Here's what happened in China's markets last trade day (12/13):

1. Ant Financial's Strategic Shift in Micro-Lending
Ant Small & Micro Loan, a subsidiary of Ant Group, is reportedly exiting the micro-lending industry, rebranding as Ant Micro Information Technology. This move, driven by regulatory concerns, marks a departure from consumer finance. Amidst this, a key Alibaba cloud executive resigns within two years.

2. China's Tech Advancements Amidst Global Skepticism
ChangXin Memory Technologies (CXMT), a leading Chinese memory chip developer, showcases its design capabilities for advanced GAA transistors. Despite concerns of potential US sanctions, CXMT emphasizes that the design isn't yet market-ready. Meanwhile, the US Department of Commerce criticizes Huawei's 5G smartphone chipset, but domestic demand for the Mate 60 Pro series remains robust.

3. China's Auto Exports Surge Despite Challenges
Chinese automobile exports grow 46.3% YoY in November, reaching 482,000 units. While this figure is slightly lower than the previous month, China maintains its status as the world's largest auto exporter. New energy vehicle (NEV) exports see a modest YoY increase but decline MoM. Despite challenges, YTD NEV exports are up 83.5%.

4. Slower Money Supply Growth in China Raises Economic Concerns
China's M2 money supply grows at 10% in November, slightly below market expectations. Aggregate financing to the real economy is also lower than expected. These indicators, coupled with negative inflation readings, underscore the need for stronger stimulus to boost economic confidence.

5. Beijing's 2024 Growth Pledge Amid Economic Challenges
During the Central Economic Work Conference, the Chinese government renews its commitment to stable growth in 2024. The focus is on addressing economic challenges, particularly in the property sector, without detailing specific stimulus measures.