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Real-time News
September 1st - The Hong Kong Transport Department recently formally invited platform companies to apply for ride-hailing service licenses, with the first batch of licenses expected to be issued starting as early as the end of November. According to Hong Kong media reports, Cao Cao Mobility is working with Octopus Card (Hong Kong) to explore participation in the license application and related arrangements. According to the Hong Kong Transport Departments regulations, ride-hailing platform licenses are valid for a maximum of five years, with an annual license fee of HK$1.2 million. Applicants must be Hong Kong-registered companies with resident management personnel and offices in Hong Kong, and must also meet requirements regarding operational scale and capital strength.The Norwegian Road Transport Information Council reported that Tesla (TSLA.O) new car registrations in Norway fell 79% year-on-year in August.Futures News, September 1st: Aluminum prices have recently rebounded after fluctuating. The main reasons are: 1. The US Treasury announced an expansion of its long-term bond repurchase program, leading to a decline in long-term interest rates and improved market risk appetite, resulting in a rebound in aluminum prices; the US July PCE price index slightly exceeded expectations, but the market reaction was limited; Nvidias second-quarter earnings report exceeded expectations, driving continued strong growth in related computing power and power investment. 2. While aluminum prices rose, downstream demand cooled slightly, while aluminum exports and the recycling sector maintained steady consumption. Looking ahead, considering the hawkish signals released by the Wash-Jackson Hole symposium and the remaining uncertainties in the geopolitical situation, aluminum prices may continue to fluctuate between 23,800-24,300 yuan/ton.September 1 – On September 1, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. In response to a question regarding New Zealand politicians, Guo Jiakun stated that China has always adhered to the principle of non-interference in internal affairs and has never had the interest in, nor will it, interfere in the internal affairs of other countries in any way. The remarks concerning New Zealand are baseless. China consistently upholds the principle of "four full respects" in developing relations with Pacific Island countries and has neither the interest nor the history of interfering in the internal affairs of other countries.On September 1st, the Huangpu District Peoples Government Office of Shanghai issued the "15th Five-Year Plan for the Reform and Development of State-owned Assets and Enterprises in Huangpu District." The plan outlines support for enterprises to utilize capital market refinancing tools to strengthen and supplement their supply chains in accordance with legal and compliant principles, based on their development needs. It also emphasizes the continuous revitalization of existing assets. The plan strengthens the functions of the state-owned assets management platform, enhances asset operation and professional disposal capabilities, and gradually establishes an asset "receive-revitalize-inject" model. For assets that align with the regions key industrial directions and meet injection conditions, operational efficiency will be improved through injection into district-owned enterprises and listed companies, thus opening up channels for assets, funds, and capital. The plan also strengthens cooperation with professional institutions, utilizing non-performing asset acquisition and disposal, substantive restructuring, and market-oriented debt-to-equity swaps in accordance with legal and compliant principles to tap the value of idle and inefficient assets. Furthermore, it encourages eligible district-owned enterprises to effectively revitalize existing assets through asset securitization and other means, and to study REITs implementation paths based on infrastructure such as commercial complexes, industrial parks, and affordable rental housing as underlying assets, continuously improving the level of state-owned capital securitization.
