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2025-12-15 Monday

2025-12-20

2025-12-14 Sunday

20:47:20

On December 13, the Hainan Provincial Government held a brainstorming session to implement the spirit of the Central Economic Work Conference, focusing on the solid advancement of the Hainan Free Trade Port construction. The session included a special discussion on the expected indicators, key initiatives, breakthrough measures, and major projects for the province's economic and social development during the 15th Five-Year Plan period, particularly up to 2026. Governor Liu Xiaoming presided over the meeting. The meeting emphasized the need to understand the current situation, correctly recognize the environment facing economic development, strengthen confidence, leverage advantages, and enhance internal capabilities. It stressed the importance of focusing on the high-standard construction of the Hainan Free Trade Port, implementing precise breakthroughs and a comprehensive approach, fully tapping economic potential, and gaining strategic initiative in promoting high-level opening-up and achieving high-quality development. The meeting also emphasized the need to accelerate the transformation of policy resources into industrial resources, cultivate and strengthen the "five-pronged approach" characteristic industrial chain, develop new productive forces according to local conditions, and build a modern industrial system with Hainan characteristics and advantages to solidify the foundation of the real economy. Finally, the meeting stressed the need to strengthen the Hainan Free Trade Port's channel function, serving as an exploratory channel for institutional opening-up and a fast track for the flow of goods and factors of production. We will accelerate the development of a fast-track system, actively expand and divert traffic to increase the scale of domestic demand; focus on improving the quality of supply, strengthen the planning and reserve of projects related to people's livelihoods, and expand consumer markets such as youth, the elderly, and foreign tourists to accelerate the release of domestic demand potential; strengthen the allocation of resources and factors, give full play to the integrated effects of policies such as EF accounts, expand cross-border financial business, actively develop airport and port-related industries, create a digital economy industrial cluster with international competitiveness, and improve the quality and efficiency of the service industry; prevent and resolve risks in key areas, and firmly safeguard the bottom line of safety; build an efficient government, optimize government services, resolutely resolve historical issues, continuously serve existing enterprises, provide full-process services for new enterprises, and create a first-class business environment that is market-oriented, rule-of-law-based, and internationalized. (Hainan Release)

20:12:22

[Beware of the Approaching Year-End Liquidity Shortage: A Market Amplifier for Sudden Violence] ⑴ On Sunday, a shooting at a Jewish holiday event in Bondi Beach, Sydney, left 10 people dead and about 12 injured. The Israeli president called it a "despicable terrorist attack," immediately drawing global attention. ⑵ On the same day, German authorities announced the arrest of five men on Friday at the German-Austrian border, suspected of planning an attack at a Christmas market in Bavaria with the intention of causing mass casualties. ⑶ On Saturday, a shooting at Brown University in the United States resulted in the deaths of two students and injuries to nine others. More than 400 law enforcement officers were deployed to the search. The incident occurred during exam season and in a densely populated area. ⑷ Historically, market liquidity typically decreases significantly during the year-end holiday period. Any sudden geopolitical or social security event at this time can amplify risk aversion amplified by sparse trading volume. ⑸ Traditional safe-haven assets such as gold tend to react more sensitively and violently to negative events in a illiquid environment, with price fluctuations potentially exceeding expectations for normal times. (6) Traders should be wary that the end of the year is not only a holiday season but also a period when market structures are often vulnerable. A lack of liquidity can exacerbate short-term price fluctuations triggered by unforeseen events. (7) It is recommended to closely monitor the liquidity injections by major central banks at the end of the year, as well as changes in institutional investors' positions. These factors will affect the market's actual ability to absorb the impact of unforeseen events.

15:51:33

[Official Interpretation of the "Notice on Strengthening Business and Financial Collaboration to Boost Consumption" by the Head of the Finance Department of the Ministry of Commerce] First, adhere to a goal-oriented and problem-oriented approach. Thoroughly understand the situation from relevant local departments, financial institutions, and enterprises; summarize the experiences and practices of 37 local commerce authorities and 6 representative financial institutions in boosting consumption; analyze the bottlenecks hindering the release of consumption potential; and propose targeted policy measures. Second, adhere to a systemic approach. Strengthen regular communication and exchange between the commerce and financial systems; encourage enhanced policy coordination, work alignment, and information sharing; comprehensively plan existing and new policy measures; leverage the combined effect of various policies; and build greater synergy. Third, adhere to adapting to local conditions. Encourage relevant local departments and financial institutions to refine support measures based on their actual situations, conduct work in a way that is tailored to local conditions and circumstances, form distinctive experiences and practices, and strengthen publicity, guidance, and replication. Next, the Ministry of Commerce will work with the People's Bank of China and the State Financial Regulatory Commission to guide relevant departments and financial institutions in various regions to strengthen cooperation, promote the implementation and effectiveness of relevant measures, and provide greater support for improving people's livelihoods and boosting consumption, making a positive contribution to a good start to the "15th Five-Year Plan."

15:51:21

[Official Interpretation of the "Notice on Strengthening Business and Financial Collaboration to Boost Consumption" by the Head of the Finance Department of the Ministry of Commerce] The "Notice" proposes 11 policy measures in three aspects. First, it deepens collaboration between the commerce and financial systems. It promotes communication and cooperation among relevant local departments, encourages qualified localities to improve communication and cooperation mechanisms, strengthen the synergy of fiscal funds, credit funds, and social capital, refine specific implementation rules, and jointly implement a comprehensive policy package. Second, it increases financial support for key consumption areas. It encourages financial institutions to optimize financial products and services around five key areas: upgrading commodity consumption, expanding service consumption, cultivating new types of consumption, innovating diversified consumption scenarios, and assisting in consumption support. This includes strengthening the connection between supply and demand, improving the adaptability to commodity and service consumption, promoting the development of new consumption models according to local conditions, supporting the construction of new consumption formats, models, and scenarios, and implementing various financial support measures in detail. Third, it expands cooperation between government, finance, and enterprises. It encourages leveraging the combined efforts of government, finance, and enterprises to expand consumption, conduct multi-level, multi-channel, and diversified consumption promotion activities and information sharing, provide precise matching services, fully utilize relevant policy dividends, and better meet the needs of relevant business entities and consumers.

15:51:08

[Three Departments: Local Commerce Authorities to Establish Key Project Lists in the Consumption Sector Based on Specific Circumstances] The General Offices of the Ministry of Commerce, the People's Bank of China, and the State Financial Regulatory Commission jointly issued a notice on strengthening commerce and finance collaboration to further boost consumption. The notice mentions conducting information sharing in various forms. Local commerce authorities, based on their specific circumstances, should establish lists of key projects in the consumption sector, strengthen information sharing with financial institutions through platforms or mechanisms such as credit market service platforms, and facilitate precise matching services from financial institutions. The notice also calls for improving the trade-in service platform for consumer goods and expanding the participation of financial institutions. Furthermore, it emphasizes accelerating credit building in the consumption sector and promoting credit lending. Local commerce authorities, relying on the coordination mechanism for supporting financing for micro and small enterprises, should actively promote the sharing of information on commercial micro and small enterprises with financial institutions through local financing credit service platforms to facilitate precise and direct financing. Finally, it calls for strengthening the monitoring and analysis of financing in the consumption sector and enhancing information sharing among departments.

15:50:58

[Three Departments: Encourage Financial Institutions to Actively Participate in Consumption Promotion Activities Organized by Local Commerce Authorities] The General Offices of the Ministry of Commerce, the People's Bank of China, and the State Financial Regulatory Commission jointly issued a notice on strengthening commerce and finance collaboration to further boost consumption. The notice mentions joint efforts to promote consumption. It encourages financial institutions to actively participate in a series of consumption promotion activities organized by local commerce authorities, launching specialized programs, exclusive products, and special events to reach more businesses and consumers and expand the coverage of financial services. It also encourages financial institutions to customize and upgrade digital RMB smart contract red envelope service solutions based on the differentiated consumption promotion policies and scenario needs of various regions, better meeting the requirements for efficient turnover, precise targeting, and targeted policy implementation of subsidy funds. Furthermore, it encourages merchants and platforms to issue consumer vouchers and offer more low-interest and interest-free installment options. Finally, it guides financial institutions to deepen cooperation with merchants and platforms to jointly develop financial products and services adapted to the characteristics of the consumer industry, accurately acquire customers, and flexibly promote sales, forming a joint force of "government + financial institutions + merchants" to expand consumption.

15:50:06

[Notice from the General Offices of the Ministry of Commerce, the People's Bank of China, and the State Financial Regulatory Commission on Strengthening Business and Financial Coordination to Boost Consumption] It mentions: Expanding service consumption. Improving the "1+N" policy measures system and increasing policy support for service consumption. Combining the development trends and characteristics of key service consumption sectors such as housekeeping, accommodation and catering, culture and sports entertainment, education, tourism, and elderly care and childcare, innovating financial products and services, and embedding them more deeply into consumption scenarios and the consumption ecosystem. Making full use of service consumption and elderly care re-lending, incentivizing and guiding financial institutions to strengthen their services under the premise of independent decision-making, and actively issuing loans to operators in the service consumption and elderly care sectors; establishing and improving a mechanism for promoting key enterprises, projects, and activities, and proactively recommending them to financial institutions. Expanding intangible asset pledge financing services such as intellectual property rights and scientific and technological achievements, enriching financial products suitable for micro and small enterprises, developing insurance products such as commercial annuities, commercial health insurance, and accident insurance, improving the adaptability of finance to service consumption, and promoting the optimization of service supply.

15:48:32

[Three Departments: Strengthening Consumer Finance Services for Durable Goods and Digital Products] The General Offices of the Ministry of Commerce, the People's Bank of China, and the State Financial Regulatory Commission jointly issued a notice on strengthening commerce and finance collaboration to further boost consumption. The notice emphasizes upgrading consumer goods consumption. It calls for strengthening consumer finance services for durable goods and digital products, tapping into the potential for consumption upgrades. It encourages cooperation between financial institutions and platforms and key merchants, expanding into supermarkets and stores, and improving product and service models such as installment payments, credit cards, mobile banking, and digital RMB to better meet consumers' needs for upgrading. It also calls for rationally determining loan disbursement ratios, terms, and interest rates based on customers' repayment ability and creditworthiness, implementing differentiated policies on personal consumer loan amounts, terms, and interest rates, and accelerating the development of personal consumer loan business. It also appropriately reduces or waives penalties for early loan repayments during the car trade-in process. Finally, it strengthens connections between financial institutions and key enterprises and platforms integrating domestic and foreign trade, providing domestic and international transaction matching services, improving cross-border supply chain financing models, supporting more enterprises in integrated domestic and foreign trade operations, expanding the scale of domestic trade insurance, and supporting more high-quality foreign trade products to enter the domestic market.

10:59:36

[Shanxi to Plan Eight Major Water Conservancy Projects for Next Year] It was learned on December 11 that the Shanxi Provincial Department of Water Resources recently issued the "2026 Key Water Conservancy Project Planning 'Winter Action' Plan" (hereinafter referred to as the "Plan"). The Plan proposes to scientifically plan water conservancy projects based on national major strategies and the province's transformation and development needs, taking into account water resource endowment and project functional positioning, forming a project echelon of "implementable in the near term, reserved in the medium term, and planned for the long term." It emphasizes strengthening feasibility studies and coordination of resource guarantees, focusing on planning eight major water conservancy projects: First, flood control and disaster reduction projects. Focusing on improving the basin's disaster prevention and mitigation capabilities, this includes promoting flood control reservoirs, small and medium-sized river management, and mountain torrent control, with a key plan for a number of projects that can commence in 2026. Second, water resource allocation projects. Guided by modern water network construction, this focuses on promoting a number of mature small reservoir projects at the city and county levels; and, adhering to the principle of "deserved and cost-controllable," optimizing and adjusting unstarted county-level water network projects to promote effective connection and integration of large and small water networks. Third, irrigation area construction and renovation projects. Aiming to add and restore 3 million mu of irrigated land, we will promote the construction of five major irrigation bases and two major irrigation areas, focusing on planning a number of new and renovated irrigation area projects with high efficiency, water conservation, and clearly defined water use indicators to improve the level of agricultural irrigation security. Fourth, rural water supply projects. We will promote the integration of urban and rural water supply and the large-scale construction of centralized water supply, prioritizing the planning of a number of county-level unified management and standardized operation and maintenance water supply projects; and promote the standardized construction of small-scale water supply projects according to local conditions. Fifth, water ecological protection and restoration projects. Focusing on the protection and management of the "seven rivers," "five lakes," and "nineteen springs," we will plan projects such as river and lake ecological restoration, the revival of the Mother River, and the construction of happy rivers and lakes to promote the continuous improvement of the water ecological environment. Sixth, soil and water conservation projects. Aiming to improve the province's soil and water conservation rate, we will promote ecological clean small watersheds, sloping farmland management, and silt-retention dam construction, and plan and apply for a number of comprehensive management projects at the county level. Seventh, digital twin water conservancy projects. Accelerate the digital and intelligent upgrading of water conservancy projects, promote the construction of digital twin projects for reservoirs, dikes, irrigation areas, and rural water supply, and improve the level of intelligent water conservancy. Eighth is the hydrological infrastructure construction project. Improve the "three lines of defense" for monitoring and forecasting water and rainfall conditions, and promote the construction of hydrological stations, patrol monitoring bases, emergency monitoring capabilities, water resources monitoring systems, and operational platforms. (According to Shanxi Daily)

08:47:59

[Peng Qinghua, Special Envoy of President Xi Jinping and Vice Chairman of the Standing Committee of the National People's Congress, Attends the "International Forum on the Year of Peace and Trust"] At the invitation of Turkmenistan, Peng Qinghua, Special Envoy of President Xi Jinping and Vice Chairman of the Standing Committee of the National People's Congress, visited Ashgabat from December 12 to 13 to attend the "International Forum on the Year of Peace and Trust." He conveyed President Xi Jinping's congratulatory letter to the Turkmen side, met with Turkmen National Assembly Speaker Gurmanova and leaders of major political parties, and participated in the China-Turkmenistan people-to-people dialogue. Peng Qinghua actively promoted the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the spirit of President Xi Jinping's congratulatory letter, stating that China is willing to work with Turkmenistan to fully implement the important consensus reached by the two countries' top leaders, strengthen strategic alignment and pragmatic cooperation in various fields, and jointly build a China-Turkmenistan community with a shared future. Turkmenistan thanked President Xi Jinping for sending a congratulatory letter to the forum and dispatching a special envoy, stating that this fully demonstrates China's high regard for Turkmenistan-China relations. He emphasized that China's participation is indispensable in major international occasions, and Turkmenistan is willing to take China's high-quality development as an opportunity to deepen mutually beneficial cooperation with China, jointly implement the four major global initiatives, and better benefit the people of both countries and safeguard world peace. (CCTV News)

08:47:40

[From Selling Machines to Selling Solutions: my country's Machinery Industry Achieves Remarkable Success] According to the China Machinery Industry Federation, during the 14th Five-Year Plan period, my country's machinery industry achieved remarkable progress in industrial scale, foreign trade, and innovation capabilities, laying a solid foundation for promoting new industrialization. In terms of industrial scale, during the 14th Five-Year Plan period, the average annual growth rate of the added value of my country's machinery industry was 7.1%, and the growth rate in the first three quarters of this year was 8.7%, both higher than the national average for industry and manufacturing during the same period. The number of enterprises above designated size increased from 92,000 to 137,000 by the end of October 2025. Furthermore, during the 14th Five-Year Plan period, the production and sales of new energy vehicles, electric construction machinery, and new energy agricultural machinery increased significantly. Enterprises are accelerating their transformation from single-product manufacturing to integrated "product + service" solutions. Looking ahead to the 15th Five-Year Plan period, my country's machinery industry will focus on enhancing the resilience and security of the industrial chain and supply chain, accelerating the cultivation and development of new quality productivity, and emphasizing the transformation towards intelligent, green, and integrated development of the machinery industry, forming a new development pattern of upgrading traditional industries, leading emerging industries, and laying out future industries. (CCTV News)

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