1. China's consumer price index rose 1.3 percent year-on-year in October, data from the National Bureau of Statistics showed Tuesday, slower than a 1.6 percent rise pace in September, due mainly to falling growth in food prices. October marked the second straight month of slowdown in consumer inflation after three consecutive months of acceleration. Tuesday's data also showed that China's producer price index (PPI), a measure of the country's wholesale factory prices, dropped 5.9 percent on a yearly basis in October, unchanged from a 5.9 percent year-on-year fall in September.
2. President Xi Jinping called for more reform and innovation on Monday as the country prepares to enter its 13th Five-year Plan period.
3. China announced Monday that it will allow direct trading between the Chinese yuan and Swiss Franc in the inter-bank foreign exchange market starting from Tuesday. The move will lower trading costs for China and Switzerland, facilitate use of the two currencies in bilateral trade and investment and boost economic and financial cooperation between the two countries, according to the announcement released by China Foreign Exchange Trade System.
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