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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.Foreign exchange reserves and gold reserves:Industrial economy:

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.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.Executives of photovoltaic module battery companies said that they have signed a self-discipline convention and will start to control production capacity next month, which may have an impact on the photovoltaic industry.

700 billion yuan of ultra-long-term special treasury bonds have all been allocated to "double" projects, and the implementation will be accelerated, which will have an impact on infrastructure construction and economic development.Policy expectation: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.