Morning Report

April 11, 2026, Saturday, Lunar February 24, Good morning!

1. The National Development and Reform Commission and the Ministry of Finance issued the second batch of 62.5 billion yuan in ultra-long-term special government bonds to continue supporting the replacement of old consumer goods.

2. HSBC and Standard Chartered's joint venture received Hong Kong's first stablecoin license and will initially issue the Hong Kong dollar stablecoin.

3. The China Securities Regulatory Commission added a fourth set of listing standards for the Growth Enterprise Market, launching a special campaign on corporate governance starting April, focusing on urging major shareholders to return and utilize funds, among eight areas.

4. From January to March, the national futures market's total trading volume was 2.57M lots, with a total transaction value of 256.71 trillion yuan, representing year-on-year increases of 40.64% and 58.43%, respectively.

5. China launched the "Artificial Intelligence + Education" action plan, integrating AI into teacher qualification exams and certification content; many universities' fundamental plans canceled "competition-based exceptions," retaining only college entrance exam scores as admission criteria.

6. In the nuclear medicine field "from 0 to 1," China's independently developed world's first radioactive innovative drug has been approved for market listing.

7. In Q1 2026, China's passenger vehicle retail sales reached 4.23M units, down 17.4% year-on-year, marking the worst start in nearly a decade (excluding 2020); vehicle exports in Q1 totaled 2.226 million units, up 56.7% year-on-year.

8. The Cyberspace Administration of China and the National Railway Administration jointly held talks with seven third-party train ticket sales platforms including Ctrip, Qunar, Fliggy, and Meituan, requiring them not to use automation programs for large-scale, high-frequency ticket snatching.

9. Guangzhou police announced the online harassment incident involving Quan Hongchan: a diving enthusiast changed nicknames in a group and repeatedly posted insulting comments, resulting in ten days of administrative detention.

10. Iran is collecting tolls through cryptocurrencies for passage through the Strait, and the crypto ecosystem is rapidly expanding.

11. The U.S. delegation participating in Iran-U.S. negotiations has set out for Pakistan; to ensure the negotiations, Pakistan's Interior Minister announced the blockade of Islamabad's security core area.

12. Putin announced a 32-hour Orthodox Easter ceasefire, and Ukraine stated they will follow suit.