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Market News: The motion of impeaching South Korean President Yin Xiyue was reported to the South Korean National Assembly.The weighted share price index of Taiwan Stock Exchange closed down 0.1% at 23,020.48 points.IDC: The recovery of China's financial cloud market in the first half of 2024 was less than expected. According to the latest report "Tracking China's financial cloud market in the first half of 2024" released by IDC, the scale of China's financial cloud market in the first half of 2024 reached US$ 4.40 billion, up 7.3% year-on-year, and it was RMB 31.67 billion, up 11.5% year-on-year, achieving double-digit growth, but the growth rate was high. In the financial cloud sub-market, the cloud infrastructure market has picked up from the previous month, but the situation of financial institutions reducing costs and increasing efficiency has continued, and the overall development speed of the cloud solution market has further slowed down. From the overall situation of the financial cloud market in 2024, the financial cloud market in China is in a period of adjustment, and the development trend of each sub-market continues to differentiate.

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.Joy City's daily limit The fourth Joy City in Beijing is about to open, and Joy City (000031.SZ) has raised its daily limit to a new high price in 4 yuan for 15 months, with a total market value of 17.1 billion yuan. According to the news, Haidian Joy City, the fourth Joy City in Beijing, will open on December 21st. At present, the second installation of many brands has come to an end, and the merchants in the venue have entered intensive preparations for opening.China Merchants Ping 'an Assets established the No.2 Investment Center for Intelligent Calculation. According to the enterprise search APP, recently, Shenzhen Zhaoping Intelligent Calculation No.2 Investment Center (Limited Partnership) was established with a capital contribution of 300 million yuan, and its business scope includes: engaging in investment activities with its own funds. Enterprise equity penetration shows that the enterprise is indirectly wholly-owned by Shenzhen Merchants Ping An Asset Management Co., Ltd.

Market news: Russian troops advance to strategic cities in eastern Ukraine.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.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.