Group 1 - In 2025, nine major central banks, including the Federal Reserve and the European Central Bank, opted for interest rate cuts, while the Bank of Japan raised rates twice [3] - The Federal Reserve maintained a loose monetary policy in 2025, implementing three rate cuts of 25 basis points each in September, October, and December, and announced the end of its balance sheet reduction plan [3] - The A-share market saw significant growth, with the Shanghai Composite Index rising 18.62%, the Shenzhen Component Index increasing by 30.66%, and the ChiNext Index surging by 50.99% from January 1 to December 26, 2025 [7] Group 2 - The return of Trump to the presidency on January 20, 2025, initiated a "reciprocal tariff" policy that disrupted global trade and financial markets, leading to inflationary pressures in multiple countries [10] - The influx of southbound capital into the Hong Kong stock market reached a record high, with a net inflow of 1.4 trillion HKD, marking a more than 70% increase from 2024 [12] - Nvidia became the world's first company to surpass a market capitalization of 5 trillion USD, with its stock price increasing over 40% in 2025 [14] Group 3 - The A-share market broke the 4000-point mark for the first time in ten years on October 29, 2025, marking a significant recovery since the 2015 market adjustment [16] - Warren Buffett announced his retirement as CEO of Berkshire Hathaway, marking the end of an era in the investment world, while also accelerating his philanthropic efforts [18] - The Hong Kong IPO market showed strong recovery, with total financing reaching 274.6 billion HKD (approximately 35.2 billion USD) by December 19, 2025, making it the largest globally [20] Group 4 - The US stock market reached historical highs, with the Philadelphia Semiconductor Index rising nearly 45% and the major tech stocks index increasing by about 22% in 2025 [23] - The commodity market experienced a "super bull market," with gold prices rising sharply, surpassing 4500 USD per ounce by December 23, 2025, and silver futures also reaching historical highs [26]

Core Viewpoint - The article discusses the contrasting positions of major tech companies regarding the EU's General AI Act and the voluntary AI Code of Conduct, highlighting the implications for innovation and regulatory compliance in the AI sector [1][4][7]. Group 1: EU AI Regulation and Industry Response - The EU's General AI Act will come into effect on August 2, 2025, with key provisions affecting general AI models [1][8]. - Over 45 influential European companies have called for a two-year pause on the strictest requirements of the AI Act, expressing concerns that current regulations may hinder innovation and competitiveness [8][9]. - Meta is the only major tech company to explicitly refuse to sign the AI Code of Conduct, citing legal uncertainties and additional requirements beyond the AI Act [6][9]. Group 2: Company Positions on the AI Code of Conduct - French AI company Mistral was the first to commit to the AI Code of Conduct, followed by OpenAI, which emphasized the importance of simplifying regulatory requirements [5][6]. - Anthropic also announced plans to sign the Code, highlighting its commitment to transparency and accountability in AI development [5][6]. - Microsoft indicated a strong likelihood of signing the Code, aiming to play a rational role in AI governance amid geopolitical tensions [6]. Group 3: Regulatory Challenges and Industry Concerns - The EU's AI Act employs a risk-based regulatory model, imposing strict limitations on high-risk AI applications while requiring transparency and accountability from other AI systems [8][10]. - Critics argue that the EU's regulatory approach may stifle innovation, with many small and medium enterprises facing burdensome administrative processes [10]. - The EU is working on proposals to streamline conflicting legal requirements and reduce compliance burdens, aiming to create a more favorable environment for innovation in AI [10].

Core Viewpoint - Meta warns that the EU's AI regulations will stifle technological innovation and claims that Europe is heading in the wrong direction regarding AI [1] Group 1: EU AI Regulations - The EU's AI Act, which includes key provisions for general AI models, will officially take effect on August 2 [1] - The EU Commission released the "General AI Code of Conduct" on July 10, which provides a non-binding framework for AI companies to comply with the AI Act [1][4] - Over 45 influential European companies have called for a two-year suspension of the most stringent requirements of the AI Act due to concerns about excessive regulation [1][7] Group 2: Company Responses - French AI company Mistral was the first to commit to the General AI Code of Conduct, followed by OpenAI and Anthropic, while Meta has explicitly refused to sign [4][5] - OpenAI emphasized the importance of the EU market for its business and called for simplification of the regulatory framework [5] - Meta's global affairs head, Joel Kaplan, stated that the code introduces legal uncertainties and additional requirements beyond the AI Act [5][6] Group 3: Industry Concerns - The AI Act employs a risk-based regulatory model, imposing strict limitations on high-risk AI applications and requiring transparency and accountability [7] - Industry leaders, including Airbus and Siemens Energy, have expressed that the current regulatory path could severely undermine Europe's innovation and competitiveness [7][8] - The EU Commission remains firm on its implementation timeline despite industry pushback, with concerns that bureaucratic processes hinder AI development [9][10]

Group 1 - Meta Platforms has refused to sign the EU's AI Code of Conduct, citing concerns over "overregulation" that could stifle innovation [1] - Joel Kaplan, Meta's global affairs head, criticized the EU's approach to AI regulation, stating it introduces legal uncertainties and exceeds the original intent of the AI Act [1] - The EU's AI Code of Conduct, which is set to take effect next month, is a voluntary framework aimed at enhancing transparency and safety for general AI models [1] Group 2 - Other tech giants, including ASML and Airbus, have also expressed opposition to the new regulations, advocating for a two-year delay in implementation [1] - Kaplan aligned with these companies' concerns, arguing that excessive regulation would hinder the development and deployment of advanced AI models in Europe [1] - In contrast, OpenAI has committed to signing the new code, showcasing a differing stance within the industry [1]