Flash News

TREE NEWS update: China’s Ministry of Finance said residents who did not pay individual income tax when contributing assets to an offshore trust will not have the assets’ original cost adjusted to their market value at the time of contribution. In a Q&A on its offshore trust individual income tax policy, the ministry said the original cost remains the price at which the individual acquired the property, citing Articles 3 and 17 of its announcement on the matter.

TREE NEWS update: China’s Ministry of Finance issued guidance on individual income tax treatment for unlisted equity placed into offshore trusts, stating that market value may be determined using the net asset valuation method and must not fall below the corresponding net asset share. Tax paid at the contribution stage resets the asset’s original cost to that market value, and tax on later transfers is calculated on proceeds minus original cost and reasonable expenses.

TREE NEWS update: China’s National Health Commission spokesperson Yang Jinrui said at a Nov. 13 press conference that all forms of surrogacy are strictly prohibited in the country. Organizing surrogacy is illegal and criminal, subject to severe legal punishment, and the so-called surrogacy agreements are not protected by law, with participants potentially facing legal liability.

TREE NEWS update: Guangxi issued 2.932 billion yuan of 10-year general local government bonds at a coupon rate of 1.6000%, with a bid-to-cover marginal ratio of 1.92 times against an expected 1.60. It also sold 1.770 billion yuan of 10-year special-purpose bonds at 1.6000% and 1.033 billion yuan of 3-year land-reserve special bonds at 1.2400%, with marginal ratios of 2.02 and 2.63 times respectively.

TREE NEWS update: China’s Vice Minister of Finance Liao Min met with Bill Ford, Chairman of US investment firm General Atlantic, in Beijing on the afternoon of November 6, 2026. The two sides exchanged views on China-US economic and trade relations and artificial intelligence. No further details of the meeting were disclosed.

TREE NEWS reports: Congressional Democrats are moving to investigate Health and Human Services Secretary Robert F. Kennedy Jr. after this week’s attempt to impeach Defense Secretary Pete Hegseth was blocked. When Democrats regain control of Congress in January, a group of senior officials, including Secretary of State Marco Rubio, may also face investigations or impeachment proceedings.

TREE NEWS update: Toshiba reported record net profit for the first half of its fiscal year, driven by a rise in the valuation of its stake in memory-chip maker Kioxia. The Japanese conglomerate did not disclose the profit figure or the size of the valuation gain in the statement.

TREE NEWS update: Billionaire investor and Nvidia shareholder Leo KoGuan said Friday he would not put further money into Nvidia if anyone other than Jensen Huang were at the helm. “Without Jensen Huang, there will be no further investment,” KoGuan said in a text message, adding that he holds about $1.3 billion in Nvidia shares. His comments came as he voiced support for Huang.

TREE NEWS update: China’s Foreign Ministry said it consistently opposes the abuse of export control measures that disrupt global supply chains, spokesperson Mao Ning told a regular press briefing. She was responding to questions on Nvidia chips reportedly appearing in Shanghai data centers and on U.S. lawmakers and the Commerce Department pushing chip legislation to block Chinese firms from obtaining American computing power through foreign channels. Mao also addressed the issue ahead of the APEC summit.

TREE NEWS update: China will host the 33rd APEC Economic Leaders’ Meeting in Shenzhen next week, its first time as APEC host in 12 years, foreign ministry spokesperson Mao Ning said. Beijing expects members to build consensus and adopt a Shenzhen Leaders’ Declaration, with practical outcomes in trade, connectivity, the digital economy and artificial intelligence.

TREE NEWS update: Duan Yongping said on November 13 that he will not sell his Nvidia shares and that he sold a large number of puts that day, in a reply to a网友 question. He also said Jensen Huang is unlikely to return to his post if the core reasons behind his resignation remain unresolved, but raised the possibility of Huang returning as an adviser in a “shadow CEO” role with influence but no signing authority, with clarity only after hearings conclude.

TREE NEWS update: Chinese Foreign Ministry spokesperson Mao Ning said on November 13 that China is maintaining communication with relevant parties regarding a summit of the leaders of China, the United States and Russia. Speaking at a regular press briefing in response to a question on the matter, Mao said further information would be released in due course. No date or venue for any such meeting was disclosed.

TREE NEWS reports: Mitsubishi UFJ reported second-quarter net profit of ¥821.47 billion, topping the ¥728.78 billion estimate. The bank declared a second-quarter dividend of ¥48.00 per share against an expected ¥52.34, while first-half net profit reached ¥1.63 trillion versus the ¥1.47 trillion forecast. It raised its full-year net profit guidance to ¥2.80 trillion from ¥2.70 trillion and lifted the annual dividend forecast to ¥100.00 from ¥96.00.

TREE NEWS reports: China’s treasury futures closed lower on the day, with the 30-year main contract down 0.47%, the 10-year main contract down 0.05%, the 5-year main contract down 0.03% and the 2-year main contract down 0.02%. The across-the-board decline spanned the full curve, with the longest-dated contract recording the steepest drop.

TREE NEWS update: Microsoft is still working to restore access to Outlook, Teams and its Copilot AI tool after a service disruption that began Thursday in the US and spread globally on Friday, leaving users without email and chat services. Downdetector logged about 200,000 user problem reports tied to the outage, one of the company’s most severe service failures, which has lasted far longer than its usual disruptions of a few hours.

TREE NEWS update: China’s National Development and Reform Commission and National Energy Administration issued the “15th Five-Year Plan” implementation plan for new-type energy storage. The plan directs energy-storage battery makers to advance projects in an orderly way and guard against blind expansion, while encouraging firms to improve key raw-material supply security and product quality and to build self-reliant manufacturing across the full industrial chain.

TREE NEWS update: Nvidia’s board said Jensen Huang resigned as president, CEO and director effective immediately, with CFO Colette Kress named interim CEO and Q3 results still set for Nov. 17. NVDA closed down 4.34% at $166.19 after falling as much as 14.4% intraday, while AMD rose 5.86% and Broadcom gained 5.54%. MSCI confirmed it will remove Strategy, holder of 850,364 BTC, from its global investable indexes effective Nov. 30, a move JPMorgan estimates could trigger $2.8 billion in passive selling.

TREE NEWS update: Euronext said its email communications service was suspended due to a Microsoft systems failure. The pan-European exchange operator disclosed the disruption without specifying how long the outage would last or whether trading was affected. Microsoft has not commented on the cause of the failure.

TREE NEWS update: China and the United States held the fourth Crisis Communication and Prevention Working Group meeting in Washington from Nov. 2 to 3, China’s Defense Ministry spokesperson Senior Colonel Chen Xi said on Nov. 13. The two sides exchanged views on implementing the consensus reached by the two heads of state, strengthening communication and avoiding miscalculation. China’s defense and US defense departments maintain communication and coordination on exchanges and dialogue at all levels, Chen said.