Banking encryption software is data protection platform that allows banks to confidentially exchange the transaction details document with their customers. Furthermore, numerous benefits provided by banking encryption software service include high security, hassle free data transaction service, and others which enhance the growth of the market. In addition, various banks and financial institutions are using banking encryption software service to provide secure payment processing service to its customer. This increases the adoption of encryption software among banks, thereby driving the growth of the market.

The coworking industry has witnessed significant growth before the outbreak of the virus that has hampered the operations globally, but COVID 19 is seen as another driving factor for the coworking market During the period 2016 2019 the coworking industry has experienced strong double digit growth, with 12 17 rise in the number of members joining coworking spaces year on year The trend of start ups was a major contributing factor before the virus outburst China being largest populated and strong economy driven country has seen more than six million start ups registered in 2017 and in terms of revenue the Coworking market in China reached to RMB 5 47 billion Home grown technology companies are fueling the coworking demand in China, by 2018 there were around 120 homegrown unicorns that accounted for 50 of the global number However, due to economy slowdown in 2019 according to a report by the China Real Estate Chamber of Commerce ( in first 10 months almost 40 coworking hubs were closed down

The demand from the US and India aftermarket is expected to rebound the fastest, while China will continue to be most lucrative market, in terms of real growth.

Business-to-business (B2B) payment involves the transaction of value denominated in currency from buyer to supplier for good or services supplied in the market. Its benefits firms with easier payment process and accelerates transfers of funds. Furthermore, B2B payments between two entities are influenced by a number of variables, such as frequency, volume, sector, and interest charges, which does not impact customer payments.

A divergent economic recovery from the crisis created by the pandemic risks deepening global divisions at a time when societies and the international community urgently need to collaborate to check COVID-19, heal its scars and address compounding global risks. In some societies, rapid progress on vaccination, leaps forward on digitalization and a return to pre-pandemic growth rates herald better prospects for 2022 and beyond. Others could be weighed down for years by struggles to apply even initial vaccine doses, combat digital divides and find new sources of economic growth. Widening disparities within and between countries will not only make it more difficult to control COVID-19 and its variants, but will also risk stalling, if not reversing, joint action against shared threats that the world cannot afford to overlook.

We entered 2022 with high rates of inflation in the United States and Europe, continuing disruption of global supply chains, a shortage of labor in key markets, and a reversal of monetary policy in the United States and Europe. December 2021 and January 2022 experienced the worst outbreak of coronavirus infections, with the omicron variant, since the start of the pandemic. And yet retailers have reasons for optimism. Supply chain disruption is likely to abate. Inflation is likely to recede. Major economies are likely to grow at a healthy pace in 2022, especially as many consumers are flush with cash. And, despite political tensions between major countries, trade and cross-border investment continues apace, thereby allowing global retailers to enjoy the fruits of globalization.

A city that is connected to the internet and is driven by a underlying technological platform for information and communications management.

A city that is connected to the internet and is driven by a underlying technological platform for information and communications management. These platforms are capable of processing and analyzing huge volumes of data to offer new services to the citizens and for the overall management of the urban environment.

CAPM 资产定价模型的研究和实践：CAPM 模型主要研究资产的预期收 益率与风险补偿之间的关系，以及均衡价格是如何形成的。目前全球 通胀下无风险收益率上行推动资产预期收益率上行，持续降低权益资 产估值。全球权益资产更类似牛市末尾（资产预期收益率上行、风险 补偿下行）特性。

上市寿险公司4 月单月保费同比+0.3%，较3 月增速-0.8pct，预计新单降幅或明显收窄。1）上市寿险公司4 月单月保费同比+0.3%，较3 月增速略有下滑。我们认为疫情影响下，保险消费需求疲软是4 月保费增速表现不佳的主要原因。2）我们预计大部分险企在低基数下新单保费降幅或明显收窄。人保寿险、人保健康险4 月单月长险首年保费分别同比+23.9%、+62.5%。其中寿险长险首年趸交保费增速由正转负，单月同比-10.2%，期交保费同比+76.9%，较3 月+36.1pct，人保健康险趸交业务延续放量扩张，同比增长近34 倍，长险期交增速则同比-20.6%，较3 月降幅收窄16.0pct。

我们树立了2008年以来券商板块 7 次涨幅较大的阶段性行情中表现靠前的券商股的特征。

四月，恒生指数收报21997 点，下跌4.13%，恒生科技指数收报4427 点，下跌1.89%，恒生国企指数收报7229 点，下跌3.02%，香港中资券商指数收报689 点，下跌6.94%。

本周，主要内资港股险企 2022 年 4 月保费数据披露完毕。

自2020 年11 月交易商协会发布《关于试行非金融企业债务融资工具现金要约收购业务的通知》（以下简称《通知》）起，截止4 月25 日，国内债券市场共计完成了27 单现金要约收购业务，多数发行人以自有资金收购未到期的债券以调整自身的负债结构。目前我国现金要约回购业务发展仍处于初级阶段，本文通过梳理现金要约回购的监管政策、参与企业的特征等挖掘可能存在的投资机会。

本文解读投资体系日渐成熟、行业配置能力突出、选股能力和交易能力优秀的基金经理——建信基金孙晟。我们认为，孙晟先生管理的基金收益确定性高、不同市场行情适应性强，高度切合中等风险偏好的机构资金需求。

银行理财发源于外币结构性存款产品。2004 年光大银行发行了首只面向个人的人民币理财产品，揭开了国内银行理财的发展序幕。但多年来，银行理财“刚性兑付”问题严重，危及银行体系的稳健运行。

宏观经济方面，4 月数据显示疫情对经济产生了显著的影响。从需求端来看， 固定资产投资、消费、出口增速均有所下行。其中消费增速处于负增长区间，固 定资产投资中基建投资从高位回落，地产投资加速下行。出口产业链受到疫情冲 击，东南亚对我国的替代效应增强。从生产端来看，疫情产生了显著冲击，尤其 是集中在长三角地区的制造业、汽车、高新技术产业，当月增速降幅最大。总体 而言，经济下行压力增大，失业率4 月继续攀升，就业压力较大。稳增长的政策 仍然需要陆续出台，近期多个城市放松限购政策，央行对房贷利率下限也有所调 整，预计将对地产销售形成一定提振。同时，随着上海疫情拐点初步显现，物流、 产业链逐步修复，疫情对经济负面影响预计将逐步减弱。

《中华人民共和国国民经济和社会发展第十四个五年规划和2035 年远景目标纲要》提出：“以促进城市群发展为抓手，全面形成‘两横三纵’城镇化战略格局。优化提升京津冀、长三角、珠三角、成渝、长江中游等城市群”。

4 月下旬以来，美联储紧缩预期明显加强，叠加IMF 下调中国经济增速 预测，人民币汇率出现快速调整。与历史上三轮人民币大幅贬值相比， 本轮人民币贬值速度明显加快，有助于释放压力，避免预期积累。当月， 人民币对美元双边汇率和三大汇率指数均有所回调，有助于减轻企业财 务影响、提升出口竞争力。

收入结构、后市走向对经纪业务收入会产生较大影响。与往年不同，今年 一季度市场景气度大幅下行，但股基交易量仍在高位，代理买卖证券业务 受损不明显。往年牛熊交替时期，区间换手率往往较高，股基交易量大多 保持在高位。但若市场持续震荡进入全面熊市，股基交易量亦容易出现明 显下滑。受申赎及基金结构变化影响，代销金融产品业务产生较明显的收 入下滑。全年业务展望，若后市景气度未见明显提升，悲观预期全年经纪 业务同比-25%，代理买卖证券业务收入占比较高或代销金融产品业务中来 自管理费分佣较高的券商收入下滑会较小一些。若后市景气度得到回暖， 乐观预期行业收入同比增长9.2%，财富管理收入占比较高的券商增长更为 明显。