Significant Market Events

1. Tesla’s Latest Humanoid Robot to Start Mass Production by End of 2026
On February 2, Tesla’s official Weibo account announced that the third generation of Tesla’s humanoid robot is set to be unveiled, with an expected annual production target of one million units. Insiders revealed that the Model S/X production line at Tesla’s Fremont factory will be converted into a humanoid robot production line, anticipated to begin mass production by the end of 2026. The robot will have its own independent supply chain, and all components will be designed based on first principles, resulting in a longer ramp-up period for mass production compared to automotive products.

2. Nine Departments Improve Payment Environment for Incoming Tourists During Spring Festival
On February 2, the Ministry of Commerce and eight other departments released the “2026 ‘Shop for the Spring Festival’ Special Activity Plan,” which aims to facilitate spending by incoming tourists. The plan encourages localities to publish multilingual maps of Spring Festival customs, guiding international travelers to experience Chinese intangible cultural heritage and folk activities. It also proposes increasing capacity on international routes based on market demand and offering combined products for inbound tourism that integrate civil aviation and cultural tourism. The initiative focuses on enhancing the payment environment, including bank cards and mobile payments, to ease transactions for incoming tourists.

3. Singapore to Establish Its First Space Agency on April 1
On February 2, Singapore announced the establishment of its first space agency, which will officially commence operations on April 1. Dr. Selena Ling has been appointed as the incoming director of the Singapore Space Agency. The agency will take over and expand the functions of the Singapore Office for Space Technology and Industry Development, assuming five core missions. In addition to enhancing the research ecosystem and developing the space industry, it will also focus on operationalizing national space capabilities and formulating relevant regulations.

4. Citigroup Warns of Extreme Gold Valuations
On February 2, Citigroup cautioned that gold valuations have reached extreme levels, with global gold expenditure as a percentage of GDP surging to 0.7%, the highest in 55 years. If the gold allocation percentage returns to the historical norm of 0.35% – 0.4%, gold prices could face a risk of being halved. The collective reduction in risk aversion is expected to remove the last support for gold prices as the potential for an agreement in the Russia-Ukraine conflict in the second half of 2026, along with a rising U.S. economy and confirmation of the Federal Reserve’s independence, unfolds.

5. EY Reports Record High Number of Financial Institutions in China
On February 2, EY released a report indicating that as of June 2025, there are 42 foreign-funded banks in China, with shareholders possessing strong capital and extensive international experience, laying a solid foundation for their development in the Chinese market. Additionally, foreign securities firms are rapidly establishing a presence in China’s capital market, with 16 foreign-controlled securities companies operating in the country by June 2025. The pace of opening up in the banking, insurance, securities, and asset management sectors is expected to accelerate further.

6. Guangdong Encourages Use of Financial Tools for Mergers and Acquisitions
On February 2, the Guangdong Provincial Development and Reform Commission released the “2026 Work Plan for Optimizing the Market-oriented Business Environment.” The plan emphasizes enhancing the marketization of property rights transactions. It encourages various intellectual property transaction platforms to strengthen their financial services, collaborate with commercial banks to establish dedicated sections for the disposal of intellectual property, and explore online auction and matching transaction methods to accelerate monetization.

7. Tesla Achieves Mass Production of Dry Electrode Batteries
On February 2, Elon Musk announced on social media that Tesla has successfully scaled up the production of dry electrode technology, marking a significant breakthrough in lithium battery production technology. He congratulated Tesla’s engineering, production, and supply chain teams along with strategic partners for their outstanding achievements. Tesla stated that the dry electrode manufacturing process can reduce costs, energy consumption, and factory complexity while significantly improving scalability.

8. Ministry of Industry and Information Technology Reports Growth in Electronics Manufacturing
On February 2, the Ministry of Industry and Information Technology reported that in 2025, the value added by the electronic information manufacturing industry above designated size is expected to grow by 10.6% year-on-year, outpacing industrial and high-tech manufacturing growth rates. In December, this sector also saw an 11.8% growth year-on-year. Key products included 1.54 billion mobile phones produced, a decrease of 5.8%, with smart phone production at 1.27 billion units, down 0.9%.

9. Civil Aviation Administration Seeks Opinions on C919 Aircraft Specifications
On February 2, the Civil Aviation Administration of China released a call for opinions regarding the specific conditions for the C919 aircraft. Based on the design features of the C919, the administration’s Aircraft Airworthiness Certification Division has organized the drafting of specific conditions for the “C919 Narrow Runway Operation (Draft for Comments).” The public consultation period for this draft is set for ten working days.

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