事关A股！重要调整，明日生效！

Index Adjustments - The Shenzhen Stock Exchange announced sample adjustments for several indices, including the Shenzhen Component Index and the ChiNext Index, effective December 15, 2025. The Shenzhen Component Index will replace 17 stocks, including 7 from the main board and 10 from the ChiNext [2] - The ChiNext Index will replace 8 stocks, with new additions including Shuanglin Co., Changshan Pharmaceutical, and Fulian Precision [2] - The CSI 300 Index will replace 11 stocks, with new entries such as Guolian Minsheng and Guangqi Technology, while removing stocks like FAW Jiefang and Oppein Home [3] - The CSI 500 Index will replace 50 stocks, including Dongfang Yuhong and Heertai, while removing stocks like China Great Wall and Semir Garment [3] - The CSI 1000 Index will replace 100 stocks, with new additions including Fenghua High-Tech and Shijia Photon [3] - The CSI A50 Index will replace 4 stocks, including Zhongji Xuchuang and Huagong Technology, while removing stocks like ZTE and Shanghai Airport [4] - The CSI A100 Index will replace 6 stocks, with new entries such as Dongfang Fortune and Huagong Technology, while removing stocks like Shanghai Airport and CITIC Securities [4] - The CSI A500 Index will replace 20 stocks, including Zhongtian Technology and Genesis [4] Economic Policies - The Central Economic Work Conference indicated that China’s economic indicators for 2025 are expected to exceed expectations, with a projected GDP of around 140 trillion yuan. Incremental policies will be introduced in 2026 based on changing circumstances [6] - The Ministry of Commerce, the People's Bank of China, and the Financial Regulatory Bureau issued a notice to enhance collaboration between commerce and finance to boost consumption, outlining 11 policy measures [7] - The Ministry of Finance emphasized the need for fiscal policies to support investment stabilization, including the issuance of long-term special bonds and optimizing local government bond usage [8] Financial Market Updates - The People's Bank of China announced a continuation of moderately loose monetary policy, focusing on stabilizing economic growth and ensuring liquidity [10] - Social financing (社融) increased by 33.39 trillion yuan in the first 11 months of 2025, with a year-on-year growth rate of 8.5% [11] - The Financial Regulatory Bureau stressed the importance of risk prevention and supporting the stability of the real estate market [12] Market Strategies - CITIC Securities suggested focusing on both domestic and foreign demand, indicating a shift in investor sentiment towards domestic consumption [18] - Zhongxin Jian Investment noted that the market has completed its adjustment phase and anticipates a new wave of market activity, particularly in sectors like non-ferrous metals and AI computing [19] - Guotai Junan recommended a balanced asset allocation strategy, emphasizing the importance of risk management amid potential market volatility [20]