Group 1 - The revised Public Security Administration Punishment Law will take effect on January 1, 2026, and has garnered significant attention from media and the public regarding Article 136 [4][5] - The law's revision process included public consultations during its initial and second readings in August 2023 and June 2024, respectively, with specific provisions for sealing records of minor offenders [5][6] Group 2 - The law's provisions for sealing public security violation records apply to minors, covering various types of violations [5] - The law aims to address public concerns and clarify the implications of sealing records for individuals involved in minor offenses [4][5] Group 3 - The law's revisions reflect a broader trend in legal reforms aimed at balancing public safety with the rehabilitation of young offenders [5][6] - The law's implementation is expected to influence public perception and legal practices surrounding juvenile offenses in China [4][5]

Group 1 - The revised Public Security Administration Punishment Law will take effect on January 1, 2026, with a focus on sealing records of minor offenses, particularly for minors [2][3] - The law aims to prevent the lifelong consequences of a single punishment, providing a framework for sealing minor offense records, which will still be recorded but not publicly accessible [4][5] - The law clarifies the relationship between the Public Security Administration Punishment Law and the Criminal Law, stating that criminal acts must be prosecuted under criminal law, while non-criminal acts are subject to administrative penalties [6][7] Group 2 - The sealing of drug-related records is included in the law, emphasizing that drug use is treated as a violation rather than a crime, with a strong focus on rehabilitation and prevention of drug abuse [8][9] - The government has established a comprehensive system for drug rehabilitation, including voluntary and mandatory rehabilitation measures, and emphasizes the importance of confidentiality regarding the personal information of drug users [9][10] Group 3 - The law has received no objections since its announcement on June 27, 2025, indicating broad acceptance and support from the public [3][4] - The law's provisions are designed to ensure that all citizens are treated equally under the law, reinforcing the principle of equality before the law [2][5]

【头条要闻】 央行：要继续实施适度宽松的货币政策，加大逆周期和跨周期调节力度 据央行网站24日消息，中国人民银行货币政策委员会2025年第四季度（总第111次）例会于12月18日召 开。 再提"维护资本市场稳定"！央行召开重要会议 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。 12月份MLF延续净投放 分析称不排除一季度实施降准的可能 12月24日，中国人民银行发布2025年12月份中期借贷便利（MLF）招标公告显示，为保持银行体系流 动性充裕，12月25日，中国人民银行将以固定数量、利率招标、多重价位中标方式开展4000亿元MLF 操作，期限为1年期。 Wind资讯数据显示，12月份有3000亿元MLF到期，因此中国人民银行开展4000亿元MLF操作后，将实 现净投放1000亿元，这也是中国人民银行连续第10个月加量续做MLF。此外，中国人民银行本月还通 过买断式逆 ...

12月24日，东方甄选股价上涨0.67%，收盘价为18.07港元，较年初下跌0.5%。2025年，东方甄选股价呈 现剧烈震荡走势，根据数据，东方甄选股价全年最大振幅超430%，2025年最高价为53.70港元（8月19 日），最低价为10.12港元（4月7日），反映出市场对公司"去主播化"转型路径的高度分歧与情绪化博 弈。 回顾2024年7月25日，董宇辉宣布离职并独立运营"与辉同行"，次日东方甄选股价暴跌23%，市值蒸发 约30亿港元，股价一度跌至8.92港元的历史低点。今年11月6日，俞敏洪官宣孙东旭因"个人原因"离 职。次日，东方甄选股价下跌6.53%。但与2024年董宇辉离职时的单日23%跌幅相比，此次下跌幅度明 显收窄。 【深圳商报讯】（记者 周良成）12月24日，在原CEO孙东旭离职一个半月后，东方甄选（1797.HK）确 认新任掌舵人：新东方教育科技集团副总裁、广州学校校长孙进将出任东方甄选执行总裁。 ...

Group 1 - The U.S. stock market indices collectively rose, with the Dow Jones increasing by 0.6%, the S&P 500 by 0.32%, and the Nasdaq by 0.22%, marking a five-day consecutive gain for all three indices [5] - Major technology stocks showed mixed performance, with Apple, Microsoft, Netflix, Amazon, and Meta slightly up, while Google, Nvidia, Tesla, and Intel experienced slight declines [5] - The Nasdaq Golden Dragon China Index fell by 0.07%, with mixed results for Chinese concept stocks; Zhihu rose nearly 2%, while Pinduoduo and Yum China increased over 1%, and Kingsoft Cloud and iQIYI dropped over 1% [5] Group 2 - The People's Bank of China announced a 400 billion yuan MLF operation to maintain liquidity in the banking system, with a one-year term set for December 25 [13] - The central bank also conducted a 260 billion yuan reverse repurchase operation with a rate of 1.4%, resulting in a net withdrawal of 208 billion yuan due to the maturity of 468 billion yuan in reverse repos [13] Group 3 - The Chinese government released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)," effective from February 1, 2026, aimed at attracting foreign investment in advanced manufacturing, modern services, high-tech, and energy-saving sectors [10] - The directory is part of a broader strategy to guide foreign investment towards the central and western regions of China [10] Group 4 - Beijing announced adjustments to its housing purchase policies, allowing non-local families to buy homes in the city under new conditions related to social insurance or income tax payments [15] - The new policy aims to facilitate home purchases for families with multiple children, allowing them to buy an additional property within the city limits [15] Group 5 - Ningde Times' lithium mine in Yichun is expected to resume production around the Spring Festival, which is significant for securing lithium resource supply for the battery industry and the new energy vehicle sector [21] - The mine had been suspended since August due to the expiration of its mining license [21] Group 6 - BYD and Volcano Engine announced a deep collaboration in the smart cockpit sector, integrating large models into BYD's DiLink system across multiple vehicle brands [22] - This partnership is expected to enhance user experience and product competitiveness in the automotive market [22] Group 7 - Chang'an Automobile refuted claims of significant asset loss due to alleged improper auctioning of scrap materials, stating that the information circulating online is false and has negatively impacted the company's reputation [24] - The company plans to take legal action against those spreading false information [24] Group 8 - The University of Tsinghua issued a statement addressing the spread of false enrollment information by unauthorized entities, emphasizing that all official admissions information will be published through their official channels [26] - This move aims to protect the university's reputation and ensure the integrity of the admissions process [26] Group 9 - Lynk & Co addressed concerns regarding water leakage in the trunk of the 10EM-P model, stating that the issue is rare and occurs only under specific conditions, assuring customers that it does not affect vehicle safety [28] - The company is implementing additional services to alleviate customer concerns [28] Group 10 - Youbixuan announced plans to acquire a controlling stake in Fenglong Co., a listed company, for approximately 1.665 billion yuan, marking a significant move in the humanoid robot sector [32] - This acquisition is expected to strengthen Youbixuan's position in the smart manufacturing industry [32]

每经编辑｜张喜威 王晓波 ↓ 今日有3000亿元1年期MLF到期 2 2025粤港澳大湾区低空经济高质量发 于12月25日在广州举办 (3)第十六届物联网产业与智慧城市发展ʻ 12月25日举办 2 金融支持加快西部陆海新通道建设 八部门联合发布21条举措 近日，中国人民银行、国家发展改革委、财政部、交通运输部、商务部、金融监管总局、中国证监会、国家外汇局联合印发《关于金融支持加快西部陆海新 通道建设的意见》（以下简称《意见》）。《意见》从完善金融组织协作体系，构建高质量资金融通体系，推进制度性改革创新，建设数字金融服务平台， 完善金融开放合作体系，深化跨省跨境金融监管协作等方面提出21条重点举措，推动发挥好"融资"和"结算"两项金融核心功能，支持西部陆海新通道高质量 发展。（央视新闻） 1 隔夜市场 美股三大指数集体收涨，均录得日线5连涨，道指涨0.6%，标普500指数涨0.32%，纳指涨0.22%，其中，标普500指数、道指均创收盘历史新高；大型科技 股涨跌不一，苹果、微软、奈飞、亚马逊、Meta等小幅上涨；谷歌、英伟达、特斯拉、英特尔小幅下跌。纳斯达克中国金龙指数微跌0.07%，中概股涨跌不 一，知乎涨近 ...

公开信息显示，孙进2006年加入新东方，深耕出国考试培训与学校管理，教学与运营经验丰富。 此前，东方甄选前执行董事、CEO孙东旭因"小作文"风波被免职，董事长俞敏洪兼任东方甄选CEO。今 年11月6日，俞敏洪在个人社交平台发文确认孙东旭离职。 （文章来源：新京报） 新京报贝壳财经讯（记者丁爽）12月24日，有消息称，新东方教育科技集团副总裁、广州学校校长孙进 将担任东方甄选执行总裁。对此，东方甄选方面对记者称，"孙进老师担任东方甄选执行总裁消息属 实。" ...

Group 1 - The new CEO of Dongfang Zhenxuan is expected to be Sun Jin, who is currently the Vice President of New Oriental Education Technology Group and Principal of the Guangzhou School [5] - Sun Jin has nearly 20 years of experience in the industry, having joined New Oriental in 2006 and specializing in overseas examination training and school management [5] - The transition follows the departure of former CEO Sun Dongxu, who was removed from his position due to management issues related to a dispute with a prominent host [5] Group 2 - The interim leadership of Dongfang Zhenxuan was held by Yu Minhong, the Chairman of New Oriental Group, during the search for a new CEO [5] - Yu Minhong expressed the intention to find a successor from within the ranks of New Oriental and Dongfang Zhenxuan, emphasizing the need for a candidate without personal connections [5] - The announcement of the new CEO is anticipated to be made soon, marking a significant leadership change for the company [5]

12月24日，东方甄选股价上涨0.67%，收盘价为18.07港元，较年初下跌0.5%。2025年，东方甄选股价呈 现剧烈震荡走势，根据数据，东方甄选股价全年最大振幅超430%，2025年最高价为53.70港元（8月19 日），最低价为10.12港元（4月7日），反映出市场对公司"去主播化"转型路径的高度分歧与情绪化博 弈。 回顾去年7月25日，董宇辉宣布离职并独立运营"与辉同行"，次日（2024年7月26日）东方甄选股价暴跌 23%，市值蒸发约30亿港元，股价一度跌至8.92港元的历史低点。今年11月6日，俞敏洪官宣孙东旭 因"个人原因"离职。次日（11月7日），东方甄选股价下跌6.53%。但与2024年董宇辉离职时的单日23% 跌幅相比，此次下跌幅度明显收窄。 东方甄选2025财报显示，公司持续经营业务（自营产品及直播电商）净营收由2024财年的65亿元人民币 下降32.7%至2025财年的44亿元人民币。这一下滑主要受出售"与辉同行"业务影响。若剔除该一次性因 素，持续经营业务净营收实际由61亿元下降至42亿元，降幅为30.9%。盈利方面，2025财年持续经营业 务净溢利为620万元人民币，较2024财年 ...

★ 宏观动态 ★ 央行将开展4000亿元MLF操作，期限为1年期 央行公告，为保持银行体系流动性充裕，2025年12月25日，中国人民银行将以固定数量、利率招标、多重价位 中标方式开展4000亿元MLF操作，期限为1年期。 外交部回应美方拟对中国半导体产业征收关税：坚决反对无理打压中国产业 多部门：督促网络交易平台建立产品质量管理制度，及时排查价格明显低于合理区间产品 市场监管总局等部门印发《网售工业产品质量安全专项治理行动方案（2025—2027年）》。其中提出，压实质 量安全主体责任。督促网络交易平台建立产品质量管理制度，将产品质量安全状况纳入合规风险管控清单；鼓 励运用大数据、人工智能等技术手段开展日常巡查，建立重点产品价格信息库，及时排查价格明显低于合理区 间的产品，对价格异常、投诉集中的重点产品提高巡查和抽检频次；对存在质量违法违规行为的高风险商家， 依法及时采取下架商品、闭店、封号等处置措施。定期组织开展产品质量安全合规指导培训，加强重点产品政 策法规和质量安全知识宣贯。 八部门：支持探索推进内地与新加坡数字人民币跨境支付试点 中国人民银行等八部门联合发布《关于金融支持加快西部陆海新通道建设的意见 ...