Core Points - The U.S. Treasury Secretary indicated that a U.S.-China trade agreement could be signed as early as next week, which aligns with China's expectations for trade relations [1][3] - Chinese Foreign Ministry spokesperson emphasized the mutual benefits of U.S.-China economic relations, stating that trade should serve as a stabilizing force rather than a point of conflict [3] Group 1 - The meeting between the U.S. and Chinese leaders in Busan included discussions on economic and trade relations, with an agreement to enhance cooperation in these areas [1][3] - China is committed to implementing the important consensus reached by the two heads of state, focusing on equality, respect, and mutual benefit through dialogue and consultation [3] - The Chinese government has expressed willingness to adjust countermeasures in response to U.S. tariffs on Chinese imports, indicating a potential shift in trade policy [3]

Core Viewpoint - The essence of China-U.S. economic and trade relations is mutual benefit and win-win cooperation, with a focus on dialogue and collaboration to enhance stability and certainty in the global context [1] Group 1: Economic Cooperation - The leaders of China and the U.S. discussed economic and trade relations during their meeting in Busan, agreeing to strengthen cooperation in these areas [1] - China is willing to work with the U.S. to implement the important consensus reached by the two heads of state, emphasizing equality, respect, and mutual benefit [1] Group 2: Problem-Solving Approach - China aims to continuously reduce the list of issues while expanding the list of cooperation through dialogue and consultation [1] - The goal is to promote healthy, stable, and sustainable development of China-U.S. relations, contributing to greater certainty and stability in the world [1]

Core Viewpoint - The meeting between the leaders of China and the United States in Busan, South Korea, emphasizes the importance of strengthening economic and trade cooperation between the two countries, with a focus on mutual benefits for the business communities involved [1][3]. Group 1: Economic Cooperation - The Chinese and U.S. business communities are seen as the main force and beneficiaries of bilateral economic cooperation, forming a mutually beneficial interest community [3]. - The China Council for the Promotion of International Trade (CCPIT) has organized over 60 delegations from U.S. institutions and enterprises to visit China this year, indicating strong engagement [3]. - The number of U.S. exhibitors at the third Chain Expo increased by 15% compared to the previous year, highlighting growing interest in collaboration [3]. Group 2: Trade Statistics - In the first nine months of this year, the CCPIT issued 66,000 certificates of origin for exports to the U.S., and facilitated over 7,000 patent and trademark applications for U.S. applicants in China [3]. - From January to October, over 3,500 Chinese enterprises participated in more than 50 professional exhibitions in the U.S., covering various sectors such as electronics and textiles, with a total exhibition area exceeding 48,000 square meters [3]. Group 3: Market Diversification - China's trade with countries involved in the Belt and Road Initiative reached 17.37 trillion yuan, a 6.2% increase, accounting for 51.7% of total trade value [6]. - Trade with ASEAN, Latin America, Africa, and Central Asia saw increases of 9.6%, 3.9%, 19.5%, and 16.7% respectively [6]. Group 4: Regional Cooperation - The CCPIT is actively promoting trade cooperation with ASEAN countries, organizing over 152 exhibition projects with more than 5,000 participating enterprises this year [7]. - The 18th China-Latin America Entrepreneurs Summit will be held in Zhengzhou, focusing on cooperation in sectors such as mining, meat, and electronics [7]. Group 5: Upcoming Events - The 18th China-EU Investment Trade and Technology Cooperation Fair will be held in Chengdu, promoting collaboration in energy, digital technology, and biomedicine [8].

Core Points - The China Council for the Promotion of International Trade (CCPIT) emphasizes that advancing mutually beneficial cooperation between China and the U.S. aligns with the interests of both countries and the global business community [1][2] - The CCPIT is currently organizing a delegation of Chinese entrepreneurs to attend the APEC Business Leaders Summit in South Korea, highlighting the high interest from both Chinese and U.S. enterprises in the meeting outcomes [1] - In 2023, the CCPIT has hosted over 60 delegations from U.S. institutions and enterprises visiting China, indicating a strong engagement between the two nations [1] - The number of U.S. exhibitors at the third Chain Expo increased by 15% compared to the previous year, maintaining the highest number of foreign exhibitors, with a 10% growth in exhibition area [1] - The CCPIT and the U.S. Department of Commerce's International Trade Administration have jointly organized over 100 activities under the China-U.S. Enterprise Cooperation Project (CMP), serving nearly 3,000 companies and facilitating practical cooperation in various sectors [1] Industry Insights - The CCPIT aims to leverage the outcomes of the leaders' meetings to benefit Chinese and U.S. enterprises, facilitating expanded economic and trade exchanges [2] - The focus is on promoting healthy, stable, and sustainable development of China-U.S. economic and trade relations [2]

Core Insights - The China Council for the Promotion of International Trade (CCPIT) emphasizes the mutual benefits and win-win relationship formed between Chinese and American businesses in recent years, particularly through increased trade interactions [1][2] Group 1: Trade Relations - In 2023, the CCPIT has hosted over 60 delegations from American institutions and enterprises visiting China [1] - At the third Chain Expo held this year, the number of American exhibitors increased by 15% compared to the previous edition, maintaining the largest share of foreign exhibitors, with a 10% growth in exhibition area [1] - From January to October, the CCPIT organized over 3,500 Chinese enterprises to participate in more than 50 professional exhibitions in the U.S., including the Las Vegas Consumer Electronics Show [1] Group 2: Cooperation and Collaboration - In the first nine months of this year, the national trade promotion system issued 66,000 certificates of origin to the U.S. [2] - The CCPIT has facilitated over 7,000 patent and trademark applications for American applicants in China [2] - Under the China-U.S. Enterprise Cooperation Project (CMP) framework, more than 100 joint activities have been held, serving nearly 3,000 enterprises and promoting practical cooperation in various sectors such as advanced manufacturing and environmental protection [2] Group 3: Future Outlook - The CCPIT plans to continue expanding economic and trade exchanges between Chinese and American businesses, aiming to contribute to the healthy, stable, and sustainable development of China-U.S. economic relations [2]

Group 1 - The meeting between the leaders of China and the United States on October 30 in Busan, South Korea, is seen as a significant event, with both sides' business communities expressing high expectations for continued dialogue and cooperation [3][4] - The China Council for the Promotion of International Trade (CCPIT) has organized over 60 delegations of American institutions and business leaders to visit China this year, indicating a strong interest in bilateral trade [3] - The number of American exhibitors at the third Chain Expo increased by 15% compared to the previous year, highlighting the growing engagement of U.S. companies in Chinese markets [3] Group 2 - From January to October, the CCPIT guided over 3,500 Chinese companies to participate in more than 50 professional exhibitions in the U.S., covering various sectors such as electronics, textiles, and pharmaceuticals, with a total exhibition area exceeding 48,000 square meters [4] - The CCPIT aims to leverage the outcomes of the leaders' meeting to enhance economic exchanges and cooperation between Chinese and American businesses, contributing to the sustainable development of Sino-U.S. economic relations [4]

Report Industry Investment Rating - No relevant content provided Core Viewpoints of the Report - The A-share market showed positive performance in the first three quarters of 2025, with revenue and net profit increasing year-on-year, and the profit growth rate in the third quarter significantly improved [7]. - The Sino-US economic and trade consultations achieved consensus, which will have a positive impact on relevant industries [6]. - Policies such as the improvement of duty-free shop policies and the release of new policy-based financial instruments will support consumption and project construction [8]. Summary by Related Catalogs 1. Chemical Industry - On October 31, 2025, among chemical products, the prices of coking coal, coke, natural rubber, etc. rose, while the prices of 20 - number rubber, PVC, etc. fell [4]. 2. Macro News - The Chinese and US heads of state held talks, and the economic and trade teams reached a consensus on important economic and trade issues, and agreed to strengthen cooperation in economic and trade, energy and other fields [6]. - The results of the Sino - US economic and trade consultations in Kuala Lumpur were announced. The US will cancel the 10% so - called "fentanyl tariff" on Chinese goods, and the 24% reciprocal tariff will be suspended for another year [6]. - As of October 31, 2025, 5437 A - share listed companies disclosed their Q3 reports for 2025. The total revenue in the first three quarters was 53.41 trillion yuan, a year - on - year increase of 1.20%; the net profit attributable to the mother was 4.70 trillion yuan, a year - on - year increase of 5.34%. The profit growth rate in the third quarter reached 11.30% [7]. - The Ministry of Commerce issued an implementation opinion on expanding green trade, proposing 16 specific measures in three aspects [7]. - Five departments including the Ministry of Finance jointly issued a document to improve the duty - free shop policy from November 1, expanding the business categories of duty - free shops [8]. - 500 billion yuan of new policy - based financial instruments have been fully invested, which is expected to drive the total project investment to exceed 7 trillion yuan [8]. 3. Morning Meeting Views on Main Varieties 3.1 Agricultural Products - Peanuts: On October 30, the peanut futures closed at 7800 yuan/ton, showing a weak and volatile trend. It is recommended to wait and see in the short term, focusing on the support at 7700 yuan [11]. - Sugar: On October 30, the sugar futures closed at 5472 yuan/ton. It is recommended to short on rebounds, focusing on the performance of the 5450 - 5480 support zone [11]. - Corn: On October 30, the corn futures closed at 2111 yuan/ton. It is recommended to maintain a bearish view, focusing on the support at 2100 yuan [11]. - Live pigs: The overall price of live pigs rose slightly, but the northern region declined while the southern region rose. The spot price increase ended, and the futures market remained in a low - level shock [11]. - Eggs: The spot price of eggs was stable. The futures market maintained a strong shock. It is recommended to short in the short term and conduct inter - month reverse arbitrage [13]. - Cotton: On October 30, the Zhengzhou cotton futures closed at 13600 yuan/ton. The cotton price is expected to remain stable in the short term, fluctuating in the range of 13500 - 13700 yuan/ton [13]. 3.2 Energy and Chemicals - Urea: The domestic urea market price was weakly stable. The supply pressure is expected to increase, and the futures price will continue to be sorted at a low level [12]. - Caustic soda: The market expectation is weak, and the caustic soda 2601 contract is under pressure. Pay attention to the support at the annual low [12]. - Coking coal and coke: The price of coking coal is supported, and the third - round price increase negotiation for coke continues. The short - term price is expected to fluctuate and adjust [12][14]. - Pulp: The pulp futures are expected to maintain a bottom - shock trend in the short term. It is recommended to wait and see and pay attention to the port inventory reduction [14]. 3.3 Industrial Metals - Copper and aluminum: After the Sino - US talks, the copper and aluminum prices adjusted. Pay attention to macro risks [14]. - Alumina: The alumina market is in an oversupply pattern, and the 2601 contract is running at a low level. Pay attention to the interference of factors such as bauxite [14]. - Rebar and hot - rolled coils: The prices of rebar and hot - rolled coils fell. The fundamentals continued to improve, but there is short - term callback pressure [14][16]. - Ferroalloys: The double - silicon futures rebounded and then fell. The alloy market mainly follows the macro and black - series fluctuations [16]. - Lithium carbonate: The lithium carbonate futures price rose. It is recommended to be cautious about chasing up, focusing on the 84000 - 85000 pressure area [16]. 3.4 Options and Finance - Stock index futures and options: On October 30, the three major A - share indexes fell. Trend investors can pay attention to the strength - weakness arbitrage opportunities between varieties, and volatility investors can consider buying straddles or wide straddles to go long on volatility [16][17]. - Stock indexes: The Shanghai Composite Index may need time to stabilize above the 4000 - point mark and may fill the upward gap in the short term. It is recommended to allocate index futures contracts on dips [17].

640 当地时间10月30日中午，国家主席习近平在韩国釜山同美国总统特朗普举行会晤。 【成果之一】美方将暂停实施其对华海事、物流和造船业301调查措施一年。美方暂停实施相关措 施后，中方也将相应暂停实施针对美方的反制措施一年。 商务部新闻发言人就中美吉隆坡经贸磋商联合安排答记者问 商务部新闻发言人就中美吉隆坡经贸磋商联合安排答记者问。 （新华社北京10月30日电） 中美吉隆坡经贸磋商取得积极成果，充分证明双方秉持平等、尊重和互惠的精神，通过开展对话与 合作，能找到解决问题的办法。经贸磋商成果来之不易，中方期待与美方共同做好落实工作，为中美经 贸合作与世界经济注入更多确定性和稳定性。 问：据了解，中美双方在吉隆坡经贸磋商就解决各自关切的经贸问题达成联合安排。请问商务部能 否介绍吉隆坡经贸磋商共识更多情况？ 答：中美两国元首刚刚在韩国釜山举行会晤，深入讨论了中美经贸关系等议题，同意加强经贸等领 域合作。中方愿与美方一道，共同维护好、落实好两国元首会晤重要共识。 中美经贸团队通过吉隆坡磋商，达成的成果共识主要有以下几方面： 一、美方将取消针对中国商品（包括香港特别行政区和澳门特别行政区商品）加征的10%所谓"芬 太 ...

问：据了解，中美双方在吉隆坡经贸磋商就解决各自关切的经贸问题达成联合安排。请问商务部能否介 绍吉隆坡经贸磋商共识更多情况？ 三、美方将暂停实施其对华海事、物流和造船业301调查措施一年。美方暂停实施相关措施后，中方也 将相应暂停实施针对美方的反制措施一年。 此外，双方还就芬太尼禁毒合作、扩大农产品贸易、相关企业个案处理等问题达成共识。双方进一步确 认了马德里经贸磋商成果，美方在投资等领域作出积极承诺，中方将与美方妥善解决TikTok相关问题。 中美吉隆坡经贸磋商取得积极成果，充分证明双方秉持平等、尊重和互惠的精神，通过开展对话与合 作，能找到解决问题的办法。经贸磋商成果来之不易，中方期待与美方共同做好落实工作，为中美经贸 合作与世界经济注入更多确定性和稳定性。 答：中美两国元首刚刚在韩国釜山举行会晤，深入讨论了中美经贸关系等议题，同意加强经贸等领域合 作。中方愿与美方一道，共同维护好、落实好两国元首会晤重要共识。 中美经贸团队通过吉隆坡磋商，达成的成果共识主要有以下几方面： 一、美方将取消针对中国商品(包括香港特别行政区和澳门特别行政区商品)加征的10%所谓"芬太尼关 税"，对中国商品(包括香港特别行政区和澳 ...

商务部新闻发言人就中美吉隆坡经贸磋商联合安排答记者问。 答：中美两国元首刚刚在韩国釜山举行会晤，深入讨论了中美经贸关系等议题，同意加强经贸等领域合 作。中方愿与美方一道，共同维护好、落实好两国元首会晤重要共识。 此外，双方还就芬太尼禁毒合作、扩大农产品贸易、相关企业个案处理等问题达成共识。双方进一步确 认了马德里经贸磋商成果，美方在投资等领域作出积极承诺，中方将与美方妥善解决TikTok相关问题。 中美经贸团队通过吉隆坡磋商，达成的成果共识主要有以下几方面： 中美吉隆坡经贸磋商取得积极成果，充分证明双方秉持平等、尊重和互惠的精神，通过开展对话与合 作，能找到解决问题的办法。经贸磋商成果来之不易，中方期待与美方共同做好落实工作，为中美经贸 合作与世界经济注入更多确定性和稳定性。 一、美方将取消针对中国商品(包括香港特别行政区和澳门特别行政区商品)加征的10%所谓"芬太尼关 税"，对中国商品(包括香港特别行政区和澳门特别行政区商品)加征的24%对等关税将继续暂停一年。中 方将相应调整针对美方上述关税的反制措施。双方同意继续延长部分关税排除措施。 二、美方将暂停实施其9月29日公布的出口管制50%穿透性规则一年。中 ...