Morning Report

Thursday, February 26, 2026, Lunar New Year’s Day 10, Good morning!

1. Onshore and offshore RMB against the US dollar both broke above 6.87, reaching a 34-month high.

2. Ministry of Education: Students are now required to have 2 hours of physical activity daily and 15 minutes of recess, implemented across all provinces nationwide.

3. On the 25th, the People's Bank of China conducted 409.5 billion yuan in 7-day reverse repo operations.

4. Shanghai releases the “Shanghai Seven Policies” for the real estate market: further easing of housing purchase restrictions, lowering buying thresholds, increasing the number of properties that can be purchased, further implementing “no mortgage recognition,” expanding support for multi-child families in home purchases, effective from February 26.

5. The Zhurong-3 launch vehicle plans to attempt recovery testing again in the second quarter of this year.

6. The Shanghai Global Investment Promotion Conference will be held on March 14 at the Oriental Hub International Business Cooperation Zone.

7. The 2026 Zhongguancun Forum Annual Conference will be held in Beijing from March 25 to 29.

8. A 4.6 magnitude earthquake occurred in Yingjiang County, Dehong Prefecture, Yunnan Province, with a depth of 10 kilometers.

9. Hong Kong: The stamp duty rate for residential property transactions exceeding HKD 100 million will be increased to 6.5%.

10. South Korea and U.S. militaries announce joint military exercises from March 9 to 19.

11. Zelensky: Ukraine believes that a new trilateral meeting between Ukraine, the US, and Russia will be held in early March.

12. The US military deploys 11 F-22 fighters; Israel: If Iran does not make concessions, US strikes are inevitable.