Policy
-The Ministry of Finance and the State Taxation Administration have issued an announcement on the tax policy for gold. The announcement states that when member entities or clients trade standard gold through the Shanghai Gold Exchange or the Shanghai Futures Exchange, the selling member entities or clients shall be exempted from value-added tax when selling the standard gold.
Industry
-China’s fourth-generation nuclear fission reactor, the thorium-based molten salt reactor (TMSR), has been officially completed and achieved thorium-uranium conversion. It has become the world’s only operational molten salt reactor and is also China’s only nuclear reactor currently built in the Gobi Desert.
Data
-The Ministry of Industry and Information Technology data shows that in the first three quarters, China’s large-scale internet enterprises achieved internet business revenue of 1.442tn yuan, up 2.8% y/y.
-The global market share of Chinese automobiles has been on the rise. In September, China’s global market share rebounded to a sound level of 38%, an increase of 2 percentage points compared with last year. In 2024, China accounted for 34.2% of the global automobile market; from January to September 2025, China’s share of the global automobile market reached 34.5%.
-Data released by the World Gold Council (WGC) shows that the investment demand for gold surged to 537 tons in the third quarter, representing a year-on-year growth of 47%.
Oct 31 Block Trade Info
*Discount
-Jifeng Auto Parts (603997 CH) saw 4 block trades worth 281.29mn at 12.27yuan per share, 11.54pct discount from last closing.
-Goneo (603195 CH) saw 15 block trades worth 204.08mn at 41.09yuan per share, 5.91pct discount from last closing.
-Fen Wine (600809 CH) saw 8 block trades worth 294.17mn at 180.02yuan per share, 5.50pct discount from last closing.
-Kuang-Chi Tech (002625 CH) saw 3 block trades worth 315.40mn at 43.51/44.78yuan per share, 1.71/4.50pct discount from last closing.
