[Selected morning news on November 12] 1. Foreign Minister Wang Yi had a phone conversation with US Secretary of State Rubio on the 11th. The two sides had an in-depth exchange of views on Sino-US relations and the interaction between the two heads of state. The phone call was positive and constructive. 2. Foreign Ministry Spokesperson Guo Jiakun hosted a regular press conference yesterday. A Reuters reporter asked: U.S. lawmakers on Tuesday once again called for tightening restrictions on China's acquisition of advanced artificial intelligence (AI) chips after relevant accusations involving Nvidia CEO Jensen Huang emerged. Guo Jiakun said that China’s position on the issue of US chips exported to China is consistent. 3. The central bank released China’s monetary policy implementation report for the third quarter of 2026, which mentioned that it will step up efforts to implement two monetary policy tools to support the capital market, make good use of non-bank large redemption swap facilities in the bond market, and maintain the smooth operation of financial markets such as stocks, bonds, and foreign exchange. 4. We learned from the State Administration of Taxation that the transition period for offshore trust income taxation policies has ended smoothly. The vast majority of taxpayers have actively cooperated and declared a total of more than 160 billion yuan in offshore trust personal income tax, of which more than 120 billion yuan was entered into the treasury in October, driving the national personal income tax revenue to increase by nearly 90% in October. 5. Recently, it was reported that the price of high-end graphics cards has fluctuated violently recently, with the price of some models falling from 18,000 yuan/card a month ago to the current 14,000 yuan/card. Many merchants who specialize in graphics card products have denied the statement that "high-end graphics card prices have fluctuated significantly", saying that the large fluctuations are not true and are just continuous adjustments in recent times. 6. It is rumored that some leading storage companies have verbally informed channel vendors of their price increase intentions for enterprise-level chips. Based on feedback from multiple parties, it was learned that the official prices of original manufacturers did show a slight increase in the fourth quarter, but the models involved were still mainly enterprise-level storage, and there was no clear signal of simultaneous increases in consumer-level products. 7. Satellite Chemical announced that it plans to invest approximately 20.7 billion yuan in the construction of propylene and downstream high-end new material projects. 8. Ingenic announced that the demand for DRAM is currently strong and production capacity is very tight. The company has completed price adjustments for most customers based on cost and market conditions. There is still the possibility of price increases for some materials in the future. 9. The order for m9 was canceled by Nvidia due to quality issues? Shengyi Technology stated on the interactive platform that it has not received any notice of order cancellation from any terminal. The current production and operation conditions are normal and orders are full. 10. Zhuhai Duty Free Group announced that its planned acquisition of the remaining 49% equity of the duty-free company is expected to constitute a major asset reorganization and the stock trading will be suspended. 11. China Shipbuilding Industry Corporation announced that its wholly-owned subsidiary Dalian Shipbuilding and China Shipbuilding Industry Corporation signed a construction contract for a total of 20 307,000-ton VLCC crude oil tankers with a total value of approximately 17.2 billion yuan. COSCO Shipping announced that it plans to commission the construction of 16 307,000-ton VLCC crude oil tankers for 13.425 billion yuan and carry out leasing business. 12. Tered announced that it has signed a centralized procurement contract for the power shelter of the computing power center with Internet Company A. The total contract amount is estimated to be 250 million yuan, and the company is responsible for the overall integration and complete delivery. 13. U.S. technology stocks rose sharply, with the Nasdaq 100 Index closing up 2.28%, the Nasdaq Composite Index closing up 1.6%, the Dow Jones Index closing up 0.49%, and the S&P 500 Index closing up 1.31%. AI-related sectors surged, with CoreWeave rising by over 24%, SanDisk rising by over 13%, Micron Technology rising by over 11%, and Hynix rising by over 9%. 14. It is reported that Nvidia is preparing to remove CEO Jensen Huang. Nvidia's board of directors is preparing to hold a meeting as early as Wednesday local time. 15. U.S. President Trump is said to be open to Vice President Vance resuming negotiations with Iran. 16. Anthropic’s underwriters are considering raising the valuation target for the IPO to as low as $1.5 trillion. 17. SemiAnalysis, a semiconductor research organization, stated that SpaceX plans to purchase chip packaging directly from NVIDIA and purchase the remaining components by itself, thus skipping NVIDIA's L6 computing board, PCB, connectors, power supply, and heat dissipation, and changing from "NVIDIA specified" to "SpaceX's choice."