China’s CPI Rises 0.3% Year-on-Year in October, Driven by Food Price Increase

In October 2024, national consumer price index(CPI) rose 0.3% year-on-year. Among which, urban areas and rural areas rose by 0.2% and 0.3%; food prices rose by 2.9% and non-food prices dropped by 0.3%; prices of consumer goods increased by 0.2% and prices of services rose by 0.4%. From January to October, the nation’s consumer prices increased by 0.3% on average compared to the same period of the previous year.

On a month-to-month basis, the national CPI decreased by 0.3% in October. Among them, both urban and rural areas decreased by 0.3%; food prices fell by 1.2% while non-food prices remained stable; consumer prices decreased by 0.4% while service prices remained stable.

In October, the price of food and tobacco rose by 2.0% year-on-year, contributing to an increase of approximately 0.56 percentage points in the CPI. Prices in the other seven major categories all rose on a year-on-year basis. Specifically, prices for other goods and services, clothing, and healthcare increased by 4.7%, 1.1% and 1.1%. Prices for education, culture, and entertainment increased by 0.8%, meanwhile prices for living goods and services rose by 0.1%. However, Prices for housing, and transportation and communication fell by 0.1% and 4.8%.

Data Source: https://www.stats.gov.cn/sj/zxfb/202411/t20241109_1957353.html

Individual A-Share Account Openings Surge to Record Highs in October

The Shanghai Stock Exchange website reports a remarkable surge in individual A-share account openings in October, reaching 6.8397 million, the highest monthly level since June 2015 and the third-highest on record. This figure brings the cumulative number of individual A-share accounts to over 365 million by the end of October. The number of new accounts opened in October exceeded the combined total for May through September, reflecting a level of retail investor enthusiasm not seen in over eight years.

This uptick in investor activity is not limited to the stock market alone. New mutual fund accounts in October also rose sharply, reaching 546,500, which surpassed the total of new fund accounts opened from July to September. Many securities firms reported hundreds of thousands of new account openings, underscoring the broad increase in retail investor participation across financial products. In response, securities firms are actively enhancing their digital platforms and customer engagement efforts to meet the rising demand.

October’s surge also signals a growing shift towards diversified investment strategies, with investors increasingly looking to participate in a broader range of financial products beyond traditional savings. As the Shanghai and Shenzhen exchanges continue to attract interest, this trend suggests a robust phase of retail investor engagement, aligning with a more dynamic landscape in China’s capital markets.

Shenzhou XVIII Crew Returns to Earth, Concluding Six-Month Mission on Tiangong Space Station

The crew of China’s Shenzhou XVIII mission returned to Earth early on November 4, wrapping up a six-month mission aboard the Tiangong space station. The Shenzhou XVIII return capsule, carrying mission commander Senior Colonel Ye Guangfu and crew members Lieutenant Colonel Li Cong and Lieutenant Colonel Li Guangsu, landed at 1:24 am local time at the Dongfeng Landing Site in the Gobi Desert, Inner Mongolia, after a return journey of more than nine hours.

This mission marked Ye’s second spaceflight and the first for his two crewmates. They were the seventh team to reside the Tiangong space station, taking over from the Shenzhou XVII crew in late April. During their stay, the crew conducted two spacewalks to install and adjust equipment outside the station and completed numerous scientific and technological experiments.

Following this mission, Ye Guangfu now holds the record among Chinese astronauts for the longest cumulative time in space, with a total of 374 days across two missions.

ByteDance Dismisses 103 Employees Amid Rising Concerns Over Corruption in the Digital Era

On November 5, ByteDance issued its latest Corporate Discipline and Professional Ethics Committee Circular, reporting the termination of 103 individuals, including contractors and interns, due to legal violations. Among those, 11 are under investigation by public security authorities for suspected criminal activities.

In today’s digital era, corruption within Internet companies is increasingly prevalent, in the light of the vast scale of these organizations and the opacity that often surrounds their operations. Unlike traditional corruption, which typically involves key areas such as executive management, sales, finance, and product distribution, corruption in Internet companies aligns with the industry’s unique characteristics—such as operational services, traffic monetization, and data rights. The monopolistic influence held by large Internet platforms is sometimes exploited by employees seeking personal gain, with such activities often occurring under the radar.

The rapid expansion of the Internet sector has presented challenges to systemic integrity and governance, making it difficult to effectively manage corrupt practices. Virtual assets, which are prevalent across digital marketplaces—including gaming and e-commerce—serve various functions, such as arbitrage and promotional efforts to drive traffic. This rise in virtual assets has opened new channels for unethical practices, highlighting an evolving landscape for corruption in the digital marketplace.

Restrictions on HIMO Photos Studio’s Retouched Images for Official ID Use Tighten in China

HIMO Photos Studio, a sought-after photography brand in China known for its beautifully retouched ID photos, wedding registration photos, and professional portraits, is now facing growing limitations on the use of its enhanced images for official identification purposes. The studio, which meets a strong consumer demand for photogenic photos, is particularly popular among customers seeking a polished appearance in their photos.

Recently, authorities in Fushun, Liaoning province, have prohibited students from using HIMO’s retouched images for exam admission cards in the 2025 master’s degree entrance exams. The Hangzhou Public Security Bureau also issued a public notice that any photos modified with beauty filters or other editing tools, including those from HIMO, would not be accepted for entry and exit documents. The examination center in Hangzhou further specified that images for admission cards should avoid heavy makeup and digital editing, citing the need for accurate identity verification during exams and enrollment.

These restrictions highlight a growing official stance in China to ensure authenticity in photos used for government documentation. While enhanced photos fulfill a personal preference for many consumers, authorities aim to maintain stricter standards for official identification, posing new challenges for popular studios like HIMO.