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IEA Monthly Report: The decision of OPEC+has reduced the potential oversupply. The International Energy Agency (IEA) said today that the recent decision of OPEC+member countries to postpone the planned production increase has "greatly reduced" the potential oversupply next year. Nevertheless, IEA said that in view of the persistent overproduction in some OPEC+member countries, strong supply growth outside the alliance and moderate global oil demand growth, there may still be a serious oversupply in the oil market in 2025. IEA predicts that even if all OPEC+production reduction plans remain unchanged, supply will exceed demand by about 950,000 barrels per day next year. IEA said that if OPEC members start increasing production in April as planned, the oversupply will increase to 1.4 million barrels per day.Alleged of tax evasion, Adidas' German headquarters was raided for two days in a row. On December 11th, local time, criminal prosecutors and customs investigators raided Adidas' German headquarters for the second day in a row, which was an escalation of years of investigation on the sports brand's alleged tax evasion. The amount of tax evasion may exceed 1.1 billion euros. The European Prosecutor's Office (EPPO), headquartered in Luxembourg, said on the 11th that it was conducting a "criminal investigation" against a German sportswear trading enterprise group on the grounds that it was "suspected of tax evasion related to customs duties and import and sales taxes". Adidas said that this long-term investigation is unlikely to have "any significant financial impact".Mengke Pharmaceutical Co., Ltd.: The new packaging of Contizontamide tablets will be on the market soon. Mengke Pharmaceutical Co., Ltd. announced that the company has launched Contizontamide tablets with new packaging specifications, and a box of 12 tablets will be on the market soon. Contizontamide tablet is a new class 1 oxazolidinone antibacterial drug with global intellectual property rights. It was approved by National Medical Products Administration, China on June 1st, 2021 for the treatment of complex skin and soft tissue infections.

People's Insurance Company of China: In the first November, the original insurance premium income of the three subsidiaries totaled 646.933 billion yuan. From January 1, 2024 to November 30, 2024, the original insurance premium income obtained through the subsidiaries of China People's Property Insurance Co., Ltd., China People's Life Insurance Co., Ltd. and China People's Health Insurance Co., Ltd. was 496.845 billion yuan, 102.591 billion yuan and 47.497 billion yuan respectively.The monkeypox vaccine with independent intellectual property rights in China was approved for clinical use. On December 10th, the monkeypox vaccine jointly developed by China Bio-Beijing Institute of Biological Products and China Center for Disease Control and Prevention received the approval notice of drug clinical trial issued by National Medical Products Administration, and it was registered and classified as Class 1.2 innovative vaccine. The vaccine is an innovative vaccine independently developed by scientists in China with completely independent intellectual property rights, which is expected to play an important role in the prevention and control of diseases caused by monkeypox virus in China. (China Biology)Lou Feipeng, a researcher at the Postal Savings Bank: The full implementation of the personal pension system is just the right time for financial institutions to usher in development opportunities. "The full implementation of the personal pension system is just the right time." Lou Feipeng, a researcher at China Postal Savings Bank, said that in the past two years, the personal pension system has achieved remarkable results in general, with a rapid increase in the number of accounts opened and a rapid enrichment of financial products. The data shows that at the end of June 2024, the number of individual pension accounts opened exceeded 60 million. "The implementation of the personal pension system in the pioneering urban areas has enabled the residents to have a more intuitive understanding of the personal pension system. At the same time, it has accumulated rich experience for government departments and financial departments to improve the personal pension system and optimize personal pension financial services. " Yan Feipeng said. (SSE)

The RMB exchange rate is expected to appreciate again at the end of the year. The research team of the Financial Market Department of Agricultural Bank of China said that the market transactions have shown obvious narrative-driven characteristics in recent years. Considering some recent changes, the RMB exchange rate is expected to stabilize and rebound again in the future. First, the pricing of Trump transactions in the international market has come to an end. Second, there has been a major shift in domestic macro policies. Since late September, financial policies such as lowering the RRR, cutting interest rates, supporting the stock market and the real estate market, and fiscal debt measures have boosted market confidence. Third, there has been a favorable change in supply and demand in the domestic foreign exchange market. The end of the year is the traditional peak season for enterprises to settle foreign exchange, and the continuous forward discount will lead to the backlog of foreign exchange settlement, which will further amplify the demand for foreign exchange settlement at the end of the year. Further considering the overall situation of the game between China and the United States, Trump's return not only means the enhancement of external shocks, but also the upgrading of internal policies. The RMB exchange rate will maintain two-way fluctuations next year, and it is no longer a steady profit for enterprises to hold US dollars and postpone foreign exchange settlement. While stabilizing domestic foreign trade and foreign investment, continuing to expand high-level opening-up and expanding domestic demand in an all-round way implies the certainty of economic stabilization and recovery, which is expected to promote the return of short-term securities investment and medium-and long-term direct investment and help the RMB stop falling and rebound.Jichuan Pharmaceutical Co., Ltd. and Dongke Pharmaceutical Co., Ltd., a wholly-owned subsidiary, have recently received the Drug Registration Certificate for Children Faropenem Sodium Granules and Cefezoxime Sodium for Injection approved and issued by National Medical Products Administration.The US media said that the Biden administration is considering imposing new sanctions on Russian oil trade. Informed sources: The details have yet to be finalized. The Bloomberg website reported on the 10th local time that the Biden administration is considering imposing new sanctions on Russian oil trade before Trump returns to the White House, and the specific details have yet to be finalized. The article said that the Biden administration is weighing new and stricter sanctions against Russia's lucrative oil trade, trying to increase pressure on the Kremlin before Trump returns to the White House. According to an insider who asked not to be named, the details of possible new measures are still being worked out, but Biden's team is considering imposing restrictions on some Russian oil exports. Up to now, the Russian side has not responded. (CCTV)