1. The State Council issued the "Several Opinions of the General Office of the State Council on Stimulating the Vitality of the Ice and Snow Economy through High quality Development of Ice and Snow Sports", calling for improving the ice and snow economy industry chain, and achieving a total scale of 1.2 trillion yuan by 2027. It encourages to deepen the implementation of the "South Expansion, West Expansion, and East Expansion" strategy for ice and snow sports, and promote the popularization and development of ice and snow sports throughout the country. It will support the listing and refinancing of ice and snow enterprises, issuance of bonds, and asset securitization.
2. According to statistics from the State Administration for Market Regulation, as of the end of September, the total number of private economic entities in China reached 180.8648 million, accounting for 96.37% of the total number of operating entities, a year-on-year increase of 3.93%, and a growth of more than four times in more than 10 years.
3. China UnionPay said that UnionPay cards issued overseas have fully supported the connection with Alipay, and with the support of ICBC, WeChat payment has also supported this service. From November 6, foreigners in China can download Alipay App or WeChat App, connect UnionPay cards issued locally and abroad, and enjoy the convenient experience of code scanning payment like domestic users.
4. According to Guangzhou Daily, several banks in Guangzhou will raise their new mortgage interest rates to 3% on November 7th. There is a relevant notice that the interest rate of the first home loan in Guangzhou shall not be lower than the interest rate of the housing provident fund loan. Currently, the interest rate of the first housing provident fund loan with a term of more than 5 years is 2.85%. Therefore, the bank is also raising the interest rate of the housing loan after the interest rate cut.
5. On November 6th, the central urban area of Chengdu, Sichuan Province, had three cases of land transfer involving residential properties. Two out of three plots were sold at the bottom price, while the high-tech zone plot was sold at a floor price of 26300 yuan/square meter, with a premium rate of 46%, setting a new record for the floor price in the area.
6. Vice Minister of Industry and Information Technology XIONG Jijun stated that they encourages high-quality new energy vehicle enterprises to merge and restructure, expand and strengthen, promote the concentration of the industry, and work with relevant departments to combat unfair competition. We will formulate guidance on battery swapping modes for new energy vehicles, study policy measures to accelerate the electrification of commercial vehicles, and promote the comprehensive market-oriented expansion of new energy vehicles.
7. The China Online Audiovisual Association estimates that the market size of micro dramas in China will reach 50.44 billion yuan by 2024, a year-on-year increase of 34.90%. The total box office revenue of mainland films for the whole year is expected to be 47 billion yuan. The market size of micro dramas is expected to surpass the box office of mainland films for the first time. It is expected that by 2027, the size of China's micro drama market will exceed 100 billion yuan.
8. The Semiconductor Industry Association of America reported that global semiconductor sales reached $166 billion in the third quarter, a year-on-year increase of 23.2% and a month on month increase of 10.7%, with the month on month growth rate reaching the highest level since 2016. Among them, the global semiconductor sales in September were 55.3 billion US dollars, an increase of 4.1% compared to the previous month.
9. The TrendForce report shows that the DRAM industry experienced inventory depletion and price recovery in the first three quarters, and the price momentum weakened in the fourth quarter. Due to some suppliers' plans to increase production capacity after making profits this year, it is estimated that the overall DRAM industry will grow by 25% annually in 2025, with a growth rate greater than in 2024.
10. HE Xiaopeng, the chairman of Xiaopeng Motors announced that Xiaopeng L4 level autonomous driving can eliminate the steering wheel, making it optional instead of mandatory. Users can hide or use it as needed. In addition, Xiaopeng Huitian Flying Car will make its global debut in November and start pre-sales in December.
