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EU leaders called on Germany to lift the borrowing ceiling to protect the economy.Dongfang Jincheng: In 2025, the policy interest rate cut may reach 0.5 percentage points. the Political Bureau of the Communist Party of China (CPC) Central Committee held a meeting on December 9 to analyze and study the economic work in 2025. Dongfang Jincheng judges that in 2025, the central bank will continue to implement vigorous interest rate cuts and RRR cuts, among which the policy rate cuts may reach 0.5 percentage points, which is significantly higher than the rate cut of 0.3 percentage points this year, and the interest rates of various structural monetary policy instruments will also be lowered in a timely manner, thus guiding the financing costs of enterprises and residents to go down. It is not ruled out that in 2025, it is possible to continue to implement a large-scale targeted interest rate cut on residential mortgages by greatly guiding the downward trend of LPR quotations for more than five years. (The Paper)Ramsden, Deputy Governor of the Bank of England: The Phnom Penh bond market is operating in an orderly manner, but there are also vulnerabilities such as leverage ratio and concentration of hedge funds.

Bitcoin hit $98,000/piece, down 3.12% in the day.Shenwan Hongyuan Securities interprets the meeting of the Political Bureau in December: highlighting "expanding domestic demand in all directions" and "stabilizing the property market stock market". Shenwan Hongyuan Securities Research Report pointed out that in December, Politburo meeting of the Chinese Communist Party's discussion on next year's economic work was more refined, guiding the direction of future policies, such as "expanding domestic demand in all directions". The meeting rarely emphasized "stabilizing the property market and stock market", highlighting that the current policy pays more attention to the impact of asset-side performance on the real economy. The positive signal of the policy is being released continuously, and more specific deployment focuses on the upcoming Central Economic Work Conference in December. In terms of fiscal and monetary policies, the positive degree of macro-policy adjustment is relatively rare. The meeting proposed "implementing more positive and promising macro-policies" and "strengthening unconventional counter-cyclical adjustment". Under the "more active" fiscal policy, it may be worth looking forward to actively using the central deficit space that can be improved. Under the tone of "moderate easing", monetary policy may pay more attention to internal balance, and the RRR cut can be expected.Zhongtai Futures: Wu Xiuwei has been appointed as the joint company secretary, Zhongtai Futures (01461) announced that Wei Weifeng resigned as the joint company secretary of the company and the company's agent (legal process agent) for receiving legal process documents and notices in China and Hong Kong according to Part 16 of the Companies Ordinance, Chapter 622 of the Laws of Hong Kong, with effect from December 10, 2024. Wu Xiuwei has been appointed as the joint company secretary and legal representative, with effect from December 10, 2024.

Market News: Egypt condemns Israel's "further occupation of Syrian land" and believes that entering the buffer zone is an attempt to force a new reality on the ground.The number of trains stopped at Yizhuang Station has increased to 12 pairs since the 10th. The reporter learned from the Beijing Bureau of China Railway that the new train operation map will be implemented between Beijing and Tianjin from December 10th, and the new map has optimized the morning and evening peak train operation schemes in Beijing and Tianjin. Without affecting the transportation capacity of stations along the route, the number of trains stopping at Yizhuang Station will be increased from 6 pairs to 12 pairs, the number of trains running at tianjin railway station and Tianjin West Railway Station will be optimized, and a pair of trains stopping at Yizhuang Station and Wuqing Station will be arranged at the same time in the morning and evening rush hours, providing more convenient travel options for passengers along the route.Ramsden, Deputy Governor of the Bank of England: The Phnom Penh bond market is operating in an orderly manner, but there are also vulnerabilities such as leverage ratio and concentration of hedge funds.