Group 1 - The General Administration of Customs announced the cessation of the current anti-dumping tax rate on imports of non-dispersion-shift single-mode optical fibers originating from the United States, effective November 10, 2025 [1] - The Ministry of Commerce previously implemented anti-avoidance measures on imports of related cutoff wavelength dispersion-shift single-mode optical fibers from the U.S. starting September 4, 2025, applying the same anti-dumping tax rate as for non-dispersion-shift single-mode optical fibers [1] - The Ministry of Commerce recommended the cessation of these anti-avoidance measures due to changes in the trade environment, leading to the decision by the State Council Tariff Commission [1] Group 2 - The General Administration of Customs also announced the termination of the suspension on the import of U.S. logs and the restoration of soybean import qualifications for CHS Inc. and two other companies, effective November 10, 2025 [2]

Core Viewpoint - The Chinese government has decided to stop applying the current anti-dumping tax rate on imports of certain optical fibers from the United States, effective November 10, 2025, indicating a shift in trade policy towards the U.S. [1][3] Summary by Relevant Sections - **Trade Policy Changes** - The Ministry of Commerce announced on November 5, 2025, that starting September 4, 2025, anti-circumvention measures would be applied to imports of certain optical fibers from the U.S. [3] - Following changes in the trade environment, the Ministry recommended to the State Council Tariff Commission to cease these measures, which was accepted, leading to the termination of the anti-dumping tax rate on specific U.S. optical fibers from November 10, 2025 [3] - **Customs Announcements** - On November 7, 2025, the General Administration of Customs announced the repeal of previous import restrictions on U.S. timber and the restoration of import qualifications for three companies, including CHS Inc., for soybean exports to China, effective November 10, 2025 [3] - **Implications for the Market** - The cessation of the anti-dumping tax could potentially lead to increased imports of U.S. optical fibers, impacting domestic suppliers and the overall market dynamics in the optical fiber industry [1][3]

Core Points - The Ministry of Commerce announced the implementation of anti-circumvention measures on imports of related cutoff wavelength single-mode fibers originating from the United States starting September 4, 2025 [1] - The current anti-dumping tax rate applicable to non-dispersion shifted single-mode fibers from the U.S. will also apply to the related cutoff wavelength single-mode fibers [1] - Due to changes in the trade environment, the Ministry of Commerce recommended the cessation of these anti-circumvention measures, which was accepted by the State Council Tariff Commission, effective November 10, 2025 [1] Summary by Sections - **Announcement Details** - The Ministry of Commerce issued Announcement No. 48 of 2025 on September 3, 2025 [1] - The measures will affect imports of specific single-mode fibers from the U.S. [1] - **Tax Rate Application** - The existing anti-dumping tax rate for non-dispersion shifted single-mode fibers will be applied to the related cutoff wavelength single-mode fibers [1] - **Cessation of Measures** - The Ministry of Commerce proposed to stop the anti-circumvention measures due to changes in the trade environment [1] - The cessation of these measures will take effect on November 10, 2025 [1]

Core Viewpoint - Changfei Fiber (601869.SH) saw its stock price rise over 6% to 97 yuan, reaching a historical high due to the Ministry of Commerce's ruling on anti-dumping measures against U.S. imports of specific optical fibers [1] Group 1: Regulatory Changes - The Ministry of Commerce announced a ruling regarding the anti-circumvention investigation of imported wavelength-shifting single-mode optical fibers from the U.S. [1] - The ruling determined that U.S. fiber manufacturers and exporters altered trade practices to export related wavelength-shifting single-mode optical fibers (G.654.C fibers) to China, undermining existing anti-dumping measures [1] - The Ministry proposed adjustments to the tax scope to the State Council Tariff Commission, which decided to apply the current anti-dumping tax rates on non-dispersive wavelength-shifting single-mode optical fibers from the U.S. starting September 4, 2025 [1] Group 2: Anti-Dumping Tax Rates - The anti-dumping tax rates for various companies are as follows: Corning Incorporated at 37.9%, OFS Fitel, LLC at 33.3%, Draka Communications Americas, Inc. at 78.2%, and other U.S. companies at 78.2% [1]

Group 1 - The Ministry of Commerce announced the implementation of anti-circumvention measures on imports of specific single-mode optical fibers originating from the United States, effective from September 4, 2025 [1] - The current anti-dumping tax rate applicable to non-dispersion shifted single-mode optical fibers from the U.S. will also apply to the newly specified related cutoff wavelength single-mode optical fibers [1] - Importers or their agents must declare the specific product code 90011000.01 when importing the related cutoff wavelength single-mode optical fibers, as per the announcement [1]

Group 1 - The General Administration of Customs announced that the Ministry of Commerce has issued Announcement No. 48 of 2025, which will implement anti-circumvention measures on imports of certain single-mode optical fibers originating from the United States starting from September 4, 2025 [1] - The current anti-dumping tax rate applicable to non-dispersion shifted single-mode optical fibers from the United States will also apply to the relevant cutoff wavelength single-mode optical fibers [1] - Importers or their agents must declare the relevant cutoff wavelength single-mode optical fibers under the specified commodity code 90011000, with the specific code 90011000.01 for declaration purposes [1]

Group 1 - The Ministry of Commerce has decided to apply the current anti-dumping tax rates on imports of non-dispersion single-mode optical fibers from the U.S. to related cutoff wavelength single-mode optical fibers starting September 4, 2025. The anti-dumping tax rates are as follows: Corning Inc. at 37.9%, OFS-Fitel LLC at 33.3%, and Draka Communications USA at 78.2%, with other U.S. companies also at 78.2% [1] - The Ministry of Finance and the People's Bank of China held a meeting to emphasize the collaboration between fiscal and monetary policies, aiming to ensure the smooth development of the bond market and the effective implementation of these policies [2] - FTSE Russell announced changes to the FTSE China 50 Index, effective after the market close on September 19, which includes the addition of companies such as BeiGene, Neway, WuXi AppTec, and Zhongji Xuchuang, while removing China National Nuclear Power, China Unicom, Guodian NARI, and Wanhua Chemical [3] Group 2 - Several paper manufacturers, including Nine Dragons Paper, Shanying International, Lee & Man Paper, and Wuzhou Special Paper, have implemented a dual strategy of price increases and production halts as the traditional peak season approaches [4] - Wenzhou has officially established an artificial intelligence bureau, marking the first such bureau in Zhejiang Province [5] - Zhongcheng Co. plans to issue shares to acquire 100% of Jiangsu Qingneng and raise matching funds, while Botek announced a contract for approximately €9.465 million for fully automated silicon photonic packaging equipment [6] Group 3 - Tianpu Co. has been suspended for review due to multiple instances of unusual stock trading since August 22, while Yuanjie Technology warned that its sales revenue in the data center market may be significantly impacted if market development does not meet expectations [7] - Dongxin Co. reported that Lishuan Technology has begun sample deliveries to some clients and is continuously optimizing its products [8] - A subsidiary of Aishida, Qianjiang Robotics, has secured an order for 1,888 intelligent welding robots from Honglu Steel Structure [9] Group 4 - U.S. stock indices closed mixed, with the Dow Jones down 0.05%, the S&P 500 up 0.51%, and the Nasdaq Composite up 1.02%. The Nasdaq Golden Dragon China Index fell 0.19% [10] - The Federal Reserve will hold a "Payment Innovation" conference on October 21 to discuss stablecoins, artificial intelligence, and tokenization [11] - A Goldman Sachs executive noted that investor sentiment has significantly improved, indicating further upside potential for the Chinese stock market [12] Group 5 - Apple is reportedly set to launch an AI search feature in Siri next year to compete with OpenAI, and has reached an agreement with Google to evaluate the GEMINI model for the new version of Siri [13] - OpenAI is said to have increased the scale of its second stock sale to $10.3 billion, raising over $4 billion, with a valuation reaching $500 billion [14] Group 6 - Reports indicate that OPEC+ is considering a new round of production increases, leading to a decline in international oil prices, with WTI crude oil futures for October closing at $63.97 per barrel, down 2.47%, and Brent crude for November at $67.60 per barrel, down 2.23% [15] - International gold prices continue to reach historical highs, with spot gold fluctuating around $3,560 per ounce [16]