Statistics, for the first 11 months,China's export of electromechanical products14.89 trillion yuan, an increase of 8.8%, accounting for 60.9% of our total exports. Among them, automatic data processing equipment and parts amounted to 1.31 trillion yuan, a decrease of 1.3%; integrated circuits amounted to 1.29 trillion yuan, an increase of 25.6%; automobiles amounted to 896.91 billion yuan, an increase of 17.6%. During the same period, the export of labor-intensive products amounted to 3.7 trillion yuan, a decrease of 3.5%, accounting for 15.1% of our total exports. Among them, clothing and accessories amounted to 987.26 billion yuan, a decrease of 3.7%; textiles amounted to 931.33 billion yuan, an increase of 1.7%; plastic products amounted to 677.6 billion yuan, a decrease of 0.5%. The export of agricultural products amounted to 670.21 billion yuan, an increase of 2%.

General Administration of CustomsAccording to the released data, in November 2025, the total value of China's goods trade imports and exports was 3.9 trillion yuan, an increase of 4.1% year-on-year, accelerating by 4 percentage points compared to the previous month. As of November, China's goods trade imports and exports have maintained year-on-year growth for 10 consecutive months. From a cumulative perspective, in the first 11 months of this year, the total value of imports and exports was 41.21 trillion yuan, an increase of 3.6% year-on-year, with the growth rate remaining consistent with the first 10 months.

At the invitation of Chinese President Xi Jinping, French President Emmanuel Macron will make a state visit to China from December 3 to 5. During the visit, China and France will issue a joint statement on strengthening global governance, cooperating to address global climate and environmental challenges, continuing to promote cooperation in the peaceful use of nuclear energy, agricultural and food exchanges and cooperation, as well as the situations in Ukraine and Palestine.

On December 3, Foreign Ministry spokesperson Lin Jian hosted a regular press conference. A reporter asked about the recent visit to Russia by Wang Yi, member of the Political Bureau of the CPC Central Committee and Director of the Central Foreign Affairs Office. Can the spokesperson provide details about the visit and comment on the visit? Lin Jian stated that on December 2, Wang Yi, a member of the Political Bureau of the Central Committee of the Communist Party of China and director of the Central Foreign Affairs Office, co-chaired the 20th round of China-Russia strategic security consultations in Moscow with Nikolai Patrushev, secretary of the Russian Security Council. They also met with Russian Foreign Minister Sergey Lavrov, and both sides conducted comprehensive and in-depth communication on major issues concerning bilateral relations and the strategic security interests of the two countries, reaching new consensus and enhancing strategic mutual trust. Both sides agreed to fully implement the important consensus reached by the heads of state of the two countries and to promote China-Russia relations and strategic cooperation to a higher quality level.

On December 1, Huntsman Corporation announced that its polyurethane plant in Rotterdam, Netherlands, is currently experiencing an unplanned shutdown, which is expected to have a negative impact of approximately $10 million on the adjusted EBITDA for the fourth quarter of 2025. The larger of the plant's two MDI production lines is affected, and production is expected to resume in mid-December. As a result of this shutdown, management currently expects the adjusted EBITDA for the fourth quarter of 2025 to be at the low end of the $25 million to $50 million range announced on November 6, 2025. Excluding the impact of this shutdown, the quarterly performance would align with previous expectations.

November 27, according to Global Times, foreign media such as France's Le Monde and AFP reported that the French Presidential Palace, the Élysée Palace, announced on the 26th local time that President Macron will conduct a state visit to China in early December. The Élysée Palace stated in a declaration that during this visit, Macron will arrive in Beijing and Chengdu successively. This visit will explore major topics within the France-China comprehensive strategic partnership and conduct consultations on several major international issues and areas of cooperation to address the global challenges of our time. The statement also mentioned that Macron will be committed to "promoting an agenda seeking cooperation and balance in the economic and trade fields," which will become the core issue during France's presidency of the Group of Seven (G7) in 2026.

On November 26 local time, the United States Trade Representative's office announced that it would extend the tariff exemptions related to the investigation under Section 301 concerning China's technology transfer and intellectual property issues until November 10, 2026. The existing exemptions were originally set to expire on November 29 of this year.

According to a report by Hong Kong Wande Communications Agency, Tata Motors disclosed in its financial report for the second quarter of the 2026 fiscal year that the main business revenue shows that Land Rover and Jaguar, passenger vehicles, and other income are at the forefront, amounting to 578.77 billion Indian Rupees, 135.29 billion Indian Rupees, and 14.61 billion Indian Rupees, respectively, accounting for 80.0%, 18.7%, and 2.02% of the total revenue.

As of 10 a.m. on November 24, 12 China-Japan routes have canceled all flights. Monitoring data indicates that the cancellation rate for planned flights to Japan will reach 21.6% on December 27, the highest value in a month. The routes with the highest cancellation rates include Tianjin Binhai - Kansai International (65.0%), Nanjing Lukou - Kansai International (59.4%), Guangzhou Baiyun - Kansai International (31.3%), and Shanghai Pudong - Kansai International (30.1%).

According to CCTV News, on November 23 local time, it was learned that the "Department of Government Efficiency (DOGE)," established on the first day of President Trump's term and led by American entrepreneurs Musk and Ramaswamy, has been quietly dissolved with eight months remaining until the contract ends. The Director of the United States Office of Personnel Management has confirmed that it "no longer exists," and several of its functions have been taken over by the Office of Personnel Management. It is reported that the "Government Efficiency Department" has significantly reduced the number of federal employees and cut agency budgets, but there has been a lack of public accountability. Its personnel have been gradually leaving headquarters during the summer, further deepening external speculation about its early termination.

To actively promote the company's internationalization strategy and continuously expand overseas markets, on November 21, Oriental Yuhong (002271) announced that its wholly-owned subsidiary, Oriental Yuhong Brazil Ltd. (hereinafter referred to as Oriental Yuhong Brazil), signed a share purchase agreement on November 19 (Brazil time November 18) with Brazilian individual OTTO MASCARENHAS SILVA and five other parties, intending to acquire 60% of the shares of Brazilian Novakem Indústria Química Ltda. (hereinafter referred to as Novakem) held by the trading parties for approximately 108 million Brazilian reais (approximately 144 million RMB based on the exchange rate on the date of the agreement). The transaction amount will be adjusted based on the operating capital and net debt situation on the delivery date.

Hangzhou CustomsIn the first ten months of this year, the total import and export value of Zhejiang (including Ningbo) reached 4.6 trillion yuan, a year-on-year increase of 5.3%, which is 1.7 percentage points higher than the national average. Among this, exports amounted to 3.47 trillion yuan, growing by 6.9%, while imports were 1.13 trillion yuan, with a growth of 0.4%. Zhejiang's imports and exports, exports, and imports accounted for 12.3%, 15.7%, and 7.4% of the national total, ranking third, second, and sixth respectively in the country. Notably, ASEAN has surpassed the EU for the first time, becoming Zhejiang's largest trading market. In the first ten months, ASEAN rose to become the province's largest trade partner, with a total trade value of 710.61 billion yuan, an increase of 16.2%, accounting for 15.4% of the province's total import and export value. "This is closely related to the continuous deepening of the China-ASEAN Free Trade Area and reflects a new trend of diversified business layouts among enterprises."Hangzhou CustomsAnalysis of the responsible person.

According to a news agency report, on November 10, an investor approached...Suqian LianshengCan the fundraising project start production in December? In this regard,Suqian LianshengOn November 10, it was stated on the investor interaction platform that the company's fundraising project includes the annual production of 12,000 tons of light stabilizers, 5,000 tons of anti-aggregation agents, and a series of new materials of 15,000 tons of dimethyl sebacate. Among them, the 12,000 tons of light stabilizers and 5,000 tons of anti-aggregation agents have been completed and put into production, while the remaining dimethyl sebacate has not yet been constructed. As of the semi-annual report of 2025, the construction progress has reached 74.66%. The company will strengthen the management of fundraising projects based on actual conditions, regularly supervise project progress, and ensure that the progress and quality of fundraising projects are controllable. If the projects cannot be completed on time, the company will timely follow the procedures and make public announcements.

On November 10, Xiangyuan New Materials responded on the investor interaction platform that the XPE/IXPE/aluminum foil composite PE cross-linked polyolefin foam produced by the company, with its unique closed-cell structure, possesses excellent thermal insulation and heat retention properties. The thermal conductivity is stable between 0.03-0.05 W/(m·K), making it an ideal material choice for various insulation applications. This material effectively blocks heat transfer, significantly reducing temperature loss within buildings, thereby enhancing energy efficiency and improving living comfort. It is currently mainly used in multiple energy-saving areas of construction, including roof insulation, pipe insulation, and wall insulation.

It is currently a crucial period for autumn harvest and autumn planting, and the demand for agricultural polyethylene film materials is strong. To fully ensure market demand,Yangzi PetrochemicalPrioritize the production of linear low-density polyethylene and related film products. Since October, the output of agricultural film products has increased by 5.2% year-on-year. Based on the guarantee of raw material supply, Yangzi Petrochemical focuses its superior technical resources on increasing production of the polyolefin film materials series for agricultural film through multiple channels, with a daily capacity of nearly one thousand tons. At the same time, it addresses the issues that arise during the production process of agricultural film materials.Yangtze PetrochemicalBy precisely controlling key parameters such as the melt index of the product, and closely monitoring every stage from raw material preparation, index adjustment, to real-time monitoring of particle appearance, we ensure that the quality of agricultural film materials fully meets the standards. In addition, the company has strengthened collaboration with the sales department to ensure smooth logistics, guaranteeing that products are delivered to downstream manufacturers in a timely manner, thus ensuring the production and supply of agricultural film products to support autumn harvest and planting.

【十五五规划建议发布：全链条推动集成电路、工业母机、高端仪器、基础软件、先进材料、生物制造等重点领域关键核心技术攻关取得决定性突破】财联社10月28日电，中共中央关于制定国民经济和社会发展第十五个五年规划的建议发布。其中指出，加强原始创新和关键核心技术攻关。完善新型举国体制，采取超常规措施，全链条推动集成电路、工业母机、高端仪器、基础软件、先进材料、生物制造等重点领域关键核心技术攻关取得决定性突破。突出国家战略需求，部署实施一批国家重大科技任务。加强基础研究战略性、前瞻性、体系化布局，提高基础研究投入比重，加大长期稳定支持。强化科学研究、技术开发原始创新导向，优化有利于原创性、颠覆性创新的环境，产出更多标志性原创成果。

On October 16, Cangzhou Mingzhu announced that the company's controlling shareholder...Dongsu Groupand its persons acting in concert plan to transfer 167 million shares of the company they hold (accounting for 10.00% of the company's total share capital on the agreement signing date) toGuangzhou Light IndustryAt the same time, the voting rights corresponding to the remaining 160 million shares (accounting for 9.58% of the company's total share capital on the date of the agreement) will be entrusted to Guangzhou Light Industry. If the transfer is completed,Guangzhou Light IndustryWill become the controlling shareholder of the company.Guangzhou State-owned Assets Supervision and Administration CommissionWill become the actual controller of the company. Review: Cangzhou Mingzhu's introduction of Guangzhou State-owned Assets as the controlling shareholder is a typical example of a "state-owned capital takeover" change in control. This move not only can bring funding and resource support to the company but also is expected to leverage the state-owned background to enhance its credibility and market position in the new energy materials field. For the original controlling shareholders, this is a way to "cede control while retaining some benefits" as an exit strategy. In the future, how the new actual controller empowers the company...Cangzhou MingzhuThe business development will be the focus of market attention.

Tianyancha AppRecently, ChengduOriental Yuhong Building Materials Co., Ltd.Established with a registered capital of 5 million yuan, the business scope includes the manufacturing and sales of building waterproof membrane products, paint sales, and building block manufacturing, etc. Shareholder information indicates that the company is owned byDongfang Yuhong100% ownership.

On September 29, Hainan Conch New Materials (000619) announced that the company plans to acquire a 51% stake in North China Industrial Plastics Co., Ltd. (referred to as "North China Plastics") for a transaction price of 95.268 million yuan. After the completion of this acquisition, the company will hold a 51% stake in North China Plastics, which will become a controlling subsidiary of the company and be included in the company’s consolidated financial statements. North China Plastics mainly produces and operates a series of products, including high molecular low noise rollers and modified ultra-high molecular weight polyethylene pipes and fittings. The company and North China Plastics are both in the plastic products industry, have a high degree of industrial relevance, and are likely to achieve industrial integration and collaborative development.

On September 26, according to CCTV News, on September 25 local time, U.S. President Trump announced on his social media platform "Truth Social" that starting from October 1, the United States will implement a new round of high tariffs on various imported products. The measures include a 50% tariff on kitchen cabinets, bathroom sinks, and related building materials, a 30% tariff on imported furniture, and a 100% tariff on patented and branded drugs.