周末大利好！证监会主席重磅发声，美国将调整对华经济关系，商业航天发酵

Group 1 - The Financial Regulatory Administration has lowered the stock investment risk factors for insurance companies to support a stable and active capital market, with specific adjustments for different holding periods of stocks [1][9] - The China Securities Regulatory Commission (CSRC) plans to relax regulations for quality institutions, optimizing risk control indicators and moderately increasing capital space and leverage limits [1][3] - The first domestic GPU company, Moore Threads, has been listed on the Sci-Tech Innovation Board [1][9] Group 2 - The CSRC Chairman emphasized the need for A-shares to achieve reasonable growth in quantity and effective improvement in quality, advocating for a shift from price competition to value competition [3][10] - A draft for the "Performance Assessment Management Guidelines for Fund Management Companies" has been released, requiring higher investment ratios from executives and fund managers, with performance pay linked to fund performance [4][10] Group 3 - The new U.S. National Security Strategy indicates a shift in the economic relationship between the U.S. and China towards a more reciprocal and equitable basis, aiming to restore U.S. economic autonomy [5][11] - The technology sector is positioned as a core engine for high-quality development, focusing on innovation in artificial intelligence and new productive forces, indicating long-term growth potential in this field [6][12] Group 4 - A new drug directory will be implemented starting January 1, 2026, which will replace the current directory and aims to include innovative drugs in commercial health insurance coverage [8][13] - SpaceX is initiating a new round of stock sales for existing investors and employees, with a target valuation of $800 billion (approximately 5.65 trillion RMB) [8][13]