Shownotes Transcript
Xiaomi Successfully Tapes Out China's First 3nm Chip
小米成功流片国内首款3nm制程芯片
According to Beijing TV, Xiaomi has successfully taped out China’s first 3nm smartphone system-on-chip.据北京卫视消息，小米公司成功流片国内首款3nm手机系统级芯片。
Tape-out is a crucial step in chip manufacturing, referring to the production of sample chips after design completion for testing.流片是芯片制造过程中重要的一环，指的是设计完成后进行的样品生产测试。
With this successful tape-out, Xiaomi has taken a key step forward in the high-end chip sector.通过这次成功流片，小米在高端芯片领域迈出了关键一步。
Tang Jianguo, Chief Economist of the Beijing Municipal Bureau of Economy and Information Technology, praised this achievement.北京市经济和信息化局总经济师唐建国对此表示赞赏。
The success of this tape-out is expected to enhance the global competitiveness of China's smartphone chip industry.此次流片的成功有望提升中国手机芯片制造业的全球竞争力。
Xiaomi becomes the first domestic company to successfully tape out a 3nm smartphone chip, marking a significant breakthrough for China’s tech industry.小米成为国内首家成功流片3nm手机芯片的厂商，标志着中国科技行业的重要突破。
Nvidia Reaches Record-High Stock Price, Market Cap Surpasses $3.5 Trillion
英伟达股价创历史新高，市值突破3.5万亿美元
On October 21, Nvidia's stock rose by 4.14%, and its market cap surpassed $3.5 trillion for the first time.10月21日，英伟达股价上涨4.14%，市值首次突破3.5万亿美元。
Bank of America upgraded Nvidia's stock rating, raising its price target to $190.美国银行上调了英伟达的股票评级，并将其目标价格上调至190美元。
Nvidia's stock surge was driven by continuous growth in the AI sector and positive forecasts from Bank of America analysts.英伟达股价的上涨不仅受益于人工智能领域的持续发展，还因美银分析师的积极预期。
Meanwhile, TSMC’s financial report showed strong growth as well.与此同时，台积电公布的财报数据也显示出强劲增长。
TSMC's market cap also broke the $1 trillion mark, making it the first non-U.S. tech company to reach this milestone.台积电的市值也突破了1万亿美元，成为首个达到这一里程碑的非美国科技公司。
The competition among global tech giants for market value leadership remains fierce.全球科技巨头们的市值竞争依然激烈。
Largest LPR Reduction of the Year: 1-Year and 5-Year Rates Cut by 25 Basis Points
LPR年内最大降幅，1年期和5年期均下调25个基点
On October 21, the latest loan prime rate (LPR) was released, with both the 1-year and over-5-year LPR reduced by 25 basis points.10月21日，最新发布的贷款市场报价利率（LPR）显示，1年期和5年期以上LPR双双下降25个基点。
This marks the largest rate cut in 2024, bringing the 1-year LPR to 3.1% and the over-5-year LPR to 3.6%.此次降幅为2024年以来最大的一次调整，1年期LPR降至3.1%，5年期以上降至3.6%。
The rate cuts reflect the central bank's effort to guide policy rates downward.此次下调反映了央行引导政策利率同步下降的趋势。
Market experts believe this move aims to stimulate economic growth by lowering financing costs.市场专家认为，此举旨在通过降低融资成本来刺激经济增长。
In the future, the space for further monetary easing tools may be limited, but the current rate cut significantly eases financing pressures.未来，价格工具的空间可能有限，但当前的降幅已显著缓解了融资压力。
This is the third adjustment to the LPR this year, with previous changes in February and July.这是年内LPR第三次调整，前两次分别在2月和7月。
BYD and 'Black Myth: Wukong' Announce Global Strategic Partnership
比亚迪与《黑神话：悟空》达成全球战略合作
BYD has announced a global strategic partnership with the game 'Black Myth: Wukong,' becoming the game's exclusive automotive brand partner.比亚迪宣布与《黑神话：悟空》达成全球战略合作，成为该游戏唯一的汽车品牌合作伙伴。
The partnership focuses on jointly protecting China's cultural relics and national treasures globally.双方合作的核心是在全球范围内共同守护中国古迹及国宝。
In 2024, the two partners will begin digitizing cultural relics in Shanxi, providing scientific data for future restoration.2024年，双方将在山西率先展开古迹的数字扫描工作，为未来的修复提供科学依据。
This move showcases BYD's new branding strategy and its support for cultural heritage preservation.比亚迪此举不仅表明其在品牌推广方面的新战略，也展示了其对文化遗产保护的支持。
The partnership will gradually expand to other regions across China, further strengthening the protection of digital assets.此次合作将逐步扩展至全国其他地区，进一步提升数字资产保护的力度。