Group 1 - The Shenzhen Municipal Housing and Construction Bureau and the People's Bank of China Shenzhen Branch issued a notification to further optimize and adjust real estate policies in Shenzhen to better meet residents' housing needs and promote stable market development [1] - Residents eligible to purchase commercial housing in specified districts can buy an unlimited number of properties, while non-local residents without proof of tax or social insurance contributions are limited to two properties [1][2] - Single adults will be subject to the same housing purchase restrictions as resident families [1] Group 2 - Enterprises and institutions can purchase commercial housing within the city to address employee housing needs, with specific conditions for purchases in certain districts [2] - In designated areas, enterprises must meet criteria such as a minimum establishment period, tax contributions, and employee count to qualify for purchasing commercial housing [2] - In other areas, there will be no qualification review for purchasing commercial housing [2] Group 3 - Financial institutions will no longer differentiate between first and second home loans in terms of interest rate pricing, allowing for a more flexible approach based on market conditions and client risk profiles [3] - The new policies will take effect from September 6, 2025 [4]

Group 1 - Tesla has proposed an unprecedented compensation plan for CEO Elon Musk, which could grant him 423.7 million shares worth up to $1.2 trillion if the company's market value rises from $1 trillion to $8.5 trillion within 10 years [1] - The plan includes 12 strict milestones, such as delivering 1 million Optimus humanoid robots, 20 million Tesla vehicles, and launching 1 million autonomous taxi services, along with increasing adjusted EBITDA to $400 billion [1] - Following the announcement, Tesla's stock price rose by 3.64%, reaching a market capitalization of $1.13 trillion, despite a recent 28% decline due to weak sales and Musk's political controversies [1] Group 2 - Elon Musk currently holds 410 million shares of Tesla valued at $138.8 billion, with a total net worth of $378 billion when including assets from SpaceX, xAI, and others [2] - Tesla's board insists that Musk's public engagements do not detract from his leadership focus, which is deemed essential for the company's growth [2] - The rollout of the autonomous taxi service is seen as a key factor in restoring Tesla's growth momentum, paving the way for the realization of the high-value compensation plan [2]

Core Points - Tesla announced a proposal for a new compensation package for Elon Musk, which could potentially make him a trillionaire if fully realized [1] - The new tiered compensation plan could grant Musk up to 423.7 million additional shares of Tesla stock, valued at approximately $143.5 billion based on the previous day's closing price [1] - To receive the full stock allocation, Tesla's market capitalization must reach a series of thresholds, including a target of $8.5 trillion, which is about eight times its current value and double that of Nvidia, the current "king of stocks" [1]

（一）降低认申购费率。将股票型基金、混合型基金、债券型基金的认申购费率上限分别调降至0.8%、0.5%、0.3%。同时，鼓励销售机构在覆盖成本的前 提下，进一步加大认申购费打折力度。（二）优化赎回费安排。将赎回费全部计入基金财产，并将四档赎回费率安排简化成三档，降低收费机制复杂性。同 时，优化7日、30日、6个月持有期限的赎回费安排，引导投资者长期投资。（三）规范销售服务费。将股票型基金和混合型基金、指数型基金和债券型基 金、货币市场基金的销售服务费率上限分别调降至0.4%/年、0.2%/年、0.15%/年。同时，对持有期超过1年的基金份额（货币市场基金除外），不再继续收 取销售服务费。（四）聚焦个人客户服务。对个人客户的销售保有量，维持现行50%的客户维护费比例不变，对机构投资者销售权益类基金的保有量维持现 行30%的比例不变，鼓励销售机构提升个人客户服务能力。（五）明确平台法律定位。明确基金行业机构投资者直销服务平台（FISP平台）的法律依据及功 能定位，要求行业机构积极对接平台，并鼓励机构投资者通过FISP平台申赎公募基金，增强行业直销服务能力。（六）其他修改内容。明确代销机构清算账 户沉淀资金应当按照 ...

责任编辑：钟离 白宫经济顾问哈塞特：就业数据可能被上修近7万个。 ...

"美联储传声筒"Nick Timiraos：美国今年夏天就业增长急剧放缓，很可能使美联储在两周后的会议上决 定降息25个基点。 责任编辑：钟离 ...

Core Insights - The U.S. job growth significantly slowed in August, with the unemployment rate rising to its highest level since 2021, raising concerns about a potential worsening labor market [1] - The U.S. Bureau of Labor Statistics reported an increase of only 22,000 non-farm jobs in August, with revised data showing a decline in employment numbers in June for the first time since 2020 [1] - Recent months have seen a substantial slowdown in job growth, a decrease in job vacancies, and a slowdown in wage growth, all of which are exerting pressure on broader economic activity [1] - Traders are increasingly betting that the Federal Reserve will lower interest rates in its September meeting, with policymakers awaiting the latest CPI report before the meeting [1]

Group 1 - On September 5, Guotai Junan Securities Co., Ltd. signed a strategic cooperation agreement with Alibaba Cloud Intelligence Group to leverage their respective strengths in promoting the application of cloud computing and artificial intelligence in core financial service scenarios [1] - The signing ceremony was witnessed by key executives including Guotai Junan's Chairman Zhu Jian and Alibaba Group's CEO Wu Yongming, along with other senior representatives from both companies [1][3] Group 2 - According to the agreement, the two parties will jointly develop an open and compatible intelligent computing platform based on Alibaba Cloud's leading large model capabilities and computing power advantages, focusing on high-frequency business scenarios to enhance computing efficiency and innovation capabilities [5] - The collaboration will deepen AI application scenarios, including intelligent investment research, intelligent investment advisory, and smart office solutions, while jointly developing vertical large models for the securities industry to optimize customer service experience and internal management efficiency [5] - To enhance global competitiveness, Guotai Junan will integrate and upgrade its technology architecture by leveraging Alibaba Cloud's extensive global cloud computing capabilities to develop overseas business [5]

Core Viewpoint - Hisense has launched the U7S Pro RGB-Mini LED TV at IFA 2025, marking a significant advancement in display technology with a focus on high color accuracy, brightness, and energy efficiency [1][3]. Product Launch and Specifications - The U7S Pro will be available in 75, 85, and 100-inch sizes, set to begin mass production by the end of September [1]. - The TV features a "dual-chip" combination that enhances its RGB-Mini LED capabilities, promising ultra-high color, brightness, wide viewing angles, and low energy consumption [1][6]. Technological Advancements - Hisense's RGB-Mini LED technology has achieved a 100% BT.2020 color gamut coverage, 100% color purity, and low blue light protection [5]. - The TV incorporates the world's first anti-reflective black screen Pro and advanced audio technologies, including Dolby Vision 2, to enhance visual and auditory experiences [5]. Industry Impact - Hisense is recognized as the only brand globally to mass-produce RGB-Mini LED TVs, establishing a new standard in the industry [6][10]. - The RGB-Mini LED technology is seen as a revolutionary step in display technology, with significant improvements in color space and purity compared to QD-OLED and traditional Mini LED [4][9]. Competitive Edge - The new AI picture quality chip H7 allows for the highest industry partition control and color precision, addressing long-standing challenges in the display sector [8][9]. - Hisense's RGB-Mini LED technology is positioned as the most reliable and efficient solution in the market, providing a "Chinese solution" for global display industry upgrades [9].

Core Viewpoint - The August non-farm payroll report from the U.S. Labor Department revealed a significant slowdown in the labor market, with only 22,000 jobs added, far below market expectations of 75,000 and the previous month's 73,000 [1][2]. Group 1: Labor Market Insights - The low job addition indicates a potential turning point in the labor market, confirming a cooling of economic activity [2]. - The unemployment rate slightly increased to 4.3%, up from 4.2%, which adds to concerns about the labor market's health [1][3]. Group 2: Market Reactions - Following the data release, the financial markets experienced significant volatility, with the dollar index dropping sharply and gold prices reaching historical highs [3]. - The relationship between the dollar and risk assets has become tighter, indicating that the dollar is increasingly acting as a "risk currency" rather than just a safe haven [3]. Group 3: Future Implications - Upcoming annual revision data is expected to potentially revise down hundreds of thousands of jobs, with estimates suggesting a reduction of 800,000 jobs [4]. - If the job revisions are substantial, it could shift market sentiment from anticipating rate cuts to concerns about an economic recession, impacting both equity and bond markets [4].