At present, the whole world is experiencing strict data privacy legislation. Globally operating organizations have no options left but to adopt cross-border and cross-regulatory compliance strategies to operate efficiently. One of the major factors that have drastically impacted the way companies interact with customers and use their data is the growing data protection regulations by the governments of different countries. One such regulation is General Data Protection Regulation (GDPR), a data privacy regulation enforced by European Union (EU) on May 2018. As per the GDPR, an organization must take consent from the citizen whose personal data it wants to process. Apart from GDPR, various other privacy laws prevail across the globe, such as Brazil’s Lei Geral de Proteçao de Dados (LGPD) and California Consumer Privacy Act (CCPA). Consent management platforms and solutions help the website meet the GDPR and compliance by gaining user consent for collecting their data for further use during website visits via cookies. They also help the websites automate and simplify the consent management process.

Cloud ERP is known as an enterprise resource planning software that can be accessed over the Internet. Hosted on a provider’s cloud computing platform, cloud ERP is typically delivered as a service (software-as-a-service or SaaS ERP). Cloud ERP software provides various advantages; one of the largest advantages of cloud ERP software is its almost limitless customizability. Add-on solutions, open APIs, industry-specific functions, and role-based dashboards allow companies to implement powerful decision-making tools, unparalleled data visibility, and a future-proof platform for success. Enterprises can implement chosen editions that have been designed to the needs of their specific industries— distribution, manufacturing, retail, and construction, among others. The field and office teams work in tandem to complete multiple projects under budget and on time, but challenges arise when they do not have efficient information. Constructionspecific ERP software integrates applications and systems—including financials, job cost accounting, inventory, CRM, payroll, and project management, among others—for a complete, real-time view of the business that instantly connects all workers in the team.

Some of the other drivers fuelling the growth of consent management market include stricter data privacy regulations, proliferation of data-driven technologies, increasing awareness and concerns for data privacy, and increasing demand for improved the customer experience. On the other hand, some of the restraining factors of the consent management market include diverse regional regulations, user resistance and consent fatigue, cost of compliance, and implementation challenges. The rise in incidents of data breaches across various industries is propelling the growth of the consent management market. For instance, in November 2021, California Pizza Kitchen (CPK), a restaurant chain, revealed a data breach that exposed the personal details of ~100,000 current and former employees. To reduce such data breaches and protect the information of the citizens, governments of various countries are enhancing their data protection regulations, which is further raising the need for consent management solutions. Furthermore, the growing need for the integration of blockchain technology in consent management solutions to augment user control and privacy will further propel the growth of the consent management market during the forecast period.

At present, the whole world is experiencing strict data privacy legislation. Globally operating organizations have no options left but to adopt cross-border and cross-regulatory compliance strategies to operate efficiently. One of the major factors that have drastically impacted the way companies interact with customers and use their data is the growing data protection regulations by the governments of different countries. One such regulation is General Data Protection Regulation (GDPR), a data privacy regulation enforced by European Union (EU) on May 2018. As per the GDPR, an organization must take consent from the citizen whose personal data it wants to process. Apart from GDPR, various other privacy laws prevail across the globe, such as Brazil’s Lei Geral de Proteçao de Dados (LGPD) and California Consumer Privacy Act (CCPA). Consent management platforms and solutions help the website meet the GDPR and compliance by gaining user consent for collecting their data for further use during website visits via cookies. They also help the websites automate and simplify the consent management process. Some of the other drivers fuelling the growth of consent management market include stricter data privacy regulations, proliferation of data-driven technologies, increasing awareness and concerns for data privacy, and increasing demand for improved the customer experience. On the other hand, some of the restraining factors of the consent management market include diverse regional regulations, user resistance and consent fatigue, cost of compliance, and implementation challenges.

At present, the whole world is experiencing strict data privacy legislation. Globally operating organizations have no options left but to adopt cross-border and cross-regulatory compliance strategies to operate efficiently. One of the major factors that have drastically impacted the way companies interact with customers and use their data is the growing data protection regulations by the governments of different countries. One such regulation is General Data Protection Regulation (GDPR), a data privacy regulation enforced by European Union (EU) on May 2018. As per the GDPR, an organization must take consent from the citizen whose personal data it wants to process. Apart from GDPR, various other privacy laws prevail across the globe, such as Brazil’s Lei Geral de Proteçao de Dados (LGPD) and California Consumer Privacy Act (CCPA). Consent management platforms and solutions help the website meet the GDPR and compliance by gaining user consent for collecting their data for further use during website visits via cookies. They also help the websites automate and simplify the consent management process.

收益率是决定资金投向的一个关键性因素，如果金融市场收益率较低，实体投资收益率在扣除风险补偿后仍然较高，则会增加实体经济的吸引力。从投资性价比角度来看，当前我国金融市场投资收益率相对贷款利率可能偏高，国债、同业存单、企业债等金融产品相对吸引力偏强，一定程度上会影响资金进入实体经济的幅度，进而影响货币供给的有效性。随着经济增速下降，投资收益率也会降低，需要较低的利率水平与之配套。国际经验显示，美国和日本在经历经济增长降速换挡后，利率水平均同步下行，经常处于极低水平。中长期看，我国经济增速已在缓慢下降，利率有下行诉求。实际利率角度，无论与国际相比，还是与我国历史中枢水平相比，当前我国实际利率明显偏高。

我们对科技创新公司债、科创票据研究已久，于去年 8 月起陆续发布科创票据、科技创新公司债、混合型科创票据市场、高技术行业产业债深度解析相关的 6 篇专题报告。本篇分析科创品种债 2024 年 以来发行结构，以及首次发行科技创新公司债（以下简称“科创公司债”）、科创票据的主体的特征。

上市券商是打造一流投行及投资机构的核心力量，也是加快推进金融强国建设过程中 的关键环节。2009 年，证监会首次发布《关于加强上市证券公司监管的规定》，并分 别于 2010 年、2020 年进行了修订，但从实施效果看，我国上市券商在公司治理、投资者保护、信息披露、合规风控等方面与国际一流投行还有很大差距。2024 年 4 月， 新“国九条”颁布，同日，证监会就《关于加强上市证券公司监管的规定》等 6 项制 度规则向社会公开征求意见。《规定》作为“1+N”制度体系中的“N”，与新“国九条”共同完善资本市场制度建设。

泡沫危机爆发后日本寿险业陷入长达二十年的利差损，前后共有七家寿险公司相继破产，反观我国寿险业，负债及资产均优于彼时的日本。利差损的爆发时期（1990-2001 年），非“一日之失”，而是风险长久积累后的逐渐爆发。风险积累：1990 前日本经济快速增长叠加较高的预定利率，1960-1990 年寿险保费收入 CAGR 高达 16.9%，寿险深度由 1.6%大幅提至 6.2%，且预定利率在 6%以上，再是超长期储蓄产品占比提升，积累了大量的、高成本的、超长期负债。风险爆发，泡沫经济破灭导致股市和房市先后崩盘，长端利率快速下行，而彼时行业资产结构配置非常激进（1990 年国债占比仅 3.8%，贷款、股票高达 37.9%、 22%），且资负久期缺口高达 10-15 年，因此利差损危机开始爆发。

低信贷不等同于经济支持力度弱。信贷总量增速从两位数的高增变成个 位数，但当前信贷增速“换挡”不能与“支持实体经济力度减弱”划等号。一是政策对资金空转愈加重视，关注点从“量”变成“质”。二是金 融业增加值核算方式优化，对总量有下拉影响。三是各省贷款增速与经济增速无必然联系。总体看，央行的思维可能已经改变，不追求信贷高增，统计局的统计口径也做了调整，这些变化一脉相承。