24日，国内铂金、钯金、白银、金属铜、黄金，继续保持你追我赶态势，纷纷再次刷新历史新高。 特别是白银期货合约资金流入量之大，大大超乎意料，24日净流入资金规模近65亿元，持仓量近82万手，沉淀 资金规模692亿元。资金增幅之大，涨幅之猛烈，堪称历史罕见。 截至记者发稿时，从单月涨幅来看，国内白银期货12月初至今，涨幅已经达到38.36%，远超国际白银价格涨 幅，纽约白银期货同期涨幅仅为25.4%，伦敦现货白银同期涨幅仅为26%。 国内白银价格单月涨幅领跑全球 值得注意的是，白银资金大幅流入，是在交易所限仓的背景下。根据《上海期货交易所风险控制管理办法》的 有关规定，自2025年12月24日（即12月23日夜盘）交易起，非期货公司会员、境外特殊非经纪参与者、客户在 白银期货AG2602合约的日内开仓交易的最大数量为10000手。 在此之前，上海期货交易所也曾于12月10日发布通知，自2025年12月12日收盘结算时起，将白银期货AG2602 合约的涨跌停板幅度由14%上调至15%，套保持仓交易保证金比例由15%上调至16%，一般持仓交易保证金比 例则由16%上调至17%。 不仅国内在调保限仓，国际市场也在推进。 ...

近日，中国人民银行货币政策委员会召开2025年第四季度（总第111次）例会。 在利率方面，本次会议继续建议强化央行政策利率引导，完善市场化利率形成传导机制，发挥市场利率定价自律机制作用， 加强利率政策执行和监督。 对于债券市场，会议建议从宏观审慎的角度观察、评估债市运行情况，关注长期收益率的变化。 对于外汇市场，会议继续强调增强外汇市场韧性，稳定市场预期，防范汇率超调风险，保持人民币汇率在合理均衡水平上的 基本稳定。 对于资本市场，会议继续建议"维护资本市场稳定"，提出用好证券、基金、保险公司互换便利和股票回购增持再贷款，探索 常态化的制度安排。 会议未对房地产市场提出建议，但继续提出要引导大型银行发挥金融服务实体经济主力军作用，推动中小银行聚焦主责主 业，增强银行资本实力，共同维护金融市场的稳定发展。 对比三季度例会，本次例会在分析外部形势时，指出当前外部环境变化影响加深，对世界经济增长动能的研判由上季度例会 的"减弱"转为"不足"。在分析国内经济形势时，本次例会未再提及"物价低位运行"，而是提出我国经济运行"仍面临供强需弱 矛盾突出等问题和挑战"。 会议要求继续实施适度宽松的货币政策，加大逆周期和跨周期调 ...

Core Viewpoint - Intel faces significant challenges as its stock price drops following Nvidia's suspension of testing on Intel's 18A process technology, despite a recent $5 billion investment from Nvidia and a $8.9 billion investment from the U.S. government [1][2][3][4]. Group 1: Stock Performance and Market Reaction - Intel's stock price fell over 5% in pre-market trading after reports of Nvidia halting tests on Intel's 18A manufacturing process, reaching a low of $34.44 per share [2]. - Despite the approval of Nvidia's $5 billion strategic investment by the FTC, Intel's stock did not see a positive reaction [1][4]. Group 2: Strategic Investments and Partnerships - The U.S. government plans to invest $8.9 billion in Intel, acquiring a 9.9% stake, funded by previously allocated subsidies under the CHIPS and Science Act [3]. - Nvidia's investment of $5 billion will allow it to acquire nearly 4% of Intel's shares, with the deal aimed at developing PC and data center chips [4][5]. Group 3: Competitive Landscape and Challenges - Intel is losing market share and technological edge, particularly in the AI sector where it trails Nvidia, and in the CPU market where it faces competition from AMD [2][5]. - The collaboration between Intel and Nvidia is seen as a potential turning point for Intel, providing not just financial support but also a chance for technological revival through joint development of advanced chips [5].

Core Viewpoint - A recent incident involving unauthorized entry into a construction site of Shenzhen Metro Line 22 for photography has raised significant safety concerns and led to disciplinary actions against involved parties [1][2]. Group 1: Incident Overview - A woman entered an under-construction metro tunnel in Shenzhen to take photos and posted them online, which drew public attention [1]. - The construction site is managed by Shenzhen Metro Construction Group, with design and construction responsibilities held by China Railway Design Corporation and China Railway First Group [1]. Group 2: Investigation Findings - The photographer, Lin, had previously contacted personnel from China Railway Design Corporation to arrange the shoot but did not obtain the necessary permissions from Shenzhen Metro Construction Group [1]. - On December 15, Lin and her team entered the site without authorization and filmed, subsequently releasing the video on December 20 [1]. Group 3: Disciplinary Actions - Shenzhen Metro Construction Group issued warnings and took disciplinary actions against the involved companies and individuals, including a yellow card warning to China Railway Design Corporation and a reprimand to China Railway First Group [2]. - The responsible personnel from both companies are to be held accountable, and the involved photographers received educational criticism [2]. Group 4: Future Measures - The company plans to implement special rectification measures to enhance site management and conduct thorough risk assessments to prevent similar incidents in the future [3].

Macroeconomic Dynamics - The People's Bank of China will conduct a 400 billion MLF operation with a one-year term to maintain ample liquidity in the banking system [2] - The National Energy Administration reported that the total electricity consumption in November increased by 6.2% year-on-year, reaching 8,356 billion kilowatt-hours [7] Regulatory Actions - Multiple departments, including the State Administration for Market Regulation, issued a plan to enhance product quality management on online trading platforms, emphasizing the need for compliance and risk management [5] - Eight departments, including the People's Bank of China, are supporting the exploration of cross-border digital RMB payment pilot programs with Singapore [6] Market Data - On December 24, A-shares saw collective gains, with the Shanghai Composite Index rising by 0.53% and the Shenzhen Component Index increasing by 0.88% [9] - The financing balance in the two markets increased by 147.95 billion, with the Shanghai Stock Exchange reporting a balance of 12,712.02 billion and the Shenzhen Stock Exchange at 12,355.06 billion [11] Company Developments - Xinhua Insurance announced the election of Yang Yu as the chairman of the board [8] - Dongfang Zhenxuan confirmed that Sun Jin, the vice president of New Oriental, will serve as the executive president [12] - Victory Energy reported a cumulative stock price increase of 135.86% over nine consecutive trading days, indicating potential abnormal trading behavior [13] - JD.com stated that its warehouse in Paris has resumed normal operations following a theft incident, clarifying discrepancies in reported loss data [15]

Core Viewpoint - AI hardware concept stocks have shown significant strength, particularly in the PCB sector, with multiple stocks hitting their daily limit up, indicating strong market interest and potential growth in this area [1][3]. Group 1: Market Performance - PCB concept stocks collectively surged, with notable performances from Tianjin Prilin, which hit a 10% limit up shortly after market opening, followed by other stocks like Tiantong Co., Ruihua Tai, and Youyan Powder Material also reaching their daily limit [1][3]. - The overall PCB sector saw an increase of over 2.7% by market close, with several companies achieving a 20% limit up [3]. Group 2: AI Server Market Insights - NVIDIA's new AI server, the GB300 series, is expected to see shipments reach 55,000 units in 2026, representing a 129% year-on-year growth, which is anticipated to positively impact the supply chain [2][4]. - The GB300 series has improved specifications in key components such as cooling systems and connectors, suggesting higher unit prices and overall value compared to previous models [4]. Group 3: Future Market Projections - The global high-end AI server PCB market is projected to reach $11.49 billion by 2031, with a compound annual growth rate (CAGR) of 6.8% from 2025 to 2031, driven by the increasing demand for advanced server components [5]. - Capital expenditures in global data centers are expected to grow by 59% year-on-year by Q3 2025, indicating a sustained investment trend in AI infrastructure [5]. Group 4: Industry Trends and Opportunities - The demand for high-end PCBs is increasing due to the need for thinner, denser, and better cooling solutions, leading to a rise in prices and a shift towards more advanced PCB types [6]. - The AI industry's growth is expected to create significant opportunities in various segments, including AI servers and related materials, with a focus on maintaining high performance and reliability [6].

来源：长安街知事 责编： 刘珺宇 校对： 王蔚 据新华社消息， 政协第十四届全国委员会第四十五次主席会议24日上午在京召开。会议确定，全国政协 常委、外事委员会副主任刘结一为政协第十四届全国委员会第四次会议新闻发言人。 公开简历显示，刘结一出生于1957年12月，北京市人，长期在外交系统工作，曾任外交部军控司司长、 国际司司长、美大司司长，外交部部长助理，中共中央对外联络部副部长，中国常驻联合国代表、特命全 权大使，中共中央台办、国务院台办副主任（正部长级）。 2018年3月，刘结一任中共中央台办、国台办主任，2022年12月卸任。2023年，他出任全国政协常 委、外事委员会副主任。 2024年3月、2025年3月，刘结一先后担任全国政协十四届二次会议、三次会议新闻发言人。 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 ...

"货币保卫战"突然打响！ 面对持续贬值的韩元汇率，韩国当局12月24日表示，将采取多项新税收措施以稳定外汇市场。另据韩媒报道， 韩国政府近两周来召开系列会议，并向各部门和机构下达了响应措施。受此刺激，韩元兑美元汇率直线猛拉， 日内一度大涨2.5%。 与此同时，日本政府也对汇率市场发出了最强硬的警告。据最新消息，日本财务大臣片山皋月（Katayama） 表示，针对脱离基本面的汇率波动，日本拥有采取"大胆行动"的"自由裁量权"。 韩国"救市" 构持有的法定外汇存款准备金支付利息。 当地时间12月24日，韩国当局表示，韩元过度疲软并非好事，外汇市场将很快就会看到政府的"坚定决心"。 韩国央行、韩国财政部表示，过去两周已多次召开会议讨论韩元近期走弱问题。同时，韩国财政部宣布，将采 取多项新税收措施以稳定外汇市场。 受上述消息刺激，韩元汇率直线爆拉，日内一度暴涨2.5%，最高升至1美元兑1443.79韩元。在此之前，韩元一 度贬值至1美元兑1485韩元，逼近2009年全球金融危机以来的最低水平。 据韩联社报道，韩国政府近两周来召开系列会议，并向各部门和机构下达了响应措施。这些措施能体现韩国政 府稳定汇市的坚定意志和政策 ...

据 中央纪委国家监委网站24日消息， 西藏自治区人大常委会党组副书记、副主任王峻涉嫌严重违纪违 法，目前正接受中央纪委国家监委纪律审查和监察调查。 公开简历显示， 王峻，女，汉族，1964年2月生，甘肃平凉人，在西藏工作多年，曾任阿里地委委员、 行署副专员， 自治区国土资源厅党组副书记、厅长， 自治区纪委副书记等职， 2018年1月任西藏自治区 人大常委会副主任，至此番被查。 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 F 百万用户都在看 凌晨！全线大涨！美联储，突发警告！ 2026年A股休市安排来了 利好来了！摩尔线程，重磅发布 降息，大消息！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@s ...

12月24日，外交部发言人林剑主持例行记者会。 法新社记者提问，美国贸易代表调查结果称"中国实行了不公平的措施，企图主导半导体产业"，美国拟自2027 年起对中国半导体产业加征关税。中方对此有何评论？ 林剑表示，中方坚决反对美方滥施关税、无理打压中国产业。美方的做法扰乱全球产供链稳定，阻碍各国半导 体产业的发展，损人害己。 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权 , 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 看券商中国 知天下财经 F "我们敦促美方尽快纠正错误做法，以两国元首达成的重要共识为引领，在平等、尊重、互惠的基础上，通过 对话解决各自关切，妥善管控分歧，维护中美关系稳定健康可持续发展。如 ...