Business Brief (Oct. 30): China Shifts Property Policy
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China shifts property policy in new Five-Year Plan
The recommendations for China’s 15th Five-Year Plan reframe real estate policy as a matter of “livelihood security,” shifting the focus from market regulation and risk prevention to systemic reconstruction and high-quality development.
The U.S. Federal Reserve cut its benchmark interest rate by 25 basis points, in line with market expectations. The central bank also announced it will end the reduction of its securities holdings, known as quantitative tightening, on Dec. 1. Fed Chair Jerome Powell indicated that a rate adjustment in December might be paused due to a lack of economic data caused by the government shutdown.
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- China’s new Five-Year Plan shifts real estate toward “livelihood security” and launches a 51 billion yuan fund for strategic emerging industries.
- The U.S. Federal Reserve cut rates by 25 basis points and will end quantitative tightening in December.
- Google will restart a U.S. nuclear plant to power AI; OpenAI restructured with Microsoft now holding a 27% stake.
- Rio Tinto
- Rio Tinto's new CEO has outlined the development plans for the Simandou iron ore mine. The plans also detail China's involvement in the project, indicating a significant role for the country in this venture.
- Google is partnering with an energy company to restart a decommissioned U.S. nuclear power plant. This initiative aims to meet the increasing electricity demands generated by Google's artificial intelligence operations.
- OpenAI
- OpenAI has recently completed a capital restructuring. As a result of this restructuring, Microsoft now holds a 27% stake in the company.
- Microsoft
- Microsoft holds a 27% stake in OpenAI following a capital restructuring. This information is part of the "NEWS SUMMARY" section, highlighting significant business developments.
- China Rare Earth Resources And Technology Co. Ltd.
- China Rare Earth Resources And Technology Co. Ltd., a Shenzhen-listed company, announced a significant 195% year-on-year increase in net profit for the first three quarters. This growth was primarily attributed to a rebound in the prices of rare earth products.
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