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Professor Wu Yin, School of Economics, Southwestern University of Finance and Economics: In order to attract more social capital to participate in the construction of industrial innovation system, the Central Economic Work Conference proposed that scientific and technological innovation should lead the development of new productive forces and build a modern industrial system. In this regard, Wu Yin, a professor at the School of Economics of Southwestern University of Finance and Economics and director of the Institute of Political Economy, said in an interview that the meeting emphasized the important role of scientific and technological innovation in accelerating the formation of new quality productive forces, and made it clear that the core kinetic energy of building a modern industrial system comes from a number of future industries based on scientific and technological innovation. The meeting also emphasized improving the multi-level financial service system, giving sufficient financial support to potential industries and enterprises, and attracting more social capital to participate in the process of industrial innovation system construction. (SSE)Li Guangzi, director of the Banking Research Office of the Institute of Finance of China Academy of Social Sciences: The risk of small and medium-sized financial institutions is the focus of risk disposal in the coming period. Li Guangzi, director of the Banking Research Office of the Institute of Finance of China Academy of Social Sciences, told reporters that with the implementation of the policy package to resolve local government debt risks, the local government debt risks have obviously converged recently. In contrast, risks in real estate and small and medium-sized financial institutions are still outstanding. In this context, the meeting took the risks of real estate and small and medium-sized financial institutions as the focus of risk disposal in the coming period, which made clear the focus and pointed out the direction for further financial risk disposal. Especially in the field of real estate, because of its long adjustment cycle and wide coverage, it is still the top priority of risk disposal. (SSE)Adobe(ADBE.O) fell by 12%, the biggest one-day drop since March 15th.

WTI crude oil fell by 1.00% in the day and is now reported at $69.26/barrel.Zhang Yiqun, Vice Chairman of the Performance Committee of China Finance Association: The fiscal deficit will be greatly increased or released over 5 trillion yuan next year, and the Central Economic Work Conference proposed to implement a more active fiscal policy. Improve the fiscal deficit ratio, and ensure that the fiscal policy will continue to exert more efforts. Zhang Yiqun, deputy director of the Performance Committee of China Finance Association, said that the fiscal deficit will be greatly increased on the basis of 3% this year, and it is estimated that deficit ratio will be in the range of 3.5% to 4% next year, which will release more than 5 trillion yuan of space.The European Central Bank predicts that the inflation rate will drop to 2% in the fourth quarter of 2025.

According to the report, the Israeli Air Force has completed the investigation of the October 7 incident and will submit it to the Chief of Staff next week.The Turkish Foreign Ministry said that Minister Feidan was in Turkey, after the Syrian Ministry of Information said earlier that he was in Damascus.Lian Ping, Dean and Chief Economist of Guangkai Chief Industry Research Institute: It is expected that deficit ratio will be allocated 4%-4.5% next year, and its finance will be more active to meet the current economic needs. (Xinhua Finance)