• PBOC’s deputy governor Yi Gang said in an article published on the People’s Daily that the yuan will remain basically stable at a reasonable and balanced level; China will continue with prudent monetary policy; China will maintain ample liquidity, enhance credit support for small-medium enterprises and the agriculture sector, and create a supportive financial monetary environment for supply-side reforms
  • China’s HNA Group announced Monday that it will acquire about 25% stake in Hilton Worldwide Holdings Inc. from Blackstone Group LP for 6.5 billion US dollars
  • China’s iron and steel enterprises had cut 40-million-ton production capacity from January to September, accounting for 90% of its target to reduce a total of 45 million tons for this year, the 21st Century Business Herald reported, citing an official within the Ministry of the Industry and Information Technology
  • China’s iron ore futures surged by the daily limit to 471.5 yuan per ton as of 9:50 Beijing time, a record high since March 2015; coke and zinc futures rose more than 4%; manganese silicate, rebar, and hot rolled futures were all up over 3%
  • China is expected to complete its target of cutting production capacity in the steel industry in October, and will strive to complete its goal for the coal industry in November: the National Development and Reform Commission
  • The Ministry of Human Resources and Social Security says it will start investment operation of pension funds, and will announce the first pension fund management agencies soon
  • The Shanghai index closed 0.11% lower by the midday break, while the Shenzhen index rose 0.13% and the ChiNext index climbed 0.11%