我国是世界上老年人口最多的国家，已经进入中度老龄化社会。"十五五"规划建议对"加快建设金融强 国"作出部署，强调大力发展科技金融、绿色金融、普惠金融、养老金融、数字金融。中国人民银行等 部门联合印发的《关于金融支持中国式养老事业 服务银发经济高质量发展的指导意见》提出，到2028 年，养老金融体系基本建立，养老金融产品和业态逐步丰富，养老金融意识普遍形成，养老金融供给水 平有效提升，人民福祉得到有效增进。本期特邀专家围绕相关问题进行研讨。 积极应对人口老龄化的重要举措 养老金融涵盖哪些领域？在推动银发经济发展中发挥了怎样的作用？ 一方面，提升养老经济保障水平。夯实三支柱养老保险体系，推进产品和服务创新。加强养老金融产品 设计和投资管理，推进个人商业养老金融业务试点，鼓励信托公司开展定制化信托业务。鼓励养老资管 产品配置股权、股票、债券等资产，支持养老金融产品投资与养老特征相匹配的长期优质资产，支持建 立养老金融产品多重风险缓释机制，鼓励各类养老金管理机构建立健全长周期考核机制。 另一方面，提升养老服务保障水平。完善金融支持银发经济服务体系和管理机制。鼓励金融机构建立养 老金融专营机构，支持制定专项养老信贷方案 ...

从1小时办妥临时驾照的"同城效率"，到带动当地数百户农户增收致富的高山茶合作社；从"夕发朝 至"的物流速度，到"一键绑卡"的金融便利……近年来，福建以建设两岸融合发展示范区为使命，在探 索海峡两岸融合发展新路上迈出坚实步伐。通过持续深化社会、经济、情感、全域融合，福建正将"两 岸一家亲"的理念，转化为台胞台企可感可及的同等待遇、互利共赢的发展实景与血脉相连的温馨家 园。 生活同城化 不久前，台胞巫乂在连江黄岐台胞服务驿站，仅用1小时就办妥了临时机动车驾驶许可，成为福建省首 例"口岸现场一站式办理"台胞临时机动车驾驶许可业务的受益者。"业务办理过程简单高效，我1小时就 拿到了证件，完全不耽误后续的行程安排。"巫乂说，他常年往返于连江、马祖两地，近年来，不断缩 短的通关时间与愈发便捷的业务办理，让他切实感受到了福马"同城生活圈"的服务效率与温度。 "在相关部门的支持和配合下，我们通过整合资源、简化流程，将便民服务延伸至对台胞服务最前沿， 通过配备专业工作人员及设备，将原本分散的材料受理、信息核验、证件制作等环节集中至口岸现场， 大幅减少台胞办理业务的'时间成本'问题，为台胞就业、创业及生活提供极大便利。"黄岐台胞 ...

Core Viewpoint - The stock markets have experienced significant growth in recent years, with the S&P 500 more than doubling and the Dow rising nearly 75% since the beginning of the decade, but future performance is expected to be more moderate [1] Short-to-Medium Term Performance - ChatGPT and Grok forecast moderate growth for the U.S. stock market over the next couple of years, with expected returns in the high-single-digit to low-double-digit range, supported by corporate earnings and economic resilience [2] - Grok anticipates "solid but more moderate performance" compared to the exceptional gains of the early 2020s, driven by AI-related productivity and earnings growth, while facing challenges from elevated valuations and economic uncertainties [3] - Gemini projects an average S&P 500 return of 9% to 12% in 2026, with potential upside reaching 15%, aligning with Goldman Sachs' forecast of a 12% gain for the S&P 500 in 2026 [3] Longer-Term Outlook - Forecasts for the longer term (beyond three to five years) are more uncertain, with many models suggesting lower average annual returns of 4% to 7% due to higher valuations and structural shifts [5] - Grok indicates that optimistic scenarios could yield much higher returns if AI significantly transforms the economy, but baseline views assume gradual adoption and potential volatility if earnings disappoint [6] - Major institutions like Goldman Sachs and J.P. Morgan expect the S&P 500 to grow at a slower, more normalized pace, influenced by high valuations and aging demographics, partially offset by an AI productivity boom [6]

金融商品的买入价，可以选择按照加权平均法或者移动加权平均法进行核算，选择后36个月内不得变 更。 纳税人转让金融商品，不得开具增值税专用发票。 转让金融商品出现的正负差，按盈亏相抵后的余额计算销售额。若相抵后出现负差，可结转下一纳税期 与下期转让金融商品销售额相抵，但年末时仍出现负差的，不得转入下一个会计年度。 1月31日，财政部、税务总局发布《关于明确增值税应税交易销售额计算口径的公告》。其中提到，纳 税人转让金融商品，以卖出价扣除买入价后的余额计算销售额。转让金融商品出现的正负差，按盈亏相 抵后的余额计算销售额。若相抵后出现负差，可结转下一纳税期与下期转让金融商品销售额相抵，但年 末时仍出现负差的，不得转入下一个会计年度。 （来源：财闻） ...

Group 1 - The core viewpoint of the article emphasizes the significance of UK Prime Minister Starmer's visit to China, marking the first visit by a UK Prime Minister in eight years, which symbolizes a potential thaw in relations and opportunities for economic cooperation [1][2][4] - The visit included a high-level delegation of over 60 representatives from various sectors such as finance, pharmaceuticals, automotive, energy, and cultural industries, indicating a broad interest in enhancing bilateral trade and investment [1][5] - The UK-China trade relationship is highlighted as crucial, with China being the UK's third-largest trading partner, and there is an expectation for more frequent high-level interactions to stabilize policy expectations for businesses [2][4] Group 2 - The article discusses the potential for collaboration in advanced sectors such as battery technology, electric vehicles, and artificial intelligence, where China has made significant advancements, suggesting that the UK should adopt an open attitude towards these innovations [2][10] - The service industry is identified as having substantial growth potential, particularly in financial services, creative industries, and sports, which aligns with China's focus on service sector growth in its 14th Five-Year Plan [7][9] - The article notes a structural shift in investment strategies, with both Chinese and UK companies moving towards more integrated operations in each other's markets, including local employment and manufacturing [8][10]

这些文件并未暗示任何不当行为，但确实表明卢特尼克错误地描述了他与爱泼斯坦的关系程度。 白宫方面尚未对此事作出回应。 根据美国司法部当地时间周五公布的文件显示，美国商务部长霍华德·卢特尼克曾计划前往声名狼藉的 金融家爱泼斯坦的私人岛屿，并且与这名性犯罪者保持联系的时间远比他此前声称的更久。 在2012年12月的一封邮件中，卢特尼克询问爱泼斯坦，他的家人和另一家人是否有可能前往加勒比海旅 行期间参观他的岛屿。 "你在哪里（给我的船长的具体位置是什么）？"时任Cantor Fitzgerald首席执行官的卢特尼克在信息中写 道，"周日晚饭怎么样？" 随后的信息表明，他们同意于2012年12月23日共进午餐；次日，卢特尼克给爱泼斯坦发了一封电子邮 件，表示很高兴见到他，但没有具体说明会面地点。 "你在哪里（给我的船长的具体位置是什么）？"时任Cantor Fitzgerald首席执行官的卢特尼克在信息中写 道，"周日晚饭怎么样？" 随后的信息表明，他们同意于2012年12月23日共进午餐；次日，卢特尼克给爱泼斯坦发了一封电子邮 件，表示很高兴见到他，但没有具体说明会面地点。 这些文件并未暗示任何不当行为，但确实表明卢 ...

Primary Market - A total of 12 offshore bonds were issued this week (January 26 to 30), including 4 RMB bonds, 6 USD bonds, 1 HKD bond, and 1 EUR bond, with a total issuance scale of $31.7552 billion [1] - The largest single issuance in the offshore RMB bond market was 3.5 billion RMB by Zhejiang Provincial Port Investment and Operation Group Co., Ltd., with the highest coupon rate of 6.7% issued by Zoucheng Limin Construction Development Group Co., Ltd. [1] - In the offshore USD bond market, the largest single issuance was $600 million by Link REIT, with the highest coupon rate of 12.75% issued by Dalian Wanda Commercial Management Group Co., Ltd. [1] Secondary Market - Most yields on Chinese USD bonds rose this week, with the Markit iBoxx Chinese USD Bond Composite Index increasing by 0.12% to 252.36 [2] - The investment-grade USD bond index rose by 0.1% to 245.19, while the high-yield USD bond index increased by 0.29% to 244.5 [2] - The real estate USD bond index rose by 0.58% to 181.84, and the city investment USD bond index increased by 0.96% to 154.83, while the financial USD bond index fell by 0.16% to 292.79 [2] Benchmark Spread - As of January 30, the spread between 10-year benchmark government bonds in China and the U.S. widened to 243.1 basis points, an increase of 2.2 basis points from the previous week [3] Rating Changes - Chengdu Airport Industry Investment Development Co., Ltd. had its 'A-' international long-term issuer rating withdrawn by United International for commercial reasons on January 26 [4] - Yancoal Energy Group Co., Ltd. had its "Ba2" company rating withdrawn at the company's request by Moody's on January 28 [4] - Chengdu Dongfang Guangyi Investment Co., Ltd. had its 'BBB+' international long-term issuer rating withdrawn by United International for commercial reasons on January 29 [4] Domestic News - The Shanghai Free Trade Zone successfully completed the global issuance of its first offshore bond on January 27, with a scale of 200 million RMB and a coupon rate of 1.88%, marking a significant innovation in China's offshore financial market [5] - As of January 28, local governments have disclosed a refinancing special bond scale exceeding 300 billion RMB for replacing hidden debts, with a focus on 10-year and longer maturities [6] - The China Development Bank Hong Kong Branch issued its first public bond in Macau on January 27, amounting to 5.5 billion RMB, marking a milestone for policy bank bonds in the region [6] Overseas News - The Federal Reserve announced on January 28 that it would maintain the federal funds rate target range at 3.5% to 3.75%, aligning with market expectations amid economic uncertainties [7] - Former Federal Reserve Board member Kevin Warsh was nominated by President Trump to become the next Fed Chair, pending Senate approval [8] Default and Extension Alerts - China Overseas Land & Investment Limited expects a net loss of 13 to 15.5 billion RMB for 2025, compared to a loss of 8.662 billion RMB in the previous year [9] - Jinke Property Group Co., Ltd. anticipates a net profit of 30 to 35 billion RMB for 2025, but expects a loss of 29 to 35 billion RMB after excluding non-recurring gains and losses [10] - Shimao Group Holdings Limited reported an additional overdue debt of 3 million RMB this month, with total overdue debts amounting to 16.899 billion RMB [11] - Ruian Real Estate announced the repurchase and cancellation of $295 million in bonds due in June 2026 [12]

美东时间30日下午，国际市场黄金、白银价格继续大幅下跌。纽约商品交易所4月黄金期价一度跌破每盎司4800美元关口，跌幅超过10%;3月白银期价一度 跌破每盎司80美元关口，跌幅超过30%。现货白银价格一度暴跌36%，创出历史最大日内跌幅。现货黄金价格一度下跌超过12%，盘中跌穿每盎司4700美 元，遭遇40年来单日最大跌幅。 本次黄金、白银等贵金属的大跌，其背后受到美联储相关消息、获利盘回吐等多重因素影响。东方金诚研究发展部高级副总监瞿瑞分析，金价冲高回落，主 因近期国际金价上行速度过快，叠加市场严重超买，引发资金获利了结离场。 中长期来看，瞿瑞分析，本轮金价的上涨已明显超越传统避险交易范畴，这也意味着市场对全球风险的定价方式正在发生变化。其定价不再局限于单次冲突 或危机，而是将地缘政治风险、美元信用风险、美联储独立性风险、美国债务可持续风险等视为长期存在的结构性变量，形成持续的风险溢价。 中金公司执行总经理李昭预计，2026年年初，由于美国通胀持续上行，美国增长边际改善，美联储可能放缓宽松节奏，或对黄金表现形成阶段性压制。但是 再往前看，随着2026年5月新的美联储主席就职，2026年下半年美国通胀迎来下行 ...

责任编辑：山上 股票频道更多独家策划、专家专栏，免费查阅>> 华侨银行策略师Christopher Wong表示，黄金的走势"印证了'急涨必急跌'的警世之言。"他认为沃什的美 联储主席提名虽是导火索，但回调早已是势在必行。"这就像是市场一直在等待的、用来平仓那些抛物 线式行情的借口之一。"贵金属此前已为剧烈波动做好了铺垫，因为飙升的价格和波动率让交易员的风 险模型和资产负债表承压。高盛集团在一份报告中指出，看涨期权购买创纪录浪潮也"机械性地强化了 上涨势头"，因为这些期权的卖方通过买入更多金属来对冲价格上涨的风险。 ...

Group 1 - OPEC+ will hold a monthly meeting to discuss oil production policies [2] - The U.S. will release January ADP employment data and the European Central Bank will announce its interest rate decision [2] - Major companies such as Alphabet, Qualcomm, and Amazon are set to disclose their earnings [2][4] Group 2 - The China National Bureau of Statistics will publish January CPI and PPI data [4] - The International Energy Agency (IEA) will release its monthly oil market report [4] - The U.S. Energy Information Administration (EIA) will provide its monthly short-term energy outlook report [4]