Major financial events for the week of October 19 to October 25, all times listed in Beijing time:
The following are the key highlights to watch next week in the financial calendar.
On the macroeconomic policy front, China's third-quarter GDP, the Financial Street Forum, and the APEC Finance Ministers' Meeting are advancing on multiple fronts. On October 19, China releases third-quarter GDP along with September economic data covering industrial output, retail sales, and real estate. On the same day, the annual Financial Street Forum opens, with Wu Qing and Zhu Hexin in attendance, as national financial regulatory authorities prepare to roll out a series of reform policies in a concentrated manner. The APEC Finance Ministers' Meeting lands in Hong Kong for the first time, focusing on multilateral trade and sustainable finance, serving as a home-ground endorsement of Hong Kong's status as an international financial center.
On the AI front, Jensen Huang's Berlin speech is the biggest global variable this week. NVIDIA (NASDAQ: NVDA) opens its GTC Berlin event, with Huang delivering his keynote on the 21st, while German Chancellor Merz meets with him early on the evening of the 19th, with the agenda pointing directly at the implementation of Germany's AI industrial computing cooperation. The new architecture and the scale of cooperation deserve close attention. In addition, the World Bank's Global AI and Digital Summit (Seoul), the Shanghai Bund Summit, and the World Intelligent Connected Vehicles Conference are being held concurrently.
On the earnings front, the US and A/H share earnings season is reaching its peak. Netflix fires the opening shot on the 21st, while Tesla Motors (NASDAQ: TSLA), Meta, and Lam Research release results in a dense cluster on the 22nd. Meta's AI capital expenditure guidance and Tesla's delivery pace will directly set market sentiment. On the A/H share side, Contemporary Amperex Technology Co., Limited (SZSE: 300750), Cambricon, Hygon Information, China Mobile, and China Telecom release their third-quarter reports simultaneously.
In addition, central banks in both emerging and developed economies are holding密集 rate meetings. The Bank of Korea announces its rate decision, with Bloomberg expecting it to hold steady after two consecutive rate hikes. The central banks of Indonesia, the Philippines, Turkey, Russia, and Switzerland announce decisions or minutes throughout the same week. On October 25, several European countries switch to winter time, pushing financial market trading hours and data release times one hour later than during daylight saving time.
Economic Indicators
China GDP, investment, retail sales, real estate data, and 70-city home prices
On October 19, China releases third-quarter GDP along with September economic data covering industrial output, retail sales, and real estate. Zhang Yu, chief economist at Huachuang Securities, believes that for the third quarter, the economy may be slightly better than in the second quarter. GDP is expected to rebound to around 4.5% year-on-year, with the main rebound momentum likely coming from continued strengthening of midstream production driven by external demand. On the domestic demand side, investment, retail sales, and property sales remain relatively weak. In September, stable growth policies were stepped up, government bond issuance accelerated, and expectations in the construction industry began to recover. The key focus for the fourth quarter may be whether domestic demand can improve with policy support, such as infrastructure investment aided by the six major networks and property sales supported by interest subsidies.
Japan CPI and South Korea's first 20-day import and export data
Japan releases September national CPI on the morning of October 23, with the market expecting the headline year-on-year rate to rise to 2.1% (previous: 1.9%). Tokyo's September core rate has already jumped to 2.7%, and if the national figure strengthens in tandem, it will reinforce expectations for a Bank of Japan rate hike in December (the October 29-30 meeting is expected to hold steady).
South Korea releases its first 20-day import and export data for October on October 21. Semiconductors are expected to account for nearly half of exports, with HBM and DDR5 as the core drivers. This data serves as a thermometer for the AI computing chain and memory industry景气.
Financial Events
2026 Financial Street Forum annual meeting opens, with Wu Qing and Zhu Hexin in attendance, expected to release major policies
Approved by the State Council and jointly hosted by the Beijing Municipal People's Government along with the People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, Xinhua News Agency, and the State Administration of Foreign Exchange, the 2026 Financial Street Forum annual meeting is scheduled to be held from October 19 to 22 in Beijing's Financial Street. During the annual meeting, national financial regulatory authorities will release a series of financial reform and development policies in a concentrated manner, fully demonstrating the forum's important role as a national-level authoritative policy announcement platform. CSRC Chairman Wu Qing, PBOC Deputy Governor and SAFE Administrator Zhu Hexin, and others will attend.
2026 APEC Finance Ministers' Meeting held in Hong Kong, China for the first time, with Chinese Finance Minister Lan Fo'an leading the Chinese delegation
The 33rd APEC Finance Ministers' Meeting will be held from October 20 to 21 in Hong Kong, China. According to Xinhua, a statement released by China's Ministry of Finance on October 14 shows that this year's meeting will focus on four key topics: fiscal policies supporting livelihood development, digital infrastructure financing, promoting inclusive finance development tailored to local conditions, and promoting APEC youth finance talent exchange and cooperation, accumulating fiscal and financial sector outcomes for the November APEC Informal Leaders' Meeting in Shenzhen. According to the Ministry of Finance website, finance ministers or their representatives from 21 APEC economies, heads of relevant international organizations, and senior representatives of partner parties will attend the meeting. Chinese Finance Minister Lan Fo'an will lead the Chinese delegation, attend, and chair the meeting, with Vice Minister Liao Min speaking on behalf of China.
NVIDIA GTC Conference (Berlin), Jensen Huang to deliver a speech
According to NVIDIA's (NASDAQ: NVDA) official website, the GTC AI Conference is being held in Berlin from October 20 to 22, with Huang delivering a keynote on the 21st. In addition, German Chancellor Merz will meet with Huang on the evening of October 19, with the agenda pointing toward Germany's AI industrial computing cooperation. Attention is on the new architecture and the scale of European cooperation.
The 19th China-EU Investment, Trade, and Technology Cooperation Fair
The 19th China-EU Investment, Trade, and Technology Cooperation Fair will be held from October 21 to 23 at the China-Europe Center in Chengdu.
Several European countries begin winter time, delaying financial market trading by one hour
Several European countries begin implementing winter time, and European financial market trading hours and economic data release times will be delayed by one hour compared to daylight saving time.
2026 World Intelligent Connected Vehicles Conference
The World Intelligent Connected Vehicles Conference opens on October 21, the same day as the EU fair, focusing on autonomous driving and vehicle-road-cloud integration, with attention on the implementation of high-level intelligent driving and standard developments.
RISC-V China Summit 2026, Bund Summit Shanghai
The RISC-V China Summit is held in Shenzhen from October 18 to 20, focusing on the open-source instruction set ecosystem and domestic substitution progress. In addition, the Bund Summit is held in Shanghai from October 19 to 22, discussing technology, geopolitics, and the global economy. According to Bloomberg, the conference brings together global financial and technology leaders.
2026 Global Developer Pioneer Conference and International Embodied Intelligence Skills Competition
The Global Developer Pioneer Conference and Embodied Intelligence Skills Competition is held in Shanghai Zhangjiang from October 23 to 25, bringing together more than 300 robot本体 companies and over 200 competition teams. It is a key scenario for embodied intelligence moving from demonstrations to engineering implementation, with attention on the domestic robot industry chain and progress in computing power and algorithm coordination.
2026 European Society for Medical Oncology Congress (ESMO), detailed "cancer vaccine" data released
The ESMO Congress is held from October 23 to 27 and is a major global oncology conference, with attention on clinical data for innovative drugs (ADC, bispecific antibodies, IO) and domestic innovative drug overseas cooperation. As one of the most closely watched items, Moderna and Merck will release detailed Phase 3 data on October 24 for an individualized mRNA cancer vaccine combined with Keytruda in treating postoperative melanoma.
World Bank Global AI and Digital Summit (Seoul)
The World Bank Global AI and Digital Summit is held in Seoul from October 19 to 22. According to Bloomberg, the summit focuses on AI implementation and governance in developing countries and is a signal of multilateral development banks stepping up AI sovereignty capabilities.
Brazil to hold second round of presidential election
On October 25, 2026, Brazil will hold the second round of its presidential election. According to Xinhua, in the first round held on October 4, since no candidate received more than 50% of valid votes, the top two candidates advanced to a runoff.
Earnings
US stocks: Tesla, Meta, IBM, Texas Instruments earnings
The US mega-cap earnings season erupts in a concentrated manner. Netflix fires the opening shot, while Tesla Motors (NASDAQ: TSLA), Meta, IBM, Texas Instruments, and Lam Research appear on the same stage (mostly after the close). The market is watching Tesla's deliveries and energy business, Meta's AI capital expenditure guidance, and order visibility on the semiconductor equipment side.
A/H shares: CATL, Cambricon, Hygon Information, China Mobile, China Telecom earnings
On the A-share side, Contemporary Amperex Technology Co., Limited (SZSE: 300750) discloses its third-quarter report, with power battery and energy storage shipments serving as the anchor for validating global new energy景气. Cambricon, Hygon Information, Ping An Bank, and Tianqi Lithium follow. On the Hong Kong stock side, China Mobile and China Telecom release results during the week.
South Korea's third-quarter earnings season will officially kick off in the week of October 19
JPMorgan's Asia-Pacific equity research team believes South Korea's third-quarter earnings season will officially kick off in the week of October 19, and the recent sharp pullback in memory chip stocks is creating a medium-term buying opportunity. Samsung Electronics' full third-quarter earnings and conference call are scheduled for Thursday, October 29 at 10:00 a.m. Korea Standard Time (09:00 a.m. Beijing time). SK Hynix's third-quarter financial report and earnings call are expected on October 28.
Shanghai Stock Exchange/CSI revised Shanghai index series officially implemented
The compilation revision of the Shanghai index series takes effect on October 26. According to CSI, it involves sample weights and ST cleanup, passive funds will rebalance, and attention is on large-cap blue chips and delisting-risk stock disruptions.
Dongxing Securities and Xinda Securities to be delisted on October 19
CICC announced that it plans to absorb and merge the two companies by issuing A-shares to all A-share shareholders of Dongxing Securities and Xinda Securities in a share swap. The transaction was approved by the CSRC on September 7. The Shanghai Stock Exchange decided to terminate the listing of Dongxing Securities and Xinda Securities shares. The shares of both companies will be delisted on October 19 and will not enter the delisting consolidation period. After delisting and before the share swap procedures are completed, the original A-share shareholder accounts of the two companies will no longer show the corresponding stock market value. The share swap will be executed according to the previously disclosed swap ratio, and the odd-lot handling rules may affect shareholder swap results.
Major events for the week after next: early warning
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