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On January 26th, the State Council Information Office held a press conference on the Ministry of Commerces work and operations in 2025. The conference introduced that in 2026, the Ministry of Commerce will further implement a special action to boost consumption, focusing on three aspects: policy formulation, event organization, and scenario optimization. First, policy formulation to increase benefits for consumers. This includes optimizing the implementation of the trade-in program for consumer goods to promote consumption of durable goods such as automobiles, home appliances, digital products, and smart devices. Pilot reforms of automobile circulation and consumption will be carried out to further unleash the potential of automobile consumption. The pilot program for prize-winning invoices will be implemented effectively; the list of pilot cities for prize-winning invoices was released last weekend. A series of practical and effective policy measures, such as promoting the first-launch economy, will be introduced. Second, events to create a strong consumption atmosphere. Focusing on three themes—goods consumption, service consumption, and consumption scenarios—more than 20 "Shopping in China" themed events will be organized this year, along with "city-specific" events in 15 pilot cities for internationalized consumption environments, and support for local "local station" events. Through a unified and distinctive event matrix, a strong consumption atmosphere will be created.On January 26, local time, Russian Presidential Press Secretary Dmitry Peskov stated that President Vladimir Putins current schedule does not include a phone call with US President Donald Trump, but this can be arranged quickly if needed. Peskov indicated that the territorial issue, a matter of principle for Russia, was among the consensus reached by the two leaders in Anchorage, and that corresponding consensus had been reached with the US and its president. Peskov stated that the Kremlin positively evaluated the commencement of constructive trilateral talks between Russia, the US, and Ukraine, but would not publicly discuss the specific terms of the agenda for the Ukraine negotiations. Furthermore, President Putin continues to receive direct briefings from Russian negotiators.On January 26, former European Commission President José Manuel Barroso stated that transatlantic relations are facing their lowest point since NATOs inception, with the United States destructive diplomatic practices forcing allies to re-evaluate the transatlantic relationship. Barroso said that transatlantic relations are increasingly driven by self-interest, gradually deviating from the traditional model based on shared "democratic values," describing the current moment as a "rupture phase." The Greenland dispute has shaken the confidence of European leaders and the public in the United States. Barroso stated that Trump is sometimes "tougher on allies and friends than on adversaries." In the defense arena, Barroso said that as the Trump administration continues to pressure the EU on defense spending, European leaders are also accelerating efforts to promote "European sovereignty." "If you want to preserve NATO, it will be a more European NATO," Barroso added, arguing that Europe should not rely solely on the United States but should prioritize strengthening its own defense capabilities.According to the German business daily Handelsblatt, three senior EU officials revealed that the European Commission will launch an investigation into the AI chatbot Grok on Monday under the Digital Services Act.On January 26th, the Hang Seng Index traded in a narrow range, while the Hang Seng Tech Index opened slightly higher but then trended lower. At the close, the Hang Seng Index rose 0.06%, while the Hang Seng Tech Index fell 1.24%. In terms of sectors and individual stocks, most heavyweight tech stocks declined, with Baidu (09888.HK) falling over 3% and Xiaomi Group (01810.HK) falling 2.8%. Gold and non-ferrous metal stocks rose across the board, with China Silver Group (00815.HK) closing up over 19%, and Lingbao Gold (03330.HK), China Gold International (02099.HK), and Zijin Mining (02899.HK) among others hitting new all-time highs. Oil stocks also performed strongly, with CNOOC (00883.HK) closing up over 4%, reaching a new record high.