1. People's Bank of China (PBOC) Governor PAN Gongsheng pointed out that the fundamentals of China's economy and its vast market, huge potential and other favorable conditions have not changed. In particular, since the rollout of a package of financial policy measures, both domestically and internationally have given positive and constructive evaluations, which has effectively boosted social confidence. The PBOC will steadily advance the institutional opening-up of the financial services sector and financial markets, and expand connectivity between domestic and overseas financial markets.
2. The head of the China Securities Regulatory Commission's institutional affairs department, SHEN Bing, said that in recent months, he has worked with the Ministry of Commerce to clarify the operational guidelines for tax incentives for sovereign wealth funds investing through the QFII channel. He also said that he is drafting revised rules for short-term trading and programmed trading to eliminate the uncertainties foreign investors face in participating in the market through legal means.
3. According to data from the General Administration of Customs, the total value of China's goods trade imports and exports in the first 10 months was 36.02 trillion yuan, up 5.2% year-on-year. Of this, exports were 20.8 trillion yuan, up 6.7%; imports were 15.22 trillion yuan, up 3.2%; and the trade surplus was 558 billion yuan, up 17.6%.
4. The People’s Bank of China released data showing that at the end of October, the country's gold reserves stood at 72.8 million ounces (about 2,264.33 tons), which was unchanged from the previous month and marked the sixth consecutive month of pausing gold accumulation.
5. According to the research institute of Lianjia, in October, a total of 22,000 second-hand homes were sold in Shanghai, an increase of 63% from the previous month and 68% from the same period last year; the total transaction amount was 71.7 billion yuan, an increase of 57% from the previous month and 65% from the same period last year; the average transaction price per unit was 3.25 million yuan per unit, a 4% decrease from the previous month and a 2% decrease from the same period last year; and the average transaction price per square meter was 39,179 yuan, a 3% decrease from the previous month and a 4% decrease from the same period last year.
6. CUI Dongshu, secretary general of the China Passenger Car Association, said that in the fourth quarter, the domestic sales of new energy passenger cars are expected to reach 3.55 million units, up 39% year-on-year. The export of new energy passenger cars this year has been affected by the anti-subsidy tariffs imposed by the EU for the time being, with an estimated export volume of 330,000 units, up 12%. The worldwide auto sales have grown by 2% year-on-year in the first nine months, with China's auto market accounting for 33% of the global market share, which is at a low level.
7. The Ministry of Transport said that an implementation plan for "Artificial Intelligence + Transportation" is being formulated, with research and improvement being carried out on the construction of innovation platforms in the transportation sector, to promote scene-based research and development; a well-organized research mechanism is being established, with exploration into initiatives to enhance transportation through automatic driving; and high-quality standard supply is being strengthened through a series of standard enhancement initiatives.
8. According to Caixin News, the Canadian government has ordered the closure of ByteDance's Canadian subsidiary on the grounds of "national security." In response, a spokesperson for TikTok Canada said that closing the TikTok Canada office would destroy hundreds of high-paying local jobs and not serve the best interests of anyone. The company will challenge the order in court.
9. The Tech Board Daily reports that ByteDance's AI assistant Doubao has officially launched a video generation beta test, which means that after companies such as Kuaishou and SenseTime, ByteDance has officially entered the AI video generation field. The official website of Doubao claims that Doubao video generation supports one-click video creation from pictures and text.
10. The UK Health Security Agency said another case of infection has been found among the contacts of the family of the first person confirmed with the new monkeypox virus strain last week, bringing the total number of cases of the new strain in the UK to four and the first cluster of infections outside Africa.
