The State Council has released an implementation opinion to accelerate scenario cultivation and openness, promoting large-scale applications in new fields. The document outlines 22 key areas for scenario development, focusing on emerging industries, industrial transformation, sector-specific applications, social governance, and livelihood improvements.
China's CPI rose 0.2% year-on-year in October, according to the National Bureau of Statistics. Urban areas saw a 0.3% increase, while rural areas experienced a 0.2% decline. Food prices dropped 2.9%, while non-food prices rose 0.9%. The average CPI for January-October decreased 0.1% compared to the same period last year.
The Ministry of Finance announced it will continue implementing measures to boost consumption, including fiscal interest subsidies for personal loans in key sectors and business loans in related industries, aiming to stimulate demand in elderly care and childcare services.
The Ministry of Commerce temporarily suspended the second clause of its 2024 export control announcement on dual-use items to the U.S., effective until November 27, 2026.
China's foreign exchange reserves increased by $4.685 billion in October to $3,343.343 billion, marking three consecutive months of growth. The central bank has been increasing gold reserves for 12 straight months.
The State Council Information Office published a white paper titled "China's Actions on Carbon Peak and Carbon Neutrality," detailing progress in energy transition, key sector developments, and global climate governance contributions.
Regarding Nexperia Semiconductor, China has agreed to the Netherlands' request for consultations but emphasized the need for concrete actions to restore global semiconductor supply chain stability.
Ant Group has deployed a domestic computing cluster with 10,000 GPUs, achieving over 98% training stability and performance comparable to international counterparts, primarily used for AI model training in risk control.
ST Huatong applied to remove its special risk warning after meeting Shenzhen Stock Exchange requirements following a 12-month period since its penalty decision.
Shanghai Xiba announced two executives are under investigation for alleged short-term trading, which the company states won't significantly impact operations.
Huadian Energy plans to invest 12.043 billion yuan in a coal-power and wind power integration project in Heilongjiang.
Internationally, U.S. President Trump expressed willingness to continue talks with Russian President Putin in Budapest, while Russia launched large-scale strikes on Ukrainian energy and transport infrastructure. The U.S. Senate failed to pass a funding bill, prolonging the partial government shutdown.
U.S. stocks ended mixed, with the Nasdaq down 3.04% for the week. Microsoft recorded its longest losing streak since November 2011.
Key upcoming events include China's State Council policy briefing on scenario development (Nov 10), OPEC's monthly report (Nov 12), and the 6G Development Conference in Beijing (Nov 13-14).
Analysts suggest the market is consolidating for potential year-end momentum, with rotating opportunities in sectors like batteries, photovoltaics, and chemicals.
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