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International copper closed down more than 1.1%, while Shanghai nickel and alumina rose more than 1.5% at most. International copper closed down 1.14%, Shanghai copper closed down 0.94%, Shanghai aluminum closed up 0.12%, Shanghai zinc closed down 0.83%, Shanghai lead closed down 0.37%, Shanghai nickel closed up 1.51% and Shanghai tin closed down 0.81%. Alumina closed up 1.04% at night. Stainless steel night trading closed down 0.23%.The overall implementation of the personal pension system is more optimized. After two years of implementation in 36 cities (regions), the personal pension system will be officially launched nationwide on December 15th. On December 12th, Ministry of Human Resources and Social Security, Ministry of Finance, State Taxation Administration of The People's Republic of China, State Financial Supervision and Administration Bureau, China Securities Regulatory Commission and other five departments issued the Notice on Full Implementation of Individual Pension System, which made it clear that from December 15th, 2024, all workers who participated in the basic old-age insurance for urban workers or urban and rural residents in China can participate in the individual pension system. China Securities Regulatory Commission said that the promulgation and implementation of the Notice is an important measure to implement the spirit of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th Central Committee and accelerate the development of a multi-level and multi-pillar old-age security system, which is conducive to giving full play to the wealth management function of the capital market and building a sound policy system of "long money and long investment". At the same time, according to the requirements of the Notice, the China Securities Regulatory Commission timely optimized the product supply and included the first batch of 85 equity index funds in the personal pension investment product catalogue. Lou Feipeng, a researcher at China Postal Savings Bank, said that the Notice put forward targeted measures based on the situation encountered in the pilot, enriching the types of personal pension products, increasing the situation of receiving personal pensions in advance and effectively improving the personal pension system on the basis of the previous pilot, which will help attract investors to actively participate in personal pension-related investments. (Securities Daily)Goldman Sachs analysts predict that the European banking industry will be in a difficult situation in 2025. The challenges they face include low interest rates, slow growth and prominent political uncertainty.

Google: The first device equipped with Android XR is made by Samsung and will be available next year.Ambassador of China to the United States: "Going to China" is the real risk of global supply chain. Xie Feng, China's ambassador to the United States, said on the 11th that "going to China" is the real risk of global supply chain. Speaking at the annual dinner of u.s.-china business council held in Washington that night, Xie Feng said that in the face of protectionism, China's determination to comprehensively deepen reform and expand high-level opening-up has always been the same, its goal of promoting stable and far-reaching Sino-US relations has always been the same, and its desire to welcome enterprises from all countries, including American enterprises, to share development opportunities has always been the same. Xie Feng said that since the Third Plenary Session of the 20th Central Committee of the Communist Party of China, a series of heavy reform measures have come into effect, and access to the manufacturing sector has been fully liberalized. For the first time, negative list management has been established for cross-border service trade nationwide, and wholly foreign-owned hospitals have been allowed to be set up in nine places including Beijing. Eleven foreign-controlled or wholly foreign-owned brokers, including JPMorgan Chase, have successively settled in China, and telecommunications, internet, education, culture and medical care have been opened in an orderly manner, releasing huge market dividends. Xie Feng said that the weaponization of tariffs closes the market and loses opportunities. The "small courtyard and high wall" can't stop the spring breeze of innovation, but will draw the land as a prison. "Going to China" under the guise of "removing risks" is the real risk of the global supply chain, and treating "national security" as a "panacea" to discredit and suppress is itself creating insecurity. Only when Sino-US cooperation is done well will the two countries and the world be more prosperous and safer. U.s.-china business council, founded in 1973, is a non-governmental trade organization with China established by the United States before the establishment of diplomatic relations between China and the United States. It has long been committed to promoting the development of Sino-US relations and economic and trade cooperation. At present, the Committee has 270 American member enterprises doing business in China.The U.S. House of Representatives passed a bill to expand the judiciary.

On Thursday (December 12th), the overnight reverse repurchase agreements (RRP) of the Federal Reserve was 165.025 billion US dollars, compared with 180.120 billion US dollars in the last trading daily.Russia said it cracked down on several Ukrainian military equipment and repulsed Russia's multi-directional attacks. The Russian Defense Ministry issued a war report on the 12th, saying that in the past day, Russian armed forces killed and wounded 1,345 Ukrainian troops and destroyed many Ukrainian military equipment including tanks, armored vehicles and American howitzers. Russian air defense forces shot down four American-made "Haima" rockets and 37 drones of the Ukrainian army. In addition, Russian troops also controlled the "Zarija" settlement in Donetsk. According to the General Staff of the Ukrainian Armed Forces, there were 203 battles in the frontline area in the past day, and the situation on the frontline remained grim. The Ukrainian air force, missile units and artillery units destroyed many Russian military personnel assembly areas and control points. In the direction of Kharkov, Pokrovsk and Kulahovo, the Ukrainian army repelled many Russian attacks. In addition, the Ukrainian army continued to carry out operations in the Kursk region.Bitcoin exceeded $102,000/piece, up 0.87% in the day.