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CITIC Jiantou interprets the Politburo meeting in December: it opens up the market's expectation of monetary easing space in 2025. CITIC Jiantou Research Report pointed out that there are six obvious expressions of the positive signal of the Politburo meeting in December: 1. "Implementing a more active and promising macro policy"; 2. "Stabilize the property market and stock market"; 3. "Strengthening unconventional counter-cyclical adjustment"; 4. "We should vigorously boost consumption"; 5. "More active fiscal policy"; 6. "moderately loose monetary policy". The most concerned is the last expression, "moderately loose monetary policy". For most of the time, the Politburo used the word "steady" to describe the currency. This time, it adopted the rare "moderate easing", which opened the market's expectation for the monetary easing space in 2025. The "liquidity trap" recently discussed in the market does not apply to China, and monetary easing can solve a considerable part of the problem of weak domestic demand. From the perspective of trend, observing the future domestic demand trend of China, what needs to be tracked most is the currency. From the short-term emotional point of view, "stabilizing the property market and stock market" will become a short-term market trading point.Armed representatives of the Syrian opposition: I hope to establish cooperative relations with the international community including Russia. Ahmed Toma, head of the armed delegation of the Syrian opposition in Astana talks on Syria, told the Russian media on the 9 th that the Syrian opposition is committed to establishing an independent democratic country in accordance with UN Security Council Resolution 2254 and hopes to establish cooperative relations based on mutual respect with all parties including Russia. Sputnik news agency & radio reported on the same day that Toma said in an interview with the satellite news agency that the Syrian opposition will devote itself to maintaining the operation of state institutions, ensuring security and improving people's livelihood in the future. "We hope to build a civilized, independent and democratic country according to UN Security Council Resolution 2254." Toma said that the Syrian opposition "hopes to achieve stability and has no intention of punishing anyone." (CCTV News)Bitcoin hit $98,000/piece, down 3.12% in the day.

 National Medical Products Administration publicly solicited opinions on the Announcement (Draft for Comment) on Simplifying the Registration and Approval of Traditional Oral Chinese Patent Medicines Listed in Hong Kong and Macao on the Mainland. According to the website of National Medical Products Administration, in order to implement the strategic plan of national construction in Guangdong-Hong Kong-Macao Greater Bay Area, further support the development of Chinese medicine in the Hong Kong Special Administrative Region and the Macao Special Administrative Region, and better integrate into the overall situation of national development, National Medical Products Administration drafted the Announcement (Draft for Comment) on Simplifying the Registration and Approval of Traditional Oral Chinese Patent Medicines Listed in Hong Kong and Macao on the Mainland, which is now open to the public for comments.Ramsden, deputy governor of the Bank of England: The relatively calm market conditions this year may lead to greater risks in the future; In view of the increasing uncertainty of the future, we must continue to be vigilant; We should monitor and evaluate the risks in the UK financial market and make use of our balance sheet when appropriate.

German Finance Minister: The influence of MERCOSUR agreement on German economy will be very positive, and trade relations will be more prosperous; The market reacted calmly to France; We hope to continue to establish constructive relations with Britain.Hua Fu Securities Interpretation of the Politburo Meeting in December: More incremental policies can be expected in the future. The Hua Fu Securities Research Report pointed out that the Politburo Meeting in December decided to implement more active and promising macro policies in economic work next year, which released major signals to the market, including: First, it proposed to implement a more active fiscal policy, which was also proposed in response to the impact of the COVID-19 epidemic in 2020. Second, it is proposed to implement a moderately loose monetary policy, which is more positive than the previous statement. Moreover, from the historical experience, the "moderately loose" monetary policy implemented in China after the last financial crisis in 2009-2010 has significantly enhanced its support for economic growth. This change in expression will send a clearer and clearer policy signal to the market. Third, it is proposed for the first time to strengthen unconventional countercyclical adjustment, and more incremental policies can be expected in the future. Fourth, after the policy adjustment, the expansion of domestic demand will be put in the first place, which highlights the importance and policy determination of expanding domestic demand next year. The follow-up consumption promotion policy may exert its efforts in many aspects, such as continuously promoting the trade-in of consumer goods, introducing incremental measures related to service consumption, and improving the support and protection of low-and middle-income people. Fifth, it is clearly proposed to stabilize the property market stock market, which will help to continuously consolidate the momentum of stabilization and recovery of the real estate market and give full play to the important functions of the capital market.The third batch of CSI A 500 ETFs under Rongtong, Puyin AXA and Yongying was approved and will be released soon. Less than two weeks after the report, the third batch of CSI A 500 ETFs got the approval. The reporter learned from the industry that the CSI A500ETF of many fund companies, including Rongtong Fund, Puyin AXA Fund, Yongying Fund, Haifutong Fund and Galaxy Fund, got the approval. Previously, nine fund companies reported the product. So far, more than 50 Public Offering of Fund managers have reported 107 products related to the CSI A500 Index. After excluding the linked funds, 22 CSI A500ETF have been issued and listed, with a current market scale of nearly 220 billion; Twenty-two products in CSI A500 index increase products have been approved for issuance; In addition, nearly 20 CSI A500 index products have been approved.