本次收购是浩瀚深度AI战略的延续与深化。继上月与燧原科技合作发布"金融智能体服务一体机"后，本 次收购云边云，意味着公司将AI能力从金融云端，系统性地部署到了零售、制造、医疗等核心产业的 边缘侧，形成了完整的"云边协同"AI能力体系。本次收购双方将在三方面产生积极协同效益： 技术闭环：浩瀚深度将为云边云公司注入三大核心能力：深度集成的DPI技术，实现边缘侧流量的精准 识别与感知；更先进的AI算法及大模型，赋能SDWAN网络优化及面向行业场景的边缘智能解决方案； 以及坚实的硬件设计开发能力。本次收购完成后，由此，"浩瀚深度公司的DPI之眼、AI决策大脑与硬 件骨架"与"云边云的边缘网关平台"深度融合，共同构成一个完整、自主进化的智能网络系统。 场景拓展：与"金融智能体"聚焦云端业务不同，AI边缘网关将智能延伸至零售、制造、医疗等场景的终 端侧，实现数据本地化处理与实时响应，例如，在智慧零售场景，可依托AI营销智能体分析客流、交 易及库存数据，自动调整促销策略与货架陈列；还能接入AI导购智能体，基于顾客消费偏好推送个性 化商品推荐，全方位提升门店运营效率与顾客体验，极大拓宽了公司AI解决方案的应用边界。 模式升级 ...

另外，中央网信办将联合多部门建立网络水军长效治理机制，严肃查处网络水军有组织刷分控评、刷量 增粉、刷单炒信等行为。同时加大对恶意营销信息处置力度，聚焦恶意虚假摆拍、散布虚假信息、违背 公序良俗、违规引流营销等四类恶意营销突出问题，开展专项整治，督促指导相关平台明确审核和处置 标准，畅通投诉举报渠道，完善标签标注功能，健全算法推荐和流量分配规则，优化营利权限管理，坚 决遏制恶意营销信息泛滥之势。会同相关部门开展个人信息保护系列专项行动，深入治理App、智能终 端、自动售卖、扫码点餐等常用服务和常见生活场景中存在的违法违规收集使用个人信息典型问题。 市场监管总局和国家网信办今天（1月7日）联合召开新闻发布会，发布会上针对目前网络交易中存在的 恶意营销、网络水军、个人隐私泄露等问题，中央网信办有关负责人表示将强化营销售卖类信息内容管 理，指导网络交易平台加强商品介绍、用户评论、搜索推荐、账号信息等重点环节管理，梳理违规商品 清单，明确违规营销行为，严厉打击编造虚假场景人设、无底线带货营销等行为。 ...

作为全球跨境商贸的重要支付枢纽，Payoneer 派安盈服务全球数百万家客户，支持超过 70 种货币的跨境收付，其业务覆盖全球 40 + 主流电商平台，是中国 卖家链接全球商机的核心伙伴。随着跨境电商交易规模的持续扩张，支付平台的网络稳定性、数据传输效率及多区域协同能力成为影响服务质量的关键要 素。此次合作中，工讯之光将针对性输出三大核心技术支撑： 其一，基于自主研发的 NOVA-SDWAN 广域网加速架构，为 Payoneer 派安盈全球办公节点搭建低时延传输通道。通过覆盖 15 国的智能骨干网络与动态路径 选择技术，将跨境数据访问时延降低，显著提升多区域团队的协同效率与支付交易处理速度。其二，提供全链路安全防护解决方案，融合加密算法与动态身 份验证技术，筑牢支付数据传输与存储的安全屏障，进一步强化 Payoneer 派安盈的合规风控能力。其三，通过弹性带宽分配与智能运维系统，建立 "30分钟 响应" 的网络故障处理机制，保障支付服务的连续性与稳定性。 "在跨境商贸环境不确定性加大的背景下，技术基建与金融服务的深度融合是赋能企业出海的关键。"Payoneer 派安盈负责人表示，"工讯之光的全球网络服 务能力 ...

■ 本报记者 邵志媛 政策与市场双重驱动 全年将延续稳健增长 从实物消费的城乡覆盖到服务消费的热度攀升，线上消费亮眼表现的背后，是市场韧性与政策支持的双 重驱动。 线上消费作为扩内需、促消费的重要引擎，正以强劲增长态势为经济高质量发展注入澎湃动能。国家统 计局发布的数据显示，1—11月份，实物商品网上零售额同比增长5.7％，增速快于社会消费品零售总额 1.7个百分点，占社会消费零售总额的比重达到25.9％。数字消费、绿色消费、健康消费日益成为消费新 热点，对消费的引领和支撑作用日益显现。 不久前召开的中央经济工作会议提出，深入实施提振消费专项行动，制定实施城乡居民增收计划。扩大 优质商品和服务供给。受访专家分析，进入年末消费旺季，线下商家加速备货、线上平台发力促销，双 重动力将推动网上零售额持续增长，预计全年延续稳健态势。后续还需通过优化消费环境、细化服务标 准以提升体验，同时创新消费场景、结合新业态拓展空间，并加大消费补贴、优化金融支持政策降低门 槛，让消费者敢消费、愿消费，买得放心。 鲜货跨省达 服务随时享 山西太原市民杨女士近日拆开了一个从青海远道而来的包裹，里面是女儿特意通过电商平台订购的草原 新鲜羊 ...

由于旨在提升股东回报的公司治理改革推动了更多交易的发生，预计到2025年，涉及日本企业的交易额 将飙升至约3500亿美元的历史新高。虽然数十亿美元的巨额交易层出不穷，但Itoki表示，这些并非高盛 的主要目标，因为竞争异常激烈，吸引力大减。 他表示，高盛的目标客户是估值在300亿至3000亿日元之间的中型企业，这些企业往往缺乏拓展海外市 场或进行并购所需的资金和人力资源。Itoki说："在很多情况下，这些企业的业务质量很高，在日本拥 有很大的市场份额，但它们缺乏进一步增长所需的资源。" 高盛(GS.US)计划在下一个十年内，将其在日本蓬勃发展的企业并购市场中的收购和投资规模扩大约 8000亿日元(约合51亿美元)，重点关注中型企业。高盛日本分公司成长型股权和私募股权团队董事总经 理Yu Itoki表示，高盛正在寻找管理层收购、子公司出售和企业传承规划等领域的企业客户。他认为， 全球机构投资者对日本市场的需求强劲，同时越来越多的公司也热衷于开展管理层收购和非核心资产出 售等项目。 Itoki在接受采访时表示："我们现在的投资速度是以往的两到三倍。"他指出，投资者和寻求融资的公司 之间的供需关系已经趋于一致。 医 ...

Core Insights - The e-commerce sector in China has shown significant growth in the first ten months of 2025, contributing positively to consumption, livelihood, modern industrial system construction, and high-level opening-up [1] Group 1: E-commerce Growth - The national online retail sales increased by 9.6% year-on-year in the first ten months [1] - Smart wearable devices, including smart glasses and smartwatches, saw a remarkable growth in online retail sales of 23.1% [1] - Online service consumption experienced a growth rate of 21% [1] Group 2: Instant E-commerce and Industry Transformation - Instant e-commerce, characterized by online coupon purchases and offline experiences, recorded a sales growth of 25.1% in the dining sector [2] - The industrial e-commerce sector has facilitated the digital transformation of small and medium-sized enterprises, with over 400 matching events conducted by major e-commerce platforms [2] - In the textile sector, industrial e-commerce transactions grew by 5.5%, while the pharmaceutical sector saw a growth of 3.4% [2] Group 3: Agricultural E-commerce - The online retail sales of agricultural products increased by 9.5%, while rural online retail sales grew by 7.5% in the first ten months [2] - The "Digital Commerce Promotes Agriculture" initiative in Shandong has linked with provinces like Shanxi, Gansu, and Jiangxi to enhance the sales of local specialty agricultural products [2] Group 4: International E-commerce - The "Silk Road E-commerce" initiative has established 12 innovative practice areas, promoting high-quality cooperation along the Belt and Road [3] - In the first ten months, the sales of imported goods from key monitored platforms increased by 8.9% [3] - Specific products such as Uzbek candies and Thai mangosteen saw sales growth of 73.7% and 39.9%, respectively [3]

Group 1 - The core viewpoint highlights the positive impact of e-commerce on consumption, livelihood, and the construction of a modern industrial system in China from January to October 2025, showcasing new business development momentum [1] - The national online retail sales increased by 9.6% year-on-year during the same period, with significant growth in smart wearable devices, such as AI glasses and smartwatches, which saw a 23.1% increase [2] - The online service consumption grew by 21%, with instant e-commerce and in-store dining sales also experiencing notable growth [2] Group 2 - Industrial e-commerce is facilitating digital transformation and enhancing the flexible manufacturing capabilities of small and medium-sized enterprises, with over 400 industry e-commerce matchmaking events held, leading to a 5.5% increase in textile sector transaction volume and a 3.4% increase in the pharmaceutical sector [3] - The "Silk Road E-commerce" initiative is promoting high-quality cooperation along the Belt and Road, with 12 innovative practice cases established and replicated nationwide, contributing to an 8.9% increase in sales of imported goods from key monitored platforms [5]

Core Insights - The Ministry of Commerce reported a 9.6% year-on-year increase in online retail sales in China for the period from January to October 2025, indicating a robust growth in e-commerce [1][2] - Significant growth was observed in smart products, online services, and instant e-commerce, with smart wearable devices like AI glasses and smartwatches seeing a 23.1% increase in sales [1][2] - The "Silk Road E-commerce" initiative has led to the establishment of 12 innovative practice cases, promoting China's market as a global opportunity [3] E-commerce Growth - Online retail sales in China increased by 9.6% year-on-year from January to October 2025 [1][2] - Sales of smart wearables grew by 23.1%, while online service consumption rose by 21% [1][2] - The dining sector, particularly online coupon purchases leading to offline experiences, saw a 25.1% increase [1][2] - Instant e-commerce sales grew by 24.3%, reflecting a strong demand for convenient consumption [1][2] Digital Transformation - The e-commerce sector is aiding the digital transformation of small and medium enterprises, with over 400 industry e-commerce matchmaking events held [2] - Key sectors such as textiles and pharmaceuticals experienced transaction growth of 5.5% and 3.4%, respectively [2] - Agricultural products and rural online retail sales increased by 9.5% and 7.5%, respectively, indicating a positive trend in rural e-commerce [2] International Collaboration - The "Silk Road E-commerce" initiative has facilitated 36 events to promote China's market globally [3] - The initiative has led to a 8.9% increase in sales of imported goods from monitored platforms [3] - Notable sales growth was recorded for specific products, such as a 73.7% increase in Uzbek candy and a 39.9% increase in Thai mangosteen [3]

Core Viewpoint - The recent service interruption of Cloudflare, affecting major internet platforms like X and ChatGPT, highlights vulnerabilities in modern automated network infrastructures, raising concerns about the balance between efficiency and security [3][5]. Group 1: Service Interruption Details - On November 18, Cloudflare experienced a service outage due to issues with an automatically generated configuration file intended to manage security threats, which became too large and caused system crashes [3]. - Cloudflare manages approximately 20% of global internet traffic and protects websites and applications from traffic surges and cyberattacks [3]. - Previous outages, such as the one involving Amazon Web Services, have also caused significant disruptions to numerous popular websites and applications [3][4]. Group 2: Industry Implications - The frequency of network outages reveals a core contradiction in large-scale network infrastructures, where highly automated systems designed for efficiency may introduce new risks [5]. - Experts suggest that the automation and intelligence in network systems must be carefully evaluated for risks, advocating for more flexible usage strategies [5]. - The future internet landscape is expected to evolve into a complex structure characterized by firewalls, sovereign clouds, and physical isolation, where connection resilience will be more critical than speed [5]. Group 3: Regional Impact - During the Cloudflare outage, operations in China remained unaffected due to the company's collaboration with local partners like JD Cloud to establish domestic data centers [5].

Core Insights - The recent service outage of Cloudflare on November 18 raised concerns about the risks associated with highly automated systems that utilize artificial intelligence technology [1][2] - Cloudflare's outage was attributed to an issue with an automatically generated configuration file intended to manage security threats, which became too large and caused system crashes [1] - The incident highlights a growing trend in the industry where the pursuit of efficiency and speed through automation may introduce new security risks [2] Company-Specific Insights - Cloudflare manages approximately 20% of global internet traffic and protects websites and applications from traffic surges and cyberattacks [1] - During the Cloudflare outage, major platforms like X and ChatGPT were inaccessible, indicating the significant impact of such service disruptions [1] - In China, Cloudflare's operations remained unaffected due to partnerships with local providers like JD Cloud, which help maintain service continuity [3] Industry Insights - The frequency of network outages exposes a fundamental contradiction in modern large-scale network infrastructure, where automation aimed at improving efficiency may become a source of risk [2] - Experts suggest that as automation and intelligence in network systems become more prevalent, companies must carefully assess the risks associated with these technologies and adopt more flexible strategies [2] - The future internet landscape is expected to evolve into a "complex maze" characterized by firewalls, sovereign clouds, and physical isolation, where connection resilience will be more critical than speed [3]