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The 16th meeting of the Steering Committee for China-Vietnam Bilateral Cooperation was held, and the 16th meeting of the Steering Committee for China-Vietnam Bilateral Cooperation was held in Beijing. Member the Political Bureau of the Communist Party of China (CPC) Central Committee and Foreign Minister Wang Yi co-chaired the meeting with Vietnamese Deputy Prime Minister and Foreign Minister Pei Qingshan, and the heads of many ministries and commissions of both sides and local provinces and regions participated online and offline. Wang Yi pointed out that the two sides should maintain a stable strategic direction, maintain high-level exchanges and counterpart cooperation and exchanges, and jointly enhance their ruling ability. China supports Vietnam's preparations for the 14th National Congress of the Communist Party of Vietnam (CPV) and the socialist road in line with Vietnam's national conditions. We must lay a solid foundation for security, give full play to the "3+3" strategic dialogue between China and Vietnam in diplomacy, national defense and public security, and firmly unite and cooperate to safeguard common interests. It is necessary to promote mutual benefit and win-win, expand two-way trade and investment, build a stable and smooth cross-border industrial chain supply chain, improve the level of infrastructure interconnection and trade and investment facilitation, and strengthen cooperation in emerging fields such as artificial intelligence, e-commerce, digital economy and green development. We should cultivate people-to-people friendship, organize the 75th anniversary of the establishment of diplomatic relations between China and China and the China-Vietnam People-to-People Exchange Year next year, encourage more Vietnamese tourists to travel to Vietnam, and support the opening of flights between the two countries. It is necessary to strengthen coordination and cooperation under the mechanisms of the United Nations, ASEAN and Lanzhou-Mekong cooperation, practice true multilateralism and safeguard the common interests of developing countries. It is necessary to manage differences properly, adhere to bilateral friendly consultations, continue to make good use of the border negotiation mechanism, and promote new progress in maritime cooperation. (Ministry of Foreign Affairs)The chief financial officer of Goldman Sachs said that it is expected that strategic M&A activities will accelerate in 2025.U.S. stocks fell. Nasdaq China Jinlong Index fell more than 3%,iShares China large-cap ETF fell 3.8%, KraneShares CSI China Internet ETF fell 3.9%, and Nasdaq China Jinlong Index fell more than 3%. BILI.O fell by 8%, FUTU.O by 6% and Xpeng Motors by 4%.

Bank for International Settlements: Swap spreads are reflecting investors' concerns about excessive bond supply. The Bank for International Settlements (BIS) pointed out that huge government loans are having an impact on the global interest rate market, saying that investors have demanded higher premiums for buying sovereign bonds. In its quarterly report released on Tuesday, the agency pointed out that the swap spreads of various currencies and maturities have narrowed rapidly in recent months, which are "signs of possible oversupply". As investors are worried about huge debt and deficit expansion, the yields of government bonds in the euro zone and Japan have recently exceeded comparable swap rates. This leads to the so-called swap spread becoming negative. Because national debt is usually regarded as a safer investment than interest rate swap, it is unusual for the swap spread to enter the negative range. According to the Bank for International Settlements, the negative swap spread seems to reflect the pressure faced by investors and intermediaries because they need to absorb more government bonds in the near future. In the United States, the swap spreads for some maturities have been negative for many years.Wang Yi attended the 25th anniversary of Sino-Vietnamese land boundary demarcation and the 15th anniversary of the signing of the "Three Legal Documents". On December 10th, 2024, the Political Bureau of the Communist Party of China (CPC) Central Committee Commissioner and Foreign Minister Wang Yi and Vietnamese Deputy Prime Minister and Foreign Minister Pei Qingshan attended the 25th anniversary of Sino-Vietnamese land boundary demarcation and the 15th anniversary of the signing of the "Three Legal Documents" in Beijing. Wang Yi said in his speech that China and Vietnam are friendly neighbors linked by mountains and rivers. In the long history, they have condensed into the traditional friendship of "deep friendship between China and Vietnam, comrades and brothers", and supported each other and helped each other in promoting the cause of socialist construction. The land border between China and Vietnam is not only a friendly bond between the two countries, but also a bridge for cooperation between the two sides. Twenty-five years ago, under the personal care and guidance of the leaders of the two parties and countries, the two sides insisted on solving the border issue through dialogue and consultation. After nine years of negotiation and consultation, they signed the Sino-Vietnamese Land Border Treaty, which laid a solid foundation for peace, stability and long-term stability in the border areas between the two countries and created favorable conditions for consolidating the traditional friendship between China and Vietnam and deepening the comprehensive strategic partnership between China and Vietnam. Over the past 25 years, with the joint efforts of both sides, the level of border management between China and Vietnam has been continuously improved, cross-border exchanges have become increasingly active, and border-related cooperation has yielded fruitful results. Wang Yi pointed out that we should create a clear and stable border, give full play to the basic and programmatic role of the Sino-Vietnamese land border treaty and the "three legal documents", strengthen the construction of border-related mechanisms such as the Land Border Joint Committee, continue to promote the legalization, systematization and standardization of border management, enhance the efficiency of border governance, and maintain a clear and stable border and a good order in border areas. We should create a border of prosperity and development, constantly improve the layout of port passages, promote the formation of a smart and convenient, compound development and friendly exchange port system, promote the connectivity of cross-border infrastructure such as bridges and roads, and promote regional coordinated development. We should build a friendly border for generations, encourage local exchanges and people-to-people exchanges, carry forward the valuable experience of successfully delineating the land border between China and Vietnam, uphold the spirit of good-neighborliness and frankness, and jointly safeguard peace, stability and development in the region. (Ministry of Foreign Affairs website)Three quarters of the earth's land is gradually dry due to climate change. From December 2 to 13, the 16th Conference of the Parties to the United Nations Convention to Combat Desertification (COP16) was held in Riyadh, Saudi Arabia. On December 9, the United Nations released a report during the meeting, saying that about three-quarters of the world's land has gradually become dry due to climate change. In addition, the Copernican Climate Change Service of the European Union pointed out in a monthly bulletin of global air surface temperature in November released on December 6 that 2024 will be the hottest year on record in the world, and the current ultra-high temperature is expected to last until the first few months of 2025.

Three giant pandas in Belgium have returned to China. On December 10th, three giant pandas born in Paradise Zoo in Belgium will be sent back to China.The Kremlin says Putin met with the Indian Defense Minister.US Senate Majority Leader Schumer will meet with Secretary of State nominee rubio later today.