A | (ECNS) -- As the summer travel season draws to a close, Zhangjiajie in Hunan Province continues to see robust inbound and inter-provincial tourism. Integrated transport enhancements, coupled with people-oriented services, have consistently invigorated Zhangjiajie's summer cultural and tourism consumption. This summer, Zhangjiajie Hehua International Airport has operated 40 routes connecting 44 cities worldwide. Utilizing a “direct international flights plus domestic transfers” model, the airport expanded flights to Northeast and Southeast Asia, while attracting long-haul tourists from Europe and the United States. To better support inbound visitors, travelers with a flight record from any Hunan airport within seven days are eligible for various discounts on Zhangjiajie's attractions, hotels, restaurants, and shows. Zhangjiajie is a fantastic city, said Russian tourist Kanivets, noting that the Russian-speaking volunteers at its scenic areas were a great help — and that shoppers could even enjoy a discount there. For land travel, the city has deployed 78 custom electric shuttles to provide point-to-point transfers from airports and rail stations to scenic areas. By August 24, Zhangjiajie had recorded over 5.1 million tourist visits this year, a 16.88% year-on-year increase, driving consumption past 5.2 billion yuan (about $773 million). (By Intern Lin Qiaochu, Zhang Dongfang) 
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B | 获悉，中信证券研报称，《保险公司资产负债管理办法》正式出台，将业务规划、产品定价、销售管理、资产配置、重大投资和绩效考核纳入统一的资产负债联动框架，并以监管指标形成硬约束。
C | 行业竞争将更多取决于负债成本管控、长久期资产获取、跨部门协同等能力，保险公司能否由负债端单向驱动转向以资产负债匹配为约束的协同经营，将成为中长期竞争力分化的关键。头部保险公司有望借势巩固竞争壁垒；中小保险公司则面临治理机制、投资能力和产品策略的系统性重塑。建议重点关注估值具备安全边际、处于中长期修复通道、周期向上且具备高赔率的头部优秀保险公司。
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