Interpretation of Guangfa Strategy December Politburo Meeting: The change of policy tone "not seen for several years" is more direct to the determination to support the stability of the equity market and the real estate market. Guangfa Strategy Review December Politburo Meeting said that although the draft of the meeting did not involve specific economic target figures, the change of policy tone was "not seen for several years": (1) "Strengthening unconventional countercyclical adjustment" appeared for the first time in the draft of the conference, and we understand that this may well mean that the official target of deficit ratio will be unconventional. (2) "Moderately loose monetary policy" has reappeared since July 2010, and it has been "steady" during the period. Even in the 14-15 monetary easing cycle, there was no adjustment of this wording, which paved the way for the expectation of monetary easing in 25 years; (3) The "more active fiscal policy" has reappeared since July 2020. Under the special background of the 20-year epidemic, the official target of deficit ratio in that year was set at 3.6%, which was the highest since 2010. The change of tone after four years also indicates that the deficit space in 25 years is expected to be further opened. Specific to economic work, the first priority is to "expand domestic demand", and the expression of "stabilize the property market and stock market" is more straightforward: the importance of expanding domestic demand is unquestionable, which alleviates the concern of "whether to only resolve risks and lack demand stimulation" in the early stage of the market; In September, the Politburo meeting stated that the stock market should strive to boost the capital market and the property market should "promote the real estate market to stop falling and stabilize". This meeting was more direct in its determination to support the stability of the equity market and the real estate market.The main force of Brent crude oil futures rose 2.00% in the day to 72.45 US dollars/barrel.MicroStrategy once again bought more bitcoins, and its fund-raising attracted much attention. Today, MicroStrategy bought another $2.1 billion in bitcoins, and at the same time, the company sold a combination of stocks and fixed-income securities to fund the rapid increase in purchases, which attracted more and more attention. This is the fifth consecutive Monday that the company announced the purchase of digital assets. Michael Saylor, co-founder and chairman of the company, decided that this small enterprise software manufacturer needs to take a different road to survival. In the past four years, his accumulated bitcoin is currently worth more than $41 billion. In October this year, he announced plans to raise $42 billion in the next three years by selling stocks in the market and issuing convertible bonds, thus accelerating his strategic transformation. The danger now is that the year-long rebound of cryptocurrency may be reversed. In this case, leveraged bets on its value may have serious consequences for its owners.
Ministry of Finance: Leaders of international economic organizations are full of confidence in China's economic transformation and future. The Ministry of Finance held a briefing today (9th). Relevant leaders of the Ministry of Finance introduced the main situation of the "1+10" dialogue and answered questions from reporters. Liao Min, Vice Minister of Finance, said that the heads of international economic organizations are full of confidence in China's economic transformation and future, and expressed their willingness to strengthen cooperation with China to jointly safeguard the process of multilateralism and economic globalization. Liao Min introduced that the dialogue highlighted three key words: commitment, support and cooperation. Ten heads of international economic organizations participated in the dialogue, focusing on the theme of "building consensus on development and promoting global common prosperity", focusing on "seizing the opportunity of change, promoting the transformation and growth of the world economy", "upholding multilateralism, promoting the reform of the global economic governance system" and "China further comprehensively deepening reforms and opening up broad prospects for modernization" Liao Min said: "First, he reiterated his firm commitment to economic globalization and multilateralism; Second, it shows strong support for global economic growth and common development; Third, it has promoted the coordination and cooperation of international economic organizations. China is taking pragmatic and effective measures to intensify countercyclical adjustment, intensify the implementation of macro policies, and do everything possible to boost consumption; Further deepen reform in an all-round way, expand high-level opening to the outside world, and bring greater opportunities for world development. This is the greatest certainty of China's economy to the world economy. " Liao Min said that economic growth in all countries faces common and different challenges. Leaders of international economic organizations attending the meeting highly praised China's great progress in poverty reduction and development and its historic contribution to the world, affirmed and supported China's recent package of incremental policies, and hoped that China would continue to be a "stabilizer" and "power source" for global economic growth. Liao Min said: "We have stepped up counter-cyclical adjustment and taken pragmatic and effective measures to promote sustained economic recovery. The delegates affirmed China's positive progress in supporting economic growth and promoting structural adjustment. China is transforming from an investment-driven growth model to a consumption-and innovation-driven growth model. The successful transformation of China's economy will benefit the global economy. " Liao Min said that the contribution rate of China's economy to world economic growth has remained at around 30% for more than 10 years, and it is an important engine of global development. The underlying logic of China's economic upturn and the principle of benefiting the world have not changed, and it will continue to inject more certainty and predictability into the world economy with its own stable development. (CCTV News)A slum in Haiti was attacked by gangs, killing 184 people. On December 9, local time, the United Nations Human Rights Committee said that Haitian gangs attacked the Sun City community on the outskirts of Port-au-Prince from July 7 to 8, local time, killing 184 people. It is said that in this year's gang armed attacks, the death toll in Haiti was as high as 5,000. (CCTV News)The main force of Brent crude oil futures rose 2.00% in the day to 72.45 US dollars/barrel.
Hamas said that he stood with the Syrian people and condemned the repeated Israeli aggression against Syrian territory. On December 9, local time, Palestinian Islamic Resistance Movement (Hamas) issued a statement saying, "We firmly stand with the Syrian people and reaffirm our commitment to Syrian national unity and territorial integrity." Hamas also expressed the hope that all sectors of society will unite and get rid of the past difficulties. This is the first time that Hamas has made public comments since Syrian opposition forces captured Damascus, the Syrian capital. In addition, Hamas strongly condemned "repeated Israeli aggression against Syrian territory". (CCTV)A slum in Haiti was attacked by gangs, killing 184 people. On December 9, local time, the United Nations Human Rights Committee said that Haitian gangs attacked the Sun City community on the outskirts of Port-au-Prince from July 7 to 8, local time, killing 184 people. It is said that in this year's gang armed attacks, the death toll in Haiti was as high as 5,000. (CCTV News)USD/JPY of USD/JPY hit 151, rising by 0.75% in the day.
Strategy guide
12-13
Strategy guide
12-13
Strategy guide 12-13