Evening hot spots in A shares| The Communist Party of China Central Committee and the State Council issued a positive signal for the development of elderly care services.

The following is the text of the evening paper: 1. Central Committee of the Communist Party of China and the State Council: Research on establishing national major projects related to elderly care services. Importance: The Central Committee of the Communist Party of China and the State Council issued opinions on deepening the reform and development of elderly care services. The opinions propose speeding up the development and application of elderly care technology and information technology. Research on establishing national major projects related to elderly care services, with a focus on promoting the research and application of technologies such as humanoid robots, brain-machine interfaces, and artificial intelligence. Deepen the demonstration of national intelligent health and elderly care applications, promote smart homes and smart health products, explore home-based elderly care safety risk warning and prevention services. Improve the national unified elderly care service information platform to promote the matching of supply and demand in elderly care services. Coordinate the national population census, sample surveys, and other work to create a unified database of elderly people and elderly care services, and strengthen connections with the national population database. 2. State Council: Entrepreneurial investment funds should focus on developing new productive forces to solve key problems in key areas. Importance: The State Council's General Office issued the "Guiding Opinions on Promoting the High-Quality Development of Government Investment Funds." It mentions that government investment funds should focus on major strategies, key areas, and weak links where the market does not function effectively, attract and drive more social capital, support the construction of a modern industrial system, and accelerate the cultivation and development of new productive forces. Entrepreneurial investment funds should focus on developing new productive forces, support technological innovation, focus on early investment, small-scale investment, long-term investment, and investment in hard technology, promote the achievement of high-level self-reliance in science and technology, enhance independent innovation capabilities and key core technology breakthrough capabilities, and address key problems in key areas. 3. Ministry of Industry and Information Technology: Conduct pilot work on 10-gigabit optical networks, explore the integration and application of 10-gigabit optical networks and artificial intelligence technologies. Importance: The Ministry of Industry and Information Technology's General Office issued a notice on carrying out pilot work on 10-gigabit optical networks. The notice proposes that by the end of 2025, pilot projects on 10-gigabit optical networks should be implemented in key scenarios such as communities, factories, and industrial parks in cities and regions with conditions and foundations. Conduct pilot projects on "10-gigabit Industrial Park." Explore the integration and application of 10-gigabit optical networks and artificial intelligence technologies, conduct new technology verification in the park such as lossless transmission, all-sensing integration, model training and reasoning applications, and innovate to create multi-dimensional intelligent application scenarios for production and manufacturing, park services, etc. 4. Several Chinese technology giants have been placed on the US Defense Department's list, and the Ministry of Foreign Affairs has responded. Importance: According to media reports, on Monday, January 6, the US Department of Defense announced that it had included Chinese technology giants such as Tencent and Contemporary Amperex Technology on its so-called "Chinese military company list." Ministry of Foreign Affairs spokesperson Guo Jiakun stated that China has always strongly opposed the US's exaggeration of the concept of national security, the creation of various discriminatory lists, the irrational suppression of Chinese companies, and the obstruction of China's high-quality development. The development rights of the Chinese people cannot be deprived and cannot be ignored. We urge the US to correct its wrong practices immediately, lift its illegal unilateral sanctions and extraterritorial jurisdiction against Chinese companies. China will take necessary measures to resolutely defend the legitimate rights and interests of Chinese companies and safeguard its legitimate development rights. 5. The United States launches an investigation into drone systems from China and other countries, and the Ministry of Commerce responds. Importance: A spokesperson for the Ministry of Commerce responded to questions from reporters about the announcement that the US Department of Commerce has included multiple Chinese entities on the export control "entity list." A reporter asked: On January 3, 2025, the US Department of Commerce announced that multiple Chinese entities were included on the export control "entity list." What is China's comment on this? The Ministry of Commerce spokesperson said that China had noted the situation. The US has included 11 Chinese entities on the export control "entity list" on the grounds of being related to the military, and China strongly opposes this. For a long time, the US has exaggerated the concept of national security, abuse export control measures, suppressed and hindered entities from other countries, seriously harmed the legitimate rights and interests of relevant entities, disrupted the security and stability of the global industry chain and supply chain, and hindered the recovery and development of the world economy. China urges the US to immediately stop its wrong practices and will take necessary measures to resolutely defend the legitimate rights and interests of Chinese entities. 6. The central bank increased its gold holdings by 1.42 million ounces in a year. How will the appreciation of the US dollar affect foreign exchange reserves? Importance: The latest foreign exchange reserve data has been released. According to data from the State Administration of Foreign Exchange, as of the end of December 2024, China's foreign exchange reserve was $3,202.4 billion, a decrease of $63.5 billion from the end of November, a decrease of 1.94%. As for gold reserves, the People's Bank of China increased its gold reserves for the second consecutive month. By the end of December 2024, China's gold reserves were 73.29 million ounces, overall, in 2024, the People's Bank of China increased its gold reserves by 1.42 million ounces. The renminbi has depreciated against the US dollar over the past three months. Wang Qing, chief macro analyst at Orient Securities, believes that the CFETS and other major renminbi exchange rate indexes have remained stable with a slight increase, and the People's Bank of China has a rich toolbox for stabilizing exchange rates, which means that there is no need for the central bank to intervene in the foreign exchange market in the short term. According to different standards, China's foreign exchange reserves of around $3 trillion are currently at a moderately adequate level. It is expected that China's foreign exchange reserves will remain stable slightly above $3 trillion in the near future. 7. Beijing Business Daily: Most of the stocks hit by "instant drops" are speculative, investors should steer clear. Importance: Beijing Business Daily wrote that recently, some A-share stocks have experienced a "instant drop" trend of sharp rise followed by sharp fall. Overall, most of these stocks are speculative in nature, with clear speculative activities. After a short-term sharp rise without performance support, the stock prices quickly fell after the speculation ended. Investing in stocks affected by "instant drops" carries high risks, and investors should stay away. In addition, the following news is also worth paying attention to: 8. The Information Office of the State Council will hold a routine policy briefing at 10 a.m. on Wednesday, to introduce the relevant information on strengthening and implementing the "two news" policies. 9. The Securities Association of China has launched end-of-year and early-year anti-illegal work, focusing on high-risk areas such as illegal stock recommendations. 10. The China Financial Futures Exchange has taken action against high-frequency trading, prohibiting such trading for traders recognized by the exchanges.Reduced transaction fees.1. Market reignites passion! Spot Bitcoin ETF attracts nearly $1 billion in a single day Recently, Bitcoin has resumed its climb after a setback last month, as investors bet that the crypto-friendly Trump administration will relax regulations on digital currencies. Data from asset management firm Farside Investors shows that funds flowing into spot Bitcoin ETF rebounded last Friday (January 3), with spot ETF attracting $9.081 billion in funds, the largest single-day inflow since late November 2024. 2. Trump disturbs the US bond market, nearly $3 trillion in maturing bonds will pose the next challenge The US bond market has begun pricing in ongoing disruptions caused by Trump, with lukewarm demand for the 30-year US Treasury bonds auctioned on the 6th pushing yields to 4.86% during trading, hitting a 14-month high dating back to November 2023. In addition, later this year, the US bond market will face nearly $3 trillion in maturing bonds, potentially causing more tricky issues for the bond market. 3. Rare! Federal Reserve officials directly comment on the US market: valuations are too high, large declines are likely On Monday, Federal Reserve Governor Lisa Koch issued a rare direct warning regarding US stocks. She stated that valuations of multiple asset classes, including stocks and corporate bonds, are high, indicating that the market risks are near the bottom of historical distributions. This implies that the market may be priced to perfection, making it susceptible to significant declines triggered by bad economic news or shifts in investor sentiment. As for investment opportunities in the market that investors are paying attention to, fusion energy is receiving attention. 1. Fusion energy technology to have a breakthrough soon? Multiple companies respond to business progress On January 7, media reports stated that OpenAI CEO Sam Altman revealed that fusion energy technology will have a breakthrough "soon," with him expecting the company Helion, in which he has invested, to demonstrate a net energy gain from fusion energy "soon." Several companies including Sheng Electrical, RongFa Nuclear Equipment, HIT Welding Industry, and Advanced Technology & Materials responded to the progress of their fusion-related businesses. CITIC SEC stated that fusion energy is expected to become the ultimate energy source in the civilian power generation field. Given the relatively clear technology pathway and increasing investments by various countries, the commercialization pace of fusion reactors is expected to exceed market expectations. CITIC SEC predicts that the global market for fusion energy devices may reach 2.26 trillion yuan between 2030 and 2035, with components such as high-temperature superconducting tapes and first walls in vacuum chambers having significant investment value. It is recommended to firmly grasp the technological trend and focus on long-term investment opportunities related to the commercialization of fusion energy. Additionally, the following sectors are also worth paying attention to: 2. Apple Concept: Apple's "budget version" iPhone new model set to start production this spring 3. Tire Industry: Natural rubber prices plummet, benefiting the tire industry In terms of announcements, there are both positive and negative aspects to consider, with China CSSC's restructuring approval being a positive factor while the risks associated with Shaanxi Meibang Pharmaceutical Group's continuous trading suspension are identified as negative factors.