Shanghai

On September 29, the combined trading volume of the Shanghai and Shenzhen stock exchanges fell sharply, with the first half-hour volume contracting by over 160 billion yuan compared to the prior session, and the full-day volume forecast below 1.3 trillion yuan. This followed several days of high turnover, including 1.7 trillion yuan on September 28 and 1.65 trillion on September 24, according to data from Cailianshe, Jin10, and East Money.

12 reports · 4 sources · Updated Sep 29, 02:01 AM UTC

Miao Chuan, a former Vanke marketing executive, has left Greentown China after two years, replaced by veteran insider Wu Tao. His departure follows internal tensions over marketing philosophy and the underperformance of the Chaoming Waitan luxury project. Greentown is shifting its Shanghai strategy from high-cost downtown land acquisitions to lower-risk suburban plots in Qingpu, Jiading, and Pudong.

11 reports · 7 sources · Updated Sep 28, 06:42 AM UTC

Shanghai received 7.1704 million tourists during the three-day Mid-Autumn Festival holiday, with hotel occupancy at 60.49%. The city leveraged the concurrent 48th World Skills Competition to boost tourism, setting up nearly 100 service points with multilingual maps and over 200 scenic spot discounts. Events included Tang-style gatherings, lantern festivals, and the Shanghai International Light and Shadow Festival. Tongcheng Travel reported a 17% year-on-year increase in local scenic spot ticket bookings.

5 reports · 4 sources · Updated Sep 28, 02:32 AM UTC

The Shanghai Stock Exchange (SSE) recently organized an “International Investors On-Site Research of Listed Companies” event, bringing nearly 20 asset management firms from the UK, France, Singapore, and other countries to visit nine sci-tech innovation board companies in Shanghai and Hangzhou. The visits focused on first-half 2024 performance and medium- to long-term plans. Separately, Wind data shows 640 foreign institutions conducted 5,949 research visits to A-share companies this year, concentrated in technology, consumer, and healthcare sectors.

9 reports · 7 sources · Updated Sep 27, 11:00 PM UTC

JD.com opened its first 101HOME global flagship store in Shanghai’s Jing’an Temple commercial district on September 28. The 10,000-square-meter, fully self-operated store integrates furniture, smart appliances, home customization, and decoration services with dining, art, and AI tech experiences. It features 33 “Dream Home” showrooms, over 1,000 brands including 30 international brands debuting in China, and more than 15,000 curated products. The store targets middle-class consumers aged 25-45 and offers T+1 delivery in Shanghai. JD.com founder Liu Qiangdong personally reviewed the project, viewing it as a long-term strategic investment.

10 reports · 7 sources · Updated Sep 27, 04:32 AM UTC

On September 24, the Shanghai Financial Regulatory Bureau issued measures to promote AI in banking and insurance, proposing a pilot for generative AI large models in finance. The policy encourages institutions to deploy customer-facing AI in controlled environments, develop vertical domain models, and strengthen outsourcing risk management. It also outlines a tiered regulatory framework with fault-tolerance mechanisms.

39 reports · 13 sources · Updated Sep 27, 01:43 AM UTC

A Shanghai court accepted a bankruptcy liquidation petition against Shanghai Zhonglu Group, the core investment platform of financier Chen Rong, after it failed to repay debts. The group’s stake in listed subsidiary ST Zhonglu fell from 38.88% to 6.79% since 2020 due to judicial auctions. Separately, regulators found Chen Rong and related parties occupied 12.48 million yuan of ST Zhonglu funds, with 7.98 million yuan still unrepaid.

15 reports · 9 sources · Updated Sep 26, 02:12 AM UTC

Shanghai State Investment Company has invested over 30 billion yuan in the biopharmaceutical sector, with approximately 70% allocated to early-stage and small-scale enterprises, Vice President Lu Wen announced at the Shanghai State Investment Biopharmaceutical Industry Ecosystem Conference. By end of August, three major fund-of-funds had invested nearly 10 billion yuan in 36 sub-funds, achieving a leverage ratio of about six times. The company is exploring a grant-to-investment pilot and collaborating with hospitals and research institutions. Over 40 entities signed agreements at the conference.

7 reports · 3 sources · Updated Sep 25, 04:04 PM UTC

Laopu Gold, a Chinese luxury gold jewelry brand, opened its largest domestic flagship store at Shanghai's Plaza 66 on September 25, 2025. The 350+ square meter store is part of a retail upgrade that began in early 2026, renovating over ten stores in top-tier malls. The store features a 'Chinese Study' design theme and an exhibition of goldware pieces. The brand first entered Plaza 66 in October 2025.

9 reports · 7 sources · Updated Sep 25, 12:25 PM UTC

Wufangzhai (603237.SH), a Chinese food company, announced on September 24, 2025, plans to sell a 124-square-meter office property in Shanghai's Putuo District for 4.1 million yuan to an unrelated party named Wu. The board unanimously approved the sale, stating it aims to optimize asset structure and improve capital efficiency. This marks the 13th property sale since December 2025, with previous 12 sales generating cumulative profits of approximately 11.2045 million yuan. The company reported first-half 2025 revenue of about 1.474 billion yuan (down 7.37% year-on-year) and net profit of about 200 million yuan (up 2.85%).

7 reports · 5 sources · Updated Sep 25, 07:44 AM UTC

In a September 23, 2026, exclusive interview with China's CCTV Finance, Tesla CEO Elon Musk praised the Shanghai Gigafactory's Chinese team, calling the factory a "gem." He forecast at least 1 billion humanoid robots within 10 years, potentially reaching 100 billion in 20 years. Musk also recommended visiting China, praised its high-speed rail, and advised broad education for the AI era. He acknowledged China's AI progress and predicted it could close the chip gap in two to three years.

40 reports · 17 sources · Updated Sep 24, 04:00 PM UTC

Chinese Premier Li Qiang on September 22 inspected AI and robotics facilities in Shanghai, calling for accelerated development of emerging and future industries to strengthen advanced manufacturing. He emphasized integrating AI with manufacturing, promoting intelligent, green, and integrated development, and building a supportive innovation ecosystem with patient capital. The visit follows the National Advanced Manufacturing Conference and aligns with the 15th Five-Year Plan.

12 reports · 10 sources · Updated Sep 24, 04:00 PM UTC

On September 23, Shanghai launched “Hu Yang Bao,” a city-specific commercial pension product offered by four pilot institutions: China Life Pension, PICC Pension, Taiping Pension, and National Pension. The product features a three-year rolling principal guarantee, death benefits, and a minimum investment of 100 yuan. It aims to strengthen China’s third-pillar pension system and address Shanghai’s aging population, where over 35% of residents are aged 60+. Residents can purchase via the Suishenban platform or bank apps.

13 reports · 9 sources · Updated Sep 24, 03:00 PM UTC

The People's Bank of China Shanghai Headquarters held a meeting on September 24 to review the one-year pilot of Free Trade Zone (FTZ) offshore bonds. The meeting reported 22 issuances totaling approximately 8.6 billion yuan, with the institutional framework largely established, diversified issuers, and secondary market trading launched. The PBOC outlined five priorities: expanding issuance scale, broadening investment channels via FTU policies to attract global investors, serving the real economy, deepening market cultivation, and balancing innovation with risk management.

9 reports · 8 sources · Updated Sep 24, 02:51 PM UTC

On September 23, StarPlus Legend opened the first global flagship store of CHOUCHOU&FRIENDS at 558 Nanjing East Road in Shanghai. The 570-square-meter store, centered on Jay Chou's official anime-style IP "Brother Chou," launched 103 products across 345 SKUs. Executive Director and CFO Lai Guohui stated the store cost over 10 million yuan. The company plans to open five stores this year and five to ten more next year under a "one city, one store, one customization" strategy, with upcoming locations in Changsha, Chengdu, and Guangzhou.

7 reports · 5 sources · Updated Sep 24, 11:08 AM UTC

On September 24, the Shanghai Financial Regulatory Bureau issued 16 measures to promote AI in banking and insurance. The policy encourages vertical domain model development, data governance, and a pilot mechanism for generative AI large models. It allows gradual deployment of customer-facing AI in controlled environments, requires model registration, and proposes a tiered regulatory framework with fault-tolerance mechanisms to advance Shanghai as a fintech hub.

6 reports · 5 sources · Updated Sep 24, 08:09 AM UTC

Southeast Network (002135.SZ) announced on September 23, 2025, a plan to invest approximately 3 billion yuan through its subsidiary to build the Shanghai Songjiang Ice and Snow Sports Complex in Songjiang District, Shanghai. The project includes a 76,000-square-meter competition-grade indoor ski resort, hotels, and commercial space, with construction expected from June 2027 to December 2029. The company reported a 13.84% revenue decline and a 31.92% net profit drop in first-half 2025, with cash reserves of only 1.72 billion yuan. Land has not yet been acquired, and the project remains in early planning stages.

13 reports · 10 sources · Updated Sep 24, 08:04 AM UTC

Shanghai's second-hand housing market has seen a broad price recovery since early 2024, with agents reporting increases of 8% to 20% in districts like Dongwaitan and Shanghai West Station. Bargaining room has narrowed from 15% to near zero, and low-priced listings have been absorbed. National Bureau of Statistics data shows prices rose month-on-month for seven consecutive months from February to August 2024. Analysts attribute the rebound to policy easing and improved confidence, characterizing it as a "weak recovery with strong divergence."

5 reports · 4 sources · Updated Sep 24, 01:40 AM UTC

Chinese Premier Li Qiang opened the 2026 WorldSkills Conference in Shanghai on September 23, calling for increased investment in skills and universal AI education. The concurrent 48th WorldSkills Competition attracted nearly 1,400 competitors from 68 countries and regions, an unprecedented scale. Li proposed a World Skills Innovation Center and expanded Belt and Road skills cooperation. Malaysian PM Anwar Ibrahim and WorldSkills President Chris Humphries attended, praising China's contributions. About 1,900 global representatives participated.

9 reports · 4 sources · Updated Sep 23, 06:17 PM UTC

Shanghai crude oil futures on the Shanghai International Energy Exchange experienced extreme volatility, with the SC 2611 contract plunging 9.12% intraday to 731.6 yuan per barrel. Other contracts fell between 2.94% and 7.99% on different days, while some sessions saw rebounds of over 5%. No specific catalyst was reported.

14 reports · 4 sources · Updated Sep 23, 01:55 PM UTC

On September 23, 2024, Tongji Technology (600846.SH) announced its wholly-owned subsidiary, Shanghai Tongji Construction Co., Ltd., in a joint venture with Shanghai Tianhua Architectural Design Co., Ltd., won the general EPC contract for a commercial housing project on plot 3-02-01 in Jinshan New City, Shanghai. The total bid price is 810 million yuan, with a construction period of 750 days. The company stated the long timeline limits impact on current-period revenue and profit.

6 reports · 6 sources · Updated Sep 23, 11:20 AM UTC

Chinese sportswear giant Li-Ning opened its first global flagship Dragon Store on Shanghai's Nanjing East Road on September 21, launching its full Gold Label product line targeting the functional business commuting segment. The premium line features understated designs, muted colors, and technology shared with Chinese Olympic team equipment. The company plans nationwide Dragon Store expansion by 2028, leveraging its partnership with the Chinese Olympic Committee.

8 reports · 6 sources · Updated Sep 23, 08:41 AM UTC

Hong Kong-listed New World Development announced on September 21 a proposal to spin off its Shanghai K11 Art Mall and K11 ATELIER office tower into a publicly traded commercial real estate investment trust (C-REIT) on the Shanghai Stock Exchange. The SSE accepted the application on September 19. The REIT targets a fundraising scale of approximately 3.818 billion yuan ($530 million). New World Development will retain a 20% stake, with external investors taking 80%. Net proceeds of about 3.24 billion yuan will be used for debt repayment and deleveraging. The company will continue managing the property under the K11 brand.

10 reports · 9 sources · Updated Sep 23, 06:01 AM UTC

Chinese property stocks in Hong Kong and mainland China surged on September 23, led by Ronshine China (up over 34%) and Vanke (up over 14%), driven by policy speculation and a Goldman Sachs expert forecast of a supply shortage from March 2027. JPMorgan warned the rally is speculative and could sell off if no national mortgage subsidy is announced before National Day. The rally follows the August 28 multi-ministry housing reform package, a September 18 Ministry of Housing statement that the market has entered a "stock era" with second-hand transactions at 52% of total, and a September 20 revised Housing Provident Fund regulation expanding withdrawal scenarios.

7 reports · 7 sources · Updated Sep 23, 05:49 AM UTC

On September 21, Shanghai concluded its ninth batch of centralized land auctions, selling three residential-commercial plots for a total of 12.911 billion yuan. The Pudong Jinqiao plot drew the highest premium at 29.65%, won by CITIC Pacific. A Jing'an Daning plot sold at a 5.48% premium to a Xiamen Xiangyu-C&D Real Estate consortium. A Huangpu Laoximen plot, the first publicly auctioned residential land in the district in 12 years, sold at its reserve price of 3.888 billion yuan to China Overseas Land & Investment. Analysts cited by multiple sources attributed the divergence to China's August 28 policy requiring priority for presale of completed homes, which extends capital lock-up periods and deters all but top state-owned enterprises.

14 reports · 9 sources · Updated Sep 23, 01:35 AM UTC

On September 21, Shanghai concluded its ninth batch of residential land auctions for 2026, selling three plots in Huangpu, Jing'an, and Pudong for a total of approximately 12.9 billion yuan. The Pudong Jinqiao plot drew the most competition, with CITIC Pacific winning after 143 rounds at a 29.65% premium. A Huangpu Laoximen plot sold at its reserve price of 3.888 billion yuan to China Overseas Land & Investment, while a Jing'an Daning plot was won by a Xiamen Xiangyu and C&D joint venture at a 5.48% premium. Analysts attribute the divergent bidding to developers' cautious stance following the August 28 policy adjustment, which requires factoring presale capital costs into land acquisition budgets.

28 reports · 17 sources · Updated Sep 22, 11:10 AM UTC

As of September 22, Shanghai has registered four new generative artificial intelligence services, bringing the cumulative total of registered generative AI services in the city to 240. The announcement was made by the Shanghai Cyberspace Administration. This follows a previous update on September 17, when 12 services were registered, bringing the total to 236 at that time.

6 reports · 4 sources · Updated Sep 22, 09:23 AM UTC

China's new policy for multinational corporations to centrally manage cross-border domestic and foreign currency funds took effect on September 14, 2026, expanding a pilot program nationwide. The first eight firms in Shanghai completed filings, centralizing over 500 billion yuan in external debt and over 80 billion yuan in overseas lending quotas. First-batch cases also launched in Tianjin, Zhejiang, Fujian, Shandong, Chongqing, and Sichuan. Foreign banks including HSBC, JPMorgan, and Citibank participated as cooperative banks.

10 reports · 9 sources · Updated Sep 22, 06:44 AM UTC

On September 21, the Shanghai Development and Reform Commission published the 15th batch of its 2026 plan for energy-saving, carbon-reduction, and emission-reduction special funds and ultra-long-term special treasury bonds. The plan allocates 959.536556 million yuan in municipal special funds and 160.914184 million yuan in ultra-long-term special treasury bonds. Funding supports vehicle scrapping and replacement, industrial restructuring, waste sorting, new energy sanitation vehicles, biodiesel from kitchen waste oil, early scrapping of China IV diesel vehicles, sewage pipe repair, and crop straw utilization.

6 reports · 6 sources · Updated Sep 21, 06:58 AM UTC

China’s Shanghai and Shenzhen stock markets recorded combined trading volumes exceeding 1 trillion yuan for the 324th consecutive day, with a peak of 2.0771 trillion yuan on September 18. Daily volumes fluctuated between 1.5 and 2.1 trillion yuan over the reported period, reflecting sustained high market activity and liquidity in the A-share market.

7 reports · 2 sources · Updated Sep 21, 05:28 AM UTC