Weekend News Summary: The State Council discusses policies and measures to accelerate the development of a hierarchical diagnosis and treatment system

This weekend, important news affecting the market includes: the State Council is studying policies and measures to accelerate the establishment of a hierarchical diagnosis and treatment system; the central bank convened a financial stability work meeting, requiring the promotion of multi-channel capital replenishment; the Ministry of Commerce has initiated two trade barrier investigations against the United States; U.S. officials claim that Semiconductor Manufacturing International Corporation provided chip manufacturing tools to the Iranian military, to which the foreign ministry responded; the China Securities Regulatory Commission expressed its commitment to strengthening the protection of small and medium investors in the capital market, effectively enhancing investors’ sense of gain; the U.S. Department of Defense is preparing for “weeks of ground operations in Iran”; Iran has banned ships traveling to and from enemy ally ports from passing through the Strait of Hormuz; in response to turmoil in the energy market, Russia plans to implement a temporary ban on gasoline exports; the U.S. stock market has seen five consecutive weekly declines, with the Nasdaq down over 2%, while gold, silver, and crude oil rose broadly.

Macroeconomics

State Council: Studying Policies and Measures to Accelerate the Establishment of a Hierarchical Diagnosis and Treatment System

The meeting pointed out that promoting hierarchical diagnosis and treatment is beneficial for improving the operational efficiency of the medical and health service system and better meeting the public’s needs for nearby and convenient medical care. It is necessary to coordinate the construction of the hierarchical diagnosis and treatment system and the implementation of the healthcare strengthening project, guiding the public to seek initial diagnosis at the grassroots level with a focus on common and chronic diseases, optimizing referral service management to enhance the continuity of medical treatment, solidly carrying out family doctor contract services, and promoting the sinking of medical and health services and the enhancement of grassroots capabilities.

Central Bank Holds Financial Stability Work Meeting: Promoting Multi-Channel Capital Replenishment

The meeting required continuous improvement of the system for preventing and resolving systemic financial risks, deepening and solidifying the work of technology empowerment, strengthening financial risk monitoring, assessment, early warning, and early correction, and consistently curbing incremental risks. Adhering to market-oriented and rule-of-law principles, actively and prudently handling financial risks in key areas, and orderly reducing existing risks.

Ministry of Commerce: Initiated Two Trade Barrier Investigations Against the United States

In order to resolutely safeguard the interests of relevant Chinese industries, in accordance with the “Foreign Trade Law of the People’s Republic of China” and the relevant provisions of the “Rules for Investigation of Trade Barriers,” the Ministry of Commerce released two announcements on March 27 regarding the two 301 investigations initiated by the U.S. against China, respectively launching two trade barrier investigations in response to U.S. actions and measures that disrupt the global supply chain and impede the trade of green products.

Global News

U.S. Vice President States that the U.S. Has No Intention to Remain in Iran and Will Withdraw Soon

On March 27 local time, U.S. Vice President Pence stated in an interview about the Iran issue that the U.S. has no intention of remaining in Iran and will withdraw soon after handling current affairs. He added that there is every reason to believe that the U.S. has completed all military objectives. The ongoing military operations are due to President Trump wanting to ensure that Iran completely loses the ability to threaten the U.S. Regarding the current rise in domestic oil prices, Pence stated that it is a very brief market reaction to the U.S.-Israel-Iran conflict and that oil prices will decline after the U.S. withdraws from Iran.

U.S. Department of Defense is Preparing for “Weeks of Ground Operations in Iran”

The Washington Post reported on March 28 local time that the U.S. Department of Defense is preparing for “weeks of ground operations in Iran.” Sources said that if President Trump approves the relevant plan, it will mark a new phase of the war, with risks potentially “significantly higher than in previous weeks.” Reports indicate that thousands of U.S. soldiers and Marines have already arrived in the Middle East.

Iran Bans Ships Traveling to and from Enemy Ally Ports from Passing Through the Strait of Hormuz

On March 27, the Iranian Islamic Revolutionary Guard Corps issued a statement saying that the Strait of Hormuz is now closed, and any attempts to pass through the strait will be met with severe punishment. The statement also claimed that any ships traveling to and from “enemy (U.S. and Israeli) allies and supporters’ ports,” regardless of their destination or route, are prohibited from passing.

Iran Claims Israeli and U.S. Attacks on Nuclear Facility Containing Heavy Water Reactor

On March 27 local time, according to Iranian sources, Israel and the U.S. attacked Iran’s Homs Nuclear Facility, which contains a heavy water reactor. The deputy governor for political security of Iran’s Central Province stated that the Homs heavy water complex has been attacked in two phases by the U.S. and Israel.

In Response to Energy Market Turmoil, Russia Plans to Implement a Temporary Ban on Gasoline Exports

The Russian government stated that Deputy Prime Minister Alexander Novak instructed the Ministry of Energy on March 27 to draft an administrative order prohibiting gasoline exports starting April 1, aiming to stabilize prices amid turmoil in the energy market caused by the Middle East conflict and to prioritize supply for the domestic market. On March 15, people were seen walking the streets of Moscow. According to TASS, the Russian cabinet announced Novak’s directive after a meeting on the domestic petroleum products market situation, with the ban lasting until July 31.

U.S. Stocks See Five Consecutive Weekly Declines; Nasdaq Drops Over 2%; Gold, Silver, and Crude Oil Rise Broadly

All three major U.S. stock indexes closed down on March 27. At the close, the Dow Jones Industrial Average fell 793.47 points from the previous trading day, closing at 45166.64 points, a decrease of 1.73%; the S&P 500 index fell 108.31 points to close at 6368.85 points, a decrease of 1.67%; the Nasdaq Composite Index dropped 459.72 points to close at 20948.36 points, a decrease of 2.15%.

Financial Capital

China Securities Regulatory Commission: Strengthening Protection for Small and Medium Investors in the Capital Market to Effectively Enhance Investors’ Sense of Gain

Comprehensively implement the requirements for severely cracking down on securities violations in accordance with the law, adhering to regulatory law enforcement that is “sharp and pointed,” and vigorously combating various illegal securities and futures activities. Strengthen the protection of small and medium investors in the capital market, promote the realization of more representative litigation cases and advance compensation cases, effectively enhance investors’ sense of gain. Research and formulate a plan for integrity construction, promote the implementation of credit supervision, continuously create a market ecology that respects the law and keeps faith, and promote the high-quality development of the capital market to a new level, contributing to a good start to the “14th Five-Year Plan.”

Former Chairman of the Issuance Review Committee of the CSRC Guo Xudong Transferred to Prosecutors for Review and Prosecution on Suspicion of Job-related Crimes

According to the disciplinary inspection and supervision team stationed at the China Securities Regulatory Commission and the Zhejiang Provincial Commission for Discipline Inspection and Supervision: Recently, with the approval of the Central Commission for Discipline Inspection and the National Supervisory Commission, the disciplinary inspection and supervision team stationed at the China Securities Regulatory Commission and the Taizhou Municipal Supervisory Commission in Zhejiang Province have launched an investigation into serious job-related violations by Guo Xudong, former chairman of the Issuance Review Committee of the China Securities Regulatory Commission, deputy director of the Issuance Supervision Department, and first-level inspector.

Shanghai Stock Exchange: Key Monitoring of Stocks with Severe Abnormal Fluctuations such as Huadian Liao Energy This Week

From March 23 to March 27, 2026, the regulatory department of the Shanghai Stock Exchange sent a total of 11 regulatory work letters; through ongoing supervision, it required listed companies to disclose 8 supplementary or corrective announcements. At the same time, it increased the linkage supervision of information disclosure and abnormal stock prices, and for companies that disclosed sensitive information or whose stock prices showed significant abnormalities, it initiated 21 investigations into insider trading and abnormal trading.

Industrial Economy

U.S. Officials Claim that Semiconductor Manufacturing International Corporation Provided Chip Manufacturing Tools to the Iranian Military; Foreign Ministry Responds

On March 27, Foreign Ministry spokesperson Lin Jian hosted a regular press conference. A reporter from AFP asked about U.S. officials stating yesterday that Chinese chip manufacturer Semiconductor Manufacturing International Corporation has been providing chip manufacturing equipment to the Iranian military. What is China’s response to this? In response, Lin Jian stated: “I am not aware of the situation you mentioned. What I can tell you is that some media have recently been keen to publish some seemingly plausible news, but after our verification, we found that they are all false news.”

Two Departments: Charging Satellite Operators Radio Frequency Occupation Fees Based on Actual Bandwidth Used for Space Business

Optimizing the charging standard system for space business. Non-geostationary orbit (NGSO) satellite constellation systems and networked geostationary orbit (GSO) satellite systems will be adjusted from being charged based on space stations and ground stations separately to being charged based on the actual bandwidth used for space business to satellite operators.

Net Profit Increased by Over 400%; Securities Firms’ “Report Cards” Bring These Signals

On March 27, the China Securities Association released the operating data for securities firms for the year 2025. The unaudited financial statements of 150 securities firms showed that they achieved operating income of 541.171 billion yuan in 2025, a year-on-year increase of 19.95%; net profit reached 219.439 billion yuan, a year-on-year increase of 31.2%.

Company Focus

COSCO Shipping Containers’ Two Container Ships Have Turned Back Towards the Persian Gulf and Have Not Yet Passed Through the Strait of Hormuz

According to AIS data of the ships, two container ships of COSCO Shipping Containers, “COSCO Northern Arctic” and “COSCO Indian Ocean,” which approached the Strait of Hormuz on Friday morning Beijing time, have now turned back towards the Persian Gulf and have not yet passed through the Strait of Hormuz.

BYD: 2025 Full-Year Revenue of 803.96 Billion Yuan, a Year-on-Year Increase of 3.46%

BYD’s full-year revenue for 2025 was 803.96 billion yuan, a year-on-year increase of 3.46%, with an estimate of 836.26 billion yuan. Revenue from automobiles, automotive-related products, and other businesses was approximately 648.646 billion yuan, a year-on-year increase of 5.06%; revenue from mobile phone components, assembly, and other products was approximately 155.237 billion yuan, a year-on-year decrease of 2.74%; the proportions of the group’s total revenue were 80.68% and 19.31% respectively. BYD’s annual net profit was 32.62 billion yuan, a year-on-year decrease of 19%, with an estimate of 35.65 billion yuan.

“Brokerage King” Earned 30 Billion Yuan in 2025! The List of Heavy Holdings is Out; How Many Do You Have?

Recently, the brokerage “king” CITIC Securities officially disclosed its annual report for 2025, showing stable overall operations and breakthroughs in multiple core businesses. In 2025, the company achieved operating income of 74.854 billion yuan, a year-on-year increase of 28.79%; net profit attributable to shareholders of the parent company reached 30.076 billion yuan, a year-on-year increase of 38.58%, setting a historical best performance.