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September social financing exceeds expectations
China’s credit growth beat expectations in September, fueled by a surge in government bond issuance, even as new bank lending undershot forecasts. Total social financing — a broad measure of credit that includes bank loans, bonds, and off-balance-sheet financing — climbed to 3.5 trillion yuan ($495 billion) last month, according to the People’s Bank of China. It topped the 3.3 trillion-yuan average forecast in a Caixin survey of economists.
China’s consumer prices continue to decline
China’s consumer prices fell year-on-year in September, though the decline narrowed, while factory-gate deflation eased for a second straight month. The consumer price index (CPI) dropped 0.3% year-on-year last month, a smaller contraction than the 0.4% decline in August, data from the National Bureau of Statistics showed Wednesday. The reading was slightly weaker than the average forecast of a 0.2% decline in a Caixin survey of economists. The producer price index, a gauge of factory-gate costs, fell 2.3% from a year earlier, narrowing from a 2.9% drop in August.
Gold prices soared to record levels this week as investors rushed to hedge against macroeconomic uncertainties and speculated about an imminent U.S. interest rate cut. On Wednesday, London spot gold surged past $4,200 per ounce for the first time, closing at $4,218.10. The metal had broken through both the $4,100 and $4,200 thresholds within a mere five days.
Trump threatens to halt Chinese cooking oil imports
U.S. President Donald Trump threatened not to buy Chinese cooking oil in retaliation for what he claimed was China’s deliberate refusal to buy American soybeans. In response, the Chinese foreign ministry said that trade wars and tariff wars have no winners and that both sides should resolve issues through negotiations based on equality, respect and mutual benefit.
Apple CEO promises more investment in China
Minister of Industry and Information Technology Li Lecheng met with Apple CEO Tim Cook in Beijing. Li said he hoped Apple would continue to deepen its presence in the Chinese market and collaborate on innovation with local companies. Cook stated that Apple will continue to increase its investment in China.
Beijing aims to double EV charging capacity by 2027
Two government bodies issued a notice to expand the nation’s electric-vehicle (EV) charging network. The goal is to build 28 million charging facilities nationwide by the end of 2027 to meet the needs of over 80 million EVs, effectively doubling charging service capacity.
Chinese firm breaks through in semiconductor equipment
China’s semiconductor equipment industry marked a new milestone with the Wednesday debut of an ultra-high-speed oscilloscope that its developer says breaks foreign technological barriers.
OpenAI to permit adult content
OpenAI announced that starting in December, it will allow adult content for verified adult users. Its CEO suggested that for mentally healthy users, content restrictions reduce the model’s utility and enjoyment. The company will also launch a new version of ChatGPT in a few weeks, though details on its pricing and format are not yet clear.
News Summary
Domestic
China’s exports of new-energy vehicles (NEVs) surged 89.4% year-on-year to 1.76 million units in the first nine months of 2025, with BYD Co. Ltd. accounting for nearly 40% of shipments.
AMD has secured a large order from Oracle for its new AI chips, with Oracle planning to deploy 50,000 units starting next year.
International
The EU is reportedly planning measures that could compel Chinese companies to transfer technology to their European counterparts.
The Philippines will resume issuing electronic visas to Chinese citizens starting in November.
The IMF has raised its global economic growth forecast for 2025, though it noted that the future outlook remains dim.
