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Hisense Jia Shaoqian: Brand building is very hard work, which requires long-term persistence and a lot of money. The annual meeting of Caijing 2025: Forecast and Strategy and 2024 Global Wealth Management Forum was held in Beijing from December 13th to December 15th. Jia Shaoqian, Chairman of Hisense Group, delivered a speech. Jia Shaoqian pointed out that whether it is globalization or transformation, the key to the success of strategy lies in persistence and implementation to the end. He bluntly said that branding is a very hard job, which requires long-term persistence and a lot of money. Hisense firmly believes in the power of brands, that brands are the future of enterprises, and that there is no internationalization of Hisense without the internationalization of brands. "Especially when most China enterprises take advantage of the dividends from entering the market and borrow ships to go out to sea through OEM to make quick money, Hisense voluntarily gave up OEM and chose the most difficult shipbuilding to go out to sea, that is, resolutely went to the high end and invested a lot of money, people and resources in brand building, especially in corporate marketing." He said. (Rui Jian)10 yuan has to be paid more for mobile phone payment at a toll station in Changchun. The official has set up a joint investigation team. According to Jiupai News, on December 11th, a truck driver posted a message on the social platform, saying that when passing through Nanwaizi Toll Station on G102 National Road, the cash charge for the truck at the toll station is 30 yuan, and the payment by WeChat is 40 yuan. On December 13th, the staff of Changchun Highway Management Office told Green Hornet that the discipline inspection team of Jilin Provincial Highway Bureau, Changchun Municipal Transportation Bureau and Changchun Highway Management Office had formed a joint investigation team to investigate and rectify such problems in all toll stations within the jurisdiction of Changchun City. The staff said: "It is wrong for the toll collector to accept 30 yuan. That car is 40 yuan's car, and it is inaccurate to judge the model. The deputy stationmaster, the squad leader and the toll collector involved in the duty stopped working and were investigated. " "No matter whether it is less or more, it will be strictly dealt with." The staff member said that the investigation team will strictly investigate the problem of not charging according to the model of the toll station.Liao Min held video talks with the heads of sovereign credit rating teams of international credit rating companies. Recently, Vice Minister of Finance Liao Min held video talks with Mary Duron, global head of Moody's Sovereignty and Local Government Risk Department, and Roberto Xifeng-Arevalo, global head of Standard & Poor's Sovereignty Rating Team, respectively, to introduce the latest incremental policies of the China government, and exchanged views with each other on issues such as government debt management, fiscal sustainability, fiscal policy supporting the high-quality development of the real economy, and fiscal and taxation system reform. Both Moody's and Standard & Poor's said that the introduction of the Ministry of Finance was comprehensive and frank, which was very helpful for them to deepen their understanding of the macro policies of the China government, and they looked forward to more exchanges between the two sides. (Ministry of Finance)

During the policy landing period, the market may become a structural market, which is expected to further benefit the performance of high-interest stocks. On December 13, the Standard & Poor's dividend ETF(562060) closed down by 1.93%, with a turnover of 35.7287 million yuan. Puyin International pointed out that next year, before the two sessions next year, it will enter the policy landing period, and more detailed policies will be gradually implemented. The superimposed overseas uncertainty may increase with Trump's coming to power, so we expect the market to present a structural market. Based on the profit growth rate, capital stock, liquidity and market sentiment, the overall performance of A shares may be more stable than that of overseas Chinese shares. Investment trading strategy suggests both offensive and defensive. When the market sentiment improves and the stock index rebounds, it is expected that the high beta sector, such as non-bank finance, optional and mandatory consumption, real estate and other sectors and individual stocks may be more elastic. When the market sentiment is low and the stock index fluctuates downward, funds may prefer more defensive sectors, such as telecommunications services. There are many high-quality and high-interest stocks in the defensive sector. There is still room for the Bank of China to cut interest rates further next year, which is expected to further benefit the performance of high-interest stocks.Wuzhou Spring today bought 101 million yuan and sold 140 million yuan on Shanghai Stock Connect. Wuzhou Spring today traded at a daily limit, with a turnover of 4.335 billion yuan and a turnover rate of 35.76%. After-hours data showed that Ningbo Sangtian Road mat bought 77.1945 million yuan, and Shanghai Stock Connect special seats bought 101 million yuan and sold 140 million yuan.Citigroup: The target price of Illumina is lowered from $190 to $165, and the rating is lowered from "buy" to "neutral".

Citigroup: Raise the target price of Autozone from $3,500 to $3,900, and maintain the "buy" rating.Barclays: The Central Economic Work Conference released more signals of policy support, which was held in Beijing from December 11th to 12th. The Barclays research team said that the Central Economic Work Conference provided more forward-looking guidance and released more policy support signals. Barclays said that on the whole, the meeting made it clear that "stable economic growth should be maintained next year" and emphasized "implementing more active macro policies" and "vigorously boosting consumption". The agency believes that regulators are more likely to introduce policies in a gradual manner. At the same time, when measuring the rhythm, scale and composition of the next round of measures, we should focus on the development and changes of real estate and stock market. Barclays expects that a more specific financial plan will be announced in March next year. In terms of monetary policy, the meeting proposed to implement a "moderately loose monetary policy". Barclays believes that this change in wording and position has released a positive signal, especially considering the current environment, it is expected that the central bank may cut interest rates significantly in the future. (SSE)European stocks opened slightly lower, with the Stoxx 50 index in Europe down 0.1%, DAX index in Germany up 0.2%, FTSE 100 index in Britain down 0.1% and CAC 40 index in France down 0.1%.