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Industrial economy:Foreign exchange reserves and gold reserves:The market expects that the Central Economic Work Conference will be held in December, which may release more favorable policies and support the A-share market.

The audit authority of local government special debt projects may be delegated to the provincial level, and 12 provinces are expected to land, which may affect the financial operation and investment projects of local governments.Stock market performance and outlook:According to the data of the State Administration of Foreign Exchange, by the end of November, 2024, China's foreign exchange reserves were US$ 3,265.9 billion, up US$ 4.8 billion from the end of October, and its gold reserves also increased.

The State Administration of Financial Supervision supports overseas financial institutions to invest in the property insurance market in China, aiming at promoting the high-quality development of the property insurance industry.The audit authority of local government special debt projects may be delegated to the provincial level, and 12 provinces are expected to land, which may affect the financial operation and investment projects of local governments.CDB Securities predicts that the A-share market will gather momentum in 2025, and the policy shift has far-reaching significance, and market expectations and confidence will be restored.