★ Macro Developments ★ Ministry of Commerce Holds Roundtable with Foreign Firms in Shanghai On November 5, during the 8th China International Import Expo, Vice Minister of Commerce Ling Ji chaired a roundtable meeting in Shanghai with representatives from over 30 foreign enterprises and chambers of commerce, including Alfa Laval, ArcelorMittal, Merck, Intel, Air Products, Nissan, LEGO, and the China-Britain Business Council. Officials from the State Council Research Office, State Taxation Administration, and National Immigration Administration addressed policy inquiries.
National Healthcare Security Administration Launches AI Audit Pilot The NHSA announced a nationwide pilot program for AI-powered medical insurance claim audits. The initiative aims to develop standardized knowledge bases, rule libraries, and model libraries to unify audit processes across regions while maintaining local innovation flexibility.
Bank of England Holds Rate at 4.00% The BOE maintained its benchmark rate at 4.00%, pausing its quarterly rate-cut cycle that began in August 2024. Traders anticipate a 15bps cut in December.
US October Layoffs Surge 175.3% YoY Challenger Gray & Christmas reported 153,074 job cuts announced in October, up 175% year-over-year. "Post-pandemic hiring adjustments, AI adoption, weak spending, and cost pressures are driving this trend," said Andy Challenger, the firm's COO.
★ Financial Institutions ★ Former TF Securities Analyst Kong Rong Joins GLSC Kong Rong, former global head of TF Securities'前瞻产业研究院 and chief overseas analyst, will become deputy dean of GL民生 Securities Research Institute. Kong has 15 years of experience and ranked second in New Fortune's overseas research analyst评选 for four consecutive years (2021-2024). GLSC's research integration with民生 Securities is nearing completion.
Eximbank Official Under Investigation Li Shengye, deputy head of Eximbank's Xinjiang branch, is being investigated for "severe disciplinary violations" by disciplinary authorities.
★ Market Data ★ Shanghai Composite Reclaims 4,000 Points The index rose 0.97% to 4,000 with 2.06 trillion yuan in turnover. Aluminum (Chalco, Nanshan Aluminum), chemicals (Yuntianhua, Chengxiang), and AI hardware (Cambricon +9%) led gains. Tourism stocks declined sharply.
Margin Debt Dips 143M Yuan Total margin balance stood at 2.47 trillion yuan on November 5.
Hang Seng Jumps 2.12% Tech stocks drove gains: SMIC +7%, Alibaba +4%. Gold miners surged (Zijin Mining +8%).
★ Corporate Updates ★ Fushun Special Steel Supplies Key Materials for Thorium Reactor The company confirmed supplying GH3535 alloy and other critical materials for China's first thorium-based molten salt reactor.
Biaobang Halts Control Transfer Biaobang (301181.SZ) aborted the plan due to disagreement on terms. Shares rose 64% since October and will resume trading November 7.
BeiGene Reports Q3 Profit of 689M Yuan Revenue grew 41.1% YoY to 10.08B yuan in Q3, driven by Brukinsa (zanubrutinib) and tislelizumab sales. The company plans a Japanese MZL submission in H1 2026.
Swancor Advanced Materials Completes Takeover Zhiyuan Hengyue now holds 58.62% (63.62% with concert parties) after the tender offer settlement.
Kweichow Moutai: Channel Inventory "Healthy" Executive Jiang Yan stated Feitian Moutai's inventory-to-sales ratio remains balanced, though series酒 products face pressure. The 1935 product shows healthier metrics.
Hua Hong Semiconductor Posts Record Sales Q3 revenue hit $635.2M (+20.7% YoY), with net profit at $25.7M. Guidance forecasts Q4 sales of $650-660M (12-14% gross margin).
Chow Tai Fook Closes 905 Stores in 2025 The jeweler's mainland stores shrank to 6,501 amid gold price volatility, ending years of expansion.
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