2025 年 1 月，我国数字经济指数环比上升 0.8%，录得 387。本月数字经济指数的上升主要由于融合指数的上升， 产业指数、溢出指数、融合指数和基础指数分别对总指数贡献 -0.07%、0.52%、1.18%、-0.84%。

医保控费大势所趋，商保补充作用有限。我国目前形成以医疗救助为托底，以基本医疗保险为主体，以商业医疗保险为补充的医疗保险体系。1）从医保基金累计结余增长来看仍然存在较大压力，2023年我国基本医保参保人数达到13.3亿人，2024年基 本医保收入增速5.5%，同期支出增速4.4%，支出增速再次大于收入增速，基金累计结余5.31万亿元，较上年增长0.51亿元，2024年医保基金累计结余增速放缓。2）商业医疗保险作为基本医保的补充保障，2022年商业健康保险支出3600亿元，同期基本医疗保险支出24697.2亿元，为商保支出的6.9倍。商业健康保险的支出占比仅仅占到总体保险体系支出的13%，作用仍然有限。3）参考国际经验，中国商保在卫生支出中占比较低，赔付水平较低。

我们认为资金最紧的阶段可能即将过去。下周政府债缴款维持高位，可能对资金面形成扰动，但 MLF 投放、税期走款结束等因素将缓解资金压力；此外， 2 月末资金面大多边际转松，可能与跨月财政投放、两会前央行呵护有关。

春节效应叠加暖冬天气，CPI 增速小幅上行  春节错位效应，信贷需求边际扰动  展望未来：稳增长政策持续发力，经济复苏继续

近期市场机器人概念火爆，早在 2015 年国内指数公司便已发布机器人相关指数，当前有挂钩指数的产品可供投资。我们梳理了国内的 20 只机器人相关指数，各指数在选样空间、成份股数量、加权方式、业绩表现上有所差异。已有产品挂钩的中证机器人指数和国证机器人产业指数在 1 年、3 年、5 年期业绩上也有差别。14 家基金公司提供了包括指数基金、ETF 和 ETF 联接基金在内的 32 类产品份额供投资者选择。

We build shareholder value by carving a niche in the global arena, earning market respect through outstanding products and services, endorse human capital development and enhance business synergy in diversity with sustainability principles underpinning our corporate thinking and actions

Tickets refer to authorized documents that grant a person admission, entry, or participation in an event, activity, or mode of transportation. Whether physical paper or digital, tickets serve as proof of payment and often contain essential details such as the date, time, venue, seat number, or destination of an Event. Tickets can be used for various purposes, including concerts, sports events, theaters, movies, flights, trains, buses, or even raffles. These play a crucial role in ensuring organized and controlled access to different experiences, enabling individuals to enjoy specific services or attend specific occasions.

Treasury and risk management software is used to streamline corporate treasury operations, optimize cash management, and ensure regulatory compliance, as well as risk management. The software is used to manage an organizations financial operation, such as their cashflows, assets, and investments.

OCI Global Annual Report 2023

全球邮轮旅游市场重点洞察报告

Now in its fourteenth edition, the Global Wealth Report explores how wealth is created, how it varies across regions globally, and how it transforms, evolves, and migrates across generations.

Global Wellbeing Report 2023

InsurTech refers to insurance technology, where technological innovations are used to improve efficiency and savings from the conventional insurance industry model. Many venture capital firms are investing in InsurTech startups. InsurTech firms are leveraging the power of software to promote different insurance products and other portfolio management tasks. These startups offer platforms or technologies for insurance companies and can disrupt the less technologically savvy corporations. InsurTech platforms help insurance companies facilitate their operational efficiency. They can lower the cost of insurance products using InsurTech platforms.

Adtech is a set of technologies or platforms that are used by publishers or business organizations for managing advertising across channels, including search, display, video, mobile and social, with capabilities for digital advertising targeting, design, bid management, analytics, optimization, and automation. The platform helps business organizations or agencies/publishers buy ad space.

Limousine services refer to the provision of luxury transportation in high-end vehicles such as stretch limousines, luxury sedans, or SUVs. These services are designed to offer clients a premium and chauffeured travel experience for various occasions, including airport transfers, corporate events, weddings, and special occasions. Limousine service providers typically offer amenities such as plush interiors, entertainment systems, privacy partitions, and professional chauffeurs to ensure comfort, convenience, and style for their clients. The focus on luxury, comfort, and personalized service sets limousine services apart from standard mobility options, making them a popular choice for individuals and businesses seeking an elevated and sophisticated travel experience.

A single dwelling unit that is less than 400 square feet in size and is constructed on a fixed or movable foundation is referred to as a tiny home. It provides a number of noteworthy benefits to both consumers and the communities in which they reside, including lower costs of acquisition, less waste from building materials, a smaller carbon footprint, and noticeably lower energy usage. Tiny homes provide a wide variety of high￾quality, reasonably priced, and ecologically friendly housing options.

A single dwelling unit that is less than 400 square feet in size and is constructed on a fixed or movable foundation is referred to as a tiny home. It provides a number of noteworthy benefits to both consumers and the communities in which they reside, including lower costs of acquisition, less waste from building materials, a smaller carbon footprint, and noticeably lower energy usage. Tiny houses provide a wide variety of high-quality, reasonably priced, and ecologically friendly housing options.

Budget apps are digital tools designed to help individuals, families, or businesses track, plan, and manage their finances. These apps allow users to monitor their income, expenses, and savings, set financial goals, and ensure that they stay within their budget. Budget apps often include features like expense categorization, bill reminders, debt tracking, and reports, offering insights into spending patterns and providing recommendations to improve financial health.

Wine e-commerce refers to the online retail sales of different types of wine through different sales channels. Wine producers sell their products directly to consumers through their e￾commerce websites or online marketplaces. Wine e-commerce includes the use of digital platforms and technology, such as online ordering systems and mobile apps, to facilitate transactions and hold virtual wine-tasting events.

美股科技巨头24Q4业绩解读：加码资本开 支和AI投入，25年增长动力在哪里