八部门发文，强化虚拟货币监管 日前，中国人民银行、国家发展改革委、工业和信息化部、公安部、市场监管总局、金融监管总局、中 国证监会、国家外汇管理局印发《关于进一步防范和处置虚拟货币等相关风险的通知》，进一步防范和 处置虚拟货币、RWA代币化相关风险，明确虚拟货币相关业务活动属于非法金融活动，严格监管赴境 外开展RWA代币化相关业务活动。 央行连续第15个月增持黄金 国家外汇管理局2月7日发布的数据显示，截至2026年1月末，中国黄金储备为7419万盎司，环比增加4万 盎司，为中国央行连续第15个月增持黄金。 我国成功发射可重复使用试验航天器 下周，A股将迎来春节前的最后一个交易周。业内机构认为，春节前市场或维持区间震荡，建议均衡配 置；春节后市场焦点可能重新转向具备产业催化、业绩确定性的成长板块。 大宗商品市场方面，国际金价继续宽幅震荡。在业内机构看来，尽管调整可能意味着出现布局良机，但 黄金的波动性已显著加大，投资者应将其作为资产配置的一部分，而非单一投机工具。 影响后市投资大事件 兴业证券：持股过节兼具胜率与赔率 近期全球叙事变化对市场情绪冲击最大的时刻或正逐步过去，后续事件催化增多、"春节效应"等因素， ...

如何应对春节前的最后一个交易周？ 春节长假将至，近期A股成交量下滑，杠杆资金持续流出。投资者再次面临选择：是持币观望规 避不确定性，还是持股博弈"红包行情"？ 近日，多家券商研究所陆续发布关于春节行情的研判观点。根据记者梳理，"持股过节"是机构的 主流建议，其理由既来自对历史"春节效应"的复盘，也基于对当前经济预期、流动性环境及风险 偏好的综合评估。 投资者该如何把握春节前后的市场节奏？对此，多家券商认为，节前要注重均衡与防御，节后聚 焦成长与产业趋势。 解码"春节效应" A股在春节前后往往呈现明显的"日历效应"，无论是量能变化、风格轮动还是行业表现，均有规 律可循。记者注意到，多家券商近期对近20年A股春节前后的市场表现进行复盘。 "节前缩量、节后放量"是券商眼中春节行情的典型特征。 据东吴证券策略团队分析历史数据，节 前市场量能通常自T-8日（T为春节）起开始回落。该团队认为，本轮行情亦贴合上述规律，2026 年2月4日成为量能分水岭，5日、6日成交金额跌破2.5万亿元，向2万亿元水平靠拢。"根据历年经 验，缩量的趋势一般会持续到节后首个交易日，T+2日起市场量能中枢显著抬升，交投热情回 暖，市场流动性逐 ...

记者 王闲乐 吴頔 顾杰 曹飞 谢飞君 见习记者 徐心远 昨天，上海市人民政府举行主题记者会，市发展改革委、市经济信息化委、市商务委、市科委、市 人力资源社会保障局、市民政局相关负责人出席并就经济发展、民生政策等回答记者提问。 提升城市能级和核心竞争力 市政府副秘书长、市发展改革委主任顾军介绍，2025年，上海全市生产总值达到5.67万亿元，比上 年增长5.4%，圆满完成了年度和"十四五"经济增长预期目标。今年是"十五五"开局之年，全市生产总值 增长预期目标为5%左右，我们将着力以国家战略为牵引，全面深化改革开放；着力促消费扩投资稳外 需，积极扩大有效需求；着力培育壮大新质生产力，引领产业转型升级；着力深化改革创新，促进服务 业优质高效发展；着力以民心工程、民生实事为抓手，保障和改善民生。 "五个中心"建设是上海"十五五"期间的重中之重。顾军表示，今年将在提升城市能级和核心竞争力 上取得更大突破。加快构建以先进制造业为骨干的现代化产业体系，加快实施一批重大产业项目，加快 打造人民币资产全球配置中心、风险管理中心，吸引企业在沪设立全球供应链管理中心，加快大宗商品 资源配置枢纽建设，着力提升船舶管理、航运保险、海 ...

对于市场高度关注的中央企业"新兴支柱产业"，国务院国资委日前再做部署。2月2日，国务院国资委党 委召开专题党委会议。会议强调，要抓好新兴产业和未来产业培育，加快推动国资央企打造一批新兴支 柱产业，更好助力现代化产业体系建设。 据了解，打造新兴支柱产业将成为国资央企2026年重要工作之一，本次会议也进一步确立了这项工作的 重要性。 国务院国资委科技创新局局长张剑龙在1月28日召开的国新办新闻发布会上透露，国务院国资委正在研 究起草关于推动中央企业培育新兴支柱产业的工作文件，引导中央企业实现从重大项目投资、领军企业 培育、关键领域突破到国有经济整体布局优化的跨越式发展。 加快构建现代化产业体系，引导中央企业主动开放场景、释放需求、共享数据，加快科技领军企业和启 航企业培育，打造一批专精特新"小巨人"和单项冠军企业； 加快打造开放协同创新生态，推动央企与国家实验室、高校、科研院所发挥各自优势，健全常态化合作 机制，打通基础研究、技术研发到成果转化、产业化发展的全链条通道。 切实加强收入分配管理 要促进科技创新与产业创新深度融合，发挥国资央企优势，以科技创新重塑产业链、以产业发展牵引创 新链，加快向现实生产力转化； ...

本周A股市场整体维持弱势震荡态势，周五贵金属价格大幅波动一度令市场承压。在机构看来，支撑春 季行情的核心逻辑并未发生变化，贵金属板块预计短期将进入宽幅震荡阶段，但板块基本面并未出现反 转。 就后市配置而言，建议重视本轮行情中涨幅较低且具备较强逻辑支撑的板块。此外，关注景气业绩线索 和"十五五"规划建议重点提及的产业，看好的细分方向包括存储芯片、具身智能、AI端侧、储能、锂电 产业链等。 影响后市投资大事件 国家统计局：1月份资本市场服务等行业商务活动指数高于65% 国家统计局1月31日发布数据显示，1月份，非制造业商务活动指数为49.4%，比上月下降0.8个百分点。 国家统计局服务业调查中心首席统计师霍丽慧表示，1月份，受建筑业等行业景气度下降等因素影响， 非制造业总体景气水平有所回落；从行业看，货币金融服务、资本市场服务、保险等行业商务活动指数 均高于65%，市场活跃度较高。 银行密集提示贵金属业务风险 2026年以来，贵金属市场延续去年强势行情，但近期波动加剧，多家银行发布贵金属业务风险提示，强 调市场不确定性增加，价格大幅波动，建议客户"合理控制仓位，防范风险"。对于贵金属后市配置价 值，机构认为尽管短 ...

Core Viewpoint - Changping District aims to enhance its role in supporting the capital's development by building modern industrial clusters and focusing on innovation-driven growth [1] Group 1: Industrial Development - Changping will strengthen three leading industries: healthcare, advanced energy, and advanced manufacturing [1] - The district plans to expand emerging industries such as beautiful health, hydrogen energy, energy storage, energy internet, medical devices, and robotics [1] - Future industries will be strategically developed, including brain science and brain-computer interfaces, 6G technology, and cell and gene therapy [1] Group 2: Urban Integration and Quality of Life - The district will promote urban-rural integration and enhance urban renewal through the third round of the "Huitian Action Plan" [1] - Efforts will be made to create the Beijing North Ecological Corridor, improving the carrying capacity and livability of the new city [1]

Group 1: Core Development Strategy - Changping District is focusing on developing new productive forces and modern industrial clusters, aiming to create a world-class modern city led by science and education [1] - The district is constructing the G6 Innovation Corridor along the Jing-Zhang Expressway and the G45 Industrial Corridor along the Jing-Cheng Expressway, promoting the integration of central enterprises and various businesses [1] Group 2: Industrial Cluster Development - Changping District plans to implement a new round of leading industry action plans, focusing on "Artificial Intelligence+" and strengthening three trillion-level industrial clusters: pharmaceutical health, advanced energy, and advanced manufacturing [2] - The district aims to develop emerging industries such as beautiful health, medical devices, robotics, hydrogen energy, energy storage, and energy internet, targeting a revenue of over 10 billion yuan for the synthetic biology manufacturing industry this year [2] Group 3: Urban Quality and Infrastructure - The district is committed to enhancing urban quality and vitality through the integration of industry and city, ensuring the construction of key rail transit and main roads, and improving park road networks and municipal facilities [2] - Changping District is advancing the development of Changping New City and the urban renewal of Yong'an Ancient City, while implementing the third round of the "Huitian Action Plan" to promote 89 key projects [2] Group 4: Public Services and Community Development - The district will focus on 36 livelihood projects this year, enhancing public employment service capabilities and promoting the construction of quality housing, communities, and urban areas [3] - Changping District is advancing the construction of high-level comprehensive hospitals and optimizing services for children and the elderly through the "Changping Model" [3]

Group 1: Core Development Goals - The "14th Five-Year" period has seen significant progress in cultural initiatives, enhancing public cultural services for citizens [3] - The "15th Five-Year" plan aims to establish Beijing as a historical and cultural city, focusing on the protection and management of cultural heritage [4][5] - The plan emphasizes the integration of culture, commerce, tourism, and sports to create a comprehensive consumption experience [3] Group 2: Economic and Infrastructure Development - The fixed asset investment target for this year is set to exceed 1 trillion yuan, with a focus on strategic projects and infrastructure improvements [6][7] - Major projects include the implementation of significant industrial and infrastructure initiatives to enhance modern capabilities and public services [7] - The plan includes the establishment of a talent allocation mechanism to support core technology development and innovation [8][9] Group 3: Environmental and Health Initiatives - The "15th Five-Year" period will focus on achieving advanced carbon efficiency levels and improving ecological environments [10][11] - Measures will be taken to enhance the healthcare system, including the establishment of a tiered medical service system and improved access to healthcare resources [13] - The plan aims to promote green and low-carbon transitions in economic and social development [11] Group 4: Housing and Urban Development - The plan includes initiatives for urban renewal, such as the renovation of old elevators and the construction of accessible community spaces [12] - Housing policies will be improved to ensure better living conditions for new citizens and young people, with a focus on rental housing [12] - The goal is to transition from "housing for all" to "housing for livability," enhancing urban living quality [12]

报告提出，大力发展高精尖产业。巩固壮大实体经济根基，推动集成电路重点项目扩产量产，高水平建 设国际医药创新公园，全生态链推进绿色先进能源、新能源汽车、机器人、商业航天等重点项目；加快 建设全球数字经济标杆城市，全面实施"人工智能+"行动，建设国家人工智能应用中试基地；推进未来 产业先导区建设，培育6G、量子科技、生物制造等新增长点;推动传统产业提质升级，促进制造业数智 化转型。 北京商报讯（记者 程靓）1月25日上午，北京市第十六届人民代表大会第四次会议在北京会议中心开 幕。市长殷勇作政府工作报告。 ...

Core Insights - Beijing aims to accelerate the construction of a global benchmark city for the digital economy, with significant progress in artificial intelligence ecosystem development [1] - The digital economy's added value grew by 8.7%, highlighting the city's focus on modern service industries [1] Digital Economy Development - Major advancements in AI applications, with the number of registered large models in Beijing ranking first in the country [1] - Establishment of the Beijing Data Group and the launch of the Smart Beijing Innovation Center [1] Future Industry Initiatives - Beijing hosted the world's first humanoid robot marathon and the World Humanoid Robot Games, showcasing its leadership in robotics [1] - The city has successfully built a small-scale experimental network for 6G technology [1] - The Zhuque-3 reusable rocket made its inaugural flight, marking a milestone in aerospace innovation [1] - Several leading achievements in brain-computer interface technology were presented [1] Contribution of Modern Service Industries - The software information, technology services, and business services sectors contributed over 50% to economic growth [1] - The efficiency of financial services supporting the real economy continues to improve [1] - The Beijing Stock Exchange has 288 listed companies with a total market capitalization exceeding 860 billion yuan [1]