Group 1 - The National Office will hold a press conference to introduce the achievements of the civil affairs sector during the "14th Five-Year Plan" period [1] - The 11th World Free Trade Zone Organization Conference will take place in Haikou, Hainan, from October 10 to 12, with participation from industry leaders and experts from over 70 countries and regions [2] Group 2 - A total of 100.78 billion yuan worth of restricted shares will be unlocked today, with 1.3 million shares being released across four companies [3] - Among the companies, Fuchuang Precision, Haocen Software, and Shengquan Group have the highest unlock volumes and market values, with Fuchuang Precision alone accounting for 100.11 billion yuan [3] Group 3 - 137 companies have disclosed stock repurchase progress, with one company announcing a new repurchase plan exceeding 10 million yuan [4] - Baiyun Electric has the highest repurchase plan amount, proposing to repurchase up to 20 million yuan [4] Group 4 - 600 billion yuan of 14-day reverse repos will mature today, following the central bank's operation on September 26 [5] Group 5 - Upcoming data releases include the U.S. one-year inflation expectations for October and Canada's employment figures for September [6]

（原标题：爱发脾气，其实是孩子内心脆弱的表现） 我在跟很多父母朋友聊天时，常常听到最高频的一个困扰，就是孩子爱发脾气。 很多人都曾跟我吐槽过，随着孩子年龄一起增长的，除了个子，就是脾气。在这个问题上，可能你也会 有很多共鸣。 比如，你完全不明白，为什么在你眼里明明就是鸡毛蒜皮一样的小事，就会莫名地点燃孩子的敏感神 经？ 为什么孩子就是这么任性、不懂事、胡搅蛮缠？ 01. 有些孩子爱发脾气的表现是，动不动就暴跳如雷，有些孩子是哭天抢地、不达目的誓不罢休。 可能更让你难以接受的是，只要孩子一发起脾气来，就会对你、对别人态度恶劣、言辞尖刻，更严重点 的，还会拳打脚踢。 比如，逛商场的时候，孩子看上了某样玩具，或是想玩某个游艺设施，但可能因为这样那样的原因，你 并不想满足他的这些要求，他就不分场合地跟你纠缠、哭闹。 这个时候，周围投来各种异样的目光，让你脸上火辣辣的，恨不得马上把孩子的嘴巴给缝起来。 又比如，带着孩子一起参加朋友们的聚会，看见自己的孩子脾气又臭又硬，一言不合就朝你怒吼，和其 他孩子玩不到一会儿就闹矛盾，让你在一众朋友面前颜面扫地。 一个妈妈跟我说，她已经完全不知道该怎么跟7岁的女儿相处了，自己常常一句 ...

Core Insights - China's foreign exchange reserves reached $3.3222 trillion by the end of August 2025, marking an increase of $29.9 billion from the end of July, with a growth rate of 0.91% [1] - The People's Bank of China has increased its gold reserves for 11 consecutive months, reaching 7.406 million ounces (approximately 2306 tons) by the end of September [1][3] Foreign Exchange Reserves - The foreign exchange reserves have shown a consistent growth trend in 2025, with only one month (July) experiencing a decline of $25.2 billion [1] - The increase in reserves is attributed to macroeconomic data, monetary policy, and expectations from major economies, alongside a slight fluctuation in the dollar index [2][3] Gold Reserves - The continuous increase in gold reserves is seen as a strategic move to enhance the stability and risk management of foreign exchange reserves [3][5] - The rise in gold reserves supports the internationalization of the Renminbi, as gold reserves are a key indicator of a country's currency creditworthiness [4] Economic Context - The current global economic uncertainty highlights the strategic value of China's $3.3 trillion foreign exchange reserves as a buffer against external risks [3] - The ongoing adjustments in the global economic landscape and the international monetary system are prompting a shift from dollar-denominated assets to gold and other physical assets [4][5] Market Dynamics - The dollar index remained stable at 97.8 in September, with market expectations for Federal Reserve rate cuts already priced in, leading to a release of downward pressure on the dollar [2] - Global financial asset prices have generally risen, with the S&P 500 index increasing by 3.5% in September, indicating strong market conditions [2]

Core Insights - The upgrade of Zheng Qinwen from "Global Health Ambassador" to "Global Brand Ambassador" signals a strategic shift for the brand, emphasizing emotional connection over commercial partnership [1][2] - This change reflects Bawang Chaji's ambition to leverage Zheng's influence to transform its image from a "health tea representative" to a "symbol of Eastern culture going global" [2][6] Brand Strategy - The distinction between "Health Ambassador" and "Global Brand Ambassador" indicates a deeper commitment to brand culture and international expansion, moving beyond mere health advocacy [2] - Bawang Chaji's global strategy is underscored by the need for a recognizable figure to enhance its global identity amidst fierce competition in the Chinese tea market [2][6] Athlete's Profile - Zheng Qinwen, born in 2002, has achieved significant milestones, including ranking 4th in the world and winning a gold medal at the 2024 Paris Olympics, which enhances her international visibility [3][4] - Her public persona aligns well with Bawang Chaji's brand values of health, youth, and cultural depth, making her an ideal representative for the brand [3][4] Long-term Collaboration - The partnership between Bawang Chaji and Zheng Qinwen has been cultivated since 2024, establishing a strong brand association that enhances consumer recognition [4] - The collaboration is not merely based on her Olympic success but on the deeper alignment of values between the athlete and the brand [4] Global Expansion - Bawang Chaji has transitioned from a local brand in Yunnan to a global cultural symbol, with over 7,000 stores worldwide and more than 200 overseas locations [6] - The brand's unique approach combines Eastern aesthetics with modern commercial narratives, setting it apart from competitors [6] Cultural Integration - The partnership with Zheng Qinwen represents a fusion of brand and sports culture, aiming to convey a message of resilience and elegance that resonates globally [7][8] - This collaboration is seen as a long-term cultural strategy rather than a short-term marketing tactic, focusing on embedding Eastern tea culture into global lifestyles [8]

Core Insights - Chengdu ranks second in national cultural tourism consumption, attracting 28.6 million visitors and generating 29.35 billion yuan in total tourism expenditure during the "super golden week" [1][2] - The city experienced a 13.4% increase in consumption, significantly outpacing the 5.3% growth in visitor numbers, indicating a rise in both quantity and quality of tourism [1] Visitor Experience Transformation - The shift from "check-in" to "deep experience" is evident, with 14.16 million visitors to A-level tourist attractions, a year-on-year increase of 8.1% [2] - The proportion of out-of-town visitors reached 37.3%, with 10.68 million visitors, marking a 6.4% increase [2] - Average tourist spending was 1,025.3 yuan, up 7.7%, with total online and offline consumption reaching 76.75 billion yuan, an 11% growth [2] Innovation and Service Enhancement - Chengdu's tourism boom is attributed to proactive planning and targeted strategies, launching over 300 cultural tourism activities covering various aspects of travel [3] - Digital cultural innovation has emerged as a new driver, with events attracting significant attendance, such as the "Digital Cultural Innovation Golden Week" [3] - The integration of electronic consumption vouchers has stimulated offline spending, generating over 119 million yuan in additional revenue [3] Rural Tourism Activation - Rural tourism has become a growth area, with events like the "Village Sugar Conference" attracting visitors to the countryside [4] - Key monitored commercial streets saw a 5.0% increase in foot traffic and a 5.4% rise in revenue during the holiday [4] Cross-Industry Integration - Events like the Chengdu Rowing Open and concerts have enhanced consumer engagement, leading to increased spending in surrounding areas [4] - This model of "visiting a city for an event" has transformed tourism from mere check-ins to comprehensive consumption experiences [4] Long-term Growth Strategy - Chengdu's tourism growth is a result of long-term ecosystem cultivation, with a focus on leveraging cultural IPs and enhancing digital and rural tourism [7] - The city aims to maintain its appeal by promoting an open and inclusive atmosphere, ensuring that visitors feel a lasting connection to the city [7]

Core Insights - 2025 is a significant year for China's innovative drug industry, marked by multiple major BD transactions that have sparked a new bull market for innovative drugs [1] - The number of new drugs under research in China has risen to the second highest globally, indicating a shift from being a follower to a leader in the innovative drug sector [1] Industry Developments - The recent surge in BD transactions is expected to drive growth and opportunities within the innovative drug market in China [1] - The transition of China’s innovative drug industry towards a leadership position reflects its increasing capabilities and competitiveness on a global scale [1] Future Directions - Insights from industry leaders, such as Chris Shim from Veeva, will help explore the development opportunities and future directions for China's innovative drug sector [1]

Market Overview - On October 9, the A-share market opened strongly after the holiday, with all three major indices rising. The Shanghai Composite Index increased by 1.32% to close at 3933.97 points, marking the highest level since August 2015 [2] - The Shenzhen Component Index rose by 1.47% to 13725.56 points, and the ChiNext Index increased by 0.73% to 3261.82 points, both reaching new highs since February 2022 [2] Sector Performance - The non-ferrous metals sector has been the standout performer in the A-share market, with a year-to-date increase of 77.56%, outperforming hardware equipment (59.07%) and semiconductors (58.74%) [2] - On October 9, the non-ferrous metals, hardware equipment, and semiconductor stocks saw significant gains, with the non-ferrous metals sector rising by 6.67% [6] Notable Stocks - Key stocks in the non-ferrous metals sector, such as Western Superconducting (688122.SH), Northern Rare Earth (600111.SH), and Luoyang Molybdenum (603993.SH), hit the daily limit up [6] - Gold stocks also performed well, with companies like Shandong Gold (600547.SH) and Zhongjin Gold (600589.SH) reaching historical highs [6] Global Influences - International gold prices surged past $4000 per ounce, contributing to the rise in domestic gold prices, which reached 1160 yuan per gram [6] - The recent increase in prices for various non-ferrous metals, including copper, tin, cobalt, zinc, and aluminum, was noted during the holiday period [7] Future Outlook - Analysts predict a "shaking upward" trend for the market in October, with expectations of continued inflow of capital and a stable upward trajectory for indices [8] - The upcoming Fourth Plenary Session is anticipated to influence market sentiment positively, while the third-quarter earnings reports are expected to show a rebound in profitability across most sectors [8][9]

Core Viewpoint - The recent surge in gold stocks contrasts with a slight decline in international gold prices, indicating a potential shift in market dynamics where gold is increasingly viewed as a strategic asset rather than just a commodity [1][4][7]. Group 1: Market Dynamics - On October 9, several gold stocks, including Western Gold and Sichuan Gold, hit the daily limit, while gold ETFs also saw significant gains, reflecting a surge in market sentiment [1]. - Despite the rise in gold stocks, COMEX gold futures showed a slight decline, suggesting a divergence between stock performance and gold prices, raising questions about the sustainability of this trend [1][4]. - The shift in perception of gold from a commodity to a quasi-currency asset is driven by macroeconomic factors, including U.S. fiscal policies and the ongoing re-evaluation of dollar asset safety [4][5]. Group 2: Institutional Actions - China National Gold's recent share buyback, amounting to approximately 19.45 million yuan, is seen as a strong endorsement of the long-term value of the gold industry [2]. - The People's Bank of China has continued to increase its gold reserves, reaching 7.406 million ounces (approximately 2299 tons) as of September 2025, indicating a strategic commitment to gold accumulation [2]. Group 3: Future Outlook - Analysts suggest that the current high volatility in gold stocks may lead to a rapid withdrawal of funds if macroeconomic conditions stabilize, such as a slowdown in Federal Reserve rate cuts or easing geopolitical tensions [6][7]. - The long-term outlook for gold remains positive, supported by ongoing central bank purchases, geopolitical uncertainties, and a potential shift in the global monetary system [6][7]. - Investors are encouraged to reassess the value of gold in the context of its evolving role as a strategic asset amid a changing economic landscape [7].

Core Viewpoint - The article discusses the lasting impact of childhood trauma on individuals, highlighting various emotional responses and coping mechanisms that can develop as a result of such experiences [1][4]. Group 1: 4F Responses to Childhood Trauma - The article identifies four primary responses to childhood trauma, known as the "4F responses": Fight, Flight, Freeze, and Fawn [5][10]. - The "Fight" response manifests as aggressive behavior or defensiveness when feeling threatened [6]. - The "Flight" response involves avoiding conflict and seeking to escape from threatening situations [7]. - The "Freeze" response leads to a state of numbness and resignation, where individuals feel powerless to resist harm [8]. - The "Fawn" response is characterized by people-pleasing behaviors aimed at appeasing aggressors to avoid further harm [9]. Group 2: Long-term Effects of 4F Responses - The "Fight" response can evolve into narcissistic personality traits, where individuals blame others and exhibit arrogance [11]. - The "Flight" response may lead to obsessive-compulsive tendencies, marked by anxiety and a lack of self-confidence [12]. - The "Freeze" response can result in dissociative personality traits, causing difficulties in focusing and a fear of conflict [12]. - The "Fawn" response often develops into dependent personality traits, where individuals fear expressing their emotions and prioritize others' feelings over their own [12]. Group 3: Healing Methods - The article suggests three therapeutic approaches to address these ingrained patterns: cognitive healing, emotional healing, and physical healing [14][28]. - Cognitive healing involves recognizing the origins of excessive reactions and avoiding self-blame for past traumas [15][16]. - Emotional healing emphasizes the importance of expressing emotions rather than suppressing them, as unexpressed feelings can resurface in harmful ways [22][23]. - Physical healing includes practices like dynamic meditation and stretching to alleviate physical tension caused by emotional trauma [25][27].

Core Insights - The article highlights the cultural significance and modern adaptations of "Nang," a traditional bread in Xinjiang, showcasing its evolution from a staple food to a symbol of local identity and creativity [1][3][5]. Group 1: Traditional Craftsmanship - The process of making Nang involves skilled techniques, where the dough is shaped and prepared with care, reflecting a blend of tradition and artistry [1][2]. - Master craftsmen like Maimaityimin Yusan have established themselves in the Nang industry, demonstrating the potential for entrepreneurship within this traditional craft [2][3]. Group 2: Cultural Significance - Nang serves as a vital part of daily life in Xinjiang, being consumed at all meals and representing a connection to the region's heritage [4][5]. - The variety of Nang types across different regions and ethnic groups illustrates its adaptability and importance in local culture [5][6]. Group 3: Modern Innovations - New flavors and forms of Nang, such as chocolate and durian variants, indicate a trend towards innovation while maintaining traditional roots [5][6]. - The emergence of unique experiences, like coffee served in Nang cups, showcases how traditional foods can be reimagined for contemporary consumers [5][6].