This week's economic data has been released, and there are several details worth analyzing—

**Prices and Investment Matters**

The National Bureau of Statistics just announced that the CPI for the full year of 2025 remained flat compared to the previous year, but the December CPI increased by 0.8% year-on-year, with the growth rate continuing to expand. This is a noteworthy signal. At the same time, the central bank is adjusting the deposit certificate interest rate policy, with some banks' short-term large-denomination deposit rates already entering the "0" range, which is basically the same as regular fixed deposits. Experts predict that this downward trend may continue. Interestingly, the authorities just announced that starting April 1, the VAT export tax rebate for products like photovoltaic panels will be canceled. The impact on related industry chains is still being digested by the market.

**Policy Adjustments and Livelihood**

The Medical Insurance Bureau and the Ministry of Finance made a major move—expanding the scope of personal accounts for employee medical insurance from intra-provincial to nationwide, which is a positive for people working and seeking medical care across provinces. Additionally, the authorities explicitly stated that they do not support treating bride price as a kind of "investment" that can be arbitrarily revoked, which is a redefinition of civil relationships. The State Administration of Radio and Television is also cracking down on the "adultification" trend in children's short videos, strictly prohibiting portrayals of "domineering CEO" and other age-inappropriate roles. This regulatory effort is a typical example of starting from content regulation.

**Market and Industry Competition**

The stock market is looking bright— the Shanghai Composite index has once again surpassed 4100 points after ten years, recording 16 consecutive days of gains. The trading volume across the two markets also broke through 3 trillion yuan, indicating high market sentiment. However, the authorities are also monitoring the "involution" competition in the food delivery industry. Platforms like Meituan, Taobao Flash Sale, and JD.com Delivery have actively cooperated with investigations. It remains to be seen what policies will be introduced next.

There was also some buzz around university procurement—Xiamen Jimei University’s purchase of 7.2 million yuan worth of cola has attracted attention. The school responded that this was for a two-year service period, considered normal pricing, with an average unit price even lower than the market price. Nonetheless, this has sparked considerable online discussion.

To sum up, these policy and data changes at the start of 2026 reflect ongoing adjustments in the economic structure and shifts in regulatory focus, which are worth continuous attention.