PBOC said China’s gold reserves rose to 78.30 million ounces at end-October from 77.747 million ounces at end-September, marking the 24th consecutive month of accumulation.

Li Qiang chaired a State Council executive meeting that ordered full use of policy funds with timely, full disbursement to grassroots bodies and enterprises to support domestic demand via fiscal–financial coordination. The meeting called for improving capital-market stabilization mechanisms to strengthen the stock market’s intrinsic stability and promote steady, healthy capital-market development. It directed continued resolution of local government debt risks and risks in small- and medium-sized financial institutions, and instructed study of next year’s economic plan with stronger cross-year policy coordination to sustain the recovery. The meeting also emphasised employment stabilisation and social safety nets — including targeted job support for poverty-alleviated households, minimum-living-subsidy (dibao) households, zero-employment households and distressed graduates — plus measures to safeguard supply and prices, speed disaster recovery, and protect vulnerable households’ living standards.

Analysts say October US nonfarm payrolls were strong but effectively "old news," and the data reinforced market bets on a December Fed rate hike. They flag a larger near-term risk: the scale of an AI-driven equity selloff and whether it could trigger a deeper market rout — a new potential variable for the Fed. Equities appear largely unmoved: S&P 500 futures were roughly flat versus pre-release levels. Post-congressional-election investor attention remains focused on the AI valuation debate.