FTSE China A50 index futures fell to 3%.Significant progress in domestic growth hormone! Jichuan Pharmaceutical Co., Ltd. and Tianjing Biological Co., Ltd. announced that the listing application of Etan long-acting growth hormone was accepted, with a height of 10.76 cm a year, which made significant progress in domestic growth hormone. Today, Tianjing Bio and Jichuan Pharmaceutical jointly announced that the application for marketing biological products of Etan long-acting recombinant human growth hormone injection (hereinafter referred to as "Etan long-acting growth hormone") for treating children's growth hormone deficiency (PGHD) has been accepted by NMPA. As the first and only long-acting growth hormone with fusion protein in the domestic application stage and listed products, this innovative therapy is expected to provide safe, effective and convenient treatment options for children with growth hormone deficiency. Etan long-acting growth hormone adopts innovative hyFc® fusion protein technology, which greatly improves the stability and half-life of the drug by combining human growth hormone with specially designed human immunoglobulin. This patented technology not only ensures the biological activity of growth hormone, but also realizes the long-acting function of growth hormone in the body, thus making Ethan the first fusion protein long-acting growth hormone to be administered once a week.The RMB rose linearly, and the onshore and offshore RMB exchange rates against the US dollar both rose above the 7.25 mark in the morning session. As of 10: 10, the onshore and offshore RMB reported 7.2465 and 7.2487 respectively against the US dollar, with an average appreciation of more than 100 points in the day.
Treasury bond futures rose by 1.04% for 30-year main contracts, 0.53% for 10-year main contracts, 0.32% for 5-year main contracts and 0.10% for 2-year main contracts.Fuyi Wine intends to acquire Chinese wineries to be used as the production base of Penfolds brand. Fuyi Wine Group said that it will spend RMB 130 million to acquire 75% equity of Ningxia Stone & Moon Winery in Ningxia, China. The company listed on the Australian Stock Exchange plans to use 106 acres of high-quality vineyards of the winery for the production of Penfolds wine. Fuyi Wine Group can acquire the remaining shares of Wangyueshi Winery in five years. It is reported that the Penfolds brand was founded in 1844. Penfolds wine is mainly produced in Australia, but some of it is brewed from grapes grown in France and California. (Philippine imports increased by 11.2% year-on-year in October, while exports decreased by 5.5% year-on-year.
Notice: The National Health and Wellness Commission held a press conference on December 10th to introduce the situation of "learning and popularizing Sanming's medical reform experience".Yonhap News Agency: Kim Sang-wook, a member of South Korea's ruling party, expressed his support for impeaching President Yin Xiyue.Liang Zhonghua of Haitong Securities: The general direction of "positive" macro policy in 2025 has been determined, and 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. Liang Zhonghua, chief macro analyst of Haitong Securities, said that judging from the statement of the meeting, the general direction of "positive" macro policy in 2025 is certain. Among them, "supernormal countercyclical adjustment" was put forward for the first time. Liang Zhonghua analyzed that "supernormal adjustment" may be different from QE (quantitative easing) in western countries, but refers to a traditional tool that has grown steadily in the past few years, making a breakthrough on the margin and playing the role of "keeping innovation" and "enriching and perfecting the policy toolbox". Judging from the policies that have been issued since September, this round of steady growth is a steady growth under the framework of "high quality". The high-quality framework will not change, and there will be no strong stimulation of flood irrigation. The meeting proposed to "implement a more active fiscal policy and a moderately loose monetary policy". Liang Zhonghua believes that next year's finance is expected to make further marginal efforts. It is expected that deficit ratio may improve. At present, 3.5%-4.0% is more likely, and the scale of special bonds may be marginally increased. Special government bonds supporting "duality" and "two innovations" will continue to be issued or increased. In addition, the debt-melting policy launched in November will also be the financial focus next year, and it is expected that special government bonds may be issued to supplement bank capital. In addition, the gradual interest rate cut will continue next year, and the structural monetary policy will continue to exert its strength. The meeting stressed that "it is necessary to vigorously boost consumption, improve investment efficiency, and expand domestic demand in all directions." In this regard, Liang Zhonghua believes that compared with Politburo meeting of the Chinese Communist Party's statement of "expanding domestic demand with the focus on boosting consumption" in July, this meeting pays more attention to expanding domestic demand, and its support is expected to be further increased in the future. Since the beginning of this year, with the extra-long special national debt funds in place, the consumption of consumer goods trade-in policy has gradually emerged. There is still room for further efforts to expand domestic demand policies such as replacing old consumer goods with new ones next year. Liang Zhonghua also mentioned that this meeting clearly put forward "stabilizing the property market and stock market", which shows that the policy pays high attention to the property market and stock market. As an important signal to pay attention to the economy and expectations, the policies of the property market and stock market are also positive.