Core Viewpoint - The regulatory authorities in Beijing are intensifying efforts to address the spread of false information and market panic regarding the real estate sector, targeting several internet platforms for their role in disseminating misleading content [2][4]. Group 1: Regulatory Actions - A joint meeting was held on December 5, involving the Beijing Municipal Housing and Urban-Rural Development Committee, the Municipal Cyberspace Administration, and the Public Security Bureau, to address issues related to platforms like Douyin, Xiaohongshu, Beike, 58.com, Xianyu, Lianjia, and Wo Ai Wo Jia [2][3]. - The meeting highlighted that some self-media accounts were spreading negative narratives about the Beijing real estate market, which disrupts market order and harms consumer rights [4][6]. Group 2: Platform Responsibilities - Certain platforms have been criticized for lax oversight of illegal and misleading information, relying heavily on algorithmic recommendations that allow the spread of low-quality content [4][5]. - Platforms like Xiaohongshu have been found to host fictitious listings, such as a "two-bedroom apartment in Chaoyang for 3,000 yuan," which misled users and violated consumer protection laws [4][5]. Group 3: Data Security and User Protection - Some platforms have been accused of improperly collecting and using user data, raising concerns about data security and social responsibility [5][6]. - The regulatory approach includes a combination of "interviews, penalties, and credit ratings" to compel platforms to reassess their content ecosystem and ensure compliance with legal obligations [5][6]. Group 4: Long-term Mechanisms - The regulatory initiative aims to establish three long-term mechanisms: mandatory verification codes for listings, AI-driven content review, and a credit rating system for accounts based on their history of violations [6][7]. - Platforms like Beike are implementing systems to verify the authenticity of listings, achieving a 98% identification rate for false listings [7][8]. - A cross-platform blacklist mechanism is being developed to jointly penalize accounts that post misleading content across multiple platforms [8].

机场巴士廊坊城市航站楼至大兴机场方向已恢复运营，大兴机场至廊坊城市航站楼方向在14:00恢复运 营。 经济观察网据气象部门消息，本轮影响大兴机场的大雾天气已结束，各条跑道航班起降均恢复正常， 12:40大面积航班延误红色响应降级为橙色响应。截至13:00，大兴机场已执行进出港航班240架次。 目前，航站楼内服务设施、餐饮零售店铺资源充足，旅客有序候机。 ...

经济观察网2026年的元旦比2025年多放2天假，为文旅消费市场带来乘数级拉动效应。数据显示，截至 12月17日，元旦假期国内航线机票预订量超176万张，同比增长约46%。"冰雪游"和"避寒游"成为两大 主流旅行趋势。此外，这个元旦假期从北京、天津等主要城市飞往三亚、海口、昆明、广州、厦门等热 门避寒目的地的机票预订热度环比上涨36%。飞到大湾区多个城市的机票量同比大幅增长。 ...

"基金投顾奖"的斩获，印证了国联民生证券在买方投顾领域的行业领先地位。作为国内首批基金投顾试 点券商，公司始终将基金投顾业务作为财富管理转型的核心抓手，聚焦 "破解基金赚钱、基民不赚钱" 行业痛点。截至 2025年半年度，公司基金投顾保有规模达 97.08 亿元，策略团队在震荡市中展现出卓越 的回撤控制能力，收益率远超市场偏股基金平均水平。通过分布式投顾模式延伸服务触达、工具化策略 满足多元需求，公司实现了 To B 与 To C 业务的多元创新，为投资者提供了 "专业创造价值，陪伴铸就 成长" 的全流程投顾服务，完美契合提升投资者获得感的行业导向。 姜晓林荣膺 "财富管理领军人奖"，是对其个人行业影响力与战略引领力的高度认可。作为扎根证券行 业 30余年的 "拓荒者"，姜晓林先生亲历了国内券商经纪业务从手工操作到数字化转型、从交易驱动到 资产配置驱动的全历程。2021 年加盟国联民生证券后，他主导推动财富管理转型，构建起以资产配置 为核心的服务体系，探索分布式投顾等创新模式；2024 年公司合并后，他出任财富管理业务整合工作 协调小组副组长，牵头推进两家机构财富管理业务的深度融合，妥善解决业务体系、客户资源 ...

真正的难题写在后面：如何将庞大的资产数字，转化为真实的竞争优势？ 作者：胡群 封图：图虫创意 "万亿券商"的蓝图将从纸面走向现实，而市场的考卷才刚刚展开。 12月17日晚，中国国际金融股份有限公司（下称"中金公司"； 601995.SH）发布公告，披露了换股吸收合并东兴证券与信达证券的预案全文，并宣布公司 A股股票将于次日复牌。至此，这场自11月20日开启停牌、牵动市场神经的券商整合案，完成了第一阶段的理论设计，即将进入更为复杂的实践验证阶 段。 12月18日开市，中金公司的股票代码将结束长达20个交易日的静默。但这并非简单的交易重启，而更像一场面向全体投资者的公开"答辩"。市场将用最直 接的定价行为，对这份"三合一"方案的可行性、溢价合理性及协同前景，投下第一轮信任票。 根据预案，本次交易的核心定价基准已然清晰：中金公司作为存续方，换股价定为36.91元/股；东兴证券与信达证券的换股价分别为16.14元/股与19.15元/ 股，对应换股比例为1:0.4373和1:0.5188。其中，东兴证券定价较基准溢价26%，体现了对其区域网络价值的认可。交易完成后，一个总资产超1万亿元、 净资产约1715亿元的行业新巨 ...

Group 1 - The central economic work conference emphasizes "domestic demand as the main driver" for the upcoming year, focusing on building a strong domestic market [1] - There is a growing discussion about the "temperature difference" between macroeconomic performance and microeconomic sentiment, with macro indicators showing strength while micro experiences remain subdued [1][2] - The "involution" phenomenon in enterprises is linked to this temperature difference, where companies prioritize cash flow stability, leading to increased production but declining profit margins [2] Group 2 - Suggestions for boosting consumption include increasing income, ensuring leisure time, improving consumption scenarios, and providing quality products [2] - The central economic work conference proposes enhancing counter-cyclical and cross-cyclical adjustments, with a focus on demand-side policies and structural supply-side improvements [3] - Economic growth targets for 2026 are suggested to be set between 4.5% and 5.0%, slightly lower than the previous year's target, aligning with long-term GDP growth trends [4] Group 3 - The macroeconomic policy direction is expected to lean towards easing, with one interest rate cut and one reserve requirement ratio reduction anticipated [5] - The average economic growth rate during the 14th Five-Year Plan period is projected to be around 4.5%, with 2026 GDP growth expected at 4.8% [6] - A modern industrial system is highlighted as a key focus for cross-cyclical policies, emphasizing the transformation of traditional industries and the development of strategic emerging industries [6]

经查，何志旭丧失理想信念，背弃初心使命，对抗组织审查；无视中央八项规定精神，收受可能影响公 正执行公务的礼品礼金和明显超出正常礼尚往来的财物，将应由本人支付的费用交由他人支付；违背组 织原则，不如实报告个人有关事项，利用职权为他人谋取人事利益并收受财物；廉洁底线失守，违规从 事营利活动，违规兼职取酬，在购买住房中侵犯国家、集体利益；将公权力异化为谋取私利的工具，大 搞权钱交易，利用职务便利为他人在项目承接、职务提拔调整等方面谋取利益，非法收受巨额财物。 经济观察网 12月18日，中央纪委国家监委网站通报，据贵州省纪委监委消息：经贵州省委批准，贵州 省纪委监委对贵州医科大学原党委书记、贵州省天然产物研究中心原党委书记（兼）何志旭严重违纪违 法问题进行了立案审查调查。 何志旭严重违反党的政治纪律、组织纪律和廉洁纪律，构成严重职务违法并涉嫌受贿犯罪，且在党的十 八大后不收敛、不收手，性质严重，影响恶劣，应予严肃处理。依据《中国共产党纪律处分条例》《中 华人民共和国监察法》《中华人民共和国公职人员政务处分法》等有关规定，经贵州省纪委常委会会议 研究并报贵州省委批准，决定给予何志旭开除党籍处分；由贵州省监委给予其开除公 ...

Group 1 - The core viewpoint of the article is the launch of the Hongqi HS6 PHEV, a new flagship SUV from Hongqi, which aims to compete in the mid-to-large new energy SUV market against popular models like Li Auto L6 and BYD Tang [2] - The Hongqi HS6 PHEV is priced between 178,800 yuan and 228,800 yuan, with a starting price that is over 70,000 yuan lower than the Li Auto L6 [2] - The vehicle boasts a Guinness World Record for a full tank and battery range of 2,327.343 kilometers, significantly outperforming competitors in terms of long-distance travel capabilities [2] Group 2 - The challenges faced by the Hongqi HS6 PHEV include brand recognition and market reputation, as the Hongqi brand has not yet established a strong presence in the new energy vehicle market [3] - The intelligent driving system, while comprehensive, lacks the user recognition and algorithm maturity compared to leading new energy brands, indicating a need for improvement in user experience [3] - The restructuring of the Hongqi brand into three sub-brands aims to focus on user demographics rather than just energy types, with the HS6 PHEV being the first product under this new framework [4] Group 3 - The three sub-brands have distinct missions: the main Hongqi brand targets mainstream consumers, "Hongqi Tiangong" focuses on younger users with trendy designs and smart technology, and "Hongqi Jinkuihua" aims at the ultra-luxury market [4] - The HS6 PHEV is seen as a representative of the new generation of Hongqi, marking a shift in brand image from "national car manufacturing" to "family-oriented vehicle production" [4] - In November, Hongqi's monthly sales exceeded 40,000 units, with a 60.8% year-on-year growth in new energy products, indicating a strengthening competitive position in the new energy sector [5]

Core Viewpoint - Mannings, a well-known beauty and personal care chain from Hong Kong, announced a significant strategic adjustment by closing all its stores and online operations in mainland China, marking a complete withdrawal from the market [2][3][4] Group 1: Store Closures - Mannings will cease operations in mainland China, with the last physical store closing on January 15, 2026, and its online platforms shutting down by December 28, 2025 [2][3] - The company has been gradually reducing its presence in major cities since 2020, with notable closures in Beijing and Wuhan, where several stores have already shut down [3][4] - In Shenzhen, only two stores remain operational, and similar sentiments of regret have been expressed by consumers in Dongguan regarding the brand's exit [3][4] Group 2: Market Challenges - The decision to exit the mainland market is attributed to intensified competition, the rise of domestic beauty brands, and the influx of international brands, which have diversified consumer choices [3][4] - The rapid growth of e-commerce has significantly impacted traditional brick-and-mortar stores, leading to decreased foot traffic and sales for Mannings [3][4] - Rising rental and labor costs have further pressured Mannings' operations, prompting a reevaluation of its market strategy [4] Group 3: Strategic Adjustments - Despite efforts to optimize its store layout and product offerings, including a focus on health and beauty products, Mannings has struggled to compete with emerging beauty retailers that attract younger consumers [4][5] - The company plans to continue offering its products through cross-border e-commerce channels, allowing consumers to purchase items from Hong Kong stores [4] - The exit of Mannings is part of a broader trend, as other Hong Kong beauty retailers like Sa Sa International have also announced their withdrawal from the mainland market due to similar challenges [5]

经济观察网12月18日，光合组织2025人工智能创新大会(HAIC2025)在江苏昆山举行。作为国内首个聚 焦"AI计算开放架构"的行业大会，本次大会汇聚了来自芯片、服务器、存储、超节点、AIPC以及大模 型、智能体和行业应用等环节的产业链上下游机构与企业，覆盖从底层算力到系统平台再到应用落地的 完整链条。与会多方围绕开放架构下的算力协同、软硬件适配和生态共建展开交流，集中展示国产智能 计算在体系化推进中的阶段性成果。 在人工智能加速走向规模化应用的背景下，HAIC2025以"产业大集"的形式搭建跨领域协同平台，将推 动国产计算生态从单点突破向系统化、开放化演进，为智能计算产业的持续发展提供现实路径。 ...