Core Viewpoint - Burberry launches its 2026 New Year collection, celebrating the Year of the Horse with a themed advertisement featuring brand ambassadors and a focus on family reunion and traditional values [1] Group 1: Advertising and Brand Representation - The advertisement showcases brand ambassadors Chen Kun, Tang Wei, Wu Lei, and brand ambassador Zhang Jingyi, who are depicted preparing for family gatherings and celebrating the New Year [1] - The imagery of horses is used as a narrative thread, symbolizing anticipation, return, and reunion during the festive season [1] Group 2: Product Design and Aesthetics - The New Year collection reinterprets Burberry's classic equestrian knight logo through watercolor and ink brush techniques, incorporating metal embroidery, cross-stitching, and badge appliqué on various products [1] - The collection features auspicious red tones and a specially launched red Burberry check pattern, blending the brand's classic aesthetics with the positive connotations of Chinese New Year [1]

Group 1 - Hainan Free Trade Port officially launched its customs closure operation on December 18, establishing the entire island as a special customs supervision area with a policy framework characterized by "one line" liberalization and "two lines" regulation [1] Group 2 - The Ministry of Commerce will hold a press conference on December 18 at 3 PM to introduce key recent work in the business sector and answer questions from reporters [2] - The Meteorological Bureau will hold a press conference on December 18 at 10:30 AM to discuss the "Earth System Forecast Development Strategy (2025-2035)" [3] Group 3 - On December 18, a total of 5 companies will have their restricted shares unlocked, with a total unlock volume of 129 million shares, amounting to a market value of 1.03 billion yuan [4] - 15 companies disclosed stock repurchase progress on December 18, with 6 companies announcing new repurchase plans, and the highest repurchase amounts being 2 billion yuan from China Metallurgical Group, 328 million yuan from Yanjinpuzi, and 200 million yuan from Yirui Technology [5] - 11 companies announced progress on private placements on December 18, with the highest fundraising amounts being 1.8 billion yuan from Shenzhen Urban Transport, 1.157 billion yuan from Shengxing Shares, and 40 million yuan from Hualing Cable [6] Group 4 - 12 A-shares will have their equity registration on December 18, with the largest dividends being 239.57 yuan per 10 shares from Kweichow Moutai, 3.00 yuan from Juhua Technology, and 2.00 yuan from Deguan New Materials [7] Group 5 - The U.S. November CPI and European interest rate decisions are set to be announced [8]

每个人都知道，要管住自己的情绪。 （原标题：情绪爆发时，这3件事的治愈力常常被低估了） 可是，很多时候，一旦你情绪上头，你根本就控制不住。发泄了情绪，事后又特别后悔，可当时就是没 办法冷静。 有些情绪是爆发式的，是特别需要急救的。 一 、改变场景 什么是改变场景？就是当你的情绪爆发时，应该立即离开现场，不要继续和那些人或事纠缠。 这么做的好处是，控制住局势，不让消极的情绪延伸。 具体说来，它起到两个作用： 第一个，切断敌对的情绪。 你愤怒、冲动的时候，情绪占了上风，你不会理性地思考问题。 你的所思所想，都是为情绪服务。 比如，你和另一半吵架，你为什么会越想越生气呢？因为你这个时候认知在为感性服务，源源不断地提 供你应该生气的证据。 以下3点，帮你从情绪的漩涡中抽离出来。 你会想："上一次，上上一次，就是你的问题，我忍了这么久，为什么还要我忍？"你自然会越想越生 气。 怎么办呢？离开现场，切断这种敌对情绪。 第二个，切断情绪的刺激源。 环境与情绪存在着深刻的联结，每个空间都承载着特定的情绪记忆和触发点。 情绪上头时，你很容易被当下的环境困住。 比如和伴侣吵架时，盯着对方的脸、看着熟悉的客厅，只会让你更生气；被领 ...

Group 1 - Wuhan is integrating various resources to host multiple cultural and tourism consumption activities to boost domestic demand and enhance the New Year consumption season [1] - The 2025 Wuhan Ice and Snow Season will be launched with the theme "Seeking Plum Blossoms in the Snow, Competing in Ice and Snow Passion," running from mid-December 2025 to late February 2026, covering major traditional festivals [1] - The ice and snow season aims to transform "cold resources" into "hot economy" and "warm vitality" for the city by linking seven ice rinks, four ski resorts, and key commercial areas [1] Group 2 - The "2025 Wuhan International Consumption Season and New Year Consumption Season" was launched on December 13, featuring over 300 unique activities across three major international consumption demonstration zones [2] - Major brands and platforms in Wuhan will offer various discounts during the event to stimulate consumption [2] - The winter fresh crayfish consumption season will be initiated through collaboration between Wuhan and Qianjiang, ensuring supply through a winter crayfish supply alliance [2] Group 3 - Wuhan's plan to create an international consumption center city is part of its broader strategy, with a goal to exceed 1.07 trillion yuan in social retail sales by 2027 [3] - The three-year action plan (2025-2027) emphasizes leading new supply with new demand and aims to establish Wuhan as a central hub for consumption in Central China, serving the nation and connecting globally [3]

Core Viewpoint - The article discusses the phenomenon of "involution" in various industries, highlighting the need for a shift towards rational competition rather than price wars and resource monopolization, which can lead to long-term inefficiencies and potential violations of antitrust laws [1][2]. Group 1: Involution and Its Consequences - Involution has become a common issue across industries such as photovoltaics, home appliances, automotive manufacturing, and internet services, where companies engage in price competition and subsidies, sacrificing long-term profits and innovation [1]. - The root cause of involution is an imbalance in competitive mechanisms, where companies prioritize short-term market share over sustainable practices, leading to excessive competition and resource waste [1][2]. Group 2: Industry Response and Risks - As the consensus against involution grows, some companies are forming price alliances and industry coordination under the guise of self-discipline, which poses risks of collusion and potential violations of antitrust laws [2][3]. - The silicon material storage incident illustrates the challenges faced by the photovoltaic industry, where overcapacity has led to significant price fluctuations and a crisis of losses, prompting major companies to adopt production cuts and self-regulatory strategies [2][3]. Group 3: Antitrust Concerns - The establishment of a silicon material storage platform by competing companies to manage overcapacity may inadvertently lead to price increases, raising concerns about potential violations of antitrust laws regarding horizontal agreements to limit production or sales [3][4]. - Regulatory bodies have noted the trend of companies using the pretext of anti-involution to engage in collusion, emphasizing that industry self-regulation should not lead to price-fixing or production limitation agreements [4][5]. Group 4: Compliance and Future Directions - Companies must be cautious of leading price alliances or production agreements under the banner of industry self-discipline, as this could expose them to legal repercussions [5][6]. - To genuinely escape the trap of involution, companies should focus on building a compliance culture that integrates antitrust considerations into their strategic and operational frameworks, shifting the competitive focus from price to service and value [6].

Core Insights - The launch of the Doubao phone by ByteDance and ZTE on December 1, 2025, emphasizes AI's capability to automate cross-application operations, with initial sales of 30,000 units selling out quickly and second-hand prices reaching up to 12,900 yuan [2] - The Doubao phone faced immediate challenges from major apps like WeChat and Alipay, which triggered security measures, indicating a potential threat to traditional internet giants as AI technology evolves [2][3] - The emergence of AI phones could disrupt the existing app ecosystem, leading to a future where apps may lose their fundamental purpose, transforming into databases or product libraries instead [3][5] Industry Impact - The introduction of AI phones signifies a potential shift in the competitive landscape among hardware manufacturers, with a new wave of competition expected as AI becomes deeply integrated into mobile technology [5] - The evolution of AI technology may lead to a redefinition of user interactions, where traditional app usage diminishes, and AI handles tasks directly, challenging the current business models of many service platforms [3][4] - The anticipated rise of AI phones could accelerate the transformation of hardware forms, potentially replacing traditional smartphones with new devices, necessitating adaptation from manufacturers to maintain relevance in the market [5]

Core Insights - The president of the China Advertising Association, Zhang Guohua, stated that the focus on Chinese enterprises going abroad has decreased, but their strategic importance remains irreplaceable [1][2] Group 1: Export Performance - In the first 11 months of this year, China's total goods trade export exceeded the entire export amount of 2024, contributing significantly to economic growth [1] - According to the General Administration of Customs, the total value of China's goods trade import and export reached 41.21 trillion yuan, a year-on-year increase of 3.6%. Exports were 24.46 trillion yuan, up 6.2%, while imports were 16.75 trillion yuan, up 0.2% [1] Group 2: Economic Growth and Challenges - Current predictions suggest that China's economic growth rate will remain around 5%. Without the 1.7 percentage points contribution from foreign trade, achieving the "5% target" would face severe challenges [2] - Despite the decline in market attention towards enterprises going abroad, the recognition and acceptance of Chinese products globally are continuously improving [2] Group 3: Challenges Faced by Chinese Enterprises - Chinese products are still perceived as low to mid-end in the international market, leading to insufficient pricing power and low profit margins for enterprises [2] - There is a need for Chinese enterprises to deeply understand cultural differences in target markets, as many still apply domestic marketing strategies that do not meet overseas market demands [2] - Companies must build a comprehensive localized ecosystem, collaborating with local partners to establish logistics networks, including key nodes like ports and distribution centers, to ensure efficient supply chain operations [2]

Core Insights - The article discusses the evolution of Xu Zhiyuan's thoughts and practices over the past 25 years, emphasizing the importance of time and context in shaping ideas and beliefs [4][5][9] - It highlights the shift from being an observer to a practitioner, reflecting on the need for deeper engagement with contemporary issues and personal experiences [5][8][10] Group 1: Time and Context - Xu emphasizes the power of time and how ideas are embedded in specific historical contexts, questioning how contemporary Chinese perspectives should evolve [5][6] - The transition from a media-centric approach to a more practical engagement with society is noted, as Xu seeks to connect personal beliefs with the realities of modern life [5][8] Group 2: Media and Public Engagement - The establishment of "One Way Street Library" and the subsequent success of the interview program "13 Invitations" illustrate Xu's journey from a media figure to a public intellectual [6][7] - The program's evolution from elite-focused content to a broader appeal reflects changes in societal discourse and Xu's desire to understand diverse life experiences [7][8] Group 3: Knowledge and Identity - Xu observes a fundamental shift in the role of intellectuals, noting their marginalization in favor of commercial and technological leaders, which has led to a fragmented societal structure [13][14] - He encourages the younger generation to seek unique personal experiences and form small communities to solidify their values amidst increasing organizational control [14][15] Group 4: Historical Reflection and Future Aspirations - Xu's writing on historical figures like Liang Qichao represents a deep dive into the past, aiming to counteract the superficiality often found in modern media [10][11] - His ongoing writing projects reflect a commitment to exploring complex narratives and maintaining a critical perspective on contemporary issues [16]

Group 1: General Public Budget Revenue - National general public budget revenue for January to November reached 200,516 billion yuan, a year-on-year increase of 0.8% [2] - National tax revenue amounted to 164,814 billion yuan, with a year-on-year growth of 1.8% [2] - Non-tax revenue was 35,702 billion yuan, showing a decline of 3.7% [2] - Central general public budget revenue was 88,464 billion yuan, down 1% year-on-year, while local general public budget revenue was 112,052 billion yuan, up 2.2% [2] Group 2: Major Tax Revenue Items - Domestic value-added tax collected was 63,629 billion yuan, reflecting a year-on-year increase of 3.9% [3] - Domestic consumption tax totaled 15,639 billion yuan, with a growth of 2.5% [4] - Corporate income tax reached 40,234 billion yuan, increasing by 1.7% [5] - Personal income tax was 14,689 billion yuan, showing a significant rise of 11.5% [6] - Import goods value-added tax and consumption tax were 16,520 billion yuan, down 4.7% [7] - Export tax rebates amounted to 19,038 billion yuan, with a year-on-year increase of 5.6% [8] - Stamp duty revenue was 4,044 billion yuan, with a notable increase of 27%, including securities transaction stamp duty at 1,855 billion yuan, up 70.7% [11] Group 3: General Public Budget Expenditure - National general public budget expenditure for January to November was 248,538 billion yuan, a year-on-year increase of 1.4% [20] - Central general public budget expenditure was 38,232 billion yuan, up 6.2% year-on-year, while local general public budget expenditure was 210,306 billion yuan, increasing by 0.6% [20] Group 4: Major Expenditure Items - Education expenditure reached 37,856 billion yuan, growing by 4.4% [21] - Social security and employment expenditure was 40,721 billion yuan, with an increase of 8.1% [22] - Science and technology expenditure totaled 8,892 billion yuan, reflecting a growth of 7.9% [22] - Health expenditure was 18,687 billion yuan, up 4.7% [22] - Urban and rural community expenditure decreased by 8.3% to 16,790 billion yuan [22] - Agricultural, forestry, and water expenditure fell by 13.6% to 19,449 billion yuan [22] Group 5: Government Fund Budget Revenue and Expenditure - National government fund budget revenue for January to November was 40,274 billion yuan, down 4.9% [22] - Local government fund budget revenue was 36,336 billion yuan, decreasing by 5.5%, with state land use rights transfer income at 29,119 billion yuan, down 10.7% [22] - National government fund budget expenditure was 92,124 billion yuan, increasing by 13.7% [23] - Local government fund budget expenditure was 83,046 billion yuan, up 6.6% [23]

Core Insights - The Ministry of Finance reported that from January to November 2025, property tax revenue reached 471.4 billion yuan, reflecting a year-on-year growth of 10.8% [1] Summary by Category Tax Revenue - Corporate income tax collected amounted to 402.34 billion yuan, showing a year-on-year increase of 1.7% [1] - Individual income tax revenue was 146.89 billion yuan, with a year-on-year growth of 11.5% [1] - Value-added tax and consumption tax from imported goods totaled 165.2 billion yuan, which represents a year-on-year decline of 4.7% [1] - Customs duties collected were 21.49 billion yuan, down 3.2% year-on-year [1] - Export tax rebates reached 190.38 billion yuan, indicating a year-on-year increase of 5.6% [1] - Vehicle purchase tax revenue was 18.14 billion yuan, reflecting a significant year-on-year decrease of 17.4% [1]