China imposed temporary controls on refined fuel prices to cushion the impact of surging global oil costs, with gasoline and diesel prices effectively raised by 1,160 yuan and 1,115 yuan per ton, respectively, below the calculated increases of 2,205

Key News 1. PBOC Governor Pan Gongsheng: Utilize various tools to maintain ample liquidity. 2. Two departments: Raise the macro-prudential adjustment coefficient for domestic enterprises' overseas lending from 0.5 to 0.6. 3. CSRC and five other departments: Promote coordinated development of the capital market and support the entry of medium- and long-term funds into the market. 4. National Internet Emergency Center and others release OpenClaw secure usage practice guidelines. 5. Cyberspace Administration of China guides website platforms to comprehensively standardize short video content labeling. 6. 250 billion yuan to support consumer goods trade-ins; the Ministry of Finance will increase the力度 of inclusive policies directly reaching consumers. 7. MIIT Minister Li Lecheng: Promote breakthroughs in quantum technology, biomanufacturing, hydrogen energy and nuclear fusion energy, brain-computer interfaces, embodied intelligence, 6G, and other fields. 8. National Development and Reform Commission and Ministry of Agriculture and Rural Affairs hold a symposium for pig farming enterprises. Individual Stock News 1. Taking advantage of the gold price correction, Zijin Mining spends 18.2 billion yuan to acquire control of Chifeng Gold. 2. Zijin Mining: Net profit of RMB 51.777 billion in 2025, a year-on-year increase of 61.55%; plans to repurchase shares worth RMB 1.5 billion to 2.5 billion. 3. Shuangliang Energy Conservation: Due to the release of misleading information involving SpaceX-related overseas orders, the company and its controlling shareholder are each subject to a fine of RMB 4 million. 4. Sinopec: Net profit of RMB 31.809 billion in 2025, a year-on-year decrease of 36.8%. 5. China Shenhua's RMB 100 billion restructuring completed; annual coal production expected to increase by 56.57%. 6. AMEC: To accelerate the development of its memory chip business, it plans to invest RMB 160 million to acquire a 20% stake in Zhuhai Boya. 7. Litong Electronics: Rumors that Liao smuggled NVIDIA AI servers and sold them to the company are untrue. 8. Intercontinental Oil & Gas: A wholly-owned subsidiary signed a major contract worth US$225 million. 9. Wondfo Biotech and IFCC reach cooperation to jointly promote the development of global laboratory medicine. 10. Xuefeng Technology: Its controlling shareholder, Guangdong Hongda, plans to increase its stake in the company by 150 million to 300 million yuan. 11. Shougang Group and FAW Group have successfully collaborated on the research and development of 2.4GPa-grade ultra-high-strength hot-formed steel.

The market has fully priced in the expectation that the Bank of England will raise interest rates four times in 2026, each time by 25 basis points.