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Du Zhaocai, former deputy director of the State Sports General Administration, was sentenced to 14 years' imprisonment and fined 4 million yuan. On December 13, 2024, Wuhan Intermediate People's Court of Hubei Province publicly pronounced the bribery case of Du Zhaocai, former party member and deputy director of the State Sports General Administration and former party secretary and vice chairman of the Chinese Football Association, and sentenced the defendant Du Zhaocai to 14 years' imprisonment and fined 4 million yuan. The property and fruits of his crime shall be recovered according to law and turned over to the state treasury. It was found through trial that from 2012 to 2022, the defendant Du Zhaocai took advantage of his position as Party Secretary and Director of the Athletics Management Center of the State Sports General Administration, Vice Chairman and Secretary General of the Chinese Athletics Association, member of the Party Committee of the State Sports General Administration, assistant to the director, deputy director, and Party Secretary and Vice Chairman of the Chinese Football Association to provide assistance to relevant units and individuals in matters such as event hosting, personnel arrangement, player transfer, etc., and illegally accepted other people's property totaling RMB 4,341. (CCTV News)Ecb governing Committee Escriva: it is logical to further cut interest rates at the next monetary meeting. If the basic scenario remains unchanged, interest rates will continue to be cut. The general idea yesterday was to continue to cut interest rates by 25 basis points. The lack of vitality in the European economy is a challenge.Pimco and Fidelity believe that the economic outlook in the euro zone is weak, and the European Central Bank has cut interest rates by more than market expectations. Investors such as Pimco and Fidelity International believe that the economic outlook in Europe is bleak, which may force policymakers to cut interest rates by more than market expectations. The latest market pricing shows that the European Central Bank is expected to cut its key interest rate to 1.75% next year. The bank cut interest rates for the third time in a row on Thursday, to 3%. However, Fidelity said that the borrowing cost may be further reduced to 1.5%, and Pimco also believed that there was a risk of a larger interest rate cut. Further repricing may aggravate the rise of European bonds, which have outperformed the US and UK bond markets in 2024. A Bloomberg index, which tracks the return of euro bonds, has risen by more than 3% this year, while the corresponding indexes of US bonds and British bonds have risen by 2% and fallen by 2% respectively. "Market expectations are still more hawkish than we expected," said Salman Ahmed, global head of macro and strategic asset allocation at Fidelity. "If downside risks become a reality, then the European Central Bank may cut interest rates further."

Zhang Liling, Assistant Managing Director (Economic Research) of the Hong Kong Monetary Authority, will leave in May next year. On December 13th, the Hong Kong Monetary Authority announced that Ms. Zhang Liling, Assistant Managing Director (Economic Research), has resigned for personal reasons and will leave in May 2025. The Hong Kong Monetary Authority will arrange an open recruitment for the post of Assistant President (Economic Research), and will make a separate announcement after the recruitment process is completed.Yili shares: invested 130 million yuan to set up Anhui Jianwei Seed Fund. Yili shares announced that the company's wholly-owned limited partnerships, Jianwei Capital, Jianwei Seed Fund, Jianwei Parent Fund and Anhui Seed Fund jointly invested to set up Anhui Jianwei Seed Fund, with a total subscribed capital of 200 million yuan, and the company's wholly-owned limited partnerships contributed a total of 130 million yuan. The partnership term of the partnership enterprise is 12 years, and the fund can be extended twice for 1 year at the expiration of the term. The investment direction is mainly for the top ten emerging industries in Anhui Province, the future industries in the layout of new industries in various cities in the province and other key industries developed by the municipal government, focusing on small and medium-sized scientific and technological innovative enterprises with certain scientific and technological content and relatively new business models.The financial technology companies supported by Wal-Mart are valued at $2.5 billion. The traditional banking industry is under threat. Wal-Mart is injecting more funds into its newly-started financial start-ups, obtaining a valuation of $2.5 billion for this company, and indicating its ambition to further set foot in the financial services industry. According to informed sources, the world's largest retailer is jointly leading the financing of more than 300 million US dollars with investment company Ribbit Capital. This marks a new valuation for the company named One, in which Wal-Mart holds a majority stake. Wal-Mart has been providing products to many customers and employees in order to gain a greater foothold in the field of financial services. For the financial industry, the threat of Wal-Mart and other companies encroaching on its territory is getting closer and closer. Just last year, JPMorgan Chase CEO Jamie Dimon mentioned the competitive threat of Wal-Mart and other enterprises, pointing out that its hundreds of millions of customers and huge resources at its disposal were "extraordinary competitive advantages".

The green channel for emergency treatment of workers injured in coal mine safety accidents was opened. On December 13th, China Energy Chemical Geology Union and Emergency General Hospital (formerly Coal General Hospital) signed the Memorandum of Cooperation on Green Channel for Emergency Treatment of Workers Injured in Coal Mine Safety Accidents in Beijing. According to the agreement, employees of 38 committee units in the coal industry who need to go to Beijing for treatment if they are injured in coal mine safety accidents can apply to the Emergency General Hospital for emergency treatment through the China Energy Chemical Geology Union. Relying on the high-quality medical resources of the National Emergency Medical Research Center and the National Pneumoconiosis Diagnosis and Treatment Center, the Emergency General Hospital will provide safe, convenient, efficient and high-quality emergency medical services for injured workers in burns, bruises, wounds, skin, beauty and pneumoconiosis. In the next step, the two sides will communicate with each other on a regular basis about the construction of green channels, and jointly carry out related work such as pneumoconiosis screening and online free clinic for front-line workers in mining, so as to effectively protect the safety and health rights and interests of coal mine workers. (CCTV News)Gao Ruidong, chief economist of Everbright Securities: The capital market is working harder to serve the new quality productivity. The Central Economic Work Conference was held in Beijing from December 11th to 12th. Gao Ruidong, chief economist and director of the research institute of Everbright Securities, said in an interview that the Central Economic Work Conference set the general tone of macro-control in 2025 and in the future, emphasizing that fiscal and monetary policies are more powerful, real estate policies are further strengthened, and capital markets are more energetic in serving new quality productivity. "The capital market will be more powerful in serving new quality productivity." Gao Ruidong said that on the one hand, improve the multi-level financial service system, expand patient capital, attract social capital to participate in venture capital, and cultivate innovative enterprises in a gradient; On the other hand, deepen the comprehensive reform of investment and financing in the capital market, explore and expand the macro-prudential and financial stability functions of the central bank, innovate financial instruments, stabilize the financial market, and better serve the development of new quality productive forces. (SSE)Turkish Foreign Minister held talks with US Secretary of State to discuss the situation in Syria. On December 13th, local time, Turkish Foreign Minister Feidan held talks with US Secretary of State Blinken, focusing on the latest development of the situation in Syria. Feidan said that the talks discussed the cooperation between Turkey and the United States. The primary task of the two countries is to ensure the stability of Syria and prevent extremist organizations "Islamic State" and the PKK from occupying a dominant position in Syria. In addition, the advancement of the armed "Syrian National Army" supported by Turkey in the region is also one of the topics. Blinken revealed that the United States and Turkey have reached a broad consensus on the future of Syria. The two sides discussed the future role of the United States and Turkey in Syria and the necessity of continuing efforts to crack down on the extremist organization "Islamic State". (CCTV News)