GMT EIGHT - Economy&politics - China

China Securities Regulatory Commission issues Regulatory Guidelines on the Issuance of Asset-Backed Securities Token Offering Overseas Using Domestic Assets.

Guidance refers to domestic assets issuing asset-backed securities tokens overseas. It means utilizing cash flows generated by domestic assets or related asset rights for payment support, using encryption technology and distributed ledger or similar technology, to issue tokenized equity certificates overseas.

The People's Bank of China and seven other government departments: Virtual currency does not have the same legal status as statutory currency, and the ongoing crackdown on virtual currency "mining" activities.

The People's Bank of China and seven other departments issued a notice on further preventing and dealing with risks related to virtual currencies.

CSRC reports on the on-site inspection of first-time issuers in 2025.

CSRC reports on the on-site inspection of initial public offering companies in 2025.

China Securities Regulatory Commission, People's Bank of China and other departments issue risk warnings: Beware of illegal "proxy rights protection" short video and live streaming traps.

The China Banking Regulatory Commission, the Cyberspace Administration of China, the Ministry of Public Security, the People's Bank of China, and the China Securities Regulatory Commission jointly issued a risk warning, reminding the general public to beware of illegal "agent rights protection" infringement and to protect their rights legally and rationally.

The China Banking and Insurance Regulatory Commission has issued the "Regulations on the Management of Bank and Insurance Institution Licenses" to further enhance the responsibility of institutions in managing their operations.

On February 6, the China Banking and Insurance Regulatory Commission issued the "Banking and Insurance Institutions License Management Measures," which will take effect on June 1, 2026. The relevant leaders of the commission answered questions from journalists on the related issues.

Prefabricated food must not use preservatives, and the shelf life should not exceed one year. The national standard for prefabricated food is now seeking opinions.

For pre-made vegetable products, a systematic integration of over 10 general standards such as "Maximum Levels for Contaminants in Food", over 10 product standards such as "Animal Aquatic Products", over 10 process standards such as "General Hygiene Regulations for Food Production", as well as over 10 food-related product standards and inspection method standards for food contact materials was conducted. Safety control indicators for pre-made vegetable products with different raw materials and processing methods were proposed to facilitate implementation by pre-made vegetable production companies.

The first meeting of the Sino-British Financial Working Group was held in Beijing.

Recently, the first meeting of the Sino-British Financial Working Group was held in Beijing.

China: The volume of warehousing business in China continues to grow, with goods turnover remaining active.

In January 2026, China's storage index was 51.9%, down 0.5 percentage points from the previous month, but still in the expansion range.

Ministry of Commerce: China's total foreign trade in services will reach 808.231 billion yuan in 2025, an increase of 7.4% year-on-year.

On February 5th, the person in charge of the Ministry of Commerce's Service Trade Bureau introduced the development of service trade in 2025.

National Development and Reform Commission: Ensure the supply of raw materials for fertilizer production and do a good job in ensuring stable supply and prices of fertilizers.

On February 5, the National Development and Reform Commission issued a notice on ensuring the supply and stable prices of fertilizers for the spring plowing in 2026.

Ministry of Finance and two other departments: Implement a "zero tariff" policy on imported goods consumed by residents in Hainan Free Trade Port. The tax-free limit is 10,000 RMB per person per year.

On February 5, the Ministry of Finance, General Administration of Customs, and State Taxation Administration issued a notice regarding the "zero tariff" policy on imported goods for consumption by residents on the island of Hainan Free Trade Port.

The Cyberspace Administration of China, in conjunction with the National Medical Insurance Administration, will thoroughly crack down on false and misleading information related to pharmaceuticals and medical consumables in online centralized procurement platforms.

Recently, the Cyberspace Administration of China, together with the National Medical Insurance Administration, has carried out in-depth rectification of false and misleading information related to centralized procurement of medicines online, and has legally dealt with a number of accounts that have spread misinformation, created anxiety, and misled the public.

The number of internet users in our country has reached 1.125 billion, and the internet penetration rate has exceeded 80%.

The report shows that by December 2025, the number of Internet users in China will reach 1.125 billion, with an Internet penetration rate exceeding 80%, and the achievements of digital development benefiting a wider range of people.

IOT in China: In January 2026, China's logistics industry prosperity index was 51.2%

The China Federation of Logistics and Purchasing released the Logistics Industry Prosperity Index for January 2026, which was 51.2%, down 1.2 percentage points from the previous month.

Ministry of Commerce responds to EU investigation of Chinese wind power companies: Urges European side to immediately correct erroneous practices and use FSR unilateral investigation tool with caution.

The Chinese side has always advocated resolving differences through dialogue and consultation, and opposes politicizing and securitizing economic and trade issues. We urge the European side to correct its erroneous practices, cautiously use unilateral trade investigation tools, and create a fair, just, and predictable market environment for China-EU cooperation. China will closely monitor developments and take necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.

National Bureau of Statistics: Prices of 25 products rose, 21 products fell, and 4 products remained stable in late January 2026.

On February 4th, the National Bureau of Statistics released the price movements of important production materials in the circulation sector in late January 2026.

The Shanghai Gold Exchange: Adjusting the trading margin levels and the daily price limits for some gold and silver contracts.

On February 3rd, the Shanghai Gold Exchange issued a notice to adjust the trading margin levels and the daily price fluctuation limits for some gold contracts and silver deferred contracts.

National Development and Reform Commission: starting from 24:00 on February 3, the domestic prices of gasoline and diesel will each increase by 205 yuan and 195 yuan per ton.

Recent international market oil price fluctuations have increased. According to the comparison of the average prices of the first 10 working days of February 3rd and the average prices of the first 10 working days before the last price adjustment, under the current refined oil price mechanism, starting from 24:00 on February 3rd, the domestic prices of gasoline and diesel (standard products, same below) will each increase by 205 yuan and 195 yuan per ton.

The Ministry of Industry and Information Technology and seven other departments jointly issued a security guidance to regulate the export behavior of three types of automotive data.

On February 3, the Ministry of Industry and Information Technology and other eight departments issued a notice on the "Guidelines for Car Data Export Security (2026 version)."

In 2025, the production of major non-ferrous metal products in our country reached a new high.

Today (February 3), the China Nonferrous Metals Industry Association held a press conference to introduce the operational situation of the nonferrous metals industry in 2025.

Ministry of Transport: It is expected that the total number of inter-regional passenger trips on the first day of the Spring Festival travel rush will exceed 1.8 billion.

According to data from the Special Team for Comprehensive Transportation Spring Festival Transportation Work, on February 2, 2026 (the first day of the Spring Festival, the fifteenth day of the twelfth lunar month), the estimated total national cross-regional passenger flow is 187.91 million people, an increase of 13% compared to the same period in 2025 (the first day of the Spring Festival).

The Ministry of Finance and the State Administration of Taxation released related matters on value-added tax input tax deduction.

On February 2nd, the Ministry of Finance and the State Administration of Taxation issued a notice regarding the deduction of input value-added tax and other related matters, which will be implemented starting from January 1st, 2026.

The Ministry of Finance and the State Administration of Taxation have issued the "Interim Measures for Deducting Input Tax on Long-term Assets".

Taxpayers who acquire the following long-term assets for mixed use should first fully deduct the input tax at the time of purchase. Subsequently, during the period of mixed use, the input tax that cannot be deducted from the output tax for the five categories of items that are not allowed to be deducted must be calculated based on the adjusted period and adjusted annually.

The Ministry of Finance and the State Administration of Taxation announced the "Measures for the Administration of Prepayment of Value-Added Tax".

On February 2nd, the Ministry of Finance and the State Administration of Taxation released the "Measures for the Administration of Value-added Tax Prepayment Taxes", which will take effect from January 1, 2026.

Ministry of Commerce and 9 other units: Encourage financial institutions to cooperate with key merchants to launch consumer red envelopes, consumer discounts and other preferential measures.

On February 2nd, the Ministry of Commerce and 9 other units issued a notice regarding the release of the "2026 'Happy Shopping in the New Year' Spring Festival Special Event Plan".

National Bureau of Statistics: January PMI shows differentiated characteristics, high-tech manufacturing industry maintains relatively high business confidence.

The data released by the National Bureau of Statistics shows that in January, the manufacturing purchasing managers' index (PMI), the non-manufacturing business activity index, and the comprehensive PMI output index were 49.3%, 49.4%, and 49.8% respectively.

CSRC: Strategic investors must not use agreements to hold shares on behalf of others or use other methods to avoid shareholding ratio and holding period requirements.

China Securities Regulatory Commission publicly solicits opinions on the Decision on Amending the 18th Securities and Futures Legal Application Opinions (Consultation Draft).

Ministry of Finance: Securities transaction stamp duty to increase by 57.8% in 2025.

On January 30th, the Ministry of Finance released the financial revenue and expenditure situation for the year 2025.

State Administration of Foreign Exchange: China's goods trade exports totaled 2.6647 trillion yuan in December 2025, imports totaled 1.8114 trillion yuan, resulting in a trade surplus of 853.3 billion yuan.

In December 2025, China's international balance of payments in goods and services trade reached a total of 52.808 trillion yuan.

Ministry of Finance: From January to December 2025, the total operating income of state-owned enterprises increased by 0.5% year-on-year, while the total profit decreased by 6.3% year-on-year.

On January 30, the Ministry of Finance released the economic performance of national and state-controlled enterprises in China from January to December 2025.

State Administration of Foreign Exchange: China's cumulative turnover in the foreign exchange market reached 304.57 trillion yuan by 2025.

The State Administration of Foreign Exchange released the data on the trading overview of China's foreign exchange market in December 2025.

State Council Tariff Commission: Starting from February 2nd, a provisional import tariff rate of 5% will be implemented for whiskey.

On January 30, the State Council Customs Tariff Commission issued a public announcement regarding the adjustment of import tariffs on whiskey.

Ministry of Industry and Information Technology: By 2025, China's scale above Internet and related service enterprises will achieve an Internet business revenue of 2.473 trillion yuan, an increase of 1.5% year-on-year.

On January 30th, the Ministry of Industry and Information Technology released the operating conditions of the internet and related service industry in 2025.

Two departments: will raise the proportion of fixed costs recovered by capacity electricity price for coal-fired units to no less than 50%.

On January 30th, the National Development and Reform Commission, and the National Energy Administration issued a notice on improving the capacity electricity price mechanism on the generation side.

Ministry of Industry and Information Technology: China's total software industry profit in 2025 was 1.8848 trillion yuan, a year-on-year increase of 7.3%.

The Ministry of Industry and Information Technology releases the operating situation of the software industry in 2025.

Ministry of Commerce: China's non-financial outbound direct investment in 2025 was 145.66 billion US dollars, an increase of 1.3% over the previous year.

By 2025, China's foreign investment cooperation will achieve stable development.

Ministry of Industry and Information Technology: The value added of the electronic information manufacturing industry above designated size is expected to increase by 10.6% year-on-year by 2025.

The Ministry of Industry and Information Technology releases the operational status of the electronic information manufacturing industry in 2025.

National Bureau of Statistics interpretation: the development of cultural enterprises above a certain scale in 2025 is stable and moving in a positive direction.

Cultural enterprises' operational efficiency has steadily improved, with total profits steadily increasing.

National Bureau of Statistics: The operating income of cultural and related industries enterprises above designated size nationwide is expected to grow by 7.4% in 2025.

National Bureau of Statistics data shows that, based on a survey of 82,000 cultural and related industry enterprises (hereinafter referred to as "cultural enterprises") nationwide, in 2025, these cultural enterprises achieved operating income of 15.2135 trillion yuan, calculated on a comparable basis, representing a 7.4% increase over the previous year.

Our country will layout more future industries related to "space+"

Among them, it includes implementing future industry development cultivation projects, planning to promote the development of new fields such as space smart infrastructure, space resource development, space traffic management, and space tourism.

State Council Office: Encourage local governments to implement policies related to digesting existing real estate inventory, and support the construction of land and service facilities for tourism projects.

On January 29th, the General Office of the State Council issued a notice on the promulgation of the "Work Plan for Accelerating the Cultivation of New Growth Points in Service Consumption".

National Development and Reform Commission: It is expected that during the Spring Festival travel period, the total number of inter-regional population movements in the whole society will reach 9.5 billion people, setting a new historical record.

On January 29th, the State Council Information Office held a press conference. Li Chunlin, deputy director of the National Development and Reform Commission, and the officials of the Ministry of Transport and other relevant departments introduced the situation and work arrangement for the Spring Festival travel rush in 2026, and answered questions from reporters.

The Ministry of Industry and Information Technology (MIIT) held a symposium for entrepreneurs in the photovoltaic industry, requiring a resolute elimination of industry's "internal competition" spiral.

The photovoltaic industry association should actively fulfill its functions, carry out industry self-discipline in accordance with the law and regulations, innovate ways and methods, and resolutely eliminate the "insider competition" in the industry.

Ministry of Industry and Information Technology: By 2025, China's telecommunications service revenue will reach a cumulative total of 1.75 trillion yuan, a growth of 0.7% compared to the previous year.

In 2025, China's telecommunications industry achieved steady growth, the industry structure continued to optimize, the scale of users increased in both quantity and quality, and the construction of new information infrastructure such as 5G and gigabit accelerated deployment, promoting high-quality development in depth.

National Energy Administration: By the end of 2025, the accumulated installed power generation capacity in the country will reach 3.89 billion kilowatts, a year-on-year increase of 16.1%.

On January 28th, the National Energy Administration released the national electricity statistics for 2025.

Three departments: Establish and improve the list of funeral service charges and the system of publicizing charges. No charges shall be collected beyond the list.

On January 27, the National Development and Reform Commission, Ministry of Civil Affairs, and Ministry of Finance issued a notice on further improving the funeral service fees policy.

Central Bank: By the end of the fourth quarter of 2025, the balance of real estate loans will be 51.95 trillion yuan, a year-on-year decrease of 1.6%.

On January 27th, the Central Bank released the statistical report on the loan distribution of financial institutions in the fourth quarter of 2025.

Ministry of Commerce spokesperson answers questions from journalists on Sino-British economic and trade cooperation.

The spokesperson of the Ministry of Commerce answers questions from reporters regarding the situation of Sino-British economic and trade cooperation.

Interpretation by the National Bureau of Statistics: The profits of large-scale industrial enterprises are expected to increase by 2025, with new driving forces providing significant support and driving force.

Industrial enterprise profits increased throughout the year, reversing a three-year downward trend. The growth was supported by new forces such as equipment manufacturing and high-tech manufacturing, with the profit structure of traditional industries continuing to improve. The quality and efficiency of industrial economic development has been constantly increasing.

National Bureau of Statistics: In 2025, profits of industrial enterprises above designated size in the country increased by 0.6%

In 2025, the total profits of industrial enterprises above designated size in the country reached 7398.2 billion yuan, an increase of 0.6% over the previous year (calculated on a comparable basis).

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