The Shanghai, Shenzhen, and Beijing Stock Exchanges have adjusted the margin ratio for financing, increasing it from 80% to 100% to promote the long-term healthy development of the market.
Three government departments have outlined plans to regulate competition within the new energy vehicle industry, vowing to resolutely resist disorderly "price wars" and strengthen cost investigations and price monitoring.
The Ministry of Finance, the State Taxation Administration, and the Ministry of Housing and Urban-Rural Development announced that the individual income tax policy supporting residents who sell their own homes and repurchase within a year will be extended. The policy, offering tax refunds on the IIT paid from the sale, will be in effect from January 1, 2026, to December 31, 2027. To qualify, the sold and repurchased homes must be within the same city, and the seller must be directly related to the new purchase as an owner or co-owner.
A joint symposium for the new energy vehicle industry was convened by relevant departments from the Ministry of Industry and Information Technology, the National Development and Reform Commission, and the State Administration for Market Regulation. The meeting emphasized implementing central government decisions, prioritizing innovation and quality, firmly opposing irrational price competition, and fostering a market order that values quality and fair competition. The three departments pledged enhanced coordination, intensified cost surveys, price monitoring, and stricter supervision and law enforcement.
On January 14, the Shanghai, Shenzhen, and Beijing Stock Exchanges simultaneously issued notices, announcing that, with approval from the China Securities Regulatory Commission (CSRC), the minimum margin ratio for investors financing the purchase of securities will be raised from the current 80% to 100%.
The People's Bank of China (PBOC) announced that on January 15, 2026, it will conduct 900 billion yuan in outright reverse repo operations to maintain ample liquidity in the banking system. The operations will use a fixed amount, interest rate tender, and multiple-price method, with a maturity of 6 months (181 days).
According to customs statistics, China's total foreign trade import and export value reached 45.47 trillion yuan in 2025, marking a 3.8% increase and representing the ninth consecutive year of growth since 2017. Exports grew 6.1% to 26.99 trillion yuan, while imports increased by 0.5% to 18.48 trillion yuan.
Data released by the China Association of Automobile Manufacturers on January 14 showed that China's automobile production and sales both exceeded 34 million units in 2025, setting new historical records. New energy vehicle (NEV) production and sales both surpassed 16 million units, with NEVs accounting for over 50% of new car sales domestically. NEV sales in 2026 are projected to reach 19 million units, a 15.2% year-on-year increase, while automobile exports are expected to hit 7.4 million units, up 4.3%.
Recently, the State Administration for Market Regulation, based on preliminary reviews and in accordance with the Anti-Monopoly Law, initiated an investigation into Trip.com Group Limited on suspicion of abusing its market dominance to engage in monopolistic practices. In response, Trip.com issued an announcement stating it will actively cooperate with the investigation, fully implement regulatory requirements, and work with industry participants to build a sustainable market environment. The company confirmed its operations are running normally and it remains committed to providing quality services to users and partners.
The Shanghai Municipal Commission of Economy and Informatization and other departments issued the "Shanghai High-Level Autonomous Driving Pilot Zone 'Model Speed Smart Mobility' Action Plan." The plan outlines a strategy centered on "model-driven leadership, application demonstration, industrial synergy, and policy support" to accelerate the transformation of autonomous driving technological innovation into industrial competitiveness. By 2027, the goal is to achieve large-scale deployment of high-level autonomous driving applications, establish robust public service platforms, reach internationally leading levels in key technologies and industrial scale, form a globally competitive intelligent connected vehicle cluster, and essentially build a world-leading high-level autonomous driving pilot zone.
An action plan issued by the General Office of the Shandong Provincial Government proposes that by 2027, Shandong will preliminarily establish a product carbon footprint management system through regional, industrial, and product pilot programs. By 2030, the policy system for product carbon emission management will be more comprehensive, green and low-carbon supply chains and production/lifestyles will be basically formed, and significant achievements will be made in the comprehensive green transformation of economic and social development.
According to a disclosure on the CSRC website on January 14, Zhejiang Sunflower Great Health Technology Co., Ltd. disclosed a restructuring plan on September 22, 2025. Recent market doubts regarding the actual production capacity and business model of the restructuring target prompted an investigation by the Zhejiang Securities Regulatory Bureau, which found the plan涉嫌 contained misleading statements. The bureau has subsequently initiated an investigation into Sunflower. The CSRC stated it will handle the matter according to law based on a comprehensive investigation to safeguard the order of the mergers and acquisitions market.
On the evening of January 14, more than 50 listed companies on the Shanghai and Shenzhen stock exchanges issued announcements regarding abnormal stock trading volatility or risk warnings. Notably, stocks related to AI applications and communications sectors密集 released such cautionary notices. Companies like Easymycin and ZhiDeMai stated they are currently not involved in GEO business.
On January 14, an Alibaba video channel previewed a launch event for the Q&A App scheduled for 10:00 AM on January 15, titled "Ushering in the Era of Getting Things Done." Previously, Alibaba's core management described the Q&A project as a pivotal battle for the AI era. Alibaba plans to integrate various life scenarios—such as maps, food delivery, ticket booking, office work, learning, shopping, and health—into Q&A, endowing it with powerful "task-handling" capabilities. Alibaba's H-share price opened higher and climbed on January 14, gaining over 6% intraday.
The World Economic Forum's "Global Risks Report 2026," released on January 14, indicated that geopolitical and economic risks continue to intensify in a new era of rivalry, with geo-economic confrontation listed as the top risk for 2026. Other major global risks include interstate armed conflict, extreme weather, societal polarization, and misinformation. Economic risks showed the fastest rise in current rankings. The report suggested that mounting debt issues, potential asset bubbles, and geo-economic conflicts could trigger a new wave of instability.
The White House announced on January 14 that, starting January 15, it would impose an additional 25% ad valorem tariff on certain imports of semiconductors, semiconductor manufacturing equipment, and derivatives.
U.S. President Trump told media at the White House on January 14 that he had been informed that "the killing has stopped" inside Iran. When asked by reporters if the U.S. had ruled out military intervention in Iran, Trump said, "We'll see what happens, we'll see how things develop."
Amir Ali Hajizadeh, commander of the Aerospace Force of Iran's Islamic Revolutionary Guard Corps, stated on January 14 that Iran is currently on its highest level of combat readiness and that its missile stockpile has increased since 2025. Separately, the Islamic Republic News Agency reported that Iran's Oil Minister, Javad Owji, recently stated that Iran's oil exports, measured by actual loadings, have achieved "record growth" over the past 14 months.
U.S. President Trump's special envoy, Robert C. O'Brien, posted on social media on January 14, announcing on behalf of Trump the start of the second phase of the "20-Point Plan" to end the Gaza conflict, shifting from a ceasefire to the demilitarization of Gaza, technocratic governance, and reconstruction.
The French National Assembly voted on two motions of no confidence against the government proposed by opposition parties on January 14. Both motions failed to pass, allowing the government led by Prime Minister Gabriel Attal to continue functioning normally.
Japanese Prime Minister Sanae Takaichi formally informed senior figures in the ruling coalition on January 14 of her decision to dissolve the House of Representatives on January 23 and call a snap election. According to a January 14 report by Asahi Shimbun, Japan's largest opposition party, the Constitutional Democratic Party, and Komeito have begun discussions on potentially forming a new party. Japanese media suggest the two parties aim to strengthen cooperation to counter the Takaichi camp in the lower house election.
Data released by the U.S. Bureau of Labor Statistics showed that the U.S. Producer Price Index for final demand increased 0.2% month-on-month on a seasonally adjusted basis in November 2025, and rose 3.0% year-on-year. The index for final demand goods surged 0.9% monthly, the largest increase since February 2024, serving as the core driver behind the overall PPI rise.
The U.S. current account deficit for the third quarter was -$226.4 billion, the smallest deficit since the second quarter of 2023.
The Federal Reserve's Beige Book, released on January 14, indicated that based on information collected up to January 5, economic activity increased slightly to modestly in eight of the twelve Federal Reserve Districts during the latest reporting period. Expectations for future activity were generally optimistic, with most Districts anticipating slight to modest growth in the coming months. On inflation, prices rose modestly in most Districts, with only two reporting slight price increases.
The Organization of the Petroleum Exporting Countries (OPEC), in its monthly oil market report released on January 14, maintained its previous forecast for global oil demand growth in 2026 and issued its first forecast for 2027. The report predicts global oil demand will increase by 1.38 million barrels per day (bpd) in 2026 compared to 2025, reaching 106.52 million bpd. For 2027, demand is forecast to grow by 1.34 million bpd to 107.86 million bpd.
Global metal markets continued their strong performance, with industrial metals showing particularly robust gains. On January 14, international silver prices surged again, hitting a fresh record high above $93 per ounce. Simultaneously, concerns over tight tin supply, fueled by policy changes and accidents in key producing regions, intensified, leading to a sharp spike in tin prices both domestically and internationally. Three-month tin on the London Metal Exchange closed up 9.88%, while domestic tin futures surged approximately 10% during the night session.
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