The 18th session of the Standing Committee of the 14th National People's Congress voted on October 28 to approve a decision to amend the Cybersecurity Law, which will take effect on January 1, 2026. The amended Cybersecurity Law clarifies that the state supports research into basic theories of artificial intelligence and the development of key technologies such as algorithms, promotes the development of infrastructure such as training data resources and computing power, improves ethical standards for artificial intelligence, and strengthens risk monitoring, assessment, and security supervision. (Xinhua News Agency)

A study by the National Bureau of Economic Research (NBER) concluded that Musk's "highly controversial and partisan behavior" has directly resulted in Tesla losing between 1 million and 1.26 million vehicle sales in the United States. Tesla's recent sales decline stems from much more than "increased competition" or "satisfaction of pent-up demand." Data shows: Before October 2022, counties with a higher proportion of Democratic voters saw a continued rise in preference for Tesla, more pronounced than in Republican-dominated areas. This aligns with historical patterns—electric vehicle adoption has previously been higher among liberal consumers. After October 2022, the trend reversed dramatically. With Musk's increasing political activity—including "relaxing content moderation for far-right and extremist speech" and large-scale political donations—Democratic-leaning counties began to see a significant decline in Tesla purchases. Original text

According to Reuters, Amazon plans to lay off up to 30,000 employees, potentially starting as early as Tuesday. These layoffs, representing approximately 10% of the company's white-collar workforce and its largest since 2022 (27,000 employees), will affect business units such as human resources, cloud computing, and advertising. Amazon's CEO stated in June that the increased use of AI tools could lead to further layoffs, particularly in areas that automate repetitive tasks.

The Shanghai Composite Index broke through 4,000 points, reaching a new 10-year high. The Shenzhen Component Index rose 0.2%, and the ChiNext Index rose 0.7%.

CME Group data showed that a large block trade involving 40,000 November-expiring contracts was completed last Thursday, betting that the secured overnight financing rate (SOFR) in November would average less than 9 basis points above the expected federal funds rate. The trade marked a shift in trend this year, reflecting increased market expectations that the Federal Reserve will announce the end of its balance sheet reduction at the end of its policy meeting on Wednesday.

Qualcomm launched the AI200 and AI250 artificial intelligence chips, competing with Nvidia in the data center market. #Market Qualcomm's intraday gains extended to 7%.

The State Administration of Taxation stated: To date, more than 6,500 platform companies have submitted relevant tax-related information, exceeding 95% of the total number of platform companies that should submit such information. The overall compliance rate among internet platform companies and related entities is high. In accordance with the relevant requirements of the "Regulations on the Submission of Tax-Related Information by Internet Platform Companies" issued by the State Council, starting October 1st of this year, platform companies will formally submit the identity and income information of operators and employees within their platforms to the tax authorities for the first time. (Xinhua News Agency)

According to insiders, in order to prevent the market from confusing semi-solid-state batteries with solid-state batteries, relevant authorities are preparing to issue a new document to uniformly name "semi-solid-state batteries" as "solid-liquid batteries." (Yicai)

U.S. Energy Secretary Wright stated that the United States will double its natural gas exports over the next five years and could double again in the next five to ten years if demand persists. The United States hopes to achieve nuclear fusion power generation and connect it to the power grid within the next eight to 15 years.

#Market Japanese and South Korean stock markets opened higher on Monday, hitting new highs. The Nikkei 225 index broke through 50,000 points for the first time in history, and the KOSPI index broke through 4,000 points.