Tech Brief (Oct. 29): China Unveils Five-Year Plan to Foster Emerging, Future Industries
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15th Five-Year Plan to foster emerging and future industries
The Central Committee of the Communist Party of China on Oct. 28 released its full recommendations for the 15th Five-Year Plan, which call for cultivating emerging and future industries. The plan aims to build up strategic emerging industry clusters, including new energy, new materials, aerospace and the low-altitude economy. It also lays out plans for future industries, identifying quantum technology, biomanufacturing, hydrogen and nuclear fusion energy, brain-computer interfaces, embodied intelligence and 6G as new economic growth drivers.
XiAn Eswin Material Technology Co. Ltd. (688783.SH) listed on the Shanghai Stock Exchange’s STAR Market on Oct. 28, becoming the first unprofitable company to go public since China implemented new reform measures for the board. The debut marked the year’s second-largest IPO on the A-share market and the largest on the STAR Market. Shares of Xian Eswin closed at 25.75 yuan on their first day of trading, up 198.7% from the issue price, giving the company a market capitalization of 104 billion yuan ($14.6 billion).
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- China’s 15th Five-Year Plan promotes strategic industries, targeting clusters in new energy, quantum tech, and 6G.
- XiAn Eswin became the first unprofitable company to list on STAR Market under new reforms, with a debut market cap of 104 billion yuan.
- ZTE’s Q3 revenue rose 5.1% to 29 billion yuan, but net profit fell 87.8%; China also tightened livestream tipping rules and named 42 infringing apps.
- XiAn Eswin Material Technology Co. Ltd.
- XiAn Eswin Material Technology Co. Ltd. (688783.SH) recently listed on the Shanghai Stock Exchange’s STAR Market, becoming the first unprofitable company to go public under new reform rules. This IPO was the second-largest on the A-share market and the largest on the STAR Market this year. On its debut, shares closed at 25.75 yuan, a 198.7% increase from the issue price, resulting in a market capitalization of 104 billion yuan ($14.6 billion).
- ZTE Corp.
- ZTE Corp.'s third-quarter revenue increased by 5.1% year-on-year to 29.0 billion yuan ($4.0 billion). However, its net profit saw a significant drop of 87.8% to 264 million yuan, with a net loss of 225 million yuan after deducting nonrecurring items.
- ZTO Express Co.Ltd.
- ZTO Express Co.Ltd. was summoned by the State Post Bureau of China for operational irregularities. These included arbitrarily adjusting operating rules, providing poor service, and failing to adequately protect couriers' rights. ZTO was ordered to improve service quality, strengthen compliance, and protect workers' rights, to which the company pledged compliance.
- Pacific Realtor
- Pacific Realtor's app was named by the Ministry of Industry and Information Technology for infringing on user rights. This action is part of a joint government campaign addressing the illegal collection and use of personal information by apps and software development kits.
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