European Commission Executive Vice‑President Dombrovskis said the economy faces uncertainty and downside risks.

China NBS: In October, food, tobacco and dining-out prices fell 1.6% YoY, subtracting about 0.48 percentage points from CPI. By item: fresh vegetables -16.9% YoY (‑0.31pp contribution to CPI); fresh fruit -3.8% YoY (‑0.07pp); livestock meat -2.7% YoY (‑0.11pp), with pork down 8.6%; eggs +10.1% YoY (+0.05pp). Of seven other major categories, six rose and one fell: transportation & communication +5.5% YoY, healthcare +2.4%, other goods & services +1.8%, education/culture/recreation +1.5%, clothing +1.1%, household goods & services +0.2%, housing -0.3%.

CITIC Securities in its 2027 telecom strategy report says large-model commercialization expands rapidly in 2026; as of end‑September 2026 OpenAI and Anthropic had combined ARR of about $124 bln. North America’s four major cloud service providers reported combined capex of roughly $208.7 bln in Q3 2026, up 84.2% YoY, signalling continued high-intensity AI infrastructure investment. The report warns recursive self-improvement (RSI) could drive step-changes in model capability. AI demand is broadening: AI-assisted programming shows a clearer commercialization path, while design, modeling/simulation, AI4Science and robotics expand longer-term compute demand. CITIC Securities remains optimistic and keeps a long-term preference for North American compute exposure and the domestic Chinese AI compute supply chain.