Flash News

TREE NEWS update: Chinese Vice Premier He Lifeng told the International Advisory Committee of the National Financial Regulatory Administration on the evening of the 19th that China will continue to expand high-level financial opening and accelerate building a financial powerhouse. He welcomed more foreign financial institutions to invest and deepen cooperation in China. Committee members said they are optimistic about China’s economic and financial prospects and will expand investment cooperation.

TREE NEWS update: China’s Ministry of Finance awarded a 1-month treasury cash deposit at a 1.44% rate, down from 1.62% in the previous auction, while the 3-month deposit cleared at 1.50%, up from 1.47%. The mixed results show shorter-term funding costs easing as the ministry places government cash with commercial banks.

TREE NEWS update: China’s National Development and Reform Commission will issue new incremental policies as needed to keep the economy within a reasonable range, Zuo Gang, deputy director of the NDRC’s comprehensive economic department, said at the commission’s October press conference. The NDRC will work with relevant departments to improve the efficiency of existing policies, accelerate the launch of major projects under the 15th Five-Year Plan and the “six networks” implementation plan, and speed up the deployment of new policy-based financial instruments, while opening nuclear, hydropower and water conservancy projects to private capital.

TREE NEWS update: China Development Bank issued a 3-year bond totaling 7 billion yuan on [date not specified], with an issuance yield of 1.4109% versus an expected 1.4000%. The bid-to-cover ratio was 4.27 times and the marginal bid ratio was 4.86 times, indicating strong demand for the policy bank’s debt.

TREE NEWS update: New growth drivers including high-end manufacturing, the smart economy and modern services contributed more than 40% of China’s economic growth in the first three quarters, Zuo Gang, deputy director of the NDRC’s Department of National Economic Comprehensive Affairs, said at a press conference on October 20. Outbound licensing of innovative drugs reached about $130 billion in the period, close to the full-year total for last year.

TREE NEWS reports: Japan’s Nikkei 225 fell 0.6% and the broader Topix dropped 0.9% by the morning session close. The declines mark a weaker start to the trading day for Tokyo equities, with both benchmarks in negative territory at the midday break.

TREE NEWS reports: The MMLC battery-grade lithium carbonate midpoint price rose 700 yuan to 102,450 yuan per tonne in early trading, compared with the 16:30 level the previous day. The figure is a daily benchmark for battery-grade lithium carbonate used in lithium-ion battery production.

TREE NEWS reports: China’s national railway network transported 3.05 billion tonnes of freight in the first three quarters of the year, with average daily loading of 188,000 wagons. The figures edged up slightly from the same period last year, keeping freight volumes at a persistently high level.

TREE NEWS update: China’s Deputy Prosecutor General Ge Xiaoyan said the country will strictly crack down on financial fraud, illegal fundraising, money laundering and other crimes that seriously endanger financial security, speaking at the 2026 Financial Street Forum in Beijing. Ge said authorities will push ahead with related work and resolutely guard the bottom line of preventing systemic financial risks.

TREE NEWS update: China Securities Regulatory Commission Chief Lawyer and Legal Affairs Department Director Cheng Hehong said the CSRC is evaluating the implementation effects of the Securities Law and advancing amendments to the Securities Investment Fund Law, and is studying the inclusion of a Securities Law amendment in the next National People’s Congress legislative plan. Speaking at the 2026 Financial Street Forum, he noted that the Financial Stability Law and amendments to the PBOC Law, Commercial Bank Law and Banking Supervision Law are already on the NPC legislative agenda.

TREE NEWS update: Geely Holding Group has put more than 60,000 methanol electric vehicles into operation, with cumulative mileage exceeding 25 billion kilometers, Chairman Li Shufu said at the 2026 Sustainable Global Leaders Conference in Shanghai on October 20. Li said Geely is pushing ahead with electrification and intelligentization, and that the methanol electric route is a sustainable development path the company has been exploring, with methanol able to form a diversified, complementary energy system alongside electricity and hydrogen.

TREE NEWS reports: Chongqing’s gross domestic product for the first three quarters of 2026 totaled 2,571.151 billion yuan, up 4.3% year on year at constant prices, the Chongqing Municipal Bureau of Statistics said. The primary industry added 152.664 billion yuan, up 3.9%; the secondary industry 857.374 billion yuan, up 1.7%; and the tertiary industry 1,561.113 billion yuan, up 5.8%.

TREE NEWS reports: Sichuan’s economy grew 4.9% year on year in the first three quarters of 2026, with gross regional product reaching 5.21 trillion yuan (52,121.45 billion yuan), the provincial statistics bureau said. The primary sector rose 3.7% to 405.33 billion yuan, the secondary sector gained 5.2% to 1.79 trillion yuan and the tertiary sector increased 4.8% to 3.02 trillion yuan.

TREE NEWS reports: Indonesia’s benchmark stock index rose 2% intraday. The yield on the country’s 10-year government bond fell 1 basis point to 7.42%. The moves came in the same session, with equities and bonds both strengthening.

TREE NEWS reports: China recorded 192 million border crossings in the third quarter of 2026, up 7.9% year on year, the National Immigration Administration said. Foreign nationals accounted for 23.27 million crossings, up 15.6%, of which 8.992 million entered visa-free, or 77.5% of all foreign entries, up 24.1% from a year earlier. Mainland residents made 95.96 million crossings and Hong Kong, Macau and Taiwan residents 73.14 million.

TREE NEWS update: China has formulated a five-year plan for cultural heritage protection, the first of its kind in the field. The plan was announced without further details on its scope, funding or implementation timeline. It marks a formal step toward long-term planning in heritage conservation.

TREE NEWS update: The People’s Bank of China said it has expanded its repo facility for overseas central bank-type institutions to include foreign currency RMB business clearing banks, to support their liquidity management and better serve offshore RMB business. Operational terms will follow the existing repo tool for overseas central bank-type institutions, the central bank said.

TREE NEWS update: The People’s Bank of China will conduct overnight reverse repo operations from October 21 to November 2, using fixed-rate, quantity-based tenders, with daily operation volume capped at 1 trillion yuan. The central bank announced the schedule without specifying a rate. The operations mark a shift to overnight tenors for its open market liquidity management over the two-week window.

TREE NEWS reports: China’s financial sector GDP grew 4.1% year-on-year in the third quarter, while real estate GDP fell 0.4%. The figures, released as part of the bureau’s quarterly GDP breakdown, show the two sectors moving in opposite directions.

TREE NEWS reports: Hong Kong’s Hang Seng Index fell 1% on the day, extending a decline in the benchmark gauge. No further details on the move or the drivers behind it were immediately available. The drop marks a pullback for the index.