Liu Shijin: To expand consumption, we should manage from the source, and give priority to improving basic public services and consumption of low-and middle-income groups. Liu Shijin, deputy director of the 13th Chinese People's Political Consultative Conference Economic Commission and former deputy director of the the State Council Development Research Center, pointed out in his speech at the main forum of the 2024 Southern Finance and Economics International Forum that the macro-economy is picking up, but it is also facing the increasing pressure of insufficient total demand, especially insufficient consumer demand, and the focus of which is insufficient service consumption. We should give priority to improving basic public services and the consumption environment of low-and middle-income groups through "source governance" to promote the integrated development of urban and rural areas. On the basis of short-term stimulus policies, combined with medium-and long-term reforms, we will solve the institutional problems that restrict the expansion of consumption and help China's economy achieve high-quality development. "At present, it is necessary to distinguish the problems caused by insufficient demand from the causes of insufficient demand." Liu Shijin pointed out that from the perspective of international comparison, the lack of consumption demand in China at this stage is a structural deviation. In Liu Shijin's view, it is necessary to identify the key points or pain points in expanding consumer demand at this stage. First, service consumption based on basic public services, including education, medical and health care, affordable housing, social security, culture, sports and entertainment, financial services, transportation and communication; Second, the middle and low-income class with migrant workers as the focus; Third, people-centered, urbanization and urban-rural integration. (21 Finance)Yijia released the chip-level game technology of "Fengchi Game Kernel" developed by OPPO, and Li Jie, president of China District, released the chip-level game technology of "Fengchi Game Kernel" developed by OPPO. Through the thorough reconstruction of the underlying kernel, the "Fengchi Game Kernel" can accurately balance the performance supply of the chip and the performance requirements of the game, and achieve a substantial upgrade in performance and game experience. For the underlying kernel of Android, more than 25,000 lines of original code are provided. In terms of game rendering pipeline reconstruction, it provides more than 34 thousand lines of original code. OPPO has applied for 254 patents based on the cumulative game optimization of Fengchi game kernel.Assistant Foreign Minister Liu Bin attended and delivered a speech at the high-level meeting of "Friends of Neutrality" in Turkmenistan. On December 11, 2024, Assistant Foreign Minister Liu Bin attended and delivered a speech at the high-level meeting of "Friends of Neutrality" in Turkmenistan. Liu Bin pointed out that China is willing to join hands with Turkey, international organizations represented by the United Nations and other countries in the world to promote the construction of a beautiful world with lasting peace, universal security, common prosperity, openness, tolerance, cleanliness and beauty. Representatives from Russia, Kazakhstan, Iran, Qatar and other countries and UN officials attended the meeting.
ING is bearish on the prospect of commodities next year. It is expected that gold will outshine others. ING said that energy and commodities will be under pressure next year, while the prospect of gold is still bright. According to ING, due to geopolitical concerns, the price of gold is bound to continue this year's record high, and the average price of gold in 2025 will rise from about $2,713 per ounce at present to $2,760 per ounce. Most of the buying will come from central banks seeking diversification of foreign exchange reserves, and the intensification of trade and geopolitical frictions may increase the safe-haven appeal of gold.Zelensky's office stated that it was ready to negotiate with Russia. Mikhail Podolyak, adviser to the director of Ukrainian President Zelensky's office, said in an interview with Channel 24 that Kiev was ready to negotiate with Russia. He pointed out that simple solutions should not be expected, and Ukraine needs just peace conditions. Earlier, Kremlin spokesman dmitry Peskov said that Russia was willing to negotiate with Ukraine provided that the conditions proposed by Russian President Vladimir Putin were met. The conditions mentioned include the complete withdrawal of Ukrainian troops from new Russian regions and Ukraine's neutrality.On December 12, the average price of pork in the national agricultural products wholesale market was 23.14 yuan/kg, which was the same as yesterday. According to the monitoring of the Ministry of Agriculture and Rural Affairs, the "200 Index of Agricultural Products Wholesale Price" was 121.01 on December 12, up 0.07 points from yesterday, and the wholesale price index of "vegetable basket" products was 122.15, up 0.08 points from yesterday. As of 14:00 today, the average price of pork in the national agricultural products wholesale market was 23.14 yuan/kg, which was the same as yesterday; Beef is 60.10 yuan/kg, down 0.4% from yesterday; Mutton 59.19 yuan/kg, up 0.2% from yesterday; Eggs are 10.19 yuan/kg, up 0.2% from yesterday; White striped chicken was 17.74 yuan/kg, down 0.5% from yesterday. The average price of 28 kinds of vegetables monitored is 5.02 yuan/kg, up 0.2% from yesterday; The average price of six kinds of fruits monitored is 7.15 yuan/kg, down 0.4% from yesterday. Crucian carp 19.28 yuan/kg, down 1.6% from yesterday; Carp 14.30 yuan/kg, down 0.6% from yesterday; Silver carp 10.10 yuan/kg, down 3.3% from yesterday; Hairtail is 41.11 yuan/kg, up 1.3% from yesterday.
Russia is willing to engage with the United States on the Ukrainian issue. Russian Foreign Ministry spokesman Zacharova said at a regular press conference on the 11th that Russia is willing to engage with the United States on the Ukrainian issue, but has not received any "serious suggestions" from the team of President-elect Trump.The Environmental Protection Department of the National Development and Reform Commission organized the liaison meeting of the coordination mechanism of cleaner production promotion departments in 2024. On the afternoon of December 10th, the Environmental Protection Department of the National Development and Reform Commission organized the liaison meeting of the coordination mechanism of cleaner production promotion departments in 2024 to sort out and summarize the latest progress, existing problems and difficulties in the implementation of cleaner production in 2024, study the key tasks in 2025, and promote the completion of the objectives and tasks of the Tenth Five-Year Plan.Huachuang Securities: It was first rated as "recommended" by Zangge Mining, with a target price of 33.3 yuan. Huachuang Securities Research Report pointed out that Zangge Mining (000408.SZ) is an important producer of potassium lithium salt and copper in China, with a high dividend return to shareholders. The company actively arranges high-quality potash resources at home and abroad: three major projects, namely, Heibei potash mine in Dalangtan, Alkali-Shishan potash mine and the eastern part of deep brine potash mine in Xiaoliangshan-Dafengshan area, are steadily promoted in China, with a total exploration right of 1,400 square kilometers; Overseas has signed a potash exploration agreement with Laos. At present, the exploration report and potash mine reserve certificate have been obtained. It is estimated that the total amount of potassium chloride resources in Setani County and Ba 'e County is 984 million tons. It is estimated that the output of the first phase of potassium chloride project will be 1 million tons/year, and the scale of potassium chloride production is expected to double in the future. The company is an important manufacturer of potassium and lithium in China, and Julong Copper is expected to inject strong kinetic energy into the company's growth. Considering that Mamicho Mining has not been consolidated at present, it is estimated that the company will realize a net profit of 25.0/27.7/4.29 billion yuan in 24-26 years, which is -27%, +11% and +54.9% respectively. In 2025, it can be compared with the company's average valuation of 19 times, giving the company a valuation of 19 times in 2025, corresponding to the target price of 33.3 yuan, covering for the first time and giving a "recommended" rating.