Morning Report

March 4, 2026, Wednesday, Lunar New Year’s Day 16, Good Morning!

1. The number of generative AI users in our country has reached 602 million, with a penetration rate of 42.8%, making it the country with the largest number of AI patents worldwide.

2. Nanshan District in Shenzhen has become China's first trillion-yuan urban district. China has a total of 29 cities with GDP exceeding one trillion yuan, with Wenzhou and Dalian being newly added.

3. More than twenty automakers have launched long-term low-interest car purchase plans lasting seven years. These ultra-long loans are not bank loans but are led by automakers’ leasing subsidiaries to avoid the regulatory restrictions of traditional five-year car loans.

4. The "Three Big Oil" (China National Petroleum, China National Offshore Oil, China Petroleum & Chemical Corporation) stocks hit the daily limit for the second consecutive day, driving over 50 oil and gas stocks to the limit, with multiple oil and gas ETFs also reaching the daily limit.

5. Spot silver prices fell by 10.09% intraday, quoted at $80.30 per ounce, while spot gold declined by 2.36% to $5196.61 per ounce.

6. The People's Bank of China conducted a net injection of 50 billion yuan through open market government bond transactions in February 2026. During the same period, the Medium-term Lending Facility (MLF) saw a net injection of 300 billion yuan, and 7-day reverse repos saw a net withdrawal of 120.5 billion yuan.

7. Twenty-eight innovative drug companies listed on the STAR Market saw nearly 30% year-over-year revenue growth in 2025.

8. Ningxia’s first electrified railway has passed inspection, officially completing the historic shift from "internal combustion" to "electric power."

9. Several maritime insurers will cancel war risk coverage for ships operating in the Gulf region.

10. The International Atomic Energy Agency: Iran’s Natanz nuclear facility was damaged, and it is expected that there will be no radioactive consequences.

11. France will strengthen its nuclear arsenal to expand deterrence. The French ballistic missile nuclear submarine "Inflexible" is scheduled to set sail in 2036.

12. The Korea Composite Stock Price Index (KOSPI) plummeted over 4%, triggering a circuit breaker.