联想认为，AI PC会带动PC市场的升级换代，预计今年10%的PC将被替换成AI PC

• Alibaba, under the leadership of founder Jack Ma and executives Daniel Zhang and Joseph Tsai, is refocusing on its core e-commerce and cloud computing businesses after a period of reflection and business contraction. This shift includes divesting non-core assets, such as traditional retail operations, to protect its main revenue streams amid challenges like the pandemic, competition, and regulatory fines.
• Alibaba's internal restructuring aims to improve user experience and organizational efficiency in response to past shortcomings in market competition. The company has initiated significant personnel changes, emphasizing AI-driven strategies and prioritizing customer satisfaction over chasing KPIs.
• Despite efforts to revitalize growth through strategic adjustments in e-commerce and cloud services, Alibaba faces intense competition both domestically and internationally. Its stock price has significantly declined from its peak in 2020, reflecting market skepticism about the effectiveness of these reforms. Meanwhile, Alibaba continues to explore opportunities for expansion in international markets through platforms like AliExpress (速卖通) and its B2B services.

• On March 22, 2024, a terrorist attack occurred at the "Saffron City Hall" in Moscow during a concert by the Russian rock band "Picnic," resulting in over 140 deaths and more than 360 injuries. Four gunmen opened fire on the crowd and set the venue ablaze, marking it as the deadliest terrorist attack on Russian soil since the Beslan crisis in 2004.
• The attackers, identified as citizens of Tajikistan with no prior criminal records, were captured by Russian security forces. ISIS claimed responsibility for the attack, but Russia suggested investigating further to uncover any potential masterminds behind it, hinting at involvement from Ukraine or Western intelligence agencies without providing conclusive evidence.
• The incident has reignited discussions within Russia about reinstating the death penalty and has led to increased scrutiny and discrimination against Central Asian migrants. It also prompted international concerns about ISIS's capabilities and intentions, particularly with regard to targeting large-scale events like the upcoming Paris Olympics.

• Li Auto, led by CEO Li Xiang, reported a successful 2023 with 376,000 vehicles delivered and a net profit of RMB 11.81 billion, marking the first annual profitability among new electric vehicle makers. The company unveiled its all-electric flagship model, the MEGA, aiming to compete with luxury brands but faced challenges with image manipulation and rumored order cancellations.
• Huawei's automotive brand AITO has emerged as a formidable competitor to Li Auto, with its M7 model surpassing 100,000 units in deliveries within 170 days and outselling Li Auto in the early months of 2024. Huawei's aggressive strategy under HarmonyOS Smart Mobility poses a significant threat to other electric vehicle makers.
• Li Auto is responding to competition by introducing price reductions and new models while emphasizing investments in intelligent driving and smart cabins. The company aims for high sales targets in 2024 amidst intense competition from established brands like Tesla and BYD, as well as technology companies entering the automotive sector like Xiaomi.

推荐：马斯克旗下大模型开源；英伟达发布新数据中心AI芯片；高通新手机芯片支持百亿参数模型

• In 2023, China's innovative drugs achieved a "net export" in transactions, with disclosed overseas licensing deals surpassing $45 billion. The investment in the pharmaceutical sector has been declining for over two years, with domestic IPOs slowing down further in 2023.
• Chinese innovative drug companies are engaging in significant overseas transactions as a strategy to gain valuable cash flow during industry downturns and to validate their products through partnerships with established multinational pharmaceutical companies or leaders in specific segments.
• Despite the enthusiasm for overseas transactions involving Chinese innovative drugs, concerns remain about the future negotiation power of Chinese companies in these deals and whether this trend can help rejuvenate the industry amidst a challenging financing environment and market uncertainties.

• Li Auto, led by CEO Li Xiang, reported a profitable year in 2023 with 376,000 vehicles delivered and a net profit of 11.81 billion yuan. The company faced challenges after the launch of its first all-electric flagship model MEGA and three new extended-range models in early March 2024, experiencing negative reactions and organized attacks online.
• Huawei's automotive brand AITO has emerged as a significant competitor to Li Auto, surpassing its sales in the first two months of 2024. Huawei dominates in smart car technology and has expanded its automotive partnerships under the HarmonyOS for Cars system, posing a threat to Li Auto's market position.
• Despite setbacks with MEGA's launch, Li Auto is adjusting strategies by offering discounts on existing models and planning to introduce three new electric vehicle models by 2024. The company aims to maintain growth amidst intense competition from traditional automakers and tech companies entering the EV market.

• Financial consumers are attracted to the guaranteed returns of insurance products, despite the increasing risks and moral hazards in the financial market due to problematic insurance companies. The restructuring of Yi'an Property Insurance, part of the "Tomorrow Group," highlights these issues but also shows that its risk and difficulty in resolution were relatively minor compared to other troubled insurers with much larger deficits.
• The Chinese insurance industry faces challenges such as a growing amount of high-risk assets estimated at least 600 billion yuan, pressure from interest rate spreads, and difficulties in disposing of risk assets amid economic downturns. Regulatory bodies emphasize the importance of reforming small and medium-sized financial institutions and establishing a normalized mechanism for handling financial risks.
• Suggestions for addressing the challenges include conducting industry-wide stress tests, revising rules for setting aside liability reserves, enhancing investment returns for insurers, and differentiating between protective and investment-oriented insurance products. Effective governance and accountability for shareholders and management are crucial for preventing mismanagement within insurance companies.

More brands follow Huawei, which features the revamped technology in its current flagship, creating bandwidth bottleneck concerns

• In 2023, Chinese innovative pharmaceutical companies achieved a "net export" in drug transactions, with disclosed overseas licensing deals surpassing $45 billion. Despite the financing "winter" in the pharma industry and a slowdown in domestic IPOs, these transactions signify a positive development for Chinese pharma companies, providing crucial cash flow during industry downturns and validating their global participation.
• High-profile deals include Baiji Shenzhou's agreement with Bristol Myers Squibb potentially worth up to $8.4 billion for a dual-antibody ADC project, highlighting the shift towards innovative drugs and international market penetration. Additionally, AstraZeneca's acquisition of Conch Biotech for $1.2 billion marks significant foreign interest in Chinese biotech firms.
• The surge in outbound transactions from China is seen as both an opportunity for cash-strapped Chinese biotech firms to secure funding and a strategic move by global pharmaceutical giants to diversify their portfolios with innovative assets at competitive prices. This trend underscores the growing recognition of Chinese innovation on the global stage but also raises questions about valuation and negotiation power for future deals.

• A-shares experienced a downturn in 2023 despite initial optimism, with frequent breaches below the 3000-point mark and even a dip below 2800 points early in 2024.
• Regulatory efforts to stabilize the market, such as reducing stamp duty and encouraging buybacks and holdings by major shareholders, had limited impact. Experts suggest focusing on improving fundamentals rather than short-term market rescue measures.
• The Chinese government announced various measures to support the capital market, including lowering reserve requirement ratios for financial institutions and considering market value management in state-owned enterprise performance assessments, which led to a rebound in A-share indices.

• Satellite communication is becoming a standard feature in high-end smartphones, with OPPO and Honor announcing new models following Huawei's Mate 60 Pro, the world's first satellite voice call smartphone.
• The integration of satellite communication into consumer phones has been made possible by miniaturizing dedicated terminal systems to fit into slim smartphones, with China Telecom leading the development in collaboration with manufacturers like Huawei.
• The future of satellite communication may involve a mix of high, medium, and low Earth orbit constellations for uninterrupted global coverage, but challenges remain such as cost reduction and regulatory adjustments for frequency use.

• Chinese state-owned banks led a third round of deposit rate cuts in 2023, followed by joint-stock banks, marking the fourth adjustment since the market-driven reform of deposit rates in April 2022. The cuts across various terms aim to prepare for potential reductions in policy interest rates and loan prime rates (LPR), amidst discussions on the appropriate scale of monetary easing to support economic demand.
• There is debate over the extent of interest rate cuts needed to stimulate demand and support the economy. Some argue for significant monetary policy easing, including rate cuts and increased liquidity, while others call for a combination of policies beyond monetary measures, such as pro-consumption fiscal policies, debt resolution efforts, and reforms to spur private investment.
• Concerns about maintaining bank profitability margins are highlighted due to their role in supporting economic growth and preparing for potential credit risks. Additionally, there is discussion about balancing internal and external factors in monetary policy decisions, particularly considering exchange rate pressures from divergent U.S. and Chinese interest rate paths over the past two years.

• Henry Kissinger, a veteran U.S. diplomat and former Secretary of State, passed away at the age of 100. He was known for his significant influence on U.S. foreign policy during the Cold War, particularly in opening relations with China, detente with the Soviet Union, and his controversial role in Vietnam and other geopolitical hotspots.
• Kissinger's diplomatic legacy includes pioneering U.S.-China rapprochement and shaping strategic arms control agreements with the USSR. However, his tenure also involved contentious actions like supporting authoritarian regimes and military interventions that have drawn criticism over the years.
• Despite leaving active political roles by his mid-50s, Kissinger remained an influential figure through writing, consulting, and advising subsequent leaders. His views on international relations continued to be sought after by U.S. presidents across party lines as well as global leaders up until his death.

2022年10月10日——10月16日全球大事预报

While abortion rights tend to be viewed from a utilitarian perspective in China, we should consider people’s rights as well because there are social costs that everyone in society will have to bear

2021年9月20日—9月26日全球大事预报

Caixin correspondent bicycles across the Potomac and makes his way to a Capitol under siege, where Trump backers say ‘we did break in’ and call cops ‘fascists’

目前Arm PC普及的主要障碍是，很多软件仍与这一架构不兼容，迁移需要时间