2.国务院国资委党委委员、副主任谭作钧出席在中国电信党校举办的中央企业人工智能特训班结业式表示，要大力发展人工智能，推动中央企业高质量发展。谭作钧表示，要紧跟人工智能最新发展，主动拥抱人工智能浪潮，强化人工智能思维，把握人工智能发展规律，努力成为人工智能发展的探索者、组织者、带动者。要加快学习应用人工智能，深扎人工智能“根技术”，深入实施“AI+”行动，强化人工智能赋能千行百业、驱动科技创新，让人工智能成为产业升级跃迁的强劲引擎。要大力培育耐心、宽松、友好的产学研生态，进一步深化改革，加快建立适应人工智能发展的体制机制，大胆使用人工智能青年科技领军人才，充分激发人才潜能和创新创造活力。① The central bank: further optimize the re-lending process and expand the scale of equipment renewal loans. ② The State-owned Assets Supervision and Administration Commission: should vigorously develop AI and accelerate the establishment of a system and mechanism suitable for AI development. ③ The Federal Reserve's meeting minutes indicate that officials prefer to slow down the pace of interest rate cuts. ④ America's December 'small non-farm' data came in below expectations, with wage growth dropping to a three-and-a-half-year low.
Focused on hot topics.
1. Peng Lifeng, Director of the Credit Market Department of the People's Bank of China, stated at a regular press conference on government policy that the People's Bank will thoroughly implement the decisions of the Central Economic Work Conference, continue to provide financial support for large-scale equipment updates in conjunction with relevant departments, better utilize the cross-departmental working mechanism, enhance cooperation with finance, further optimize the re-lending process, support banks in improving service efficiency, expand the scale of equipment renewal loans, reduce corporate financing costs, and stimulate operational entities to release equipment renewal demands.
2. Tan ZuoJun, member of the Party Committee and Deputy Director of the State-owned Assets Supervision and Administration Commission, attended the graduation ceremony of the AI training class for central enterprises held at the CHINA TELECOM Party School and stated that AI should be vigorously developed to promote high-quality development of central enterprises. Tan ZuoJun emphasized the need to closely follow the latest developments in AI, actively embrace the AI wave, strengthen AI thinking, grasp the laws of AI development, and strive to become explorers, organizers, and promoters of AI development. Accelerate learning and application of AI, deepen the "root technology" of AI, implement the "AI+" action plan, enhance the empowerment of AI across various sectors, drive technological innovation, and make AI a strong engine for industrial upgrading transitions. A friendly, relaxed, and supportive ecosystem for industry-university-research collaboration should be cultivated, further reforms deepened, and a system and mechanism adaptive to AI development accelerated, utilizing young technological leaders in AI to fully unleash talent potential and innovation vitality.
3. On Wednesday local time, the Federal Reserve published the minutes of the December monetary policy meeting on its official website. The minutes reveal that, considering that inflation risks remain high, Federal Reserve officials have adopted a new stance on interest rate cuts, deciding to slow the pace of cuts in the coming months.
The minutes state that participants indicated the committee believes that the level of interest rates is close to or at an appropriate moment to slow down the pace of rate cuts. They believe the pace of cuts may slow down in the future, entering a more cautious operational phase.
Moreover, a series of factors indicate that, in the current complex economic environment, Federal Reserve decision-makers believe that careful adjustments to monetary policy are needed to avoid the negative impacts of overly aggressive policy adjustments. For example, rapid interest rate cuts may lead to a resurgence of inflationary pressures.
In addition, renowned macroeconomic journalist Nick Timiraos, known as the 'echo of the Federal Reserve', pointed out that the Federal Reserve minutes further indicate that at the upcoming meeting at the end of this month, officials are generally willing to keep rates unchanged.
On Wednesday morning local time in the USA, the December ADP private sector employment data, known as the "small non-farm payroll", was released, showing a simultaneous slowdown in the growth of job openings and wage increases.
The ADP report states that after seasonal adjustment, 122,000 jobs were added in December, lower than the 146,000 in November and below economists' consensus expectation of 136,000. This is the smallest increase since last August. Meanwhile, the wage growth year-on-year increased by 4.6%, which is also the lowest rate since July 2021.
Due to the mourning day being advanced to Wednesday, the Labor Department's initial jobless claims data released also showed that for the week ending January 4, the number of first-time applicants for unemployment Insurance was 0.201 million, significantly below the expected 0.215 million, and is the lowest level since February 2024.
Global Index
In the US stock market, by the close, the Dow Jones Industrial Average rose by 106.84 points, an increase of 0.25%, closing at 42,635.20 points; the Nasdaq fell by 10.80 points, a decrease of 0.06%, closing at 19,478.88 points; and the S&P 500 Index rose by 9.21 points, an increase of 0.16%, closing at 5,918.24 points.
Large technology stocks had mixed performance, with Meta down 1.16%, Google A down 0.79%, NVIDIA down 0.02%, whereas Amazon closed up 0.01%, Tesla rose 0.15%, Apple increased 0.2%, and Microsoft up 0.52%.
The Nasdaq Golden Dragon China Index closed down 0.67%, with most China Concept Stocks falling, Xpeng down over 5%, NIO and Kingsoft Cloud down over 4%, and Bilibili down over 3%; TAL Education rose over 5%, and NetEase rose over 2%.
In the Hong Kong stock market, by Wednesday's close, the Hang Seng Index fell by 0.86%, closing at 19,279.84 points; the Technology Index fell by 1.09%, closing at 4,307.40 points; and the Hang Seng China Enterprises Index fell by 0.84%, closing at 6,990.65 points.
From the market performance perspective, most individual stocks such as Internet Plus-Related, Consumer Electronics, Autos, and pharmaceuticals have weakened.
Company news
CGN POWER (01816.HK): plans to acquire 100% equity of the Taishan Second Nuclear Power Plant for approximately 1.204 billion yuan.
ANTA SPORTS (02020.HK): In the fourth quarter of 2024, the retail sales amount of ANTA brand products achieved a high single-digit growth year-on-year; FILA brand products achieved a high single-digit growth; all other brand products achieved a growth of 50-55%.
SANY INT'L (00631.HK): expects annual Net income to decrease by 25% to 45% to approximately 1.379 billion yuan to approximately 1.011 billion yuan. This is mainly due to expected goodwill impairment losses in the Oil & Gas equipment business and impairment losses on assets held for sale.
ZHONGLIANG HLDG (02772.HK): In December, cumulative contract sales reached 17.93 billion yuan, a year-on-year decrease of 47.47%; December sales amounted to 1.49 billion yuan, a year-on-year decrease of 31.65%.
POWERLONG (01238.HK): In 2024, cumulative contract sales reached 12.787 billion yuan, a year-on-year decrease of 53.54%; December sales were 1.054 billion yuan, a year-on-year decrease of 4.87%.
TIMES CHINA (01233.HK): Cumulative contract sales in December reached 9.416 billion yuan, a year-on-year decrease of 34.36%; December sales were 1.005 billion yuan, a year-on-year increase of 8.88%.
RONSHINECHINA (03301.HK): The cumulative contract sales amount for 2024 is approximately 7.702 billion yuan, a year-on-year decrease of 53%, with December sales amounting to 0.771 billion yuan, a year-on-year decrease of 30.79%.
