China Daily Briefing

Chinese automakers including BYD, Chery, and SAIC are tracking toward 12 million overseas deliveries in 2026 — a record pace buoyed by the Middle East energy shock that accelerated EV adoption in emerging markets. The go-global playbook has worked: European sales outpaced expectations even as Brussels imposed provisional tariffs. The Q4 catch: the EU negotiation window is narrowing, and any adverse ruling before year-end hits 2027 order books before the sector can pivot. EV/Mobility sector ADRs are down -0.48% on the day — underperforming but holding relative to the broader China ADR complex, which says offshore investors haven't fully abandoned the export thesis yet.

Duan Yongping — the Chinese-American billionaire investor and early Berkshire disciple — added 30,000 Kweichou Moutai shares for his third disclosed buy this year, per SCMP. The move stands out against a backdrop of sustained Moutai compression driven by anti-extravagance policy and suppressed corporate gifting. A third accumulation from a known long-duration value investor shifts the question from 'when does Moutai stop falling' to 'has the baijiu bottom already printed.' Watch Moutai's Shanghai listing (600519.SH) on October 8 re-open — if domestic buyers interpret Duan's accumulation as a sector signal, any gap-up would be meaningful confirmation that smart money bottom-fishing is real.

Prosecutors in Qingdao have formally charged Yi Huiman, the former China Securities Regulatory Commission chairman, with accepting 'especially large' bribes — marking the most senior securities regulator to face criminal prosecution in Beijing's financial-sector clean-up. Yi presided over the CSRC during the 2023-2024 equity stabilization period, so his prosecution signals the anti-corruption net is now consistently reaching apex-level regulators. Near-term implication: incoming CSRC leadership has institutional incentive to demonstrate independence via tighter enforcement of IPO quality standards and private placement rules — watch for any CSRC guidance during the Golden Week closure that sets the regulatory tone for Q4.