Core Insights - Pfizer has announced a strategic acquisition of Metsera for up to $7.3 billion, aiming to strengthen its position in the weight loss drug market after halting the development of its oral GLP-1 drug, Danuglipron [2][4][5] - The acquisition allows Pfizer to gain a comprehensive pipeline that includes long-acting injectable GLP-1, amylin analogs, and oral GLP-1 therapies, transitioning from a position of deficiency to a full-spectrum presence in the market [3][4] - Metsera's value lies in its differentiated product pipeline and technology platforms, particularly the HALO and MOMENTUM platforms, which enhance drug delivery and efficacy [4][5] Company Strategy - The acquisition is seen as a necessary strategic move for Pfizer, especially after setbacks in its own drug development, to quickly re-enter the competitive weight loss market [4][5] - Pfizer had previously indicated plans to complete two to three transactions by 2025 with a budget of $15 billion, highlighting the urgency to bolster its portfolio [4][5] - The HALO platform allows for extended half-life of drugs, enabling monthly dosing, while the MOMENTUM platform focuses on optimizing oral delivery of peptides [5][11] Market Dynamics - The global weight loss drug market is shifting from a duopoly dominated by Novo Nordisk and Eli Lilly to a more competitive landscape with multiple players entering the field [7][10] - Analysts predict that the market for oral GLP-1 drugs could capture 24% of the weight loss drug market by 2030, indicating significant growth potential [11] - The Chinese weight loss drug market is expected to reach $14.9 billion by 2030, driven by rising obesity rates and increasing clinical demand [12][13] Competitive Landscape - Pfizer's entry into the market is expected to challenge the existing dominance of Novo Nordisk and Eli Lilly, particularly if Metsera's combination therapies prove effective [11][15] - The competition is evolving beyond mere efficacy to include factors such as dosing convenience, combination therapies, and patient tolerability [11][14] - The emergence of new technologies, such as long-acting formulations and multi-target drugs, is reshaping the competitive dynamics in the weight loss drug sector [10][14]

Group 1 - Vietnam government has announced the launch and completion of 250 large-scale infrastructure projects with a total investment of 1,280 trillion VND (approximately 50 billion USD) [1] - The infrastructure investment is seen as a key driver for Vietnam's economic growth and modernization over the next 10 to 20 years [1][4] - The public investment expenditure in Vietnam surged by 40% year-on-year in the first half of the year, reaching 268.1 trillion VND (approximately 10.3 billion USD) [6] Group 2 - Vietnam's road quality ranks 109th globally, indicating significant infrastructure challenges, particularly in major cities like Ho Chi Minh and Hanoi [2] - The railway system is largely outdated, with most tracks dating back to the French colonial era, limiting capacity and speed [2] - Power supply issues have led to nationwide blackouts, affecting major companies and prompting the government to seek electricity imports [3] Group 3 - Vietnam is focusing on improving infrastructure to address challenges such as increased tariffs from the US and to meet its GDP growth target of 8.3%-8.5% for the year [6] - The government is funding 129 of the 250 projects, while 121 projects are supported by private and foreign capital, highlighting a reliance on external investment [7] - The participation of Chinese companies in Vietnam's infrastructure projects is increasing, with examples including the construction of metro lines and highways [10][11] Group 4 - The Vietnamese government aims to alleviate financial pressure through Public-Private Partnerships (PPP), but attracting private investment remains a challenge [7][8] - Experts suggest that Chinese companies should form strategic alliances to avoid internal competition in the crowded Vietnamese market [11] - There is a shift in Chinese companies' approach to overseas infrastructure projects, focusing on smaller, manageable projects to mitigate risks [11][12]

南方财经 21世纪经济报道记者吴斌 上周初，10年期美债收益率一度跌破4%关口，但在美联储降息后，9月22日，10年期美债收益率却不降反升，处在4.14%上方， 30年期美债收益率在4.75%上方。 美股则继续创新高，市场罕见上演创纪录四重奏，标普500指数、纳斯达克100指数、道琼斯工业平均指数以及罗素2000指数齐 创纪录，本世纪这样的情景只出现过不到30次。 在股市高歌猛进之际，美债收益率为何出现"异常"上涨？"债券义警"释放了什么信号？接下来市场又将迈向何方？ 长债收益率缘何不跌反涨？ 在美联储降息后，美国长债收益率却不跌反涨。尽管美联储自2024年以来多次降息，但10年期美债收益率与去年同期相比几乎 没有变化。 源达信息证券研究所所长吴起涤对21世纪经济报道记者表示，美联储降息后美国10年期国债收益率不跌反涨，这是一个典型 的"预期兑现"的交易，这是"买预期，卖事实"的市场行为。 在吴起涤看来，预期先行，降息已被"定价"。市场是交易预期的，之前就已经普遍预期美联储降息25个基点，投资者提前买入 债券，债券价格上涨，收益率拉低。当降息真正发生时，部分投资者选择获利了结，卖出债券，导致收益率反弹。 对通 ...

Core Viewpoint - The event "Yue Fresh, Yu Good, Chongqing and Guangdong Share" showcases the collaboration between Guangdong's seafood industry and Chongqing's hot pot culture, aiming to enhance consumer experience through the fusion of fresh seafood and spicy flavors [1][5]. Group 1: Industry Strength and Collaboration - Guangdong has established itself as a leader in modern marine ranching, with the highest number of gravity-type deep-water cages in China and nearly half of the national marine fish farming output expected in 2024 [2]. - The production of golden pomfret in Zhanjiang accounts for one-third of the national output, while the production of white grouper exceeds 60% of the total national output [2]. - The collaboration aims to leverage Guangdong's seafood supply and Chongqing's hot pot market, enhancing the supply chain and expanding market reach [5][6]. Group 2: Consumer Experience and Product Innovation - The event featured a unique tasting experience that combined Guangdong's fresh seafood with Chongqing's spicy hot pot, allowing consumers to enjoy a dual flavor experience [3]. - Innovative product handling techniques were introduced, such as the preparation of golden pomfret to meet the fast-cooking demands of hot pot consumers [2]. - The tasting event received positive feedback, breaking preconceived notions about Guangdong seafood being bland and highlighting its compatibility with spicy flavors [3][4]. Group 3: Market Trends and Future Outlook - The hot pot industry is projected to exceed a trillion yuan in annual consumption, with the freshness of ingredients being a critical factor influencing consumer choices [5]. - The collaboration is expected to increase the demand for Guangdong seafood in Chongqing, with current monthly demand for golden pomfret at over 100 tons [6]. - The fusion of fresh and spicy flavors is anticipated to meet the evolving consumer preferences for healthier and more diverse dining options [6].

Group 1 - The integration of digital technology and traditional culture is being actively pursued in Zhejiang, a cultural province in China, enhancing the cultural industry through technological advancements [3][4] - The "Cultural + Technology" initiative has led to the emergence of new cultural products, such as AI emotional companion robots and digital cultural experiences, which are becoming popular among consumers [5][9] - The establishment of the Wulin 921 Digital Cultural Industry Park represents a significant investment in the cultural sector, set to officially open on May 18, 2024, and aims to promote cultural and technological synergies [5][9] Group 2 - The Zhejiang Publishing Group is transforming its operations by adopting a "Publishing +" strategy, which integrates content creation with digital technology, enhancing efficiency and reducing costs in the publishing process [8][9] - The group has successfully published the 3A game "Black Myth: Wukong," showcasing its capability in the new cultural industry, which includes online literature, films, and games [8][9] - The establishment of a "Global AI Digital Product Trade Comprehensive Pilot Zone" at the Wulin 921 Park aims to facilitate the international dissemination of new cultural products [9] Group 3 - E-signature technology is becoming a crucial tool in the digital economy, with e-signature platform e签宝 expanding its services and achieving significant growth, including a doubling of revenue this year [10][11] - The introduction of an intelligent contract agent by e签宝 has streamlined contract management for businesses, reducing processing time by 60%-80% and achieving a high coverage rate of key clause reviews [10][11] - Traditional manufacturing sectors are also integrating AI technologies, as seen in the development of smart office solutions by companies like 圣奥科技, which enhance workplace ergonomics and productivity [11][12] Group 4 - The Hangzhou government has identified key future industry pilot zones, including two in the Xiaoshan District, aimed at fostering innovation and efficient transformation of industrial ecosystems [12]

（原标题："风王"将袭：广东20市地质灾害风险较高，海域狂涛或达13米） 其中，汕尾市陆河县、陆丰市，揭阳市揭西县、惠来县等2个市、4个县（市、区）地质灾害风险高。同 时，广东全省还有12个市，34个县（市、区）处于两轮台风强降雨叠加地质灾害重点区域，需加强关 注。 具体区域为：广州白云、花都、从化、黄埔、增城；深圳深汕、龙岗；佛山高明、顺德、三水；清远英 德、佛冈、清新、清城；河源紫金；梅州五华、丰顺、大埔；汕尾海丰、陆河、陆丰；阳江阳春、阳 东；江门恩平；潮州饶平、潮安；惠州博罗、龙门、惠东、惠阳；揭阳揭东、揭西、惠来、普宁。 广东省自然资源厅提醒，应加强关注上述山地丘陵区崩塌、滑坡、泥石流易发区的地质灾害防御工作， 尤其注意农村削坡建房、公路交通设施及景区等边坡地段、地质灾害在建治理工程点、沟谷等区域的地 质灾害防御工作。 9月22日上午，广东省自然资源厅召开全省防台风"桦加沙"视频调度会议。会议指出，当前第18号超强 台风"桦加沙"正逐步逼近广东，将给广东省带来狂风、暴雨、巨浪和风暴潮等灾害，可能引发山体滑 坡、泥石流等地质灾害，防御形势异常严峻复杂。 珠江口沿岸将出现100-320cm的风暴增水，其 ...

（原标题：The New Stage for New Energy Industry Going Global | SFC Markets and Finance） More than 600 delegates gathered to map out the next stage of energy industrial development and to explore how China's energy-storage technologies, standards and brands can take a bigger step onto the world stage. By Yang Yulai SFC, 21st Century Business Herald "Power Vision" New Energy Storage and New Power System Industry Ecology Conference was held on Sep 22nd in Guangzhou. ...

Core Viewpoint - The interview highlights the transformative impact of open-source AI models on the medical imaging market, emphasizing their role in enhancing efficiency and innovation across various industries [1]. Group 1: AI Technology Impact - Open-source AI models empower various industries by enabling companies to conduct secondary development tailored to specific industry needs [1]. - The integration of open-source models leads to targeted optimization and application innovation, significantly improving the efficiency and speed of AI technology adoption [1]. Group 2: Industry Growth - The establishment of an open-source ecosystem allows the entire industry to grow rapidly, fostering collaboration and innovation [1].

通气会上，中央气象台首席预报员王海平介绍，截至9月22日14时，"桦加沙"中心位于广东省阳江市东 偏南方向约1000公里的巴士海峡海面上，中心附近最大风力达17级以上（62米/秒），中心最低气压910 百帕，七级风圈半径340～480公里，十级风圈半径160～200公里，十二级风圈半径80～120公里。预计 台风将以每小时20公里左右的速度向偏西方向移动，穿过巴士海峡后，于9月23日凌晨进入南海东北部 海面，9月24日凌晨至下午在广东惠州到海南文昌一带沿海登陆，登陆强度可达强台风级或超强台风级 （14～16级），登陆后强度将逐渐减弱。 王海平指出，"桦加沙"目前强度已达超强台风级，未来两天强度将基本维持或略有波动，登陆前仍将保 持超强台风级或强台风级强度。研判显示，台风预计登陆范围介于广东惠州至海南文昌一带，其中最大 可能登陆地点为阳江附近沿海地区。 而从历史同期来看，秋季出现超强台风并非罕见。王海平介绍，2023年的"小犬"、2022年的"奥鹿"等都 达到了超强台风级。"桦加沙"的降水主要影响华南沿海地区，将带来极端强降水，对北方地区的远距离 降水影响目前来看并不明显。 （"桦加沙"未来96小时路径概率预报 ...

南方财经21世纪经济报道记者张伟泽 实习生王艺之 香港报道 9月19日，香港保险业监管局（保监局）行为监管部主管吴维权在记者会上宣布，面对2024年5月通函中 公布的部分保险经纪公司将超过90%的佣金支付予转介人的市场乱象，保监局将划定保险经纪机构向转 介方支付转介费的"红线"，即自2025年10月1日起，转介费将实行50%的基准水平。 吴维权强调，选择在10月1日这个时间节点上线，是因应"十一黄金周"内地游客赴港买保需求增加的考 量。 近年来，随着内地客户对香港保险产品需求的显著提升，违规无牌销售行为在跨境销售领域亦有所抬 头。香港保监会最新公布的数据显示，2024年，源自内地访客的新造保单保费录得628亿港元，相较于 2023年实现了6.5%的增长，并占个人业务总新造保单保费的28.6%。 据2024年香港保监局通函，在客户拓展过程中，保险经纪人通过第三方转介获取客户是常见的做法。然 而，面对内地访客业务日益激烈的市场竞争，部分保险经纪公司采取了扭曲的转介模式。其主要原因在 于这些经纪公司将超过90%的佣金作为转介费，从而诱使转介人在缺乏必要牌照的情况下，向客户进行 销售活动以招揽业务。 鉴于此，2024 ...