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Market information: The major shareholders of Hershey, an American chocolate manufacturer, will reject the takeover proposal of Yizi International, thinking that the other party's offer is too low.Italy's seasonally adjusted unemployment rate in the third quarter was 6.1%, and the previous value was 6.80%.Foreign media: The Italian neo-Nazi organization planned to assassinate the Prime Minister, which was foiled by the police. According to the British "Daily Telegraph" reported on the 11th, an Italian neo-Nazi organization was accused of planning to assassinate Prime Minister Giorgiya meloni and World Economic Forum President klaus schwab, and the assassination plot was foiled by the police. The report quoted local media as saying that last week, the police carried out raids in various parts of Italy, arrested 12 people suspected of participating in the far-right organization, and seized a batch of knives, military clothing and propaganda materials. The organization originally called itself "Wolf Division" and later renamed it "New Dawn Division". The police said that some suspects arrested called meloni a "fascist who persecuted fascists" and had planned to assassinate her since 2023. (Global Times)

The RMB exchange rate is expected to appreciate again at the end of the year. The research team of the Financial Market Department of Agricultural Bank of China said that the market transactions have shown obvious narrative-driven characteristics in recent years. Considering some recent changes, the RMB exchange rate is expected to stabilize and rebound again in the future. First, the pricing of Trump transactions in the international market has come to an end. Second, there has been a major shift in domestic macro policies. Since late September, financial policies such as lowering the RRR, cutting interest rates, supporting the stock market and the real estate market, and fiscal debt measures have boosted market confidence. Third, there has been a favorable change in supply and demand in the domestic foreign exchange market. The end of the year is the traditional peak season for enterprises to settle foreign exchange, and the continuous forward discount will lead to the backlog of foreign exchange settlement, which will further amplify the demand for foreign exchange settlement at the end of the year. Further considering the overall situation of the game between China and the United States, Trump's return not only means the enhancement of external shocks, but also the upgrading of internal policies. The RMB exchange rate will maintain two-way fluctuations next year, and it is no longer a steady profit for enterprises to hold US dollars and postpone foreign exchange settlement. While stabilizing domestic foreign trade and foreign investment, continuing to expand high-level opening-up and expanding domestic demand in an all-round way implies the certainty of economic stabilization and recovery, which is expected to promote the return of short-term securities investment and medium-and long-term direct investment and help the RMB stop falling and rebound.The full implementation of the personal pension system may bring more medium and long-term funds, and the allocation value of the Southern Shanghai and Shenzhen 300ETF(159925) has attracted much attention. On December 12, the Southern Shanghai and Shenzhen 300ETF(159925) closed up 1.07%, with a turnover of 92.5438 million yuan. The constituent stocks were all red, with Contemporary Amperex Technology Co., Limited rising by 2.47%, Kweichow Moutai rising by 1.97% and Wuliangye rising by 1.62%. China Merchants Bank and China Ping An followed suit. In the news, since December 15th, the personal pension system has been extended to the whole country, and the first batch of 85 index funds have been included in the product range, which has attracted attention, including 12 Shanghai and Shenzhen 300 index funds and 300ETF(159925) in South China. According to industry insiders, since the personal pension fund system came into being, both personal pension funds and sales organizations have steadily expanded. The increase of fund products and the continuous addition of new sales organizations will bring more medium and long-term funds to the capital market, and the Southern CSI 300ETF(159925) will benefit in the medium and long term.Schlegel, Governor of the Swiss National Bank: We will continue to monitor inflationary pressure and adjust monetary policy to maintain price stability if necessary. Without today's interest rate cut, inflation expectations would be lower. The uncertainty of the future inflation path is still high. The medium-term inflationary pressure has dropped significantly.

Lu Dongsheng was appointed Deputy Secretary and General Manager of the Party Committee of Shanghai Futures Exchange. The Party Committee of China Securities Regulatory Commission decided that Comrade Lu Dongsheng was appointed Deputy Secretary and General Manager of the Party Committee of Shanghai Futures Exchange. Comrade Wang Fenghai no longer serves as deputy secretary and general manager of the Party Committee of Shanghai Futures Exchange. (website of last issue)Network Information Office: The Network Security Standards Committee should speed up the development and release of standards such as "Identification Method of Synthetic Content Generated by Artificial Intelligence" and strengthen the research on relevant network security standards such as intelligent networked vehicles. The second "Standards Week" of the National Network Security Standardization Technical Committee in 2024 was held in Haikou City, Hainan Province from December 8 th to 11 th. Wang Jingtao, deputy director of the National Network Information Office, pointed out that standing at a new starting point and a new journey, the Network Security Standards Committee should do a solid job in network security standardization. First, it is necessary to build a national network security defense system supported by standards, and promote the release and implementation of standards such as the boundary determination method of key information infrastructure, the index system of security protection capability, the alarm information format of network security products, and the asset information format as soon as possible, and accelerate the formation of systematic defense capabilities. Second, it is necessary to use standards to help data security governance and supervision, speed up the development of standards such as data classification and classification protection requirements and compliance audit of personal information protection, and ensure the safe and orderly flow of data. Third, it is necessary to lead the safe and orderly development of new technologies and applications such as artificial intelligence with standards and norms, accelerate the development and release of standards such as "Identification Method of Synthetic Content Generated by Artificial Intelligence", and strengthen the research on relevant network security standards such as intelligent networked vehicles and autonomous driving, effectively escorting the safe development of emerging future industries. Fourth, we should use standards to boost the international influence of China's cybersecurity, continue to push China's cybersecurity standards "going global", do our best to run the SC27 international conference in the second half of 2025, and strive to achieve a double harvest of conference organization and conference technical achievements.In 2023, the trade volume between the mainland and Macao increased by 4.3 times compared with that before the reunification. At the regular press conference held by the Ministry of Commerce today (12th), spokesman He Yadong introduced that by signing CEPA and its series of agreements, the mainland has fully liberalized its trade in goods and basically liberalized its trade in services. According to statistics, in 2023, the trade volume between the mainland and Macao was 3.84 billion US dollars, an increase of 4.3 times compared with that before the reunification. By October 2024, the mainland had absorbed a total of 23.93 billion US dollars of direct investment from Macao, and the mainland had invested 14.19 billion US dollars in Macao.