Outlook of Consumer Industry of Minyin Securities in 2025: The expansion of domestic demand grasps the opportunity of differentiation and change. Minyin Securities released a report on the outlook of consumer industry in 2025, saying that consumer demand is generally weak in 2024, and price factors also restrict growth. Looking forward to China's consumer industry in 2025: (1) Consumption plays a leading role and expanding domestic demand is in a more priority position. The variety and scale of trade-in of consumer goods are expected to continue to expand, and local governments will also introduce new policies to promote consumption in light of local conditions. (2) Rational consumption is more differentiated, and consumers pay for quality-price ratio and spiritual experience. The performance of Tou International Consumer Goods Company in China is also characterized by differentiation. Most of them recognize the long-term value of the China market. Despite short-term challenges, they plan to focus on strengthening localization and continue to invest in the China market. (3) When Trump comes to power, consumption will face greater challenges, and it will require higher global supply chain integration ability, diversified layout and localization ability. It is suggested to grasp the main line of domestic demand expansion, including dairy products with expected improvement at the bottom, outdoor sectors with high prosperity and tidal play sectors. If the demand recovers as scheduled, the catering/sports shoes and clothing/chain retail industry in a period of change will be flexible. In terms of export chain, it is necessary to observe whether the risk of trade friction is fully priced. In the medium term, the overseas market is vast, and the key to success is the added value and bargaining power of products, the matching degree between overseas demand and overseas supply chain, and the global diversified layout.Shaanxi experts took the lead in formulating the first Expert Consensus on Clinical Operation of Micro-apical Surgery in China. Recently, according to the news from the Stomatological Hospital of Air Force Military Medical University, Yu Qing, a professor of dental endodontics in this hospital, led by top experts from more than 10 well-known domestic hospitals, including Peking University Stomatological Hospital, West China Stomatological Hospital of Sichuan University and Ninth People's Hospital affiliated to Shanghai Jiaotong University School of Medicine, successfully formulated the first Expert Consensus on Clinical Operation of Micro-apical Surgery in China in three years.In 2024, the actual overseas sales revenue of China's self-developed games is expected to be 18.557 billion US dollars, up 13.39% year-on-year. The Game Working Committee released the "Research Report on Games Going to Sea in China in 2024". In 2024, the global game market will be 1,216.335 billion yuan, up 3.31% year-on-year. The global mobile game market was 635.569 billion yuan, up 4.83% year-on-year. The growth trend of the global mobile game market has obviously slowed down. In 2024, the actual sales revenue of China's self-developed games in overseas markets is estimated to be $18.557 billion, up 13.39% year-on-year.
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.Faraday Future announced today that it has delivered FF 91 2.0 Futurist Alliance to supermodel and designer Suede Brooks. FF executives attended the delivery ceremony and discussed with Suede about the co-creation of future technology and design fashion. Matthias Aydt, global CEO of FF, Jia Yueting, founder and chief product and user ecologist of FF, and Sue Neuhauser, head of FF design, attended the event and delivered the new car to Suede.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.
The winning bid rate of China's 2-year treasury bonds was 1.06%, which was 31 basis points lower than last month. The Ministry of Finance of China issued treasury bonds today, and the weighted average winning bid rate of 2-year varieties was 1.06%. The data shows that the bid-winning interest rate is about 31 basis points lower than that when the national debt of the same term was issued in November, the lowest since Bloomberg recorded it in 2004.Wang Tao of UBS: It is estimated that deficit ratio will approach 4% of its financial resources or increase its investment in social security medical care next year. Wang Tao, head of Asian economic research and chief China economist of UBS, said that China's fiscal deficit ratio is expected to approach 4% next year, and the scale of ultra-long-term special government bonds excluding capital injection into state-owned banks may be 2 trillion yuan, and the amount of new local government special bonds may be 4.5 trillion to 5 trillion yuan. In fact, the fiscal expansion next year is relatively mild compared with the fiscal stimulus in 2008-2009. Wang Tao believes that next year, the government will increase investment in social security and medical care, and establish a more perfect social security system while boosting residents' confidence in the short term.The 2024 Liaoning International Ice and Snow Economic Cooperation Promotion Conference was held. On December 12th, the 2024 Liaoning International Ice and Snow Economic Cooperation Promotion Conference was held in Shenyang. More than 150 government and enterprise guests from more than 20 countries including South Korea, Germany and France and Hong Kong and Macao attended the conference, and conducted in-depth exchanges on topics such as ice and snow tourism, ice and snow sports and ice and snow equipment manufacturing. This promotion meeting is an important sub-activity of "Liaoning International Ice and Snow Economic Cooperation and Negotiation Activities". It is understood that the "Liaoning International Ice and Snow Economic Cooperation Negotiation Activity" will last for three days, during which activities such as Liaoning Ice and Snow Economic Theme Exhibition, Liaoning-Europe and America Ice and Snow Economic Cooperation Exchange Conference and Liaoning Ice and Snow Economic Industry Tour will be held, aiming at deepening the exchanges and cooperation between Liaoning Province and the world in the field of ice and snow economy, jointly exploring new opportunities for the development of global ice and snow industry and building a brand of winter economic and trade cooperation in Liaoning Province. (Liaoning Daily)
Strategy guide
12-14
Strategy guide 12-14
Strategy guide 12-14
Strategy guide
12-14
Strategy guide 12-14