Flash News

TREE NEWS update: China’s securities regulator, the CSRC, has opened public consultation on draft rules for privately offered fund-of-funds (FoF) managers. The draft sets diversification requirements to prevent concentration in a single fund, manager or asset, and allows differentiated investment-ratio limits for long-term capital including social security funds, insurance capital, qualified foreign investors and national-level government investment funds.

TREE NEWS reports: Elon Musk this week proposed merging Tesla (TSLA.O) and SpaceX (SPCX.O), and a former Justice Department official said the deal carries a real risk of antitrust problems. The official said regulators generally view such “vertical” mergers as pro-competitive for supply-chain efficiency, but could seek to block a Tesla-SpaceX combination if it is deemed a “vertical exclusivity” merger, where the company uses its position to disadvantage competitors at other levels of the supply chain — for example if only Tesla vehicles could use SpaceX’s Starlink technology, harming other autonomous-driving or EV makers.

TREE NEWS update: China’s securities regulator, the CSRC, has opened public consultation on draft rules governing private investment fund-of-funds. The 23-article draft defines the fund-of-funds concept and its categories, sets diversification requirements with differentiated investment ratios for long-term capital, and exempts fund-of-funds from counting toward one layer of investment tiers. It also imposes ongoing requirements on managers, sets operational and post-investment tracking rules, and details a negative investment list.

TREE NEWS update: China’s State Council General Office issued an opinion on adapting to AI development and building an employment-friendly growth model, calling for eastern regions to site core AI industries while guiding central and western regions to take on data labeling and smart-device manufacturing. The plan also backs smart-native and specialized SMEs, including access to targeted loans for job stabilization and expansion.

TREE NEWS update: China’s State Council issued an opinion on adapting to AI development and building an employment-friendly development model, calling for faster development of new occupations and occupation standards around AI scenario cultivation and large-scale application. It aims to expand demand for roles including digital management professionals, AI engineering technicians and AI trainers, and encourages localities to add AI-related professional title evaluation categories and carry out AI vocational skill level certification.

TREE NEWS update: China’s State Council General Office issued an opinion on building an employment-friendly development model adapted to AI technology, calling for efforts to mitigate AI’s job-replacement impact and establish an employment risk assessment mechanism for AI applications. The guidance sets out deployments for related work.

TREE NEWS update: Futu Securities has enabled BNB deposits and withdrawals for qualified professional investors (PI) in Hong Kong, allowing transfers between self-custody wallets and Futu crypto accounts over the BNB Smart Chain (BEP20) network. Withdrawals are restricted to verified whitelist addresses, linking on-chain assets with the brokerage’s securities trading ecosystem under a compliant setup.

TREE NEWS update: China’s State Administration for Market Regulation has revoked 50,800 CCC compulsory product certification certificates so far this year, the regulator said, as it continues a cleanup of every stage of the certification process. The move is intended to keep substandard products off the market. CCC certification is the mandatory system that underpins product quality and safety standards in China.

TREE NEWS update: Greece’s parliament voted on October 23 to ban the use of social media platforms by children under 15, with the measure taking effect on January 1, 2027. The binding vote in the legislature sets a fixed start date for the prohibition. The decision makes Greece one of the countries imposing a minimum age for social media access.

TREE NEWS update: China’s State Administration for Market Regulation will implement upgraded CCC certification rules for electric bicycles, toys and children’s vehicles starting Nov 1, the regulator said on Sept 23. The move is part of a comprehensive overhaul of CCC certification implementation rules this year. The announcement did not specify the changes to the certification requirements.

TREE NEWS update: China’s securities regulator has approved the establishment of Citigroup Securities (China) Co., Ltd., based in Shanghai with registered capital of 1.2 billion yuan. The wholly owned subsidiary of Citigroup Global Markets Holdings will conduct securities brokerage, investment consulting, underwriting and sponsorship, and proprietary trading. The approval was announced by the CSRC.

TREE NEWS update: China’s fiscal-financial policy package to boost domestic demand supported more than 28 trillion yuan ($3.9 trillion) in new credit in the first three quarters of 2025, up 3.1% year on year, Vice Director of the Ministry of Finance’s Financial Department Li Nan said at a press conference on October 23. The policies benefited 8.36 million enterprises and 147 million residents over the period.

TREE NEWS update: China’s Ministry of Finance will move quickly to pre-issue part of the 2027 new local government debt quota, Vice Director of the ministry’s Debt Management Department Zhao Zeyong said at a press conference on October 23. Under an authorization from the NPC Standing Committee and with State Council approval, the ministry each fourth quarter pre-issues next year’s new local government debt quota within 60% of the current year’s limit.

TREE NEWS update: China’s Foreign Ministry said on October 23 that it will closely monitor US moves after the Treasury Department proposed adding biotechnology to its restricted technology list under outbound investment security rules. Spokesperson Mao Ning said the US should stop broadening the concept of national security and interfering with normal business cooperation, adding that Beijing will take necessary measures to protect its legitimate rights and interests.

TREE NEWS update: China’s Ministry of Commerce on Thursday urged the US to immediately stop discriminatory and restrictive measures against Chinese research institutions, after the US Department of Defense published the results of its so-called research security review. A ministry spokesperson said Washington is politicizing and weaponizing scientific exchanges and pressuring US institutions to pick sides, warning that decoupling will harm both sides. Beijing said it will take necessary measures to protect the legitimate rights of Chinese research bodies.

TREE NEWS update: Shanghai’s Municipal Commission of Economy and Informatization issued an action plan on AI-empowered industrial services for 2027-2028, proposing subsidies of up to 5 million yuan per enterprise for using third-party large-model APIs deployed on cloud platforms or private deployments of third-party large models, to advance vertical large-model applications and lower the cost of using intelligent elements.

TREE NEWS update: Shanghai’s Municipal Commission of Economy and Informatization issued an action plan to advance AI-enabled industrial services for 2027-2028, encouraging companies to make forward-looking bets on physical AI. The plan calls for breakthroughs in world-model construction, multimodal physical perception, virtual-real interaction and autonomous decision-making, and supports firms in developing industrial agent technologies including task planning, tool use, long-term memory, interoperability and swarm coordination.

TREE NEWS update: Dubai’s crypto regulator has granted Bybit an active spot license for its local entity, two years after the exchange received a provisional nod. The regulator’s register now lists an active license, whereas in 2024 it showed a pending license of the same type under a different reference number.

TREE NEWS update: China’s first 18 actively managed exchange-traded funds (active ETFs) went on sale on the Shanghai and Shenzhen stock exchanges on October 23. The launch marks the debut of active ETF products in the domestic market, with the funds offered simultaneously on both bourses.