平安人身险1-11 月累计保费4673亿元，同比-2.5%（前值-2.5%）；11 月单月保费291 亿元，同比-1.2%（前值-1.2%），其中平安健康同比+42.1%（前值+38.4%），保持高增速。平安个险新单1-11 月累计保费1108 亿元，同比-14.7%（前值-14.5%）；11 月单月保费63 亿元，同比-17.5%（前值-19.5%），近两月负增长幅度有所扩大。太保寿1-11 月累计保费2026 亿元，同比-1.9%（前值-1.9%）；11 月单月保费90 亿元，同比-3.5%（前值-5.7%）。新华1-11 月累计保费1526 亿元，同比+17.2%（前值+22.7%）；11 月单月保费74 亿元，同比-37.3%（前值+3.5%），保费下滑料与公司销售重心转向开门红导致，对主力规模型产品形成一定替代。国寿1-11 月累计保费5862 亿元，同比+8.3%（前值+8.7%）；11 月单月保费203亿元，同比-2.9%（前值-4.7%），延续负增长。太平寿1-11 月累计保费1363亿元，同比+2.8%（前值+2.1%）；11 月单月保费78 亿元（前值89 亿元），同比+15.8%（前值+8.8%），主要因上年低基数引起。人保人身险1-11 月累计保费1210 亿元，同比+5.0%（前值+3.9%）；11 月单月保费65 亿元，同比+28.9%（前值+8.3%），增长主要来自于健康险（同比+89.8%，前值+25.8%）。

中国平安、中国人寿、中国太保、新华保险、中国人保近期陆续公布其11月份保费数据。从寿险方面来看，11 月五家上市险企共实现寿险保费收入721亿，YOY 降5.6%，表现依旧弱势，估计和险企将重心转移至开门红有关。今年11 月五家上市险企共实现寿险保费1.53 万亿，YOY 增3.9%。

11 月上市险企寿险原保费同比-5.80%，产险原保费同比-10.82%，11 月：寿险业务原保费合计760 亿元，同比-5.80%，环比-11.29%，产险业务原保费合计636 亿元，同比-10.82%，环比+6.31%。1-11 月：寿险业务原保费累计16019 亿元，同比+2.96%，产险业务原保费累计8230 亿元，同比+5.08%。

2020年国半导体设计行业增速大幅高于全球平均，嵌入式CPU/存储器/FPGA/ 通信及模拟芯片取得长足进展，通用CPU/EDA工具等有持提高。根据魏少军教授ICCAD 2020上的演讲，2020年中国半导体设计行业实现销售3819.4亿元， 同比增长23.8%, 大幅高于WSTS预测的全球行业增速5.1%。2020年销售额达1 亿元企业289家，较上年增加51家，反映过去一年中国企业在CPU/存储器/FPGA取得技术和产品上的突破，通信和模拟企业增长速度快。

对当前行情持谨慎乐观的态度。对上证权重板块相对乐观，应警惕板块炒作过热的风险。警惕前期涨幅过高、估值过高版块的回调风险。幷认为市场存在结构性风险和结构性机会。前期涨幅过大的板块短期存在调整的需要。当前人民币存在升值压力，看好优质的人民币资产。货币政策从宽货币向宽信用转变，幷注重精准导向。7.30政治局会议关于货币、财政政策的表述没有边际放松，甚至有所收敛。未来政策边际变化视乎海外疫情走向，及国内经济恢复情况。亦关注时有发生的中印冲突(升级可能性较小)、台海局势等可能存在的市场风险因素。

数据中心分为批发型和零售型两种模式。在国外，两种模式均取得了成功。国内，受政策影响，跑马圈地的批发型当前更受资本青睐；但从长期看，零售型更具有成长韧性。

The global video surveillance market reported a revenue of $35.05 billion in 2019 and is estimated to reach $51.36 billion by 2025, at a growth rate of 10.06% during the forecast period, 2020-2025. With the proliferation of low-cost cameras and technical maturity in the networking techniques, it has become possible to install a large number of cameras economically without compromising on the quality of communication network. The wide application of such systems has been highly influenced by the idea of ensuring safety in banks, government organizations, educational institutions, retail buildings, and penitentiaries, among others.

Waste-to-energy is the process of energy generation by the primary treatment of municipal solid waste. This process produces electricity or heat directly by combustion. In addition, it produces combustible fuel commodities such as methanol, methane, synthetic fuels, or ethanol. This report highlights the factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market growth. Moreover, it focuses on the overall demand for waste-to-energy across various countries and different applications, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices and considering the region-wise differentiated prices.

Waste management includes all types of waste including solid, liquid, or gas. Waste management deals with municipal, industrial, and hazardous waste. Municipal waste generally refers to residential waste and nonhazardous waste generated in towns and cities. The global waste management market is segmented on the basis of type, service, and region. On the basis of type, the market is divided into municipal waste, industrial waste, and hazardous waste. On the basis of services, it is classified into collection services and disposable services. The collection services segment is sub segmented into collection & transportation, storage & handling, and sorting. The disposable services segment is further segregated into landfills, recycling, compositing & anaerobic digestion, and others.

居民财富规模的增长，一方面取决于经济的发展，另一方面取决 于居民财富规模与 GDP 比值的提升。我们根据“十四五规划”， 假定未来 5 年中国人均 GDP 增速为 8%，“居民财富规模与 GDP 比值”较 2018 年提升 25%至 4.1 倍，那么未来 10 年国内居民财 富规模年化增速有望达到 10.3%。