March 11th: Highlights and summaries of the front-page headlines from the four major domestic securities newspapers and important financial media

March 11 (Wednesday), today’s newspaper headlines and key highlights are as follows:

China Securities Journal

Shanghai Stock Exchange: Steadily Promote the Implementation of Various Reform Measures, Accurately Identify “Hard Technology” Companies, Further Expand the Scale of Industrial Bonds, Enrich Cross-Border Index Products

This year’s government work report has made a series of arrangements for reform and development of the capital market and serving the high-quality development of the real economy. Wu Qing, Chairman of the China Securities Regulatory Commission, on March 6 at the Fourth Session of the 14th National People’s Congress, further introduced five key areas for high-quality development of the capital market during the 14th Five-Year Plan period.

National Committee of the Chinese People’s Political Consultative Conference Member and China Baowu Chairman Hu Wangming: Increase R&D in Low-Carbon Metallurgical Technologies, Enhance Resource Security Capabilities

During this year’s two sessions, Hu Wangming, CPPCC member, Party Secretary and Chairman of China Baowu Steel Group, proposed suggestions on green and low-carbon transformation of the steel industry and development of high-quality overseas iron ore projects. Recently, in an interview with China Securities Journal, he stated that green transformation is an important direction for manufacturing upgrading, a development of new productive forces, and an objective requirement for building a modern industrial system.

Mergers and Acquisitions Activate New Pattern in Securities Industry; Professional Services Become Key to Development

Wu Qing, Chairman of the CSRC, recently clarified that efforts will be made to revise and implement regulations on securities firms, actively support leading institutions to grow stronger and larger, and promote differentiated development of small and medium-sized brokerages. The development path of the securities industry is becoming clearer. In recent years, M&A activity in the sector has accelerated significantly. Leading brokerages are enhancing core competitiveness through mergers and acquisitions, while small and medium-sized firms are exploring niche markets and regional development strategies. Several representatives and committee members suggested that securities firms can provide comprehensive, professional wealth management services based on regional enterprise needs, creating a virtuous cycle of “industry wealth creation, financial preservation, and professional wealth transfer,” ensuring long-term stable regional industrial development.

CPPCC Foreign Affairs Committee Vice Chairman Chen Siqing: Build a “Soft Link” for Cross-Border RMB Payments and Create a “New Ecosystem” for Digital Finance

The 2026 government work report emphasizes further expanding high-level opening-up, with “expanding the use of RMB internationally” listed as a key task, guiding financial reform. During the two sessions, Chen Siqing, CPPCC member, Vice Chairman of the Foreign Affairs Committee, former Party Secretary and Chairman of ICBC, shared his insights on global financial governance reform, the Cross-Border Interbank Payment System (CIPS), prospects for digital RMB, and support for enterprises going global.

Shanghai Securities News

Shanghai Stock Exchange: Steadily Expand Industry Scope Under the Fifth Listing Standard, Support Tech and Transformation-Upgrade Enterprises for Regular Financing and M&A

The 2026 government work report and the draft outline of the 14th Five-Year Plan made important strategic deployments for deepening reform of the capital market and serving high-quality development. As a key hub for serving the economy and society, how will the SSE fulfill its mission and ensure policy implementation? On March 10, in an interview with Shanghai Securities News, the SSE stated it will unwaveringly implement decisions and deployments of the Party Central Committee and State Council, faithfully carry out the CSRC’s requirements, adhere to steady progress and reform breakthroughs, and follow the path of financial development with Chinese characteristics, contributing to modernization and building a strong financial nation.

20 Key Indicators Carry Deep Meaning; “Fifteen-Five” High-Quality Development Moves Forward

The draft outline of the 14th Five-Year Plan has been submitted for review by the Fourth Session of the 14th NPC. This over 70,000-word “task book” plans the next five years’ economic and social development, detailing 20 main indicators across economic growth, innovation, people’s welfare, green low-carbon initiatives, and security, highlighting a clear focus on high-quality development.

Improve Investor Protection System and Continuously Boost Market Confidence

“Improve investor protection system” is included in this year’s government work report. Wu Qing, Chairman of the CSRC, stated at the Fourth Session of the 14th NPC that efforts will be made to better coordinate development and security, adhere to law-based strict regulation, and strengthen fundamentals to enhance trust and confidence among investors and market participants. Industry insiders believe that improving investor protection is a key part of deepening comprehensive reform of capital market financing, and ongoing system improvements will further reinforce market fairness, transparency, and expectations, boosting confidence.

Frequent Mentions of “Reform” and Focus on Breaking New Ground in Key Areas

“Reform” and “innovation” are the most frequently mentioned words in this year’s government work report, appearing 75 times. The report calls for continuous deepening of reforms in key areas, building a high-level socialist market economy system, strengthening reform efforts, and breaking down institutional and mechanism barriers to energize high-quality development.

Securities Times

Private Sector Strives! China’s Import and Export Growth Reached 18.3% in the First Two Months

Data released by the General Administration of Customs on March 10 show that in the first two months of the year, China’s goods trade import and export, measured in RMB, grew by over 10% year-on-year. Total trade value was 7.73 trillion RMB, up 18.3% from the same period last year. Exports reached 4.62 trillion RMB (up 19.2%), and imports 3.11 trillion RMB (up 17.1%). Private enterprises performed notably well.

Top 10 Brokerage Leaders Speak Out, Charting a High-Quality Development Path for Capital Markets

Recently, chairmen or CEOs of 10 leading brokerages—including CITIC Securities, Guotai Huarong Securities, Huatai Securities, GF Securities, China Galaxy Securities, Guoxin Securities, China Merchants Securities, Shenwan Hongyuan, CICC, and CITIC Construction Securities—collectively shared their insights on the government work report and the draft outline of the 14th Five-Year Plan, reflecting on their understanding and expectations.

Shanghai Stock Exchange: Promote Both Stock Reforms and Policy Planning, Support Regular Financing and M&A for Tech and Transformation-Upgrade Companies

The 2026 government work report emphasizes further reform to serve high-quality development. At the April 6 NPC session, Wu Qing explained the “five new improvements” in the context of balancing risk prevention, regulation, and high-quality growth, outlining the roadmap for high-quality development of the capital market during the 14th Five-Year Plan.

Venture Capital Takes Center Stage, Stimulating Core Tech Innovation

The 2026 government work report features strong support for venture capital development: effectively utilizing national venture capital guiding funds, vigorously developing angel and venture investments, and encouraging government investment funds to act as patient capital. Compared to previous years, this year’s statements are more specific and targeted, marking the most prominent focus on venture capital in recent government work reports.

Securities Daily

Storage Chip Prices Rise, Smartphone Manufacturers Forced to Adjust Prices

On March 10, OPPO announced a price adjustment for some products already on sale, citing rising costs of key components including high-speed storage hardware. Starting March 16, prices for certain models will be adjusted to ensure continued product quality and user experience.

AI Glasses Shipments Surge, Industry Chain Companies Accelerate Technological Innovation

According to the latest data from Omdia on March 9, global shipments of AI (artificial intelligence) glasses in 2025 reached 8.7 million units, a significant increase of 322% year-on-year. China accounts for 10.9% of the global AI glasses market, with nearly 1 million units shipped, making it the second-largest market after the US.

Private Equity New Product Filings Increased 1.5 Times YoY in February, Stock Strategies Account for Over 60%

In February, private equity securities product filings surged, with market issuance heating up. Data from Private Equity Data Platform show that 722 private equity firms filed a total of 1,366 private securities products (including autonomous and advisory products), up 151.57% year-on-year and 100.88% month-on-month.

Strengthen Systems and Innovation, Multi-Dimensional Support from Three Major Stock Exchanges to Foster New Productive Forces

Global innovation practices show that whether tech giants or innovative startups, strong support from capital markets is essential. Innovation begins with technology, thrives in industry, and is sustained by capital. During the 14th Five-Year Plan, the pace of serving tech innovation accelerated, with the “tech” component in the market further increasing. Data shows that over 90% of newly listed companies are high-tech or technology-intensive, with the tech sector’s market value share in A-shares now significantly higher than that of banking, non-bank financials, and real estate sectors.

China National Radio

2026 National Two Sessions | NPC Deputy Huang Shuibo: Antimony Industry Should Be Included in National Strategic Planning to Secure Resource Safety

During the two sessions, Huang Shuibo, NPC deputy and R&D director of Lingshui SanA New Materials Technology Co., Ltd. in Loudi, Hunan, emphasized the importance of developing the antimony industry at the national level. He suggested strengthening planning, policy support, and innovation to safeguard strategic resources and maintain China’s leading position in the global antimony industry.

Foxconn 2025 Revenue Exceeds 900 Billion RMB, Plans to Distribute 19.4 Billion RMB in Dividends

Foxconn (601138.SH) released its 2025 annual report, showing revenue of 902.887 billion RMB, up 48.22% year-on-year, and net profit attributable to shareholders of 35.286 billion RMB, up 51.99%.

Yicai Finance

“Lobster” Not Fully Cultivated, Credit Cards Are Being Maxed Out First

A developer shared on social media that his friend, using AI proxy tool OpenClaw to write programs, left the browser accessible via VNC remote desktop to the internet. A few days later, his credit card was repeatedly hacked and nearly maxed out. The post received over 100,000 views and sparked discussions in the tech community about AI proxy security.

Clearer Focus on Expanding Domestic Demand: Stimulate Internal Consumption and Expand Effective Investment

A strong domestic market is a key advantage of a large economy and provides confidence in facing various risks. The government work report has prioritized expanding domestic demand for two consecutive years. This year, it emphasizes building a robust domestic market, focusing on internal consumption and investment, and exploring new growth space for domestic demand, better leveraging China’s large-scale market advantage.

Economic Reference News

Leading State-Owned Nonferrous Metals Companies Achieved Record Profits Last Year

Recent data show that under the influence of global macroeconomic changes, rapid development of new energy industries, and resource supply constraints, nonferrous metal prices have strengthened, and industry prosperity has improved significantly. In 2025, profits of large-scale nonferrous enterprises reached 528.4 billion RMB, up 25.6% year-on-year.

From “Medicinal Use” to “Good Use” — Traditional Chinese Medicine’s Inheritance and Innovation Path Widens

With the tide rising, traditional Chinese medicine (TCM) is undergoing renewal. The 2026 government work report explicitly promotes the inheritance and innovation of TCM and the integration of Chinese and Western medicine. Industry insiders believe that from ensuring availability (“whether we have it”) to pursuing quality (“whether it is good”), China’s TCM industry is entering a new stage of high-quality development. With continuous policy support, deep research by experts, and breakthroughs in frontline enterprises, the path of TCM inheritance and innovation is broadening.

(Article source: Oriental Fortune Research Center)