September 8 Morning News Highlights
1. The spokesperson of the Ministry of Foreign Affairs announced: At the invitation of Brazilian President Lula, President Xi Jinping will attend the BRICS Leaders Online Summit via video on September 8 in Beijing and deliver an important speech.
2. According to statistics from the State Administration of Foreign Exchange, as of the end of August 2025, China's foreign exchange reserves amounted to 332.22 billion USD, an increase of 29.9 billion USD compared to the end of July, with a growth rate of 0.91%. China's economy is running steadily and making progress, showing strong resilience and vitality, which provides support for maintaining the stability of foreign exchange reserves.
3. As of the end of August, China's gold reserves were 74.02 million ounces, compared to 73.96 million ounces at the end of July, marking the 10th consecutive month of increased gold holdings.
4. On September 6, the Party Committee of the China Securities Regulatory Commission held a meeting to convey the decision of the Central Commission for Discipline Inspection and the National Supervisory Commission to conduct disciplinary reviews and supervisory investigations into Yi Huiman for suspected serious violations of discipline and law. Relevant comrades from the disciplinary inspection and supervision team stationed at the CSRC attended the meeting. All participants expressed their firm support for the decisions of the Party Central Committee and the Central Commission for Discipline Inspection and the National Supervisory Commission. The Secretary of the Party Committee and Chairman of the CSRC, Wu Qing, presided over the meeting.
5. On September 5, the Ministry of Commerce announced its preliminary ruling on the anti-dumping investigation of imported related pork and pork products originating from the EU. The investigating authority preliminarily determined that the imported related pork and pork products from the EU are being dumped, causing substantial damage to the domestic industry, and there is a causal relationship between the dumping and the substantial damage.
6. The newly revised (Regulations on the Management of Sales Expenses for Publicly Raised Securities Investment Funds) has been released, which clarifies the details of the sales fee rates for public funds. Based on the average data from the past three years, the third phase of the fund sales expense reform is expected to reduce costs by approximately 30 billion yuan annually, with a reduction rate of about 34%.
7. On September 5, the Shenzhen Housing and Construction Bureau and the People's Bank of China Shenzhen Branch released a notice stating that from September 6, 2025: the purchasing policy for residential properties by residents will be optimized and adjusted by district; the purchasing policy for residential properties by enterprises and institutions will be optimized and adjusted by district; and personal housing credit policies will be optimized and adjusted. On the same day, the Shenzhen Housing and Construction Bureau's website published two draft revision proposals related to housing provident fund, adding measures such as the withdrawal of down payment for home purchases.
8. According to data, in the first half of 2025, 49 brokerages had a total interest income from margin trading of 43.2 billion yuan, with a year-on-year growth of over 10%. Among them, 47 achieved positive year-on-year growth, in stark contrast to the situation in the 2024 report where over 40 brokerages saw a decline in margin trading interest income. The trend of industry recovery is clear.
9. According to CCTV International News citing Japan's NHK, before the Liberal Democratic Party decides whether to hold a temporary presidential election on the 8th, Japanese Prime Minister Shigeru Ishiba decided to resign, citing unwillingness to see divisions within the party.
10. In August, the non-farm employment number in the United States increased by 22,000, far below the market estimate of 75,000. Barclays raised its bets on the Federal Reserve cutting interest rates within the year, now expecting three rate cuts before the end of the year. JPMorgan Asset Management now also expects the Federal Reserve to cut rates three times in 2025.
