锰硅主力 (ZCE_SM) 加自选

11月中国外汇储备低于预期（3.36万亿美元）：实际（3.346万亿美元）。11月中国外汇储备低于预期（3.36万亿美元）：实际（3.346万亿美元）

China Foreign Exchange Reserves (MoM) below expectations ($3.36T) in November: Actual ($3.346T).China Foreign Exchange Reserves (MoM) below expectations ($3.36T) in November: Actual ($3.346T)

中国商务部否认将加大力度提振消费。这一切都是为了重振中国的内需状况，同时努力为广大消费者创造更好的环境。社会方面也同样重要，这正是习主席共同富裕的目标所试图实现的。

China commerce ministry rebuffs that it will ramp up efforts to bolster consumption.It's all about trying to revive domestic demand conditions in China and it comes with trying to promote a better environment for consumers in general. The social aspect is also just as important and that is what president Xi's goal of common prosperity is trying to achieve.

中国的债务打击将地方政府融资平台推向了昂贵的影子贷款，重新引发了人们对潜在风险的担忧。中国对地方政府借贷的打击甚至将富裕的省份重新推向影子银行市场，在那里，国有实体正在接受高成本贷款以填补资金缺口。

China debt crackdown pushes LGFVs into costly shadow loans, reviving hidden-risk worries.China's crackdown on local-government borrowing is pushing even wealthy provinces back into the shadow-banking market, where state-run entities are taking on high-cost loans to plug funding gaps.

美国贸易代表格里尔呼吁缩小与中国的贸易规模，实现贸易平衡，并加强USMCA的执行力度。美国贸易代表格里尔表示，华盛顿的目标是与中国保持稳定但重新调整的关系，并强调随着时间的推移，双边贸易必须变得更加平衡，而且可能会更小。格里尔指出，美国对中国的商品贸易逆差已经下降了约25%，称这一转变是“正确的方向”。

USTR Greer calls for smaller, balanced China trade and tighter USMCA enforcement.U.S. Trade Representative Greer said Washington aims to maintain a stable but recalibrated relationship with China, stressing that bilateral trade must become more balanced, and likely smaller, over time. Greer noted the U.S. goods trade deficit with China has already fallen by about 25%, calling the shift “the right direction.