[Market Data]

By the close of the 17th, the Shanghai Composite Index fell 1.05% to 3,169.38 points; the Science and Technology Innovation 50 Index rose 0.39% to 879.1 points; the Shenzhen Component Index fell 0.74% to 9,891.76 points; and the GEM Index fell 0.32% to 2,033.48 points.

On Thursday, the three major U.S. stock indexes closed mixed, with the Dow rising 0.37% to 43,239.05 points, continuing to hit a record high; the S & P 500 Index falling 0.02% to 5,841.47 points, once setting a record high during the session; the Nasdaq Index rose 0.04% to 18,373.61 points.

International oil prices rose on the 17th. As of the close of the day, light crude oil futures for November delivery on the New York Mercantile Exchange rose 28 cents to close at US$70.67 a barrel, an increase of 0.40%; London Brent crude oil futures for December delivery rose 23 cents to close at US$74.45 a barrel, an increase of 0.31%.

[Financial News]

1. According to the website of the State Council Information Office, the State Council Information Office will hold a press conference at 10 a.m. on Friday, October 18, 2024. Sheng Laiyun, Deputy Director of the National Bureau of Statistics, will be invited to introduce the national economic performance in the first three quarters of 2024. Li Hongyan, Deputy Director of the State Administration of Foreign Exchange, will introduce the foreign exchange revenue and expenditure data for the first three quarters of 2024.

2. According to Xinhua Agency, from the 18th to the 20th, the 2024 Financial Street Forum Annual Meeting will be held in Beijing. More than 500 Chinese and foreign guests will focus on current economic and financial hot topics for in-depth discussions. Pan Gongsheng, Governor of the People's Bank of China, Li Yunze, Director of the State Administration of Financial Supervision, and Wu Qing, Chairman of the China Securities Regulatory Commission, will attend the opening ceremony and deliver keynote speeches.

3. According to CCTV News, on October 17, China Foreign Ministry Spokesperson Mao Ning held a regular press conference. At the meeting, a reporter asked China's response to U.S. officials 'request to impose restrictions on Huawei and related companies in the semiconductor field. Mao Ning said that we have always and resolutely opposed the United States to generalize the concept of national security, artificially create obstacles, and undermine normal economic and trade cooperation between China and the United States. This practice is not conducive to the stability of the global production and supply chain. We hope that the United States can correct its wrong practices and provide a fair, just and non-discriminatory environment for China companies.

4. According to CCTV News, the Ministry of Commerce held a press conference on the afternoon of October 17. The spokesperson of the Ministry of Commerce responded to the China-EU electric vehicle tariff negotiation process: So far, China has shown the greatest sincerity and flexibility, and both sides have made progress in some areas. Important progress, but as the European side has never actively responded to issues involving core concerns of the Chinese and European industries, there are still major differences in the consultations. China has officially invited the European technical team to come to China as soon as possible to continue the next stage of consultations. It has made all preparations for this and is waiting for the European side to respond.

5. On October 17, the State Council Information Office held a press conference. Ni Hong, Minister of Housing and Urban-Rural Development, said that the credit scale for whitelisted projects would be increased to 4 trillion yuan by the end of the year. Under the influence of a series of policies, China's real estate market has begun to bottom out after three years of continuous adjustment. Relevant data in October will definitely be positive and optimistic results. I am confident that real estate will stop falling and stabilize.

6. According to the Securities Times, on October 18, Industrial and Commercial Bank of China, China Construction Bank, and Bank of Communications Mobile Banking all updated their deposit listing interest rates. Among them, the listing interest rates for three-month, half-year, one-year, two-year, three-year and five-year time deposits were all lowered by 25BP to 0.80%, 1.00%, 1.10%, 1.20%, 1.50%, 1.55%. The 7-day call deposit rate fell 25BP to 0.45%, and the 1-day call deposit rate fell 5BP to 0.10%. This is the second time that major banks have lowered deposit rates in less than three months after July. It will also be the sixth time that major banks have voluntarily lowered deposit rates since September 2022.

7. On October 17, the National Health Commission issued the "Guidelines for Diagnosis and Treatment of Obesity (2024 Edition)". This is the first authoritative guide for multidisciplinary diagnosis and treatment of obesity in China. It is of great significance to standardizing the clinical diagnosis and treatment of obesity in my country and improving the level of homogenization of obesity diagnosis and treatment in medical institutions. In recent years, the prevalence of overweight and obese people in my country has continued to rise. As an independent disease type among chronic diseases and an important pathogenic factor of multiple chronic diseases, obesity has become a major public health problem in my country and the sixth largest major risk factor for death and disability in my country. The multidisciplinary collaborative (MDT) diagnosis and treatment model can effectively improve the level of obesity diagnosis and treatment.

8. According to the Ministry of Commerce, as of 24:00 on October 16, 10.826 million consumers had purchased 15.64 million units of eight major categories of home appliance products traded in old ones, enjoying central subsidies of 13.96 billion yuan, driving sales of 73.36 billion yuan. In the next step, the Ministry of Commerce will promote home appliance production and circulation enterprises to seize important consumption nodes, add profits from enterprises, and fully release policy effects.

9. On October 17, according to the official public account of the "Shanghai Release", the Shanghai City Provident Fund Management Center issued the "Notice on Adjusting the City's Housing Provident Fund Individual Housing Loan Policies"(hereinafter referred to as the "Notice"). The "Notice" clarifies that for those identified as the second improved housing, the minimum down payment ratio will be adjusted to 25%; for those identified as the second improved housing and the housing purchased with the loan is located in Lingang New Area of China (Shanghai) Pilot Free Trade Zone and the six administrative districts of Jiading, Qingpu, Songjiang, Fengxian, Baoshan and Jinshan, the minimum down payment ratio will be adjusted to 20%. This policy adjustment will take effect from October 18, 2024.

10. On October 17, the paper learned that the latest issue of the "Guide to the High-Quality Development of Listed Companies in Shenzhen Stock Exchange" issued by the Shenzhen Stock Exchange. In order to help listed companies fully understand and deeply grasp the regulatory requirements, the content of this issue is a special issue on mergers and acquisitions. The content focuses on conducting mergers and acquisitions in a standardized, orderly, pragmatic and effective manner, sorting out relevant policy documents and information, and sorting out typical mergers and acquisitions cases implemented in recent years.

11. According to Xinhua Finance, on October 16, Li Jiachao, Chief Executive of the Hong Kong Special Administrative Region, announced a reduction in the tax rate on spirits. The tax rate for parts above 200 yuan will be reduced from 100% to 10%, and the parts below 200 yuan will remain unchanged. A leading distributor of Kweichow Moutai in Hong Kong told reporters,"In response to the reduction of spirits tax in Hong Kong, the selling price of Moutai in Hong Kong will definitely be reduced." The dealer said that Moutai dealers in Hong Kong are currently studying reducing the selling price in the regional market, but the specific adjustment range has not yet been determined.

12. According to the Paper, the Department of Natural Resources of Zhejiang Province responded to the cancellation of Alibaba Cloud's Class A surveying and mapping qualifications. On October 17, the Zhejiang Province Department of Natural Resources told the Paper reporter: "Alibaba Cloud took the initiative to apply for cancellation. In accordance with the" Surveying and Mapping Law of the People's Republic of China "and relevant regulations on the management of national and provincial surveying and mapping qualifications, it has been approved by Hangzhou Planning and Natural Resources Bureau. The Xihu Branch of the Bureau and the Hangzhou City Planning and Natural Resources Bureau reviewed and agreed to the cancellation application of Alibaba Cloud Computing Co., Ltd., and made a decision on October 14 to make it public online as required. Alibaba Cloud is not the same company as the domestic B company notified by the Ministry of National Security." The Zhejiang Department of Natural Resources further stated to The Paper that the reason for Alibaba Cloud Computing Co., Ltd. to cancel its surveying and mapping qualification was that the company had readjusted its internal structure and organizational structure based on current business development, and after internal arrangements, it had not used the company's surveying and mapping license qualifications to carry out business related to Internet map services, and there was no plan to conduct business in a short period of time, so it applied for cancellation.