PRE-MARKET CHINESE STOCKS NEWS: PBoC announced it will conduct a CNY 1.1tln outright reverse repo operation on Thursday to maintain ample liquidity

China Overseas Land (688 HK) - Co. December contracted sales fell 1% Y/Y to CNY 39.8bln. (Newswires)

China Overseas Grand Oceans Group (81 HK) - Co. December contracted sales fell 43.9% Y/Y to CNY 2.57bln. (Newswires)

China Vanke (2202 HK) - Co. is to hold meetings for bondholders of two CNY bonds on 21st January, while it was said to get the nod from banks to delay interest payments to September. (Newswires)

Gemdale (600383 CH) - Co. December contracted sales fell 54.5% Y/Y to CNY 2.4bln. (Newswires)

Greentown China (3900 HK) - Co. December Property sales CNY 19.7bln (prev. CNY 14.4bln M/M). (Newswires)

Guangzhou Auto (2238 HK) - Co. December vehicle production 165k units (prev. 207k units Y/Y), sales 187k units (prev. 283k units Y/Y). (Newswires)

HSBC (5 HK) - Hong Kong’s watchdog probes Co.’s PAYME App due to privacy concerns. (SCMP)

Knowledge Atlas Technology JSC Ltd (2513 HK) - Co. which is China’s OpenAI rival and known as Zhipu, debuts in Hong Kong following a USD 558mln IPO. (Newswires)

Sino Land (83 HK) - Co. and Great Eagle (41 HK) secured a Kowloon site for USD 206mln. (SCMP)

Pharmaceuticals - Chinese drug makers struck a record USD 136bln in out-licensing deals during 2025. (SCMP)

Tech

China reportedly told tech companies to halt NVIDIA (NVDA) H200 chip orders, while officials may order domestic AI chip purchases with NVIDIA orders. (The Information)

China reportedly issued an action plan on AI and manufacturing, while it supports key core tech breakthroughs in AI server. (Newswires)

Geopolitical

China hacked email systems of US Congressional Committee staff with Beijing intelligence said to have used Salt Typhoon to access communications used by top panels in US Congress, while the intrusions were detected in December. (FT)

Other News

PBoC announced it will conduct a CNY 1.1tln outright reverse repo operation on Thursday to maintain ample liquidity in the banking system. (Xinhua)

China's Commerce Ministry announced an anti-dumping probe into Japan's dichlorosilane imports, while the investigation began on January 7th and will end a year later, but can be extended by 6 months if needed. (Newswires)

Chinese investors are said to rush to equity funds amid outflows from bonds. (Shanghai Securities News)

Data Recap

• Chinese Foreign Reserves (USD)(Dec) 3.358T vs Exp. 3.360T (Prev. 3.346T)
• Hong Kong Foreign Reserves (USD)(Dec) 427.9B (Prev. 429.4B)