China

China bans foreign AI chips in state-funded data centres to boost domestic industry

• China has banned foreign AI chips in state-funded data centres, Reuters reports, dealing a blow to U.S. firms like Nvidia and boosting domestic makers such as Huawei.

China will suspend 24% US tariffs for a year from November 10, to maintain 10% US tariffs

China Premier Li urges fairer global trade rules, warns protectionism harms world economy

• Premier Li’s remarks reinforce Beijing’s positioning as a defender of multilateral trade at a time of rising global tariffs and fragmentation. His pledge to expand imports and reform trade governance may signal China’s intent to stabilise relations with key partners, though frictions with the U.S. remain a key overhang.

China Rating Dog Services PMI 52.6 (October) (vs. expected 52.6, prior 52.9)

• Rating Dog / S&P Global Services and Composite PMIs from China for October 2025

Trump signs order to formally cut China fentanyl tariff to 10% under new trade deal

• President Trump cut the tariff on fentanyl-related imports from China to 10%, citing progress under the new US-China trade deal. The move follows Xi Jinping’s pledge to curb chemical exports used to produce fentanyl, though enforcement and durability of the pact remain uncertain.

China starts trial production at world’s first flying car factory in Guangzhou

• China has begun trial production at the world’s first flying car factory in Guangzhou. The 120,000-square-metre facility will produce detachable electric aircraft modules with capacity for 10,000 units a year and assemble one every 30 minutes once fully operational.

China offers big power subsidies to boost local AI chips at ByteDance, Alibaba, Tencent

• China is subsidising up to half the power costs for data centres run by ByteDance, Alibaba and Tencent that use domestic AI chips from Huawei and Cambricon. The move aims to offset higher energy costs following Nvidia’s chip ban and speed China’s drive for tech self-reliance.

China’s He Lifeng vows to stabilise global trade, deepen cooperation amid new challenges

• He Lifeng’s remarks reinforce China’s bid to position itself as a pillar of global economic stability amid slowing trade and geopolitical strain. The message may support sentiment in Asian markets and signal Beijing’s openness to cross-border collaboration on supply-chain resilience.

China, Russia agree to deepen all-round cooperation under strategic partnership

• China and Russia vow closer alliance across trade, tech and security as their strategic partnership hits new heights.

Yale study finds ‘TACO gap’: U.S. tariffs on China far lower than Trump claims

• The Yale study suggests the real tariff burden on Chinese imports is far lighter than commonly believed, potentially tempering inflation risks and easing trade-related market concerns. The findings could also reshape debate over future U.S./China trade policy.

Russian Prime Minister Mishustin to visit China November 3–4, will meet Premier Li Qiang

• Prime Minister Mikhail Mishustin’s November 3–4 visit to China, where he will meet Premier Li Qiang and possibly President Xi Jinping. Moscow said the trip underscores the depth of Russia–China cooperation and their consistent high-level communication.

China’s Premier Li Qiang to deliver keynote at Shanghai import expo

• Chinese Premier Li Qiang will open the China International Import Expo in Shanghai next week and deliver the keynote speech, highlighting Beijing’s push to showcase its commitment to global trade and investment.

China private survey manufacturing PMI (October 2025) 50.6 (expected 50.7)

• China’s private manufacturing PMI slipped to 50.6 in October as output and new orders softened under tariff pressure. Employment rose for the first time in seven months, but exports weakened, prompting Beijing to step up fiscal support.

Trump says U.S. will block China from getting Nvidia’s most advanced chips

• Trump’s remarks signal that semiconductor export restrictions will remain a cornerstone of U.S. policy toward China, a stance that could affect global chip supply chains and sustain geopolitical risk premiums in the tech sector.

UBS: U.S./China talks modestly positive, AI demand underpinning market rallies

• UBS said the mildly constructive U.S./China outcome could reinforce global risk appetite, supporting equity gains led by AI-linked sectors. The bank expects the combination of geopolitical calm and tech momentum to underpin near-term bullish sentiment.