Real-time News

On April 28th, it was reported that on April 24th, the National Development and Reform Commission (NDRC) and the People's Bank of China (PBOC) convened an inter-ministerial joint meeting and work deployment meeting on the construction of the social credit system. Officials from 48 member units of the inter-ministerial joint meeting attended the meeting. Li Chunlin, Vice Chairman of the NDRC, and Zou Lan, Vice Governor of the PBOC, attended and addressed the meeting. The meeting emphasized strengthening government integrity, accelerating the process of credit legislation, promoting the construction of a high-level credit economy, improving the level of public credit evaluation, perfecting the incentive mechanism for trustworthy behavior, deepening credit information sharing, and pushing the construction of the social credit system to a new level.

On April 28th, the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Guangdong Province" was officially released. It mentions the development of core intelligent industries. Focusing on basic software such as intelligent operating systems and development frameworks, and key core technologies such as high-end training and inference chips and edge computing chips, the plan aims to cultivate competitive software and hardware products and digital industry clusters. It promotes the research and development and industrialization of industrial robots, service robots, special robots, and general-purpose intelligent high-end products. It accelerates the development of intelligent connected vehicles, constructs intelligent connected vehicle testing zones and vehicle-road cooperative facilities. It expands the market for consumer-grade intelligent products, improves the performance of public service-grade intelligent products, innovates categories of industry-application intelligent products, develops high-end intelligent terminal products, and cultivates intelligent terminal and equipment industry clusters. It strengthens the integration and collaboration of "big brain" and "small brain" technologies, promotes intelligent agent collaboration and large-scale application, and drives comprehensive reconstruction with AI native drivers. It establishes a dual-pole framework of an innovation center in the field of intelligent agents and an innovation center in the field of intelligent terminals to support the creation of the Guangdong Provincial Artificial Intelligence Innovation Center.

On April 28th, the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Guangdong Province" was officially released. It mentions enhancing the fundamental capabilities of large-scale models. This includes supporting multi-path technology exploration, algorithm optimization, and model infrastructure innovation, strengthening collaborative innovation across "model, chip, cloud, and application." It also calls for the coordinated development of large-scale model training and inference facilities, building a Guangdong-characteristic embodied intelligence training ground system. Furthermore, it aims to create high-level general-purpose large-scale models, develop trillion-parameter models, and construct multimodal and world models. The plan emphasizes developing vertical large-scale models in advantageous fields, focusing on areas such as financial services, people's livelihood, and governance, cultivating vertical models adapted to complex scenarios and integrating multimodal data. It also calls for developing small-scale models for specific scenarios, targeting scenarios such as technology and healthcare, and launching lightweight and secure scenario-level model products such as intelligent agents and MaaS. Finally, it encourages exploring new forms of model applications, improving the ability to handle complex tasks, optimizing interactive experiences, and promoting technological innovation in multimodal, intelligent agent, embodied intelligence, and swarm intelligence. Finally, it establishes and improves model capability assessment and security assessment systems to promote effective iterative improvement of model capabilities.

The Hang Seng Tech Index fell more than 1% during the session, with sectors such as Apple concept stocks, brain-computer interfaces, commercial aerospace, and power equipment leading the decline.

CUE Energy Resources: The recent surge in global oil prices is expected to be reflected in the fourth quarter.

On April 28th, the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Guangdong Province" was officially released. It emphasizes the development of the banking industry, supporting the growth and strengthening of bank entities and branches, and supporting mergers and acquisitions of city commercial banks, rural commercial banks, and village banks. It also calls for accelerating the development of the securities industry, accelerating the construction of a more competitive multi-tiered capital market, supporting the growth of the Shenzhen Stock Exchange and the Guangzhou Futures Exchange, and vigorously developing venture capital and other equity investment businesses. Furthermore, it supports the innovative development of the insurance industry, encouraging insurance institutions to innovate service mechanisms such as liability insurance and catastrophic insurance, and to innovate insurance products in areas such as science and technology innovation, marine industries, and elderly care. The plan also promotes the sound development of factoring, guarantee, micro-lending, and other pan-financial sectors. Finally, it calls for steadily expanding institutional opening-up in the financial sector, orderly promoting the interconnection of the Guangdong-Hong Kong-Macao financial markets, and expanding the pilot programs for "Cross-border Wealth Management Connect" and unified RMB and foreign currency bank settlement accounts.

On April 28th, the "Outline of the 15th Five-Year Plan for National Economic and Social Development of Guangdong Province" was officially released. It mentions promoting the formation and development of future industries. The plan calls for implementing a tiered cultivation action for future industries, leveraging technological advantages, industrial foundation, and resource endowments to proactively plan and accelerate the development of future industries. It aims to establish national future industry research institutes and concept verification centers, and actively seek to build future industry pilot zones in regions with outstanding scientific and educational resources and strong industrial foundations. Focusing on key areas such as future networks, general intelligence, life and health, low-carbon energy, and future space, the plan emphasizes vigorously developing key industries such as sixth-generation mobile communication, empathic intelligence, cell and gene therapy, brain science and brain-computer interfaces, hydrogen energy, advanced nuclear energy, deep-sea exploration, and quantum technology, actively creating new economic growth points. The plan also aims to improve the policy system for cultivating and developing new tracks for future industries, explore diverse technological routes, feasible business models, and market regulatory rules, and better guide the accelerated implementation and iterative upgrading of new technologies and products.

Iranian Foreign Minister: We welcome Russia's support for diplomacy.

April 28th - The China Council for the Promotion of International Trade (CCPIT) will hold its April routine press conference at 10:00 AM on Wednesday, April 29th, in the CCPIT Auditorium. This session will cover: preparations for the 4th China International Blockchain Expo; the upcoming 2026 Global Trade and Investment Promotion Summit (GTIS); progress on promoting Sino-US business cooperation; the outcomes of the second APEC Business Advisory Council (ABAC) meeting in 2026; and considerations for supporting the development of private enterprises and promoting high-quality development of e-commerce.

On April 28th, the State Taxation Administration announced a tax evasion case. An investigation revealed that Bai Bing, a popular online influencer known for her restaurant reviews, evaded 9.1118 million yuan in personal income tax, value-added tax, and deed tax between 2021 and 2024 by changing the nature of her income and making false declarations. The State Taxation Administration ordered her to pay back the 18.9124 million yuan in taxes, late payment fees, and fines. All of the aforementioned amounts have now been recovered.

Iranian Foreign Minister Araqchi: At a time of significant instability in the region, it is a pleasure to engage with Russia at the highest level. Recent developments have demonstrated the depth and strength of our strategic partnership. We appreciate this solidarity as bilateral relations continue to develop and welcome Russia's support for our diplomatic efforts.

On April 28th, the Changsha Municipal Housing Provident Fund Management Center issued two important documents: "Notice on Adjusting Housing Provident Fund Business Policies" and "Notice on Optimizing Housing Provident Fund Contribution and Use Policies for Flexible Employment Personnel." The new policies, effective May 1st, optimize and upgrade various aspects including loan limits, intergenerational assistance, medical expense withdrawals, and flexible employment contributions, further lowering the threshold for homeownership. The most attention-grabbing aspect of these new policies is the comprehensive increase in loan limits. For families purchasing newly built commercial housing, the maximum loan amount using provident fund loans is increased to 1.2 million yuan; for purchasing second-hand housing, the maximum loan amount is increased to 1 million yuan. Simultaneously, for families with two or more children purchasing their first or second owner-occupied home, the maximum loan amount can be increased by 30% from the current standard, with a maximum loan amount of 1.56 million yuan for new homes and 1.3 million yuan for second-hand homes. Furthermore, when citizens apply for provident fund loans to purchase newly built commercial housing, the number of housing units is determined solely by the number of units owned in the district/county (city) where the property is located.

On April 28th, the highest 7-day annualized yield of Tencent Wealth Management's "Current Account +" was 1.2580%, and the lowest was 0.7660%. The highest 7-day annualized yield of WeChat Pay's "Lingqian Tong" was 1.0620%, and the lowest was 1.0010%. The highest 7-day annualized yield of Alipay's "Yu'ebao" was 1.1050%, and the lowest was 1.0010%.

The China-South Korea semiconductor ETF rose by more than 5%.

Hong Kong-listed AI stocks were active in early trading, with Nobicon (02635.HK) rising over 4%, NetEase-S (09999.HK) rising over 2%, Xunze (03317.HK) rising nearly 2%, and MINIMAX-W (00100.HK), Zhipu (02513.HK), and UBTECH (09880.HK) also rising.