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Only Policy#Regulation
  1. Yicai (第一财经 快讯)79

    Commerce Ministry announces 2027 non-state crude oil import quota, conditions and procedures

    The Ministry of Commerce announced the total quantity, application conditions and procedures for 2027 non-state-owned crude oil imports. The announcement was made according to China's Regulations on the Administration of the Import and Export of Goods and China's WTO accession commitments.

    商务部公布2027年原油非国营贸易进口允许量总量、申请条件和申请程序

    商务部公布2027年原油非国营贸易进口允许量总量、申请条件和申请程序。该公告依据《中华人民共和国货物进出口管理条例》和我国加入世贸组织的承诺作出。

    Why it matters: The announcement sets the annual crude oil import quota for non-state-owned traders in 2027, a routine trade-policy instrument that determines how much private refiners can import outside the state system.

  2. SCMP China80

    US proposes US$70,000 fee for foreign students to work after graduation

    The U.S. Department of Homeland Security proposed requiring universities and certified schools to pay US$70,000 for each foreign student entering the Optional Practical Training (OPT) programme, with an additional US$30,000 for subsequent participation. The measure could sharply raise costs for thousands of Chinese graduates seeking employment experience in the U.S.

    美国拟对外国留学生毕业后工作收取7万美元费用

    美国国土安全部提议要求各大学和认证学校为每名参加可选实习培训（OPT）的外国留学生支付7万美元费用，后续参与需额外支付3万美元。此举可能大幅增加数千名中国毕业生在美国寻求就业机会的成本。

    Why it matters: The proposed $70,000 fee would apply to each foreign student entering OPT, creating a major cost barrier for Chinese graduates seeking U.S. work experience.

  3. Yicai (第一财经 快讯)65

    Hong Kong SFC studies extending securities trading hours, starting with derivatives

    Hong Kong Securities and Futures Commission CEO Leung Fung-yee said at an ASIFMA conference that the regulator is researching market microstructure reforms, including extending securities trading hours, with derivatives to be implemented first. HKEX will publish a discussion paper on extending spot market trading hours in Q4. Long-term measures may include tokenized currency and digital Hong Kong dollar settlement arrangements.

    香港证监会研究延长证券交易时段 衍生品市场先行

    香港证监会行政总裁梁凤仪在亚洲证券业与金融市场协会会议上表示，证监会正研究改革市场微观结构，包括延长证券交易时段，并将在衍生产品市场率先推行。港交所将于第四季就延长现货市场交易时段发表讨论文件。长远措施可能包括代币化货币及数码港元结算安排。

    Why it matters: Hong Kong's market regulator is studying longer trading hours to keep pace with global markets across time zones, with derivatives leading and a现货 market paper due Q4.

  1. Treasury OFAC (recent sanctions actions)55

    U.S. Treasury designates 24 individuals and 30 entities across counter-narcotics, counter-terrorism, Iran-related and non-proliferation sanctions

    OFAC added 24 individuals and 30 entities to the SDN List. The designations include a Chinese national (Li Fen) and a Hong Kong company (EC MOJO TECHNOLOGY CO LIMITED) linked to an Iranian WMD proliferation network, as well as multiple Mexico-based individuals and entities tied to the Sinaloa Cartel. Iranian entities include KAVOSHCOM ASIA R AND D GROUP and its subsidiaries, linked to Iran's Ministry of Defense and Armed Forces Logistics.

    美国财政部对24名个人和30个实体实施制裁，涉及禁毒、反恐、伊朗相关及防扩散领域

    OFAC将24名个人和30个实体列入特别指定国民名单。制裁对象包括一名中国公民（李芬）和一家香港公司（EC MOJO TECHNOLOGY CO LIMITED），均与伊朗大规模杀伤性武器扩散网络有关；另有多个与墨西哥锡那罗亚卡特尔相关的个人和实体。伊朗实体包括KAVOSHCOM ASIA R AND D GROUP及其子公司，与伊朗国防和武装部队后勤部有关联。

    Why it matters: A Chinese national and a Hong Kong company were designated for links to an Iranian WMD proliferation network, showing continued U.S. enforcement of secondary sanctions on Chinese actors supporting Iran's weapons programs.

  1. Commerce BIS (export controls news)85

    Commerce Dept revises semiconductor export licensing policy for China

    BIS issued a rule revising its licensing policy for semiconductor exports to China, reviewing export license applications for the Nvidia H200, AMD MI325X and similar chips on a case-by-case basis when security requirements are met.

    商务部修订对华半导体出口许可审查政策

    美国商务部工业与安全局发布新规修订对华半导体出口许可审查政策，对英伟达H200、AMD MI325X等芯片的出口许可申请进行逐案审查，条件是满足安全要求。申请者须证明出口不会减少美国客户可获得的全球半导体产能，且中国购买者已采取出口合规程序，产品已在美国进行独立第三方测试以验证性能与安全。

    Why it matters: The rule reverses the prior full ban, allowing H200 and similar chips to China under case-by-case review with security conditions.

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