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Ministry of Commerce: Make efforts to expand the scope, implement the trade-in policy of consumer goods and innovate diversified consumption scenarios. On December 13th, Wang Wentao, Party Secretary and Minister of the Ministry of Commerce, presided over a special meeting of the party group to convey the spirit of studying the Central Economic Work Conference. The meeting stressed that it is necessary to vigorously boost consumption. We will intensify efforts to expand the scope, implement the trade-in policy for consumer goods, innovate diversified consumption scenarios, expand service consumption, and actively develop the first-round economy. It is necessary to expand high-level opening to the outside world and stabilize foreign trade and foreign investment. We will expand independent opening and unilateral opening in an orderly manner, steadily expand institutional opening, and promote the free trade pilot zone to improve quality and efficiency and expand the reform mandate. Efforts should be made to stabilize trade in goods and actively develop service trade, green trade and digital trade. We will deepen the reform of foreign investment promotion system and mechanism, steadily push forward the opening of service industry, expand the pilot projects in the fields of telecommunications, medical care and education, and continue to build the brand of "Investing in China". Promote high-quality joint construction of the "Belt and Road", deepen and improve the overseas comprehensive service system.Broadcom is developing customized AI chips with three large cloud customers. Broadcom's share price rose by more than 20% at the beginning, and its total market value rose to 1.02 trillion US dollars, ranking ninth in the US stock market. After the close of the US Eastern Time on Thursday, Broadcom announced a better-than-expected fourth-quarter financial report. Not only did the profit performance be better than expected, but Broadcom's artificial intelligence revenue more than tripled this year. Broadcom's AI revenue increased by 220% to US$ 12.2 billion this year. It is estimated that the revenue of AI products will increase by 65% in the first fiscal quarter of fiscal year 2025. The CEO of Broadcom revealed that he is developing customized AI chips with three large cloud customers. It is estimated that each customer will deploy 1 million AI chips in 2027.Liard: In the future, it is possible to integrate algorithms with AI chips to improve the control ability of robot limbs. Liard said on the conference call that the company has actually been an optical camera for many years, and the technology of this company is still relatively mature. This belongs to the hardware. In the future, it is possible to integrate the algorithm with the current AI chip more. After the integration of this chip with partners, the local computing power of the robot will be improved, and then the limb control ability of the robot will be improved.

The Shanghai-Kunming Railway's relocation line in Songjiang section was fully connected. At 4: 33 on December 13th, the Shanghai-Kunming Railway's relocation line in Songjiang section was fully connected, marking the completion of the Shanghai-Kunming Railway's relocation project in Songjiang and its successful introduction to Shanghai Songjiang Station. Shanghai Songjiang Station has become a large-scale station where Shanghai-Suzhou-Lake high-speed railway, Shanghai-Kunming high-speed railway and Shanghai-Kunming railway stand side by side. In the future, both high-speed railway and ordinary-speed passenger transport services will be launched. (released in Shanghai)The average auction yield of 25-day cash management bills in Canada is 3.276%.Sources: Leaders of Germany, France, Poland, NATO and other countries will meet in Brussels on Wednesday to discuss Ukraine. Zelensky will also attend the Ukrainian meeting.

Huatai Research gave JD.COM Group the initial rating of H-share purchase with a target price of HK$ 182.73.Analysis: Two major factors, disposal of non-performing assets and resolution of local debts, affect the total financial data. According to the analysis of market institutions, the financial data of the current month are greatly influenced by disposal of non-performing assets and resolution of local debts. The reform of financial institutions has been carried out in an orderly manner, and the disposal of non-performing assets of commercial banks has pressed the "acceleration button". According to industry insiders, the write-off of non-performing loans is only a bank accounting treatment, and the lending relationship between banks and enterprises has not changed, which does not directly affect the business activities of the real economy. In November, some non-performing loans were sold through packaging, transfer and sale, so that non-performing assets were listed as a whole. This part is not included in the scale of social financing, which will have a certain impact on the growth rate of social financing scale, but it will also not affect the financing relationship of the real economy. In addition, the intensity of localized debts has increased, and local governments may accelerate the replacement of debts in the short term, affecting the credit stock. It is understood that the Ministry of Finance has issued new local debt limits to all localities, and some provinces have started issuing them. At present, the total amount of special bonds issued by local governments in China has basically reached the planned annual issuance quota. According to market research, after the financing platform and other entities get the special debt funds, most of them will repay the debts in about 10 to 20 days, most of which are loans, so as to avoid "paying interest at both ends" of bonds and loans. It is estimated that nearly 250 billion yuan of local bond swap will be completed nationwide in November, and there will be a larger bond swap in December. According to industry insiders, for local governments, after the debt pressure is released slowly, it is more conducive to the development of the real economy, which is good for relieving the debt chain, smoothing the economic cycle and preventing risks, and has multiple positive effects. (The country is a through train)The European Central Bank announced the change in the data release of the Emergency Anti-epidemic Bond Purchase Program (PEPP). The European Central Bank said that on December 5, 2024, the Management Committee approved the change in the data release of the monetary policy portfolio under the Emergency Anti-epidemic Bond Purchase Program (PEPP), because with the time to suspend reinvestment under the Emergency Anti-epidemic Bond Purchase Program (PEPP) at the end of 2024 approaching, the euro system will not be in the asset purchase program or emergency anti-epidemic for the first time since 2014. Predictable changes will ensure that the level of transparency provided by future published data remains appropriate. It is reported that the data of the Emergency Anti-epidemic Bond Purchase Program (PEPP) will be released once a month instead of once every two months to match the equivalent asset purchase program data series, and the series of historical monthly data since the launch of the program will be released. The release systems of emergency anti-epidemic bond purchase plan (PEPP) and asset purchase plan will be further aligned, including the release of retrospective and prospective redemption data of PEPP. The change will be implemented from January 8, 2025.