23.51万家民营企业参与"万企兴万村"行动，"百城千校万企"促就业行动提供岗位超千万个，前1000家 民营企业研发费用投入总额达1.43万亿元……全国工商联发布的《中国民营企业社会责任报告 （2025）》显示，民营企业已成为践行社会责任的重要力量。 依文集团做了一些新的探索，例如，开展订单式培训项目，培训内容直接对接市场订单，让结业乡亲能 立刻将技能转化为收入；捐赠标准化生产设备与工坊，并提供首发订单，帮助地方搭建产业起步基础； 举办推介活动，为乡村产品提供直面都市消费者的曝光机会与销售场景。 "履行责任不能只凭一腔热血，我非常认同'公益的心，商业的手法'。"在夏华看来，帮扶必须是可造 血、可持续、能共赢的。企业追求商业回报，与带动农民增收、促进乡村发展，是可以相互促进的统一 体。 拓宽就业渠道 "民营企业承担稳定和扩大就业的社会责任，义不容辞。"亨通集团有限公司副总裁鲍继聪认为，民营企 业吸纳就业，既是稳增长、促消费的重要支撑，也是推动产业升级的抓手，"民营企业在数字经济、新 能源、高端制造等新兴领域很活跃，会带动人才向高技术、高附加值产业集聚"。 企业做优做强，才能提供更多优质岗位，而人才的汇聚，又能反 ...

Group 1: Core Insights - The visit of UK Prime Minister Starmer to China is seen as a significant step towards the resumption of UK-China relations after eight years of stagnation [1][2] - Starmer's engagement with Chinese culture, exemplified by his visit to a Yunnan restaurant, reflects a friendly approach and a desire to understand China better [2] - The visit is expected to enhance bilateral relations and provide political guidance for future cooperation between the two countries [2] Group 2: Economic Cooperation - A large trade delegation of over 50 UK companies accompanied Starmer, indicating a strong interest in economic collaboration across key sectors such as finance, automotive, pharmaceuticals, and high-end manufacturing [3] - The UK views China as an essential partner for economic development, especially given its current economic challenges, making the strengthening of UK-China trade relations a strategic priority [3] - Both countries have committed to developing a long-term stable comprehensive strategic partnership and enhancing bilateral trade and investment cooperation [3] Group 3: Global Context - Other Western leaders, including those from France, Canada, and Finland, have also visited China, seeking to maintain a multilateral order centered around the UN and international law [5] - China is perceived as a "stabilizing anchor" in the international system, especially amidst geopolitical tensions and the rise of anti-globalization sentiments [5] - The collaboration between China and the UK, despite differing economic systems, sends a positive signal in the current global landscape [5][6] Group 4: Future Relations - The emphasis on building a "refined bilateral relationship" suggests that future UK-China relations will require careful management and mutual problem-solving [7] - Increasing communication and dialogue is deemed essential for resolving misunderstandings and building trust between the two nations [6][7]

● 本报记者 王鹤静 作为银行系公募基金的代表机构，近年来兴业基金在巩固固收投资优势的基础上，以指数投资为切入 口，大力推动权益投资发展。近日，兴业基金推出公司旗下首只QDII公募基金——兴业恒生科技指数 （QDII），为投资者提供一键参与港股科技板块的投资利器。 日前，兴业基金指数投资团队负责人、兴业恒生科技指数（QDII）拟任基金经理徐成城在接受中国证 券报记者采访时表示，站在当前的市场位置，港股科技类资产凭借其稀缺性以及相对较低的估值，对于 海内外资金而言，均有显著的配置价值。而且，通过QDII的形式还能够参与港股通以外的优质标的配 置机会，助力投资者充分享受科技浪潮下的投资机遇。 稀缺性与低估值优势凸显 作为公司旗下首只QDII产品，兴业基金首先选择试水的是跟踪恒生科技指数的场外产品。徐成城表 示，这样的选择是基于市场判断、资金观察、产品布局、自身能力等多方因素综合考虑的结果。 "从市场环境来看，新质生产力承担起我国提升生产效率的重任，围绕这类资产展开的投资策略有助于 帮助投资者实现资产的保值增值。由于成长类资产整体估值偏贵，而且产业发展存在不确定性，作为专 业投资者，我们需要帮助大家寻找其中具备相对 ...

在中航证券首席经济学家董忠云看来，当前多国央行宣布暂停降息，应理解为全球宽松进程的节奏放 缓，而非流动性的全面收紧。即使海外市场流动性进一步宽松的速度暂时放缓，但当前全球整体流动性 环境仍处于相对宽松状态，特别是市场对美联储等在2026年启动降息的预期依然存在，这将对流动性形 成支撑。 截至北京时间1月29日中国证券报·中证金牛座记者发稿时，1月以来已有美联储、瑞典央行、挪威央 行、加拿大央行等多个重要经济体央行选择暂停降息。2024年以来新一轮宽松周期有放缓脚步的迹象， 这对大类资产配置会带来怎样的影响值得关注。 大类资产配置该如何调整？权益市场方面，董忠云建议，一方面，聚焦高景气成长赛道，特别是人工智 能产业链（包括算力基础设施、半导体、端侧硬件）及高端制造（机器人、新能源）；另一方面，可配 置高股息红利资产（如银行、公用事业、能源央企等）作为防御底仓。 对于黄金和债市，王开认为，黄金等贵金属短期走高后不排除震荡调整风险，但黄金长期配置逻辑并未 改变。对于债券市场，建议以票息策略为主，不宜过度通过加杠杆博取资本利得。 外围流动性宽松节奏放缓对中国资产影响几何？国信证券首席策略分析师王开认为，实质性影响有限 ...

冯德莱恩在印度笑得很开心，号称打开了十四亿人口大市场，堪比中了头奖。印度摇身一变成了拯救欧洲出口的关键伙伴。 双方已经签署历史性协议。 到底是谁赢麻了？是被关税大棒敲得头疼的欧盟，还是算计着产业升级的印度？ 当地时间 1 月 27 日，欧盟委员会主席冯德莱恩亲自出马，和印度方面一起签了两份大单：一份是自由贸易协议，一份是防务 合作协议。 用欧盟自己的说法，这是历史性的一天，用冯德莱恩的话说，欧洲做到了。 站在欧盟的角度，这份激动可以理解。 过去几年，对它来说真不好过。美国那边关税说加就加，打着各种名义搞制裁、加征关税，欧企被挤压得够呛。 对华方面又在不断加壁垒，动不动就调查、限制，一边离不开中国供应链，一边又要做出强硬姿态，自己给自己上了不少枷 锁。对俄罗斯则是长期紧绷，能源问题、制裁问题，牵一发动全身。 在这三股力量夹击之下，欧盟经济状态难言轻松，制造业信心起起落落，产业转移的讨论越吵越凶，政治上还要在各种场合表 现出团结强硬。 这个时候，哪怕出现一点所谓新机遇，都会被当成救命稻草。于是，印度成了那个被寄予厚望的对象。 外界给印度的一个标签，是石油掮客。 在俄油打折抛售的时候，印度大量买入，再通过各种方式卖 ...

Group 1 - The Beijing Stock Exchange (BSE) has seen a significant increase in IPO activities, with 26 new stocks listed in 2025, raising a total of 7.527 billion yuan, and an average of about 2 new stocks listed per month [2] - In 2025, no new stock on the BSE experienced a first-day drop, with an average first-day increase of approximately 368%, and several stocks achieving over 500% gains [2] - Notable performers included Dapeng Industrial with a first-day increase of 1211.11% and Hengtong Light with an 878.16% increase, highlighting the BSE's strong market performance compared to the overall A-share market [2] Group 2 - As of January 28, 2026, the BSE continued its momentum from 2025, holding 9 listing committee meetings in January, with 8 stocks passing the review process [3] - The BSE's listing review process is favoring high-end manufacturing and strategic emerging sectors, with companies like Toptech and Zhongke Instrument being highlighted for their innovative contributions [4] - Zhongke Instrument's IPO process took just over 6 months from acceptance to approval, showcasing the efficiency of the BSE's review system [5] Group 3 - In 2026, five new stocks have opened for subscription, with significant capital inflow, including Kema Materials and Aisheren, which saw subscription amounts exceeding 10.5886 billion yuan, setting a new record for the BSE [6] - The average subscription funds for new stocks on the BSE have increased dramatically, with 2025 averaging around 67 billion yuan, and 2026 showing even higher figures [6][7] - The BSE's new stock performance has attracted substantial investment, with a higher certainty of winning allocations compared to other exchanges, making it appealing for large investors [7] Group 4 - The BSE's market activity has led to over 200 companies preparing for listing, including notable "little giant" enterprises like Zhongxin Jingyuan and Unisoc, indicating a robust pipeline of quality listings [7] - Despite the overall market activity, there are concerns about liquidity disparities among smaller stocks, with some newly listed companies experiencing low average trading volumes [8] - The rapid price increases of certain stocks may lead to valuation bubbles, necessitating close attention to company performance and fundamentals [8]

Core Viewpoint - In 2025, several foreign public funds achieved significant excess returns, with clear positioning in technology growth and resource sectors, reflecting strong stock selection and allocation capabilities [1][3]. Group 1: Performance of Foreign Public Funds - Multiple foreign public funds recorded impressive gains in 2025, with standout performances from products like BlackRock Advanced Manufacturing A, which rose 63.34%, and Robeco Resource Select A, which surged 97.28%, indicating strong grasp of structural market trends [3]. - The overall portfolio structure of these funds remains centered on manufacturing, while maintaining high attention to technology growth and resource opportunities [3]. Group 2: Specific Holdings and Strategies - BlackRock Advanced Manufacturing A focused heavily on manufacturing, with key technology stock positions in Q4 including Zhongji Xuchuang and Lixun Precision, leaning towards high-end manufacturing [3]. - Fidelity Low Carbon Growth A also prioritized manufacturing, with significant holdings in companies like Xinyi Solar and Shanghai Fudan, balancing low-carbon transition and technology growth [3]. - Robeco Resource Select A displayed a more diversified portfolio, investing in materials and mining sectors, with major positions in Zijin Mining and China Aluminum, highlighting a clear focus on commodities and related industries [3][4]. Group 3: Market Outlook and Strategic Adjustments - Foreign institutions are optimistic about the medium to long-term opportunities in resource sectors while making structural adjustments in technology investments, believing in the ongoing value reassessment of Chinese stocks amid economic transformation [6]. - Robeco Resource Select's manager expressed confidence in the resource sector, anticipating further market expansion in 2026, which will provide more options for portfolio allocation [6]. - Schroders China Power's managers indicated a strategy shift from high-expectation technology sectors to undervalued non-bank financials and chemicals, reflecting a rebalancing of their investment approach [6]. Group 4: Focus on Technology and Future Expectations - The AI sector's profit expectations have been revised upward, but stock performance remains subdued, leading to a cautious approach towards further investments in AI hardware while increasing exposure to application sectors and related supply chains [7]. - Allianz China Select's manager highlighted a sustained high equity position, focusing on quality technology assets as key drivers of value reassessment in Chinese stocks, with expectations for continued excess returns in 2026 [7].

Core Viewpoint - In 2025, several actively managed equity products under foreign public funds achieved significant excess returns, with clear positioning in technology growth and resource sectors, reflecting strong stock selection and allocation capabilities [1][2]. Group 1: Performance Overview - Many foreign public fund products recorded impressive gains throughout 2025, with standout performances in their categories. For instance, BlackRock Advanced Manufacturing A rose by 63.34%, Fidelity Low Carbon Growth A increased by 44.27%, Schroders China Power A gained 47.94%, Allianz China Select A surged by 65.83%, and Robeco Resource Select A achieved a remarkable 97.28% increase, showcasing the strong grasp of foreign institutions in structural market conditions [3]. Group 2: Portfolio Structure - The portfolio structure of these foreign public funds remains centered on manufacturing, while maintaining a high focus on technology growth and resource opportunities. Specifically, BlackRock's holdings are heavily concentrated in manufacturing, with significant investments in technology stocks such as Zhongji Xuchuang, Cambrian, and Luxshare Precision in the fourth quarter [3][4]. - Fidelity Low Carbon Growth also prioritizes manufacturing, with key holdings including Xinyi Semiconductor, Information Development, and Shanghai Fudan, balancing low-carbon transformation and technology growth [3]. - Robeco Resource Select has a more diversified portfolio, including significant allocations to materials and mining sectors, with major investments in Zijin Mining, Chipbond Technology, and China Aluminum, indicating a clear focus on commodities and related industry chains [3]. Group 3: Investment Strategy - The latest quarterly reports from various foreign public funds indicate a dual approach in investment strategy: a sustained optimism towards cyclical resource sectors and a selective approach within the technology sector. The ongoing economic transformation, technological advancements, and supportive policies in China continue to underpin the value reassessment of Chinese stocks [5][6]. - Robeco Resource Select has optimized its portfolio structure by shifting towards cyclical sectors while reducing exposure to black metals and early-cycle segments, and increasing chemical sector allocations, while also maintaining and slightly increasing investments in upstream industries related to the current technology innovation cycle [6]. - Schroders China Power maintains a high equity position while rebalancing its structure, transitioning from previously favored technology sectors to undervalued non-bank financials and chemicals [6]. Group 4: Future Outlook - Looking ahead to 2026, there is a strong belief in the continued value reassessment of Chinese stocks, with high-quality technology assets expected to remain core to this process, potentially yielding significant excess returns [7].

Group 1: Core Perspectives - Hainan's free trade port is positioned as a strategic hub for dual circulation, evolving its functions gradually [1] - The long-term focus on duty-free shopping is essential for Hainan to establish itself as an international tourism consumption center [1] - The capital market and real estate stabilization may boost consumer confidence, particularly among high-net-worth individuals, benefiting the duty-free sector [1] Group 2: Policy Insights - Hainan's free trade port is leveraging the closure to enhance high-level openness, with a tax system featuring "zero tariffs and low tax rates" [2] - The policy framework aims to attract quality industries and talent, particularly in high-value sectors like biomedicine and high-end manufacturing [2] - The implementation of facilitation measures is designed to break down barriers for cross-border flows of various elements, enhancing Hainan's position as a regional offshore trade center [2] Group 3: Duty-Free Market Dynamics - The duty-free market in Hainan is experiencing a significant adjustment period, with sales expected to decline until 2024 [3] - Recent policy changes have relaxed restrictions on product categories and consumer sources, potentially unlocking new consumption scenarios [3] - In November, sales reached 5.02 billion yuan, a year-on-year increase of 46.8%, indicating a positive turning point in consumer engagement [3]

1月28日，2026年"冰雪企遇·沈阳大学生寒假招聘会"拉开帷幕，作为今年首场大型综合招聘会，吸引了数千名求职者到场。本报记者 王迪 摄 1月28日，2026年"冰雪企遇·沈阳大学生寒假招聘会"拉开帷幕，作为今年首场大型综合招聘会，吸引了数千名求职者到场。本次活动由沈阳市人社局等部门 主办，旨在深入实施新时代人才强市战略，精准对接沈阳重点产业集群与新兴产业发展需求，促进高校毕业生等重点群体高质量充分就业。 招聘会预设线上线下展位200余个，汇聚了市内外多家国有企业、重点产业链企业及优秀民营企业，释放出智能制造、信息技术、现代服务、航空航天等领 域的1万余个优质岗位，为人才提供从基础岗位到管理岗位、从传统产业到新兴领域的多元化选择。 精准对接： 万余岗位覆盖传统与新兴领域 上午9时许，招聘大厅内已是人头攒动。求职者们手持简历，在企业展位前仔细询问岗位要求、发展空间。"我是沈阳本地高校的应届毕业生，学的是机械工 程。"22岁的李晓阳告诉记者，他已经在几家制造业企业展位前投递了简历。"这次招聘会来的企业类型很全，特别是很多高端制造企业和我专业对口。我比 较看重企业的技术培训体系和晋升通道。" 本次招聘会以"精准对接 ...