Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasizes the need to deepen foreign exchange facilitation reforms to enhance high-quality development vitality [1] Group 1: Key Focus Areas for 2026 - The conference aims to optimize trade foreign exchange business management and orderly expand high-level opening pilot projects for cross-border trade [1] - There will be increased support for the development of new trade formats such as cross-border e-commerce and improvements in enterprise trade credit reporting management [1] - The goal is to build an open, diverse, well-functioning, and competitively orderly foreign exchange market [1] Group 2: Support for Financial Institutions and SMEs - Financial institutions are encouraged to develop simple and user-friendly foreign exchange risk hedging products to reduce hedging costs for small and micro enterprises [1] - There will be an enhancement of the service level of foreign exchange market infrastructure [1] Group 3: Policy Implementation and Evaluation - The conference will continue to focus on the "five major articles" of finance and expand the application scenarios of cross-border financial service platforms [1] - There is a need to strengthen the transmission and evaluation of foreign exchange policies to improve the effectiveness of policy implementation [1]

Group 1 - The core point of the news is that the China Convertible Bond Index has reached a new high not seen in over 10 years, driven by strong performance in the equity market and specific stocks like Seli Medical [2][3][4] - The China Convertible Bond Index rose by 1.35% to 505.77 points on January 6, marking the highest level since June 2015 [3] - Seli Convertible Bond has seen a significant increase, with a 20% rise over two consecutive trading days, benefiting from the strong performance of its underlying stock, Seli Medical, which is focused on AI and medical big data [3][4] Group 2 - The catalyst for this market trend is the commercialization breakthrough in the brain-computer interface industry, with Neuralink planning to start large-scale production in 2026 [4] - Domestic policy support for the brain-computer interface sector is increasing, with the National Medical Products Administration accelerating the review process for related products [4] - Other convertible bonds like Jiamei and Lianchuang have also performed well, indicating a structural rally in the convertible bond market [4] Group 3 - The strong performance of the convertible bond market is closely linked to the performance of underlying stocks, with the China Convertible Bond Index showing a rise of 18.66% in 2025, closely following the 18.41% increase in the Shanghai Composite Index [6][7] - The valuation recovery in the convertible bond market has been a significant driver, especially after a period of low valuations due to risks like defaults and delistings [7] - The current market sentiment is characterized by a preference for high-growth sectors such as AI healthcare and advanced manufacturing, which are driving the performance of specific convertible bonds [4][8] Group 4 - Analysts suggest that the current market conditions may lead to a "spring rally," driven by seasonal capital inflows and policy expectations [9] - Institutional investors may have a renewed interest in convertible bonds as they adjust their equity asset risk factors, potentially leading to increased demand [9] - The performance of convertible bonds may also depend on the specific terms of the bonds and the strategies employed by investors [9]

Group 1 - The Beijing State-owned Assets Company and Beijing Financial Holdings Group have initiated the construction of the headquarters park in the Beijing urban sub-center, marking a new chapter in the development of industrial carriers in the area [1][2] - The headquarters park covers an area of 11,300 square meters with a floor area ratio of 6.35, a total above-ground construction area of 71,800 square meters, and a height limit of 120 meters [1] - The park is strategically located near the North Canal leisure landscape belt and is expected to become a landmark building in the business district of the urban sub-center, integrating the development of the canal business area and the transportation hub [1] Group 2 - The two state-owned enterprises are expected to relocate to the headquarters park by 2029, aiming to explore new paths and models for financial services to the real economy, while promoting the dual empowerment of enterprise development and the construction of the urban sub-center [2] - The project is part of a strategic layout to enhance cooperation among state-owned enterprises and drive high-quality development, contributing to the high-quality growth of the Beijing urban sub-center and regional industrial upgrades [2] - The headquarters park will serve as a demonstration hub that integrates intelligence, environmental sustainability, low carbon, and internationalization, attracting quality enterprises such as Beijing Green Exchange Co., Ltd. and Capital Information Co., Ltd. [2]

智通财经APP获悉，1月6日，香港证监会发布通告，谴责盛宝金融(香港)公司，并处以罚款400万港元， 原因是盛宝金融在其网上交易平台分销非香港证监会认可的虚拟资产基金及虚拟资产相关产品时犯有缺 失。 于2018年11月1日至2022年11月25日期间，盛宝金融容许零售客户在网上平台买卖若干虚拟资产产品。 根据两份于关键时间生效的香港证监会致中介人的通函，这些产品只应售予专业投资者。 香港证监会的调查发现，于有关期间，盛宝金融在网上平台为6名个人专业投资者及130名零售客户执行 了1446笔交易，涉及32项虚拟资产产品。有关产品全部均属于复杂产品，包括21项交易所买卖衍生产 品。 盛宝金融在执行这些交易前，并无评估客户是否具备投资虚拟资产产品的知识，亦无向客户提供充足资 料和特别就虚拟资产给予客户警告声明，因而不符合该两份香港证监会通函所载的指引。 于有关期间，盛宝金融并无设有任何特定程序，以就虚拟资产产品进行产品尽职审查。它依赖其母公司 在全集团层面制订的若干规程，识别涉及虚拟资产的投资工具。由于该等规程存在缺失，32项虚拟资产 产品未有被识别为该类产品。因此，有关产品可供盛宝金融的客户于网上平台买卖，不论其 ...

Core Insights - The company has completed all conditions for the acquisition of JF Financial as of January 6, 2026, allowing it to hold 100% equity of the target group [1] - JF Financial, established on December 12, 2016, primarily provides financial services through its subsidiaries, Fangde Securities and Fangde Capital [1] - The acquisition results in the target group's companies being fully owned and merged into the company as wholly-owned subsidiaries, along with the ownership of core information systems [1]

九方智投控股(09636)发布公告，内容有关(其中包括)收购目标公司JF Financial Company Limited(前称 Yintech Financial，"JF Financial")全部股权及核心信息系统。于本公告日期，完成收购事项的所有先决 条件已获达成。完成已于本公告日期作实。于完成后，目标集团的成员公司由公司持有100%，并合并 为公司的全资附属公司;及公司取得核心信息系统的所有权。 ...

Core Viewpoint - The financial industry is undergoing a profound self-examination, recognizing that investment models detached from the real economy and driven by emotions or short-term speculation cannot support long-term stability [1] Group 1: Company Philosophy and Approach - The company emphasizes rational investment and believes that the essence of finance lies in the rational allocation of resources rather than merely chasing price fluctuations [1][4] - The company maintains a clear positioning, focusing on long-term impacts rather than maximizing short-term profits, which aligns with its commitment to sustainable development [1][4] Group 2: Compliance and Risk Management - The company prioritizes legal compliance as a prerequisite for all business operations, reinforcing the importance of a clear and stable regulatory framework to avoid disorderly expansion and risk accumulation [2] - Risk management is viewed as an integral part of financial services, with the company employing systematic research and process management to continuously identify and control market, operational, and compliance risks [2] Group 3: Investment Philosophy - The company adopts a research-driven and long-term perspective in its investment philosophy, recognizing that short-term price fluctuations are influenced by various factors and that long-term asset value is determined by macroeconomic structures and fundamental business conditions [2][3] - The company remains restrained in the face of market trends and emotional fluctuations, making investment decisions based on in-depth research and rational judgment [3] Group 4: Client Services and Relationships - The company is committed to professional and standardized service delivery, developing differentiated service models to meet the needs of various client groups while emphasizing risk matching and information transparency [3] - For institutional clients, the company focuses on establishing long-term cooperative relationships through professional research support and standardized service processes [3] - For high-net-worth clients, the company emphasizes holistic asset allocation and risk control to assist them in achieving long-term stable management in complex market environments [3] Group 5: Industry Context and Future Outlook - The company recognizes that the Chinese capital market is transitioning from "rapid development" to "high-quality development," which demands higher levels of professionalism and rationality from financial institutions [4] - The company plans to continue exploring sustainable and rational investment paths while enhancing its research, risk management, and service capabilities [4][5]

Core Official Channels - The "12315" platform is the most authoritative official channel for consumer rights protection in China, integrating website, app, mini-program, and phone services to facilitate complaints [2][10] - The platform allows consumers to submit evidence such as text, images, and videos, and is recommended for its comprehensive service [2][12] - The market supervision department has the authority to conduct administrative mediation and investigations for complaints related to false advertising, product quality issues, and other violations of consumer protection laws [5][10] Industry-Specific Complaint Channels - Various industries have their own regulatory bodies or associations that provide specialized complaint channels, which may offer higher efficiency due to their familiarity with industry rules [3][13] Social Supervision and Third-Party Mediation Platforms - Third-party platforms, such as the "Black Cat Complaint" platform, leverage media and internet technology to facilitate consumer-business dialogue and utilize public opinion to resolve issues, despite lacking administrative enforcement power [4][14] - These platforms are characterized by their convenience and social oversight, becoming increasingly popular among consumers [4][14] Summary and Recommendations - A "ladder-style" strategy for consumer rights protection is suggested, starting with direct negotiation with the merchant, followed by third-party complaints, administrative or industry complaints, and finally judicial resolution if necessary [8][17] - Specific channels for different sectors include financial services, telecommunications, transportation, and tourism, each with designated complaint mechanisms [15][17]

Core Viewpoint - The geopolitical tensions in the Western Hemisphere have led to a surge in risk aversion in global financial markets, driving strong demand for safe-haven assets like gold [1] Group 1: Gold Market Performance - Spot gold prices rose by 2.7% to $4,448.20 per ounce, reflecting the market's quick pricing ability in response to risk events [1] - In early 2026, the gold market demonstrated strong resilience near historical highs, with a record price of $4,549.71 per ounce achieved in 2025, marking an annual increase of over 60% [1] - Recent price recoveries indicate solid bottom support in the market despite previous profit-taking phases [1] Group 2: Geopolitical and Economic Implications - The direct actions taken in the region have disrupted the existing power balance, prompting investors to assess the long-term impacts on global energy supply chains and market stability in Latin America [1] - The geopolitical premium is expected to lead to a reassessment of risk weights for assets in the affected regions, particularly due to the large oil reserves and fragile supply conditions [1] - Any disturbances in this area could escalate into supply anxieties in the energy market, which may positively influence precious metals through inflation expectations [1] Group 3: Fundamental Drivers of Gold Strength - The strengthening of gold is supported by deeper fundamental drivers, including expectations for a shift to looser monetary policies in the second half of the year and ongoing increases in gold reserves by central banks worldwide [2] - Concerns over global economic slowdown are enhancing the long-term investment value of gold [2] - The combination of risk-averse buying and macroeconomic policy cycles is likely to push gold prices towards historical peaks, positioning it as a key asset for investors facing global uncertainties [2]

记者丨 郑青亭 编辑丨和佳 据新华社，1月5日，正在对华进行正式访问的爱尔兰总理马丁在北京对中国媒体表示，爱尔兰 高度重视发展对华关系，愿同中方一道持续深化政治互信，拓展经贸、人文等领域务实合作， 共同推动欧中关系不断改善，特别是在贸易领域坚持开放贸易原则，营造公平竞争的市场环 境。 马丁在5日的发布会上透露，当天上午他同中方领导人举行了"热情而富有建设性的会晤"。双 方一致重申致力于建设稳固的中爱互惠战略伙伴关系，并同意共同推动欧盟—中国关系朝着更 加稳定、建设性的方向发展，尤其是在贸易领域推进开放、公平和基于规则的合作。 马丁表示，中国市场对爱尔兰企业和产品具有至关重要的意义，尤其是在食品和饮料产业领 域。爱尔兰在牛肉、乳制品和婴幼儿配方奶粉等方面拥有全球领先的质量和安全标准，农业及 食品饮料产业已成为中爱经贸关系的重要支柱，希望在可持续基础上持续保持对中国市场的准 入。 与此同时，生命科学和科技产业仍将是双边合作的重要组成部分。随着两国经济数字化进程不 断加快，技术、知识和经验的交流愈发关键，加强研发合作尤为重要。 他举例称，当天见证的一项围绕糖尿病肾病开展的中爱科研合作，充分体现了双方在相互尊重 基础 ...