Key Points - The National Development and Reform Commission (NDRC) has issued a list of early batch "two heavy" construction projects for 2026, with a total investment plan of approximately 295 billion yuan, aimed at accelerating the pace of fund allocation and utilization [2] - In December, the manufacturing Purchasing Managers' Index (PMI), non-manufacturing business activity index, and comprehensive PMI output index rose to 50.1%, 50.2%, and 50.7% respectively, indicating an overall recovery in economic sentiment [2] - The Ministry of Commerce announced a notification regarding the implementation of a three-year safeguard measure on imported beef starting from January 1, 2026, due to significant damage to the domestic industry [3] - The China Securities Regulatory Commission (CSRC) is exploring innovative products such as REITs ETFs to enhance the development of the real estate investment trust market [4] - The State Grid Corporation of China aims to enhance the optimization of power grid resources by 2030, with a target of over 420 million kilowatts for "West-to-East Power Transmission" and a renewable energy generation share of around 30% [5] - The Ministry of Commerce reported a steady growth in service trade, with total service import and export amounting to 72,023.7 million yuan, reflecting a year-on-year increase of 7.1% [5]

Group 1 - The Shenzhen Stock Exchange (SZSE) hosted the 2025 Global Investor Conference, emphasizing that investing in China equates to investing in the future [1] - SZSE's ETF market has surpassed 1 trillion yuan, attracting over 360 billion yuan in new funds in 2024, with the number of ETF holders reaching 4.65 million, a 43% year-on-year increase [1][2] - The SZSE is focused on high-quality ETF market development, with 99% of ETFs having liquidity service providers and plans to lower management and custody fees for 26 ETFs, benefiting investors by over 1 billion yuan annually [2] Group 2 - The current market conditions suggest a shift from traditional markets to China, with investors seeking growth potential and stable policies, as evidenced by the strong performance of the Hang Seng Tech Index, which rose 18% [3] - ETFs are highlighted as key tools for asset allocation, providing high liquidity and low costs, allowing investors to capture opportunities in Asia and China amid a weakening dollar [3] - The SZSE plans to diversify its fund market offerings, including multi-asset ETFs, technology innovation bond ETFs, and REITs ETFs, while also developing more broad-based and thematic ETF options [2]