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Minister Wang Wentao met with WTO Director-General Ivira. On December 9, Minister of Commerce Wang Wentao met with WTO Director-General Ivira in Beijing. The two sides had an in-depth exchange of views on WTO reform and deepening cooperation between China and the WTO. Wang Wentao said that the reform of the WTO is of great significance in coping with common global challenges, and China is willing to make joint efforts with all parties to promote positive progress in the reform. China supports the WTO to achieve more results in the field of development and calls for the normal operation of the dispute settlement mechanism. China supports the early incorporation of the investment facilitation agreement into the WTO legal framework, the conclusion of the second-stage agreement on fishery subsidies, the conclusion of the negotiations on the joint statement on e-commerce, and the promotion of multilateral trade rules to keep pace with the times. (Ministry of Commerce)Minister Wang Wentao met with WTO Director-General Ivira. On December 9, Minister of Commerce Wang Wentao met with WTO Director-General Ivira in Beijing. The two sides had an in-depth exchange of views on WTO reform and deepening cooperation between China and the WTO. Wang Wentao said that the reform of the WTO is of great significance in coping with common global challenges, and China is willing to make joint efforts with all parties to promote positive progress in the reform. China supports the WTO to achieve more results in the field of development and calls for the normal operation of the dispute settlement mechanism. China supports the early incorporation of the investment facilitation agreement into the WTO legal framework, the conclusion of the second-stage agreement on fishery subsidies, the conclusion of the negotiations on the joint statement on e-commerce, and the promotion of multilateral trade rules to keep pace with the times. (Ministry of Commerce)Interpretation of the Political Bureau Meeting in December by CITIC Securities: It is estimated that the reverse repo rate will drop by 40-50bps next year, and the LPR and loan interest rates may drop even more. CITIC Securities Research Report pointed out that a new round of policy starting guns will be fired, and the policy inflection point will be reconfirmed, making it clear that the macro policy will be strengthened and effective in 2025. From the perspective of fiscal policy, the meeting called for the implementation of a "more active fiscal policy" and enriched the policy toolbox, which may indicate that in 2025, both deficit ratio in a narrow sense and deficit ratio in a broad sense will be significantly improved, and the focus of policy development is also expected to be marginal in the field of people's livelihood consumption. From the perspective of monetary policy, this Politburo meeting calls for the implementation of a moderately loose monetary policy. This is the first time that China has implemented a moderately loose monetary policy after 2010. It is estimated that the reverse repo rate will drop by 40-50bps next year, and the LPR and loan interest rates may drop even more. From the perspective of domestic demand policy, the statement of expanding domestic demand in an all-round way, especially "vigorously boosting consumption", exceeds market expectations. With the support of the existing policies coming into effect and the policy of increasing domestic demand, the improvement of domestic demand may have strong certainty and sustainability. In addition, in terms of structural policies, on the one hand, the meeting clearly stated that it is necessary to "stabilize the property market and the stock market", and the importance of the stock market continues to be highlighted, and real estate is still in the policy landing period; On the other hand, the meeting emphasized that "scientific and technological innovation leads the development of new quality productive forces", and new industries and future industries are expected to receive further policy support.

Ukraine's national natural gas transportation company said that on December 10th, Russia nominated 42.34 million cubic meters of natural gas at Sudan border crossing, compared with 42.31 million cubic meters on December 9th.VinFast's second factory in Vietnam has doubled its production capacity to accelerate global expansion. VinFast Auto, a Vietnamese electric vehicle manufacturer, announced its expansion plan to build a second production plant in Vietnam, with a view to doubling its production capacity and meeting the growing market demand for its small and medium-sized models. The new factory is expected to have an annual production capacity of 300,000 vehicles, which is the same as the company's existing factory in Haiphong, and is scheduled to be put into production in July next year. In addition, VinFast also announced plans to establish assembly plants in Indonesia and India, and postponed the start-up time of the factory originally scheduled for North Carolina to 2028. These measures mark the further expansion and deepening of VinFast in the global electric vehicle market.How to do economic work next year? A quick look at the main points of the Politburo meeting. On December 9, the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting to analyze and study the economic work in 2025. The meeting held that China's economic strength, scientific and technological strength and comprehensive national strength continued to increase. The new quality productivity has developed steadily, the reform and opening up has continued to deepen, the risk mitigation in key areas has been orderly and effective, and the people's livelihood security has been solid and powerful. The main objectives and tasks of economic and social development throughout the year will be successfully completed. (21 Finance)

Chinese stocks and ETF US stocks soared at the beginning of the session, with many houses rising by more than 74%, shells rising by more than 13%, and Weilai and Xpeng Motors rising by more than 11%; China ETF rose more than 22%, China overseas Internet ETF rose more than 9%, and China large-cap ETF rose more than 7%.COMEX gold futures rose more than 1.00% in the day and are now reported at $2,686.20 per ounce.Insiders: It is expected that the second car of Xiaomi, YU7, will mark Tesla Model Y,12 On December 9, the second car of Xiaomi Automobile officially landed in the Ministry of Industry and Information Technology. According to the information of the Ministry of Industry and Information Technology, the second model of Xiaomi Automobile is a pure electric SUV, and the trailer label shows that this model is named "YU7". The new car is 4999mm long, 1996mm wide and 1600mm high, with a wheelbase of 3000mm and a top speed of 253 km/h. Previously, the appearance and interior spy photos of Xiaomi YU7 have been exposed. In appearance, the new car continues many family design elements of Xiaomi SU7 in design, but the semi-hidden door handle has become a hidden door handle. In addition, because the new car body looks similar to Ferrari Purosangue, it has also been dubbed "Farami" by netizens. According to the analysis of insiders, Xiaomi SU7 is against Tesla Model 3, and it is expected that Xiaomi's second car YU7 will be against Tesla Model Y.. (CBN)