云南农信系统再掀反腐风暴！ 12月19日晚间，据"清风云南"消息，云南楚雄市农商银行原党委书记、董事长郑晓燕涉嫌严重违纪违法，目前 正接受纪律审查和监察调查。 至此，10月起，云南农信系统已有4人官宣被查，包括3家农信机构原掌舵人、1名省联社部门负责人。 四季度4人被查 公开信息显示，郑晓燕曾任云南楚雄市农信联社主任，并在2018年楚雄市农商银行改制开业后担任行长一职， 后升任该行党委书记、董事长，直至2021年卸任。 据了解，楚雄辖内合计有10家农信机构，包括7家农商行、3家县级联社。今年2月，云南省联社楚雄办事处原 党委委员、副主任陈永岗还因涉嫌严重违纪违法被查。 除郑晓燕外，今年10月以来，云南农信系统还有3名干部被查，包括： 10月8日，云南省联社运行管理部原总经理宋文斌涉嫌严重违纪违法，接受省纪委监委驻省农信社纪检监察组 纪律审查，及宣威市监委监察调查。 10月31日，云南省联社丽江办事处原党委书记、主任刘国红涉嫌严重违纪违法，接受省纪委监委驻省农信社纪 检监察组纪律审查，及宣威市监委监察调查。 12月12日，昆明市农信联社原党委副书记、理事长黄凤仪涉嫌重大职务犯罪漏罪，接受富源县监委监察调查。 其 ...

Core Viewpoint - The market is witnessing a significant shift in capital flow towards the CSI A500 ETF, indicating a strategic move by institutional investors to protect returns as the year-end approaches, favoring low-valuation sectors over high-valuation technology stocks [1][7]. Group 1: Market Activity and Fund Flows - As of December 19, the CSI A500 ETF has surpassed the CSI 300, becoming the index with the highest net inflow of funds since December, with a total inflow exceeding 460 billion yuan [2][4]. - The trading activity of the CSI A500 ETF has surged since December 10, with daily trading volumes consistently breaking through 300 billion yuan, reaching a peak of 525.76 billion yuan on December 19 [3][4]. - The total scale of the CSI A500 ETF has exceeded 240 billion yuan, contributing to a total fund scale of over 300 billion yuan across various fund products [4]. Group 2: Institutional Investment Trends - Institutional investors are increasingly using broad-based index products to enter the market, with insurance funds potentially bringing in over 100 billion yuan in new capital due to policy changes [5]. - There is a notable trend of resident funds moving towards equity markets, driven by low interest rates and the need for better returns, with the average yield of equity mixed funds reaching 28.18% year-to-date [6]. Group 3: Investment Strategy Shifts - As the year-end approaches, institutional funds are shifting their focus from high-growth technology sectors to more balanced investments, indicating a "high-low switch" in strategy [7]. - Analysts predict that 2026 will see a more balanced market, with opportunities in cyclical industries and high-return sectors, as well as continued interest in innovative fields like AI and renewable energy [8].

芯片领域，传来一则重磅消息：日前，三星电子正式推出Exynos 2600系统芯片，这是全球首款采用2纳米工艺 打造的移动应用处理器。值得关注的是，三星电子已开始量产该新型芯片，并计划将其搭载于明年2月推出的 旗舰智能手机Galaxy S26。 根据公开资料，Exynos 2600将CPU、NPU与GPU集成于紧凑芯片之中，为用户带来了增强的AI与游戏体验。 该芯片内置32K MAC NPU，相较上一代Exynos 2500，AI算力提升高达113%。 有业内人士分析称，若Exynos 2600市场表现良好，三星的代工业务复苏也将加速，并有望在2027年扭亏为 盈。 2nm手机芯片诞生 三星电子12月19日正式发布其最新一代旗舰移动处理器Exynos 2600，这是三星首款采用2纳米GAA（环绕栅 极）工艺打造的智能手机SoC，也是全球首款采用2纳米工艺打造的移动应用处理器。 这款芯片由三星电子设备解决方案事业部下属的系统LSI业务部门设计，通过三星自营的晶圆厂制造。公开资 料显示，Exynos 2600采用全新三丛集CPU设计，包含1颗主频高达3.8GHz的Cortex-C1 Ultra超大核、3颗 3.25 ...

Core Viewpoint - The former Japanese Prime Minister Shigeru Ishiba stated that Japan's possession of nuclear weapons "will never bring positive effects" to the country [1][2]. Group 1: Nuclear Weapons Debate - A senior official from the Japanese Prime Minister's office suggested that Japan should possess nuclear weapons due to the increasingly severe security environment surrounding the country [2]. - Ishiba emphasized that if Japan were to acquire nuclear weapons, it would have to withdraw from the Treaty on the Non-Proliferation of Nuclear Weapons and the International Atomic Energy Agency, complicating Japan's nuclear energy policy [1][2]. - The remarks from the official faced strong criticism from various sectors, including former Defense Minister Gen Nakatani, who stated that government representatives should not make such personal opinions publicly [2]. Group 2: Political Reactions - The leader of the Komeito party, Tetsuo Saito, expressed shock and anger at the timing of the remarks, coinciding with the 80th anniversary of the atomic bombings in Hiroshima and Nagasaki, asserting that nuclear weapons would isolate Japan diplomatically and worsen its security environment [2]. - Chinese Foreign Ministry spokesperson Guo Jiajun warned that if the reports were true, it would indicate a serious situation and expose dangerous intentions from certain Japanese individuals to breach international law and acquire nuclear weapons [2].

美国，传出多则新消息！ 日前，有美媒爆料称，特朗普政府正在解雇一批由前总统拜登任命的职业外交官，此举十分罕见。报道称，这 是特朗普任内对外交系统进行的又一次重大人事调整。 来看详细报道！ 美国外交系统"大地震" 12月21日消息，据环球网援引美国"政治"新闻网19日报道，一名熟悉情况的国务院官员透露，特朗普政府正在 解雇一批由前总统拜登任命的职业外交官。这名国务院官员表示，约有24名驻外大使接到通知，要求他们离 任。这些大使均为职业外交官，此举因此显得十分罕见。 报道称，美国全球外交服务协会主席约翰·丁克尔曼证实，协会已收到多位大使的报告，称他们接到电话通 知，被要求在明年1月15日或16日前离任，但未被告知具体原因。丁克尔曼表示，他尚未掌握被召回大使的确 切总数。 丁克尔曼认为，这将损害美国的外交地位，"这进一步削弱了人们对职业外交官有效执行美国外交政策能力的 信心"。美国国务院则在一份声明中坚称，召回是"任何一届政府的标准程序"。声明称："大使是总统的私人代 表，总统有权确保他在这些国家拥有能够推进'美国优先'议程的人员。" "政治"新闻网指出，这是特朗普任内对外交系统进行的又一次重大人事调整。尤其不寻常 ...

Core Viewpoint - The Chinese futures market has reached significant milestones with both total market funds and client equity surpassing 2 trillion yuan, marking a growth of over 30% compared to the end of 2024, particularly driven by insurance institutions [1][3]. Group 1: Market Growth and Performance - The total trading volume in the national futures market for the first 11 months of the year reached 8.117 billion contracts, with a cumulative transaction value of 67.5 trillion yuan, reflecting year-on-year increases of 14.74% and 20.19% respectively [2][3]. - The client equity in the futures market has doubled from 1 trillion yuan in February 2021 to over 2 trillion yuan by December 2025, indicating a robust expansion in client base, with effective client numbers exceeding 2.7 million, a 14% increase from the same period in 2024 [4][6]. Group 2: Role of Insurance Institutions - Insurance institutions have shown the most significant growth in client equity, with their participation in the futures market increasing approximately twofold compared to the end of 2024, driven by policies encouraging long-term capital investment [5][6]. - The number of new accounts opened by insurance funds in the futures market increased by 166% year-on-year in the first 11 months of 2025, setting a historical record for effective account growth [6]. Group 3: Market Functionality and Structure - The continuous inflow of funds into the futures market is attributed to the recognition of its role in serving the real economy, particularly in risk management, enhanced by the implementation of policies promoting long-term capital market participation [5][6]. - The diversification of futures and options products has improved market depth and functionality, making the futures market increasingly attractive to long-term capital, including insurance funds, which enhances liquidity and price discovery [5][6].

第二届未来运动会17日至23日在阿联酋阿布扎比举行。 中国俱乐部自主设计制造的机器人深海巨鲨3参加了格斗机器人大赛，并在决赛中击败国外俱乐部获 得冠军 。 总台记者 王政： 我身旁就是深海巨鲨3机器人。机器人重110公斤，最高时速28公里。转速高达每分钟1万转。这是机器人进攻的武器，这个红色部分是来 防御对方机器人的攻击。 深海巨鲨3机器人针对格斗机器人恶劣的工作环境，团队都做了相应的设计，保证机器人完好运转。 中国俱乐部领队 齐文杰： 机器人里边的电路系统工作时，处于非常恶劣的环境。在机器人对抗中，它经常会出现非常严重的堵转。这种情况导致电机里面的 电流突然升高，很容易导致损坏。这是目前格斗机器人领域非常容易出现的问题。针对这个问题，我们跟供应商合作开发了一个算法，在机器人出现堵转过 载的情况下，及时遏制电流突增，保护整个电路系统正常工作。 除了用算法保护电路系统，团队还利用模块化的设计保证机器人在短时间内可以修复。 中国俱乐部领队 齐文杰： 因为这个机器人本身的工作环境非常恶劣，所以它在对抗的过程中，很有可能某一部分发生损伤。把内部的单元做成模块化之后， 能极大提高我们更换内部零件的速度。 责编：刘珺宇 ...

Core Viewpoint - The emergence of China's first L3 autonomous driving license plate marks a significant step towards the commercialization of L3 autonomous driving technology, with Changan Automobile leading the way in this development [1][2]. Group 1: L3 Autonomous Driving License and Models - On December 20, the first L3 autonomous driving license plate "渝AD0001Z" was awarded to Changan Automobile in Chongqing, indicating the start of the L3 autonomous driving era in China [2]. - The Ministry of Industry and Information Technology (MIIT) announced the first batch of L3 autonomous vehicle approvals on December 15, allowing Changan's Deep Blue SL03 and Arcfox Alpha S6 to conduct pilot tests in designated areas of Beijing and Chongqing [3]. - Changan's L3 autonomous driving system has undergone over 5 million kilometers of testing on complex roads in Chongqing, with the license plate to be installed on Deep Blue vehicles for pilot operations [2][4]. Group 2: Industry Implications and Future Outlook - Longjiang Securities stated that China has become the second country after Germany to officially permit L3 autonomous driving, indicating a new phase of mass production and application for intelligent connected vehicles [5]. - The approval of L3 models is expected to accelerate the development of a regulatory framework and standards for intelligent connected vehicles, enhancing the commercialization of autonomous driving technology [5][6]. - The gradual commercialization of L3 autonomous driving is anticipated to create opportunities for incremental components, with a focus on technologies such as detection systems and driving assistance data recording systems [6].

12月19日，国家金融监督管理总局贵州监管局发布多条批复，同意贵州银行一名副行长、两名独立董事、一名董事的任职 资格，包括副行长向东海，独立董事许亮、张俊杰，董事张砚。 董事会成员调整渐次落地 高管层呈"一正五副"架构 资料显示，向海东现年51岁，在加入贵州银行前，向东海供职于农行体系。2017年6月，向海东获准出任农业银行毕节分行副 行长；2022年，向东海以农业银行贵州省分行国际金融部总经理的身份出席公开活动。 2025年6月，贵州省人民政府发布职务调整通知，推荐向东海为贵州银行副行长人选。贵州银行2025年半年报显示，贵州银行 董事会早于6月底批准向东海的副行长职务，但此前，其任职资格尚待监管核准。 本次向东海正式履职后，贵州银行高管队伍将有8名成员，呈现"一正五副"架构：行长吴帆、五位副行长分别为胡良品、安 鹏、覃伟、李健、向东海，以及董事会秘书周贵昌、合规总监焦正俊。 除向东海外，贵州银行行长吴帆、"80"后副行长李健二人的任职资格同于年内获批。其中，吴帆为该行首任女行长。 资料显示，吴帆现年57岁，是有着丰富从业经验的金融女将。加入贵州银行前，吴帆曾在建设银行系统工作超20余年，历任 贵州省分行国 ...

当地时间12月20日，美国司法部再度公开两批与杰弗里·爱泼斯坦相关的法院文件，其中包括部分大陪审 团庭审记录，以及其本人和同案被告吉斯兰·麦克斯韦过往案件的司法文书。 百万用户都在看 "黑天鹅"突袭！刚刚，全线大跌！ 利好来了！摩尔线程，重磅发布！ 美军，大规模空袭！ 集体大涨！特朗普，刚刚签了！ 降息，大消息！美联储，重磅传来！ 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 。 此次公布的文件中，至少有550页内容被完全涂黑，无法读取。其中一组连续三份文件共255页全部被整 页遮挡，另有一份标注为"纽约大陪审团"的119页文件同样全数涂黑。此外，还有至少180 ...