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2025-12-14 Sunday

2025-12-20

2025-12-13 Saturday

19:15:54

[Multiple Measures to Promote Steady Progress and Improved Efficiency in my country's Economy Next Year] According to the National Development and Reform Commission, macroeconomic regulation will be proactive next year, with strengthened expectation management and a series of new measures to promote steady progress and improved efficiency in the economy. Regarding consumption, the "two new" policies will be optimized and implemented, actively expanding service consumption and promoting the upgrading of the supply of life services such as elderly care, childcare, and domestic services. Regarding investment, the role of various government investment funds, such as those for major construction projects, will be fully utilized, the scale of central budgetary investment will be appropriately increased, and investment efficiency will be continuously improved; several measures to promote private investment will be implemented in depth to effectively stimulate private investment vitality. In developing new growth drivers, emerging and future industries will be vigorously cultivated and strengthened, the "artificial intelligence+" action will be deepened and expanded, the shortcomings of the science and technology service industry will be addressed, and the low-altitude economy industrial ecosystem will be improved. Looking ahead to the next five years, the "15th Five-Year Plan" will be formulated and implemented with high quality, and a number of major engineering projects will be planned and implemented to ensure a good start to the "15th Five-Year Plan." (CCTV News)

17:21:54

[Chinese People's Association for Friendship with Foreign Countries President Yang Wanming Visits Sri Lanka] From December 11 to 13, Yang Wanming, President of the Chinese People's Association for Friendship with Foreign Countries, led a delegation to Sri Lanka at the invitation of the Sri Lankan government. He met separately with Ratnayake, member of the Political Bureau of the People's Liberation Front, Chairman of the Sri Lankan Parliament's China Friendship Group, and Minister of Transport, Roads and Urban Development; Herat, Minister of Foreign Affairs, Foreign Employment and Tourism; Gamag, Minister of Youth Affairs and Sports; and Bartaza, Mayor of Colombo. He also held a collective discussion with Abeysekera, President of the Sri Lanka-China Social and Cultural Cooperation Association, and other leaders of Sri Lankan friendship organizations regarding deepening people-to-people exchanges between China and Sri Lanka. The Chinese People's Association for Friendship with Foreign Countries expressed its willingness to provide assistance to these organizations to the best of its ability, supporting Sri Lanka's flood relief and reconstruction efforts. All parties expressed their commitment to jointly implementing the important consensus reached by President Xi Jinping and President Disanayake, promoting people-to-people, local, cultural, and youth exchanges between China and Sri Lanka, and continuously advancing the strategic cooperative partnership of sincere mutual assistance and lasting friendship between the two countries. (Xinhua)

14:51:00

[Ministry of Finance: Develop New Productive Forces According to Local Conditions, and Deepen the Construction of a Unified National Market] On December 12, Lan Fo'an, Secretary of the Party Group and Minister of the Ministry of Finance, chaired a Party Group meeting to convey and study the spirit of the Central Economic Work Conference and to study the implementation work of the finance department. The meeting pointed out that to do a good job in fiscal work next year, it is necessary to take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as guidance, thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and its subsequent plenary sessions, fully and accurately implement the new development concept, accelerate the construction of a new development pattern, focus on promoting high-quality development, adhere to the general principle of seeking progress while maintaining stability, better coordinate domestic economic work and international economic and trade struggles, better coordinate development and security, continue to implement a more proactive fiscal policy, support the continuous expansion of domestic demand and optimization of supply, optimize incremental growth and revitalize existing assets, develop new productive forces according to local conditions, deepen the construction of a unified national market, continuously prevent and resolve risks in key areas, focus on stabilizing employment, enterprises, markets, and expectations, promote the effective improvement of economic quality and reasonable growth in quantity, promote social harmony and stability, and achieve a good start to the "15th Five-Year Plan".

14:50:49

[Ministry of Finance: Increase Counter-cyclical and Cross-cyclical Adjustments to Enhance Macroeconomic Governance Effectiveness] On December 12, Lan Fo'an, Secretary of the Party Group and Minister of Finance, chaired a Party Group meeting to convey and study the spirit of the Central Economic Work Conference and to study the implementation work of the finance department. The meeting pointed out that, in accordance with the arrangements of the Central Economic Work Conference, next year's policy orientation should adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, leveraging the integrated effect of existing and new policies, increasing counter-cyclical and cross-cyclical adjustments, and enhancing macroeconomic governance effectiveness. The finance department should accurately grasp the overall requirements and policy orientation of next year's economic work, maintain the necessary fiscal deficit, total debt scale, and total expenditure, and improve the precision and effectiveness of policies. It should make full use of various types of government bond funds, issue ultra-long-term special treasury bonds, and continue to support the construction of "two major projects" and "two new initiatives." It should support the optimization of the implementation of "two new" policies, make good use of the "double interest subsidy" policy for personal consumer loans and loans to service industry operators, and vigorously support the implementation of special actions to boost consumption. The scale of central government budgetary investment will be appropriately increased, the implementation of key projects will be optimized, and the management of local government special bonds will be improved to better leverage the driving effect of government investment and promote the stabilization of investment. Scientific fiscal management will be strengthened, the structure of fiscal expenditures will be optimized, and tax incentives and fiscal subsidies will be standardized. Coordination between fiscal and financial policies will be strengthened to ensure they work in the same direction and form a synergy. Addressing local fiscal difficulties will be prioritized, and the bottom line of basic public services at the grassroots level will be firmly secured. Local government debt risks will be actively and orderly resolved, and local governments will be urged to proactively reduce debt, while strictly prohibiting the creation of new hidden debt in violation of regulations. Financial discipline will be strictly enforced, and Party and government organs must adhere to austerity measures. A sound expectation management mechanism will be established to boost social confidence. Planning and implementation of next year's fiscal work should be carried out early and in detail to further improve the effectiveness of fiscal macro-control and effectively promote the sustained and healthy development of the economy and society.

13:30:57

[US Treasury Yield Curve Steepens, Tug-of-War Between Inflation and Growth Escalates] ⑴ The yield on the 10-year US Treasury note rose 5.1 basis points to 4.192% on Friday, rebounding after two consecutive days of decline. The yield gained more than 5 basis points this week and is poised for its second consecutive week of increases. ⑵ The 2-year yield, closely linked to interest rate expectations, fell slightly by 0.6 basis points to 3.524%, a drop of about 4 basis points this week, diverging from the longer-term trend. ⑶ This change widened the spread between the 2-year and 10-year yields to approximately 66.8 basis points, the widest level since April 9th. The curve exhibits a typical "bear steepening" pattern, where long-term interest rates rise faster than short-term rates. ⑷ Market analysts believe the "bear steepening" reflects investors' repricing of next year's economic growth prospects and expectations of continued inflation. Many expect large-scale tax cuts and spending bills to boost the economy next year. (5) The 30-year Treasury yield jumped 6.9 basis points to 4.859%, rising nearly 6.7 basis points this week, and is on track for its second consecutive week of gains, indicating significant selling pressure on long-term bonds. (6) Concerns about inflation within the Federal Reserve are a key factor influencing the market. Officials who voted against rate cuts emphasized that inflation remains too high, and the government shutdown has resulted in a lack of key data, increasing policy uncertainty. (7) Regarding inflation expectations, the break-even yield on 5-year Treasury Inflation-Protected Securities (TIPS) closed at 2.325%, while the 10-year yield was 2.275%, indicating that the market believes the long-term average annual inflation rate will be around 2.3%, still higher than the Fed's target.

12:27:16

[China Economic Annual Conference: Expanding Green Electricity Applications and Accelerating the Construction of a New Energy System Next Year] Today (the 13th), at the 2025-2026 China Economic Annual Conference held at the China Center for International Economic Exchanges, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group, stated that next year will be the first year of the comprehensive shift from dual control of energy consumption to dual control of carbon emissions. He emphasized the need to adhere to the "dual carbon" approach and promote a comprehensive green transformation. Han Wenxiu stated that green development is the foundation of high-quality development. He called for the formulation of a planning outline for building a strong energy nation, accelerating the construction of a new energy system, strengthening the clean and efficient utilization of fossil energy, and expanding the application of green electricity. Next year will be the first year of the comprehensive shift from dual control of energy consumption to dual control of carbon emissions. He stressed the need to actively and steadily promote carbon peaking, deepen energy-saving and carbon-reduction transformation in key industries, strengthen the construction of the national carbon emission trading market, cultivate new growth points such as hydrogen energy and green fuels, and build a number of zero-carbon industrial parks and zero-carbon factories. (CCTV News)

12:13:18

[China Economic Annual Conference: Major Economic Indicators Perform Better Than Expected] Today (August 13), at the 2025-2026 China Economic Annual Conference held by the China Center for International Economic Exchanges, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that this year is a significant and extraordinary year in China's modernization process. The main expected targets for economic and social development throughout the year will be successfully achieved, and the 14th Five-Year Plan will soon conclude successfully. Han Wenxiu introduced that over the past year, my country's economy has forged ahead despite pressure, developing towards new and superior directions, demonstrating strong resilience and vitality. Major economic indicators have performed better than expected. Many institutions predict that the annual economic growth will be around 5%, and my country remains the largest engine of global economic growth. The employment situation is generally stable, foreign trade has grown rapidly, export diversification has yielded significant results, and the construction of a modern industrial system has accelerated. New quality productivity has developed steadily, and research and application in artificial intelligence, biomedicine, and robotics are among the world's leading ranks. New steps have been taken in reform and opening up. The construction of a unified national market is being advanced in depth, and involutionary competition is being comprehensively rectified. Positive changes are emerging in the supply and demand relationship and price trends in industries such as photovoltaics. Capital market trading is active, domestic and foreign investor confidence is strengthened, and independent opening-up is progressing in an orderly manner. A safe, stable, confident, and inclusive image of China is being presented to the world. (CCTV News)

12:12:20

[China Economic Annual Conference: 2026 Requires Promoting Synergistic Growth in Residents' Income and Economy] Today (the 13th), at the 2025-2026 China Economic Annual Conference held by the China Center for International Economic Exchanges, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that next year, efforts will be made to maintain stable economic growth, overall employment and prices, and a basic balance of international payments, while promoting synchronized growth in residents' income and economy. Han Wenxiu explained that to ensure the success of next year's economic work, it is essential to adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, increasing counter-cyclical and cross-cyclical adjustments, and effectively enhancing the efficiency of macroeconomic governance. A more proactive fiscal policy will continue to be implemented. The necessary fiscal deficit, total debt, and total expenditure will be maintained, focusing on both the present and the future, making full use of policy space while also leaving room for future risks. A moderately loose monetary policy will continue to be implemented. Efforts will be made to smooth the transmission mechanism of monetary policy, strengthen support for expanding domestic demand, and maintain the basic stability of the RMB exchange rate at a reasonable and balanced level. To enhance the consistency and effectiveness of macroeconomic policy orientation, we must strengthen the coordination between fiscal and monetary policies, and between reform measures and macroeconomic policies, ensuring that all policies and measures work in the same direction to form a synergy. (CCTV News)

12:11:30

[China Economic Annual Conference: Expansion of Three Major International Science and Technology Innovation Centers Accelerates Formation as Major Sources of Original Innovation] Today (the 13th), at the 2025-2026 China Economic Annual Conference held at the China Center for International Economic Exchanges, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that next year's economic work will adhere to innovation-driven development and accelerate the cultivation and expansion of new growth drivers. Han Wenxiu stated that it is necessary to persist in using scientific and technological innovation to lead industrial upgrading and continuously generate new quality productivity. Since the 18th National Congress of the Communist Party of China, the Party Central Committee has successively deployed the construction of three major international science and technology innovation centers in Beijing, Shanghai, and the Guangdong-Hong Kong-Macao Greater Bay Area, which have made significant progress in recent years. The Party Central Committee has decided to expand the Beijing International Science and Technology Innovation Center to the Beijing-Tianjin-Hebei region and the Shanghai International Science and Technology Innovation Center to the Yangtze River Delta region, with the aim of accelerating the formation of major sources of original innovation in my country and jointly building strategic pillars for building a strong science and technology nation. (CCTV News)

12:11:11

[China Economic Annual Conference: Optimizing the Implementation of "Two New" Policies to Give Local Governments More Autonomy] Today (13th), at the 2025-2026 China Economic Annual Conference held by the China Center for International Economic Exchanges, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that the implementation of "two new" policies should be optimized to give local governments more autonomy. Han Wenxiu introduced that since the beginning of this year, the "trade-in" policy for consumer goods has driven rapid growth in sales of related products. The market penetration rate of new energy vehicles approached 60% in November. Consumption in sports events, cultural tourism, and other sectors is booming. The next step is to further implement special actions to boost consumption, formulate and implement plans to increase the income of urban and rural residents, and continue to increase the basic pension for urban and rural residents. New demand should guide new supply, and new supply should create new demand. Adapting to changes in consumption structure, expanding the supply of high-quality goods and services, optimizing the implementation of "two new" policies, giving local governments more autonomy, and eliminating unreasonable restrictions in the consumption sector will unleash the potential of service consumption. There is still significant room for growth in inbound consumption in my country. The environment for inbound consumption should be optimized, and the "Buy in China" brand should be built. (CCTV News)

09:26:04

[Shanxi Provincial Party Secretary Tang Dengjie: Focusing on Green and Low-Carbon Energy Transformation and High-Quality Development of Manufacturing, Promoting Deep Integration of Technological Innovation and Industrial Innovation, and Developing New Productive Forces According to Local Conditions] Tang Dengjie, Secretary of the Shanxi Provincial Party Committee, stated that building a national comprehensive reform pilot zone for resource-based economic transformation is a strategic task entrusted to Shanxi by the Party Central Committee. Shanxi must closely adhere to the Party Central Committee's strategic positioning of Shanxi, shoulder this major mission, and resolutely and orderly promote transformation and development. Focusing on green and low-carbon energy transformation and high-quality development of manufacturing, Shanxi will promote the deep integration of technological innovation and industrial innovation, and develop new productive forces according to local conditions. Adhering to the "dual-carbon" guidance, Shanxi will synergistically promote carbon reduction, pollution reduction, greening, and growth, ensuring the comprehensive effectiveness and consolidation of the "A Clear Stream Flows into the Yellow River" ecological protection project, and accelerating the comprehensive green transformation of economic and social development. Furthermore, Shanxi will promote the protection and inheritance of cultural heritage and the deep integration of culture and tourism, allowing Shanxi culture to radiate new contemporary brilliance through inheritance and innovation. (Xinhua News Agency)

08:02:45

[Chip Shortage Impacts Consumers, Dell Fires First Shot in Enterprise PC Price Hike] ⑴ Dell reportedly will raise prices across its entire commercial product line starting next week (December 17th). This price adjustment primarily targets enterprise customers, not general consumers. ⑵ A Dell spokesperson confirmed the price adjustment, stating that like other companies in the industry, Dell will implement targeted price adjustments when necessary, while ensuring uninterrupted supply chains and continuing to provide value to customers. ⑶ The core driver of the price increase is the industry-wide shortage of memory and storage chips, which has driven up overall costs in the personal computer industry. Competitors such as Lenovo and HP are also facing cost pressures. ⑷ The surge in demand for artificial intelligence infrastructure is a significant reason for the exacerbated chip shortage. Major technology companies are purchasing large quantities of memory and storage chips to deploy AI, thus crowding out chip supplies for consumer devices. ⑸ The specific price increase will vary depending on customer contracts and the memory and storage specifications selected for laptops. A Dell sales employee revealed that the increase is "between 10% and 30%." (6) A Dell spokesperson added that its supply chain is resilient and globally positioned to ensure sufficient flexibility in the face of changes in the macroeconomic, regulatory, and trade environment. This price increase is a clear signal that industry cost pressures are being passed on to end users.

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