Cointime update: Lenovo Group has appointed Amar Babu, currently Senior Vice President and President of Asia Pacific, as General Manager of its Mobile Business Group and President of Motorola worldwide, effective January 1, 2027. Babu will report to Luca Rossi, Executive Vice President and President of the Intelligent Devices Group, and will oversee Motorola’s global operations, including premium smartphones, personal AI and smart device ecosystems.
Cointime update: Weibo CEO Wang Gaofei said at the World Internet Conference Wuzhen Summit’s internet entrepreneurs forum that an entrepreneur’s personal IP is a long-term trust asset built through technical sharing, product philosophy and accountability, not just personal traffic. He warned against three pitfalls: promotion without communication, reasoning without empathy, and attitude without action. Users want real explanations, interactive feedback and respect, he said.
Cointime update: CFTC Chairman Mike Selig announced on Nov. 3 that single-stock perpetual futures are cleared to trade on US regulated exchanges under joint CFTC and SEC oversight. Kalshi began offering contracts on Amgen, McDonald’s, Qualcomm and Costco with up to roughly 4.9x leverage the same day. The products are classed as security futures under the Commodity Futures Modernization Act, requiring venues to hold both DCM and national securities exchange registrations.
Cointime reports: US Vice President JD Vance is seeking to build a “new right coalition” with voters disillusioned with Trump ahead of the 2028 election cycle, Fox News reported, citing sources. After Republicans’ midterm defeat, Vance published a long post on Wednesday morning outlining four tasks: ending the war, focusing on cost of living and inflation, putting America first, and changing relations with Israel. An administration official called the tasks Vance’s rallying call to the “new right.”
Cointime reports: United Microelectronics Corp. reported October sales of NT$25.2 billion, up 18% from a year earlier. The Taiwanese chipmaker’s monthly revenue figure covers its foundry operations for the month. No further breakdown of the results was disclosed.
Cointime update: Binance has completed a 98% backfill of assets stolen in a hot wallet incident and expanded its proof-of-reserves snapshot to 44 tokens, the exchange said. Coinbase stated it was unaffected by the Binance hot wallet event and that more than 99% of customer assets are held in cold storage. France’s National Assembly passed an amendment requiring declaration of self-custodied crypto assets above €100,000.
Cointime update: Heilongjiang completed its first clean electricity export transaction to Hunan, trading 245,000 kWh, Heilongjiang Power Exchange Center said. Annual contracted power exports from the province topped 20 billion kWh for the first time, with clean power exports accounting for 13.711 billion kWh, both record highs. The province’s outbound power now reaches 20 provincial-level regions across China.
Cointime update: China Development Bank sold 40 billion yuan of one-year bonds at a coupon of 1.2753%, below the 1.3000% expected, with the bid-to-cover ratio at 7.47 times. The marginal bid ratio came in at 5.74 times, indicating strong demand for the policy bank’s short-dated paper.
Cointime update: China’s Foreign Ministry declined to confirm reports that Beijing has told SoftBank Group it will not approve the Japanese conglomerate’s acquisition of ABB’s robotics business. Asked about the matter at a regular press briefing, spokesperson Guo Jiakun said the question should be directed to the relevant Chinese authorities. Reports said SoftBank was recently informed the deal would be blocked by the National Development and Reform Commission.
Cointime update: China’s Ministry of Industry and Information Technology has opened public consultation on draft interim rules for digital IDs on new-energy vehicle power batteries. The draft requires battery makers, NEV producers (including importers selling domestically), battery-swap operators, vehicle repairers, end-of-life vehicle recyclers and comprehensive utilization firms to submit traceability data to the national NEV power battery traceability platform under existing interim measures.
Cointime update: Li Auto said it has no airbag recall and that recent text messages telling owners their vehicles are subject to one are fraudulent. The messages, sent in the name of the automaker, ask recipients to complete procedures via an attached link within two hours and threaten to void warranty service if they do not. Li Auto said the recall claim is fabricated, the texts are not official notices and the links are not its website.
Cointime reports: Hainan’s offshore duty-free shopping reached 33.45 billion yuan ($4.7 billion) in the 12 months from November 2025 to October 2026, the first full year after the policy’s 10th optimization took effect on Nov 1, 2025. Haikou Customs data showed 4.879 million shoppers and 27.644 million items purchased, up 13.8%, 8.6% and 2.4% year on year respectively.
Cointime update: China’s Ministry of Commerce said on the 5th that it remains open to expanding purchases of US agricultural products, but only if the agreed “300-for-300” reciprocal tariff reduction is implemented. Spokesperson Huang Ling said agricultural trade is an important part of bilateral economic cooperation and urged both sides to cut tariffs, reduce non-tariff barriers and widen market access.
Cointime update: Crédit Mutuel Arkéa has resumed operations after a cyberattack in which attackers accessed its systems through a service provider’s platform. The French bank said customer funds were unaffected and is now assessing losses from the incident. No further details on the scope or financial impact were disclosed.
Cointime update: Japan plans to approve revised security documents in December that would nearly double defense spending to 70–80 trillion yen over five years, with focus on long-range strike and unmanned combat capabilities, China’s Foreign Ministry said on November 5. Spokesperson Guo Jiakun accused Tokyo of using the “maximum strategic challenge” label as cover for military expansion and urged the international community to stay alert.
Cointime update: Chinese Foreign Ministry spokesperson Guo Jiakun said the US midterm elections are an internal US affair, responding to a question on China-US relations after the vote. Guo said Beijing is willing to work with Washington to uphold and implement the important consensus reached by the two heads of state, strengthen communication, properly handle differences and expand cooperation, building a constructive strategic and stable relationship based on respect, fairness and reciprocity.
Cointime reports: Yiwu Customs had supervised 110 million cross-border e-commerce bonded import orders as of Nov. 4, surpassing all of last year and setting a record for the period. The city ranks first nationally in cross-border e-commerce imports, with more than 70,000 product types from over 90 countries and regions. Bonded imports at Yiwu Comprehensive Bonded Zone and Yiwu Bonded Logistics Center reached 27.148 billion yuan in the first 10 months, up 25.63% year on year.
Cointime update: Hong Kong’s court delivered a sentencing ruling on Nov. 5 in the collusion case against Joshua Wong, who was convicted of conspiring with foreign or overseas forces to endanger national security. Chinese Foreign Ministry spokesperson Guo Jiakun said the crime was serious and Wong pleaded guilty in the face of extensive facts and evidence. Guo added that the central government firmly supports the Hong Kong SAR in safeguarding national security and combating acts that endanger it under the law.
Cointime update: The EU began charging a €2 handling fee on low-value imported goods on November 1, following a €3 tariff introduced in July. China’s Commerce Ministry spokesperson Huang Ling said on November 5 that Beijing is closely watching the new rules and hopes the EU will carefully assess their impact, calling cross-border e-commerce a new trade model that offers consumers and businesses more choices.
Cointime update: The World Health Organization published a report on June 4 stating that six proven climate and health measures could save 1.6 million lives each year. The report says the measures would also generate trillions of dollars in economic and fiscal benefits while helping to cut carbon emissions.