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The Shanghai 50 index fell more than 2%, and the Shanghai and Shenzhen 300 index fell 1.8%.Li Dongsheng said that low-price competition has no way out, and it will only get involved. On December 11th, at TCL Global Innovation Conference, founder Li Dongsheng said that in the current market competition, low-price competition has no way out, and it will only get involved in endless "involution". To surpass its competitors, it is necessary to strive for more breakthroughs in high-end products. He Jun, vice president of TCL Industry, talked about the current development of industrial software enterprises in China in a subsequent interview. He also said that from the aspects of financing environment and market support for enterprises, China is not an environment where good software enterprises can be born at present, but in the long run, industrial software may make a breakthrough in China software, and this time will not be very fast, and it will not be seen for three or five years.FedEx signed a memorandum of understanding with Hong Kong Customs on the facilitation of cross-border express customs clearance. FedEx announced that it signed a memorandum of understanding with Hong Kong Customs on the facilitation of cross-border express customs clearance (CEFA) yesterday and became the first company to join the memorandum of understanding, which is expected to benefit from stable and efficient customs clearance procedures. CEFA aims to improve the efficiency of customs clearance of cross-border cargoes from the Mainland to Hong Kong. According to the Memorandum of Understanding, the Customs and Excise Department will provide customs clearance service for imported cargoes transported from the Mainland to Hong Kong at one of the FedEx service stations in the urban area of Hong Kong, and arrange for imported cargoes currently transported to Hong Kong by FedEx Guangzhou Asia-Pacific transshipment center to be transported by cross-border trucks equipped with electronic locks (E-locks) and global positioning systems (GPS).

Japanese Prime Minister's Assistant: Japan must be prepared for Trump to impose tariffs. Japanese Prime Minister's Assistant Akihisa Nagashima said that Japan needs to be prepared for US President-elect Trump's threat to impose tariffs on China, Canada and Mexico, and adjust the supply chain to reduce the collateral damage suffered by Japanese enterprises. In an interview with the media on Thursday, Akihisa Nagashima said that he had "frank" communication with Trump team members on tariff issues during his recent visit to the United States. "I realized that Japan must be ready for Trump to implement his plan," he said. Akihisa Nagashima said that these tariff measures may encourage Japan to reduce its dependence on these three countries, where some Japanese companies operate and parts made in Japan are transported to these three countries to manufacture finished products for export to the United States. "Japanese companies will certainly try to restructure the supply chain," he pointed out. "This is economically reasonable." (Interface News)The insurance and securities sectors fluctuated and fell by more than 7%. The insurance and securities sectors fluctuated and fell by more than 7%. Tianmao Group fell by more than 5%. China Life Insurance, Harbin Investment Co., Ltd., New China Life Insurance and Guolian Securities followed suit.The privatization of Avenue Industry is nearing completion. Patec, a precision engineering manufacturer, and related parties have accumulated 85.27% of the shares of Broadway Industrial Group, and the acquisition of Avenue Industry is nearing completion. According to the announcement, the offer price is S $0.197 per share, which is the final price and will not be further increased. The deadline for the offer is 5: 30 pm on December 23rd.

What is the significance of fiscal and monetary policy adjustment? Expert: The path of "more active and promising" fiscal policy has been clarified. The Central Economic Work Conference, which closed yesterday, pointed out that a more active fiscal policy and a moderately loose monetary policy should be implemented next year. What kind of signals are released behind these policies? In terms of fiscal policy, the Central Economic Work Conference requested that a more active fiscal policy should be implemented next year, so as to improve the fiscal deficit ratio, increase the issuance of ultra-long-term special government bonds, increase the issuance of special bonds for local governments, optimize the structure of fiscal expenditure, and secure the bottom line of "three guarantees" at the grassroots level. Experts said that these requirements clarified the path of "more active and promising" fiscal policy. Focusing on vigorously boosting consumption, the Central Economic Work Conference requires that special actions to boost consumption should be implemented next year, the basic pension for retirees should be appropriately raised, and the "two new" policies (large-scale equipment renewal and trade-in of consumer goods) should be implemented. (CCTV News)20% of the wildfires in California, which have burned more than 1,600 hectares, have been initially controlled. On December 12, local time, it was learned that 20% of the wildfires in Malibu, a coastal city in Los Angeles County, southern California, have been initially controlled, and local officials lifted some mandatory evacuation orders on the same day and allowed a certain number of people to return home. The wildfire has burned about 1,664 hectares of land, causing about 6,300 people to evacuate and about 22,000 people to be affected by the fire. Local officials said that wildfires also destroyed four houses, and another six houses were damaged. The California Fire Department said that nearly 2,000 firefighters are protecting buildings in the fire area and strengthening fire boundary control. (CCTV News)Many foreign ministers will hold talks in Jordan to discuss the latest development of the situation in Syria. Jordan announced that it will hold a meeting on December 14th local time to discuss the latest development of the situation in Syria. At the invitation of Jordan, the foreign ministers of the member countries of the Liaison Committee of Arab Ministers on Syria, established by the resolution of the Arab League, including Jordan, Saudi Arabia, Iraq, Lebanon and Egypt, and the Secretary-General of the Arab League, will hold a meeting in Aqaba, a city in southern Jordan. The meeting will also be attended by foreign ministers from the United Arab Emirates, Bahrain and Qatar. The Arab foreign ministers attending the meeting will also hold talks with the Turkish foreign minister, the US Secretary of State, the EU High Representative for Foreign Affairs and Security Policy, and the UN Special Envoy for Syria.