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Shanghai has issued guidance to expand its second‑hand goods market by scaling an “Internet+” model, improving trade‑in and registration procedures for cars and electronics, and encouraging third‑party testing and appraisal services. The package aims to boost consumption, formalise trading practices and advance circular‑economy goals, while posing enforcement and data‑privacy challenges.

Shanghai will subsidise purchases of top‑rated energy and water‑efficient household appliances with a rebate equal to 15% of the sale price, capped at 1,500 yuan per item and available for six categories of products. The move aims to boost consumption, accelerate replacement of inefficient appliances, and support domestic manufacturers while advancing municipal energy‑efficiency goals.

Elon Musk is reportedly preparing to merge xAI into SpaceX and pursue a blockbuster IPO that would combine rockets, the Starlink network, X and the Grok AI model. The strategy aims to move compute into orbit to bypass terrestrial energy and cooling limits, but it raises major technical, regulatory and national-security questions.

Elon Musk is reportedly advancing plans to shift substantial computing into space, consider mergers among his companies, and explore delivering Tesla’s Optimus humanoid robots to the Moon and Mars. The ambition combines SpaceX’s launch capability with Tesla’s robotics and Musk’s AI interests, but faces steep technical, economic and regulatory hurdles.

Shanghai will subsidise purchases of top‑rated energy and water‑efficient household appliances — refrigerators, washing machines, TVs, air conditioners, computers and water heaters — at 15% of the sale price up to ¥1,500 per item. The measure aims to stimulate consumption and accelerate household upgrades while supporting municipal energy‑saving goals, though its impact depends on implementation and recycling capacity.

The CCP Politburo, chaired by Xi Jinping, reviewed and approved 2026 work plans for five major party‑led state organs and the Central Secretariat, praising their 2025 performance and demanding strict implementation of the party centre’s directives. The meeting frames 2026 as the start of the 15th Five‑Year Plan and emphasises political unity, disciplined party governance and a stability‑first approach to economic and institutional priorities.

Cambricon expects 2025 net profit of ¥1.85–2.15 billion, a year‑on‑year turnaround driven by stronger AI compute demand and successful product deployments. The result signals that Chinese AI chipmakers are beginning to convert rising demand and policy support into commercial profit, though challenges around scaling, margins and competition remain.

Fourier, a Chinese robotics firm, says it will integrate brain‑computer interfaces with exoskeletons to enable robots to detect patients’ movement intentions and provide timed physical assistance, aiming for clinical rollout within one to two years. The move rests on more portable BCI hardware, AI advances in signal interpretation, and a staged market strategy that targets hospitals first, then care homes and households.

Hong Kong’s Hang Seng and Hang Seng Tech indexes fell just over 2% on Friday, reversing part of January’s rally. Heavy losses in gold and lithium miners — with some names plunging more than 10–14% — drove the decline and point to heightened short-term volatility as investors reassess commodity prospects and risk appetite.

China’s NDRC and NEA have instructed provinces to strengthen capacity‑price mechanisms for coal, gas, pumped storage and new grid storage, mandating that capacity payments recover at least 50% of coal units’ fixed costs and establishing rules for reliable capacity compensation tied to spot market development. The package aims to stabilise dispatchable revenues, encourage storage participation in markets and support reliability as renewables expand, while requiring provincial assessments of consumer affordability and stricter performance oversight.

China’s Treasury recorded a 57.8% jump in securities transaction stamp tax to 2,035 billion yuan in 2025, reflecting stronger market turnover, while overall general public budget revenue fell 1.7% to 21.6 trillion yuan. Tax receipts rose only modestly and non‑tax income declined due to a 2024 one‑off, even as childcare subsidies have reached more than 30 million infants and remaining payments are to be completed by March 2026.

China’s state-controlled firms posted a 6.3% drop in profits for 2025 despite a 0.5% rise in revenue, with total profits around ¥4.04 trillion and an asset‑liability ratio of 65.1%. The data highlight margin pressure across SOEs and present Beijing with a choice between fiscal support and deeper restructuring.

The Shanghai Composite rose 3.76% in January and closed above 4,100, powered by a rotation between precious‑metals miners and AI application plays. Heavy turnover—more than RMB 2.5 trillion for 20 trading days—fostered sharp, theme‑driven rallies in smaller names even as some large‑cap benchmarks showed strain.

The EU moved on 29 January to designate Iran’s Islamic Revolutionary Guard Corps as a terrorist organisation, prompting strong condemnations from Tehran that called the decision illegal and dangerous. The move deepens transatlantic alignment on Iran but risks legal, diplomatic and security fallout that could complicate nuclear diplomacy and increase regional tensions.

Japan’s prime minister sparked Beijing’s ire by saying Tokyo and Washington would jointly evacuate citizens in a Taiwan crisis, prompting Chinese accusations of remilitarisation. The dispute unfolds amid U.S. efforts to balance deterrence with stable ties to China and Japan’s procurement of unmanned “machine dogs”, which signal a low‑risk military transformation that may alter crisis incentives.

US Defense Secretary Hegseth is reportedly set to skip next month’s NATO defence ministers meeting in Brussels. If true, the absence would compound recent high‑level US no‑shows at NATO gatherings and risk heightening allied doubts about Washington’s commitment to the alliance.

A South Korean C-130 transport made an emergency landing in Okinawa after one engine’s power dropped during a flight to a Saudi defence exposition; technicians replaced the faulty part and the aircraft departed later that day. The diversion, handled without injury, underscores routine maintenance and logistics challenges for long-range military flights and highlights practical benefits of regional basing and defence cooperation.

New Oriental and its e‑commerce spinoff Dongfang Zhenxuan both reported mid‑fiscal 2026 results that show operational stabilization and a return to profitability for Dongfang. Their recoveries reflect strategic shifts—de‑personalisation and self‑operated goods for Dongfang, and business‑mix adjustment plus AI investment for New Oriental—but both face significant execution and competition risks before growth can be deemed sustainable.

The Pentagon told President Trump it is prepared to execute any orders regarding Iran as U.S. forces gather in the Middle East. Washington is reportedly weighing strikes on Iranian leaders and nuclear sites, while Tehran has warned it is ready to respond to any aggression and called for an end to provocations if genuine talks are desired.

China’s Politburo, chaired by Xi Jinping, reviewed and approved 2026 workplans for the Party leadership groups embedded in the country’s major state and judicial organs, praising 2025 performance and calling for strict implementation of Party directives. The meeting underlined centralised leadership, strengthened Party governance, and a focus on achieving a stable start to the 15th Five‑Year period while reducing formalism at the grassroots.