Nov. 3 — Chinese automaker Geely officially launched its new-generation methanol-electric hybrid system, the first hybrid powertrain capable of simultaneously using methanol, gasoline and electricity.

China's central bank said it will raise the foreign-currency deposit reserve ratio by 2 percentage points to 6% from 4%, effective November 15, 2026. China Minsheng Bank chief economist Wen Bin said a large trade surplus and sustained corporate foreign-exchange conversion demand have been the main drivers of recent renminbi appreciation. The PBOC said the move will freeze roughly $20-25 bln of foreign-exchange liquidity at banks, help rebalance onshore FX supply and demand, curb one-sided renminbi appreciation expectations and stabilise the foreign-exchange market.

TASNIM NEWS: Iran's armed forces chief of staff said Tehran seeks recognition of its sovereignty over the Strait of Hormuz and aims to replace the U.S. "security umbrella" by other means.