Reported November 12, 2026. The market figures below are for the November 11 close.
China’s central bank said it would advance a reform of loan-interest-rate pricing benchmarks, moving beyond predominantly referencing the loan prime rate (LPR). In its third-quarter 2026 monetary policy report, released November 11, the People’s Bank of China said it would guide financial institutions to explore floating-rate loans linked to DR001, an overnight interbank funding rate. The report described a policy direction, not an implemented change to loan contracts.
The bank also said it would maintain a moderately accommodative monetary policy, keep liquidity ample and adjust its tools as economic and financial conditions warrant. It said it would monitor policy changes at major overseas central banks and developments in domestic bank liquidity and money markets.
Other developments in the original November 12 roundup included:
- Offshore-trust tax: Xinhua reported, citing China’s State Taxation Administration on November 11, that taxpayers had declared more than 160 billion yuan in individual income tax on offshore-trust income. More than 120 billion yuan was collected in October, contributing to nearly 90% growth in nationwide individual income tax revenue that month. A July 24 notice had provided a 90-day period to declare and pay the tax without late-payment charges; the tax authority said that transition had ended.
- Investor protection: According to Securities Times, a China Securities Regulatory Commission official said the regulator would continue to support representative litigation and advance compensation for investors. Discussing the Dongfangtong securities misrepresentation case, the official said the company had committed fraudulent issuance and misrepresentation and had already received an administrative penalty.
- Shipbuilding: China State Shipbuilding announced on November 11 that its Dalian Shipbuilding subsidiary and China Shipbuilding Trading had signed contracts for 20 very large crude carriers of 307,000 tonnes each. Four were ordered by a COSCO Shipping Energy subsidiary and 16 by a COSCO Shipping Development subsidiary, with deliveries planned for 2029–2030.
At the November 11 close, the Shanghai Composite rose 0.46%, the Shenzhen Component 1.32% and China’s ChiNext index 3.11%. In New York, the Dow rose 0.49% to 52,486.49, the S&P 500 gained 1.31% to 7,619.38 and the Nasdaq Composite climbed 1.60% to 25,466.19.
