Japan 30-year government bond yield rose 5.5 bps to 4.125%.

Beijing issued implementation guidance on the national notice to improve the commodity housing sales system, setting transitional pre-sale rules for in-flight projects. First, projects that by Aug. 28, 2026 (inclusive) have obtained (or partially obtained) a construction project planning permit but not a pre-sale permit may apply for pre-sale under existing pre-sale conditions and existing pre-sale funds supervision. Second, projects that by Aug. 28, 2026 have obtained (or are in the process of obtaining) state-owned construction land use rights but lack a construction project planning permit are in principle subject to the new pre-sale management rules for new projects; districts that can guarantee on-time completion may, after filing with municipal authorities and under strengthened pre-sale funds supervision, allow these projects to apply for pre-sale under original pre-sale conditions until end-2027. Third, legacy projects that by Aug. 28, 2026 have obtained state-owned construction land use rights may be handled per in-flight project provisions after district-level risk assessment. The measures aim to ensure a smooth transition for on-going projects.

Sept 22 — Shuozhou Economic Development Zone Management Committee signed a strategic cooperation agreement with BYD Battery to advance zero‑carbon industries and energy‑transport integration. They simultaneously established the Shuozhou Zero‑Carbon Energy‑Transport Integration Industry Innovation Alliance to focus on electric heavy trucks and mining trucks, ultra‑fast charging/replenishment, battery recycling, source‑grid‑load‑storage integration and green power, pooling leading firms, supply‑chain partners and experts to build a demonstration model for industrial‑mining energy‑transport integration in northern Shanxi.