Core Viewpoint - The Beijing First Intermediate People's Court publicly sentenced several executives from Zhongzhi Enterprise Group, including former Chairman Gao, for illegal public deposit solicitation, resulting in prison terms ranging from fourteen years to four years and six months, along with fines [1] Group 1: Legal Proceedings - The court found that the defendants, as responsible executives of Zhongzhi Enterprise Group, violated national financial management laws by illegally soliciting public deposits, thereby disrupting financial order [1] - The sentencing reflects the severity of the crimes based on the facts, nature, circumstances, and social harm caused by the defendants' actions [1] Group 2: Asset Recovery - Following the case's emergence, law enforcement agencies have been actively pursuing the recovery of assets involved in the case, with efforts to recover losses still ongoing [1]

Group 1 - The 2025 Welly Medical Science and Technology Park entrepreneur meeting was successfully held with the theme "Meet Friends - Together Towards the Future" [2] - Over 60 entrepreneurs and representatives from fields such as biomedical, intelligent manufacturing, and semiconductors gathered to discuss friendship and future collaboration [2] - Xu Shoujuan, General Manager of the park, delivered a speech highlighting the park's operational achievements and strategic plans for 2025, emphasizing the importance of technological breakthroughs and innovative models [3] Group 2 - The event featured a sharing session focusing on hard technology and biological innovation, with speakers from Anzu Intelligent Technology and Junzhen Biotechnology discussing advancements in smart robotic arms and fungal mycelium materials [6] - A representative from Bank of Communications provided insights into exclusive financial service solutions aimed at empowering technological innovation [8] Group 3 - The "Feast of Ideas" segment included a lecture by Gu Hongxia, an expert in applied economics, who analyzed China's strategic responses to global political and economic changes, particularly regarding the 14th Five-Year Plan [9] - The meeting concluded with a gathering of entrepreneurs, employees, and their families, celebrating the past year's efforts and achievements in a warm atmosphere [9] Group 4 - Awards were presented to over thirty enterprises and individuals, recognizing excellence in various categories such as growth, teamwork, and operational management [10] - The event included a lottery with diverse prizes, enhancing the celebratory spirit and reflecting the close-knit relationships within the park community [10] Group 5 - The meeting served as a platform for knowledge exchange and resource connection, with Welly Medical Science and Technology Park committed to fostering an open and collaborative ecosystem for high-quality development [12] - The park is positioned as a medical device industrial park, offering flexible rental options and excellent geographical advantages within the Shanghai-Suzhou one-hour economic circle [15]

Core Viewpoint - The Shanghai Municipal Committee's recent meeting outlines a strategic plan for the city's development during the 14th Five-Year Plan period, aiming to establish Shanghai as a world-class socialist modern international metropolis by 2035 [1][3]. Economic and Social Development Goals - The main objectives for Shanghai's economic and social development during the 14th Five-Year Plan include achieving significant high-quality development, enhancing urban core functions, making breakthroughs in high-level reform and opening up, improving social civilization, deepening the construction of a people-oriented city, and significantly advancing urban governance modernization [1][3][4]. Five Centers Development - Shanghai aims to accelerate the construction of five centers: international economy, finance, trade, shipping, and technology innovation, which are crucial for modernizing the city's industrial system and enhancing its core competitiveness [3][4]. Industrial System and Upgrading - The city plans to build a modern industrial system characterized by advanced manufacturing as the backbone, focusing on three leading industries: artificial intelligence, integrated circuits, and biomedicine, along with several emerging and future industries [6][10]. High-Level Reform and Opening Up - Shanghai will deepen high-level reform and opening up to enhance the momentum for high-quality development, positioning itself as a key window for observing China's reform and opening up [6][7]. Economic Resilience and Trade Growth - Despite external challenges, Shanghai's economy demonstrated resilience with a GDP growth of 5.5% in the first three quarters, and a 5.2% year-on-year increase in foreign trade from January to October, particularly with a 16.3% increase in exports to non-U.S. markets [7][9]. Urban Development and Spatial Planning - The city will optimize its urban development spatial structure, promoting coordinated regional development and enhancing the functions of new urban centers [11][14]. Quality of Life Improvements - Shanghai is committed to improving the quality of life for its residents, including significant upgrades to housing facilities and enhancing public services, aiming for a more livable and equitable urban environment [15][17]. Cultural Development - The city plans to enhance its cultural soft power by developing various cultural landmarks and promoting its rich cultural heritage during the 14th Five-Year Plan period [18].

申税小微，我公司购入了理财产品，取得的收益需要缴纳增值税吗？ 首先要区分购买的投资产品是保本型还是非保本型，让我们来看看相关规定吧！ 欢迎扫描下方二维码关注： - 01 - 持有期间（含到期）取得的收益 | 保本型 | 非保本型 | | --- | --- | | 若企业购买的是保本型理财产品，即合同中明确承诺到期本金可全部收 | | | | 若企业购买的是非保本型理财产品，金融 | | 回的投资收益，需按照"贷款服务"缴纳增值税。 | | | 税率： | 商品持有期间（含到期）取得的非保本收益， | | | 不属于利息或利息性质的收入，不征收增值 | | 一般纳税人：6% | | | | 税。 | | 小规模纳税人：3%（现行优惠政策3%减按1%） | | | 政策依据 | | 1.《财政部 税务总局关于明确增值税小规模纳税人减免增值税等政策的公告》（财政部 税务总局公告2023年第1号） 2.《财政部 税务总局关于增值税小规模纳税人减免增值税政策的公告》（财政部 税务总局公告2023年第19号） 3.《财政部 国家税务总局关于全面推开营业税改征增值税试点的通知》（财税〔2016〕36号）附件一《销售服务、 ...

Group 1 - Japanese government bond prices saw a significant drop on Monday, but experienced a slight increase during early Asian trading on Tuesday due to potential buy-on-dip demand [1] - The yield on 10-year Japanese government bonds closed at 2.080%, marking the highest level since February 1999 [1] - Analyst Ataru Okumura from SMBC highlighted that the focus will be on whether demand will emerge at the critical 2% yield level for 10-year bonds [1] Group 2 - Okumura noted that if the yield increase over the next 12 months can be limited to 2.2%, the returns from buying at current levels may exceed the interest from the Bank of Japan's current account deposits [1] - The yield on 40-year Japanese government bonds decreased by 1 basis point to 3.705% [1]

Core Viewpoint - The U.S. stock market experienced a positive trend with all three major indices rising for three consecutive days, driven by technology stocks, particularly those related to artificial intelligence [1][2][3]. Market Performance - The Dow Jones Industrial Average rose by 0.47% to close at 48,362.68 points, the S&P 500 increased by 0.64% to 6,878.49 points, and the Nasdaq Composite gained 0.52% to 23,428.83 points [2][3]. - The VIX, known as the "fear index," dropped to 14.08, marking the lowest level since December 13, 2024 [3]. Technology Sector - Major tech stocks showed strong performance, with Nvidia up 1.49%, Tesla up 1.56%, Oracle rising over 3%, and Micron Technology increasing by over 4% [3][5]. - Concerns about high valuations in tech stocks are present, with investors closely monitoring their performance as the year-end approaches [3]. Investor Sentiment - There is skepticism regarding the potential for a "Santa Rally" in the market, with some analysts suggesting a lack of catalysts for further gains [3]. - However, others express optimism for a strong start in 2026, indicating a potential return of the "Santa Rally" that could lead to new highs by year-end [3]. Economic Indicators - The S&P 500 has seen a year-to-date increase of 16.95%, with the possibility of achieving a third consecutive year of over 20% gains, which would be a rare occurrence [3]. Sector Highlights - The semiconductor sector rose by 1.1%, with 24 out of 30 stocks gaining, including a notable 4.01% increase in Micron Technology [6]. - The solar energy sector performed well, with Turbo Energy rising by 10.99% and First Solar reaching a new closing high since June 2024 [7]. Financial Sector - Citigroup shares increased by 2.81%, reaching the highest level since 2008 [8]. Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.58%, with several Chinese stocks, including TAL Education and Pinduoduo, showing gains [9][10].

Core Viewpoint - The Zhengzhou Municipal Party Committee's 12th Plenary Session has outlined a strategic plan for the city's development over the next five years, focusing on the "1+7+7+7" work deployment, which aims to enhance Zhengzhou's role as a national central city and achieve significant progress in socialist modernization by 2035 [1][2][3]. Group 1: Strategic Framework - The "1+7+7+7" work deployment consists of one overarching requirement, seven strong city initiatives, seven centers, and seven environments, forming a comprehensive framework for Zhengzhou's development [5][8]. - The overarching requirement emphasizes achieving decisive progress in socialist modernization, serving as a guiding principle for all initiatives during the 15th Five-Year Plan period [5][6]. Group 2: Seven Strong Cities - The seven strong city initiatives include building a strong city in science and technology, manufacturing, openness, digital intelligence, transportation, culture and tourism, and urban agriculture, which collectively aim to enhance Zhengzhou's economic and social capabilities [6][7]. - The focus on "openness" and "urban agriculture" reflects Zhengzhou's commitment to becoming a central hub for trade and ensuring food security while promoting modern agricultural practices [6]. Group 3: Seven Centers - The seven centers include education and technology talent integration, new industrialization demonstration, regional financial services, Silk Road hub, international consumption, cultural heritage, and urban governance innovation, which are critical for driving breakthroughs in key areas [7][8]. - Each center corresponds to national strategies and local advantages, aiming to transform Zhengzhou's comparative advantages into developmental strengths [7]. Group 4: Seven Environments - The seven environments focus on creating a fair legal environment, efficient business environment, trustworthy credit environment, stable social environment, healthy online environment, harmonious ecological environment, and a clean political environment, which are essential for high-quality development [8][9]. - Emphasis on a "clean political environment" aims to foster a culture of accountability and innovation among local officials and businesses [8]. Group 5: Implementation and Mobilization - The session calls for all levels of the party and government to prioritize the implementation of the session's spirit, aligning actions with the strategic deployment of "1+7+7+7" [9][10]. - There is a strong emphasis on collaboration and unity among the community to achieve the ambitious goals set forth in the development blueprint [10][11].

Market Trends - Precious metals continue to reach new highs, with COMEX gold futures rising by 2.13% to $4480.6 per ounce, and silver futures increasing by 2.37% to $69.09 per ounce. Platinum surged over 6% to break the $2100 per ounce mark, while palladium also saw significant gains [1] - The US stock market saw all three major indices close higher, with the S&P 500 up 0.64%, the Nasdaq up 0.52%, and the Dow Jones up 0.47%. The VIX index fell to 14.08, the lowest level since December 2024, driven by gains in AI-related stocks such as Nvidia and Tesla [1] Commodity Prices - WTI crude oil futures settled up 2.64% at $58.01 per barrel, while Brent crude rose 2.65% to $62.07 per barrel. Recent US actions in Venezuela have raised concerns about oil supply security [2] - Tungsten powder saw a weekly increase of approximately 18%, while silver prices have risen over 128% year-to-date, and palladium has increased by over 95% [1][2] Stock Market Activity - Southbound funds recorded a net purchase of approximately HKD 31.25 billion, with notable net buys in SMIC and Xiaomi, while China Mobile faced net selling [3] - Four new stocks listed on the Hong Kong market experienced significant declines on their first day, with losses ranging from 24.17% to 49.46% [3] Investment Trends - Insurance capital has shown increased enthusiasm for stock purchases, with a total of 39 instances of stake increases this year, primarily favoring high-dividend stocks in banking, infrastructure, and logistics sectors [3] - Stock ETFs have seen a net inflow of 400.96 million shares in December, with broad-based ETFs attracting over RMB 11.137 billion [4] Economic Policies - The Chinese government is planning to implement a series of major projects to stimulate economic growth and expand domestic demand, as discussed in a recent State Council meeting [10] - The National Healthcare Security Administration has initiated a centralized procurement process for high-value medical consumables, aiming to streamline costs and improve access [10] Industry Developments - A breakthrough in optical computing chips has been achieved by researchers at Shanghai Jiao Tong University, which could significantly impact the market for optical communication chips, projected to grow at a CAGR of 17% from 2025 to 2030 [8] - The global cloud infrastructure services spending is expected to reach $102.6 billion by Q3 2025, reflecting a 25% year-on-year growth, driven by the increasing demand for AI technologies [13] Company Announcements - Vanke has extended the grace period for a bond repayment from 5 working days to 30 trading days, although the revised repayment plan was not approved by bondholders [4] - Huaxia Happiness rejected proposals from Ping An Life to increase its stake, indicating ongoing governance challenges [14]

Group 1 - The mid-term direction of US Treasury yields is relatively clear, with a downward trend expected, although supply pressure may persist in the bond market [1][27] - The Hong Kong stock market is expected to experience short-term volatility, influenced by overseas liquidity and seasonal factors, with limited support from southbound capital [1][22] - Gold prices have absorbed much negative sentiment after a month of consolidation, maintaining an optimistic outlook due to clear long-term fundamentals [1][33] Group 2 - The US stock market showed mixed performance, with fluctuations driven by AI narratives and economic data, leading to increased expectations for interest rate cuts in 2026 [2][4] - The Indian stock market is in a state of low trading volume and lacks clear direction, with investors awaiting upcoming Q3 earnings and policy announcements [8][10] - Japanese stocks are under pressure due to conflicting macro policies, with the Bank of Japan's tightening measures impacting market sentiment [12][14] Group 3 - The domestic bond market is experiencing fluctuations due to weak economic data and expectations of interest rate cuts, with a focus on the impact of upcoming policies [29][30] - Oil prices are experiencing wide fluctuations due to geopolitical tensions and supply chain disruptions, with demand concerns remaining a significant factor [36][37]

截至22日收盘，标普500指数在今年累计上涨16.95%，而2023年和2024年的涨幅分别超过24%和23%。 麦高夫表示，对2026年股市走势持建设性乐观立场，但投资者应该为出现一些波动做好准备。市场预计 上市公司业绩在2026-2027年将增长14%左右，这一涨幅很大。鉴于美联储将迎来新主席和美国将举行 中期选举，市场预计将会出现一些小波动。 外汇经纪商嘉盛集团资深分析师Jerry Chen表示，日本央行不及预期鹰派的声明暂时排除了市场巨大的 不确定性，缓解了对于流动性的担忧，为圣诞行情奏响了序曲。 转自：新华财经 新华财经纽约12月22日电（记者刘亚南）由于年末传统假日乐观氛围推动，纽约股市三大股指22日高 开，盘中强势盘整，收盘时纽约股市三大股指均上涨。 截至当天收盘，道琼斯工业平均指数比前一交易日上涨227.79点，收于48362.68点，涨幅为0.47%；标 准普尔500种股票指数上涨43.99点，收于6878.49点，涨幅为0.64%；纳斯达克综合指数上涨121.209点， 收于23428.829点，涨幅为0.52%。 板块方面，标普500指数十一大板块十涨一跌。材料板块和金融板块分别以1.3 ...