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LI self-developed high-toughness stainless steel rolled off the assembly line. According to LI official WeChat official account news, on December 12th, LI's first high-toughness stainless steel coil rolled off the assembly line in Qingtuo Group. Compared with traditional stainless steel, the strength of the self-developed stainless steel is improved by 46%, and the stress corrosion resistance is significantly improved. LI L series adopts high-pressure stainless steel fuel tanks. The application of this material in high-pressure fuel tanks can greatly improve the safety performance of fuel tanks under extreme working conditions. The off-line production of this material also indicates that LI has the ability of independent formula development and parts design in the field of high-toughness stainless steel.Zhongkong Technology won the bid for the whole plant control system project of Rong Sheng New Materials and held a kick-off meeting. Recently, Zhongkong Technology successfully won the bid for the whole plant control system framework project of Jintang New Materials Project of Rong Sheng New Materials (Zhoushan) Co., Ltd. (hereinafter referred to as "Jintang New Materials Project") and held a kick-off meeting in Zhongkong Science Park. The project is expected to deploy 360,000-point I/O DCS system, 15,000-point SIS system and 10,000-point GDS system. At the same time, a number of new products and technologies that occupy the forefront of the industry, such as UCS products of central control technology, SmartEIO, million-point real-time database and calorific value analysis, will also be applied on a large scale in this project, helping Jintang new materials to build a world-leading intelligent factory.CICC: Depleting inventories to eliminate excess supply is still the main direction. The Central Economic Work Conference was held in Beijing from December 11th to 12th. In terms of real estate, the meeting will "continue to push the real estate market to stop falling and stabilize" as the primary task of risk prevention. The research department of CICC believes that destocking to eliminate excess supply is still the main direction. First, control the supply of new land; second, optimize the supply structure of existing land and commercial housing; it is expected that the supply optimization policies such as land ticket, land exchange and commercial housing reform will be further promoted; third, dispose of existing commercial housing; it is expected that the efforts to store unsold commercial housing and existing second-hand housing for affordable housing will be increased; fourth, intensify the implementation of the renovation of urban villages and dilapidated houses.

Turkish regulators blocked access to dozens of cryptocurrency exchanges, and the Turkish Capital Markets Board listed websites that allegedly provided unauthorized cryptoasset services to Turkish customers.German authorities predict that the German economy will stagnate in 2025. On the 12th, local time, Kiel Institute for World Economics, one of the authoritative German economic research institutes, released a winter forecast, predicting that the German GDP will stagnate in 2025, neither increasing nor decreasing, which is 0.5% lower than the previous autumn forecast. Germany's GDP will shrink by 0.2% in 2024, compared with the previous autumn forecast of 0.1%. The agency believes that Germany's potential signs of weak economic growth are emerging, not only facing the foreseeable impact of the US tariff increase, but also the domestic industrial crisis is intensifying. (CCTV Finance)Pakistan KSE-100 index opened up 0.3% to 114,767.90.

Morgan Stanley Xing Ziqiang: China can fully withstand the improvement of the central financial deficit ratio. On December 13th, Xing Ziqiang, chief economist of Morgan Stanley China, said at the "Caijing Annual Meeting 2025: Forecast and Strategy" and the 2024 Global Wealth Management Forum that the Central Economic Work Conference broke the previous mindset of fiscal prudence. It is predicted that the budget of deficit ratio will reach a higher level next year, and may even exceed the level of 2020 (above 3.6%). With China's relatively strong national balance sheet, it can fully withstand the relatively high deficit ratio of the central government. Most other countries in the world have abandoned the so-called deficit ratio constraint of around 3% after facing the downturn of the real estate market and other factors.CICC: It is expected that the central bank will further set up other new monetary instruments in the future. CICC said that on the basis of Politburo meeting of the Chinese Communist Party, the policy objectives and directions of the Central Economic Work Conference have been further stated. For next year's economic goals, after "maintaining stable economic growth", the meeting proposed to "maintain overall stability in employment and prices" and pointed out that "we should pay attention to target guidance and strive to achieve an optimal combination of stable growth, stable employment and reasonable price recovery". In terms of monetary policy, CICC believes that this meeting clearly pointed out that "timely RRR cuts and interest rate cuts". It is expected that in order to meet the government bond issuance, credit supply and seasonal liquidity demand, the RRR cut may be implemented before the Spring Festival, and the interest rate cut may also be gradually promoted with the Fed's interest rate cut. CICC also judged that in the past period, the central bank has established new monetary instruments such as treasury bonds trading tools, securities fund insurance company exchange facilities, and affordable housing refinancing, and its ability to play a role in the stock, bond, real estate and other markets has been strengthened, and other new instruments may be further established in the future. (SSE)Zhongke Chuangda: Cooperation with Bean Bag will promote the transformation and application of the scientific research results of the big model on the vehicle side and intelligent hardware side with Volcano Engine. Zhongke Chuangda said on the interactive platform on December 13th that it has cooperation with Bean Bag. The company reached an in-depth cooperation with Volcano Engine to build a joint laboratory to empower end-to-end intelligence. The two sides will give full play to the advantages of core technologies, products and markets in their respective fields, and work together to promote the transformation and application of scientific research results of large models on the vehicle side and intelligent hardware side, empowering industrial innovation and development.