Flash News

TREE NEWS update: A Chinese court on October 8, 2026 sentenced Xu Chuanzhi, a former deputy ministerial-level inspector of the Central Inspection Team, to 12 years in prison and a fine of 2.5 million yuan in a first-instance ruling, CCTV reported. The Ningbo Intermediate People’s Court in Zhejiang convicted him of bribery and bribery by influence, handing down 10 years and six months plus a 1 million yuan fine on the first charge and five years plus a 1.5 million yuan fine on the second. Seized criminal proceeds and interest will be turned over to the state treasury, with shortfalls to be recovered.

TREE NEWS update: Guangdong Provincial Party Secretary Huang Kunming called on Shenzhen to accelerate the development of its artificial intelligence and robotics industries during a research visit to the city’s port hubs and platform enterprises. Huang said the fourth quarter is a critical period for meeting annual targets and urged Shenzhen to step up as a major economic city, boost investment and consumption, and consolidate the economy’s positive momentum.

TREE NEWS reports: Federal Reserve Governor Christopher Waller said growth prospects and artificial intelligence are behind the rise in bond yields. He also said inflation expectations remain anchored. Waller’s remarks address the recent climb in Treasury yields without attributing it to inflation worries.

TREE NEWS reports: China’s software business revenue exceeded 10 trillion yuan in the first eight months of the year, up 8.8% year on year, with total industry profit rising 1.3%, official data show. Software exports reached $45.99 billion, up 12.5%. Software product revenue grew 6%, accounting for 21.5% of industry revenue, while IT services took 68.7%; within that, cloud computing and big data services revenue rose 11.1%, or 17.3% of IT services income.

TREE NEWS update: Dongyue Silicon Materials announced it expects attributable net profit of RMB 547 million to RMB 567 million for the first three quarters of 2026, compared with RMB 2.8567 million a year earlier. The company attributed the gain to improved market conditions and industry supply-demand, higher product prices and lower industrial silicon procurement costs. Non-recurring gains are expected to contribute about RMB 42 million, mainly from disposal of non-current assets.

TREE NEWS update: Federal Reserve Governor Christopher Waller said the 2027 dot plot could reflect an interest rate hike early in the year, followed by rate cuts later on. The remark signals a possible near-term tightening path within the Fed’s longer-run projections. No further details were provided.

TREE NEWS reports: Global foundry 2.0 market revenue rose 25% year over year and 11% quarter over quarter to $96.6 billion in the second quarter of 2026, Counterpoint Research said in its foundry supply tracker. Growth accelerated from the prior quarter on sustained AI GPU demand and expanding AI infrastructure, including custom ASICs, server CPUs, networking chips and power management ICs.

TREE NEWS update: China Coast Guard vessel Changshan departed Qingdao to conduct a joint 2026 enforcement patrol with South Korea’s Mugunghwa 42 fishery guidance ship in the provisional measures waters under the China-South Korea Fisheries Agreement. During the patrol, the two sides will exercise enforcement supervision over fishing vessels from both countries in accordance with the agreement to regulate order at sea.

TREE NEWS update: Beijing’s municipal radio and television bureau issued measures to support high-quality development of the ultra-high-definition audiovisual industry, including credit financing, operating-cost subsidies and listing cultivation for eligible firms. The policy encourages listings on the domestic main board, STAR Market, ChiNext and Beijing Stock Exchange, and supports establishing a Beijing UHD industry investment fund.

TREE NEWS reports: Federal Reserve Governor Christopher Waller said further interest rate hikes are needed, but the pace is flexible and increases need not come at consecutive meetings. He said inflation remains too high, citing AI buildout and persistent energy shocks as factors keeping price pressure durable. Waller said there is evidence the economy is strengthening in the second half of 2026, and described the September labor market as solid and stable despite declining payroll gains.

TREE NEWS update: South Korea’s foreign ministry said on October 8 that the country has decided to recall its ambassador to Ukraine. The ministry gave no further details in the statement. No reason for the decision was provided.

TREE NEWS update: Iran and Oman have agreed on the geographic coordinates of a safe corridor in the Strait of Hormuz and on procedures for registering it with the relevant international bodies, Iranian Foreign Ministry spokesman Baghaei said on Feb. 7. The announcement was carried by Iran’s Tasnim news agency on Feb. 8. No further details on the corridor’s route or the registration timeline were given.

TREE NEWS update: Kim Yo Jong, a department director of the Workers’ Party of Korea Central Committee, said South Korea’s stated plan to provide medical equipment aid to the North constitutes a “grave provocation,” in a statement carried by KCNA on October 8. The remarks were reported by Xinhua. No further details of the aid plan or the North’s response were given.

TREE NEWS reports: DiDi said domestic ride orders rose 7% year-on-year during China’s National Day holiday, with out-of-town ride demand up 54% versus ordinary days. Orders from users travelling more than 2,000 km from their home city rose 25% year-on-year, while nearby-trip orders accounted for 38% of the total. Overseas, DiDi rides doubled from the summer break; Chinese users’ demand in Latin America via DiDi and 99 rose 90% year-on-year, and inbound users’ DiDi orders rose 62%.

TREE NEWS update: The Guangzhou Futures Exchange has opened public consultation on its lithium hydroxide futures and options contracts and related rules. The exchange published the draft contracts and rule amendments for market feedback, a procedural step before any listing. The consultation covers both the futures and options instruments tied to the battery-material chemical.

TREE NEWS reports: Hong Kong’s Hang Seng Tech Index closed down 2.89% on the day, its lowest close since September 2024, while the benchmark Hang Seng Index fell 1.43%. Technology shares declined broadly, with MINIMAX dropping more than 13%, Biren Technology more than 11% and YOFC more than 6%.

TREE NEWS reports: New York prosecutors are expected to bring additional charges against detained Venezuelan President Nicolás Maduro and his wife, Cilia Flores, over the alleged mistreatment of Americans held by the Venezuelan government. Flores’s legal team says her health is deteriorating: she has lost two teeth, dropped 25 pounds and her heart condition is worsening.

TREE NEWS update: The U.S. Navy aircraft carrier USS Abraham Lincoln is expected to arrive at its homeport of San Diego, California, around noon local time on the 8th, after more than 300 days at sea. The carrier’s return follows an extended deployment.

TREE NEWS update: US media reported on the 7th that Saudi Arabia is discussing with Syria the deployment of Syrian troops to Yemen to join operations against the Houthis. Syria’s transitional government information ministry responded the same day through state media that it firmly supports Saudi Arabia, but that Syria’s “priority” is rebuilding the country.

TREE NEWS update: China’s deputy permanent representative to the United Nations, Sun Lei, delivered a joint statement on behalf of the ‘Group of Friends for Global Governance’ on October 7 at the UN General Assembly’s Sixth Committee, under the agenda item on domestic and international rule of law. The statement called on all parties to uphold the authority of the UN Charter and to abide by international rule of law.