中国证监会原党委委员、副主席王建军严重违纪违法被“双开”。 ...

国家移民管理局今天发布10项移民和出入境管理服务政策举措。自2025年11月5日起，在北京、上海、粤港澳大湾区的基础上，在长三角、京津冀地区全域，以及全国所有自由贸易试验区实施往来港澳人才签注政策。 ...

中国10月RatingDog制造业PMI录得50.6，预期50.9，前值51.2。 ...

Geopolitical & Economic Implications - The report highlights Trump's assessment of Xi Jinping as a "very tough negotiator," suggesting potential challenges in trade negotiations [1] - Trump acknowledged the possibility of reaching an agreement, indicating potential for positive developments in US-China relations [1] - The report emphasizes the strong relationship between Trump and Xi Jinping, which could influence the dynamics of negotiations [1] Leadership Assessment - Trump characterizes both Xi Jinping and Vladimir Putin as "very powerful leaders," underscoring their significance on the global stage [1]

特朗普称不会出席本周最高法院就其全球关税措施合法性举行的听证会。最高法院定于周三审理特朗普对一家下级法院裁决提出的上诉。此前，联邦上诉法院裁定特朗普实施多项关税措施超越了总统的紧急权力范围。 https://t.co/IK0cjXdXyA ...

Trade Policy Change - China will issue general export licenses for rare earths, gallium, germanium, antimony, and graphite to US end-users and their global suppliers [1] - The general license effectively cancels the control measures implemented by China in April 2025 and October 2025 respectively [1] Timeline Correction - The implementation dates of the control measures are corrected to April 2025 and October 2025, not October 2022 [1]

Trade Agreement: China's Commitments - China will suspend global implementation of new export controls on rare earths announced on October 9, 2025 [1] - China will issue general export licenses for rare earths, gallium, germanium, antimony, and graphite to US end-users and their global suppliers, effectively canceling restrictions implemented in April 2025 and October 2022 [1] - China will halt the flow of fentanyl to the US by ceasing exports of certain chemicals to North America and strictly controlling exports of other chemicals worldwide [1] - China will suspend all retaliatory tariffs announced since March 4, 2025, including tariffs on major US agricultural products such as chicken, wheat, corn, cotton, sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy products [1] - China will suspend or cancel all non-tariff retaliatory measures against the US since March 4, 2025, including the listing of certain US companies on its end-user and unreliable entity lists [1] - China will purchase at least 12 million tons of US soybeans in the last two months of 2025 and at least 25 million tons annually in 2026, 2027, and 2028, and will resume purchases of US sorghum and hardwood logs [1] - China will take appropriate measures to ensure the resumption of trade at Nexperia's (安世半导体) factory in China, enabling the flow of critical legacy chip production to the rest of the world [2] - China will cancel retaliatory measures taken in response to the US's Section 301 investigation into China's dominance in the maritime, logistics, and shipbuilding sectors, and will lift sanctions on multiple shipping entities [2] - China will further extend the validity of the market-based tariff exemption program for US imports until December 31, 2026 [2] - China will terminate all investigations against US semiconductor supply chain companies, including antitrust, anti-monopoly, and anti-dumping investigations [3] Trade Agreement: US Commitments - The US will reduce tariffs on Chinese imports aimed at curbing fentanyl inflows by a cumulative 10 percentage points starting November 10, 2025, and will extend the suspension of higher reciprocal tariffs on Chinese imports until November 10, 2026 (the existing 10% reciprocal tariffs will remain in effect during this suspension) [4] - The US will further extend the validity of certain Section 301 tariff exemptions, currently set to expire on November 29, 2025, until November 10, 2026 [4] - The US will suspend the temporary final rule titled "Expanding End-User Controls to Cover Affiliates of Certain Listed Entities" for one year, starting November 10, 2025 [4] - The US will suspend the implementation of measures taken under Section 301 of the Trade Act against "China's attempts to achieve a monopoly by monopolizing the maritime, logistics, and shipbuilding industries" for one year, starting November 10, 2025; during this period, the US will continue negotiations with China under Section 301 of the Trade Act, while continuing historical cooperation with South Korea and Japan in revitalizing the US shipbuilding industry [4]

伯克希尔哈撒韦2025年第三季度净利润307.96亿美元，高于127.3亿美元的市场预期，去年同期262.51亿美元；营收949.72亿美元，高于市场预期915.5亿美元，去年同期929.95亿美元。伯克希尔哈撒韦已连续第12个季度成为股票净卖方，现金储备达到创纪录的3816.7亿美元。 ...

Government Intervention & Supply Chain - Ministry of Commerce states that improper intervention by the Dutch government in internal affairs of enterprises has led to the current global supply chain disruption [1] - China, as a responsible major country, fully considers the safety and stability of domestic and international supply chains [1] - China welcomes enterprises encountering practical difficulties to contact the Ministry of Commerce or local commercial authorities in a timely manner [1] - China will comprehensively consider the actual situation of enterprises and grant exemptions for eligible exports [1] Anshi Semiconductor (Nexperia) China Statement - The relevant decisions of the Dutch headquarters have no legal effect in China [1] - Zhang Qiuming's position and identity remain unchanged [1] - Zhang Qiuming's actions within his authority represent Anshi China (Nexperia China) [1]

Tax Policy Changes - Non-investment gold uses "ordinary invoice × 6% deduction rate" to deduct input VAT, the actual tax burden may increase [1] - Investment gold can deduct special VAT invoice tax amount [1][2] - The window period for changing the purpose of gold is set to 6 months, and can only be modified once, which increases restrictions on the flexible use of inventory gold by related companies [1] - This may lead some processing companies to lock in downstream uses in advance and reduce speculative operations [1] - The policy clarifies the penalties for issuing false invoices and tax evasion [1] - If a company violates regulations, the exchange will suspend its "immediate levy and refund" qualification and restrict invoice deduction, which may affect the capital return rhythm of the gold trade chain [1] VAT and Surcharges - Member units purchase standard gold for investment purposes, the exchange implements immediate VAT levy and refund, and exempts urban maintenance and construction tax and education fee surcharges [2] - The exchange issues special VAT invoices to the buying member units according to the actual transaction price [2]