new currency laws, Overview

Reiterating that "stabilizing the property market" releases a stronger signal, the Central Economic Work Conference was held in Beijing from December 11 to 12. In terms of real estate, the meeting called for "stabilizing the property market" and "continuously pushing the real estate market to stop falling and stabilize". Experts said that the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held in September first mentioned "promoting the real estate market to stop falling and stabilize", the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held in December made it clear that "stabilizing the property market", and the Central Economic Work Conference reiterated "stabilizing the property market" and emphasized "continuously pushing the real estate market to stop falling and stabilize", which reflected the firm attitude of promoting the real estate market. It is expected that the policy of "stabilizing the property market" in the next stage will continue to exert efforts, do a good job and promote new and greater results. (CSI)Banks prepare for personal pension account opening. Marketing insurance companies lay out early to seize the opportunity. The year-end and year-end are the last moment of personal pension annual payment. On December 12, the personal pension system ushered in expansion. The Ministry of Human Resources and Social Security and other five departments issued the "Notice on the Full Implementation of the Personal Pension System", saying that since December 15th, the personal pension system has been pushed from 36 pilot cities (regions) to the whole country. The reporter learned that as the "entrance" of individual pension accounts, banks are actively preparing for account opening marketing. For example, many banks have launched preferential activities for opening accounts and paying personal pensions by appointment, and activities such as reduction of funds, payment ceremony and lottery withdrawal have taken turns. As an in-depth participant in the individual pension system, insurance companies have also made positive statements and will seize the historical opportunity to participate more deeply in the construction of the third pillar of the pension system. (SSE)The US House of Representatives passed a bill to add 66 federal judges in the United States. On December 12, local time, the US House of Representatives passed a bill with 236 votes in favor and 173 votes against, and planned to add 66 federal judges nationwide to alleviate the shortage of federal courts. This is the first major expansion of the US federal judicial system since 1990. The bill stipulates that the number of judges will be gradually increased in six stages in the next 11 years, covering 25 federal district courts in 13 States, including California, Florida and Texas.

IBM and Illinois will establish a national quantum algorithm center with universities and industries in Chicago. On December 12th, local time, IBM and Illinois Governor JB Pritzker announced that they would cooperate to establish a new national quantum algorithm center in the Illinois Quantum and Microelectronics Park (IQMP) in Chicago. The center is jointly supported by IBM and other quantum computing pioneers, including the University of Chicago and the University of Illinois at Urbana-Champaign, and will be supported by IBM's next-generation quantum computer, IBM Quantum System Two, which the company plans to deploy in Chicago next year.The three major US stock indexes collectively closed down by nearly 14%, while the three major US stock indexes collectively closed down, with the Dow down 0.53%, the Nasdaq down 0.66% and the S&P 500 index down 0.54%. Adobe, the developer of image processing software, fell nearly 14%, and the company's annual performance guidance was worse than expected. Gold and silver mining stocks generally fell, Cordillen Mining fell by nearly 7%, Hekla Mining, Anglogold and Pan American Silver fell by more than 5%, and harmony Gold fell by more than 4%. Bitcoin once again fell below the $100,000 mark, cryptocurrency concept stock Bit Digital fell more than 5%, and MicroStrategy fell nearly 5%.Dong Ximiao, chief researcher of Zhaolian and part-time researcher of Finance Research Institute of Fudan University, said: "Let policy adjustment go ahead of the market curve", and moderately loose monetary policy will intensify countercyclical adjustment. The Central Economic Work Conference determined that the tone of monetary policy in 2025 was "moderately loose", which was not only based on the analysis of the current economic situation, but also fully considered external uncertainties, and combined with the planning of economic work next year.

There is still a worry about the imbalance between supply and demand. There is limited room for alumina futures to continue to fall. Since the intraday record of 5,540 yuan/ton on December 5, the main contract price of domestic alumina futures has started to fluctuate and fall, reaching a minimum of 5,077 yuan/ton on December 12, with the cumulative maximum decline exceeding 8%. According to industry insiders, the increase of alumina registered delivery brands and the sharp drop in overseas alumina spot quotations have led to the recent decline in alumina futures prices. Although the short-term news in the market is intertwined, the imbalance between supply and demand in the alumina market has not fundamentally improved, so there is limited room for the subsequent decline of alumina futures prices. (CSI)NASDAQ China Golden Dragon Index closed up 0.18%, NASDAQ China Golden Dragon Index closed up 0.18%, popular Chinese stocks were mixed, Tencent Music rose over 2%, and Pinduoduo and Baidu rose over 1%. In terms of decline, iQiyi and Youdao fell more than 2%, and Weilai fell more than 1%.Medical staff: Israeli air strikes on houses in Nu Sillat refugee camp in central Gaza killed at least 20 Palestinians.