• Relevant authorities should accelerate the establishment of the Shanghai Cooperation Organization (SOC) Development Bank and SOC E-Commerce Business Alliance, and push forward the long-term development goals of the SOC Free Trade Zone, China’s Vice Commerce Minister Qian Keming said at the SOC economic forum on Thursday in Shanghai
  • The number of transactions involving overseas mergers and acquisitions (M&As) by companies from the Chinese mainland in the first three quarters of this year reached a record 671, nearly double the total for all of 2015: PwC
  • China’s investment in metro systems is expected to hit more than 1 trillion yuan ($148.28 billion) by 2020, as government planners accelerate approvals for such projects: Economic Information Daily
  • Average new home prices in China’s 70 major cities rose 11.2% in September from a year earlier, accelerating from a 9.2% increase in August: the National Bureau of Statistics (NBS)
  • New home price of China’s so-called four first-tier cities including Beijing, Shanghai, Guangzhou, and Shenzhen, gained 4.9%, 3.2%, 3.1% and 1.9% in September on a monthly basis, respectively, compared with the 3.8%, 5.2%, 2.4% and 2.1% gains in August: NBS
  • New home price growth in 15 first- and second-tier Chinese cities in the first half of October slowed sharply compared with the same period of September: NBS
  • China’s commercial banks sold a 189.7 billion yuan ($28.4 billion) worth of net foreign exchange in September, accelerating from a net sell of 63.4 billion yuan ($9.5 billion) in August: SAFE
  • The Offshore RMB against the US dollar dropped 0.24% to 6.7643 as of 10:26 Beijing time, hitting a fresh 6-year low, after falling below the 6.76 mark earlier, and meanwhile the Onshore RMB against the US dollar extended its drop to 0.15% at 6.7553
  • China’s cross-border capital flows should be basically stable going forward; increases in net capital outflows in the third quarter is mainly due to seasonal factors; China’s policy of an individual purchasing up to $50,000 worth of foreign exchange annually has not changed; the yuan’s recent weakness is mainly due to the Fed’s rate hike expectations; China’s cross-border capital outflows slowed in October
  • The Shanghai index closed 0.36% lower by the midday break, while the Shenzhen index lost 0.83% and the ChiNext index fell 0.99%