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Shanghai Electric discussed new energy cooperation with South Korea's Hyosung Group. According to Shanghai Electric, on the morning of December 9, Leo, Party Secretary and Chairman of Shanghai Electric Group, went to Seoul, South Korea to visit South Korea's Hyosung Group and held talks with its president Zhao Xianjun. The two sides had in-depth exchanges on joint ventures and cooperation in the field of new energy. Zhao Xianjun expressed the hope that the two sides will strengthen cooperation in the fields of wind power and hydrogen energy and jointly explore Korean and overseas markets. During the talks, the two sides also discussed the cooperation potential in the fields of hydrogen energy and power grid equipment, and sought cooperation opportunities in technology research and development, project investment and market development.The aquaculture sector oscillated to raise Huaying Agriculture's daily limit, the aquaculture sector oscillated to raise, Huaying Agriculture's daily limit, Tianyu Bio and Chuangye International's previous daily limit, and Zhongshui Fishery, Minhe Shares and Xiaoming Shares followed suit.CITIC Securities: As the Spring Festival approaches, consumption is expected to usher in a new round of rebound and repair. CITIC Securities Research Report said that the Politburo meeting held on December 9, 2024 once again made it clear that expanding domestic demand is the key policy direction for the coming year, "expanding domestic demand in all directions" and "vigorously boosting consumption", expressing positive and igniting market expectations. After experiencing a rapid rebound in September, the consumer sector generally pulled back in October-November because the short-term consumption data has not yet reflected the effectiveness of the policy and the policy strength in the coming year is unclear. We believe that as the Spring Festival approaches, the top-down emphasis on domestic demand and policy expectations are heating up, and consumption is expected to usher in a new round of rebound and repair. On the policy side, in addition to the "trade-in policy", we believe that there is still a package of consumption promotion toolboxes available, such as subsidies for first-time car buyers, maternity subsidies, and the issuance of state-subsidized catering and tourism coupons. We suggest that the consumption allocation should be progressive from both offensive and defensive to flexible varieties, with both offensive and defensive features: consumer Internet, dairy products with low valuation and high return, mass catering, etc., and flexibility: catering supply chain, alcohol, human resources services, hotels, etc., with obvious pro-cyclical characteristics, considering the consumption allocation demand driven by expectations first.

Biden's last speech on the economy warned Trump that "trickle-down economics" was making a comeback. US President Biden publicized his economic achievements in a speech at the Brookings Institution in Washington on Tuesday, and warned Trump to repeat the Republican "trickle-down economics" during his second term. This may be his last speech on the economy during his tenure. Biden said in his speech that he promoted investment in infrastructure, manufacturing and neglected communities, avoided a bigger economic crisis and laid the foundation for sustained economic growth. "The new government will take over a fairly strong economy, and most economists agree with this view," Biden said. "I deeply hope that the new government can maintain and carry forward such progress. Biden proudly said that after decades of trickle-down economics, which gave priority to the wealthy Americans, his government adopted a new approach. At present, the economy is growing from the inside out and from the bottom up, benefiting the middle class. He admitted that American workers still suffer from inflation and high housing prices. Biden stressed that during his tenure, he created 16 million jobs, the highest in a single presidency, the lowest average unemployment rate in all previous governments in the past 50 years, and the smallest racial gap between the rich and the poor in the past 20 years. Biden warned Trump to provide more tax cuts for the rich and enterprises during his second term, and said that Trump's commitment to impose tariffs on overseas goods may make a "big mistake". He also said that he thought Trump would be in trouble if he stopped the investments he made during his administration, because these investments benefited many Republican and Democratic-led states.Trump nominated ron johnson as the US ambassador to Mexico.Wei Shaojun, China Semiconductor Industry Association: The domestic chip design industry has returned to the double-digit high-speed development track. At the Shanghai IC Industry Development Forum 2024, Wei Shaojun, chairman of the IC Design Branch of China Semiconductor Industry Association, said that it is estimated that the domestic chip design industry sales in 2024 will be 646.04 billion yuan, an increase of 11.9% compared with 2023, returning to the double-digit high-speed development track, and the proportion of the global IC product market will be basically the same as last year. In terms of the distribution of industrial cities, Shanghai, Shenzhen and Beijing continue to occupy the top three cities in the scale of design industry this year. Among them, the scale of chip design industry in Shanghai has reached 179.5 billion yuan, which is further widened compared with that in Shenzhen. The scale of design industry in Wuxi has reached 67.82 billion yuan, surpassing Hangzhou and ranking fourth. In 2024, the number of chip design enterprises with sales exceeding 100 million reached 737.

The financing balance of the two cities increased by 13.706 billion yuan. As of December 10, the financing balance of the Shanghai Stock Exchange was 956.648 billion yuan, an increase of 5.195 billion yuan over the previous trading day. The financing balance of Shenzhen Stock Exchange was 909.757 billion yuan, an increase of 8.511 billion yuan over the previous trading day; The two cities totaled 1,866.405 billion yuan, an increase of 13.706 billion yuan over the previous trading day.The concept of reducer went down in early trading, and Shandong Mining Machine and Shanzi Hi-Tech fell, while Shandong Mining Machine and Shanzi Hi-Tech fell, and Qinghai Huading, Landay Technology, Nifa Seiki and Wuzhou New Year followed suit.The concept of reducer went down in early trading, and Shandong Mining Machine and Shanzi Hi-Tech fell, while Shandong Mining Machine and Shanzi Hi-Tech fell, and Qinghai Huading, Landay Technology, Nifa Seiki and Wuzhou New Year followed suit.