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China Petroleum and others set up a joint exploration company in Xinjiang with a registered capital of 1 billion yuan. According to the enterprise search APP, PetroChina Tayou Joint Exploration (Xinjiang) Co., Ltd. was recently established, with the legal representative of Liu Weibo and a registered capital of 1 billion yuan. Its business scope includes: mineral resources exploration. Enterprise survey shows that the company is jointly owned by PetroChina Taihu (Beijing) Investment Co., Ltd., a wholly-owned subsidiary of China Petroleum, and Xinjiang Yaxin CBM Investment and Development (Group) Co., Ltd.The Russian Foreign Ministry condemned the United States for providing Ukraine with the proceeds from Russia's frozen assets and announced retaliatory measures. The Russian Foreign Ministry issued a statement on the 11th local time, condemning the United States for providing Ukraine with a loan of $20 billion with the proceeds from frozen Russian assets as collateral, calling this behavior "theft". According to a report quoted by Russian Tass news agency from Russian Ministry of Finance, in retaliation, Russia will use the proceeds from the frozen assets of western countries in Russia to support Russia's regional and economic development.The Ministry of Human Resources and Social Security and other five departments: the situation of receiving personal pensions in advance was added. On December 12, the Ministry of Human Resources and Social Security and other five departments issued the Notice on the Full Implementation of the Personal Pension System. The circular calls for optimizing the supply of products, and on the basis of existing financial products such as wealth management products, savings deposits, commercial pension insurance and Public Offering of Fund, specific pension savings and index funds will be included in the catalogue of personal pension products. The notice also increased the situation of receiving the pension in advance. In addition to reaching the age of receiving the basic pension, completely losing the ability to work, and going abroad to settle down, participants who suffer from serious diseases, receive unemployment insurance benefits to certain conditions, or are receiving the minimum living allowance can apply for receiving the personal pension in advance. (Xinhua News Agency)

The yield spread of US 10-year Treasury bonds relative to China's has widened to about 250 basis points, the largest in 22 years.The personal pension system has been implemented nationwide since 15th, and national debt and index funds have been included in the product range. Recently, the Ministry of Human Resources and Social Security, the Ministry of Finance, State Taxation Administration of The People's Republic of China, the General Administration of Financial Supervision and the China Securities Regulatory Commission issued the Notice on the Full Implementation of the Personal Pension System. The Notice makes it clear that from December 15th, 2024, all workers who participate in the basic old-age insurance for urban workers or urban and rural residents in China can participate in the personal pension system. The scope of implementation of preferential tax policies has been expanded from 36 leading cities (regions) to the whole country. The Circular stipulates that on the basis of existing wealth management products, savings deposits, commercial old-age insurance and Public Offering of Fund products, national debt, specific old-age savings and index funds will be included in the scope of personal pension products. Financial institutions should do a good job in publicizing the asset allocation of personal pension products, carry out investment consulting services according to laws and regulations, and explore the default investment services. Strengthen the protection of financial consumers and investors, and guarantee the participants' right to know and choose independently. The "Notice" pointed out that the scope of commercial banks offering personal pension services should be carefully determined, and commercial banks should be encouraged to sell all types of personal pension products. Commercial banks should improve online and offline service channels, provide more personalized services for participants to change their bank accounts and receive personal pensions, and provide convenience for wealth management companies, insurance companies and other institutions to carry out personal pension business. The "Notice" clarifies that on the basis of receiving the basic pension age, completely losing the ability to work, going abroad to settle down, etc., participants who suffer from major diseases, receive unemployment insurance benefits to meet certain conditions, or are receiving the minimum living guarantee can apply for receiving personal pensions in advance, and the specific measures will be formulated separately. Participants can apply through social insurance agencies at all levels, the national unified online service portal and commercial banks, and after verification, the commercial banks will issue personal pensions to their social security card bank accounts. The "Notice" requires relevant departments to strengthen supervision according to the division of responsibilities, strengthen information sharing, and promote the standardized operation of the system. At the same time, fully mobilize the enthusiasm of financial institutions and business entities to jointly promote the healthy development of the individual pension system. (CCTV News)The ethylene plant of ExxonMobil Huizhou Ethylene Phase I Project entered the commissioning stage, and ExxonMobil China announced that in December 2024, the 1.6 million tons ethylene plant of ExxonMobil Huizhou Ethylene Phase I Project was handed over to China and entered the commissioning stage in an all-round way. ExxonMobil Huizhou Ethylene Project is located in Huizhou Daya Bay Petrochemical Park. The first phase of the project mainly includes ethylene plants, high-end polyethylene and polypropylene production plants in the middle and lower reaches, and supporting utilities, docks, storage and transportation and environmental protection facilities.

The Russian Foreign Ministry condemned the United States for providing Ukraine with the proceeds from Russia's frozen assets and announced retaliatory measures. The Russian Foreign Ministry issued a statement on the 11th local time, condemning the United States for providing Ukraine with a loan of $20 billion with the proceeds from frozen Russian assets as collateral, calling this behavior "theft". According to a report quoted by Russian Tass news agency from Russian Ministry of Finance, in retaliation, Russia will use the proceeds from the frozen assets of western countries in Russia to support Russia's regional and economic development.BYD's legal department sued the blogger "Xu Lili Xll" and demanded compensation of 5 million yuan. BYD's legal department issued a statement saying that it was concerned that the online user "Xu Lili Xll" had made a lot of false statements against BYD and its sub-brands for a long time, which had caused serious damage to the company's brand reputation. In this regard, the company has fixed the evidence of relevant false statements, and decided to formally file a lawsuit against "Xu Lili Xll", demanding that it delete the infringing statements, eliminate the influence, and compensate RMB 5 million.In the concept of ice and snow economy, there were many daily limit changes, such as iceberg cold and hot, iceberg cold and hot, Longjian shares and Jingxue energy-saving daily limit, and Dalian Shengya, Changbai Mountain, Yeti shares and Sante ropeway were among the top gainers.