•Wang Yi holds talks with Saudi national security adviser Al-Aiban, who delivers Crown Prince Mohammed bin Salman's letter to Xi Jinping
Xinhua reported that on 2 November Wang Yi, a member of the Political Bureau of the CPC Central Committee and director of the Office of the Central Commission for Foreign Affairs, held talks in Beijing with Musaad bin Mohammed Al-Aiban, Saudi Arabia's minister of state, cabinet member and national security adviser. Al-Aiban delivered a letter from Crown Prince and Prime Minister Mohammed bin Salman to President Xi Jinping on bilateral relations and issues of common interest. An MFA readout posted about 21:45 said Wang called Saudi Arabia an important comprehensive strategic partner and a priority in China's Middle East diplomacy; that the regional situation had again reached a critical crossroads between war and peace; and that parties should end hostilities through dialogue, safeguard energy and shipping-lane security, and work toward a new regional security architecture serving long-term interests. A combined Xinhua dispatch also covered Wang's meeting that day with Iran's Ali Bagheri Kani (already published at chinaday.news/i/79). Xinhua English, RTHK, Reuters via Al-Monitor, Arab News and the Saudi Press Agency reported the letter and talks. Share · Copy
•Wang Yi separately meets Thai Deputy PM and FM Sihasak, Lao Deputy PM and FM Thongsavanh, and Myanmar minister U Aung Naing Oo
China's MFA posted successive readouts on 3 November: Foreign Minister Wang Yi met in Beijing with Thai Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow, Lao Deputy Prime Minister and Foreign Minister Thongsavanh Phomvihane, and Myanmar's Minister of Planning, Investment and Foreign Economic Relations U Aung Naing Oo, who were in China for the 11th Lancang-Mekong Cooperation foreign ministers' meeting. With Thailand, Wang welcomed the Anutin government's China-friendly stance, pledged preparation for high-level exchanges, AI/compute/semiconductor cooperation and joint action against online gambling and telecom fraud; Sihasak reiterated the one-China policy and readiness to make the LMC meeting and fifth leaders' meeting succeed. With Laos, Wang noted the 65th anniversary of ties and the 'Lao-China Friendship Year', urging delivery on a community with a shared future and progress on the China-Laos Railway and economic corridors; Thongsavanh pledged party-to-party exchanges and corridor implementation. With Myanmar, Wang said China supports political reconciliation and the new government's stability, urged concrete steps to protect Chinese personnel, institutions and projects, and to prevent a resurgence of Myawaddy disorder; U Aung Naing Oo thanked China for quake-recovery aid and pledged faster corridor work and anti-fraud efforts. CNA, citing MFA statements, reported Wang's same-day meetings with the three Southeast Asian officials. The LMC foreign ministers' meeting runs 3–4 November; post-meeting outcomes are still pending. The 37th APEC dual-minister meeting was also held by video the same day; Mao Ning said the video format was chosen to ensure effectiveness, with formal outcomes still pending. Share · Copy
Tuesday 3 Nov close; STAR50 -3.81% to 1,151.28; Shanghai and Shenzhen turnover about 1.70 trillion yuan. CNH full-day close about 6.6722 (Investing.com); CNY is the 3 November fixing of 6.7150 (down 4 basis points, CFETS/China News Service); the onshore yuan closed at 6.6765 at 16:30. Data: Xinhua Finance, China Economic Net, Jin10, Gelonghui, Investing.com.
•Share buyback and stake-increase relending made a permanent facility; rate cut to 1% from 1.25%; CSRC plans to ease price-support buyback rules
The People's Bank of China, together with the NFRA and CSRC, held symposiums on 2 November on the securities, funds and insurers swap facility (SFISF) and on share buyback and stake-increase relending. NBD (about 20:06), Yicai (about 20:49) and Xinhua Finance reported that the buyback relending policy would shift from a temporary arrangement to a permanent institutional facility, with the relending rate cut from 1.25% to 1%; banks would still price loans by adding a market markup and increase lending; and that SFISF operations would be conducted as appropriate with more participants and moderately lower swap fees (the 3 November SFISF tender notice was already published yesterday at chinaday.news/i/77). Officials said about 440 billion yuan of buyback/stake-increase loans had been contracted and more than 280 billion yuan disbursed; SFISF outstanding was 105 billion yuan. In a same-day Q&A the CSRC said it would work with the PBOC to use both tools fully; plans to ease price-support buybacks include allowing buybacks when a stock trades below its IPO price, lifting the six-month listing wait and the ban on open/close auction orders, and pressing firms with excess IPO proceeds or trigger conditions to buy back promptly; it also plans counter-cyclical tweaks to margin financing and faster active-ETF deployment. Bloomberg via Mint and Caixin Global also reported the rate cut to 1%, permanence of the facility and planned buyback-rule easing. Share · Copy
•PBOC raises FX reserve requirement ratio by 2 percentage points to 6% from 4%, effective 15 November
Xinhua (about 08:45, citing the PBOC WeChat account), the Beijing News (about 08:43) and China Economic Net (about 09:11) reported that, to strengthen management of foreign-exchange liquidity at financial institutions, the People's Bank of China decided to raise the FX reserve requirement ratio by 2 percentage points from 4% to 6%, effective 15 November 2026. People's Daily Online carried the Xinhua dispatch. Reuters via MarketScreener and Investing.com said the move aims to tighten dollar and other FX liquidity and slow recent yuan gains, estimating about an extra $24 billion would be withdrawn based on official FX deposit data; Lianhe Zaobao also reported the hike and cited Reuters that the offshore yuan fell nearly 0.2% against the dollar after the news. SCMP said banks would have to hold a larger share of FX deposits as reserves at the central bank, expected to tighten onshore FX liquidity and potentially ease yuan appreciation pressure. The PBOC open-market page showed trading notice [2026] No. 212 that day, but an SFISF operation-result notice was still not posted (the tender is already at chinaday.news/i/77). Share · Copy
•China markets close: Shanghai Composite down 0.82% at 3,608.10, STAR50 down 3.81%; onshore yuan ends at 6.6765
China's three major A-share indices closed lower on Tuesday 3 November. The Shanghai Composite finished at 3,608.10, down 0.82%; the Shenzhen Component at 10,876.99, down 1.21%; ChiNext at 2,391.65, down 2.73%; the CSI 300 at 4,008.87, down 0.20%; and the STAR50 at 1,151.28, down 3.81%. Xinhua Finance put Shanghai turnover at about 810.8 billion yuan and Shenzhen at about 892.6 billion yuan, or roughly 1.70 trillion yuan combined; semiconductors and computing-hardware names lagged while insurance led gains, with several broad ETFs seeing heavy afternoon volume. Xinhua English also reported the Shanghai and Shenzhen closes lower. The yuan's central parity was set at 6.7150 per dollar, 4 pips weaker (China News Service / China Economic Net citing CFETS). The onshore yuan closed at 6.6765 at 16:30, down 307 pips (Xinhua Finance, Gelonghui); the offshore yuan's full-day close was about 6.6722 (Investing.com). The issue's market table, which had carried the Monday 2 November close since the morning open, is updated to 3 November. Share · Copy
•PBOC conducts SFISF operation of 100 billion yuan; 31 institutions bid at 10 bp winning fee
The PBOC open-market operations office on 3 November issued SFISF result notice [2026] No. 1 saying that, based on participant demand, it conducted a securities, funds and insurers swap-facility operation that day for 100 billion yuan via fee bidding; 31 securities and fund companies bid, with a winning fee of 10 basis points. Xinhua said this was the third operation since the tool was created in October 2024; earlier rounds were 50 billion yuan at 20 bp on 21 October 2024 and 55 billion yuan at 10 bp on 2 January 2025, and today's participation and size exceeded both. Cailian (about 12:31), 21st Century Business Herald (about 16:23) and Xinhua.net (about 17:44) reported the result notice. The tender notice and related symposium are already at chinaday.news/i/77 and i/83. Nikkei Asia and SCMP had covered the planned operation and applications above 100 billion yuan; Reuters via TradingView reported that the central bank conducted the 100-billion-yuan swap operation. Share · Copy
