The CPC Central Committee and State Council issued Opinions on Developing New-Quality Productive Forces, directing an active energy revolution tied to China’s carbon peak and carbon neutrality targets and calling for the orderly development of advanced nuclear fission energy. Policy priorities include building a high-share renewable power system, improving renewable curtailment and dispatch rules, launching major application demonstration and rollout projects, accelerating the greening of indust

Guan Tao, chief economist at Huafu Securities, said on Oct. 9 that since the RMB hit a trough vs the dollar in mid-April last year it has strengthened to about 6.70 per USD, a cumulative appreciation of roughly 10% from the low. He attributed the move to firm exports, trade-surplus-driven FX supply and stronger market confidence as the economy shifts toward higher-quality growth. The yuan has appreciated in both bilateral and effective terms: BIS nominal and real effective exchange rates rose 4.7% and 7.4% from May last year to Aug this year. China’s export price index averaged 105.32 in the first eight months of the year, implying average YoY export price gains above 5%, which increases the price contribution to export growth and further confirms that recent trade gains reflect improved industrial international competitiveness.

A-share retail sector re-rallied in the afternoon; Baida Group hit limit-up, Guofang Group and Huijia Times had earlier hit limit-up, and Guoguang Chain, Xinhua Department Store and Dongbai Group were among the top gainers.