Core Viewpoint - Shenzhen Metro Construction Group has taken immediate action in response to unauthorized filming in an underground construction site, emphasizing the importance of safety in metro construction and outlining disciplinary measures against involved parties [1][2]. Group 1: Incident Overview - The incident involved a video filmed in the under-construction tunnel of Shenzhen Metro Line 22, with the construction unit being Shenzhen Metro Construction Group and the design unit being China Railway Design Group [1]. - The photographer, Lin, contacted personnel from China Railway Design Group to arrange the filming without obtaining permission from Shenzhen Metro Construction Group [1]. Group 2: Safety and Accountability - Safety is highlighted as the lifeline of metro construction, and the actions of the involved parties have led to disciplinary measures, including a yellow card warning to China Railway Design Group and a reprimand to China Railway First Group [1]. - Shenzhen Metro Construction Group has mandated accountability for responsible individuals from the involved companies and has provided educational criticism to the filming personnel [1]. Group 3: Future Measures - Shenzhen Metro Construction Group will implement special rectification measures to enhance site management and conduct thorough risk assessments to prevent similar incidents in the future [2].

据第一财经，东方甄选方面确认：俞敏洪已敲定东方甄选接班人， 由新东方教育科技集团副总裁孙进担任东方甄选执行总裁。 ...

Core Viewpoint - The announcement highlights that the closing price of the Guotou Silver LOF fund is significantly higher than its net asset value, indicating a high premium that could lead to substantial losses for investors who invest blindly in such high premium shares [1][3]. Group 1 - The fund's secondary market closing price is 3.116 yuan, which is notably above the net asset value, suggesting potential risks for investors [1]. - The A-class fund share subscription limit is currently set at 500.00 yuan, with plans for future adjustments by the fund manager [3]. - The high premium rate of the fund's secondary market price is not sustainable, warranting investor caution [3]. Group 2 - The latest net asset value of the fund is 1.8527 yuan, with a discount rate of -68.19%, indicating a significant disparity between market price and net value [4]. - The fund has recorded a one-year return of 110.30%, reflecting strong performance despite the current pricing situation [4]. - Trading volume for the fund is reported at 207.9 million, with a notable decrease in average trading volume [4].

Core Viewpoint - The article discusses the new policies implemented by Beijing's housing authorities aimed at optimizing and adjusting real estate regulations to better meet the housing needs of residents, effective from December 24, 2025 [1][2][3]. Group 1: Housing Purchase Policy Adjustments - The policy relaxes home purchase conditions for non-Beijing residents, reducing the social security or tax payment duration required for purchasing properties within the Fifth Ring from 3 years to 2 years, and for properties outside the Fifth Ring from 2 years to 1 year [1]. - Families with two or more children are allowed to purchase additional properties, with Beijing residents permitted to buy up to three homes within the Fifth Ring, while non-Beijing families with two years of social security or tax payments can buy two homes [1]. Group 2: Housing Loan Policy Changes - The minimum down payment for second home purchases using public housing funds is reduced from 30% to 25% [2]. - Financial institutions are instructed to no longer differentiate between first and second home loans in their interest rate pricing, allowing for a more flexible approach based on market conditions and individual risk assessments [1]. Group 3: Real Estate Development Process Optimization - The policy aims to enhance the business environment and improve investment efficiency in real estate by changing the project approval process from city-level to district-level registration for land acquisition [3].

Core Viewpoint - The article discusses the launch of the Commercial Aerospace Industry Alliance Fund at the Third China Commercial Aerospace Development Conference, highlighting the growth and investment opportunities in the commercial aerospace sector in China [4]. Group 1: Fund and Investment - The fund has an initial issuance scale of 1 to 2 billion, with a long-term goal of expanding to 10 billion, and a duration of 10 years, aiming for approximately 70% project exit [4]. - Investment directions focus on four key areas: low Earth orbit satellite constellations and satellite internet, reusable launch vehicles and rocket launch services, new materials and devices for commercial aerospace, and space resource development and emerging space services [4]. Group 2: Launch Statistics and Projections - As of November, the global average monthly launches exceed 26, indicating a shift to a "weekly launch era," with an expected total of over 320 launches for the year, setting a historical record [4]. - Currently, there have been 325 space launches globally, with 4,026 spacecraft in orbit, including 87 launches from China (84 successful), and 23 missions executed by private commercial rocket companies, placing 324 spacecraft into orbit [4]. Group 3: Future Missions and Technological Developments - The China Manned Space Engineering Office has announced plans for four missions in 2026, including the Tianzhou-10 and Shenzhou-23 and 24 missions, with the Mengzhou-1 mission set to use the Long March 10A reusable rocket for the first time [5]. - The Long March 10B reusable rocket is expected to achieve its first flight conditions by April 2026 [5]. - The recent launch of the Long March 12A rocket provided key engineering data for future recovery of rocket stages, despite not achieving the recovery goal in this mission [5]. Group 4: Low Earth Orbit Satellite Internet Development - China’s low Earth orbit satellite internet construction is entering a new phase of intensive deployment, with major companies like Xingwang Group and Yuanxin Satellite planning large-scale satellite tenders in 2026 [6]. - This round of tenders is expected to significantly increase satellite demand and drive collaborative development across the entire industry chain, from rocket to satellite manufacturing and payload support [6]. - East Wu Securities predicts that commercial rockets will transition from a phase of quantity to quality by 2026, marking the beginning of a new era of rocket recovery in China, with a "supply-demand resonance" expected to drive rapid expansion in the aerospace industry [6].

Core Viewpoint - The People's Bank of China and eight other departments issued opinions to support the construction of the new land-sea corridor in the western region, emphasizing the exploration of digital financial international cooperation [1] Group 1: Digital Financial Cooperation - The opinions propose supporting provinces along the corridor to participate in multilateral central bank digital currency bridge projects [1] - There is a push to promote cross-border payments using central bank digital currencies with countries such as Thailand, Hong Kong, the UAE, and Saudi Arabia [1] - The initiative includes exploring a pilot program for cross-border payments of digital renminbi between the mainland and Singapore [1] Group 2: E-commerce and Digital Services - The opinions encourage provinces with conditions to build cross-border e-commerce digital service platforms [1] - There is a focus on connecting with cross-border e-commerce and trade digital platform companies in countries like Singapore to enhance cross-border e-commerce service capabilities [1]

据北京日报，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。"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。 如果美方一意孤行，中方必将坚决采取相应措施，维护自身正当权益。 "林剑说。 ...

今日A股市场震荡拉升，沪指高开高走，深成指、创业板指均涨近1%。沪深两市成交额1.88万亿，较上一个交易日缩量196亿。 市场概况 2897 966 792 226 200 128 85 124 86 27 9 11 6 小于 大于 涨停 -6% 跌停 +8% +6% +4% +2% 0% -2% -4% -8% -8% +8% 下跌 1137家 上涨 4128家 持平 200家 涨停 86家 停牌 14家 跌停 6家 两市成交额: 1.88万亿 市场热度: 69 0 较上一日: - 196亿 今日预测量能: 50 0 100 1.88万亿 -196亿 下载财联社APP获取更多资讯 准确 快速 权威 专业 7x24h电报 头条新闻 VIP资讯 实时盯盘 盘面上， 市场热点轮动较快，全市场超4100只个股上涨 。从板块来看， 商业航天概念持续爆发 ，20余只成分股涨停，神剑股份5连板，国机精工4 天3板，上海港湾、九鼎新材、再升科技涨停。算力硬件概念拉升，环旭电子6天3板，英唐智控20cm涨停。福建板块走强，安记食品7天4板，合兴包 装3连板。PCB概念快速拉升，生益科技涨停创历史新高。 下跌方面，贵金属、保险 ...

Group 1 - The core viewpoint of the article is that the semiconductor wafer foundry industry is about to enter a new round of price increases, primarily driven by demand for BCD process technology [1][2] - SMIC has notified downstream customers of a price increase of approximately 10%, particularly affecting the 8-inch BCD process platform [1] - Other foundries, such as World Advanced (VIS), are also expected to follow suit with similar price increases, indicating a broader trend in the industry [1][2] Group 2 - The price increase is attributed to several industry factors, including a surge in AI infrastructure investment, which requires a significant number of power chips, thus consuming much of the BCD capacity [3] - TSMC's reduction of 8-inch capacity in favor of high-end processes has created a supply gap, further contributing to the price hikes [3] - The high prices of metals like gold and copper are also impacting foundry pricing [3] Group 3 - The article mentions that high-voltage CMOS (HV-CMOS) is expected to be the next target for price increases as demand for BCD is currently high [3] - Domestic foundries such as SMIC, Huahong Semiconductor, and others are focusing on improving average selling prices and expanding BCD capacity, which is one of their more profitable technology platforms [4] - Companies like Chipone Integrated Circuits are experiencing supply shortages in high-end applications, while also maintaining stable prices and potential for price increases in their products [4]

今年以来，随着白银价格不断攀升，而原油价格跌跌不休， "银比油贵"这一罕见的现象时隔45年再次出现。有分析师警告称，这对经济而言或许是 不祥之兆。 最新行情数据显示，周三亚盘，现货白银首次站上72美元/盎司关口，今年累涨超43美元，涨幅接近150%。而当前，国际油价交投在60美 元/桶附近。 剑桥大学的政治经济学家、约翰内斯堡高级研究所的高级研究员约翰·拉普利（John Rapley）周二在英国深度评论网站UnHerd上发表了题 为《白银暴涨或引发八十年代式经济衰退》（Silver boom could lead to Eighties-style recession）的文章。他解释了银价本轮暴涨的根 本逻辑，并提醒人们警惕可能随之而来的灾难性后果。 Rapley在文章中表示，尽管白银涨势已经持续了一段时间，但今年的两个关键节点，令这波涨势驶入了快车道。首先是美联储主席鲍威尔8 月在杰克逊霍尔全球央行年会上的讲话，释放出美联储将转向更宽松货币政策的信号。其次是纽约联储主席威廉姆斯11月的讲话，为美联储 12月降息铺平了道路。在两人讲话间隔期间，白银上涨了25%；而在威廉姆斯讲话后的短时间内，白银又飙升了40% ...