China Business Daily

5 October 2026 · 07:29 CST · Daily intelligence brief

This edition draws on 30 reports across 8 Chinese outlets.

At a Glance

  • China’s Ministry of Industry and Information Technology proposed accelerating six emerging pillar industries, including new energy storage and intelligent robots. m.21jingji.com, 2026-10-04.
  • The PBOC announced a 1-trillion-yuan outright reverse repo using a fixed-quantity, rate-tender, multiple-price bidding method to keep banking liquidity ample. finance.eastmoney.com, 2026-10-05.
  • In the first three days of the National Day holiday (Oct 1–3), 78 key monitored pedestrian streets and shopping districts saw foot traffic and turnover up 3.4% and 5.3% year on year, per the Ministry of Commerce. People’s Daily, 2026-10-05.

Top Stories

Energy

  • China proposes six emerging pillar industries as new energy storage capacity heads for 300 million kW by 2030 · covered by 2 outlets
  • On September 28, seven departments including the Ministry of Industry and Information Technology, the National Development and Reform Commission and the Ministry of Transport jointly issued the ‘15th Five-Year Plan’ for the new battery industry, according to the Ministry of Industry and Information Technology and other departments. m.21jingji.com, 2026-10-04.
  • By the end of 2025, China’s cumulative installed new energy storage capacity reached 136 million kilowatts/351 million kilowatt-hours, up 84.3% year on year, according to the National Energy Administration. m.21jingji.com, 2026-10-04.
  • During the 15th Five-Year Plan period about 160 million kilowatts of new energy storage will be added, bringing the national total to 300 million kilowatts by 2030, according to the National Development and Reform Commission and the National Energy Administration. m.21jingji.com, 2026-10-04.

  • China’s cumulative new energy storage installed capacity is forecast to reach 371.2 GW in the conservative case and 450.7 GW in the ideal case from 2026 to 2030, with compound annual growth rates of 20.7% and 25.5% respectively, according to the Zhongguancun Energy Storage Industry Technology Alliance (a Chinese energy-storage industry group). m.21jingji.com, 2026-10-04.

  • China’s highway NEV charging hits 3 million sessions, 71 million kWh in first three holiday days · covered by 2 outlets

  • On October 4, according to the National Energy Administration, during the first three days of the National Day holiday, NEV charging demand was strong and highway charging infrastructure operated smoothly. National Business Daily, 2026-10-04.
  • From 0:00 on October 1 to 24:00 on October 3, statistics covered 62,700 highway charging facilities (guns) included in the national charging facility monitoring service platform, according to the National Energy Administration. National Business Daily, 2026-10-04.
  • Charging volume reached 71.6193 million kWh, averaging 23.8731 million kWh per day, up 49.39% compared with the same period of last year’s National Day holiday, according to the National Energy Administration. National Business Daily, 2026-10-04.
  • New energy vehicle charging demand was strong during the first three days of the National Day holiday, and highway charging infrastructure operated smoothly, according to the National Charging Facility Monitoring Service Platform. Economic Observer, 2026-10-04.

Policy

  • PBOC to conduct 1 trillion yuan outright reverse repo operation · covered by 1 outlet
  • The People’s Bank of China (中国人民银行; China’s central bank) announced on July 3 that it will carry out the outright reverse repo operation on July 6, according to the central bank. finance.eastmoney.com, 2026-10-05.
  • The outright reverse repurchase operation has a term of 3 months (91 days) and matures on October 5, 2026 (postponed in case of holidays), according to the People’s Bank of China. finance.eastmoney.com, 2026-10-05.

  • The purpose of the operation is to keep liquidity in the banking system ample, according to the People’s Bank of China. finance.eastmoney.com, 2026-10-05.

  • People’s Daily commentary urges faster buildout of China’s domestic market · covered by 3 outlets

  • In a People’s Daily (人民日报; the Communist Party’s flagship newspaper) commentary, first-half domestic demand contributed 82.1% to economic growth, with final consumption expenditure contributing 46% and gross capital formation 36.1%. m.21jingji.com, 2026-10-04.
  • In the first eight months, total retail sales of consumer goods and services rose 2.5% year on year, with services retail sales up 4.9%. Securities Times, 2026-10-04.

  • The consumer goods trade-in program has cumulatively driven more than 1.55 trillion yuan in related merchandise sales and benefited over 208 million person-times. finance.eastmoney.com, 2026-10-04.

  • White House NEC director Hassett says U.S. communicating with Europe on diesel reserves · covered by 1 outlet

  • White House National Economic Council Director Kevin Hassett said that, regarding diesel, the U.S. has been communicating with Europe, according to Hassett. finance.eastmoney.com, 2026-10-02.
  • Hassett said Europe releasing reserves will have a huge impact. finance.eastmoney.com, 2026-10-02.
  • Hassett hopes there will be related news soon. finance.eastmoney.com, 2026-10-02.

Macro

  • China reports steady, orderly consumption during National Day holiday · covered by 3 outlets
  • China’s Ministry of Commerce (商务部) announced on October 4 that the national consumer market was stable and orderly, with sufficient supply and stable prices of daily necessities, according to the ministry. People’s Daily, 2026-10-05.
  • Trade-in of consumer goods drove sales of 19.63 billion yuan in the first three days of the National Day holiday, benefiting 3.483 million person-times, according to Ministry of Commerce data. People’s Daily, 2026-10-05.

  • Automobile trade-ins totaled 46,000 vehicles and drove 7.45 billion yuan in new-car sales, while home appliance trade-ins reached 1.511 million units and digital/smart product purchases reached 1.709 million units, according to Ministry of Commerce big data. m.21jingji.com, 2026-10-04.

  • New tourism projects and formats boost China’s National Day cultural-tourism spending · covered by 1 outlet

  • During this National Day holiday, multiple places in Chongqing successively launched various new projects, new formats, and new scenarios to inject new momentum into holiday cultural tourism consumption. People’s Daily, 2026-10-05.
  • In the first two days of the National Day holiday, Hong’an Town had cumulatively received 190,000 tourist visits. People’s Daily, 2026-10-05.

  • The Three Gorges Science and Technology Museum received more than 6,000 tourist visits in the first three days of the National Day holiday. People’s Daily, 2026-10-05.

  • People’s Daily highlights rural and border tourism as holiday economic focus · covered by 1 outlet

  • As of September 28, Meituan data showed that during the Mid-Autumn and National Day period, bookings for homestays of 4 to 6 consecutive nights on the platform increased 24% year-on-year, with notable growth in county-level destinations. People’s Daily, 2026-10-05.
  • In Jingxi, a border city between China and Vietnam, 19 townships and 26 schools participated in making a total of 46 sets of large lanterns. People’s Daily, 2026-10-05.

  • In 2018, Longji Terraced Fields were recognized by the United Nations Food and Agriculture Organization as a Globally Important Agricultural Heritage System, according to the FAO. People’s Daily, 2026-10-05.

  • China’s National Day travel shifts toward experience-driven trips · covered by 1 outlet

  • During the National Day peak in Luoyang, Henan, about 5,000 makeup stylists were on duty, each completing an average of 6 Hanfu makeup sets per day, with 7 to 9 hairpins per set, totaling over 200,000 hairpins a day. m.21jingji.com, 2026-10-05.
  • Luoyang had about 680 travel photographers on duty around scenic areas, each pressing the shutter about 1,400 times daily, totaling over 900,000 shots per day. m.21jingji.com, 2026-10-05.

  • At Beijing Shougang Park’s blast furnace, nearly 30 VR experience projects ran at full capacity during the holiday, with the latency of VR experience controlled within 0.02 seconds. m.21jingji.com, 2026-10-05.

  • China’s National Day box office tops 600 million yuan as ‘film+’ drives consumption · covered by 3 outlets

  • China’s 2026 National Day holiday box office (October 1–7), including presales, surpassed 600 million yuan, according to online platform data. m.21jingji.com, 2026-10-04.
  • China’s annual box office for the year exceeded 30 billion yuan, and as of the end of September, China added a net 438 cinemas and 2,632 screens, bringing total screens to nearly 96,000, the most in the world. finance.eastmoney.com, 2026-10-03.

  • Detective’s Trace ranked first in the holiday period box office with more than 200 million yuan. finance.eastmoney.com, 2026-10-03.

  • US August goods trade deficit hits $132.6 billion, highest since early last year · covered by 1 outlet

  • The US August goods trade deficit hit $132.6 billion, up 11.5% month over month, the highest since early last year, exceeding the market expectation of $115 billion by nearly $18 billion, according to the US Department of Commerce. finance.sina.com.cn, 2026-10-05.
  • A research estimate says stripping out AI-boom imports would reduce the US 2025 goods trade deficit by nearly $194 billion. finance.sina.com.cn, 2026-10-05.
  • The Atlanta Fed model estimates that net exports will drag third-quarter GDP growth by 1.37 percentage points, worse than the 1.14 percentage point drag in the second quarter, according to the Atlanta Fed. finance.sina.com.cn, 2026-10-05.

Company

  • Tyson Foods cuts full-year guidance as beef losses push shares to 60-day low · covered by 1 outlet
  • Tyson Foods (TSN) intraday stock price hit a 60-day low on October 1. Economic Observer, 2026-10-05.
  • Tyson’s beef business full-year loss guidance widened. Economic Observer, 2026-10-05.

  • Tyson’s revenue growth guidance was lowered to 1.5%–2.0%, and the company is closing some factories and laying off about 3,200 people. Economic Observer, 2026-10-05.

  • Cheche Technology H1 results decline; director equity awards replaced with cash · covered by 1 outlet

  • Cheche Technology (车车科技; a Chinese auto-insurance technology platform) reported first-half revenue fell 34.4% year on year to 885 million yuan, according to the company. Economic Observer, 2026-10-05.
  • Its first-half net loss widened 72.3% year on year to 44.1 million yuan, and the company made a credit loss provision of 35.1 million yuan, according to the company. Economic Observer, 2026-10-05.

  • Cheche Technology halved its full-year net revenue guidance from 3.0–3.2 billion yuan to 1.5–1.8 billion yuan, according to the company. Economic Observer, 2026-10-05.

  • Bank of China helps Korea Development Bank issue 3 billion yuan dim sum bond · covered by 2 outlets

  • Bank of China (中国银行; a Chinese state-owned bank), as joint lead underwriter and bookrunner, successfully assisted Korea Development Bank (a South Korean policy bank) in issuing a 3-year 3 billion yuan offshore RMB bond (dim sum bond), according to Bank of China. m.21jingji.com, 2026-10-04.
  • The bond carries a coupon rate of 1.69%, and the issuance set a record as Korea Development Bank’s largest offshore RMB public bond issuance, according to Bank of China. m.21jingji.com, 2026-10-04.

  • This marks Korea Development Bank’s return to the dim sum bond market after 11 years, according to Bank of China Seoul Branch. finance.eastmoney.com, 2026-10-04.

  • Yatsen Q2 revenue growth misses expectations; shares show weak technicals · covered by 1 outlet

  • Yatsen (逸仙电商; a Chinese beauty group) reported Q2 2026 revenue up 5.1% year-on-year, missing its guidance, according to the company. Economic Observer, 2026-10-05.
  • Q2 skincare revenue rose 40.4% year-on-year and its share of revenue climbed to 71.5%, according to the company. Economic Observer, 2026-10-05.

  • Q2 color cosmetics revenue fell 35.8% year-on-year, and total Q2 revenue was 1.14 billion yuan, below the company’s prior 10%–20% guidance, according to the company. Economic Observer, 2026-10-05.

  • Euro Tech Holdings rises 2.19% to $1.40 on low volume · covered by 1 outlet

  • On September 28, Euro Tech Holdings (欧陆科仪; a Hong Kong-based environmental technology company) closed at $1.40, according to the article. Economic Observer, 2026-10-05.
  • CLWT’s stock rose 2.19% on September 28. Economic Observer, 2026-10-05.

  • CLWT’s trading volume on that day was only 8,269 shares. Economic Observer, 2026-10-05.

  • ECARX shares hit new low despite H1 revenue growth and narrower loss · covered by 1 outlet

  • ECARX (亿咖通科技; a Chinese automotive technology company) closed at $0.86 on October 2, falling 12.4% in a single day and hitting a stage low on heavy trading volume. Economic Observer, 2026-10-05.
  • The company’s first-half revenue was $357 million, compared with $323 million in the same period last year. Economic Observer, 2026-10-05.

  • Its operating loss narrowed to $19.2 million from $65.2 million a year earlier, and gross margin rose from 15.5% to 20.4%. Economic Observer, 2026-10-05.

  • Hongen posts Q2 revenue of 173.4M yuan with 17.5M yuan net loss · covered by 1 outlet

  • Hongen (洪恩; a Chinese edtech company) disclosed its Q2 results on September 29. Economic Observer, 2026-10-05.
  • Hongen reported Q2 revenue of 173.4 million yuan and a net loss of 17.5 million yuan for the quarter. Economic Observer, 2026-10-05.

  • Hongen’s quarterly revenue fell about 17.8% year on year, and average monthly active users dropped from 23.97 million a year earlier to 20.72 million. Economic Observer, 2026-10-05.

  • Shengda Tech reports $277M H1 revenue, fourth straight profitable quarter · covered by 1 outlet

  • Shengda Tech (盛大科技; a Chinese technology company) reported first-half 2026 revenue of US$277 million, up 24% year on year. Economic Observer, 2026-10-05.
  • SDA’s first-half 2026 net profit was US$3.4 million, compared with a loss of US$5.5 million a year earlier. Economic Observer, 2026-10-05.
  • Adjusted EBITDA surged 269% year on year, and the company achieved its fourth consecutive profitable quarter. Economic Observer, 2026-10-05.

Sources

30 source articles across 8 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

China’s new energy storage sector gets policy boost as investors screen low-PE growth stocks — 3 outlets

China’s highway NEV charging hits 3 million sessions, 71 million kWh in first three holiday days — 2 outlets

PBOC to conduct 1 trillion yuan outright reverse repo operation — 1 outlet

People’s Daily commentary urges faster buildout of China’s domestic market — 3 outlets

China reports steady, orderly consumption during National Day holiday — 3 outlets

Tyson Foods cuts full-year guidance as beef losses push shares to 60-day low — 1 outlet

White House NEC director Hassett says Powell should leave Fed Board — 2 outlets

New tourism projects and formats boost China’s National Day cultural-tourism spending — 1 outlet

People’s Daily highlights rural and border tourism as holiday economic focus — 1 outlet

China’s National Day travel shifts toward experience-driven trips — 1 outlet

Cheche Technology H1 results decline; director equity awards replaced with cash — 1 outlet

Bank of China helps Korea Development Bank issue 3 billion yuan dim sum bond — 2 outlets

China’s National Day box office tops 600 million yuan as ‘film+’ drives consumption — 3 outlets

Yatsen Q2 revenue growth misses expectations; shares show weak technicals — 1 outlet

Euro Tech Holdings rises 2.19% to $1.40 on low volume — 1 outlet

Analysis: neither China nor tariffs is the main economic driver — 1 outlet

ECARX shares hit new low despite H1 revenue growth and narrower loss — 1 outlet

Hongen posts Q2 revenue of 173.4M yuan with 17.5M yuan net loss — 1 outlet

Shengda Tech reports $277M H1 revenue, fourth straight profitable quarter — 1 outlet

Methodology: stories are clustered across Chinese outlets and ranked by breadth of corroboration and recency. Reporting is descriptive only and is not investment advice. Compiled 5 October 2026 07:29 CST.

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