Daily Buzz: 11 November 2025

China Tightens Controls on Fentanyl Chemicals

China tightened export controls on drug-related precursor chemicals, including more than a dozen used to make fentanyl. The Ministry of Commerce said the new policy requires export licenses for 13 chemicals shipped to the US, Mexico and Canada. The listed substances include several piperidine derivatives and other compounds commonly used in producing fentanyl, a potent synthetic opioid driving overdose deaths in the US from black market sales. The move signals Beijing's renewed effort to curb illicit fentanyl production and trafficking, following commitments made during a recent meeting between presidents Xi Jinping and Donald Trump.

China, US Suspending Reciprocal Port Fees

China said it is suspending docking fees for US vessels at its ports for a year. The US is in the process of postponing its fees on Chinese-linked vessels at its ports for the same period. The reciprocal pullbacks are part of the trade agreement reached by Chinese President Xi Jinping and US President Donald Trump at a summit last month. The US has also suspended an investigation into China's shipbuilding industry, with China pausing a reciprocal probe. The US triggered the shipping dispute after Trump announced he wanted to end Chinese dominance in the global industry. The US port fees contributed to a 16.3 percent drop in container shipments from China in October.

China International Import Expo Posts Record Deals

Chinese companies signed a record US$83.5 billion in preliminary import deals with foreign suppliers at the China International Import Expo, which ended yesterday in Shanghai. It was the fifth consecutive record for the annual trade fair, the largest of its kind in the world. Analysts said the recent China-US trade deal improved buyer and seller sentiment at the event.

US Government Shutdown Poised to End

The longest US government shutdown in history moved toward an end after the Senate approved stopgap funding through the end of January. A handful of Democrats broke a long-running impasse by bucking their party to support a Republican plan, even though it failed to deliver a continuation of healthcare subsidies at the heart of the stalemate. Lawmakers who supported the plan were said to be keenly aware of rising constituent anger over the shutdown, which has led to the cancellation of thousands of flights because air controllers, like nearly 1.5 million other federal employees, haven't been paid in more than a month. The House still has to approve the Senate plan. Analysts warn Congress could find itself back in the same gridlock early next year when the funding expires.

Top Business

China's Softcare Surges in Hong Kong Debut

Shares in Chinese hygiene-products maker Softcare, the leading supplier of baby diapers in Africa, closed up 26 percent from their offer price in their trading debut in Hong Kong on Monday. The HK$2.4 billion (US$306 million) IPO attracted strong investment interest, with the retail portion, which comprised about 10 percent of shares on offer, 1,813.77 times oversubscribed, the South China Morning Post reported. Softcare, whose products also include sanitary pads, baby pants and wet wipes, is a popular brand in emerging markets. Last year in Africa, it ranked first in sales of diapers and sanitary pads. The company, which reported 2024 profit of US$91 million on revenue of US$454 million, said it will use the proceeds from the share sale to expand production capacity and its overseas sales network.

Tesla Sales in China Slump to 3-Year Low

Tesla sales in China in October dropped 36 percent from a year earlier to 26,000, the lowest in three years. That followed sales of 71,525 in September on deliveries of the carmaker's new, longer six-seater Model Y L, which is available only in China. Tesla's share of the competitive mainland car market, its second-largest, was 3.2 percent in October. However, exports of Tesla from the company's mega-factory in Shanghai in the month rose to a two year high of 35,490, according to the China Passenger Car Association.

Economy & Markets

Mainland Stocks Rebound on Consumer, Liquor Shares

Chinese mainland stocks rebounded on Monday on consumer and liquor shares. The Shanghai Composite Index rose 0.53 percent and the main Shenzhen index added 0.18 percent, but the tech startup-oriented ChiNext in Shenzhen lost 0.92 percent. Volume on the exchanges totaled 2.27 trillion yuan (US$319 billion), up 175.4 billion yuan from the previous session. Food and beverage stocks led the rallies. Lithium battery and solar energy shares also strengthened, though humanoid robot concept stocks weakened. Meanwhile, funds from mainland investors bought HK$6.65 billion (US$855 million) of Hong Kong shares through the Stock Connect program, helping lift the Hang Seng Index 1.6 percent. Elsewhere in Asia, Japan's Nikkei rose 1.3 percent.

Gold Jewelry Demand Flags, Bullion Sales Up

Demand for gold jewelry in China, the world's biggest market for the precious metal, tumbled nearly 33 percent in the first six months of the year, according to the China Gold Association. However, demand for gold bars and coins rose 25 percent. Global gold prices have risen by about 45 percent this year, making jewelry more expensive but increasing the stored value of bullion bars and coins. On the supply side, domestic gold production rose 1.4 percent.

China Forex Reserves Rise to 9-Year High

China's foreign-exchange reserves in October rose to their highest level in nine years, adding US$4.7 billion to stand at US$3.3 billion. It was the third month of increase. The State Administration of Foreign Exchange credited the latest gain to asset price rises and changes in currency-exchange rates. China added 30,000 ounces of gold to its reserves in October, taking the total to 74 million ounces.

China Box Office Shoots Past 2024 Total

China's movie box office receipts to date this year have exceeded 45 billion yuan (US$6.3 billion), according to industry tracker Beacon. The three highest-grossing films are all domestic productions: the animated fantasy "Ne Zha 2," the comedy-mystery "Detective Chinatown 1900" and the historical war film "Dead to Rights." Total box office for 2024 was about 42.5 billion yuan.

Corporate

TSMC Chip Sales Growth Slows

Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, reported slower monthly sales amid some industry concerns about the short-term sustainability of growth in artificial intelligence technologies, Bloomberg News reported. The company said sales in October rose 17 percent, their slowest pace since February 2024. Still, some clients are clamoring for more chips. Nvidia Chief Executive Jensen Huang said on Sunday that he asked TSMC for more supplies of semiconductors amid strong demand for the building blocks of AI systems.

Honor to Unveil Robot Phone in 2026

Shenzhen-based consumer electronics maker Honor Device, a former sub-brand of Huawei, said it will release its new robot phone next year, featuring AI, capabilities, embodied intelligence and an HD camera. The company announced earlier this year that it would invest US$10 billion over five years to build an AI terminal ecosystem. Honor makes phones, tablet computers, wearable devices and mobile software.

Framatome Signs China Nuclear Deals

Framatome, a French manufacturer of nuclear steam supply systems, said it secured multiple orders from China National Nuclear Corp and China General Nuclear Power Group at the China International Import Expo in Shanghai. The agreements cover fuel, control system components and technical services. No details of the value of the contracts were made public.

Framatome is a subsidiary of France's EDF, the world's largest nuclear power operator.