Meta Platforms(US:META) Xin Lang Cai Jing·2025-12-31 00:19Market Data - As of December 30, the Shanghai Composite Index fell by 0.16 points, closing at 3965.12 points; the Sci-Tech Innovation 50 Index rose by 1.01% to 1359.87 points; the Shenzhen Component Index increased by 0.49% to 13604.07 points; and the ChiNext Index gained 0.63% to 3242.9 points [1] - U.S. stock markets experienced slight declines, marking a third consecutive day of losses, with the Dow Jones down by 0.2%, the S&P 500 down by 0.14%, and the Nasdaq down by 0.24% [1] - International oil prices saw a minor drop, with light crude oil futures for February 2026 closing at $57.95 per barrel, down by $0.13 (0.22%), and Brent crude oil futures for February closing at $61.92 per barrel, down by $0.02 (0.03%) [1] Economic Policies - The National Development and Reform Commission (NDRC) and the Ministry of Finance have allocated 625 billion yuan in special government bonds to support a consumption upgrade program for replacing old consumer goods [2] - The NDRC has issued a notice regarding a large-scale equipment update and consumer goods replacement policy for 2026, which includes subsidies for energy-efficient home appliances, providing 15% of the product price as a subsidy, capped at 1500 yuan per item for eligible consumers [3][4] - The 2026 policy has revised the subsidy standards, removing certain appliances from the subsidy list and lowering the maximum subsidy for energy-efficient products from 2000 yuan to 1500 yuan [3] - A new tax policy effective January 1, 2026, will reduce the value-added tax rate on the sale of residential properties held for less than two years from 5% to 3%, thereby lowering the tax burden on property sales [4] Industry Developments - The Central Rural Work Conference has outlined plans to stabilize grain and oil production, enhance farmland protection, and promote rural income growth [5] - The Ministry of Industry and Information Technology has released a digital transformation implementation plan for the automotive industry, aiming for over 95% adoption of R&D tools and a 10% increase in labor productivity by 2027 [5] - Changxin Technology's IPO application has been accepted by the Shanghai Stock Exchange, with a planned fundraising amount of 29.5 billion yuan [5] - Beijing Zhiyuan Huazhang Technology Co., Ltd. has initiated its IPO process in Hong Kong, with an expected market value exceeding 50 billion HKD [6]