少2.5万个岗位；政府部门仅新增2000个岗位，增长乏力。 薪资方面，2025年12月平均时薪环比增长0.3%，符合市场预期；同比增长3.8%，较预期高出0.2个百分 点，显示劳动力市场虽增速放缓，但薪资粘性仍存。 1月9日，美国劳工统计局发布的2025年12月就业报告显示，"就业增长不及预期但失业率下降、薪资稳 定" 的混合特征，反映出劳动力市场在经济增速强劲背景下的结构性调整。全年就业增长大幅放缓显示 市场供需趋于平衡，而薪资与消费数据的稳健表现，为美国经济平稳收官提供了重要支撑。市场普遍预 期美联储1月的议息会议将维持利率不变。 就业数据好坏参半 报告显示，去年12月非农就业人数经季节性调整后新增5万人，低于道琼斯预期的7.3万人，且不及11月 向下修正后的5.6万人；但失业率意外回落至4.4%，优于4.5%的预期值，展现出市场韧性与矛盾性并存 的特征。 报告显示，2025年全年非农就业平均每月增长4.9万人 ...

报告显示，2025年全年非农就业平均每月增长4.9万人，较2024年的16.8万人大幅放缓，反映出劳动力市场扩张节奏持续降温。同时，前两个 月数据遭遇下修：11月就业人数较初始值下调8000人至5.6万人，10月的就业减少规模则从10.5万人扩大至17.3万人。10月和11月新增就业人 数合计向下修正7.6万人。 分行业看，服务类岗位延续增长态势：餐饮酒吧行业新增2.7万个岗位，医疗保健行业贡献2.1万个就业机会，社会救助领域新增1.7万个岗位， 三大领域合计贡献当月绝大部分就业增长。而零售行业表现疲软，减少2.5万个岗位；政府部门仅新增2000个岗位，增长乏力。 1月9日，美国劳工统计局发布的2025年12月就业报告显示，"就业增长不及预期但失业率下降、薪资稳定" 的混合特征，反映出劳动力 市场在经济增速强劲背景下的结构性调整。全年就业增长大幅放缓显示市场供需趋于平衡，而薪资与消费数据的稳健表现，为美国经济 平稳收官提供了重要支撑。市场普遍预期美联储1月的议息会议将维持利率不变。 就业数据好坏参半 报告显示，去年12月非农就业人数经季节性调整后新增5万人，低于道琼斯预期的7.3万人，且不及11月向下修正后的 ...

格隆汇1月9日丨Principal资产管理公司的首席全球策略师西玛·沙赫表示，虽然目前很难说美国劳动力市 场已经崩溃，但目前的情况仍远未明朗。工资增长低于预期，此前几个月的数据也被下调，这使得三个 月的平均增长跌入负值区间。虽然劳动力供应趋紧或许能解释部分原因，但持续的失业情况很难让人感 到乐观。美国经济可能需要美联储提供更多的支持——但并非立即提供。 ...

北京时间周五晚21:30，美国劳工统计局交出了一份惨淡的报告。 其中， 餐饮服务及饮酒场所、医疗保健与社会援助行业继续增加，零售业就业减少。 12月私营非农就业全体员工平均时薪上升0.12美元，增长0.3%，至37.02美元；过去12个月上涨3.8%。 美国12月季调后非农就业人口增加5万人，低于市场预期中值6万人，前值由6.4万人修正为5.6万人； 美国12月失业率录得4.4%，略低于市场预期的4.5%，前值由4.60%修正为4.5%。 数据公布后，美国股指期货延续涨势，道琼斯指数期货涨0.31%，标普500指数期货涨0.34%，纳斯达克100指数期货涨0.43%。 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 标普500指数主连 (2603) | mount | 6985.50 | +23.50 | +0.34% | | ESmain | | | | | | 道琼斯指数主连 (2603) | | 49647 | +154 | +0.31% | | YMmain | ringen | | | | | 纳斯达克100指数主连 (260 ...

Core Viewpoint - Huashu Holdings (000509) is actively addressing its financial pressures through support from its controlling shareholder, whose main business focuses on financial investment and asset management [1] Group 1 - The controlling shareholder of Huashu Holdings is providing significant support to alleviate the company's financial pressures [1] - The company is open to future mergers or asset injection plans that align with its development strategy, and it will follow legal decision-making procedures and timely disclosures [1]

Core Insights - Anthropic, an AI startup, is preparing to launch its Claude 4 chatbot in January 2025, aiming to compete with products like ChatGPT and Gemini while seeking over $60 billion in funding, making it one of the highest-valued AI companies globally [1][2] - The rise of billionaires in the tech industry is largely attributed to companies like Google, Meta, Microsoft, and emerging firms like Anthropic and AppLovin, which have seen significant stock price increases driven by investor enthusiasm for AI [2][3] - Alphabet, Google's parent company, has created the most billionaires, totaling 10 individuals with a combined wealth exceeding $600 billion [4][6] Company Summaries - **Anthropic**: Founded by former OpenAI employees, Anthropic has quickly entered the AI race with its chatbot Claude, achieving a valuation of $60 billion by early 2025 and creating seven billionaires among its founders [16] - **AppLovin**: This digital advertising company has produced eight billionaires since its NASDAQ listing in 2021, with its stock price increasing over 1000% since then, reaching a market cap close to $250 billion [2][14] - **Google/Alphabet**: The company has generated 10 billionaires, including co-founders Larry Page and Sergey Brin, with a total wealth of $618.2 billion among them [8][10] - **Meta**: Facebook's parent company has created eight billionaires, including Mark Zuckerberg, with a total wealth of $314 billion [12] - **Microsoft**: The tech giant has five billionaires, including Bill Gates and Steve Ballmer, with a combined wealth of $290.5 billion [19][21] - **Blackstone**: This investment firm has produced six billionaires, with a total wealth of $68.5 billion [17] - **Snowflake**: The cloud services company has five billionaires, with a total wealth of $9.2 billion [22] - **Thoma Bravo**: This investment firm has also created five billionaires, with a total wealth of $33.2 billion [24]