Weekend Highlights Summary: The People's Bank of China, CSRC, and four other departments respond to China's economic hot topics

This weekend’s major market news includes: five departments, including the Central Bank and CSRC, responding to China’s economic hot topics; a diplomatic-themed press conference with Foreign Minister Wang Yi answering questions; China’s central bank increasing gold reserves for the 16th consecutive month; the CSRC releasing “Several Regulations on Short-term Trading Supervision”; Iran’s president stating unconditional no surrender and apologizing to neighboring countries; international oil prices rising over 12%; and the U.S. February non-farm employment unexpectedly showing “negative growth.”

Macroeconomics

Five Departments Respond to China’s Economic Hot Topics — Here Comes the Focus!

The Fourth Session of the 14th National People’s Congress will hold a press conference at 3 p.m. on March 6, 2026. Director of the National Development and Reform Commission Zheng Shanjie, Minister of Finance Lan Fu’an, Minister of Commerce Wang Wintao, People’s Bank of China Governor Pan Gongsheng, and CSRC Chair Wu Qing will answer questions from Chinese and foreign journalists on development reform, fiscal budgets, commerce, and financial securities.

Foreign Minister Wang Yi Answers Questions in 15 Sentences — Key Highlights!

On March 8, the diplomatic-themed press conference of the Fourth Session of the 14th NPC was held. Member of the Political Bureau of the CPC Central Committee and Foreign Minister Wang Yi responded to questions about China’s foreign policy and international relations.

China’s Central Bank Continues to Increase Gold Reserves for the 16th Month in a Row

Data from the central bank shows that at the end of February, gold reserves were 74.22 million ounces, an increase of 30,000 ounces from the previous month, which was 74.19 million ounces, marking the 16th consecutive month of gold accumulation.

PBOC Governor Pan Gongsheng: Will Flexibly and Efficiently Use Multiple Monetary Policy Tools This Year

Pan Gongsheng stated that in 2026, the People’s Bank of China will implement a moderately relaxed monetary policy, flexibly and efficiently using tools such as reserve ratio cuts and interest rate reductions, leveraging both incremental and stock policies, and integrating monetary and fiscal policies to create a favorable financial environment for a good start to the “14th Five-Year Plan.”

Finance Minister Blue Fuan: Central Finance Allocates 100 Billion Yuan to Support Fiscal and Financial Coordination to Stimulate Domestic Demand

On March 6, at the fourth session of the 14th NPC, Finance Minister Blue Fuan announced that this year, the central government has allocated 100 billion yuan to launch a package of six policies promoting fiscal and financial coordination to boost domestic demand, including four targeted support measures for private investment and two for residents’ consumption.

National Development and Reform Commission: Establishing a National-Level M&A Fund with the Ministry of Finance and PBOC, Expected to Mobilize Over 1 Trillion Yuan

On March 6, Zheng Shanjie, director of the NDRC, revealed that this year, the NDRC will work with the Ministry of Finance and PBOC to establish a national M&A fund, further smoothing exit channels for venture capital, improving capital turnover efficiency, and expected to guide and leverage over 1 trillion yuan of various funds.

Ministry of Commerce: Will Launch More Incremental Policies, Including a Version 2.0 of Tax Refunds for Departing Travelers

On March 6, Minister Wang Wintao said that the Ministry of Commerce will continue to develop the “Buy in China” brand from three aspects: organizing activities, issuing policies, and enhancing scenarios. Policies will include expanding and upgrading consumer goods, and launching a Version 2.0 of departure tax refunds among other measures.

China Discusses Transit of Energy Ships Through the Strait of Hormuz? Foreign Ministry Responds

Mao Ning stated that the Strait of Hormuz and nearby waters are vital international trade routes for goods and energy. Maintaining regional security and stability aligns with international interests. China urges all parties to cease military actions immediately, avoid escalation, prevent regional turmoil, and minimize global economic impacts.

Ministry of Commerce Spokesperson Answers Questions on EU’s “Industrial Accelerator Act”

On March 4, the EU issued a law imposing restrictions on foreign investments in batteries, electric vehicles, photovoltaics, and key raw materials, including mandatory technology transfer, foreign shareholding limits, local content, and employment requirements. These restrictions apply only to third-country investors with over 40% global capacity in these sectors and prioritize EU manufacturing in public procurement.

Global Markets

Iranian President: Unconditional No Surrender, Apologizes to Neighboring Countries

According to CCTV, on March 7, Iran’s President Ebrahim Raisi delivered a speech calling for national unity and emphasizing that Iran will never surrender unconditionally. He apologized to neighboring countries and stated that the temporary leadership committee approved on the 6th that Iran will no longer attack or launch missiles at neighbors unless they attack Iran first.

U.S. Stock Market: All Three Major Indices Fall, Nasdaq and S&P Drop Over 1%, International Oil Prices Up Over 12%

On March 6, U.S. stock indices closed lower across the board. The Dow fell 453.19 points to 47,501.55, down 0.95%, with a weekly decline of 3.01%. The S&P 500 dropped 90.69 points to 6,740.02, down 1.33%, weekly down 2.02%. The Nasdaq declined 361.31 points to 22,387.68, down 1.59%, weekly down 1.24%.

U.S. February Non-Farm Payrolls Unexpectedly Show “Negative Growth” as Traders Increase Bets on Fed Rate Cuts

The latest non-farm payroll data from the U.S. Bureau of Labor Statistics showed an unexpected decrease. Analysts believe that slowing employment may force the Fed to restart rate cuts. Specifically, February saw a decline of 92,000 non-farm jobs month-over-month, against expectations of a 59,000 increase; January data was revised down from 130,000 to 126,000. The last time non-farm employment fell so sharply was in October last year, with a decrease of 140,000.

Major Drop of 94%! Major News from the Strait of Hormuz! Goldman Sachs Issues Urgent Warning!

The Strait of Hormuz is stirring global energy markets. On March 7, CCTV reported that Iran’s Islamic Revolutionary Guard Corps announced that a commercial oil tanker named “PRIMA” ignored multiple warnings and forcibly entered the strait, then was hit by a drone.

Financial Capital

Central Bank Governor Makes Major Statement! Supports CICC to Play a Role Similar to a Stabilization Fund

On the afternoon of March 6, at the fourth session of the 14th NPC, PBOC Governor Pan Gongsheng stated that China’s financial market financing structure is undergoing profound changes. The central bank will flexibly and efficiently use tools like reserve ratio cuts and interest rate reductions, and future monetary policy will gradually move away from quantity-based intermediate targets.

Wu Qing’s Full Speech: Two “New Policies” Coming Soon, Strict Crackdown on Hotspot Chasing, Concept Speculation, and Manipulation

At 3 p.m. on March 6, during the NPC economic press conference, CSRC Chair Wu Qing announced that the CSRC will soon deepen reforms of the ChiNext Market, emphasizing its function, expanding inclusiveness, and setting more precise and inclusive listing standards. It will support the development of new industries, new business models, and new technologies, as well as high-quality innovative enterprises in consumer and modern service sectors.

CSRC Releases “Several Regulations on Short-term Trading Supervision”

To implement the short-term trading supervision system stipulated by the Securities Law, the CSRC issued “Several Regulations on Short-term Trading Supervision,” effective from April 7, 2026. Based on a comprehensive review of domestic and international legislation, judicial, and regulatory practices, the regulations clarify supervision arrangements for major shareholders and senior management involved in short-term trading.

Shanghai Stock Exchange: Focused Monitoring of Funds with High Premiums, Such as S&P Oil & Gas ETF and KORUS Semiconductor ETF

From March 2 to March 6, 2026, the Shanghai Stock Exchange’s regulatory department sent 15 regulatory letters, including 1 inquiry letter and 14 work letters. During supervision, 6 disclosures or corrections were required. Additionally, increased linkage supervision of information disclosure and abnormal stock price movements, with 14 cases of suspected insider trading or abnormal trading being referred for investigation.

Industrial Economy

NDRC Director: AI-Related Industries Will Grow to Over 10 Trillion Yuan by 2030

Zheng Shanjie stated at the NPC that the “Artificial Intelligence +” initiative will see AI-related industries expand to over 10 trillion yuan by the end of the 14th Five-Year Plan.

NDRC Director: Six Emerging Pillar Industries, Including Smart Robots, Expected to Reach Over 10 Trillion Yuan in Output Value by 2030

Zheng Shanjie said that industries such as integrated circuits, aerospace, biomedicine, low-altitude economy, new energy storage, and smart robots, which are currently close to 6 trillion yuan in 2025, are expected to double or more by 2030, surpassing 10 trillion yuan.

Zheng Shanjie: Major Energy Projects Over Trillion Yuan Will Be Implemented During the 14th Five-Year Plan

He added that during the period, China will implement strategic projects like the Yarlung Zangbo River hydropower, “Shagehuang” new energy base, offshore wind farms, and other trillion-yuan-level energy projects. Major transportation projects such as the Three Gorges new shipping channel and the “Eight Vertical and Eight Horizontal” high-speed rail network will also be advanced.

Company Focus

Ministry of Commerce Responds to ASML Netherlands’ Ban on Using Chinese Employees’ Software: Severely Disrupts Normal Business Operations

China maintains a responsible attitude toward the global semiconductor supply chain. ASML’s actions severely disrupt normal operations; if they trigger a global semiconductor supply crisis again, the Netherlands must bear full responsibility.

AI “Lobster Farming” Craze! Tencent Offers Free “Lobster” Tools, Xiaomi Also “Farming Lobsters” — What’s the Logic Behind Big Tech Involvement?

The phrase “Are you farming lobsters?” has become a new social greeting in AI circles. More people are asking, more are “farming.” It seems that not “farming lobsters” means being out of the loop. Here, “lobsters” refer not to aquatic animals but to a popular AI agent tool called OpenClaw, which claims to “take over computers and free hands,” and is an open-source intelligent agent.