第一财经每日早间精选热点新闻，点击「听新闻」，一键收听。 【今日推荐】 中央经济工作会议最新信号，结构性货币政策工具"加量降价"可期 中央经济工作会议中关于2026年货币政策延续适度宽松的基调，显示出宏观政策保持很强的连续性、稳 定性。除了总量政策提出运用降准降息外，会议还要求畅通货币政策传导机制，引导金融机构加力支持 扩大内需、科技创新、中小微企业等重点领域。 泽连斯基：若获安全保障 愿支持在战时举行大选 当地时间11日，乌克兰总统泽连斯基在会见记者时表示，在获得国际伙伴提供充分安全保障前提下，他 愿意支持在战时状态下举行大选，并已要求议员着手准备相关立法修订。泽连斯基在与记者会面时表 示，"最重要的是确保选举的合法性。如果我们的合作伙伴能够帮助我们在安全条件下、在合理时间内 组织选举，我将予以支持。为避免这仅仅成为我发出的一个媒体信号，我已正式请求乌克兰议员起草允 许在战时状态期间举行选举的法律修正案。"泽连斯基强调，当前关键目标是以乌克兰的强势地位结束 冲突。 马斯克：若重来，不会领导"政府效率部" 美国电动车制造商特斯拉公司、太空探索技术公司创始人埃隆·马斯克日前表示，如果重来，他不会领 导"政府效率 ...

Core Viewpoint - Kandi Technologies Group has signed a share transfer agreement to acquire 100% equity of Rawrr Inc., a high-end electric off-road motorcycle brand, marking a significant step in its multi-brand strategy and strengthening its market presence in North America's sustainable mobility sector [1]. Group 1: Acquisition Details - The acquisition of Rawrr is aimed at enhancing Kandi's market foundation in North America and expanding its user base to include younger, socially-driven consumers [1]. - Rawrr is recognized as one of the most promising electric off-road brands in the U.S., known for its high-performance, lightweight, and fun products [1]. Group 2: Strategic Benefits - The acquisition will create significant synergies with Kandi's existing North American operations, as Rawrr's electric off-road motorcycles will complement Kandi's product offerings in non-road vehicles, providing low-carbon mobility solutions across various scenarios [1]. - Rawrr will benefit from Kandi's established retail network in North America, which will help reduce market promotion and channel development costs [2]. Group 3: Market Positioning - Rawrr's existing online direct sales and digital marketing capabilities will enhance Kandi's digital operational efficiency and brand influence [2]. - The collaboration is viewed as a win-win situation, with both companies sharing a vision for growth and aiming to establish Rawrr as a globally influential and respected brand [2].

Group 1 - The core viewpoint of the articles highlights Elon Musk's reflections on his tenure leading the "Government Efficiency Office," expressing regret over the impact it had on his business, Tesla, and indicating that he would not have taken the role if given a second chance [2][4] - During Musk's leadership, Tesla faced significant backlash, including vandalism and arson, attributed to public discontent with the office's drastic cuts to federal employees and its political stance [2] - The "Government Efficiency Office" claimed to have saved $214 billion, although independent observers argue that the actual savings are likely underestimated [2] Group 2 - Musk's departure from the "Government Efficiency Office" occurred earlier this year, and the office was officially closed last month, marking a significant shift in his professional landscape [4] - Following his exit from the Trump administration, Musk's situation improved, as Tesla shareholders approved a compensation plan that could position him as the world's first trillionaire [4] - The podcast interview with Katie Miller covered various topics, including Musk's views on artificial intelligence, social media, and conspiracy theories, in addition to his experiences with the "Government Efficiency Office" [4]

美国电动车制造商特斯拉公司、太空探索技术公司创始人埃隆·马斯克日前表示，如果重来，他不会领导"政府效率部"，而是专注运营自己的企业。 马斯克在9日播出的播客节目中接受"政府效率部"前任发言人凯蒂·米勒采访，被问及"如果重来，是否会领导'政府效率部'"。马斯克说："不，我不会这 样做。我想我总体上会在我的公司工作，而不是领导'政府效率部'。这样他们（反对者）就不会烧车了。" 马斯克执掌"政府效率部"期间，特斯拉经销商和充电站遭马斯克反对者破坏。舆论认为，特斯拉成为打砸、纵火对象，缘于不少人对马斯克主导的"政府 效率部"大幅裁减联邦雇员以及其政治倾向不满。 目前，"政府效率部"网站公布的已削减金额是2140亿美元，但其实际节省金额难以量化。独立观察人士坚持认为，美国政府发布的数据比实际节省的金 额少。 马斯克在2024年美国总统选举中全力支持特朗普，为特朗普胜选立下汗马功劳。在特朗普重返白宫后，马斯克主导"政府效率部"、帮助联邦政府削减开 支。然而，马斯克主管"政府效率部"期间与特朗普政府多名内阁成员发生争执，围绕"大而美"税收和支出法案与特朗普大打"口水仗"。 来源｜央视新闻 编辑 ｜瑜见 马斯克在播客采访中说 ...

最新的外贸数据反映了中国在一些高附加值行业的崛起，特别是汽车行业。过去，汽车贸易是从欧洲流向中国，如今反向进行，是从中国 流向欧洲，在欧洲道路上行驶的汽车中，越来越多的是中国汽车。专家指出，随着中国车企在越来越多的领域提升竞争力，这一趋势可能会持 续下去。中国仍在大力推动工业和包括电池、电动车、半导体等在内的新技术领域，从而继续提升产能。 央视网消息：尽管面临多重冲击，中国经济仍展现出显著韧性。国际货币基金组织上调2025年中国经济增速预期，中国经济高质量发展的 内在逻辑是什么？来看相关报道。 国际货币基金组织预计2025年中国经济增速将达5%，较今年10月发布的《世界经济展望报告》上调0.2个百分点。国际货币基金组织总裁 表示，中国政府认识到提振消费对带动经济增长的重要性，并采取了一系列有力举措，激发经济增长潜力。同时，亚行最新发布的报告显示， 得益于中国出口的强劲表现和持续的财政刺激政策，亚行也决定上调2025年中国经济增速预期。 尽管面临美国关税政策的持续压力，中国制造商通过降低对美国市场的依赖、积极拓展多元化市场，展现了强大的韧性。从出口商品来 看，11月中国机电及高技术产品出口增长加速。分析称，中国 ...

Group 1 - The new national standard for electric bicycles has been implemented since December, enforcing a speed limit of 25 km/h that cannot be unlocked [1] - Manufacturers face strict penalties for violating the new regulations, leading to the complete closure of speed unlocking channels [1] - Multiple electric bicycle brands confirm that the speed limit is secured by a triple anti-tampering mechanism, making it impossible to unlock [1] Group 2 - The new standard includes built-in Beidou positioning systems in electric bicycles to monitor speed, replacing previous brand-specific navigation systems [1] - Industry insiders indicate that consumers needing higher speeds must switch to electric motorcycles, which require a license and registration [1] - Due to price increases in electric bicycles, some users may consider directly purchasing electric motorcycles instead [1]

Core Viewpoint - The implementation of the new national standard for electric bicycles has led to a rise in prices and a shift in market dynamics, with stricter regulations affecting manufacturers and consumer choices [4][10][16]. Market Situation - The current market for new standard electric bicycles shows limited variety, with few models available and no promotional activities [11][12]. - Prices for electric bicycles have increased by approximately 200-300 yuan, with examples like the Aima "Little Golden Bean" model rising from around 2000 yuan to 2300 yuan [10][12]. - Sales performance varies by store, with some reporting normal sales while others have not sold any new standard models [12]. Speed Limit and Compliance - New standard electric bicycles cannot unlock speed limits, with a maximum speed of 25 km/h enforced through multiple anti-tampering measures [8][9]. - Manufacturers have closed loopholes for speed modification due to strict penalties, and any attempts to enhance speed would compromise compliance and registration [8][9]. Material and Design Changes - The new standard mandates reduced plastic usage, requiring manufacturers to use more aluminum and magnesium alloys, which increases production costs [10][16]. - The design changes have led to improved material quality, with many components now made from fire-retardant materials [10]. Industry Dynamics - The new standard is expected to reshape the industry, favoring larger manufacturers with better cost structures and market shares, while smaller companies may struggle to comply [16][17]. - The market may experience a cooling period followed by a resurgence as consumers adapt to the new regulations and seek compliant products [16]. Consumer Behavior - Some consumers still prefer older models due to their longer range and larger size, but these models are becoming scarce and more expensive [14][15]. - The demand for electric motorcycles may increase as consumers seeking higher speeds transition away from electric bicycles [16].

马斯克承认，由其在特朗普第二任期内主导的"政府效率部"（DOGE）仅取得了"有限的成功"。他表示，鉴于该项目对特斯拉业务造成的负面冲 击，若能重来将不会再度接手这一公职，转而专注于自身企业运营。 马斯克周二在参加播客节目时坦言，担任这一职位导致其个人及特斯拉面临剧烈的反噬。他指出，由于激进的政治言论以及削减政府开支的举措 引发公众不满，甚至导致特斯拉车辆在全美多地遭到人为破坏。他认为，如果不参与DOGE项目而专注于商业经营，本可以避免这些针对其公司 的攻击行为。 此次表态直接回应了资本市场长久以来的担忧。此前，投资者普遍质疑马斯克在DOGE的工作严重分散了其在特斯拉的精力，尤其是在该电动车 巨头面临销售放缓的严峻背景下。马斯克明确表示不会重返该岗位，被市场视为其将重新聚焦核心业务的信号。 此外，尽管马斯克与特朗普曾因财政法案产生公开分歧，但近期迹象显示双方关系有所缓和。目前，DOGE已确认解散，尽管该部门声称削减了 开支，但其实际成效因缺乏公开会计细节而难以被外部机构核实。 马斯克是在周二接受前特朗普政府官员Katie Miller采访时做出上述表态的。当被问及是否会再次领导DOGE时，马斯克明确回答： "不 ...

Core Insights - The report indicates that measures taken by various countries to reduce dependency on Chinese supply chains have not led to the anticipated "decoupling," but rather have prompted Chinese companies to initiate a new round of deeper global expansion [1][2]. Group 1: Industry Transformation - The report analyzes four key industries: electric vehicles, solar energy, apparel, and medical equipment, highlighting how geopolitical tensions, AI technology applications, and mandatory ESG regulations are fundamentally altering global manufacturing and procurement patterns [2]. - Chinese companies are transitioning from being the "world's factory" to "global production organizers," actively establishing manufacturing bases, R&D centers, and logistics hubs in regions such as Southeast Asia, South Asia, the Middle East, North Africa, Europe, and the Americas [3]. Group 2: Sector-Specific Developments - In the electric vehicle sector, Chinese manufacturers are investing in factories in Europe and ASEAN while securing upstream mineral resources through projects in Indonesia and Africa [3]. - In the solar industry, leading companies are relocating the entire vertical supply chain from polysilicon to components to Southeast Asia and North Africa to mitigate trade risks [3]. - In apparel and medical equipment, Chinese firms are building overseas industrial parks, creating proprietary brands, and establishing R&D laboratories to ascend the value chain and compete directly with international giants [3]. Group 3: Technological Innovations - The report emphasizes that the reshaping of supply chains is driven not only by AI and automation but also by rapid iterations of materials and core components [4]. - Innovations in battery chemistry and rare-earth-free motor designs in the electric vehicle sector aim to reduce reliance on countries that monopolize key minerals, while new battery technologies and efficient manufacturing processes in solar energy could reshape critical nodes in the value chain [4]. Group 4: ESG Regulations Impact - ESG requirements have shifted from optional to mandatory, influencing market entry and profitability, with the EU leading this trend through regulations like the Digital Product Passport and Carbon Border Adjustment Mechanism [5]. - The traditional cost-driven site selection logic is becoming obsolete, as companies must now prioritize regions that can provide verifiable low carbon footprints and robust ESG infrastructure [5]. - The report suggests that compliance with ESG standards is increasingly becoming a "passport" for entering high-end markets, fundamentally altering global industry regional layouts [5]. Group 5: Nearshoring Trends - Nearshoring has shown significant progress in certain sectors, such as medical device manufacturing in Central America and the automotive industry in Mexico, driven by geographical proximity, mature infrastructure, and favorable trade agreements [6]. - However, structural limitations exist, particularly in the apparel sector, where replicating Asia's decades-long accumulated textile ecosystem and supply network is challenging [6]. - The report highlights that successful nearshoring requires solid industrial infrastructure, a stable policy environment, and high logistical efficiency, while uncertainties in tariff policies have led many investors to adopt a wait-and-see approach [6].

（原标题：专访中国英国商会主席：英企对华信心日趋乐观，三成计划扩大投资） 南方财经21世纪经济报道记者郑青亭 北京报道 "目前，约三分之一的受访企业计划扩大投资，略超40%的企业保持现状，仅有极少数考虑缩减。市场 规模与完善的基础设施是重要支撑。更重要的是，在全球充满不确定性的环境下，中国展现出更强的可 预测性与稳定性，这对英国企业极具吸引力。" 中国英国商会主席陶克瑞(Chris Torrens)在北京接受21世 纪经济报道记者专访时说道。 12月9日，中国英国商会正式发布《在华英国企业：2025-26年度商业信心调查报告》（以下简称报 告）。报告表明，英国企业总体对其在中国市场的前景日趋乐观，多个重点行业认为明年有望成为疫情 以来业务表现最为强劲的一年。 陶克瑞表示，"这种积极态势与英国对华坚持务实合作的政策密不可分。今年以来，两国重启经济财金 对话，经贸联委会等重要政府间合作机制，为解决市场准入等议题提供了更加稳定、透明的沟通框 架。" 本次调查报告共收录超过300家在中国大陆运营的英国企业的观点与预期。报告显示，英国在华企业全 年营收预期较去年小幅回升，38%的企业预计2025年收入将高于2024年， ...