[Morning News Selection on October 20th] 1. Pan Gongsheng said that he will work with the State Administration of Financial Supervision and the China Securities Regulatory Commission to launch large-amount redemption liquidity support tools for non-bank institutions. 2. Wu Qing said that we should promote the further improvement of the long-term assessment mechanism suitable for long-term investment and expand the sources of medium and long-term funds. It also stated that the penalty rules for illegal holding reductions should be improved, and guidance on advance compensation in the securities market should be formulated and released to better protect the legitimate rights and interests of small and medium-sized investors. 3. Ding Xiangqun stated that all financial activities will be subject to supervision in accordance with the law. We will solidly advance various measures for institutional opening-up in the financial sector and support more foreign-funded institutions and long-term capital to develop businesses in China. 4. Zhu Hexin said that China’s door to opening up is opening wider and wider, and the foreign-related economic structure has undergone profound changes. Taking into account the new needs of enterprises, the State Administration of Foreign Exchange plans to launch a batch of incremental measures to support enterprises to better participate in international cooperation and competition. 5. Eleven departments including the central bank issued a document stating that they will make good use of the social security science and technology innovation fund that has been established to provide financial support for the science and technology innovation field in a stable and orderly manner. 6. The Ministry of Commerce and other three departments will optimize and adjust export control measures for drone-related items. A spokesman for the Ministry of Commerce stated that the drone-related items involved in this measure have obvious dual-use attributes, both military and civilian. China has optimized and adjusted relevant measures in accordance with laws and regulations to safeguard national security and interests and fulfill international obligations such as non-proliferation. 7. The Ministry of Commerce and the General Administration of Customs implement export controls on shield boring machines and other items. A spokesman for the Ministry of Commerce stated that the items related to this measure have obvious dual-use attributes, and China's implementation of export control measures in accordance with laws and regulations is in line with international practice. 8. The China Securities Regulatory Commission issued the "Implementation Rules for Administrative Penalties in Cases of Illegal Transfer of Securities"), which will be effective from December 1, 2026. 9. The reporter learned that the first batch of 18 active ETFs under public offerings in China have been approved and will be launched this Friday. 10. The International Organization for Standardization released the international standard for the brain-computer interface reference architecture led by China: "Information Technology Brain-Computer Interface Reference Architecture". This international standard is another important achievement China has achieved in the field of international standardization of brain-computer interfaces. 11. Recently, Anhui Province issued the "Anhui Province Action Plan for Strengthening Intellectual Property Protection of Advanced Photovoltaic and New Energy Storage Industries (2026-2027)", which implements full-chain protection of intellectual property rights around advanced photovoltaic and new energy storage industries, breaks the "involution" competition in the industry, and empowers the construction of new energy industry clusters in the province. 12. Data from Goldman Sachs’ prime brokerage business unit show that hedge funds have reduced their holdings of technology stocks at the fastest rate in at least a decade. In the five trading days ended October 15, hedge funds reduced their positions in technology stocks by the largest amount since Goldman Sachs began keeping statistics in 2016. 13. Shengyi Electronics announced that it plans to repurchase the company's shares for 100 million to 200 million yuan; Pengding Holdings announced that it plans to repurchase the company's shares for 300 million to 500 million yuan. 14. Xiechuang Data announced that Xiechuang Intelligent Computing, a wholly-owned subsidiary, signed a computing power cloud service agreement not exceeding 37.49 billion yuan. 15. Three Gorges New Materials announced that it plans to acquire 100% equity of Zhuhai Saiwei, a lithium battery electrolyte company. 16. Haiguang Information announced that its net profit in the first three quarters increased by 45.12% year-on-year; Shanshui Technology announced that its net profit in the third quarter increased by 17.05% year-on-year; its operating revenue in the first three quarters increased by 17.65% year-on-year. 17. The Houthi armed forces in Yemen stated on the 19th that they had carried out six military operations against Saudi Arabia in the past 48 hours. 18. Iranian President Pezeshchiyan met with Russian Foreign Minister Lavrov on the evening of the 19th local time. The two sides discussed bilateral relations as well as the latest regional and international situations. 19. Trump told the media at the White House on the afternoon of the 19th local time that he believed someone other than Ukrainian President Zelensky should negotiate on behalf of Ukraine to seek an end to the war with Russia. 20. NVIDIA completed a record-breaking simulation of fault-tolerant quantum computing at the Jülich Supercomputing Center. This 104-qubit simulation is the most comprehensive simulation of a fault-tolerant quantum computing system to date. 21. Micron Technology announced that it will hold a technical webinar at 8 a.m. local time on the 21st to discuss technological innovations in the fields of DRAM, HBM and NAND. 22. Apple has confirmed that it will hold a new product launch conference on the 28th, when it plans to launch the company's first touch-screen MacBook. 23. According to people familiar with the matter, Nscale Co., Ltd. is negotiating with Anthropic to cooperate in computing power supply. The total value of this transaction is expected to reach approximately US$45 billion. 24. The three major U.S. stock indexes closed with mixed gains. The Dow fell 0.07%, the Nasdaq rose 1.11%, and the S&P 500 rose 0.41%. Popular technology stocks generally rose, with storage and semiconductor sectors leading the gains. SanDisk rose more than 5%, Amazon rose nearly 5%, SK Hynix and Marvel Technology rose more than 4%, and Tesla and NanoVis Semiconductor rose more than 3%. 25. The settlement price of the November contract of WTI crude oil futures increased by 2.22%, and the settlement price of the December contract of Brent crude oil futures fell by 0.28%. COMEX gold futures closed down 0.5%, and COMEX silver futures fell 0.13%.