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Dai Hongwei, a professor at the Central University of Finance and Economics: We must give full play to the advantages of central cities in scientific and technological innovation. Dai Hongwei, a professor and doctoral supervisor at the Central University of Finance and Economics, believes that it is necessary to actively cultivate new growth poles for innovation to drive regional economic growth. We must give full play to the radiation-driven role of central cities, especially in the context of innovation-driven development. We must pay attention to giving full play to the advantages of central cities in scientific and technological innovation, driving the development of surrounding areas, accelerating the development of new quality productivity, and at the same time give full play to the important role of urban agglomerations in promoting collaborative innovation and group development. (SSE)Huitai Medical: Using raised funds and self-owned funds to increase capital of 700 million yuan to wholly-owned subsidiaries. Huitai Medical announced that the company held the 20th meeting of the second board of directors and the 17th meeting of the second board of supervisors on December 12, 2024, and reviewed and approved the Proposal on Using raised funds and self-owned funds to increase capital to wholly-owned subsidiaries. The company agreed to increase its capital by 700 million yuan to Shanghai Hongtong Industrial Co., Ltd., a wholly-owned subsidiary, of which 438 million yuan of interest-bearing loans provided to Shanghai Hongtong with raised funds were converted into capital increase, and 262 million yuan was increased with its own funds. After the capital increase is completed, the registered capital of Shanghai Hongtong will increase from RMB 18,489,300 to RMB 26,548,200, and it will remain a wholly-owned subsidiary of the company.Market News: It is reported that Iraq's strategic wheat reserve is enough to meet the consumption for more than six months.

Musk received an ultimatum from the SEC or faced multiple accusations, and the long-term confrontation between the US SEC and Musk escalated again. On December 12th, local time, Alex spiro, a lawyer of Musk, wrote to Gary Gensler, the outgoing chairman of the SEC, accusing the agency of launching an "ulterior motive action" against Musk, and revealed that the SEC had restarted the investigation of Neuralink, a brain-computer interface company owned by Musk. According to the contents of the letter, the SEC asked Musk to accept the settlement agreement within 48 hours and pay the fine, otherwise he would face "multiple accusations". These allegations are related to Musk's stock investment behavior before the acquisition of Twitter (now "X") in 2022, involving trading time and the legality of information disclosure. It was mentioned in the letter that the accusation originated from an investigation that lasted for several years, and the SEC recently issued a subpoena to Musk's lawyer, asking him to provide testimony. Alex spiro said that he had explicitly refused to cooperate and accused the agency of "political motives". Musk also posted a letter from his lawyer to Gary Gensler on social media, with the text "Gary, how could you do this to me" and a crying emoji. Alex spiro also asked in his letter who was directing the SEC's actions. Alex spiro emphasized that the SEC's "harassment" of Musk and its affiliates for six years has deviated from the original intention of seeking the truth and become an improper pressure. At present, the SEC has not commented on this. In addition, the letter said that the SEC also restarted the investigation of Neuralink, a brain-computer interface company owned by Musk. This autumn, the animal protection organization "Committee of Responsible Medical Doctors" and four US congressmen asked the SEC to investigate Neuralink, accusing it of securities fraud through misleading propaganda. (Securities Times)Huawang Technology: Zhang Yancheng, the director, plans to reduce the company's shares by no more than 0.3443%. Huawang Technology announced that Zhang Yancheng, the company's director and senior manager, plans to reduce the company's shares by no more than 1.6 million shares through centralized bidding on the Shanghai Stock Exchange within three months after the announcement date, accounting for 0.3443% of the company's total share capital. The reduction price will be determined according to the market price. Zhang Yancheng currently holds 6,671,700 shares of the company, accounting for 1.4357% of the company's total share capital.The Bank of Italy said that the economy may only grow by 0.5% this year, and the Bank of Italy said in a statement on Friday that the gross domestic product (GDP) will increase by 0.5% in 2024. If seasonal and calendar effects are not taken into account, this figure will increase to 0.7%, but it is lower than the government's estimate of 1% in the budget. In addition, GDP growth is expected to be 0.8% in 2025 and 1.1% in 2026. It is estimated that the unified average inflation rate in the EU will be 1.1% in 2024, which is the same as the estimated value in October, 1.5% in 2025 and 1.6% in 2025.

The Bank of Italy said that the economy may only grow by 0.5% this year, and the Bank of Italy said in a statement on Friday that the gross domestic product (GDP) will increase by 0.5% in 2024. If seasonal and calendar effects are not taken into account, this figure will increase to 0.7%, but it is lower than the government's estimate of 1% in the budget. In addition, GDP growth is expected to be 0.8% in 2025 and 1.1% in 2026. It is estimated that the unified average inflation rate in the EU will be 1.1% in 2024, which is the same as the estimated value in October, 1.5% in 2025 and 1.6% in 2025.General Administration of Financial Supervision: Help boost consumer support and expand bulk consumption, service consumption and new consumption. The Party Committee of the State Financial Supervision and Administration held a meeting to convey the spirit of studying the Central Economic Work Conference. The meeting requested that the real economy should be better served to help boost consumption and support the expansion of bulk consumption, service consumption and new consumption. Strengthen the financing guarantee for investment and effectively serve the "double" and "two new". Expand the pilot of equity investment of financial asset investment companies in an orderly manner. Do a solid job in supporting the financing coordination mechanism of small and micro enterprises. Increase financial support for foreign trade enterprises and strengthen export credit insurance and credit services. Actively guide banks and insurance institutions to reduce costs and increase efficiency, broaden capital replenishment channels, and improve their sustainable development capabilities. Promote high-level financial openness with higher standards and greater efforts, and attract more foreign financial institutions and long-term capital to set up businesses in China.The self-built valuation model of bank wealth managers has met with "standardization": some institutions have re-adopted the strategy of excess return of the bank's tier-2 capital bonds with the valuation system of China Securities and China Securities, and recently, the regulatory authorities issued a document to the bank wealth management subsidiary, demanding that the self-built valuation model should not be used to smooth the net value fluctuation, and the valuation standards provided by third parties such as China Securities and China Securities should be adopted, and self-inspection and rectification should be carried out. The purpose of this move is to prevent the bank's wealth management subsidiaries from adjusting product income through self-built models, and to carry out "fund pool" business in disguise to ensure market fairness. At present, a number of bank wealth management subsidiaries have received this document, and have begun to adjust the net value calculation methods of day-opening and closed wealth management products, and re-adopt third-party valuation for investment products such as bank tier 2 capital bonds. A person from a bank financing subsidiary told reporters that he heard that the financial supervision department held a small-scale meeting last week, asking the bank financing subsidiary to respect the new asset management rules and not to violate accounting standards. In addition, the relevant departments also require the financial subsidiaries of banks that have used the self-built valuation model to carry out rectification, and the financial subsidiaries that have been notified shall submit corresponding rectification plans and measures reports within one month. In the view of the above-mentioned bank wealth managers, it is not excluded that some bank wealth management subsidiaries have lowered the allocation ratio of bank tier-2 capital bonds due to the influence of regulatory policies, because when the self-built valuation model is "standardized", the strategy of over-allocating bank tier-2 capital bonds to obtain excess returns becomes increasingly difficult when the net product value fluctuates relatively smoothly. (per meridian)