B[Shenzhen’s import and export of integrated circuits and other artificial intelligence-related components ranked first in the country in the first three quarters] On October 19, the Information Office of the Guangdong Provincial People’s Government held a press conference on Guangdong’s import and export situation in the first three quarters of 2026. Liang Danhong, Deputy Commissioner of Shenzhen Customs, said that the rapid growth of Shenzhen’s foreign trade is mainly due to three aspects: First, the upgrading of industrial momentum. Artificial intelligence empowers Shenzhen's industrial development, and foreign trade continues to move from "new" to "excellent". In the first three quarters, the import and export scale of artificial intelligence-related components such as integrated circuits ranked first in the country, contributing more than 60% of the city's foreign trade increase; the total export of Shenzhen's advantageous products such as 3D printers and digital cameras increased by 46.5%, accounting for more than 80% of the country's exports of similar products. The second is the burst of subject vitality. The number of enterprises with import and export records in the city exceeded 70,000, among which private enterprises were the main force in foreign trade. Import and export increased by 49.9%, accounting for more than 70% of the city's scale, and contributed nearly 90% of the city's foreign trade increase. Third, the market landscape is diverse. In the first three quarters, more than 240 countries and regions had economic and trade relations with Shenzhen, and the top ten trading partners all achieved double-digit growth. It is worth mentioning that, as the host city of this year’s APEC Leaders’ Informal Meeting, Shenzhen’s import and export volume to other APEC economies continues to lead the country, reaching a record high in the first three quarters, reaching 3.23 trillion yuan, an increase of 40%. A[Selected midday news on October 19th]
1. As of midday closing, the Shanghai Composite Index rose 0.16%, the Shenzhen Composite Component Index fell 0.18%, and the ChiNext Index fell 1.07%.
2. The National Bureau of Statistics announced the performance of the national economy in the first three quarters of 2026. According to preliminary calculations, the GDP in the first three quarters was 107.1071 billion yuan, a year-on-year increase of 4.6% at constant prices.
3. Data from the National Bureau of Statistics show that in September, the added value of industries above designated size actually increased by 5.5% year-on-year, and the growth rate accelerated by 0.3 percentage points from the previous month. From January to September, the total retail sales of consumer goods was 37,000.1 billion yuan, a year-on-year increase of 1.1%. In the first three quarters, the national fixed asset investment (excluding rural households) was 33,411.5 billion yuan, a year-on-year decrease of 7.2%, which was the same as from January to August. From January to September, the national real estate development investment was 5.3364 billion yuan, a year-on-year decrease of 20.6%
4. Nine departments including the Ministry of Commerce issued opinions on accelerating the promotion of business through science and technology, which mentioned that we should accelerate the promotion of business through science and technology, implement in-depth the "artificial intelligence + manufacturing" special action, and accelerate the transformation of cutting-edge scientific and technological achievements such as brain-computer interfaces and embodied intelligence into the market.
5. The latest round of defense for fund investment advisory qualifications started this week, with dozens of securities firms conducting it in batches. B[National Bureau of Statistics: The "artificial intelligence +" action has effectively boosted investment and exports in emerging fields] On October 19, Wang Guanhua, spokesperson of the National Bureau of Statistics and head of the National Economic Comprehensive Statistics Department, said at a press conference of the State Council Information Office that the "artificial intelligence +" action in the first three quarters has effectively boosted investment and exports in emerging fields. The expansion of artificial intelligence applications has driven continued investment and expansion in the upstream and downstream of the industrial chain. For example, in the first three quarters, investment in electronic circuit manufacturing, integrated circuit manufacturing, and information services increased by 58.7%, 14.2%, and 20.2% respectively. With the support of the "two new" policies, enterprises accelerated their intelligent transformation, driving investment in equipment purchase to increase by 9.7%. At the same time, relying on the advantages of supporting the entire chain, China has quickly launched AI software and hardware products suitable for different scenarios, accurately meeting the needs of overseas markets. In the first three quarters, China's exports of electronic components, wires and cables and other products increased by 70% and 25.3% respectively. Terminal products such as AI glasses and intelligent bionic robots continue to enrich global artificial intelligence application scenarios. B[The latest global AI large model weekly token call list is released: Step 5 Preview ranks among the top three in the world] October 19th, according to the latest data from OpenRouter, the total number of global AI large model calls last week (October 12th to 18th) was 164 trillion Tokens, a month-on-month decrease of 4.65%. Among the large AI models on the list, the weekly use volume of China's large AI models reached 79.18 trillion Tokens, a month-on-month decrease of 8.72%; during the same period, the weekly use volume of large American AI models was 17.36 trillion Tokens, a month-on-month decrease of 8.49%. The number of weekly calls for large models in China has surpassed that of the United States for 25 consecutive weeks, ranking first in the world. The reporter noticed that last week, the top five global calls were all large Chinese AI models. Among them, DeepSeek V4.1 Flash ranked first for two consecutive weeks, with a weekly call volume of 32.8 trillion Tokens, a 20% month-on-month decrease; GLM 5.3 Flash ranked second, with a weekly call volume of 12.2 trillion Tokens; Step 5 Preview rose to third, with a weekly call volume of 11.5 trillion Tokens, a month-on-month increase of 30%. (Daily Economic News) B[Nine departments: Cultivate healthy and standardized robots, virtual digital human companionship and other new intelligent service formats] On October 19th, nine departments including the Ministry of Commerce issued opinions on accelerating the promotion of science and technology business. It mentioned that we should adhere to science and technology for good and cultivate new intelligent service formats such as healthy and standardized robots and virtual digital human companionship. Support the research and development and industrialization of ultra-high-definition audio-visual technology, and promote the application of immersive audio-visual in business districts, culture and entertainment, tourism, education and training and other fields. Use technologies such as artificial intelligence and digital twins to optimize IP R&D and design in the fields of culture, tourism, sports, national trends, historical classic industries, etc., and promote cross-border integration. B[2027 Shanghai Commercial Aerospace Conference scheduled for March 17] "Science and Technology Innovation Board Daily" reported on the 19th that the 2027 Second Shanghai Commercial Aerospace Conference and Exhibition (CACE2027) will be held at the Shanghai World Expo Exhibition and Convention Center from March 17 to 19, 2027. This exhibition will be upgraded to a comprehensive exhibition integrating aviation, aerospace, and Beidou navigation systems. The exhibition area will be expanded to 25,000 square meters, a 67% increase from the first exhibition. It is planned to attract more than 550 companies and 45,000 professional visitors. The exhibition has seven special exhibition areas, covering the entire industry chain of "satellites, rockets, testing, transportation, use, and investment", and focusing on displaying cutting-edge technological achievements such as reusable rockets, satellite intelligent manufacturing, and aerospace AI. (Kechuangban Daily reporter Li Mingming) B[CITIC Securities: Optimistic about the continued rise of large-scale domestic models] On October 19th, CITIC Securities believes that Harness is expected to become a key part of DeepSeek's transformation from model supply to platform ecology, transforming open source and engineering advantages into user base, ecological influence and commercialization capabilities. As Agent competition expands from model capabilities to stable, easy-to-use, and low-cost task delivery, DeepSeek expands user and task coverage through plug-ins, scene presets, and cross-Agent collaboration, and extends Infra's advantages from software and hardware collaboration to complete task execution. Its long-term value lies in the accumulation of demand for ecological expansion, configuration and process precipitation to enhance product stickiness, and traceability capabilities to support security governance, jointly creating conditions for continued use and enterprise deployment. Based on the official model call, the company can also explore platform services and ecological transactions, transform ecological accumulation into more diversified revenue sources, and support product and ecological reinvestment. CITIC Securities is optimistic about the continued rise of domestic large-scale models. A[Morning News Selection on October 19th]
1. Premier Li Qiang chaired an executive meeting of the State Council on the 16th. The meeting pointed out that it is necessary to continuously deepen and expand the "artificial intelligence +" action, strengthen technological research and algorithm innovation; it is necessary to control low-price and disorderly competition in accordance with laws and regulations, and improve supporting rules such as industry cost surveys and prohibiting low-price dumping.
2. The Ministry of Commerce and the Ministry of Science and Technology announced on the 16th that they plan to revise the "China's Catalog of Prohibited and Restricted Export Technologies" to include some artificial intelligence, biomedicine, and photovoltaic technologies.
3. Four departments including the Ministry of Industry and Information Technology organized discussions with more than 30 automobile companies to strengthen the innovative design and R&D testing and verification management of automobile products.
4. The 2026 Financial Street Forum Annual Meeting will be held in Beijing’s Financial Street from October 19th to 22nd. Pan Gongsheng, Ding Xiangqun, Wu Qing, and Zhu Hexin will attend the 2026 Financial Street Forum Annual Meeting and deliver keynote speeches.
5. Pan Gongsheng attended the 54th International Monetary and Financial Committee meeting. The meeting held that the rapid development of artificial intelligence technology has exacerbated the risk of differentiation, and the world economy still faces downward risks.
6. The 6th RISC-V China Summit will be held from October 18th to 20th at the Shenzhen Convention and Exhibition Center (Futian). Frost & Sullivan estimates that China's RISC-V main control chip market will reach approximately 219.4 billion yuan in 2030.
7. Morgan Stanley said that in 2027, the scale of new computing power in the data centers of ultra-large-scale cloud vendors and emerging clouds will surge by 48% year-on-year, reaching 32 gigawatts.
8. Frost & Sullivan, an international consulting organization, recently released the "2026 Global Humanoid Robot Market Research Report". In the first half of this year, global sales of humanoid robots reached 36,000 units, exceeding the 35,000 units in the whole of 2025; market revenue reached US$540 million.
9. Changxin Technology announced that in the first three quarters, it had a pre-profit of RMB 131 billion to RMB 132.5 billion year-on-year, and the chairman proposed to repurchase shares of RMB 1 billion to RMB 2 billion.
10. Dingtai High-tech announced that the chairman proposed to repurchase A shares for 50 million to 100 million yuan; Montage Technology announced that the independent directors proposed to repurchase A shares for 300 million to 500 million yuan; Zhongke Shuguang announced that the chairman proposed to repurchase the company's shares for 300 million to 500 million yuan; Haiguang Information announced that the chairman proposed to repurchase 500 million to 800 million yuan of shares; Shengyi Technology announced that the chairman proposed to repurchase A shares for 200 million to 300 million yuan.
11. Shenghong Technology announced that the actual controller proposed that the company repurchase A shares for 150 million to 300 million yuan; OmniVision Group announced that it planned to repurchase A shares for 250 million to 500 million yuan; Shandong Gold announced that it planned to repurchase shares for 300 million to 400 million yuan to cancel and reduce registered capital.
12. Sihui Fushi announced that its net profit in the third quarter increased by 217% year-on-year; Welgo announced that its net profit in the third quarter increased by 462% year-on-year; Kexiang announced that its net profit in the first three quarters was 244 million yuan; Yongtai Technology announced that its net profit in the first three quarters increased by 1,222% year-on-year.
13. Demingli announced that it expected net profit in the first three quarters to be 8.65 billion yuan to 8.95 billion yuan year-on-year; Jialichuang announced that net profit in the first three quarters was expected to increase by 79%-118% year-on-year; Hengtong Optoelectronics announced that net profit in the first three quarters was expected to increase by 151%-168% year-on-year; Jinhaitong announced that net profit in the first three quarters was expected to increase by 148% to 172% year-on-year.
14. Shengyi Electronics announced that net profit in the first three quarters is expected to increase by 68%-75% year-on-year; Tengjing Technology announced that net profit in the third quarter is expected to increase by 61.68%-76.38% year-on-year; Shengyi Technology announced that net profit in the first three quarters is expected to increase by 164%-181% year-on-year.
15. Shenhao Technology announced that its subsidiary signed a purchase contract for computing power equipment worth 881 million yuan; Dataport announced that it plans to purchase computing power services of no more than 1 billion yuan.
16. Shenghe Resources announced that it plans to transfer 51% of the equity of four rare earth smelting and separation subsidiaries to China Rare Development.
17. The market has reduced expectations for the Federal Reserve to raise interest rates in October. After Federal Reserve Chairman Warsh's "dovish" speech, the probability of raising interest rates dropped from about 27% to less than 15%.
18. Trump signed an executive order on the 16th local time to suspend the implementation of a new round of large-scale sanctions against the Russian economy passed by the US Congress.
19. Trump said in an interview at the White House on the 15th that the United States may launch another attack on Iran’s nuclear facilities, including the underground nuclear facility in Haoshan.
20. According to reports, India has ordered state-owned fuel retailers to stop purchasing ethanol produced from sugar and the main sugar cane raw material, a move that may help curb rising sugar prices. The ban will come into effect in India's new supply year starting on November 1.
21. Last Friday, the three major U.S. stock indexes collectively closed down. The Dow Jones Industrial Average fell 0.34%, the Nasdaq Composite fell 2.14%, and the S&P 500 Index fell 1.09%. Popular technology stocks generally fell. The Storage Concept Index fell 6.28%. The Philadelphia Semiconductor Index fell 3.83%, marking the eighth consecutive trading day of decline. SanDisk, Western Digital, and SK Hynix fell more than 6%.
22. Last Friday, the settlement price of WTI crude oil futures increased by 3.51%, and the settlement price of Brent crude oil futures rose by $3.94. COMEX gold futures closed up 0.4%, while COMEX silver futures fell 0.04%.
23. When talking about the shock in the AI market, Huang Renxun said: "This will all pass." Huang expressed optimism, saying the benefits of the technology would soon allay investor concerns.
24. According to people familiar with the matter, SoftBank Group is considering acquiring Allied Universal, the largest security services company in the United States, and founder Masayoshi Son is exploring ways to implement AI-driven robots across the industry.
25. The artificial intelligence company OpenAI is laying out the humanoid robot research and development track. Sam Altman disclosed the progress of related projects. The project will focus on the research and development of robot intelligent systems as its core research direction. B[AI and price increases are two-wheel drive, more than 130 A-share companies have predicted positive third-quarter results] On October 19, Wind data showed that as of 18:00 on October 18, 159 A-share companies had released third-quarter performance forecasts, of which 132 companies had predicted positive results, including 98 companies forecasting increases, 13 companies turning losses, and 21 companies reporting slight increases. The overall proportion of positive results reached 83.02%. 61 companies including Hengli Petrochemical, Lianxun Instruments, Fudan Microelectronics, and Hanyu Pharmaceuticals expect net profits attributable to their parent companies to increase by more than 100% year-on-year, and 7 of them predict an increase of more than 10 times. Sorting out the drivers of performance growth, we mainly focus on two main lines: First, the AI industry chain continues to be booming, and the demand for computing power, servers, optical modules, PCBs, semiconductors and other links is strong, driving orders and profits of related companies to improve; second, the prices of cyclical products such as chemicals have rebounded, and the supply and demand pattern of some subdivided products has improved, promoting the restoration of corporate gross profit margins. In addition, overseas business has maintained rapid growth and also provided incremental support for industries such as electronics, chemicals, medicine, and computers. (Shanghai Securities News) B[Li Qiang held talks with Tajik Prime Minister Rasulzoda] On the afternoon of October 18, Premier Li Qiang held talks with Tajik Prime Minister Rasulzoda in Dushanbe.
Li Qiang said that the Chinese people and the Tajik people have always had friendly feelings towards each other. In recent years, under the strategic guidance of President Xi Jinping and President Emomali Rahmon, China-Tajikistan relations have maintained high-level development, and cooperation between the two sides in various fields has continued to deepen and become more substantial. Next year, China and Tajikistan will celebrate the 35th anniversary of the establishment of diplomatic relations. China is willing to work with Tajikistan to deepen strategic mutual trust, firmly support each other, push China-Tajikistan all-round cooperation to a new level, achieve more practical results, and better benefit the two peoples.
Li Qiang pointed out that China is willing to in-depth align its development strategies with Tajikistan, promote high-quality joint construction of the "Belt and Road", and deepen cooperation in trade and investment, green minerals, connectivity, clean energy, artificial intelligence and other fields to better achieve mutual benefit and win-win results. China is willing to import more high-quality goods from Tajikistan, encourages Chinese companies to invest and start business in Tajikistan, and hopes that Tajikistan will continue to provide a good business environment for enterprises. The two sides should expand exchanges and cooperation in culture, education, health, sports, and local areas to enhance the sense of gain of the two peoples, and at the same time continue to deepen law enforcement and security cooperation to create a stable and peaceful environment for personnel exchanges between the two sides. The current international situation continues to change in complex ways. As important members of the Global South, China and Tajikistan should unite and collaborate more closely to safeguard the common interests of the two countries and safeguard international fairness and justice. The two sides should further strengthen communication and coordination within multilateral frameworks such as the United Nations, the Shanghai Cooperation Organization, the China-Central Asia Mechanism, and the World Cooperation Organization on Artificial Intelligence to promote the construction of a more fair and reasonable global governance system.
Rasulzoda said that under the joint leadership of the two heads of state, Tajikistan-China relations are currently at the best level in history. In May this year, President Emomali Rahmon successfully visited China, and relations between the two countries entered a new stage of development. China is Tajikistan's most important trade and investment partner, and China thanks China for its long-term strong support for Tajikistan's economic development. Tajikistan is actively committed to promoting all-round cooperation between Tajikistan and China, and is willing to further leverage the role of the inter-governmental economic and trade cooperation committee between the two countries, promote high-quality joint construction of the "Belt and Road", deepen mutually beneficial cooperation in the fields of economy and trade, investment, agriculture, transportation and logistics, energy and minerals, and connectivity, expand cooperation in emerging areas such as green economy, digital economy, and artificial intelligence, enhance people-to-people and cultural exchanges, and intensify communication and collaboration on multilateral platforms such as the Shanghai Cooperation Organization and the China-Central Asia Mechanism, so as to continuously promote Tajikistan-China relations to achieve new results.
After the talks, both parties jointly witnessed the signing of a number of documents in areas such as infrastructure construction, education, anti-corruption, and standardization cooperation.
In the afternoon of the same day, Li Qiang laid a wreath at the Monument for National Reconciliation and Rejuvenation of Tajikistan.
Wu Zhenglong participated in the above activities. (Xinhua News Agency) B[TSMC’s second JASM fab in Japan has been approved to switch to 3nm chip production] On October 18, according to a recent announcement on the official website of Japan’s Ministry of Economy, Trade and Industry, the plan to convert JASM’s second wafer fab, a Japanese joint venture controlled by TSMC, to produce 3nm chips has been officially approved by Japan’s Ministry of Economy, Trade and Industry. It is understood that JASM’s second wafer fab had previously planned to produce 40-nanometer, 12-nanometer, and 6-nanometer process chips, with a total designed monthly production capacity of 63,000 wafers. B[Pan Gongsheng, Governor of the People's Bank of China, attended the 54th International Monetary and Financial Committee Meeting] October 17th. From October 16 to 17, 2026, the International Monetary Fund (hereinafter referred to as the Fund) held the 54th International Monetary and Financial Committee (IMFC) Meeting in Bangkok, Thailand. The meeting discussed the global economic and financial situation, the work of the Fund and other issues. The meeting held that the global economy has performed better than expected despite geopolitical and other shocks, but trade tensions have exacerbated uncertainty, and the rapid development of artificial intelligence technology has intensified the risk of differentiation, and the world economy still faces downward risks. All parties should focus on macroeconomic and financial stability and address common challenges through international cooperation. The meeting called on all parties to complete the domestic approval process for the capital increase under the 16th General Inspection of Quotas as soon as possible, and to advance discussions on quota and governance reforms under the 17th General Inspection of Quotations in accordance with the "Guiding Principles of Diriyah Quota and Governance Reform" B[President of the International Monetary Fund: Three core consensuses reached at the Autumn Annual Meeting] On October 17, local time, Kristalina Georgieva, President of the International Monetary Fund (IMF), said in her concluding speech at the 2026 Autumn Annual Meeting in Bangkok, Thailand, that this meeting held in-depth discussions around global economic resilience, artificial intelligence development and its risks, global economic differentiation and other issues, and reached three core consensuses. Georgieva pointed out that artificial intelligence has become an important driving force for economic growth, but over-reliance on a single growth engine also brings risks. The foundations of global economic resilience are currently facing challenges. Secondly, the global economic differentiation is increasing day by day. Countries that have failed to participate in the artificial intelligence value chain, as well as energy importing countries affected by the war, are facing greater development pressure, and the dividends of global economic growth have not yet been evenly shared. Third, artificial intelligence is developing rapidly, and current policy choices will profoundly affect its future development direction. All parties generally believe that while fully unleashing the development dividends of artificial intelligence, it is also necessary to establish necessary protective mechanisms, manage related risks, and strengthen cooperation among governments, enterprises, and international institutions. B[ZTE CTO Wang Xiyu: The new generation data center network NPO solution is providing a better solution for AI Fabric] October 17th, the 10th Future Network Development Conference was held in Nanjing, Jiangsu from October 15th to 17th. Wang Xiyu, executive vice president and chief technology officer of ZTE, pointed out in his speech that with the rapid development of large AI models and computing power clusters, profound changes have occurred in the data center domain, wide area, and air and space domain businesses. For data center domain scenarios, optical devices are gradually moving closer to electrical chips, which is a significant trend in optical interconnection. NPO takes into account the advantages of openness, cost and maintainability, and intra-node interconnection is the main scenario of NPO. Wang Xiyu said that ZTE’s new generation data center network NPO solution is providing better solutions for AI Fabric and becoming a pioneer in the development of high-density bandwidth. Facing the space and space domain scenarios, satellite laser communications are extending the network from the ground to space. In terms of bandwidth capabilities, ZTE is promoting the commercial verification of spaceborne 100G/200G products. 400G/800G core chips and optical devices are also being verified, which can meet the needs of the long-term evolution of spaceborne laser applications. In terms of product form, it supports "lasers and routing can be separated and combined" to adapt to the needs of different satellite platforms. High-value scenarios integrating space and ground are taking root. (Securities Times) A[U.S. technology stocks sold off: Apple is the only technology stock with a market value of more than one trillion U.S. dollars this week to close up, and the optical communications and storage sectors are the hardest hit] October 17th, U.S. artificial intelligence-related technology stocks were sold off again this week, with the Philadelphia Semiconductor Index falling by more than 11% for the week, the largest weekly decline since April 2025. The combined market value of technology stocks with a market value of more than US$1 trillion has shrunk by nearly US$1.1 trillion this week. SpaceX fell by more than 10%, Broadcom fell by more than 9%, Tesla fell by more than 7%, and Nvidia fell by more than 6%; only Apple closed up. The optical communications and storage sectors have become the hardest hit areas, with the storage concept index falling by more than 17% on a weekly basis, the largest weekly decline since April 2025. Micron Technology and SK Hynix exited the trillion-dollar market capitalization ranks; Coherent, Coherent, Ciena, and Kioxia all fell by more than 25%.
Nvidia CEO Jensen Huang expressed optimism about the latest plunge in artificial intelligence stocks, saying the benefits of the technology will soon ease investor concerns. B[Guangdong has registered 195 large models, ranking among the top in the country] On October 17th, the results conference of the Guangdong-Hong Kong-Macao Greater Bay Area Generative Artificial Intelligence Security Development Joint Laboratory was held in Guangzhou on October 16th. A number of results were released at the meeting. The "Guangdong Province Registered Large Model Observation Report (2026)" systematically sorts out the development status, structural characteristics, and innovation highlights of the current 195 registered large models, providing reference guidance for improving industry governance policies and optimizing the industrial development environment; the "Joint Laboratory Technology System Construction Plan (2026-2028)" proposes the accelerated evolution of generative artificial intelligence from large models to agents and large-scale applications. The new trend will focus on promoting capacity building such as security assessment, situational awareness, agent and application security assessment, trustworthy assessment, cross-border governance collaboration between Guangdong, Hong Kong and Macao, and AI security think tanks; the "APEC Artificial Intelligence Legal Policy Blue Book (2026)" conducts a comparative study on the artificial intelligence legal policies of all 21 APEC member economies, and makes suggestions for Guangdong to seize opportunities and deepen regional coordination. The meeting also introduced Guangzhou’s achievements in promoting the safe development of artificial intelligence.
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