The China Banking Regulatory Commission has unofficially instructed several local brokers to suspend activities in the field of real asset tokenization (RWA) in Hong Kong, Reuters reports, citing sources.
According to the agency, the move is aimed at strengthening risk control. The regulator wants to ensure that RWA projects are based on real business and are not used as speculative instruments.
Beijing’s initiative contrasts with Hong Kong’s policy, which has recently been actively promoting itself as a global center for digital assets. Mainland China banned cryptocurrency trading and mining in 2021, but at the same time, in August, it became known that the Chinese government was exploring the possibility of legalizing the use of yuan-backed stablecoins.
According to RWA.xyz, the global market for tokenized real assets is currently valued at $28 billion.
China has unveiled a new action plan for the steel industry, which includes a set of measures to address the chronic problem of oversupply. This comes amid Beijing’s intensified efforts to end a series of price wars raging in the economy, writes the South China Morning Post.
The plan, which includes a strict ban on the commissioning of additional capacity and measures to accelerate the decommissioning of obsolete equipment, could serve as an example for other industries suffering from overproduction and excessive competition.
The document, published on Monday by the Ministry of Industry and Information Technology in conjunction with a number of other agencies, calls for strict control over steel production capacity and volumes. It stresses that “coordinated efforts on both the supply and demand sides” are needed to stabilize the industry.
The plan aims to “accelerate the transition from old to new growth drivers, develop new productive forces, and further enhance the resilience and security of industrial and supply chains.” The steel industry should strive to increase added value by approximately 4% annually over the next two years and complete the modernization of more than 80% of steel production capacity to achieve ultra-low emissions by the end of this year.
Although Chinese steel companies account for more than half of global production, the average profitability of listed companies in 2024 was minus 0.26% due to structural problems in the industry, the report said.
According to CINDA Securities, 7.44 million tons of five major types of steel products were produced in the country in the first half of September, approximately 5.8% more than in the same period a year earlier. Steel inventories increased by 12.1% to 11.01 million tons, while consumption fell by approximately 4.6% to 8.5 million tons.
The composite steel price index is currently at 3,507 yuan ($493) per ton, which is approximately 2.6% higher than last year’s figure, but approximately 14% lower than in 2023.
In 2024, China reduced steel production by 1.7% to 1.005 billion tons.
According to Chinese media reports, US President Donald Trump’s visit to China may take place in late October or early November. According to the South China Morning Post, the Chinese government sent Trump an invitation in early September, which usually means that preparations are already in the final stages. SCMP sources also claim that both sides are already working out the details of the trip: there are still “some minor issues” to be resolved, but the main obstacles have been removed.
It is believed that the visit may be timed to coincide with the Asia-Pacific Economic Cooperation (APEC) summit, which will be held in South Korea from October 31 to November 1.
ASEAN (Association of Southeast Asian Nations) is an intergovernmental organization that has existed since 1967, designed to promote economic growth, social progress, and cultural development in the countries of the region, as well as to strengthen regional stability and cooperation.
The members of ASEAN are: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar (Burma), the Philippines, Singapore, Thailand, and Vietnam.
The attitude of Ukrainians toward China remains complex and controversial: a neutral position prevails, but among those who have decided, negative assessments significantly outweigh positive ones. This is evidenced by the results of an all-Ukrainian survey conducted by Active Group in cooperation with the Experts Club information and analytical center in August 2025.
According to the survey, 44.7% of Ukrainian citizens expressed a neutral attitude toward China. At the same time, 40.7% of respondents indicated that their assessment was negative (30.0% – mostly negative, 10.7% – completely negative). Only 12.0% of Ukrainians have a positive attitude toward China (8.3% – mostly positive, 3.7% – completely positive). Another 3.0% of respondents admitted that they did not know enough about the country to express their own opinion.
“Negative attitudes toward China among Ukrainians are primarily related to its foreign policy stance, which many people find ambiguous in the context of global events. However, the economic factor is extremely important: in the first half of 2025, China remained Ukraine’s No. 1 trading partner. Our exports to China amounted to more than $846 million, while imports exceeded $8.1 billion. This means that China’s influence on the Ukrainian economy is extremely significant, and it is simply impossible to ignore it,” said Maksym Urakin, founder of Experts Club.
In his turn, Oleksandr Poznyi, co-founder of Active Group, drew attention to the importance of separating economic interests from public perception.
“The survey shows that Ukrainians are not ready to unequivocally perceive China as an ally. For many, it remains an alienated state, and a significant share of negative assessments is explained by the global political context and lack of trust. At the same time, economic cooperation is so extensive that it could become the basis for a gradual change in public opinion in the future,” he added.
The poll is part of a broader study that analyzes international sympathies and antipathies of Ukrainians in the current geopolitical environment.
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ACTIVE GROUP, CHINA, DIPLOMACY, EXPERTS CLUB, Poznyi, SOCIOLOGY, TRADE, URAKIN
China’s foreign exchange reserves, the world’s largest, increased by $29.9 billion (0.9%) in August compared to the previous month and amounted to $3.322 trillion, the People’s Bank of China said in a statement. That’s the most since December 2015.
The yuan appreciated 0.9% against the U.S. currency last month. Meanwhile, the U.S. dollar fell 2.2% against a basket of major world currencies.
Gold reserves stood at 74.02 million ounces at the end of August, up from 73.96 million ounces a month earlier. The Chinese Central Bank bought precious metal for the tenth month in a row. In value terms, gold reserves reached $253.84 billion against $243.99 billion at the end of July.
The Chinese economy continues to maintain stable growth, showing resilience and vitality, which helps to keep the country’s foreign exchange reserves at a stable level, said the State Administration of Foreign Exchange Control of the People’s Republic of China.
China has taken a new step in the race for leadership in future communications technologies. Scientists from Peking University and City University of Hong Kong have developed the world’s first universal 6G chip, which is capable of delivering data transfer speeds of over 100 Gbps and operating at any frequency in the range from 0.5 to 115 GHz. This was reported by the South China Morning Post and Interesting Engineering, citing a publication in Nature magazine.
The finger-sized device (11×1.7 mm) allows you to download, for example, a 50 GB 8K video in a matter of seconds.
The modem uses a photon-electron architecture, which allows different frequency bands to be combined into a single system.
The development solves a key problem for future 6G networks: spectrum fragmentation. Currently, equipment is created separately for “low,” “medium,” and “millimeter” frequencies, which complicates implementation. The new chip is universal and can be used both in rural areas (for low-frequency coverage) and in megacities (for ultra-fast connections at high frequencies).
Prototypes that transmitted data at a speed of 100 Gbit/s over limited distances were previously demonstrated in Japan, and an experimental 6G network was launched in China in 2024. However, it is the Chinese universal modem that has covered the entire frequency range for the first time, making it unique.
The next step is to integrate the technology into compact USB-format modules and adapt it for smartphones, base stations, and Internet of Things devices. This will bring us closer to the mass adoption of 6G, which experts expect in the 2030s.
China is cementing its leadership in 6G development by offering the world a unique solution that could change the landscape of mobile technology. The breakthrough universal modem opens up opportunities for a digital revolution — from medicine to the entertainment industry.
