点评：商务部等部门鼓励保险机构开发适配药品零售场景的商业健康保险产品，标志着中国在构建多元 化医疗保障体系方面迈出积极一步。政策推进了商业健康保险与基本医疗保险的协同发展，对于降低患 者用药负担、改善公共健康体系具有重要意义。 |2026年1月23日 星期五| NO.1央行行长潘功胜：2026年将继续实施好适度宽松的货币政策，发挥增量政策和存量政策集成效应 据新华社，中国人民银行党委书记、行长潘功胜在接受采访时表示，2026年，中国人民银行将继续实施 好适度宽松的货币政策，把促进经济稳定增长、物价合理回升作为货币政策的重要考量，发挥增量政策 和存量政策集成效应，为经济稳定增长、高质量发展和金融市场稳定运行营造良好的货币金融环境，为 实现"十五五"良好开局提供有力的金融支撑。 NO.2央行：1月23日将开展9000亿元MLF操作，期限为1年期 央行公告，为保持银行体系流动性充裕，2026年1月23日，中国人民银行将以固定数量、利率招标、多 重价位中标方式开展9000亿元MLF操作，期限为1年期。 点评：央行宣布将于2026年1月23日开展9000亿元MLF操作，期限为一年，旨在保持银行体系流动性充 裕。此举表明 ...

Group 1: Space Tourism - ChuanYueZhe Company has booked over 20 space tourists and plans to achieve its first manned flight by 2028 [1] - The first batch of space tourists includes notable figures such as Li Lihua, Qiu Heng, Wang Jing, and Fu Zhekuan, along with a silicon-based life form [1] Group 2: Monetary Policy - The People's Bank of China, led by Governor Pan Gongsheng, indicates that there is still room for interest rate cuts and reserve requirement ratio reductions in 2026 [2] - The central bank aims to maintain a stable economic growth environment and ensure that monetary policy supports the "14th Five-Year Plan" [2] Group 3: Gold Price Forecast - Goldman Sachs has raised its gold price target for December 2026 from $4,900 to $5,400 per ounce, citing increased diversification into gold by the private sector as a hedge against global uncertainties [2] Group 4: Semiconductor Industry - ASMPT announced the divestiture of its SMT business to focus on its core semiconductor sector, which is seen as a move to clarify the value of its semiconductor assets [2] Group 5: Autonomous Vehicles - CaoCao Mobility plans to deploy 100,000 fully customized Robotaxis by 2030, with pilot operations already underway for its second-generation Robotaxi [3] Group 6: Cryptocurrency and AI - BitGo Holdings raised $212.8 million in its IPO, setting a precedent for digital asset companies in 2026 [4][5] - Binance founder Zhao Changpeng expressed optimism about the future of tokenization, payments, and AI, predicting that cryptocurrencies will become the native currency for AI agents [6] Group 7: Health Insurance - Nine Chinese departments, including the Ministry of Commerce, are promoting the development of commercial health insurance products tailored for the pharmaceutical retail sector [7] Group 8: International Relations - The Chinese Ministry of Foreign Affairs expressed serious concerns over the EU's classification of certain Chinese companies as high-risk suppliers, emphasizing the importance of fair treatment in international trade [8] Group 9: AI Regulation - South Korea's AI Basic Law, effective January 22, aims to support the healthy development of the AI industry while mitigating potential risks associated with AI technologies [9]

1月22日，商务部联合国家发展改革委、国家医保局等9部门正式印发《关于促进药品零售行业高质量发展的意见》（以下简称"意见"），围绕完善药事服 务、创新健康服务、强化应急服务、优化行业结构、规范行业秩序五大维度推出18项具体举措，旨在强化药品零售行业专业服务、健康促进、应急保供等功 能，打造更好服务人民医药健康需求的"健康驿站"。 此外，意见鼓励行业协会或区域医药流通龙头企业牵头，引导药品零售企业参与药品集中带量采购。针对其他药品，鼓励零售药店整合采购需求，开展联合 采购，实现量价挂钩，提升议价能力。 意见还特别提到引导商业健康保险与基本医疗保险协同发展，支持保险机构开发适配药品零售场景的商业健康保险产品，满足群众多元化保障需求。针对高 值药品、器械，支持药品零售企业与商业保险机构建立风险共担、便捷高效的支付协同机制，切实降低患者支付压力。 针对应急保供需求，意见明确将强化零售药店"哨点"功能，鼓励大型连锁企业建立药品需求动态预测和低库存预警机制。鼓励在疫情、灾情等突发情况下开 展24小时营业、拆零销售、免费送药等服务，稳定药品价格并引导合理用药。 在完善药事服务方面，意见提到，促进处方流转提升购药体验。持续推 ...

意见提出，推动药品零售企业参加药品集中采购。鼓励行业协会或区域医药流通龙头企业牵头，引导药 品零售企业参与药品集中带量采购。针对其他药品，鼓励零售药店整合采购需求，开展联合采购，实现 量价挂钩，提升议价能力。支持药品零售企业按规定通过省级医药采购平台采购，生产企业需做好供应 保障。 1月22日，商务部等九部门联合发布《关于促进药品零售行业高质量发展的意见》提出，推动药品零售 企业参加药品集中采购，构建商业保险支付保障体系，丰富药品零售业态，助力医药产品升级，支持零 售药店进行兼并重组等。 意见强调，鼓励药品零售企业依法开展横向并购与重组。鼓励各地优化营商环境，对于被整合的连锁或 单体药店，优化《药品经营许可证》申请核发流程。涉及医保资质变更的，允许原医保资质继续存续和 使用，新医保资质正式开通后，注销原医保资质。 鼓励药品批发企业依法通过兼并重组整合供应链与零售终端，推动批零一体化发展，实现仓储物流资源 共用、质量管理体系协同及全流程信息追溯，提升供应链效率，有效降低运营成本。 国信证券认为，连锁药房行业正在经历由规模扩张至质量竞争的深度转型期。2023年我国零售药店市场 规模为9293亿元，同比增长6.5% ...

《意见》还提到，鼓励保险机构开发无人机药械配送责任险。 《意见》提到，引导商业健康保险与基本医疗保险协同发展，支持保险机构开发适配药品零售场景的商 业健康保险产品，满足群众多元化保障需求。鼓励商业保险机构推出涵盖健康管理、康养照护等服务的 商业健康保险产品。针对高值药品、器械，支持药品零售企业与商业保险机构建立风险共担、便捷高效 的支付协同机制，切实降低患者支付压力。 北京商报讯（记者 李秀梅）1月22日，商务部等9部门发布《关于促进药品零售行业高质量发展的意 见》（以下简称《意见》）。 ...

（文章来源：第一财经） 商务部等9部门发布关于促进药品零售行业高质量发展的意见。其中提出，构建商业保险支付保障体 系。引导商业健康保险与基本医疗保险协同发展，支持保险机构开发适配药品零售场景的商业健康保险 产品，满足群众多元化保障需求。鼓励商业保险机构推出涵盖健康管理、康养照护等服务的商业健康保 险产品。针对高值药品、器械，支持药品零售企业与商业保险机构建立风险共担、便捷高效的支付协同 机制，切实降低患者支付压力。 ...

Investment Rating - The report assigns an "Accumulate" rating for the industry [1] Core Insights - The National Medical Security Work Conference emphasizes the continuation of optimizing centralized procurement policies in 2026, promoting the development of maternity insurance and long-term care insurance, and leveraging strategic purchasing to support the innovative drug industry [3] - The report highlights the importance of commercial health insurance in complementing basic medical insurance and encourages investment in innovative drug development [5] Summary by Sections National Medical Security Work Conference - The conference held on December 13, 2025, summarized the work during the "14th Five-Year Plan" period and outlined the tasks for 2026, including support for commercial health insurance and the establishment of a multi-tiered medical security system [5] - The National Medical Security Bureau will promote the inclusion of flexible employment workers and migrant workers in maternity insurance coverage, aiming for "no out-of-pocket" expenses for childbirth within policy limits [5] Support for Innovative Drug Development - The report discusses the strategic role of medical insurance in fostering healthy competition and differentiated innovation within the pharmaceutical industry [5] - It mentions the implementation of new rounds of national centralized procurement for drugs and high-value medical consumables, aiming to enhance the efficiency of company receivables [5]

Core Viewpoint - Shanghai has introduced a new set of measures aimed at enhancing the development of commercial health insurance and supporting innovation in the biopharmaceutical industry, focusing on improving the multi-payment mechanism and data sharing among medical institutions, pharmaceutical companies, and insurance providers [1][2]. Group 1: Policy Measures - The new measures, referred to as "New 18 Measures," aim to strengthen the collaboration between basic medical insurance and commercial health insurance, addressing core issues related to the application of innovative medical devices and patient payment [1][3]. - The document emphasizes the importance of data sharing among medical institutions, pharmaceutical companies, and commercial insurance companies to facilitate product development and pricing [2][3]. - The measures encourage the development of innovative commercial health insurance products that can expand basic coverage and provide reasonable pricing [3][4]. Group 2: Data Sharing and Collaboration - The new policies establish a framework for a data-sharing mechanism among medical, insurance, and pharmaceutical sectors, ensuring data security and privacy while expanding the scope of data available for product design and risk assessment [2][3]. - Insurance companies are encouraged to access historical health data in a secure environment to support the development of targeted insurance products [3][4]. - The measures aim to enhance the interaction between insurance institutions and the biopharmaceutical industry, promoting collective procurement and payment mechanisms to improve the accessibility and affordability of innovative medical devices [7]. Group 3: Targeted Insurance Products - The new measures support the development of various health insurance products, including group insurance, special disease insurance, and high-end medical services, tailored to specific populations such as the elderly and those with pre-existing conditions [2][5]. - The policies also propose using personal account balances for purchasing insurance products, thereby facilitating access to health insurance for a broader audience [5][6]. - The measures highlight the importance of group insurance products, which do not differentiate based on pre-existing conditions, as a key growth area for the health insurance industry [6]. Group 4: Financial and Operational Support - Shanghai aims to address fundamental issues affecting the commercial health insurance sector, such as funding challenges and customer acquisition difficulties, through multi-departmental collaboration [4][6]. - The new measures propose financial incentives for employers to purchase group health insurance for employees, allowing for shared premium payments and tax deductions [6][7]. - The integration of commercial health insurance with basic medical insurance is emphasized, with a focus on optimizing claims processes and expanding the coverage of innovative medical devices [6][7].

Group 1 - The core viewpoint of the article is the issuance of measures to promote the high-quality development of commercial health insurance, which aims to support innovation in the biopharmaceutical industry [1] - The measures emphasize the enhancement of the application of medical insurance data in commercial insurance settlements, optimizing the synchronous settlement model between medical insurance and commercial insurance [1] - The initiative includes the collaboration with the "Shanghai Insurance Code" platform to improve direct compensation service processes and expand access to more medical institutions and commercial health insurance products [1] Group 2 - The measures aim for full coverage of secondary and tertiary hospitals and explore extending direct compensation services to special departments and international departments of hospitals [1] - The "Shanghai Insurance Code" will be improved to enhance its "one code for all compensation" functionality, utilizing blockchain technology to build an active compensation system between medical insurance and commercial insurance [1] - The initiative also focuses on ensuring the traceability of the entire process through authorized information, transaction records, and claims results being recorded on the blockchain, thereby increasing the transparency and efficiency of the claims service [1]

Core Viewpoint - The National Healthcare Security Administration (NHSA) is leveraging healthcare data to drive innovation in the medical and health sectors, launching the "2025 National Smart Healthcare Competition" to address public welfare challenges through digital means [1][2]. Group 1: Competition Overview - The competition, initiated on August 1, 2025, is the third annual event organized by NHSA, aiming to transform innovative solutions into practical applications [1]. - This year's competition adopts a new format without specific tracks, allowing participation across over ten fields including healthcare innovation, financial insurance, and public service [2][3]. Group 2: Data Integration and Collaboration - The competition emphasizes three guiding principles: "Connecting," "Integrating," and "Opening," focusing on activating healthcare data to empower various industries [2][3]. - It will feature cross-regional integration of healthcare data from the Yangtze River Delta, providing a secure data environment for participating teams [3][6]. - NHSA aims to foster collaboration by integrating healthcare data with public data from Shanghai, enhancing the quality of data available for competition [3][5]. Group 3: Application and Future Directions - The competition will explore applications in areas such as innovative drug development, healthcare services, and intelligent fund supervision, supporting the integration of healthcare data into broader economic sectors [4][6]. - Participants will have access to real-world data, enabling them to address practical challenges in healthcare and policy adaptation [7].