Next week’s major financial agenda: important meetings, key data, a critical moment begins.

Next week’s major financial agenda: important meetings, key data, a critical moment begins.

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Overview of Major Financial Events for the Week of October 20 – October 26, all times in Beijing Time:

Key focuses next week: Major Chinese economic data, US CPI, Manufacturing PMI. The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, the 18th Meeting of the Standing Committee of the 14th National People’s Congress, and the US Federal Reserve's Payment Innovation Meeting. The 47th ASEAN Summit will be held in Malaysia, with Trump attending.

In addition, industry associations such as the China Solid-State Battery Conference, Low-Altitude Economy Conference, and 2025 Satellite Application Conference will be held, and XPeng Tech Day may release new robots. The China-US earnings season is reaching its climax, with earnings from Tesla, IBM, Intel, Coca-Cola, Netflix, Procter & Gamble, CATL, iFLYTEK, China Unicom, China Mobile, China Telecom, and Poly Group incoming.

Economic Indicators

  • US September CPI, October Markit Manufacturing PMI

The US September CPI, originally scheduled for October 15, has been postponed to October 24 due to a government shutdown, and the US October Markit Manufacturing PMI will also be released on the same day.

The market expects the year-on-year CPI to fall slightly but remain high, with core CPI still sticky. These two data points will directly affect the decision of the upcoming Fed rate meeting.

  • Key Chinese economic data including GDP, real estate investment, and social retail sales

On October 20, the State Council Information Office will hold a press conference on national economic performance. China will release several key economic indicators on this day, including GDP, real estate investment, social retail sales, and above-scale industrial added value.

CICC Research predicts that the year-on-year growth rate of real GDP in Q3 may fall slightly, but nominal GDP growth is expected to improve marginally. In consumption, the marginal fading of the trade-in policy may slow social retail sales growth. Driven by the global manufacturing recovery and the shift of the Mid-Autumn Festival holiday, September exports remain resilient, expected to boost the growth rate of industrial output.

On that day, China’s latest LPR data will also be announced.

Financial Events

  • The 18th Meeting of the Standing Committee of the 14th National People’s Congress to be held in Beijing from October 24 to 28

According to Xinhua News Agency, the 51st Chairman's Meeting of the Standing Committee of the 14th National People’s Congress was held at the Great Hall of the People in Beijing on the morning of the 15th, chaired by Zhao Leji. It was decided that the 18th meeting of the Standing Committee will be held in Beijing from October 24 to 28.

  • The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China

The Political Bureau of the CPC Central Committee recently held a meeting to study and formulate major issues for the 15th Five-Year Plan for National Economic and Social Development. It was decided that the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China will be held in Beijing from October 20 to 23.

  • Federal Reserve holds Payment Innovation Meeting to discuss stablecoins, artificial intelligence, and tokenization

The Federal Reserve will hold a conference on payment innovation on October 21, exploring several emerging topics, including application scenarios of stablecoins, the integration of artificial intelligence and payment sectors, and tokenization of financial products and services.

Treasury Secretary Besant will give a keynote speech. Federal Reserve Governor Waller will make opening remarks at the Fed Board’s Payment Innovation Meeting.

  • The 47th ASEAN Summit to be held in Kuala Lumpur, Malaysia, Trump will attend

The 47th ASEAN Summit will be held in Kuala Lumpur, Malaysia, from October 26 to 28. Leaders of ASEAN member states will attend, and US President Trump has confirmed participation. As the rotating chair of ASEAN in 2025, Malaysia has set this year’s theme as “Inclusivity and Sustainability”, emphasizing ASEAN’s commitment to strengthening peace, stability and prosperity in the region under an inclusive, sustainable and future-oriented framework.

Timor-Leste, which was “principally” agreed to join ASEAN by member countries in 2022, is expected to officially join during this Summit.

  • China Solid-State Battery Conference, Low-Altitude Economy Conference, 2025 Satellite Application Conference, XPeng Tech Day

A series of major industry summits are coming up. The China Solid-State Battery Conference will be held in Hefei from October 22-24, with CATL, Weilan New Energy, Gotion High-Tech and others participating. The “Energy-saving and New Energy Vehicle Technology Roadmap 3.0” will also be released globally on October 22.

At the same time, the China Institute of Communications plans to hold the 2025 Satellite Application Conference in Beijing from October 25-27. The China Low-Altitude Economy Innovation Application & Standardization Promotion Conference will be held on October 24 in Beijing's Zhongguancun. The China Photovoltaic Industry Association is scheduled to hold the “High-Quality Development of Photovoltaic Industry and Technology Standards Forum” from October 23-24, 2025.

In addition, October 24 will be XPeng Tech Day, possibly releasing the XPeng robot.

Earnings Reports

  • US earnings: Tesla, IBM, Intel, Coca-Cola, Netflix, Procter & Gamble, etc.

This week, the China-US earnings season is approaching its peak, with the US market focusing on the performance of Tesla, Intel, and IBM.

Markets are watching for Tesla’s FSD progress and Intel’s AI chip order situation. IBM’s transformation into AI enterprise services is also noteworthy. According to CNBC, the revenue contribution of IBM’s watsonx platform in the enterprise market will be crucial to judging the success of its AI strategy.

In addition, major companies like Coca-Cola, Netflix, Procter & Gamble, and Blackstone will release their latest earnings.

  • A-shares earnings: CATL, iFLYTEK, China Unicom, China Mobile, China Telecom, Poly Group, etc.

In the Chinese market, the three telecom giants, CATL, iFLYTEK and others will release their latest reports. Should CATL signal a clear mass production path for solid-state batteries, it may trigger a revaluation for the new energy industry chain.

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