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NEWS IN CHINA

• PBOC Unveils 2026-2030 Financial Reform and Development Plan: The People’s Bank of China (PBOC) has released its 2026-2030 reform and development plan, outlining measures to strengthen the financial sector and enhance the central banking system. The plan calls for advancing financial opening-up, expanding the international use of the renminbi in trade, investment and financing, and increasing access between domestic and international financial markets. It also aims to strengthen the Cross-Border Interbank Payment System, develop offshore renminbi markets, and accelerate efforts to build Shanghai into an international financial centre while enhancing Hong Kong’s role as a global financial centre. The plan also focuses on improving the monetary policy framework, refining the monetary supply system and making better use of monetary policy tools. It further calls for stronger market-based interest rate mechanisms and allowing the market to play a greater role in determining exchange rates while maintaining broad renminbi stability. The plan emphasises financial stability through stronger monitoring and measures to reduce systemic risks. In addition, it aims to improve financial support for technological innovation, green and low-carbon financing, inclusive finance, pensions and digital finance, to support high-quality economic development.
  
  
• Chinese Maritime Court Mediates Settlement in Strait of Hormuz Ship Collision Case: A Chinese maritime court has resolved a dispute between two foreign-owned vessels following a collision near the Strait of Hormuz through judicial mediation. The Guangzhou Maritime Court in Guangdong Province handled the case under the guidance of China’s Supreme People’s Court. The dispute involved the Antigua and Barbuda-flagged vessel “Adalynn” and the Liberia-flagged “Front Eagle,” with claims totalling 180 million yuan. The collision occurred in June 2025, and the case was brought before the court after “Adalynn” sought an order to arrest “Front Eagle” while it was undergoing repairs in Shenzhen. Both parties agreed to the jurisdiction of the Chinese court and selected Chinese law for resolving the dispute. The court conducted four pretrial meetings and a public hearing, using maritime technical investigators to help establish the facts of the incident. After reconstructing the collision and determining liability, the court helped the parties settle. The court later organised the distribution of the liability fund.
  
  
• Cybersecurity Authorities Investigate AI-Generated Online Disaster Rumours: China’s cybersecurity authorities have announced several cases involving the creation and spread of false information related to floods and disasters. The cases involved individuals using artificial intelligence tools and other methods to produce misleading content online, including altered government notices and fabricated disaster reports. A total of 15 cases were disclosed as part of efforts to address illegal activities involving disaster-related misinformation that could affect public order. Some individuals used AI to modify official typhoon safety notices or create false announcements about school closures, workplace shutdowns and other emergency measures. Others generated misleading videos and stories to attract online attention, including false claims about incidents during typhoons and flooding. Authorities also identified cases where people created entirely false disaster stories or edited unrelated online footage to present fake emergencies. Local public security authorities imposed administrative penalties on those involved in the disclosed cases according to the law. The authorities also highlighted that some fake posts affected public discussions and disaster relief operations.
  
  
• China Allocates Emergency Funds for Typhoon Dolphin Disaster Relief: The Chinese government has allocated emergency funding to support disaster relief and recovery efforts in areas affected by Typhoon Dolphin and severe flooding. The National Development and Reform Commission (NDRC) allocated 200 million yuan from the central budget to Zhejiang province, mainly for the emergency restoration of damaged infrastructure, including roads, water conservancy facilities, schools and hospitals. Typhoon Dolphin made two landfalls in Zhejiang province, first in Yuhuan and later in Yueqing. The Ministry of Water Resources maintained a Level-III emergency response in Zhejiang and Level-IV responses in six other provincial-level regions. Local authorities were instructed to strengthen monitoring, patrols and flood prevention, particularly along small and medium-sized rivers and in areas vulnerable to mountain torrents. The Ministry of Finance and the Ministry of Emergency Management also allocated 180 million yuan from the central natural disaster relief fund. Of this amount, 120 million yuan will support emergency response and rescue efforts in Jiangsu, Zhejiang, Anhui, Fujian and Jiangxi, while the remainder will address drought conditions in Inner Mongolia and Xinjiang.
  
  
• ​Ministry of Commerce Issues Preliminary Anti-Dumping Ruling on Pecan Imports from Mexico and the US: China’s Ministry of Commerce has issued a preliminary ruling in its anti-dumping investigation into pecan imports from Mexico and the United States. It found that the products were sold in China at low prices, causing loss to domestic producers. The investigation began on September 25, 2025, and was conducted under China’s anti-dumping laws and World Trade Organisation rules. The ministry said the probe followed principles of fairness, impartiality, openness and transparency. China has decided to impose provisional anti-dumping measures. The preliminary ruling set dumping margins for Mexican companies between 17.8 per cent and 51.6 per cent. As no US companies participated in the investigation, a dumping margin of 54.3 per cent was set for all US companies in accordance with Chinese laws and WTO rules. The ministry said China uses trade remedy measures cautiously and remains committed to fair and free trade. It will continue the investigation in accordance with the law, protect the rights of all interested parties, and issue a final ruling based on the investigation results.
  
  

SOCIAL MEDIA CHATTER

Weibo Users React to Chinese Bamboo-Based Packaging Innovation: A post on Weibo discussing the development of bamboo-based materials as an alternative to plastic packaging has attracted widespread attention online. The post highlighted efforts by researchers to transform bamboo fibres into new environmentally friendly materials. According to the post, bamboo, which was traditionally used mainly for products such as furniture, is now being processed through advanced technologies that combine bamboo powder with fully biodegradable plastics to create new environmentally friendly materials. The post received positive reactions from the online community. One user said, “This is a good thing. Uncontrolled bamboo forests and bamboo seas will be ecological disasters. It is absolutely a good thing to have an industry that can digest bamboo.” Another user commented, “This is not only environmentally friendly but also gives priority to the use of surplus resources in nature, which is worth vigorously advocating.” Other users praised the innovation, saying it represents progress in green research and development, promotes environmental protection and helps modernise the traditional bamboo industry. Some users also noted that bamboo’s rapid growth could provide a stable source of raw materials.

INDIA WATCH

​Guancha Discusses Challenges in India’s Plan to Build a Rare Earth Magnet Industry: An article on Guancha discussed India’s plan to invest 72.8 billion rupees to develop a domestic rare earth magnet industry. It highlighted concerns from companies over whether the current subsidy model can create globally competitive enterprises. The article mentioned that India’s plan focuses on supporting a small number of companies to build complete production chains, but some industry executives argued that this approach may limit economies of scale compared with China’s larger and more specialised production system. It emphasized that India faces challenges including limited rare earth refining capacity, dependence on imported raw materials, and shortages of specialised production equipment. The article argued that although India has the world’s third largest rare earth reserves, its ability to process materials into oxides, metals, alloys and magnets remains limited. It underscored that companies also face difficulties in securing technology, funding and stable customers, with some smaller firms unable to meet subsidy requirements. It noted that industry executives believe India must ensure reliable customers, including domestic parts manufacturers, once local magnet production begins. They argued that even if Indian-made magnets initially cost more than those from Chinese suppliers, domestic industries should still support local supply chains.