Spot gold briefly fell $16 to $4,275.85/oz.

Exclusive industry-sourced data: 14 Chinese wealth managers each with >CNY1trn AUM (6 from state-owned banks, 8 from joint-stock banks), representing roughly 80% of the market, held CNY27.4trn in outstanding assets at end-Aug and recorded >CNY280bn net inflow MoM. The Banking Wealth Management Registration and Custody Center put end-June market outstanding at CNY33.66trn; adding the 14 firms’ July and August inflows (CNY1.46trn and CNY0.28trn) implies a market size near CNY35.4trn. Jan–Aug net increase for these 14 firms was about CNY1.96trn. By product type, option-embedded products rose ~CNY1.98trn, non-cash pure-bond products rose ~CNY176bn, and cash products contracted by >CNY180bn.

The National Medical Products Administration approved on the 14th China’s third brain-computer interface medical-device standard and the world’s first BCI medical-device standard that uses AI to process EEG data. The standard takes effect Sept. 1 next year.