March 6th, Eastmoney Financial Evening News (with News Broadcast)

Hot Topics

China’s Unique Stabilization Mechanism:

On March 6, Wu Qing, Chair of the China Securities Regulatory Commission, said at the Fourth Session of the 14th National People’s Congress during the economic press conference, “During the 14th Five-Year Plan, we will improve the unique stabilization mechanism, enrich cross-cycle and counter-cyclical adjustment methods and systems, and enhance the market’s inherent stability.”

Flexible and Efficient Use of RRR Cuts and Interest Rate Adjustments:

People’s Bank of China Governor Pan Gongsheng stated that in 2026, the central bank will implement a moderately relaxed monetary policy, flexibly and efficiently using tools like RRR cuts and interest rate adjustments, leveraging both incremental and stock policies, and integrating monetary and fiscal policies to create a favorable financial environment for a good start to the “14th Five-Year Plan.” Additionally, in capital markets, the PBOC will work with the CSRC to implement supportive policy tools, support Central Huijin to play the role of a quasi-stabilization fund, and strengthen the internal stability and synergy of the capital market.

Emerging Pillar Industries and Future Industries:

Zheng Shanjie, Director of the National Development and Reform Commission, said at the press conference that six emerging pillar industries and six future industries will be focused on. The six emerging pillar industries include Integrated Circuits, Aerospace, Biomedicine, Low-Altitude Economy, New Energy Storage, Intelligent Robots, with related output value approaching 6 trillion yuan by 2025, expected to double or more by 2030, expanding to over 10 trillion yuan. The six future industries include Quantum Technology, Biomanufacturing, Green Hydrogen and Nuclear Fusion, Brain-Computer Interface, Embodied Intelligence, 6G, which are on the brink of technological breakthroughs. Today’s future industries may become tomorrow’s emerging pillar industries.

Artificial Intelligence+:

Zheng Shanjie, Director of the National Development and Reform Commission, said on March 6 at the Fourth Session of the 14th National People’s Congress that the “AI+” initiative will be deepened, and by the end of the 14th Five-Year Plan, the scale of AI-related industries will grow to over 10 trillion yuan.

Growth Standards for the Growth Enterprise Market (GEM):

Wu Qing stated at the same press conference that a more precise and inclusive listing standard will be added to the GEM. Support will be strengthened for high-quality innovative and entrepreneurial enterprises in new consumption, modern services, and other sectors to list on the GEM. Wu Qing also mentioned that the overall plan for deepening GEM reform has been basically formed, and further improvements will be announced at an appropriate time.

Fiscal Stimulus to Boost Domestic Demand:

Minister of Finance Lan Fu’an said that internal demand is a key advantage of a large economy. Although China’s economy is generally shifting towards higher quality and new growth drivers, contradictions such as weak demand and insufficient consumer vitality remain. To address this, the central government has allocated 100 billion yuan this year to implement a package of fiscal and financial policies to promote domestic demand, creating a transmission chain of fiscal and financial policies, and mobilizing larger social resources to focus on expanding demand in key areas. This is in addition to the 250 billion yuan policy of old-for-new consumer goods launched this year, which is more aggressive than last year.

Major Energy Projects:

Zheng Shanjie, Director of the National Development and Reform Commission, said that during the 14th Five-Year Plan, long-term strategic projects will be implemented, such as the Yarlung Zangbo River hydropower project, the “Shago Desert” new energy base, offshore wind power bases, and other trillion-yuan-level energy projects. Major transportation projects like the Three Gorges new shipping channel will also be advanced, and the “Eight Vertical and Eight Horizontal” high-speed rail main corridors and national highway network will be basically completed.

Crude Oil Prices:

Qatar warned that Middle East conflicts could force Gulf energy exports to halt within weeks. Qatar’s Energy Minister, Saad Sherida al-Kaabi, said even if the conflict ends immediately, Qatar would need “weeks to months” to resume normal delivery cycles. He predicted that oil prices could surge to $150 per barrel within two to three weeks, and natural gas prices could rise to $40 per million British thermal units. As a result, WTI crude futures briefly hit $85 per barrel on March 6, closing at $85.044, up 4.98% intraday, the highest since April 2024. Brent crude rose 3.27% to $88.203, also reaching a new high since April 2024.

Strict Law Enforcement Against Investor Harmful Behaviors:

Wu Qing emphasized at the same press conference that efforts will be made to tighten the safety net for investor rights, streamline channels for investor rights protection and remedies, improve dispute resolution pathways, and promote typical civil compensation cases such as class actions and pre-paid compensation. The regulation of listed companies, major shareholders, actual controllers, and intermediaries will be strengthened, lawfully cracking down on behaviors like hype, concept manipulation, and market manipulation that harm investors’ interests, ensuring fairness and justice in the market.

Iran Announces Use of New Generation Missiles:

An Iranian Revolutionary Guard officer said on March 6 that Iran will deploy new-generation missiles to strike U.S. and Israeli targets. According to Fars News Agency, the officer stated that Iran has been assembling and producing various missile systems, and “in the coming days, advanced long-range missiles will be used for new types of attacks.” The officer also mentioned that Iran had predicted the conflict would last some time, and in recent days, mainly used missile models over a decade old, with no deployment of the new generation yet. No further details were provided.

Foreign Ministry Response:

On March 6, Mao Ning, spokesperson for the Ministry of Foreign Affairs, hosted a routine press conference. A Reuters reporter asked about China’s discussions with Iran on safe passage for ships carrying crude oil and Qatar LNG through the Strait of Hormuz. Mao Ning responded that the Strait of Hormuz and nearby waters are vital international trade routes for goods and energy, and maintaining regional security and stability is in the common interest of the international community. China urges all parties to immediately cease military actions, avoid further escalation, prevent regional instability, and minimize impacts on global economic development.