The All-China Federation of Industry and Commerce on Sept 9 released its 2026 report on the top 1,000 Chinese private firms by R&D spending, showing 2025 R&D outlays rose 10.72% YoY to 1.59 tln yuan and average R&D intensity reached 3.73%. 640 firms in the sample were classified as high-tech, high-value, high-growth. The cohort’s aggregate scale was stable, aggregate profits increased, and headcount rose in both size and quality.

BlackRock strategists say intensified capital competition means Japan’s rate reset is spilling across borders. They outline a bond-market feedback loop: rising U.S. rates could weaken the yen and pressure the Bank of Japan to act sooner; higher Japanese yields could pull capital home, reducing demand for U.S. Treasuries and raising U.S. borrowing costs. Decades of ultra-low domestic yields made Japan a major capital exporter; Japanese holders now own about $1.1trn of U.S. Treasuries. A 5% repatriation would be roughly $55bn — about one-quarter of last year’s foreign net purchases of U.S. Treasuries.

cenc preliminarily recorded a magnitude-4.2 earthquake at 06:32 on Sep 9 off Yilan County, Taiwan; final magnitude subject to formal bulletin.