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Caitong Securities: It is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025. According to Chen Xing, the macro chief analyst of Caitong Securities, from the current situation, the economic operation has been generally stable this year, and the key areas of risks have also been resolved in an orderly and effective manner. The meeting has confidence in this year's economic performance, and it is expected that the main objectives and tasks of economic and social development will be successfully completed throughout the year. From the perspective of future deployment, first, the positive attitude is unprecedented. The meeting mentioned that the policy will be more active and promising, and on the basis of counter-cyclical adjustment, it emphasized that the intensity should be "extraordinary" to offset "external shocks". We will implement a more proactive fiscal policy and a moderately loose monetary policy. Second, pay more attention to the actual effect of policies, not only to strengthen the forward-looking, targeted and effective regulation at the macro level, but also to promote the effectiveness of landmark reform measures in specific measures. Third, pay more attention to systematicness, emphasize "system integration and coordination", improve the toolbox, lay a good policy "combination boxing" and stabilize expectations.Polls show that the cabinet support rate of Japanese Prime Minister Shi Pomao dropped to 38%. According to reports, the results of a nationwide poll conducted by the agency from 6 to 8 this month showed that the cabinet support rate of Prime Minister Shi Pomao was 38%, which was 3 percentage points lower than the previous poll of the agency. The disapproval rate was 38%, which was 1 percentage point higher than the previous poll.According to senior officials, Israel will destroy heavy strategic weapons throughout Syria and continue to carry out air strikes in the next few days. According to reports in Reuters, senior Israeli officials said on the 9th local time that Israel will intensify air strikes against Syria's advanced arsenal and keep "limited" troops stationed on the ground, hoping to eliminate any threat that may occur after the overthrow of the Assad regime. According to the report, Israeli Defense Minister Katz said that the Israeli army will "destroy heavy strategic weapons throughout Syria, including surface-to-air missiles, air defense systems, surface-to-surface missiles, cruise missiles, long-range rockets and coastal missiles". The report quoted a senior Israeli official as saying that air strikes will continue in the next few days. Israeli Foreign Minister Saar said that Israel has no intention of interfering in Syria's internal affairs and only cares about defending its citizens. (World Wide Web)

The Gansu Provincial Department of Transportation launched a Class IV defense response to low-temperature rain, snow and freezing disasters, and the Lanzhou Central Meteorological Observatory issued a blue warning of blizzard at 10: 34 on December 9: It is expected that there will be heavy snow in Lanzhou, Baiyin, Dingxi, Linxia and other cities and States, as well as northern Gannan, western Tianshui, western Pingliang, western Qingyang, southern Zhangye and southern Wuwei from 15: 00 on the 9 th to 20: 00 on the 10 th; Blizzard will appear in southern Linxia, western Dingxi, southern Lanzhou and central Baiyin. According to the relevant provisions of "Emergency Plan for Highway Traffic Security in Gansu Province" and "Comprehensive Emergency Plan for Transportation in Gansu Province", the Gansu Provincial Department of Transportation decided to start the level IV defense response to the freezing rain, snow and ice disaster of transportation at 20: 00 on December 9.Market News: White House National Security Adviser jack sullivan is expected to visit Israel on Thursday to hold talks on Syrian and Gaza hostages and a ceasefire agreement.Huaxi Securities Interpretation of the Political Bureau Meeting in December: The policy strength showed an upward trend. The Huaxi Securities Research Report pointed out that the release signal of this meeting was positive. Judging from the significant strength of Hong Kong stocks and A50 futures, the content of the meeting greatly exceeded previous market expectations. There are mainly the following aspects: First, the policy tone is more positive. "Strengthening unconventional countercyclical adjustment", which is used to describe countercyclical adjustment for the first time, reflects the upward trend of policy strength. The policy of this year's two sessions is expressed as "strengthening countercyclical and cross-cyclical adjustment of macro policies", the Politburo meeting in July "strengthening countercyclical adjustment" and the Politburo meeting in September "strengthening countercyclical adjustment". From the point of view of change, it gradually turns to counter-cycle instead of cross-cycle, and the intensity is constantly upgrading. Create a follow-up policy for the market that may continue to be introduced until the economy stabilizes and rebounds. At the same time, the meeting did not mention "coordinating the expansion of domestic demand and deepening the structural reform of the supply side", but directly mentioned the expansion of domestic demand, which is also a manifestation of facing the problem more directly and attaching importance to the demand side. Second, as far as finance and money are concerned, this meeting mentioned "implementing a more active fiscal policy and a moderately loose monetary policy", and the modifier "more" was added in front of the active fiscal policy. A similar expression was found in the Politburo meeting in April 2020, "The active fiscal policy should be more active and promising", and then in May, the two sessions formulated a large-scale fiscal combination boxing (deficit ratio 3.6%+, 3.75 trillion new special debts and 1 trillion special national debts). The third is to stabilize the property market and write the stock market into the 2025 goal. The fourth is to pay attention to consumption. The meeting mentioned "vigorously boosting consumption, improving investment efficiency and expanding domestic demand in all directions". It is expected that the policy of promoting consumption will make a breakthrough in scale and direction. Fifth, the meeting also mentioned science and technology (to lead the development of new quality productive forces with scientific and technological innovation and build a modern industrial system), green (to jointly promote carbon reduction, pollution reduction and green growth, and accelerate the overall green transformation of economic and social development) and foreign trade. Emphasizing science and technology, it is clear that the direction of future policy is in the industrial direction led by science and technology. At the same time, for green, because next year is the last year of the 14 th Five-Year Plan, emission reduction and other targets need to be completed. In terms of foreign trade and foreign investment, the meeting mentioned that "it is necessary to expand high-level opening to the outside world and stabilize foreign trade and foreign investment".

800 million time and space: it is planned to buy back shares of 50 million yuan to 100 million yuan. According to the announcement of 800 million time and space, it is planned to buy back shares of 50 million yuan to 100 million yuan. The source of funds is the company's own funds and the special loan for stock repurchase provided by CITIC Bank Beijing Branch, in which the amount of special loan does not exceed 70 million yuan. The repurchased shares are used for employee stock ownership plans or equity incentives at an appropriate time in the future. The repurchase price shall not exceed 41 yuan/share.USD/JPY rose more than 0.50% in the day and is now reported at 150.63.According to sources, Greece will repay the first batch of rescue loans of 7.9 billion euros in advance on December 13th.