🌹【September 3 Morning News Highlights】
1. Foreign Ministry spokesman Guo Jiakun stated yesterday that in order to further facilitate exchanges between Chinese and foreign personnel, China has decided to expand the scope of visa-free countries. From September 15, 2025, to September 14, 2026, a visa-free policy will be trialed for Russian citizens holding ordinary passports.
2. The Ministry of Finance and the State Taxation Administration issued a notice on the tax policy for transferring and supplementing the social security fund with state-owned equity and cash income management. It mentioned that all interest and income of an interest nature obtained from loans during the investment process of the transferred state-owned equity and cash income would be exempt from VAT; the income obtained from the transfer of state-owned equity and cash income investments would be treated as tax-exempt income for corporate income tax.
3. The central bank announced the liquidity provision situation of various tools in August. Regarding central bank loans, the net injection of medium-term lending facilities was 300 billion yuan, and the net withdrawal of mortgage supplementary loans was 160.8 billion yuan; in terms of open market operations, the net injection of reverse repos was 300 billion yuan, with no transactions in government bonds in the open market.
4. In August 2025, 2.65 million new accounts were opened in A-shares, with significant growth compared to the same period last year and month. Compared to the 1 million new accounts opened in August 2024, the new accounts in August 2025 increased by 165% year-on-year, far exceeding last year's level.
5. From August 27 to 30, the State-owned Assets Supervision and Administration Commission of the State Council and the Chinese Academy of Sciences jointly held a senior training class for central enterprises in the biotechnology industry. Tan Zuojun, deputy director of the State-owned Assets Supervision and Administration Commission, emphasized accelerating the development of the central enterprises' biopharmaceutical industry, building a national team in the biopharmaceutical field, and promoting the high-quality development of China's biopharmaceutical industry.
6. Ping An's private equity fund Hengyi Holding has completed its filing. This fund was established on May 30, 2025, with an initial fund size of 30 billion yuan.
7. According to estimates from the China Passenger Car Association, the wholesale sales of new energy passenger cars nationwide in August reached 1.3 million units, a year-on-year increase of 24% and a month-on-month increase of 10%; the cumulative wholesale from January to August this year was 8.93 million units, a year-on-year increase of 34%.
8. On September 2, Hunan Provincial Party Secretary Shen Xiaoming conducted research on the development of the artificial intelligence industry in Changsha and presided over a symposium. Shen Xiaoming pointed out the need to support the cultivation of a batch of leading artificial intelligence enterprises, proactively layout future application scenarios, and enhance the core competitiveness of Hunan's artificial intelligence sector.
9. The Shanghai Municipal Economic and Informatization Commission issued a notice on implementing the national "Artificial Intelligence +" initiative and organizing the application work for the 2025 Shanghai "Artificial Intelligence +" action projects. It pointed out that support would be provided for the research and application of high-performance training, inference chips, and edge-side chips for artificial intelligence.
10. The US stock market fell for the second consecutive trading day, with large technology stocks retreating. By the close, the Dow Jones Index fell by 0.55%, the S&P 500 Index fell by 0.69%, and the Nasdaq Composite Index fell by 0.82%. The Philadelphia Semiconductor Index fell by 1.1%. The Cboe VIX Index rose above 17. The 10-year US Treasury yield rose to 4.26%.
