Flash News

TREE NEWS update: China’s Ministry of Industry and Information Technology said on Oct. 20 it will study expanding the pilot program for opening up value-added telecommunications services, at a State Council Information Office briefing on industrial and IT development in the first three quarters of 2026. The ministry also pledged to accelerate expansion and upgrading of computing facilities and to plan major strategic communications infrastructure projects.

TREE NEWS update: China’s Ministry of Industry and Information Technology said the share of automotive industry payables settled via electronic vouchers fell markedly in the first three quarters of 2026, chief engineer Wang Weiming told a State Council Information Office briefing on October 20. The ministry cited market-based and legal measures to curb irrational competition in key sectors, and said prices for mainstream domestic photovoltaic modules have stabilized.

TREE NEWS update: China’s Ministry of Industry and Information Technology will accelerate the establishment of a second phase of the national small and medium-sized enterprise development fund, chief engineer Wang Weiming said at a State Council Information Office briefing on October 20. The ministry will also build a nationwide SME service network and explore specialized centers to channel more patient capital into seed- and early-stage companies, as smaller firms face weak orders, high costs and hiring difficulties.

TREE NEWS update: The U.S. government has instructed federal agencies to stop using DeepSeek and other Chinese AI products over concerns that sensitive data could be transferred, China’s Foreign Ministry said on Oct. 20. Spokeswoman Mao Ning said Beijing opposes the broadening of national security concepts and the politicization of technology and trade issues, and will firmly protect the lawful rights of Chinese companies.

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 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 update: Seven Chinese government departments jointly issued the 15th Five-Year Plan for the advertising industry, targeting average annual growth of about 10% through 2030. The plan calls for higher-quality market entities, increased R&D and creative investment, and significantly improved digital and intelligent capabilities. It also aims to strengthen advertising’s role in industrial upgrading and consumption, advance “brand globalization,” and improve advertising laws and regulatory enforcement.

TREE NEWS update: The Zhejiang Provincial People’s Government issued the Beautiful Zhejiang Construction (Ecological Environmental Protection) 15th Five-Year Plan, placing nuclear and radiation safety at the highest priority. The plan calls for improving the regulatory system and coordination mechanism, building a provincial-municipal-county radiation monitoring network, and implementing three major projects: a nuclear and radiation safety risk monitoring and early-warning network, scientific research and technological innovation capacity building, and national defense mobilization capacity building for monitoring.

TREE NEWS reports: The People’s Bank of China will study making overnight operations its main policy tool, a move experts see as a further reform of the monetary policy framework. Wang Jian, chief banking analyst at Guosen Securities, said the policy rate could shift from 7-day to overnight as overnight operations become routine, but cautioned this should not be equated with an interest rate cut.

TREE NEWS update: China kept its five-year loan prime rate at 3.5% and the one-year rate at 3% for a 17th consecutive month in the October fixing. The People’s Bank of China said it will conduct overnight reverse repo operations from Oct 21 to Nov 2, capped at 100 billion yuan per day, and will add foreign RMB business clearing banks to its repo tool for overseas central banks. OpenAI reportedly plans to accelerate fundraising ahead of Anthropic’s listing.

TREE NEWS update: Hong Kong Chief Executive John Lee said the 2026 APEC Finance Ministers’ Meeting convenes in the city on Monday afternoon, the first time the territory has hosted the event. Speaking at the 2026 Greater Bay Area Summit, Lee said Hong Kong will use the platform to showcase its economic, financial and social development to APEC finance officials and international organizations, and to present its role as a Greater Bay Area hub linking national and global opportunities.

TREE NEWS update: The US has barred DeepSeek from civilian federal agency IT systems, extending restrictions already in place at defense and security agencies. Officials cited concerns that the Chinese AI model could expose federal information to China. The ban applies to civilian agencies’ information technology systems.

TREE NEWS update: The Blockchain Association filed comments on the U.S. Treasury’s proposed rule implementing the GENIUS Act, which governs who may issue and sell payment stablecoins. The group said the rollout needs clearer rules for DeFi and foreign stablecoin issuers. The filing responds to Treasury’s proposed rulemaking under the stablecoin law.

TREE NEWS update: China’s National Development and Reform Commission is drafting a plan to address overheated investment in parts of the hydrogen sector, Ren Zhongbao, deputy director of the NDRC’s innovation and high-tech development department, said at the commission’s October press conference. The plan will weigh national strategic needs, technological maturity and resource support conditions to rationally allocate major projects and guide local governments to find their own positions in core technology research, renewable hydrogen demonstration and application scenarios.

TREE NEWS update: Australia plans to take legal action against Facebook and TikTok for allegedly breaching a government ban. The two platforms face court proceedings over non-compliance with the restriction, though the material does not specify which ban or what penalties apply. No filing date or response from either company was given.

TREE NEWS update: China’s Ministry of Civil Affairs, Ministry of Natural Resources, Ministry of Housing and Urban-Rural Development and other departments issued a joint opinion on improving the routine joint inspection mechanism for elderly care institutions. The document sets out coordinated multi-department inspections of care facilities. No further details or effective date were provided.

TREE NEWS update: China’s National Development and Reform Commission (NDRC) said regions must develop “new quality productive forces” based on local conditions and avoid homogeneous competition, Ren Zhongbao, deputy director of the NDRC’s innovation and high-tech development department, said at the commission’s October press conference. Local governments must fully justify whether they have the necessary foundations before planning key industries and major projects, and must resolutely avoid rushing into projects and blanket expansion, he said. The NDRC will align national and provincial special plans for future industries and emerging pillar industries.

TREE NEWS update: China’s National Development and Reform Commission is drafting an implementation plan for its strategy to expand domestic demand and will accelerate its release, Zuo Gang, deputy director of the NDRC’s comprehensive economy department, said at a press conference on the 20th. The NDRC will work with relevant departments to expand domestic demand with greater intensity and more concrete measures, he said.

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: Ramp has applied to the Office of the Comptroller of the Currency for a trust bank charter to provide digital asset custody. The proposed bank would not take deposits or make commercial loans, and Ramp said it would build products alongside its banking partners. The filing marks the latest push by a crypto firm to secure a national trust charter.