🌹October 17 News Highlights
1. Foreign Ministry spokesperson Lin Jian hosted a regular press conference yesterday. A reporter asked whether the U.S. intends to extend the suspension period of tariffs on China in exchange for China delaying the implementation of rare earth export controls. Lin Jian stated that China has repeatedly clarified its position on rare earth export controls and Sino-U.S. economic and trade issues.
2. The Ministry of Commerce held a regular press conference yesterday, where relevant officials introduced recent key work. A reporter asked whether China and the U.S. would hold a new round of economic and trade talks soon. Spokesperson He Yongqian stated that China has always maintained an open attitude towards equal consultations based on mutual respect. Additionally, He Yongqian responded to the recent rare earth export control measures issued by China, stating that the U.S. interpretation seriously distorts and exaggerates China's measures, deliberately provoking unnecessary misunderstandings and panic.
3. At yesterday's regular press conference of the Ministry of Foreign Affairs, a reporter asked about the UK listing several Chinese companies on its entity list. Spokesperson Lin Jian responded that China has consistently opposed unilateral sanctions that lack international legal basis and are not authorized by the United Nations Security Council, expressing strong dissatisfaction with the UK's actions and has lodged solemn representations to the UK.
4. On October 16, Minister of Commerce Wang Wentao met with Apple Inc. CEO Tim Cook. The two sides exchanged views on China-U.S. economic and trade relations and the development of Apple's business in China. Wang Wentao expressed welcome for Apple to continue to deepen cooperation with China and increase investment in China. Cook stated that Apple will continue to firmly root itself in China, deeply engage in China, and actively participate in China's high-quality development.
5. Local time on October 16, Russian President Putin and U.S. President Trump had a phone conversation again after nearly two months. Russian presidential aide Ushakov stated that this call was initiated by the Russian side, with a duration of 2.5 hours. Trump mentioned that he might meet with Putin in Budapest, Hungary, within the next two weeks.
6. The State Administration for Market Regulation has drafted the 'Supervision and Management Regulations for Third-Party Platforms Providing Online Food Delivery Services and Network Food Service Providers to Implement Food Safety Main Responsibility (Draft for Comments)', which clarifies that network food service providers may not use the same business qualifications to open multiple online stores on the same platform. At the same time, exclusive identification will be added for 'no dine-in' businesses.
7. The General Office of the Ministry of Industry and Information Technology organized a special action on 'millisecond computing' in urban areas, focusing on the development of computing power networks, to build a high-capacity, low-latency, and widely covered urban network that provides millisecond-level computing resources. It was mentioned that by 2027, the coverage rate of urban computing power within a 1-millisecond latency circle should not be less than 70%, creating a high-quality millisecond-level computing foundation.
8. Rumors surfaced yesterday indicating that a polysilicon storage platform has been established, with the platform company's business registration completed (named 'China Silicon Capacity Integration Co., Ltd.'), and a joint account has also been opened. In response to this situation, a reporter learned from authoritative industry sources that the rumor is not true.
9. TSMC released its third-quarter performance and held a press conference to provide information on performance guidance, artificial intelligence, capital expenditure, processes/capacity, and other aspects. Regarding artificial intelligence, TSMC stated that AI demand remains strong and is even stronger than expected three months ago.
10. The three major U.S. stock indexes collectively closed lower, with the Dow Jones down 0.65%, the Nasdaq down 0.47%, and the S&P 500 down 0.63%; the Nasdaq Golden Dragon China Index closed down 0.91%, with most popular Chinese concept stocks declining. Apple is preparing to launch a Mac computer equipped with a touch screen, and the new MacBook Pro will feature a touch display, a thinner and lighter body, and M6 series chips.
