Market Overview - On November 28, 2025, the A-share market saw all three major indices rise, with the Shanghai Composite Index closing at 3888.60 points, up 0.34%. The Shenzhen Component Index closed at 12984.08 points, up 0.85%, and the ChiNext Index closed at 3052.59 points, up 0.70%. Over 4100 stocks rose, with total trading volume in the Shanghai and Shenzhen markets at 1.59 trillion yuan, a decrease of 120 billion yuan from the previous trading day [1] - In Hong Kong, the three major indices showed mixed results, with the Hang Seng Index down 0.34% to 25858.89 points and a total trading volume of 146.204 billion HKD. The Hang Seng China Enterprises Index fell 0.38%, while the Hang Seng Tech Index rose slightly by 0.02%. For the month, the Hang Seng Index decreased by 0.18% [1] - In the US, the stock market closed early on November 28, 2025, with all three major indices rising for the fifth consecutive trading day. The Dow Jones Industrial Average increased by 0.61% to 47716.42 points, the S&P 500 rose by 0.54% to 6849.09 points, and the Nasdaq Composite Index gained 0.65% to 23365.69 points [1] Important News - The People's Bank of China reiterated its commitment to prohibitive policies against virtual currencies during a meeting on November 28, 2025. The bank emphasized the importance of risk prevention in financial work and called for continued efforts to combat illegal financial activities related to virtual currencies. It urged enhanced collaboration among units to improve regulatory policies and monitoring capabilities [4] - The National Bureau of Statistics reported that the manufacturing Purchasing Managers' Index (PMI) for November was 49.2%, an increase of 0.2 percentage points from the previous month, indicating a slight improvement in economic conditions. The PMI for large enterprises was 49.3%, down 0.6 percentage points, while the PMIs for medium and small enterprises were 48.9% and 49.1%, respectively, both below the critical point [4]

转自：智通财经 登录新浪财经APP 搜索【信披】查看更多考评等级 【智通财经12月1日早间新闻精选】 1、中共中央政治局11月28日下午就加强网络生态治理进行第二十 三次集体学习。习近平在主持学习时强调，当前人工智能、大数据等新技术新应用不断涌现，给网络生 态治理带来挑战，也提供新的支持条件。要鼓励网信领域新技术发展，促进研发成果转化和应用场景落 地。要完善分级分类的安全监管机制，筑牢网络安全和数据安全防线。 2、国家统计局11月30日发布数 据显示，11月份，制造业采购经理指数（PMI）为49.2%，比上月上升0.2个百分点，景气水平有所改 善。11月份，非制造业商务活动指数为49.5%，比上月下降0.6个百分点。11月份，综合PMI产出指数为 49.7%，比上月下降0.3个百分点。 3、据国家航天局消息，该局已于近期设立商业航天司，相关业务正 在逐步开展，标志着我国商业航天产业迎来专职监管机构。 4、工信部11月28日组织召开动力和储能电 池行业制造业企业座谈会。工信部部长李乐成指出，加快推出针对性政策举措，依法依规治理动力和储 能电池产业非理性竞争。 5、中国人民银行2025年11月28日召开打击虚拟货 ...

5.当地时间11月30日，美国国务卿鲁比奥在当日举行的美乌新一轮谈判后表示，与乌方的会谈"富有成 效"，但还有很多工作要做。他同时表示，美国政府会在未来一周加强外交努力，美国中东问题特使威 特科夫预计将前往莫斯科进行进一步会谈。 6.11月29日消息，公安部对2018年制定的《公安机关互联网安全监督检查规定》进行修订，起草了《公 安机关网络空间安全监督检查办法（征求意见稿）》，现向社会公开征求意见。主要包括六方面内容： 一是明确监督检查对象。二是明确监督检查方式。三是明确监督检查内容。四是明确监督检查频次。五 是明确检查结果运用。六是明确相关法律责任。 重要的消息有哪些 1.国务院安委会日前印发通知，部署开展高层建筑重大火灾风险隐患排查整治行动，聚焦有人员居住和 活动的高层民用建筑（包括居民住宅建筑和办公、医疗、商业等公共建筑）开展排查整治，特别是正在 进行外墙改造施工和内部局部装修改造的高层民用建筑，全面加强高层建筑消防安全管理，切实保障人 民群众生命财产安全。 2.国家统计局发布数据显示，11月份，制造业采购经理指数（PMI）为49.2%，比上月上升0.2个百分 点，景气水平有所改善。从企业规模看，大型企 ...

人民财讯12月1日电，央行召开打击虚拟货币交易炒作工作协调机制会议；央行、科技部等部门联合召 开科技金融统筹推进机制第一次会议；证监会剑指财务造假，发行人+中介机构被同步追责；工信部： 依法依规治理动力和储能电池产业"内卷式"竞争；11月份我国制造业PMI升至49.2%；国家航天局设立 商业航天司，持续推动商业航天高质量发展；直播电商监管新规拟出台；取款超5万不再需要登记；主 要产油国宣布维持明年头三个月暂停增产计划。 ...

Group 1: Financial and Economic Policies - The People's Bank of China and the Ministry of Science and Technology held a meeting to promote the integration of technology and finance, emphasizing the need for effective policy measures and collaboration between central and local governments to support high-level technological self-reliance [1] - The central bank reported that as of the end of October, the top 50 investors in corporate credit bonds held 53.2% of the total, indicating a concentration of holdings among major state-owned commercial banks, public funds, and insurance financial institutions [4] Group 2: Market Indices and Adjustments - The China Securities Index announced the periodic adjustment results for major A-share indices, with changes effective after the market closes on December 12, including the addition of several companies to the CSI 300, CSI 500, and other indices [2] Group 3: Manufacturing and Economic Indicators - The manufacturing Purchasing Managers' Index (PMI) for November was reported at 49.2, reflecting a 0.2 percentage point increase from the previous month, indicating an improvement in economic conditions [5] Group 4: Technological Advancements - The world's first 660-megawatt ultra-supercritical circulating fluidized bed boiler has passed expert evaluation, marking a significant breakthrough in clean power generation technology [6] Group 5: Company News and Developments - *ST Dongyi faces risks of bankruptcy due to failed restructuring efforts [7] - Arctech plans to establish a joint venture with its controlling shareholder to adjust its U.S. market operations [7] - Ulead's board plans to reduce its stake by up to 0.0313% [7] - Huayang Co. has launched a project to produce 200 tons of high-performance carbon fiber annually [7] - Enjie plans to acquire 100% equity of Zhongke Hualian, leading to a stock suspension [7] - ST Tianrui's controlling shareholder is planning a change in company control, resulting in stock suspension [7] - Chuangxin Data reports a strong order backlog and is advancing related order deliveries [8] - Changchuan Technology's shareholders plan to reduce their stake by up to 2.05% [8] - Dongfang Precision plans to sell 100% equity of Fosber Group and two other companies, which is expected to constitute a major asset restructuring [8] - Ugreen Technology is focusing on storage business as a core growth area [8] - Changhong Meiling's subsidiary plans to invest 12.58 million in a technology renovation project [9] - Shandong Highway's subsidiary intends to sell 9.68% equity of Guangdong Highway for 2.435 billion [10]

Group 1 - The "Futures Market Making Business Management Rules" have been officially implemented, indicating a regulatory shift in the futures trading landscape [1] - The U.S. stock market indices closed higher, with the Dow Jones Industrial Average rising by 0.61%, the Nasdaq by 0.65%, and the S&P 500 by 0.54%, reflecting positive market sentiment [1] - Notable individual stock movements included Intel surging over 10% due to anticipated shipments of Apple's M-series processors, while Oracle fell by 1.5% amid reports of seeking $38 billion in loans for OpenAI-related agreements [1] Group 2 - The Nasdaq China Golden Dragon Index increased by 0.54%, with JD.com up 1.4% and Baidu up 0.5%, while Alibaba saw a slight decline of 0.2% [2] - International oil prices experienced minor fluctuations, with WTI crude oil down 0.17% at $58.55 per barrel and Brent crude down 0.22% at $63.20 per barrel [2] - Precious metals performed well, with COMEX gold futures rising 3.40% to $4,218.30 per ounce, marking a 28.09% increase over the month, the highest since February 2009 [2] Group 3 - The People's Bank of China emphasized the illegality of virtual currencies and their associated activities, reinforcing a strict regulatory stance against virtual currency trading [3] - The establishment of a dedicated Commercial Space Administration by the National Space Administration signifies a move towards better regulation and support for China's commercial space industry [3][4] - The Ministry of Industry and Information Technology highlighted the rapid growth of China's power and energy storage battery industry, while also addressing challenges such as irrational competition and the need for quality supervision [6] Group 4 - The China Securities Regulatory Commission is seeking public opinion on the implementation measures for the supervision of the securities and futures market, outlining various regulatory actions [5] - Adjustments to major stock indices, including the Shanghai Stock Exchange indices, are set to take effect on December 13, 2024, reflecting ongoing market dynamics [7] - The market regulatory authority is preparing to introduce a new supervision management method for live e-commerce, indicating a focus on enhancing regulatory frameworks in this sector [7]

每经记者｜杨建 每经编辑｜肖芮冬 ｜2025年12月1日 星期一｜ NO.1 国家航天局设立商业航天司，持续推动商业航天高质量发展 据国家航天局消息，近期设立商业航天司，相关业务正在逐步开展，标志着我国商业航天产业迎来专职 监管机构，未来将持续推动我国商业航天高质量发展，产业链有望全线受益。国家航天局近日公布《推 进商业航天高质量安全发展行动计划（2025—2027年）》，提出将商业航天纳入国家航天发展总体布 局，加快形成航天新质生产力，实现航天发展效能整体提升，有力支撑航天强国建设。这项计划明确， 到2027年，商业航天产业生态高效协同，实现商业航天高质量发展。 NO.2 国家发改委：鼓励支持引导广大民营企业把握新一轮科技革命和产业变革的投资机遇 11月30日，据在长沙召开的全国促进民营经济发展壮大现场会透露，国家发展改革委将进一步拓宽市场 准入空间，强化要素支持保障，加快组建国家创业投资引导基金，切实增强民营企业获得感。鼓励支持 引导广大民营企业把握新一轮科技革命和产业变革、超大规模国内市场、城乡区域协调发展等民间投资 发展机遇，进一步拓宽市场准入空间、强化要素支撑保障、加强合法权益保护，持续激发民间投资 ...

● 新华社北京11月29日电 会议强调，虚拟货币不具有与法定货币等同的法律地位，不具有法偿性，不应且不能作为货币在市场上 流通使用，虚拟货币相关业务活动属于非法金融活动。 2021年中国人民银行等十部门联合发布《关于进一步防范和处置虚拟货币交易炒作风险的通知》要求， 坚决打击虚拟货币交易炒作，整顿虚拟货币乱象。 针对稳定币，会议明确指出，目前稳定币无法有效满足客户身份识别、反洗钱等方面的要求，存在被用 于洗钱、集资诈骗、违规跨境转移资金等非法活动的风险。 会议要求各单位要深化协同配合，完善监管政策和法律依据，聚焦信息流、资金流等重点环节，加强信 息共享，进一步提升监测能力，严厉打击违法犯罪活动，维护经济金融秩序稳定。 （记者吴雨、任军） 记者11月29日从中国人民银行获悉，我国将继续坚持对虚拟货币的禁止性政策，持续打击虚拟货币相关 非法金融活动，保护人民群众财产安全。 记者了解到，中国人民银行日前召开打击虚拟货币交易炒作工作协调机制会议。会议指出，近期，受多 种因素影响，虚拟货币投机炒作有所抬头，相关违法犯罪活动时有发生，风险防控面临新形势、新挑 战。 ...

近日，中国人民银行召开打击虚拟货币交易炒作工作协调机制会议。 央行等部门首次公开定调稳定币 继续坚持对虚拟货币的禁止性政策 ◎记者 常佩琦 会议要求，把防控风险作为金融工作的永恒主题，继续坚持对虚拟货币的禁止性政策，持续打击虚拟货 币相关非法金融活动。各单位要深化协同配合，完善监管政策和法律依据，聚焦信息流、资金流等重点 环节，加强信息共享，进一步提升监测能力，严厉打击违法犯罪活动，保护人民群众财产安全，维护经 济金融秩序稳定。 会议指出，近年来各单位认真贯彻落实党中央、国务院决策部署，按照2021年中国人民银行等十部门联 合发布的《关于进一步防范和处置虚拟货币交易炒作风险的通知》要求，坚决打击虚拟货币交易炒作， 整顿虚拟货币乱象，取得明显成效。近期，受多种因素影响，虚拟货币投机炒作有所抬头，相关违法犯 罪活动时有发生，风险防控面临新形势、新挑战。 据了解，公安部、中央网信办、中央金融办、最高人民法院、最高人民检察院、国家发展改革委、工业 和信息化部、司法部、中国人民银行、国家市场监管总局、国家金融监管总局、中国证监会、国家外汇 局有关负责同志出席会议。 会议强调，虚拟货币不具有与法定货币等同的法律地位，不具 ...

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the continuation of prohibitive policies against virtual currencies and the ongoing crackdown on illegal financial activities related to them [1][2]. Group 1: Regulatory Actions - A recent meeting involving the PBOC and thirteen other departments highlighted the need to maintain a strict ban on virtual currencies and to combat illegal financial activities associated with them [1][2]. - The meeting acknowledged the effectiveness of previous measures taken since 2021 to curb virtual currency trading and related risks, but noted a resurgence in speculative activities and related crimes [1][2]. Group 2: Legal Status and Risks - Virtual currencies do not hold the same legal status as fiat currencies and are considered illegal financial activities, with stablecoins posing risks related to money laundering and fraud [1][2]. - The PBOC and other financial authorities are concerned about the emergence of stablecoins, which have not yet met essential criteria for integration into the monetary system [2]. Group 3: Market Developments - Financial regulatory bodies have observed that some illegal entities are exploiting terms like "financial innovation" and "digital currency" to attract investments, promising high returns and encouraging speculative trading [3]. - The PBOC plans to work with law enforcement to continue monitoring and evaluating the development of stablecoins internationally [3].