Flash News

TREE NEWS update: China’s Foreign Ministry said it has no information to offer on a proposal by US President Donald Trump for trilateral talks with China and Russia. Spokesperson Mao Ning declined to say whether Beijing would accept the offer, telling a regular press briefing that she had nothing to provide on the question. Trump had said he took a positive attitude toward such a meeting.

TREE NEWS update: Chinese Foreign Ministry spokesperson Mao Ning said on Oct. 20 that differences between China and the EU on economic and trade issues can be fully resolved through dialogue. The remarks came at a regular press briefing after Foreign Minister Wang Yi concluded a four-nation tour of Eurasia, as reporters asked what message Beijing sent to Brussels amid rising China-EU trade friction.

TREE NEWS reports: Several Chinese banks have launched promotional offers waiving or cutting fees on their gold accumulation accounts, with some dropping the charge to zero, as international gold prices trade back at $4,100–$4,200 an ounce. The fee promotions are aimed at attracting retail savers into the banks’ regular gold purchase products during the price rebound.

TREE NEWS update: China’s small and medium-sized industrial enterprises above designated size saw their total profits rise 13.8% year on year in the first eight months of 2025, Wang Weiming, chief engineer of the Ministry of Industry and Information Technology, said at a State Council Information Office press conference on September 20. That marks the highest level for the period since 2022.

TREE NEWS update: China’s National Development and Reform Commission will work with relevant departments to expand domestic demand with greater intensity, focusing on three areas, said Zuo Gang, deputy director of the NDRC’s Department of National Economic Comprehensive Affairs, at a press conference. The first pillar combines improving livelihoods with boosting consumption, including raising the share of public service spending in fiscal expenditure and expanding consumer goods consumption such as new energy vehicles and smart products.

TREE NEWS update: China’s industrial sector contributed approximately 35% to the country’s economic growth in the first three quarters of 2025, the Ministry of Industry and Information Technology said. The figure indicates that industry remains a key driver of the economy. No further breakdown of the contribution or comparison with prior periods was provided.

TREE NEWS update: Wang Weiming, chief engineer of China’s Ministry of Industry and Information Technology, said on Oct. 20 that domestically produced drugs accounted for 80% of innovative medicines approved in the first three quarters of the year. Research in oncology, psychiatry, anti-infective, gout and rare disease treatments has made breakthroughs, Wang said at a State Council Information Office briefing.

TREE NEWS update: Agricultural Development Bank of China issued 6 billion yuan of 406-day bonds at a 0.0000% coupon against an expected 1.3700%, with a bid-to-cover ratio of 5.58 times and a marginal ratio of 3.68 times. It also issued 2 billion yuan of 2-year bonds at 1.4155%, below the expected 1.4400%, with a bid-to-cover ratio of 7.60 times and a marginal ratio of 1.00 times.

TREE NEWS update: China’s draft revision to the rules governing public securities investment funds would remove the hard clause forcing sponsored funds to liquidate if they fail to reach 200 million yuan within three years, putting their exit threshold on par with ordinary funds. More than 100 sponsored funds launched in 2023 could survive their three-year test if the rule takes effect. Funds that shrink to “mini” size and opt to keep running must have all fixed operating costs borne by the fund manager.

TREE NEWS reports: European stocks opened lower on the day, with the Euro Stoxx 50 down 0.5% at the open. Germany’s DAX fell 0.4%, France’s CAC 40 dropped 0.3%, and the UK’s FTSE 100 slipped 0.2%.

TREE NEWS reports: The Shanghai Composite closed at 3,735.37 on the day, gaining 0.12%, while the Shenzhen Component fell 0.14% to 11,801.29 and the ChiNext Index slipped 0.26% to 2,739.20. The CSI 300 dropped 0.54% to 4,152.11, but the STAR 50 rose 1.00% to 1,342.42, the CSI 500 added 0.60% to 6,841.44 and the CSI 1000 gained 1.02% to 6,766.90.

TREE NEWS reports: China’s commodity futures closed mixed, with the container shipping Europe line main contract tumbling nearly 8%. Rapeseed meal and live hogs fell more than 3%, while eggs, coking coal and industrial silicon dropped over 2%. Fuel oil and pure benzene bucked the trend, gaining more than 2%.

TREE NEWS update: Houthi forces said the Saudi-led coalition launched four airstrikes on Yemen’s northwestern Saada province on the morning of the 20th. The Houthi statement said the strikes occurred earlier that day; Saudi Arabia has not yet responded. No casualty or damage figures were given.

TREE NEWS update: Guizhou province issued a 20-year special local government bond for affordable housing worth 1.9316 billion yuan at a coupon of 2.1300%, with a marginal bid-to-cover ratio of 1.17 times against an expected 2.17. The province also sold a 20-year shantytown renovation special bond of 268.40 million yuan at 2.1600% and a 10-year general bond of 10.35004 billion yuan at 1.7100%, whose marginal ratio reached 30.30 times.

TREE NEWS update: Ukrainian President Volodymyr Zelensky said he discussed Starlink and missile interceptors with US Secretary of State Marco Rubio. Zelensky disclosed the topics of the conversation without providing further details on the timing, location or outcome of the talks. Starlink, SpaceX’s satellite internet service, has been a critical communications tool for Ukraine’s military.

TREE NEWS reports: China’s treasury futures climbed to fresh year-to-date highs across all maturities, with the 30-year main contract up 0.68%. The 10-year contract rose 0.22%, the 5-year gained 0.13% and the 2-year added 0.03%, extending a broad rally along the curve.

TREE NEWS reports: Japan’s Nikkei 225 closed down 1.3% at 64,075.42, while the broader Topix fell 1.4% to 4,009.21. South Korea’s KOSPI posted a steeper decline of 3.7%, closing at 5,552.74. The moves mark a broad selloff across major Asian equity benchmarks.

TREE NEWS reports: WTI crude oil fell $0.64 a barrel to $98.51 within five minutes, while Brent crude dropped $0.62 to $109.70 over the same period. The move reflects a sharp, short-term decline in both benchmarks during the session.

TREE NEWS reports: The main Europe container freight index futures contract on the Shanghai Futures Exchange fell 6% on Tuesday to 2,608.5 points. The move marks a sharp one-session decline in the exchange’s container shipping derivative.

TREE NEWS reports: Broad-based equity ETFs in China attracted a net inflow of 21.2 billion yuan on the most recent trading day, with sector and thematic ETFs adding a further 2.324 billion yuan, Wind data showed as of Oct. 19. Total assets across 1,612 stock ETFs, including cross-border funds, reached 3.32 trillion yuan. Over the past five sessions, more than 42.8 billion yuan flowed into CSI 300-tracking funds and over 16.7 billion yuan into ChiNext index products.