🌹December 9th News Highlights
1. The Central Political Bureau held a meeting on December 8th to analyze and study the economic work for 2026. Regarding the tone of macroeconomic policy, the meeting stated that next year's economic work should adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, continue to implement a more proactive fiscal policy and a moderately loose monetary policy, leverage the integrated effects of stock and increment policies, increase counter-cyclical and cross-cyclical adjustment efforts, and effectively enhance the effectiveness of macroeconomic governance.
2. On December 3rd, a symposium for non-Party members was held to hear the opinions and suggestions of leaders from various democratic parties, the All-China Federation of Industry and Commerce, and representatives of non-Partisan individuals regarding this year's economic situation and next year's economic work. Xi hosted the symposium and delivered an important speech emphasizing that the supporting conditions and basic trends for China's long-term economic growth have not changed. We must strengthen our confidence, leverage our advantages, address challenges, and continuously consolidate and expand the stable and positive momentum of the economy to achieve a good start for the 14th Five-Year Plan.
3. Foreign Ministry spokesperson Guo Jia Kun stated yesterday that Japanese fighter jets intruded into Chinese training areas without authorization, interfering with Chinese military activities through close reconnaissance, and then made unfounded accusations, hyping the so-called 'radar illumination' issue, reversing black and white, framing others, and misleading the international community. China expresses strong dissatisfaction and resolute opposition to this, and has made solemn representations and strong protests to the Japanese side.
4. Ling Ji, Vice Minister of Commerce and Deputy Representative for International Trade Negotiations, held video talks with Müller, Chairman of the German Association of the Automotive Industry, and the Chairman of Daimler AG, Kon Lin Song. Both sides exchanged views on cooperation in the automotive industry and supply chain between China and Germany and between China and Europe. Ling Ji expressed hope that the German and European automotive industry associations would continue to exert their influence to promote the European Commission and China to move toward each other and quickly resolve the electric vehicle anti-subsidy case.
5. Wu Qing, chairman of the Securities Regulatory Commission, recently stated that it is necessary to 'moderately open up capital space and leverage limits' for high-quality securities institutions, which has sparked heated discussions in the market. Regulatory sources indicate that appropriately 'loosening' high-quality institutions is one of the ways to strengthen classified supervision and support the good while limiting the bad. The overall leverage range of the securities industry will remain within a reasonable range, and there will be a firm commitment not to engage in rapid expansion.
6. According to the National Development and Reform Commission, starting from 24:00 on December 8, the retail price limit for gasoline and diesel will be reduced by 55 yuan per ton, equivalent to a reduction of 0.04, 0.05, and 0.05 yuan per liter for 92# gasoline, 95# gasoline, and 0# diesel respectively. After this reduction is implemented, taking a small private car with a fuel tank capacity of 50 liters as an example, filling a tank of 92# gasoline will cost about 2 yuan less.
7. OpenAI states that artificial intelligence is increasingly prevalent in various fields, but we see particularly strong momentum in the following areas: technology, healthcare, and manufacturing are the fastest-growing industries.
8. China Shipbuilding Group and China Ocean Shipping Group completed the cooperation signing for a new shipbuilding project in Shanghai, with a total amount exceeding 50 billion yuan. This is the highest amount for a single domestic cooperation contract signed by Chinese shipbuilding companies.
9. In response to the pain points of the new energy vehicle industry, the State Administration for Market Regulation has organized the construction of a risk prevention and control technical system for 'dual loss of control' in new energy vehicles, which helps accurately identify the causes of accidents and establish deep investigation techniques and standards for fire accidents and sudden loss of control incidents.
10. The three major U.S. stock indices closed lower, with the Dow down 0.45%, the Nasdaq down 0.14%, and the S&P 500 down 0.35%. The Nasdaq Golden Dragon Index rose 0.08%, with popular Chinese concept stocks showing mixed results.
