Category: Flash News

On December 27th, the fierce price war of consumer loans for zero interest and zero down payment car purchases is spreading to the year-end car loan market. A reporter from China Securities Journal recently visited several traditional and new energy vehicle brand 4S stores in Beijing, and most salespeople gave priority to introducing loan car purchase plans to the reporter. They stated that compared to purchasing a car in full, the landing price of a loan car can be discounted by several thousand to tens of thousands of yuan. Not only that, “long-term loans and short-term repayments” (customers apply for 5-year loans, which can be repaid in advance after 1 or 2 years) have become a tactic for car salespeople to attract customers to take out loans to buy cars, but this move has left commission banks feeling helpless. A bank insider bluntly stated, “Dealers doing this will cause a significant decline in our loan income, and even losses.” Industry insiders said that price wars are not a long-term solution and we need to find the “second growth curve” of automotive finance. A person in charge of a certain joint-stock bank said, “We need to transform simple roll prices into roll services, roll products, roll processes, and roll customer experiences that focus on long-term development. If the bank cannot make profits, its subsequent service capabilities will inevitably be greatly reduced, especially the needs of long tail customers will be difficult to meet.” (China Securities Journal)

On December 27th, the General Office of the State Council recently issued the “Opinions on Optimizing and Improving the Management Mechanism of Local Government Special Bonds”, proposing to “expand the scope of special bonds used as project capital”. Sheng Lei, Deputy Director of the Investment Research Institute of the China Academy of Macroeconomics, stated that industries such as low altitude economy and commercial aerospace are important engines for developing new quality productivity, and are also key areas of concern in current domestic policies. By including the infrastructure construction of these industries in special bonds as project capital in a “positive list” manner, it can not only guide local relevant departments to launch more projects in emerging industries, but also improve the efficiency and flexibility of the use of special bonds, and accelerate the release of positive fiscal policy effectiveness. (Securities Daily)

On December 27th, the news department controlled by the Houthis in Yemen issued a statement on December 26th local time, stating that the Israeli government bears full responsibility for the attack. The Houthis call on the international community to condemn Israel’s actions and take urgent measures to prevent such “acts of aggression” from happening again in the future. (CCTV News)

On December 27th, it was found that not only state-owned enterprises holding listed companies, but also state-owned holding listed companies on the A-share market (including state-owned enterprises holding listed companies, provincial state-owned holding listed companies, municipal state-owned holding listed companies, and other state-owned listed companies) have maintained a high level of M&A activity since the beginning of this year, focusing on accelerating the “three centralizations” of state-owned capital, and have achieved significant results in shifting gears and speeding up. Data shows that as of 17:00 on December 26th this year, state-owned listed companies have disclosed a total of 1814 merger and acquisition events, of which 35 involve major asset acquisitions/transfers/exchanges. (Securities Daily)

On December 27th, Russian President Putin stated on the 26th that Russia is open to using Slovakia as a negotiating platform between Russia and Ukraine. Putin said in an interview with reporters after the meeting of the Supreme Council of the Eurasian Economic Commission, the highest authority of the Eurasian Economic Union, held in Leningrad Oblast that Slovak Prime Minister Fizo expressed his willingness to use his country as a platform for negotiations between Russia and Ukraine during his recent visit to Russia. The Russian side believes that Slovakia holds a neutral position and is open to this proposal.

On December 27th, Guangzhou Futures Exchange’s new energy metal products sector welcomed a new member – polysilicon futures, which officially went public on December 26th. This is another new energy metal variety that has been widely listed after industrial silicon and lithium carbonate. According to market feedback, the market has a high level of enthusiasm for participating in polysilicon futures. On the day of the listing of polycrystalline silicon futures, the transaction volume exceeded 40 billion yuan. As of the close, the trading volume of polysilicon futures was 331300 lots, with a holding volume of 39700 lots and a turnover of 41.635 billion yuan. It is understood that the listing of polycrystalline silicon futures is beneficial for the photovoltaic industry to reduce costs and increase efficiency, serve supply chain security, guide and regulate the rational layout of various sectors in the industry chain, and accelerate the formation of new quality productivity in the photovoltaic industry. (Shanghai Securities News)

On December 27th, according to LSEG Lipper data, as of the week ending December 25th, US short-term and medium-term investment grade bond funds had an outflow of $780 million, compared to $690.2 million in the previous week; The high-yield bond fund had an outflow of 2.22 billion US dollars, compared to 781.1 million US dollars in the previous week; The US treasury bond bond fund outflows $400.4 million, compared with $3.76 billion the previous week; The leveraged loan fund in the United States had an outflow of $313.5 million, compared to an inflow of $1.01 billion in the previous week; Mortgage related funds had an outflow of $41.6 million, compared to $174.6 million in the previous week.

On December 27th, with the rapid increase in domestic acetone production capacity, the export volume growth of acetone industry chain products has also shown particularly significant growth. Taking downstream product MMA (methyl methacrylate) as an example, data shows that since 2020, the export of MMA in the domestic market has continued to show a growth trend, with a five-year compound growth rate of up to 43.33%. The export volume is expected to reach around 300000 tons in 2024, or the highest in nearly five years. Zhuochuang Information predicts that domestic acetone production will continue to show an increasing trend in 2024, with an estimated annual acetone production of about 3.309 million tons, a year-on-year increase of about 28.5%. According to Ning Lihong, an analyst at Zhuochuang Information, “In the past three years, with the rapid expansion of production capacity in the domestic acetone industry chain, there has been a significant increase in both upstream and downstream product output, a significant decrease in import dependence, continuous expansion of export channels for industrial chain products, and a significant increase in export growth rate

On December 27th, Israeli Prime Minister Netanyahu announced on the 26th local time that the Israeli Air Force conducted airstrikes on Houthi armed targets in Yemen on the same day. He said that Israel is determined to eradicate the Houthis, Iran’s proxy, and will not give up until the goal is achieved.

On December 27th, according to the network monitoring website DownDetector, user reports indicate that there are issues with the use of OpenAI. As of 2:07 PM Eastern Time, OpenAI has reported over 10226 malfunctions in the United States.