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Real-time News
On February 3rd, Li Xunlei, chief economist of Zhongtai Securities, recently shared his views on the impact of the housing and stock markets on consumption and key policy areas. He pointed out that rising housing prices can effectively boost consumption, while a bull market in stocks has a less significant effect on consumption. Li Xunlei analyzed that while it is often believed that a rising stock market will create a wealth effect, thereby promoting consumption, the actual impact is limited. Although the total number of stock accounts is approximately 130 million, the number of active accounts is only around 70 million, which is not high relative to my countrys population of 1.4 billion. In contrast, the housing market accounts for about 60% of total household assets and is linked to 20 to 30 upstream and downstream industries, with a long industrial chain and a significant multiplier effect. Therefore, once the housing market recovers, its impact on consumption and the overall economy is more pronounced. Li Xunlei emphasized that to achieve stable development of the housing market, fiscal and monetary policies must work together to provide strong support.European Commissioner Albuquerque: Europe must maintain control over the key technologies that underpin our economy.February 3rd - Hong Kong stocks opened slightly higher but then weakened throughout the day before recovering somewhat. At the close, the Hang Seng Index rose 0.22%, while the Hang Seng Tech Index fell 1.07%. Optical communication stocks rose, with Huiju Technology (01729.HK) surging nearly 13% and Yangtze Optical Fibre and Cable (06869.HK) rising over 12%. Gold stocks rallied sharply in the afternoon, with Chifeng Gold (06693.HK) and Zijin Mining International (02259.HK) both rising over 7%. Power equipment stocks strengthened, with Harbin Electric (01133.HK) rising nearly 9%. Chip stocks rebounded, with GigaDevice (03986.HK) and ASMPT (00522.HK) both rising over 4%. In addition, non-ferrous metals, building materials and cement, heavy machinery, commercial aerospace, photovoltaic solar energy, logistics, and home appliances also saw gains throughout the day. Leading tech stocks have been declining for several days, with Kuaishou (01024.HK) falling over 4% and Baidu (09888.HK) dropping over 3%. In contrast, MINIMAX-WP (00100.HK) has been rising for several days, gaining over 10% intraday, while Zhipu (02513.HK) has risen over 8%.On February 3, the Ministry of Industry and Information Technology and eight other departments issued a notice regarding the "Guidelines for the Security of Cross-border Transfer of Automotive Data (2026 Edition)." Experts also stated that the "Guidelines for the Security of Cross-border Transfer of Automotive Data (2026 Edition)" applies to the provision of automotive data by automotive data processors to entities outside of my country, specifically encompassing three categories. The first category involves automotive data processors transferring data collected and generated during their operations in China to entities outside of China. The second category involves data that exists domestically but can be accessed, retrieved, downloaded, and exported by overseas institutions, organizations, or individuals. The third category includes other activities that comply with the relevant provisions of the "Personal Information Protection Law of the Peoples Republic of China," specifically processing the personal information of domestic natural persons overseas.On February 3, the Ministry of Industry and Information Technology and eight other departments issued a notice on the "Guidelines for Cross-border Data Security of Automobiles (2026 Edition)". Automobile data processors must submit data export security assessments through their domestic legal entities. If there is no domestic legal entity, the application should be submitted by its domestic branch. If multiple domestic subsidiaries belong to the same group company (parent company) and have similar data export business scenarios, the group company (parent company) can submit a joint application as the applicant. Data that should pass security assessments cannot be provided overseas through methods such as splitting data or entering into standard contracts. Automobile data processors must conduct self-assessments of data export risks and rectify any risks in accordance with the "Measures for Data Export Security Assessment", the "Regulations on Promoting and Regulating Cross-border Data Flow", and the "Guidelines for Data Export Security Assessment Application (Third Edition)", and submit application materials to the Cyberspace Administration of China. Automobile data processors that pass the data export security assessment can conduct data export activities; if situations arise that affect the security of exported data, a new assessment application must be submitted.
