China Business Daily

4 September 2026 · 07:40 CST · Daily intelligence brief

This edition draws on 39 reports across 14 Chinese outlets.

At a Glance

  • Ten ministries published China’s 15th Five-Year SME development plan, proposing a phase-II National SME Development Fund and targeting 22,000 specialized “little giant” enterprises by 2030. Securities Times, 2026-09-03.
  • The rollout of 2026’s RMB 800 billion policy-based financial instruments — policy-bank financing tools for strategic projects — has begun, with China Development Bank’s first RMB 245 million placement going to CALB’s Zigong battery base. People’s Daily, 2026-09-03.
  • A single-week record of 82 new funds started offering between August 31 and September 4 as equity issuance, including 84 index funds in the pipeline, intensifies. National Business Daily, 2026-09-04.

Top Stories

Policy

Ten ministries propose phase II of National SME Development Fund to steer capital into early-stage, hard-tech firms · covered by 5 outlets - Ten departments led by the Ministry of Industry and Information Technology (工业和信息化部) issued the 15th Five-Year Plan for Promoting the Development of Small and Medium-Sized Enterprises, which calls for establishing the second phase of the National SME Development Fund to guide social capital into early-stage, small, long-term and hard-technology investments, according to the ten departments. Securities Times, 2026-09-03. - By 2030, cumulative per-capita operating revenue of above-designated-size SMEs (China’s statistical category for larger SMEs) is expected to rise about 15%, while internal R&D expenditure of above-designated-size industrial SMEs should grow more than 8% a year, according to the ten departments. finance.china.com.cn, 2026-09-03. - The plan targets 22,000 specialized and innovative “little giant” enterprises (China’s nationally certified specialist SME champions) and 600 national-level SME characteristic industrial clusters by 2030, according to the ten departments. finance.sina.com.cn, 2026-09-03. - To boost direct financing, the plan calls for building a quality SME listing-cultivation database, normalizing equity-financing matchmaking, deepening the “specialized, refined, differentiated, and innovative” board in regional equity trading markets, and building a high-quality “Technology Board” in the bond market, according to the ten departments. 21st Century Business Herald, 2026-09-03.

China begins rolling out new batch of policy-based financial instruments · covered by 3 outlets - China Development Bank (国开行; a major Chinese policy bank) Sichuan branch on September 2 made the province’s and the bank’s first placement in the new round of new-type policy-based financial instruments — RMB 245 million — for CALB’s (a Chinese power-battery maker) power-battery and energy-storage battery base project in Zigong. People’s Daily, 2026-09-03. - Proposed in this year’s government work report, the RMB 800 billion batch is a special financing tool created by national policy banks with central-bank funding support, used to supplement capital for national strategic infrastructure and key industrial projects or to bridge special-bond capital gaps. 21st Century Business Herald, 2026-09-03. - The National Development and Reform Commission held a working meeting on August 14 to accelerate allocation of the 2026 new policy-based financial instruments and increase support for private-investment projects, according to the commission. 21st Century Business Herald, 2026-09-03. - Zhang Xu, chief fixed-income analyst at Everbright Securities (a Chinese brokerage), expects the RMB 800 billion of instruments to support about RMB 10 trillion in total project investment. 21st Century Business Herald, 2026-09-03.

Markets

Weekly new fund launches hit record as equity funds pour into China market · covered by 2 outlets - In the week from August 31 to September 4, 82 new funds began offering, setting a record for the number of funds starting fundraising in a single week. National Business Daily, 2026-09-04. - The first batch of 8 ChiNext computing-infrastructure ETFs (ChiNext is Shenzhen’s growth-enterprise board) was issued centrally on September 4. National Business Daily, 2026-09-04. - As of September 3, 112 equity funds were being issued or about to be issued, and 84 of them were index funds. National Business Daily, 2026-09-04.

Hong Kong-listed firms’ buybacks top HK$100bn this year; three sectors see major shareholder additions · covered by 1 outlet - As of September 3, Hong Kong-listed companies’ cumulative share buybacks this year exceeded HK$100 billion, totaling 8.24 billion shares, up 55.4% year on year. Economic Observer, 2026-09-04. - The Hang Seng Index was down 1.63% year to date as of the September 3 close. Economic Observer, 2026-09-04. - Major shareholders are increasing holdings in the AI, innovative-drugs, and real-estate chain sectors. Economic Observer, 2026-09-04.

Company

Regulator opens case against Horqin Cattle Industry after guar gum found in beef rolls · covered by 3 outlets - The Sichuan Provincial Market Supervision Administration announced on August 28 that a batch of original-cut beef rolls produced by Inner Mongolia Horqin Cattle Industry Co., Ltd. (科尔沁牛业; an Inner Mongolian beef producer) contained guar gum (a food additive), according to the administration. Caijing, 2026-09-03. - The Kezuo Houqi Market Supervision Administration said on September 2 that the batch was an order-based product supplied to only one cooperative enterprise, and that it has filed a case against the company and will announce follow-up handling results in accordance with the law, according to the administration. Caijing, 2026-09-03.

Zhong’an Ke board refuses to submit shareholder interim proposal, explaining decision · covered by 2 outlets - According to the board of Zhong’an Ke Co., Ltd. (中安科; a Chinese security-technology company), it received a September 1, 2026 letter from shareholder Hangzhou Gongwang Runying Investment Partnership — which holds 5.16% — nominating Wu Lijun and Hu Jiang as non-independent director candidates for the 12th board. Sina Finance, 2026-09-04. - The shareholder also proposed amending the articles of association to increase the board from 9 to 11 members and independent directors from 3 to 4, according to the shareholder’s interim proposals. Sina Finance, 2026-09-04. - On September 3, 2026, the board voted 0 in favor, 9 against, and 0 abstentions on adding the interim proposals to the meeting agenda, deciding not to submit them because nominating two non-independent directors conflicts with the proposal to add only one non-independent director seat, according to the board. Sina Finance, 2026-09-04.

Haier Smart Home plans D-share buyback of up to 81.04 million shares · covered by 2 outlets - Haier Smart Home (海尔智家; a Chinese home-appliance maker) will make a voluntary public share-repurchase offer for its D shares (Frankfurt-listed shares; ISIN CNE1000031C1) of up to 81,044,512 D shares, about 30% of D shares currently on issue, at EUR 1.87 per D share — a 5% premium to the Xetra closing price on the third trading day before the announcement — according to Haier Smart Home. Caijing, 2026-09-04. - The acceptance period runs from 00:00 CEST on September 4 to 24:00 CEST on September 29, 2026; excess tenders will be repurchased on a pro-rata basis, and repurchased D shares will be cancelled, according to Haier Smart Home. Caijing, 2026-09-04.

Zhang Jianping passively exits top-10 shareholder list at Zhongji Innolight · covered by 3 outlets - Zhongji Innolight’s (中际旭创; a Chinese optical-transceiver maker) board approved a share-buyback plan at an August 31, 2026 meeting, and the top-10 shareholder list disclosed as of that date no longer includes Zhang Jianping, according to Zhongji Innolight. 21st Century Business Herald, 2026-09-02. - As of June 30, 2026, Zhang Jianping was the ninth-largest shareholder, holding 5.9348 million shares, or 0.53% of circulating shares. 21st Century Business Herald, 2026-09-02. - On September 2, 2026, Zhongji Innolight’s A-shares fell 4.29% to close at 822.4 yuan, trimming its market value to 971.2 billion yuan. 21st Century Business Herald, 2026-09-02.

Li Auto launches new MEGA at RMB509,800 with upgraded chassis and assisted driving · covered by 3 outlets - On September 2, Li Auto (理想; a Chinese electric-vehicle maker) launched the new MEGA flagship MPV in a “Home-only” version priced at 509,800 yuan. Securities Times, 2026-09-03. - The new MEGA’s 0.215 drag coefficient is the lowest among global MPVs, and it comes with a newly developed 800V active anti-roll chassis with dual-chamber air springs, dual-valve CDC (continuously controlled damping), and an 800V anti-roll bar that responds in 30 milliseconds. Securities Times, 2026-09-03. - The model is standard-equipped with a 108 kWh ternary lithium 5C ultra-fast charging battery and dual-motor four-wheel drive, with a 710-kilometer range. Securities Times, 2026-09-03. - It will be launched in right-hand-drive markets including Hong Kong, Macao, Singapore, and Thailand by the end of this year. Securities Times, 2026-09-03.

Also Reported

Further developments selected for today’s brief; tap a source to read the original.

Sources

39 source articles across 14 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

Ten ministries set up phase-II national SME development fund to steer capital into early-stage, hard-tech firms — 6 outlets

China begins rolling out new batch of policy-based financial instruments — 3 outlets

Weekly new fund launches hit record as equity funds pour into China market — 2 outlets

Hong Kong-listed firms’ buybacks top HK$100bn this year; three sectors see major shareholder additions — 2 outlets

Horqin Cattle Industry recalls original-cut beef rolls after guar gum detected; regulator opens case — 3 outlets

Zhonganke board refuses to submit shareholder interim proposal, explaining decision — 2 outlets

Haier Smart Home plans D-share buyback of up to 81.04 million shares — 2 outlets

Zhang Jianping passively exits top-10 shareholder list at Zhongji Innolight — 4 outlets

Li Auto launches new MEGA at RMB509,800 with upgraded chassis and assisted driving — 3 outlets

China’s AI chip ‘four little dragons’ post mixed H1 results, two show paper profits, cash flows stay tight — 2 outlets

China issues asset-liability management measures for insurance companies — 1 outlet

RMB69bn market-cap chip stock hits limit-up; controller and GM detained, 100% stake frozen — 2 outlets

China’s integrated circuit industry grows rapidly as output and sales both boom — 2 outlets

Limit-up Chinese stock warns liquid-cooled silicone oil saw zero H1 sales — 3 outlets

New beverage formats open fresh consumption scenarios in China — 2 outlets

Methodology: stories are clustered across Chinese outlets and ranked by breadth of corroboration and recency. Reporting is descriptive only and is not investment advice. Compiled 4 September 2026 07:40 CST.

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