A股巨头大动作。 今晚，A股煤炭巨头中国神华一口气发布了88则公告，其中《中国神华发行股份及支付现金购买资产并募集配套资金暨关联交 易报告书（草案）》显示，公司拟购买国家能源集团及其全资子公司西部能源持有的相关资产，交易价格高达1335.98亿元。 与此同时，中国神华拟与国家能源投资集团按持股比例共同向国家能源集团财务有限公司（以下简称"财务公司"）增资，其 中中国神华增资60亿元。截至12月19日收盘，中国神华总市值超8000亿元。 中国神华深夜公告 12月19日晚间，中国神华发布公告称，拟通过发行A股股份及支付现金的方式购买国家能源集团持有的国源电力100%股权、 新疆能源100%股权、化工公司100%股权、乌海能源100%股权、平庄煤业100%股权、神延煤炭41%股权、晋神能源49%股 权、包头矿业100%股权、航运公司100%股权、煤炭运销公司100%股权、港口公司100%股权，并以支付现金的方式购买西部 能源持有的内蒙建投100%股权。同时，上市公司拟向不超过35名特定投资者发行A股股份募集配套资金。 此次交易价格高达1335.98亿元。本次交易对价的整体股份和现金支付比例分别为30%、70%，其中 ...

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 12月18日，商务部部长王文涛会见美国超威半导体公司（AMD）董事会主席兼首席执行官苏姿丰。双方 就公司在华业务发展、加强对华合作等进行了交流。 百万用户都在看 "黑天鹅"突袭！刚刚，全线大跌！ 利好突袭！A股盘中，集体异动！ 突发！停牌！A股巨头，刚刚公告 集体大涨！特朗普，刚刚签了！ A股，重要调整！ 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 , 来源：商务部新闻办公室 责编：刘珺宇 校对：高源 ...

Core Viewpoint - The article discusses the Chinese government's plans for economic policy implementation in the upcoming year, emphasizing the need for proactive fiscal and monetary policies to ensure a strong start to the 14th Five-Year Plan [2][3]. Group 1: Economic Policy Implementation - The government will continue to implement a more proactive fiscal policy and moderately loose monetary policy in the coming year [2]. - There is an expectation of a mild expansion in fiscal policy, reflected in an increase in fiscal deficit and government debt to support the 14th Five-Year Plan [2]. - The fiscal policy will likely follow the "debt replacement first, then investment" approach, with a coordinated issuance of various types of bonds [2][3]. Group 2: Bond Issuance Plans - Special refinancing bonds worth 2 trillion yuan will be issued in the first and second quarters to alleviate local government hidden debt pressures [3]. - The new special bond quota is expected to reach 5 trillion yuan, with approximately 1.6 trillion yuan allocated for debt clearance and 2.9 trillion yuan for project construction, accelerating in the second quarter [3]. - The issuance of long-term special government bonds may increase to 1.8 trillion yuan, starting in the second quarter, to work in parallel with special bonds [3]. Group 3: Coordination of Fiscal and Monetary Policies - The coordination between fiscal and monetary policies is crucial for enhancing policy effectiveness, with ongoing collaboration between the Ministry of Finance and the People's Bank of China [3]. - The central bank is expected to maintain a reasonable liquidity environment to support the large-scale issuance of government bonds in the new year [3]. Group 4: VAT Law Implementation - The meeting approved the draft implementation regulations for the Value-Added Tax (VAT) Law, emphasizing the need for effective legal support to ensure smooth implementation [4][5]. - The VAT Law, which is set to take effect on January 1, 2026, will maintain the current tax rate structure of 13%, 9%, and 6% [5].

Core Viewpoint - The lithium carbonate market remains hot despite the traditional consumption peak coming to an end, driven by supply disruptions and regulatory developments [1][3]. Group 1: Supply Chain Developments - The environmental impact assessment (EIA) for the Jiangxi Jianxiawo lithium mine has been publicly announced, indicating that the resumption of production is likely to be delayed, which has led to a significant increase in lithium carbonate futures prices, reaching a high of 113,500 yuan/ton [2][3]. - The market's expectation for the mine's short-term resumption has weakened due to the lengthy approval process required for mining operations, reinforcing supply contraction expectations [3]. Group 2: Market Dynamics - Despite a decline in domestic demand from the power and consumption markets, the energy storage sector continues to show strong supply and demand dynamics, maintaining a tight balance in the market [4]. - Overseas mining operations are also supporting lithium prices, with strong pricing trends observed in international markets, particularly with Australian lithium prices exceeding $1,200 [4]. Group 3: Regulatory Actions - In response to the rapid price increase and heightened market activity, the Guangzhou Futures Exchange has announced new trading limits for lithium carbonate futures to mitigate excessive volatility, effective December 23, 2025 [5]. - This regulatory measure aims to curb speculative trading and reflects the exchange's proactive approach to managing market conditions during periods of heightened activity [5].

新华社援引台媒报道，台北车站19日下午5点30分左右发生攻击事件，一名男子戴有防毒面具，在台北车 站出口附近投掷烟雾弹，1人送医时无生命迹象。该名嫌犯随后逃窜至地铁中山站，沿途丢掷烟雾弹，并 持刀砍人。累计9人受伤，其中4人命危。 台北市警方当日表示，台北地铁中山站附近发生持刀砍人案，有民众遭攻击，嫌犯闯入附近百货公司内藏 匿，但根据了解，犯罪嫌疑人疑坠楼轻生，详细案发原因待查。至于坠楼嫌犯是否与稍早台北车站丢掷烟 雾弹案有关，警方仍在查证中。 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 责编：刘珺宇 校对：高源 百万用户都在看 "黑天鹅"突袭！刚刚，全线大跌！ 利好突袭！A股盘中，集体异动！ 突发！停牌！A股 ...

Core Viewpoint - The article discusses the escalating tensions between the United States and Venezuela, highlighting President Trump's threats of potential military action against Venezuela and recent military operations by the U.S. Navy in the region [2][3][5]. Military Actions - On December 18, the U.S. Southern Command reported that the "Southern Sword" joint task force conducted strikes against two vessels identified as terrorist organizations, resulting in the deaths of five individuals [2][3]. - The U.S. military has been actively deploying naval forces in the Caribbean Sea under the pretext of drug enforcement, with multiple operations targeting alleged drug trafficking vessels since early September [3][5]. Air Operations - On December 18, at least five U.S. Navy F-18 fighter jets were tracked flying in the Caribbean, with some flight paths coming within 100 kilometers of Caracas, the capital of Venezuela [4]. - Additionally, two U.S. military aircraft equipped with long-range radar capabilities were present in the area, indicating heightened surveillance and potential operational coordination [4]. Venezuelan Response - Venezuelan President Maduro condemned the U.S. actions, labeling them as acts of piracy and calling for the American public to oppose U.S. military aggression and interference in South America [6][7]. - Maduro emphasized Venezuela's commitment to economic sovereignty and the continuation of international trade, despite U.S. sanctions and military threats [6]. Geopolitical Implications - Analysts suggest that the U.S. military's actions and the rhetoric surrounding them could set a dangerous precedent for regional stability and international maritime security, potentially impacting global oil markets [7].

Core Viewpoint - The article discusses the recent announcement by the Shanghai and Shenzhen Stock Exchanges, in collaboration with China Securities Depository and Clearing Corporation Limited, to support foreign institutional investors in conducting bond repurchase transactions in the exchange market [1][3]. Group 1: Policy Implementation - The announcement is a further implementation of the policies previously issued by the People's Bank of China, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange to support foreign institutions in bond repurchase activities [2][3]. - Foreign institutional investors that meet the requirements outlined in the announcement can engage in bond repurchase transactions in the exchange market [3]. Group 2: Bond Repurchase Business - The bond repurchase business includes both pledge-style agreement repurchase and pledge-style tri-party repurchase, as well as reverse repurchase transactions in the Bond Connect program [3]. - Foreign institutional investors must follow specific procedures, including signing relevant agreements and conducting investor suitability filings before participating in these repurchase transactions [4]. Group 3: Market Attraction - The opening of bond repurchase business is expected to enhance the attractiveness of the Chinese bond market, as the number and scale of foreign institutional investors in this market have been increasing [5]. - Bond repurchase is recognized globally as a widely used liquidity management tool, and its introduction will provide foreign investors with more flexible funding channels, improving capital efficiency and reducing liquidity risks [5][6]. - As of the end of September, the custody balance of foreign institutions in the Chinese bond market reached 3.8 trillion yuan, accounting for 2.0% of the total custody balance, indicating a growing interest in Chinese bonds [6].

为防范和整治拒收人民币现金行为，满足社会公众多样化支付服务需求，中国人民银行、国家发展改革委、金融监管总局 12月19日发布《人民币现金收付及服务规定》（下称《规定》），规范收费单位和经营主体的现金收付行为，督促指导银 行业金融机构优化现金服务并提升现金获取便利度。《规定》将自2026年2月1日起施行。 人民币是我国的法定货币，是法定的商品交换媒介。近年来，央行积极推进现金流通环境建设，持续整治拒收现金。从当前 情况看，全国拒收现金有关投诉显著减少，人民群众的支付方式选择权得到有效保护，"拒收现金违法"的观念深入人心。但 是，经营主体收现意愿下降具有一定普遍性、趋势性，拒收现金行为仍难完全杜绝。 本次《规定》明确要求，除因履行法律法规、规章规定的义务或法定职责而应使用非现金支付工具情形外，不得拒收现金， 不得要求或诱导他人拒收现金，不得对现金支付采取歧视性措施，损害现金支付便利。 在多元支付方式并存的条件下，发挥现金兜底作用，需要相关各方的共识和法律保障。权威人士指出，《规定》旨在进一步 明确各类收费单位、经营主体以及银行业金融机构的现金服务义务，引导规范各相关主体共同建设和维护人民币现金流通使 用环境，保障 ...

俄外交部发言人：日方不负责任的政策威胁地区安全 来源：新华社 责编：刘珺宇 校对：高源 扎哈罗娃在当天举行的俄外交部例行记者会上说，俄方通过外交渠道"系统地"向日方传达了俄方立场，并 对日美12月10日在俄边境附近举行空军演习表示关切。俄方强调，此类在俄方边境附近进行的挑衅性军 事活动是不可接受的。 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 "我们认为这构成对俄罗斯联邦安全的潜在威胁。我们已发出警告将采取相应反制措施，以加强国防能力 并捍卫我们的国家主权。"扎哈罗娃说。 俄外交部官网18日发布通报称，俄罗斯外交部第三亚洲司司长沃罗比约娃当天会见了日本驻俄罗斯大使 武藤显，双方就俄日关系现状、国际问题以及保证两国周边地区安全问题交换了意见。 百万用户都在看 "黑天鹅"突袭！刚刚，全线大跌！ 利好突袭！A股盘中，集体异动！ 突发！停牌！A股巨头，刚刚公告 集体大涨！特朗普，刚刚签了！ A股，重要调整！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 据新华社消息，俄罗斯外交部发言人扎哈罗娃12月18日表示，俄方始终关注日方加速重新军国主 ...

Macro Dynamics - The Ministry of Commerce reported that from January to November 2025, the actual use of foreign capital in China was 693.18 billion RMB, a year-on-year decrease of 7.5% [2] - In November alone, the actual use of foreign capital increased by 26.1% year-on-year [2] - The manufacturing sector attracted 171.72 billion RMB, while the service sector attracted 506.29 billion RMB [2] - High-tech industries received 221.26 billion RMB in foreign investment, with significant growth in e-commerce services (127%), medical instruments (46.5%), and aerospace manufacturing (41.9%) [2] - Notable increases in investment from Switzerland (67%), UAE (47.6%), and the UK (19.3%) were reported [2] Financial Institutions - Changsha Bank announced plans to fully redeem 60 million preferred shares on December 25, 2025, and will suspend trading of these shares on December 24, 2025 [8] Market Data - On December 19, A-shares closed higher, with the Shanghai Composite Index up 0.36% and the Shenzhen Component Index up 0.66% [9] - The total trading volume in the Shanghai and Shenzhen markets was approximately 1.7259 trillion RMB, an increase of about 70.43 billion RMB from the previous trading day [9] - The market saw 4,477 stocks rise and 905 stocks fall, with 82 hitting the daily limit up and 6 hitting the limit down [9] Company Dynamics - ByteDance announced a 35% increase in bonus investment for 2025, along with a 1.5 times increase in salary adjustments and raising the salary package limits for all levels [10] - Zhongyuan Neipei signed a strategic cooperation framework agreement with Ningbo Puzhi for humanoid robot-related business, aiming to become a core supplier for Puzhi's robot joint modules [11] - Vanke A stated that there were no changes in the personal shareholding of its management team [12] - SF Express has opted out of the Douyin e-commerce return service, with logistics services to be taken over by JD, Zhongtong, and YTO [13]