Daily Buzz: 5 November 2025

China International Import Expo Opens Today in Shanghai

The China International Import Expo, the largest trade show of its kind in the world, opens for its eighth year in Shanghai today, drawing a record participation of 4,108 companies from around the world. Underscoring the importance of the event, Chinese Premier Li Qiang will deliver a keynote address at the formal opening. The exhibition affords China the opportunity to show the world its commitment to free trade, encourage foreign investment and showcase new products and services.

The first seven expos together generated trade deals valued at US$500 billion. It will feature the debut of 460 new Chinese products and technologies in frontier industries, including humanoid robots. The six-day trade show will be staged in an area equivalent to 60 soccer fields at the National Exhibition and Convention Center (Shanghai).

China launched the show in 2018 to dispel criticism from the US and other countries that its domestic markets weren't open wide enough to foreigners. A record 430,000 people attended expo last year, and this year's attendance may well surpass that mark. The Hongqiao International Economic Forum will be held in tandem with the trade fair.

China Delivers Tough Verdicts to Family Crime Syndicate

A Chinese court on Tuesday sentenced five members of the Bai family crime syndicate to death and imposed heavy prison terms on more than a dozen others, marking one of the country's toughest rulings against transnational organized crime in recent years. The Shenzhen Intermediate People's Court said the group, led by Bai Suocheng and his relatives, used armed local militias in Myanmar's Kokang region to operate illegal businesses involving telecom fraud, casinos, homicides and drug trafficking. The crimes hauled in more than 29 billion yuan (US$4 billion). Other members of the gang sentences ranging from 3-20 years. The arrests came after China and Myanmar tightened their coordination in combatting the illegal businesses, including cyber-scams that targeted Chinese mainland residents.

US Government Shutdown Ties Record, Election Results Loom

The US government shutdown on Tuesday entered its 35th day, tying the record set during President Donald Trump's first term, with no immediately breakthrough in sight. Democrats and Republicans have been in a stalemate over a measure to fund the federal government, largely centered on health-care insurance subsidies. Public sentiment toward the shutdown and Trump's leadership may be reflected in the results of Tuesday's off-year elections that include a high-profile mayoral contest in New York City, several governors' races and a redistricting referendum in California. Election results are expected this afternoon, Beijing time.

US Court Upholds Property Ban on Chinese Citizens

A US appeals court on Tuesday cleared the way for Florida to enforce a law restricting real estate and land purchases by Chinese citizens, rejecting claims it violates federal law and discriminates against Asians. The ruling could encourage other states to adopt so-called alien land laws, Reuters reported. Lawmakers in more than 30 states have passed or introduced bills restricting foreign property ownership.

Top Business

Chinese Company Earnings Growth Accelerates

Chinese listed companies to date have posted their fastest growth of the year in third-quarter earnings reports, according to China Merchants Securities, led by technology companies Earnings in the period reported so far have risen 11.6 percent from a year earlier, surpassing 1.2 percent growth in the second quarter and a gain of 3.2 percent in the first three months. Among other sector bright spots are commodity producers and financial companies. Positive earnings are underpinning the strong performance this year of mainland stock markets. The brokerage forecast the fastest future growth in technology, media and telecom sectors.

China Urges Dutch Restraint in Nexperia Dispute

China's commerce ministry urged the Netherlands to stop interfering in the internal affairs of Dutch-based semiconductor firm Nexperia, a subsidiary of China's Wingtech Technology, in a continuing dispute that threatens the orderly supply chain of chips used in car-making. The Dutch government seized control of Nexperia in late September, citing national security concerns. In response, China blocked exports of chips from Nexperia's plant in the southern Chinese city of Dongguan, and the Dutch parent halted shipments to Dongguan of wafers used to make chips. The ministry said on Tuesday that China granted exemptions on chip exports on November 1, saying the action demonstrated Beijing's responsible stance toward global industry stability.

The dispute stems from a US decision in early September to expand its list of export controls on Chinese companies to include subsidiaries. Wingtech was placed on the blacklist late last year, so the expansion roped Nexperia into those controls, prompting Dutch authorities to take over the company temporarily. The recent trade deal between China and the US put the list expansion on hold. Wingtech acquired Nexperia in 2018.

Tesla Sales of Cars Made in Shanghai Drop

Global sales of Tesla electric cars made at its mega-factory in Shanghai fell 9.9 percent to 61,497 units in October from a year earlier, reversing a 2.8 percent increase in September, according to the China Passenger Car Association. Exports of Model 3 and Model Y vehicles made at the factory dropped a third from September. Tesla has yet to announced when lower-cost versions of its best-selling sedans will be available in China.

Economy & Markets

AI Stocks in New York Slump on Valuation Worries

US stocks, led by AI companies, came off the boil on Tuesday amid warnings about overvaluations. The tech-heavy Nasdaq fell 2 percent after recent rallies to record highs. Software maker Palantir shares shed 8 percent even after its third-quarter earnings beat Wall Street forecasts. The stock was trading at a forward price-to-earnings ratio of more than 200. Oracle and chipmaker AMD both dropped 4 percent, and Nvidia and Amazon also retreated. Anthony Saglimbene of Ameriprise told CNBC that without a pullback, valuations are beginning to get "really stretched." He said investors are starting to ask whether heavy capital expenditure on artificial intelligence by major technology companies is justified by profit growth potential. Investment banks Morgan Stanley and Goldman Saches have issued warnings about a potential market bubble in AI stocks.

China Extends Visa-Free Policy Through 2026

China announced it is extending its visa-free entry policy for 45 countries through the end of 2026. The foreign ministry also said it is adding Sweden to eligible nations, which already include Japan, South Korea, Australia, France, Germany and Spain, among others. Passport holders from the US, Canada and Britain remain excluded. The policy, aimed at reviving tourism after the slump caused by the coronavirus pandemic, allows citizens of designated countries to remain in China for 30 days without needing to obtain a visa. In 2024, more than 20 million foreign visitors entered without a visa, double the previous year.

Separately, China's announcement this week of a resumption in group tours to Canada sent netizens searching for travel packages to Montreal, Toronto and Ottawa, especially for the 2026 Lunar New Year holiday in mid-February. Online travel platform Qunar reported searches have as much as tripled. Tour providers are already preparing an array of group packages catering to specialized interests such as skiing, northern lights viewing and the autumn maple leaf season.

Hong Kong Retains Crown as IPO Leader

Hong Kong remains at the top of the global leaderboard for initial public offerings this year, with US$26 billion raised in share sales through October. The average daily trading volume of the city's stock market has doubled from a year earlier to US$32 billion.

China Steps Up Buying Brazil Soybeans, Purchases Some US Cargoes

Chinese soybean importers have stepped up purchases of Brazilian cargoes in recent days as South American prices eased on expectations that last week's US-China trade deal will lead to a resumption Chinese purchases of US soybeans. Buyers have booked 10 cargoes of Brazilian soybeans for December shipment and 10 for March-July, Reuters reported. Brazilian soybeans are now cheaper than US beans, traders said, while noting that China's agribusiness giant Cofco bought three cargoes of US soybeans last week. Under an agreement between Chinese President Xi Jinping and US President Donald Trump in South Korea, Beijing agreed to resume purchases of some US agricultural products.

Corporate

Zhipu AI Reports Surge in Users

Beijing-based startup Zhipu AI, marketed internationally as Z.ai, reported a 10-fold increase in paid users overseas in the past two months, the South China Morning Post reported. The company said it now has about 100,000 monthly users of its application programming interface and 3 million free chatbot users overseas, following the September launch of its flagship GLM-4.6 open model for coding.

Canmax Sells Stake to CATL

Canmax Technologies, a supplier of battery materials, agreed to sell a stake in the company to client Contemporary Amperex Technology. The deal involves the sale of shares valued at 2.6 billion yuan (US$370 million). CATL, the world's largest maker of batteries for electric cars, will increase its stake in Canmax to 13 percent from 0.6 percent. Canmax is a leading supplier of lithium carbonate and lithium hydroxide.

Lamborghini Shies Away From All-Electric Model

Executives of Italian luxury sports car maker Lamborghini said at an event marking the 20th anniversary of its entry in China that its next-generation Urus model will be a plug-in hybrid rather than a pure electric vehicle. The executives cited a slower-than-expected global acceptance of all-electric vehicles. The company entered the new-energy vehicle market in 2023 with the launch of the Revuelto, a super sports V12 hybrid model and has since delayed the debut of its first all-electric model originally set for 2028. Lamborghini is first sports car manufacturer to decide to convert its entire lineup to hybrids.

Sinopec, LG Chem Link Arms on Battery Materials

Chinese petrochemical giant Sinopec said it is forming a partnership with South Korea's LG Chem to develop key materials for sodium-ion batteries. The two companies will on cathode and anode materials for energy storage systems and electric vehicles.