Core Viewpoint - The introduction of the "Hunan Data Regulation" marks a significant step towards the market-oriented allocation of data resources and the legal governance of data in Hunan Province, aiming to transform data from a "resource" to a "factor" and then to an "asset" [1] Group 1: Data Management and Governance - The regulation emphasizes the establishment of a provincial data property registration system to enhance data management and ensure high-quality data supply [2] - It highlights the need for ecological environment departments to utilize data as a responsibility carrier, integrating data collection and sharing into performance assessments [2] - The regulation aims to create a public data resource platform that consolidates various functions, facilitating data sharing across departments [2] Group 2: Digital Transformation and Data Utilization - The regulation proposes a data revenue distribution mechanism to clarify the benefits for stakeholders involved in the data value chain, encouraging participation in data market construction [3] - It identifies the necessity for digital transformation in ecological environment protection, addressing challenges such as limited funding and the need for high-quality data sources [3] - The establishment of a public data authorization operation mechanism is crucial for attracting third-party entities to enhance data governance and resource utilization [3] Group 3: Application Scenarios and Collaborative Governance - The regulation calls for innovative construction of data application scenarios, promoting the integration of data across various sectors and supporting the development of industry-specific databases [4] - It notes that while the ecological environment department has made progress in data integration, there is still limited participation from enterprises and research institutions [4] - The focus should be on developing typical data application scenarios that address fundamental ecological issues, fostering collaboration among enterprises, research institutions, and universities [4][5]

Report Industry Investment Ratings No relevant content provided. Core Views of the Report - Overseas, the US employment data shows significant divergence, and the performance of NVIDIA's AI business has restored market risk appetite. The Fed's October meeting minutes revealed serious differences, and the change of the October non - farm report schedule has led to a lack of key data for the December interest - rate decision. Domestically, the economic fundamentals are cooling marginally, but the policy remains firm, and the market's expectation of policy intensification is rising [2]. - The spot pressure of the container shipping European line continues, and the futures price fluctuates lower. The market is currently mixed with long and short factors, and the short - term volatility may intensify. It is expected to maintain a low - level shock in the short term [8][9][10]. - For precious metals, the uncertainty of the Fed's December interest rate cut increases, and it is expected to continue to oscillate and consolidate in the short term. Although the medium - and long - term prices are expected to rise, the short - term trend is unclear [14][15][17]. - For copper, the uncertainty of the Fed's December interest rate cut increases, and the driving force for copper price increase weakens. It is expected to fluctuate in the range of [86000, 87000] [18][20][21]. - For the aluminum industry chain, aluminum is expected to oscillate at a high level, alumina is expected to run weakly, and cast aluminum alloy is expected to oscillate at a high level [22]. - Zinc is expected to oscillate narrowly, and the nickel - stainless steel market should be wary of callbacks in the unilateral downward range and pay attention to option opportunities [22][24][25]. - Tin is expected to oscillate narrowly, and it is recommended to enter the market on dips [25][26]. - The risk of a decline in lithium carbonate prices still exists, and the near - month contracts are under pressure. It is expected to show a "wide - range shock and weak" operating characteristic in the range of 83000 - 93000 yuan/ton in the next two weeks [27]. - The fundamentals of industrial silicon and polysilicon are weak, and they are expected to oscillate widely. The industrial silicon futures price is likely to maintain an oscillating and weak pattern in the short term [27][28][29]. - Lead is expected to oscillate, and there is support below [30]. - For steel products, the overall finished products are supported by raw material costs below, but the upward drive is suppressed by inventory. It is expected to oscillate in the range, with rebar in the range of 2900 - 3200 and hot - rolled coil in the range of 3100 - 3400 [31][32]. - Iron ore prices continue to oscillate widely. It is recommended to wait for the basis to repair and the market sentiment to improve before considering shorting at high prices [33][34]. - For coking coal and coke, the support for coking coal is loosening, and the expectation of price cuts is increasing. The coking coal 01 contract is under pressure in the short term, while the 05 contract has medium - and long - term long - allocation potential [34][35]. - Ferrosilicon and ferromanganese are expected to oscillate weakly due to high inventory and weak demand [36][37]. - The crude oil market is affected by macro and geopolitical negatives, and it is expected to oscillate in the range of 60 - 65 in the short and medium term [38][39][40]. - The valuation of LPG is being repaired, and attention should be paid to the profit of PDH and the progress of the Russia - Ukraine issue [41][42]. - For PTA - PX, the speculation on blending for oil is weakening. It is necessary to pay attention to the implementation of maintenance plans and the actual dynamics of blending for oil. Consider short - term callbacks and long - term positions [42][43][45]. - For MEG - bottle chips, it is too early to bottom - fish, and attention should be paid to the opportunity of selling call options on rebounds [46][47][48]. - The upward height of methanol 01 is limited. It is recommended to hold the previous short - call positions and consider 12 - 1 and 1 - 5 reverse spreads [48][49]. - The downward space of PP is limited, and it is expected to maintain a low - level shock pattern [50][52][53]. - PE is expected to continue the low - level shock pattern, and a selling option strategy can be considered [54][55][56]. - For pure benzene and styrene, the market sentiment is significantly boosted in the short term, but the domestic pure benzene fundamentals are still weak. Do not chase high prices in the medium and long term [56][57][58]. - For fuel oil, the high - sulfur fuel oil cracking has rebounded after a sharp decline, but it is still bearish in the future; the low - sulfur fuel oil cracking is weakening, and it is recommended to wait and see [58][59]. - The bottom space of asphalt is not large, and attention should be paid to the winter storage policy. It is expected to oscillate in the short term [60][61]. - Rubber and 20 - rubber fell after reaching the upper limit of the range, and attention should be paid to the revision of the 20 - rubber futures contract and delivery rules [61]. Summaries by Relevant Catalogs Financial Futures - **Macro**: Domestic policies remain firm. Overseas, the US employment data is divided, and the Fed's attitude towards interest rate cuts is inconsistent. The market is concerned about the November employment data and the appointment of the Fed chairman. The RMB exchange rate is expected to "oscillate and build a bottom, with the center slowly declining" [1][2][3]. - **Stock Index**: The dovish remarks of Fed officials have increased the expectation of interest rate cuts, which may support the stock index in the short term. However, due to the tense Sino - Japanese relations and the lack of policy news, the stock index is expected to oscillate [4][5]. - **Treasury Bonds**: The mid - term long positions should be held. Although there are some negative factors, the impact on the bond market is mainly short - term sentiment, and the substantial negative impact is limited [6]. - **Container Shipping European Line**: The spot index has weakened again, and the shipping companies' price - holding efforts have not been effective. The market is mixed with long and short factors, and it is expected to maintain a low - level shock in the short term [8][9][10]. Commodities Non - ferrous Metals - **Gold & Silver**: The uncertainty of the Fed's December interest rate cut increases, and the precious metals are expected to continue to oscillate and consolidate in the short term. The long - term price is expected to rise, but attention should be paid to the 60 - day moving average [14][15][17]. - **Copper**: The uncertainty of the Fed's December interest rate cut increases, and the driving force for copper price increase weakens. The downstream demand is mainly for rigid needs, and it is expected to fluctuate in a narrow range [18][20][21]. - **Aluminum Industry Chain**: Aluminum is expected to oscillate at a high level, alumina is expected to run weakly, and cast aluminum alloy is expected to oscillate at a high level. Attention should be paid to the Fed's interest rate decision and the fundamentals of each link [21][22]. - **Zinc**: It is expected to oscillate narrowly. The reduction of TC in November has increased the willingness of smelters to cut production, and the inventory has decreased. Attention should be paid to exports and the macro situation [22][23][24]. - **Nickel, Stainless Steel**: They are in a unilateral downward range, and attention should be paid to callbacks and option opportunities. The cost of nickel - iron has collapsed, and the downstream demand for stainless steel is weak [24][25]. - **Tin**: It is expected to oscillate narrowly. The supply of concentrates is tight, and it is recommended to enter the market on dips [25][26]. - **Lithium Carbonate**: The risk of a decline still exists, and the near - month contracts are under pressure. The supply of lithium ore is expected to increase, and the downstream demand may decline seasonally [27]. - **Industrial Silicon & Polysilicon**: The fundamentals are weak, and they are expected to oscillate widely. The industrial silicon futures price is likely to follow the price fluctuations of related varieties and maintain an oscillating and weak pattern [27][28][29]. - **Lead**: It is expected to oscillate, and there is support below. The raw materials for smelting are tight, and the cost of recycled lead provides support [30]. Black Metals - **Rebar & Hot - Rolled Coil**: They are expected to oscillate in the range, with the lower limit supported by raw material costs and the upper limit suppressed by inventory. Attention should be paid to the de - stocking speed and downstream consumption [31][32]. - **Iron Ore**: The price continues to oscillate widely. The decline of coking coal price may support the iron ore price. It is recommended to wait for the basis to repair before shorting at high prices [33][34]. - **Coking Coal & Coke**: The support for coking coal is loosening, and the expectation of price cuts is increasing. The coking coal 01 contract is under pressure in the short term, while the 05 contract has medium - and long - term long - allocation potential [34][35]. - **Ferrosilicon & Ferromanganese**: They are expected to oscillate weakly due to high inventory and weak demand. The production is expected to decline, and de - stocking may depend on production cuts [36][37]. Energy and Chemicals - **Crude Oil**: The market is affected by macro and geopolitical negatives, and it is expected to oscillate in the range of 60 - 65 in the short and medium term. Attention should be paid to the changes in macro and geopolitical factors [38][39][40]. - **LPG**: The valuation is being repaired. The supply is increasing slightly, and the demand for PDH is in a loss state. Attention should be paid to the profit and the Russia - Ukraine issue [41][42]. - **PTA - PX**: The speculation on blending for oil is weakening. It is necessary to pay attention to the implementation of maintenance plans and the actual dynamics of blending for oil. Consider short - term callbacks and long - term positions [42][43][45]. - **MEG - Bottle Chips**: It is too early to bottom - fish, and attention should be paid to the opportunity of selling call options on rebounds. The supply is expected to increase, and the demand is stable in the short term [46][47][48]. - **Methanol**: The upward height of 01 is limited. The port pressure is increasing, and the inland is de - stocking. It is recommended to hold short - call positions and consider reverse spreads [48][49]. - **PP**: The downward space is limited, and it is expected to maintain a low - level shock pattern. The supply pressure is relieved, and the demand growth is slowing down [50][52][53]. - **PE**: It is expected to continue the low - level shock pattern. The supply is strong, and the demand is weak, especially with the end of the agricultural film peak season. A selling option strategy can be considered [54][55][56]. - **Pure Benzene & Styrene**: The market sentiment is significantly boosted in the short term, but the domestic pure benzene fundamentals are still weak. Do not chase high prices in the medium and long term [56][57][58]. - **Fuel Oil**: The high - sulfur fuel oil cracking has rebounded after a sharp decline, but it is still bearish in the future; the low - sulfur fuel oil cracking is weakening, and it is recommended to wait and see [58][59]. - **Asphalt**: The bottom space is not large, and attention should be paid to the winter storage policy. It is expected to oscillate in the short term. The supply has decreased, and the demand is gradually weakening [60][61]. - **Rubber & 20 - Rubber**: They fell after reaching the upper limit of the range. Attention should be paid to the revision of the 20 - rubber futures contract and delivery rules [61].

Market Overview - The U.S. stock market rebounded last Friday, with major indices rising at least 0.9%, despite a weekly decline of nearly 2% [2] - Google shares surged over 3%, reaching a historical high with an 8% increase for the week [2] - Nvidia experienced a volatile week, initially dropping over 4% before closing down nearly 1%, with a total weekly decline of about 6% [2] - Oracle shares fell nearly 6%, while Eli Lilly rose over 1%, becoming the first healthcare company to reach a market capitalization of $1 trillion [2] - U.S. Treasury prices rose, with yields hitting new monthly lows, while the dollar index reached its highest level in nearly six months [2] Economic Indicators - The U.S. Labor Statistics Bureau canceled the October CPI release, with the November CPI report scheduled for December 18 [5] - The preliminary S&P Global Composite PMI for November was 54.8, the highest in four months, indicating a faster growth in the services sector [5][16] - The Eurozone's November manufacturing PMI unexpectedly fell back below the growth line at 49.7, while the services PMI reached a one-and-a-half-year high at 53.1 [17] Federal Reserve Insights - The Federal Reserve's vice chair indicated that there is still room for interest rate cuts, with market expectations for a December rate cut probability exceeding 70% [4][15] - The Fed's officials expressed concerns about rising debt risks associated with the AI boom, while also noting that the current monetary policy is in a mild tightening phase [20] Cryptocurrency Market - Bitcoin fell below $81,000, marking a potential record monthly decline, with a weekly drop exceeding 10% [5][17] - The total market capitalization of cryptocurrencies fell below $3 trillion, with investor sentiment reaching "extreme fear" levels [17][21] International Developments - The U.S. government is considering allowing Nvidia to sell H200 chips to China, which reportedly have double the performance of the H20 chips [23] - Japan approved a 21.3 trillion yen economic stimulus plan, the largest since the pandemic, raising concerns about the country's fiscal health [23] - The G20 summit emphasized multilateral cooperation and sustainable development, particularly in AI and data governance [19][22]

Core Insights - Avita Technology has been awarded the "Top 100 Data Management Enterprises" certification for its outstanding practices and results in data governance and application, following its achievement of the DCMM Level 3 Robust certification [1] - The "Top 100 Data Management Enterprises" list was organized by the China Electronic Information Industry Association, highlighting Avita's leading position in data governance and application among thousands of participating companies [1] Group 1 - Avita has established a comprehensive protection system covering the entire lifecycle of intelligent driving data and all dimensions of user information, ensuring data is "available but invisible, controllable and traceable" [5] - The company has initiated a company-wide data asset project, achieving the industry's first closed-loop entry of data assets into the balance sheet for an automotive enterprise, addressing the challenge of transforming data into assets in the new energy vehicle sector [5] - This innovative practice provides a reference for future deep collaboration and integration upgrades across the entire industry chain [5]

Core Insights - The release of the "Industrial Enterprises Secondary Data Governance Practice Guide White Paper" by the International Data Governance Association (IDGA) marks a new phase in data governance within China's industrial sector [1][3] - The white paper consolidates insights from over twenty leading industry companies and more than forty experts, providing a systematic methodology and practical pathways for secondary data governance in industrial enterprises [1][3] Challenges in Data Governance - Industrial enterprises face three core challenges in data governance: lack of a cohesive governance framework, persistent data quality issues, and insufficient coverage of core business data resources [3][4] - The IDGA expert committee emphasizes that data governance is a long-term endeavor, requiring strategic approaches to address complex data issues accumulated over years [3] Four-Dimensional Governance System - The white paper proposes an innovative "strategy-standard-technology-application" four-dimensional governance system to address existing pain points [3][4] - It recommends a five-year strategic plan with annual rolling planning to translate strategy into actionable tasks, alongside a unified standard system for comprehensive lifecycle management [3][4] Technological Support - The white paper highlights the introduction of an external data quality automatic verification platform, which employs a dual-layer architecture for comprehensive data lifecycle management [4] - This platform utilizes an intelligent routing mechanism to dynamically apply differentiated verification rules based on data types and business scenarios [4] Innovative Governance Framework - The most innovative contribution of the white paper is the "three zones and one loop" panoramic governance framework, which systematically illustrates the entire process from data generation to value release [5][6] - This framework aims to achieve the goals of "controllable, usable, and value-added" data [5] Optimization Strategies - For enterprises with existing master data management platforms, the white paper provides specific optimization strategies, including establishing cross-departmental governance committees and enhancing data quality management [6] - It introduces a data quality scoring system that incorporates key performance indicators (KPIs) related to master data completeness and accuracy [6] Enhancing Data Value - The white paper advocates for a shift from merely visualizing data metrics to enhancing data application value through comprehensive management practices [7] - It proposes a five-level directory structure for data resource inventory, combining top-down and bottom-up approaches [7] Organizational and Talent Support - The white paper emphasizes the critical role of organization and talent in data governance, recommending the establishment of a data governance office led by the Chief Information Officer [9] - It suggests a three-dimensional training system for talent development, including internal and external training, and collaboration with academic institutions [9] Expected Outcomes - The white paper anticipates significant improvements in data standardization, quality enhancement, business process optimization, and data-driven decision-making through systematic implementation of secondary data governance [10] - Specific targets include achieving over 98% accuracy in data consistency checks and significantly reducing approval cycles in core business processes [10]

Core Insights - The article emphasizes the importance of establishing a data and AI strategy that addresses real user challenges and is understandable to executives, stakeholders, and frontline data workers [1] Group 1: Data Governance - Successful data governance requires a non-intrusive approach to engage target audiences, particularly for Chief Data Officers (CDOs) [1][2] - CDOs must develop data governance policies and standards that align with organizational risk profiles, ensuring data quality and regulatory compliance [2][3] - The ultimate goal of data governance is to establish clear policies, standards, and data ownership to ensure high-quality data and positive ROI [3][4] Group 2: Data Innovation - Data innovation relies on how users extract insights from existing data to address strategic applications, particularly in regulated industries like banking and insurance [5][6] - Creating a portfolio of use cases is essential for data innovation, allowing for ROI tracking and avoiding the pitfalls of a "catch-all" approach [6][7] - Prioritizing use cases based on stakeholder needs and organizational goals is crucial for validating small-scale value [7][8] Group 3: Data and AI Analytics - Data and AI analytics are significant consumers of data, necessitating faster access to enhance data availability and usability [10] - Key elements for achieving positive ROI in data analytics include self-service data access and the creation of a single data source [10][11] - Gamification can foster a collaborative culture among data analysts, enhancing data literacy and encouraging contributions to strategic use cases [11][12] Group 4: Data Culture - Building a data culture is challenging due to the perceived risks of not immediately demonstrating value [13] - A non-intrusive approach to data literacy training can help integrate data responsibilities into job descriptions, ensuring accountability [13][14] - Coordinating governance, innovation, analytics, and culture can transform data and AI into valuable organizational assets [14][15]

平衡人工智能技术创新与安全治理风险。当前，人工智能立法速度相对迟缓，应秉持包容审慎原 则，充分认识和评估人工智能可能带来的治理风险，加强战略研究、前瞻预防和约束引导。中国在立法 方面开展了卓有成效的实践探索，如制定个人信息保护法、网络安全法等。不妨在此基础上，在更广泛 范围内探索构建人工智能相关法律法规，实现技术创新和社会秩序稳定的平衡。 强化数据治理，实现合作共赢。建议营造更加公平稳定可预期的法治环境，构建协同联动的监管体 系，提升人工智能法律服务业能级水平，实现数据跨境流动。建立多方共治共享的制度框架，让算法在 效率与公平、利益与责任间找到平衡。期待与包括中国在内的多国、国际组织、科技企业等合作，勾勒 出国际社会携手共建智能未来的务实路径。 图为美国信息产业机构总裁、执行董事缪万德在"互联网企业家论坛"上发言。(中国经济网记者 李凡摄) (作者：美国信息产业机构总裁、执行董事缪万德 经济日报记者 柳文整理) 人工智能已深入应用于医疗、金融等各领域，通过完善法律法规促进人工智能更好服务各行各业， 是一项迫在眉睫的课题。应通过制定完善相关法律制度，加强数据治理，规范算法应用推荐，让人工智 能真正造福人类。 ...

Core Viewpoint - The current digital wave is reshaping the global landscape, with cross-border data flow being crucial for digital trade and economic development [1] Group 1: Data Governance and Fragmentation - The global data governance has entered a fragmented state, with each country having its own systems for data management and large model training, leading to a divided global governance [1][2] - The fragmentation of data governance has tangible economic consequences, with a simulation indicating that if all countries completely restrict cross-border data flow, global GDP could decline by 4.5% and exports by 8.5% [2] - The fundamental reason for the increasing difficulty in achieving smooth global data flow is not ideological conflict but rather differences in mechanisms across countries [2] Group 2: Coordination of Differences - There are significant differences among countries across 45 dimensions, including legality conditions, localization requirements, and penalty mechanisms, rooted in historical, legal, and social contexts [2] - The key issue is not whether data should flow, but how to coordinate its flow amidst these differences in laws and regulations [2][3] - The international community currently lacks effective mechanisms to coordinate these differences, leading to the politicization of data governance [2] Group 3: Best Practices and Proposals - Singapore has emerged as a trusted node for cross-border data flow due to its transparent regulations, good enforcement records, and compatible legal framework with the EU [3] - A proposal is made to establish a technical, non-subjective evaluation system under the UN framework, creating a unified, transparent, and verifiable mechanism for data protection laws [3] - This system would allow countries and enterprises to test compliance with data protection standards, transforming cross-border data flow from a political trust issue to a technical coordination issue [3]

Core Insights - The 2025 World Internet Conference in Wuzhen, Zhejiang, focuses on building an open, cooperative, and secure digital future, emphasizing artificial intelligence, data governance, and digital inclusivity [1][2][3] - This year marks the 10th anniversary of the concept of a community with a shared future in cyberspace, highlighting the significance of the conference [1] Group 1: Event Highlights - The conference features the "Internet Light" Expo with themes like "AI Symbiosis, Smart Future," showcasing cutting-edge technologies and hosting various AI-related competitions [2] - The event includes the establishment of new committees, such as the e-commerce and cultural heritage digitization committee, aimed at enhancing online cultural exchange [2] Group 2: Technological Focus - The conference showcases advancements in brain-like computing, embodied intelligence, 6G, big data, and high-performance chips, reflecting the pursuit of a better life through technology [3] - Discussions on data governance and digital inclusivity are central to the conference, indicating a broader societal focus beyond just technological advancements [3]

变化在企业的发展过程中是一种普遍现象，然而，相较于过去，当前的变化速度显然更为迅猛。市场的频繁波动和劳动力规划 的持续调整，使得企业领导者在决策时面临着更加严峻的挑战。他们必须以更加谨慎的态度和更小的容错空间来应对日益增加 的不确定性因素。在这种复杂多变的经济环境下，动态战略的制定和情境规划的运用显得尤为重要。 为了有效应对这些挑战，企业迫切需要借助先进的预测分析工具。随着预测分析技术不断集成到财务规划和业务运营系统中， 它正在从根本上改变企业的传统运营模式。通过这项技术，企业不仅能够更加准确地预测未来的市场趋势和现金流走势，还能 优化供应链，从而提升整体运营效率和竞争力。 PART 1 什么是预测分析？ 预测分析是一种运用先进的统计方法、人工智能和自动化数据处理技术，为企业提供未来规划见解的方法。它通过识别过去和 当前数据中的信息，帮助企业管理者更深入地理解其业务的优势和未来趋势。预测分析可分为描述性分析和规范性分析两大 类。描述性分析回顾历史，解释已发生的事件，并提供对绩效的事后评估；规范性分析则前瞻未来，为企业提供更优的行动方 案以获取更佳成果。 预测分析的关键步骤包括： 当预测分析与企业的业务目标紧密 ...