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 Big financial stocks rose in intraday trading, with great wisdom hitting the daily limit. Tianmao Group, Guosheng Financial Holdings and Tianli Technology had previous daily limit, while huijin technology, Compass, Winson, Dongxing Securities and Oriental Fortune rose more than 5%.Low-altitude economic concept stocks strengthened locally, with Guangyang shares and Rice Information up more than 6%, and Tianao Electronics, Wan Feng Aowei and Jindun shares up more than 5%.

In November, China's dollar-denominated exports increased by 6.7% year-on-year, while imports decreased by 3.9%.Wang Zhonglin, Governor of Hubei Province had a discussion with He Xiaopeng, Chairman of Xpeng Motors. On the morning of December 9, Wang Zhonglin, Deputy Secretary of Hubei Provincial Party Committee and Governor, had a discussion with He Xiaopeng, Chairman and CEO of Xpeng Motors. Wang Zhonglin expressed the hope that Xpeng Motors will continue to deepen its cooperation with Hubei, further increase its investment layout in Hubei, expand cooperation space in new energy and intelligent networked vehicles, low-altitude economy, humanoid robots and other fields, promote more new technologies and new products to land in Hubei, and help Hubei forge ahead in promoting scientific and technological innovation and industrial innovation, and accelerate the cultivation and expansion of new quality productivity. He Xiaopeng said that Xpeng Motors will continue to regard Hubei as the key area of business layout, further increase its investment in Hubei, actively promote the transformation and upgrading of Hubei's automobile industry and the development and growth of emerging industries, and make new and greater contributions to accelerating the establishment of Hubei as an important strategic fulcrum for the rise of central China.Huang Wentao, China CITIC Construction Investment Co., Ltd.: Policy strength and tools are expected to achieve new breakthroughs. 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. Huang Wentao, chief economist of CITIC Jiantou, said in the latest interpretation that the meeting first mentioned "strengthening unconventional countercyclical adjustment", and the policy framework is expected to get rid of the mindset and achieve new breakthroughs in strength and tools. Huang Wentao mentioned that the "unconventional" policy will be mainly reflected in the breakthrough of the original conventional policy model, including: First, the breakthrough of monetary policy from "steady" to "moderately loose", and the transformation from the traditional model to the modern central bank system in the transmission system. Second, it is expected that the fiscal deficit constraint of 3% will be greatly exceeded, and the mode of financial development may also be optimized in the past, with more inclination to the residential sector. Third, in stabilizing the capital market, more powerful and effective measures are introduced to prevent excessive market volatility. "The stocks and debts are expected to continue." Huang Wentao pointed out that the unconventional countercyclical adjustment policy not only provides sufficient impetus for the recovery of economic vitality, but also provides strong support for improving expectations and reviving confidence, and provides sufficient source of living water for the capital market. The stock market is expected to continue to strengthen and the risk-free rate of return is expected to continue to decline.

Goldman Sachs: Take a positive view on the demand prospect of Xiaomi Yuqi and rate it as "Buy". Goldman Sachs published a report that it has a positive view on the demand prospect of Xiaomi Yuqi based on the disclosed specifications, performance and endurance, and thinks that Xiaomi Yuqi has the potential to become one of the best-selling high-end new energy SUVs in China. According to the report, since the strong debut of the first model SU7 in March this year, its performance has exceeded the original expectations of the bank, and it has continued to consolidate its leading position as one of the best-selling premium BEV cars. Since this year, the average monthly retail volume has reached 13,000, which is in line with Tesla Model 3. Since October 2024, the average monthly retail volume has reached more than 20,000. The bank gave Xiaomi a "buy" rating with a target price of HK$ 33.3.Morgan Stanley published a research report that China's monetary policy changed from "prudent" to "moderately loose" to support market sentiment in 2025, and the real policy may focus on interest rate reform in 2025. Morgan Stanley said that the increased attention to reactivating the capital market should also help support market sentiment and keep the trading volume high in the short term. The bank also suggested that optimizing existing loans, more rational bank loan growth and interest rate reform may be the real focus in 2025. The bank believes that risk-based loan pricing may continue to recover, which will help to buffer the bank's net interest margin, even if some additional loan market quotations are lowered.China's trade account in November was 97.44 billion yuan in US dollars, with an expected 93.5 billion yuan and a previous value of 95.72 billion yuan.