The Chinese stock market fell on September 23, following a correction the previous day. The decline was attributed to waning expectations surrounding the upcoming US-China summit. The Shanghai Composite Index closed down 0.39% at 3,936.52, the Shenzhen Component Index dropped 0.64% to 13,636.07, and the ChiNext Index fell 0.60% to 3,379.61.
On September 24, President Donald Trump and President Xi Jinping will hold a summit in Washington, D.C. According to Reuters, while investors initially viewed the summit as a positive signal, they have begun to doubt that trade, technology, and security policies between the two nations will structurally ease. There is a possibility that US-China relations may become more predictable, but the reality of ongoing tensions is becoming clearer.
European trade pressures on China also contributed to the negative sentiment. The European Central Bank (ECB) noted that China's industrial restructuring and manufacturing competitiveness are pushing European companies out of the global market. Fitch Ratings assessed that China's export competitiveness is impacting the Eurozone, particularly Germany, which is heavily reliant on exports. Additionally, the European automotive industry and some political factions are calling for increased local content requirements and tariffs to curb sales of Chinese vehicles.
In contrast, shares related to glass substrates saw gains. Companies such as Woguo Guangdian and Sanxia Xincai hit their upper trading limits. Chen Yanshun, chairman of BOE Technology Group, announced at the 2026 BOE Global Innovation Partner Conference that the company plans to invest over 80 billion yuan in research and development over the next five years. He also stated that investment plans for two mass production lines, including glass substrate perovskite devices and glass substrate packaging substrates, will be finalized within the next year.
Shares related to printed circuit boards (PCBs) also performed well, with Dayasengxiang and Yidun Dianzhi reaching their upper limits. The announcement by Chinese PCB manufacturer Hongruixing of a 10% price increase for copper-clad laminate (CCL) products acted as a positive catalyst.
Meanwhile, the People's Bank of China set the yuan's reference exchange rate at 6.7468 per dollar, a slight increase of 0.0009 yuan from the previous day, reflecting a 0.01% decline in the yuan's value.
* This article has been translated by AI.
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