[From January to August 2026, profits of industrial enterprises above designated size nationwide increased by 15.7%]

As Q3 draws to a close, data shows that new special-purpose bonds and ultra-long-term special government bonds have strongly supported project construction, with ample room for further momentum ahead. Currently, the issuance progress of new special-purpose bonds has reached 76%. On the ultra-long-term special government bonds front, the project lists for implementing major national strategies and building up security capacity in key areas, as well as funds related to equipment upgrades, have all been fully allocated.

According to monitoring data from the China Index Academy, as of September 24, a total of over 870 real estate-related policies had been issued nationwide, of which more than 280 were issued in Q3, continuing the high-frequency policy rollout trend seen in H1. Local policies mainly focused on three directions: activating demand, optimizing supply, and urban renewal, primarily involving the optimization of restrictive policies, adjustments to housing provident fund policies, the issuance of home purchase subsidies, the revitalization of existing housing stock, the construction of "quality housing," and the implementation of supporting policies for urban renewal.

On 26 September, an explosion occurred at the Elga coal mine in Yakutia — Russia's largest coking coal deposit — killing four workers who were carrying out welding operations. Despite the incident, no full production halt has been announced for Elga's core production areas. The key industrial base is estimated to hold 2.2 billion mt of coking coal reserves, and the mine produced 35.1 million mt in 2025. The incident has triggered a criminal investigation into safety violations, which may threaten near-term output at the 8,000-employee facility.