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German Interior Minister: The situation in Syria is very uncertain at present, and the specific possibility of return is still unpredictable.At least two people were killed when a fuel depot exploded in central Italy. On December 9, local time, a fuel depot exploded in the suburb of Florence in central Italy, killing at least two people and injuring eight others. The reporter at the reception desk was informed that the explosion caused a fire, but the fire was limited to the loading and unloading area of the fuel depot. The local civil defense department asked nearby residents to close their windows and stay away from the fuel depot area. After the explosion, some railway operations from Florence to Bologna were suspended, and the expressway exit near the fuel depot was closed in both directions. It is understood that the fuel depot belongs to Eni Group, a major Italian energy company.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.

Guangfa Strategy Review 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 is likely to 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.Market News: Egypt condemns Israel's "further occupation of Syrian land" and believes that entering the buffer zone is an attempt to force a new reality on the ground.Liang Wang was awarded the best men's doubles of the year. On December 9, Hangzhou, the awarding ceremony of the 2024 World Badminton Federation's Best Athlete of the Year Award and the Hall of Fame selection ceremony were held. Liang Weikeng/Wang Chang won the best men's doubles combination of the year.

Jingji Zhinong: In November, the sales revenue of live pigs was 262 million yuan. Jingji Zhinong announced that in November 2024, the company sold 132,700 live pigs with a sales revenue of 262 million yuan. The average selling price of commercial pigs is 17.33 yuan /kg. From January to November, 2024, the company sold 1.95 million pigs, with a cumulative sales income of 3.527 billion yuan.Dongfang Jincheng: In 2025, the policy interest rate cut may reach 0.5 percentage points. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025. Dongfang Jincheng judges that in 2025, the central bank will continue to implement vigorous interest rate cuts and RRR cuts, among which the policy rate cuts may reach 0.5 percentage points, which is significantly higher than the rate cut of 0.3 percentage points this year, and the interest rates of various structural monetary policy instruments will also be lowered in a timely manner, thus guiding the financing costs of enterprises and residents to go down. It is not ruled out that in 2025, it is possible to continue to implement a large-scale targeted interest rate cut on residential mortgages by greatly guiding the downward trend of LPR quotations for more than five years. (The Paper)Bitcoin hit $98,000/piece, down 3.12% in the day.