"我们柜台办不了这种业务，您得直接打电话。"多家银行网点工作人员给出了相似的回答。某股份行工 作人员解释称，信用卡业务与储蓄卡业务分属不同部门，网点主要承接后者，"即便是我们网点办的信 用卡，也是提交资料到信用卡中心制卡。" 一家国有大行的工作人员则告诉记者，该行柜台系统仅支持信用卡现金还款和激活业务，并无注销功 能。 整体来看，在记者咨询的12家股份制银行中，仅浙商银行一家表示可线下办理；6家国有大行中，也仅 有工商银行、建设银行和中国银行3家支持。 本报（chinatimes.net.cn）记者卢梦雪 北京报道 长期不用的信用卡，你会主动注销吗？ 近期，《华夏时报》记者走访发现，目前大多数股份制银行和国有大行的线下网点已不再支持办理信用 卡注销业务，客户需通过拨打信用卡中心电话完成注销申请。 "我们柜台办不了这项业务，您可以直接打电话处理。"在记者咨询线下注销流程时，多家银行网点的工 作人员均表示，网点主要承接储蓄卡业务，信用卡注销则归属于信用卡中心管理，"我们没有注销权 限。" 不过，虽省了跑到银行网点的精力，但信用卡的线上注销流程并不简单。记者注意到，许多信用卡注销 电话的语音菜单里并没有明确的注销选 ...

Core Insights - Honor's Chairman Wu Hui emphasized the importance of AI and terminals in the future of technology during the first Global Developer Conference, highlighting a significant investment of over 10 billion yuan in AI research [2][3] - The company aims to regain its position in the domestic smartphone market and expand into a broader ecosystem of interconnected devices [2][4] Group 1: AI Ecosystem Strategy - Honor introduced its "1×3×N" strategy, which includes a single platform (HONOR AI Connect), three empowerment models (ecological, channel, and technical brand empowerment), and multiple industry clusters [3] - The company has launched eight AI scenario-based ecological solutions covering smart home, connected vehicles, and more, with its vehicle connectivity solution already covering over 140 brands and 10,000 models [3][4] - Honor has partnered with over 200 ecosystem partners and initiated a "Partner Support Program" to optimize AI industry pricing [5] Group 2: Market Position and Competition - Honor's transition to an AI terminal ecosystem company is marked by a commitment to invest 10 billion USD over the next five years [4] - The company aims to differentiate itself from competitors like Xiaomi and Apple by focusing on AI capabilities in its products, particularly the newly launched Magic8 series [6][7] - Despite a decline in smartphone shipments, Honor holds a 14.4% market share in China, tied with OPPO, and is close to the leading brand, vivo [7] Group 3: Future Outlook - The competitive landscape in the smartphone market is intensifying, with many manufacturers launching flagship devices and new operating systems simultaneously [7][8] - Analysts suggest that the key to success for Honor lies in stabilizing its smartphone segment to build a larger user base for its AI ecosystem [8]

Core Viewpoint - ST Zhongdi continues to face significant financial challenges, with a sharp decline in revenue and increased net losses, yet its stock price has surged due to market speculation surrounding a change in control and the entry of a semiconductor background investor [2][3][6][7]. Financial Performance - For the first three quarters of 2025, ST Zhongdi reported total revenue of 135 million, a year-on-year decrease of 52.64%, and a net loss of 151 million, compared to a loss of 107 million in the same period last year [3]. - The company's cash flow from operating activities was 19.27 million, down 37.76% year-on-year [3]. - Quarterly performance shows worsening losses: Q1 revenue was only 28,050, down 99.26%, with a net loss of 29.01 million; Q2 revenue was 1.34 billion, down 45.11%, with a net loss of 55.84 million; Q3 revenue was 80,840, down 74.30%, with a net loss of 66.50 million [3][4]. Stock Price Movement - Despite poor financial results, ST Zhongdi's stock price has seen a remarkable increase, with six consecutive trading days of price limits, totaling a rise of approximately 34% since October 17 [2][5]. - On October 24, the stock closed at 5.68, with a total market capitalization of 1.7 billion [5]. Change in Control - On October 17, ST Zhongdi announced that its controlling shareholder, Guangdong Runhong Fuchuang Technology Center, would auction 71.14 million shares, representing 23.77% of the total shares, leading to a change in control [6]. - The shares were acquired by Tianwei Investment at a starting price of 255 million, which was about 20% lower than the initial auction price [6]. Future Prospects and Transformation - ST Zhongdi has expressed intentions to transition away from real estate development, focusing on new materials and technologies, although concrete progress has yet to be reported [8][9]. - The company has recently made several personnel changes, including the appointment of a new general manager and financial director, indicating a potential shift in strategy [9].

Core Viewpoint - The acquisition of Xinjiang Qianhai United Fund Management Co., Ltd. by Shanghai Securities marks a significant shift in the company's ownership and management structure, moving away from the "Baoneng system" and opening new development opportunities [2][3]. Group 1: Ownership and Management Changes - Xinjiang Qianhai United Fund has undergone a major management overhaul, with the resignation of former General Manager Wu Yucun and Chairman Huang Wei, replaced by He Guoling as the new General Manager and acting Chairman [2]. - Shanghai Securities has officially acquired 100% of Xinjiang Qianhai United Fund's shares, with the registered capital remaining unchanged at RMB 200 million [3]. - The previous shareholders, closely linked to the "Baoneng system," included Shenzhen Jushenghua Co., Ltd. and others, which have now been replaced by Shanghai Securities as the sole shareholder [4]. Group 2: Board Restructuring - The board of directors has been completely renewed, with seven new members appointed, including He Guoling and Li Haichao, who is the Chairman of Shanghai Securities [6]. - The new board composition reflects Shanghai Securities' deep involvement in the subsidiary, with members having significant experience in the financial sector [6]. Group 3: Company Performance and Challenges - Established in August 2015, Xinjiang Qianhai United Fund has struggled to grow, with a public fund size of less than RMB 9 billion as of June 2025, primarily relying on a single fund for its scale [8][9]. - The fund's performance is lagging behind peers established in the same year, highlighting the need for improved management and product offerings to enhance competitiveness [9]. - The entry of Shanghai Securities is seen as a potential turning point for the fund, with expectations for improvements in research capabilities, product optimization, and compliance [9].

消费引擎释放内需新活力 本报（chinatimes.net.cn）记者张智 北京报道 不久前的2025年中秋国庆假期，我国全社会跨区域人员流动量创下历史新高，其中，8.88亿人次国内出 游，较2024年国庆节假日7天增加1.23亿人次；国内游总花费8090.06亿元，较2024年国庆节假日7天增加 1081.89亿元。 热气腾腾的假日消费图景，是"十四五"期间中国内需潜力释放、发展韧性增强的生动缩影，也为"十五 五"时期扩内需工作打下了坚实的基础。 刚刚闭幕的党的四中全会审议通过了《中共中央关于制定国民经济和社会发展第十五个五年规划的建 议》（下称《建议》），其中要求，要建设强大国内市场，加快构建新发展格局，坚持扩大内需这个战 略基点，坚持惠民生和促消费、投资于物和投资于人紧密结合，以新需求引领新供给，以新供给创造新 需求，促进消费和投资、供给和需求良性互动，增强国内大循环内生动力和可靠性。要大力提振消费， 扩大有效投资，坚决破除阻碍全国统一大市场建设卡点堵点。 "我国扩大内需既有空间，又有潜力。《建议》提出，要坚持惠民生和促消费、投资于物和投资于人紧 密结合，深入实施提振消费专项行动，扩大服务消费，推动商品 ...

Core Viewpoint - The company, Zhuhai Zhimian Group, is divesting its real estate business to focus on its core duty-free business, aiming for profitability and a streamlined asset structure [2][4][5]. Group 1: Transaction Details - Zhuhai Zhimian Group announced the transfer of its 100% stake in Zhuhai Gree Real Estate Co., Ltd. to Zhuhai Toujie Holdings Co., Ltd. [2] - The transaction price is yet to be determined, and it is expected to constitute a significant asset restructuring without changing the controlling shareholder [3][4]. - The company plans to complete the divestment of its real estate business within five years, ceasing all real estate operations thereafter [2][3]. Group 2: Financial Performance - For the first half of the year, Zhuhai Zhimian Group reported a revenue of 1.74 billion yuan, a year-on-year decline of 45.62%, with a net loss of 274 million yuan [6]. - The decline in revenue is attributed to a significant drop in real estate project income following a major asset swap completed in 2024 [6]. - The real estate segment's revenue was approximately 425 million yuan, down over 70% year-on-year, while the duty-free business generated 1.13 billion yuan in revenue, contributing positively to the company's financial health [6]. Group 3: Strategic Focus - The company aims to pivot towards a large consumer strategy, focusing on duty-free operations and optimizing its asset structure to enhance operational efficiency [4][5]. - The divestment aligns with a broader trend in the industry where companies are shedding real estate operations to pursue new growth avenues [8]. - Following the transfer of shares to Huafa Group, Zhuhai Zhimian Group intends to leverage Huafa's resources to improve its strategic operations and profitability [8].

Core Insights - The central theme of the articles is the transition of China's real estate industry towards "high-quality development," as emphasized in the recent Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, marking a shift from quantity expansion to quality enhancement [1][5][7]. Group 1: Policy Framework and Industry Transition - The Fourth Plenary Session's focus on "high-quality development" indicates a strategic upgrade in the real estate sector, moving from short-term market rescue to long-term foundational building [7]. - The policy framework includes a combination of measures aimed at addressing current market contradictions and outlining a clear path for the new model of real estate development, which emphasizes quality over quantity [1][3][7]. - The government aims to enhance housing quality through standards that prioritize safety, comfort, sustainability, and intelligence, as outlined in the new residential project regulations [3][6]. Group 2: Achievements and Developments - During the "14th Five-Year Plan" period, approximately 50 billion square meters of new residential properties were sold, and over 24,000 old urban communities were renovated, benefiting over 40 million households [2][3]. - The "guarantee housing" initiative has successfully delivered over 7.5 million units of sold but undelivered homes, stabilizing market expectations and preventing systemic risks [3]. - The housing security system has been significantly improved, with over 11 million units of various types of affordable housing constructed, benefiting more than 30 million people [2]. Group 3: Future Directions and Expectations - The "15th Five-Year Plan" is expected to focus on urban renewal, improving housing security, and constructing high-quality homes, laying the groundwork for a new pattern of high-quality development in real estate [9]. - The emphasis on urban renewal is anticipated to stimulate investment and consumption, while also addressing the housing needs of young people and new residents in cities [6][9]. - The real estate sector is expected to continue adhering to the "housing is for living, not for speculation" principle, with a focus on a balanced supply system that integrates both market and security aspects [9].

Core Viewpoint - The recent Fourth Plenary Session of the 20th Central Committee of the Communist Party of China emphasizes "promoting high-quality development" in the real estate sector, marking a shift from quantity expansion to quality enhancement in the industry [3][6]. Group 1: Policy Framework and Industry Transition - The policy framework focuses on "strict control of increment and optimization of stock," aiming for a quality-oriented approach in housing construction and financing support for real estate companies [3][4]. - The transition to high-quality development is seen as essential for the healthy growth of the industry and meeting the public's aspirations for better living conditions [3][4]. Group 2: Achievements During the 14th Five-Year Plan - During the 14th Five-Year Plan, approximately 50 billion square meters of new residential properties were sold, and the stock housing market has expanded significantly, with 15 provinces seeing higher transaction volumes in second-hand homes than new ones [4]. - Over 1.1 million units of various types of affordable housing were constructed, benefiting over 30 million people, showcasing the government's commitment to addressing housing issues [4][5]. Group 3: High-Quality Development Goals - The high-quality development goal includes enhancing the construction quality of homes and improving industry management and product supply systems [7][8]. - The focus is on aligning high-quality development with housing goals, ensuring economic rationality and quality improvement in the sector [8]. Group 4: New Development Model - The new development model aims to deepen reforms in the real estate sector, improve the housing supply system, and establish a new mechanism linking people, housing, land, and finance [5][9]. - The emphasis on urban renewal and the construction of "good houses" is expected to stimulate investment and consumption, providing ongoing momentum for the real estate sector [9].

Core Viewpoint - The Fourth Plenary Session of the 20th Central Committee emphasizes the importance of achieving high-quality economic development and outlines specific guidelines for economic and financial reforms during the "14th Five-Year Plan" period [3][4]. Economic Goals and Policies - The session highlights the need to stabilize employment, businesses, markets, and expectations to maintain the economic foundation and support the recovery momentum [3][4]. - Macro policies are expected to continue to exert force and be adjusted as necessary, with a focus on implementing enterprise support policies and boosting consumption [3][7]. Internal and External Environment - The "14th Five-Year Plan" period is characterized by complex changes in the development environment, with both strategic opportunities and risks present [4][5]. - The external environment is increasingly challenging due to factors such as rising tariffs from the U.S. and restrictions on high-tech exports, necessitating a focus on self-reliance in technology and strengthening supply chain security [4][5][6]. Monetary Policy - The monetary policy is set to remain "moderately loose," with an emphasis on maintaining liquidity and supporting economic growth through targeted measures [7][8]. - Future monetary policy will focus on precise actions, including potential interest rate cuts and structural tools to support innovation and small businesses [8][9]. Policy Coordination - There will be a coordinated approach between fiscal and monetary policies to avoid excessive tightening or loosening, ensuring stability and continuity in financial policies during the "14th Five-Year Plan" [9]. - The necessity for new growth-stabilizing policies is anticipated, particularly in the fourth quarter, with a focus on fiscal support and monetary easing to stabilize the real estate market [9].

Core Insights - The emergence of DeepSeek in 2025 highlights China's capability to reshape the global competitive landscape through breakthroughs in underlying technologies, marking a "Sputnik moment" for Western countries [1] - The recent Fourth Plenary Session of the 20th Central Committee of the Communist Party of China emphasized the importance of technological self-reliance and innovation as a strategic choice for long-term competitive advantage [1][2] Group 1: Technological Focus - The Fourth Plenary Session report mentioned "technology" ten times, indicating a strong emphasis on technological development as a driver for economic growth during the 15th Five-Year Plan [2] - The 15th Five-Year Plan aims for significant improvements in self-reliance in technology, with a clear focus on high-level technological independence compared to the previous plan [3] Group 2: Economic and Industrial Development - The 15th Five-Year Plan sets ambitious goals for high-quality development, including significant advancements in economic strength, technological capability, and overall national influence by 2035 [3] - The report outlines a vision for the development of emerging industries, including new energy, new materials, and aerospace, which are expected to create trillion-level markets [4][5] Group 3: Innovation Strategy - The strategy for the 15th Five-Year Plan includes enhancing original and disruptive innovation, with a focus on key core technologies and deep integration of technological and industrial innovation [6][7] - The emphasis on original innovation is seen as essential for achieving high-level technological self-reliance and overcoming previous technological gaps [8]