Core Insights - The People's Bank of China and eight other departments have issued opinions to support the construction of the Western Land-Sea New Corridor, emphasizing the exploration of digital financial international cooperation [1] - The offshore RMB has surpassed the 7.0 mark against the USD, reaching a high of 6.996, marking the first time since September 2024, while the onshore RMB also crossed 7.01, a new high since September 27, 2024 [1] - The global retail cross-border payment market is projected to grow to $64.5 trillion by 2032, with a compound annual growth rate (CAGR) of 6.2% from 2024 to 2032, which is expected to enhance the infrastructure and application scenarios for RMB cross-border payments [1] Market Sector Analysis - **Cross-Border Payment Technology Services**: Companies providing cross-border payment system construction, technology upgrades, data processing, and solutions will benefit from the rapid growth of CIPS system business and the expansion of digital RMB cross-border payment trials [2] - **Digital RMB Industry Chain**: The evolution of digital RMB into a strategic carrier integrating finance, technology, and data will drive demand for bank IT upgrades, terminal equipment enhancements, and payment institution scenario expansions, presenting new growth opportunities across the entire industry chain [2] - **Banking and Financial Institutions**: The deepening of cross-border RMB settlement facilitation trials and the increasing choice of international enterprises to use RMB for settlement will open up more business space for Chinese banks in cross-border financial services, trade financing, and asset management, enhancing their non-interest income and international competitiveness [2] - **Cross-Border E-Commerce and Foreign Trade**: Policy support for building cross-border e-commerce digital service platforms in relevant provinces and cities will improve service capabilities and efficiency, reduce cross-border payment costs, and create a more favorable operating environment for cross-border e-commerce enterprises to expand overseas [2] Regional Financial Cooperation Beneficiaries - Financial institutions, logistics companies, and foreign trade enterprises in the regions involved in the Western Land-Sea New Corridor will directly benefit from enhanced financial support and deepened cross-border cooperation, with listed companies in these areas likely to gain more policy dividends and market opportunities [3] Relevant Listed Companies - **Sifang Jingchuang (300468)**: Focuses on providing financial IT solutions for financial institutions, with deep expertise in blockchain technology and digital currency, participating in the development and testing of multilateral central bank digital currency bridge projects [4] - **Zhongyi Technology (301208)**: Provides IT infrastructure construction and operation services, expected to benefit from the demand driven by the promotion of digital RMB and the development of financial technology [4] - **Lakara (300773)**: A well-known domestic third-party payment company actively expanding digital RMB acceptance scenarios and participating in multiple pilot projects, likely to benefit from the expansion of the payment ecosystem brought by digital RMB [4] - **Jingbeifang (002987)**: A leading domestic financial technology company providing IT technical services to banks, with bank system upgrades being a key business direction [4] - **Nantian Information (000948)**: A leading provider of financial information solutions, offering professional IT services to banks, with the promotion of digital RMB driving the demand for upgrades in core and peripheral banking systems [4] - **Changliang Technology (300348)**: A core banking system supplier deeply involved in digital RMB projects, providing a range of solutions from core business systems to digital wallets [5] - **Tianyang Technology (300872)**: Provides IT solutions and services to financial institutions, focusing on business areas such as bank credit and transaction banking, with new business opportunities arising from the application of digital RMB in trade settlement and supply chain finance [5] - **Cuiwei Co., Ltd. (603123)**: Its subsidiary has signed cooperation agreements with designated operating banks for digital currency, actively promoting system construction for digital RMB acceptance [5] - **Chutianlong (003040)**: Has a broad layout in the digital currency field, establishing technical and business cooperation with the People's Bank of China and various commercial banks to promote the construction of the digital RMB ecosystem [5]

12月19日，由云南省商务厅指导、昆明市商务局主办、昆明市跨境电子商务协会协办的"2025面向南亚东南亚跨境电商大会"在昆明 成功举办。本次大会以"链接南亚东南亚 共筑跨境电商新生态"为主题，汇聚了800余名行业精英、知名学者、头部电商平台代表、 品牌领军人物及政府相关负责人，共同探讨全球跨境电商发展趋势，挖掘区域合作新机遇。 作为跨境电商服务生态中的重要支撑力量，连连数字旗下跨境支付品牌连连国际亮相大会，全面展示其一站式全球支付解决方案。 为应对跨境企业多主体、多市场、多场景、多币种等复杂服务需求，连连国际依托深耕行业多年的经验与技术积累，为跨境企业打 造了集收、付、兑、管于一体的一站式全球跨境资金解决方案，涵盖了支付、物流、合规、税务、融资等多个环节，可实现赋能客 户借助一个连连国际账户收付全球，助力全球经济实现快速、合规和智能的跨境资金流动。数据显示，截至2025年6月底，连连国 际已成功为约790万客户提供高效、便捷、安全的跨境支付服务。 此外，本次大会同步设置了30个产品展示专区及商务对接区，为产业链各方搭建了高效的面对面洽谈平台。 连连国际团队在大会设置的商务对接区与众多制造商、贸易商、电商平台及 ...

Core Viewpoint - The article discusses the performance of the A-share market, highlighting the mixed results of major indices and the notable movements in various sectors, particularly in insurance, paper, and commercial aerospace [3][5]. Market Performance - As of the midday session, the Shanghai Composite Index rose by 0.29%, while the Shenzhen Component Index fell by 0.11%, and the ChiNext Index decreased by 0.37% [3]. - The total trading volume in the Shanghai and Shenzhen markets reached 1.2 trillion yuan, an increase of 509 billion yuan compared to the previous trading day, with over 3,200 stocks rising [4]. Sector Highlights - The insurance sector showed strong performance, with China Pacific Insurance rising nearly 3% to reach a historical high, and Ping An Insurance increasing over 3%, marking its highest level since March 2021 [9]. - The paper and packaging industries also experienced significant gains, with the paper sector up by 5.06% [4]. - The commercial aerospace concept stocks were notably active, with companies like Guolian Aviation and Tianao Electronics hitting the daily limit [12]. Notable Stocks - The offshore RMB against the US dollar broke the 7.0 mark for the first time since September 2024, while the onshore RMB also surpassed 7.01, reaching a new high since September 27, 2024 [8]. - In the cross-border payment sector, Zhongyi Technology surged by 16.69%, and Sifang Precision rose by 9.01% [8]. Other Sector Movements - The energy metal industry chain saw a pullback, particularly in lithium mining, which led to declines in stocks like Shengxin Lithium Energy and Rongjie Shares, both down over 4% [12]. - The semiconductor sector also weakened, contributing to the overall mixed performance of the market [5].

12月25日早盘，跨境支付(CIPS)板块直线拉升。截至 10:33， 四方精创、中亦科技涨超10%，翠 微股份、拉卡拉、楚天龙、新晨科技、新国都等跟涨。 | ટેન | | 翠微股份 | 14.71 | +4.55% | +0.64 | | --- | --- | --- | --- | --- | --- | | | | 603123 | | | | | 创 | + | 新国都 | 26.30 | +3.34% | +0.85 | | | | 300130 | | | | | 创 | | 中亦科技 | 41.99 | +15.83% | +5.74 | | | | 301208 | | | | | 创 | | 四方精创 | 37.65 | +10.51% | +3.58 | | | | 300468 | | | | | 创 | | 拉卡拉 | 24.39 | +7.68% | +1.74 | | | | 300773 | | | | | SZ | | 楚天龙 | 19.86 | +3.71% | +0.71 | | | | 003040 | | | | | 创 | | 新晨科技 | 19.95 | +4. ...

Group 1: Computing Power - The 2025 Computing Power Internet Conference will be held on December 24-25 in Chengdu, Sichuan, where the national computing power internet service platform's cross-domain system will be officially launched, marking the preliminary validation of the "1+M+N" architecture [1] - The establishment of the national computing power internet service platform's cross-domain system aims to implement the national "East Data West Computing" strategy and build a unified national computing power system, enhancing resource utilization and service efficiency [1] Group 2: Naked-eye 3D Technology - A new generation of naked-eye 3D display system "Shusheng-Tongzhen EyeReal" has been developed by the Shanghai Artificial Intelligence Laboratory and Fudan University, achieving ultra-wide range, full-parallax 3D display without the need for glasses [2] - The technology addresses traditional 3D display issues such as dizziness caused by mismatched interpupillary distance, indicating a significant step towards practical applications in various fields including gaming, architecture, and education [2] Group 3: Cross-border Payments - The People's Bank of China and eight other departments have issued opinions to support the construction of the Western Land-Sea New Corridor, including exploring digital financial international cooperation and cross-border payment trials with Singapore [3] - The global retail cross-border payment market is projected to reach $64.5 trillion by 2032, with a compound annual growth rate of 6.2% from 2024 to 2032, driven by stablecoins and diversified application scenarios [3] Group 4: Robotics - Hangzhou Yundongchu Technology Co., Ltd. has submitted an IPO application, ranking second in the global quadruped robot market with an 18.9% market share [4] - The robotics industry is expected to enter a high-speed development phase, supported by policies and innovations across the entire industry chain, with humanoid robots anticipated to become a disruptive product [4] Group 5: Commercial Space Launch - Tianbing Technology's Tianlong-3 reusable rocket is set to conduct its maiden flight soon, with several new commercial rocket models expected to launch by the end of 2025 [5] - The upcoming launches are anticipated to trigger a significant transformation in China's commercial rocket sector, leading to a new phase of low-orbit satellite internet deployment [5]

通过连接全球主流银行与清算网络，PingPong建立覆盖广泛的本地化支付渠道，支持100+主流币中、20 大本地收款账户，能够实现资金在买卖双方间的快速直达。这种模式将传统模式下需数日完成的跨境结 算大幅缩短至分钟乃至秒级，显著加速了商户的资金周转效率。 在全球化浪潮的推动下，跨境电商作为国际贸易的新兴力量，正义前所未有的速度重塑着全球贸易格 局。 跨境电商通过减少中间环节，直接连接买卖双方，实现了高效率、低成本的交易。而这一优势的落地， 离不开安全、高效的跨境支付基础设施。PingPong作为全球领先的跨境支付服务商，其核心价值正是通 过技术和服务创新，帮助企业切实缩短支付链路、降低运营成本。 除了基础的收付款功能，PingPong的价值进一步体现在其对跨境贸易生态的整合上，多年来，PingPong 与沃尔玛、亚马逊、TikTok Shop、Temu等200+主流电商平台深入合作，提供开店及收款服务。企业还 可通过统一平台管理来自多个电商平台的销售回款，并直接向分布在全球的供应商、物流服务商及营销 合作伙伴进行支付。这种集成的财务管理能力，将原本碎片化、高摩擦的资金处理流程转变为集中、高 效的协同操作，实质 ...

在技术层面，PingPong自主研发的智能全球资金路由中心，能根据客户需求、业务场景和资金全球分 布，自动选择最优最短的资金路径；通过智能路由系统和在全球71个国家及地区部署的本地清算通道， 成功将跨境资金到账时效缩短至分钟级。 作为享誉全球的跨境支付服务企业，PingPong在确保合规的前提下，以技术作为提升支付效率的核心驱 动力。近年来，PingPong先后获得马来西亚中央银行MSB牌照和阿联酋央行支付牌照的原则性批准； 目前其合规服务网络覆盖中国、美国、加拿大、欧盟、英国、日本、印尼等全球多个国家和地区并持有 60多张支付类牌照和许可。 当前，全球贸易格局正经历一场深刻的数字变革。人工智能、大数据等技术的加速创新与融入，正推动 国际贸易的模式、结构与规则发生转变，数字贸易已成为全球贸易增长中最具活力的部分 近日，在PingPong举办的"品牌出海CXO闭门私享会"上，创始人兼CEO陈宇指出，中国品牌的全球化竞 争正从产品、营销等表层竞争，下沉至科技赋能与合规基建的深层较量。与此同时，会上PingPong正式 官宣了大型连锁品牌全球综合管理方案及《东南亚连锁品牌数字化实地观察》白皮书，并宣布未来持续 升级 ...

两类常见骗局 B2B跨境支付头部平台XTransfer方面指出，这类骗局主要有两类，一类是被动卷入洗钱案，买家（或其 实控的非法渠道）通过地下钱庄、非正规汇兑平台等渠道支付货款，这些资金本身涉嫌洗钱、诈骗等上 游犯罪。外贸企业在不知情的情况下收到款项并发货。可能导致银行账户被司法冻结，需配合调查；资 金可能被强制划扣；严重者可能影响征信，甚至承担法律责任。 另一类是"境外订货多付款退回"，诈骗骗子伪装成海外买家，下订单后通过非法渠道支付一笔远高于货 款的款项，然后以"操作失误"为由，要求你将多出的部分转账至其指定的第三方账户。实质上是在利用 你的账户进行洗钱或资金转移。一旦照办，你不仅损失了"退回"的钱，原货款也可能因其是赃款而被追 缴，导致钱货两空，并卷入案件。 博兴县公安局在公众号发文指出，骗子会刻意要求商家将多余货款退回其提供的"私人账户""第三方中 转账户"，而非自己的订货付款账户。实际上，这些账户内的"多付货款"多为非法资金或其他受害人的 被骗款，商家一旦转账，后续不仅会因"接收涉案资金"面临调查，已退回的款项也难以追回。 中经记者 郝亚娟 夏欣 上海、北京报道 临近年底，正值外贸企业回款旺季，部分 ...

Core Insights - The "New Consumption Conference" highlighted the trend of Chinese brands expanding internationally, with a focus on brand and cultural globalization as a core strategy for growth [1][2] - The conference discussed whether going global is a necessary path for companies or a strategic choice that requires careful consideration [1] - The growth opportunities presented by international markets are a significant attraction for companies looking to expand [2] Group 1: Reasons for Going Global - Chinese brands are increasingly seeking to expand internationally as their domestic market capabilities reach saturation, transitioning from seeking initial profits to leveraging their established competencies [1][2] - The need for Chinese brands in the global market is evident, as international consumers are increasingly recognizing and requiring Chinese products [2] - Companies like MOVA have set global market entry as a strategic goal from their inception, indicating a shift towards long-term global competitiveness [3] Group 2: Challenges and Strategies - Establishing a global brand is challenging, with the primary hurdle being consumer understanding and acceptance of "Brand from China" [3][4] - Companies must adapt their products and branding strategies to local markets, as relying solely on product offerings can lead to vulnerability in competitive pricing environments [4] - The lifecycle of international expansion involves initial market intelligence gathering, followed by operational integration with local suppliers and customers [4] Group 3: Market Trends and Future Outlook - Southeast Asia is becoming a key market for Chinese brands, with Malaysia and Vietnam identified as primary targets for expansion [4] - The trend of Chinese brands going global is evolving from an optional strategy to a necessary capability, emphasizing the importance of product localization and operational depth [4] - The future of international expansion will require companies to build local supply chains and adapt to regional consumer preferences to ensure sustainable growth [4]

在韩国首尔的明洞商业区，每方土地都有"寸土寸金"的味道。街区的两旁是整齐的商铺，从阿迪达斯等国际品牌到韩国潮牌、美妆品牌等应有尽有，代表着 韩国年轻一代的最新潮流。街区的步道上，同样有两排"商区"，是密密麻麻的小摊，冒着各类小吃的热气。 "以前语言不通，遇到海外客人不知如何交流，自从2023年接入支付宝和Alipay+后变得很方便，小摊销量增加了三倍，"明洞夜市上，一位网红年糕摊主对 记者表示。记者从蚂蚁国际了解到，今年1–11月，海外游客通过Alipay+支持的电子钱包，在明洞商业街产生的消费额同比上涨近626%。 走进韩国各个潮流店，无论是信用卡还是扫码支付都已是寻常。但在明洞的这条热闹街区上，步道上的近200家小摊贩仍以现金交易为主，Alipay+是它们唯 一的非现金支付方式。 韩国央行2025年发布的数据显示，2024年韩国居民的信用卡使用占比达46.2%，借记卡以16.4%的占比位居第二，现金使用比例为15.9%。此外，近年来韩国 迅速发展的电子钱包中，KakaoPay、Naver Pay与Samsung Pay等本土钱包合计占据约70%的交易量。 这样一个支付卡体系高度成熟且本土化的市场，给支付宝 ...