The upcoming week brings a dense calendar of market-moving events, with August economic data, a Federal Reserve policy meeting, and a significant index rebalancing all on the docket. Key conferences such as the 2026 SCO Digital Economy Forum and the 13th Beijing Xiangshan Forum are also slated to convene.

Metax Integrated Circuits (Shanghai) Co., Ltd. is set to see a substantial share unlock worth approximately RMB 6.8 billion, while three new IPOs are scheduled to hit the market.

Key Data Release

On September 15, the National Bureau of Statistics is scheduled to publish August data on industrial output, fixed-asset investment, and retail sales. The same day will also see the release of the monthly report on residential property price indices across 70 major cities.

Fed Policy Meeting

The Federal Reserve is set to convene its policy meeting from September 15 to 16. Recent data shows US August CPI rose 3.4% year-over-year, matching the prior reading, while core CPI climbed 2.4%, down from 2.5% previously, with a 0.3% month-over-month increase. Following the CPI release, traders priced in approximately a 90% probability of a rate hike next week, up from around 70% earlier. In a separate move, the European Central Bank raised its deposit facility rate by 25 basis points to 2.50% on Wednesday, with the main refinancing rate and marginal lending rate also increased by 25 basis points to 2.65% and 2.90% respectively, in line with market expectations.

Index Rebalancing

On the afternoon of September 2, FTSE Russell announced review changes to its FTSE China index series. The FTSE China A50 Index will see the inclusion of Advanced Micro-Fabrication Equipment Inc. China and Shengyi Technology Co.,Ltd., while removing Muyuan Foods Group Co.,Ltd. and Wanhua Chemical Group Co.,Ltd. The same day, FTSE Russell also published changes for the FTSE China 50 Index, which will add H-shares of Hua Hong Semiconductor and Montage Technology, while removing Kuaishou and H-shares of SF Holding. These adjustments are scheduled to take effect after the market close on Friday, September 18, 2026.

Major Forums

The 2026 SCO Digital Economy Forum, jointly hosted by the National Data Administration and the People's Government of Xinjiang Uygur Autonomous Region under the theme "Digital Connectivity, Smart Future," will be held from September 14 to 16 in Urumqi. The forum will feature dialogue on digital-intelligent transformation, healthy development of the digital economy, and unlocking the value of data elements, aiming to build consensus and expand space for mutually beneficial digital economy cooperation within the SCO.

The 13th Beijing Xiangshan Forum will take place from September 15 to 17 at the Beijing International Convention Center under the theme "Building Consensus for Stability and Promoting Cooperative Security Governance." The forum will include four plenary sessions covering international order and strategic stability, dilemmas and solutions to regional conflicts, Asia-Pacific security stability and risk challenges, and the role and vision of developing countries. Eight parallel sub-sessions will address topics including major power relations and strategic stability, Asian approaches to security challenges, maritime channel and security governance, risks and control of emerging technology military applications, and the future of space security governance. The 4th China-Africa Peace and Security Forum will also be held concurrently. The Xiangshan Forum aims to foster an equal, inclusive, and pluralistic platform for constructive dialogue, helping all parties build consensus and mutual trust while contributing wisdom to addressing global security and development challenges.

Share Unlocks and New Listings

According to Wind data, approximately 2.798 billion restricted shares will become tradable next week, with a market value of around RMB 47.693 billion based on September 11 closing prices, reflecting a decrease in volume but an increase in value compared to this week. Six companies will see unlock values exceeding RMB 1 billion: Tongling Nonferrous Metals, Sinomach Precision Industry Group, Zhuzhou Smelter Group, Metax Integrated Circuits (Shanghai) Co., Ltd., Cygnus Optoelectronics, and Caidi Industrial, with Tongling Nonferrous Metals and Sinomach Precision each surpassing RMB 10 billion. Notably, domestic GPU maker Metax Integrated Circuits (Shanghai) Co., Ltd. (688802.SH) is set to experience its first significant proportion of restricted share unlock since listing. The company announced on September 9 that 13.966 million shares allocated to institutional investors during the IPO will be listed for trading on September 17. At the September 11 closing price of RMB 489 per share, this unlock is valued at approximately RMB 6.83 billion.

IPO Pipeline

Wind data indicates that three new stocks will be issued next week: one on the Shenzhen main board, one on the ChiNext board, and one on the Beijing Stock Exchange. Kaida Heavy Industry will be issued on September 14, Hongfucheng on September 16, and Lygend Resources on September 18.

Kaida Heavy Industry, a "little giant" enterprise in steel rolling equipment, has set its issue price at RMB 4.26 per share with a price-to-earnings ratio of 13.76 times. According to Wind data, this is the lowest-priced new stock in the A-share market this year. The company reported revenues of RMB 452 million, RMB 460 million, and RMB 477 million for 2023, 2024, and 2025 respectively, with net profits attributable to shareholders of RMB 65 million, RMB 63 million, and RMB 71 million. In the first half of 2026, revenue reached RMB 225 million, up 0.24% year-over-year, while net profit was RMB 33 million, down 9.42%.

Hongfucheng, a leading domestic manufacturer of thermal management materials, will offer 18.7306 million shares in its public offering, with an online subscription cap of 3,500 shares per account. An investor can only subscribe with a Shenzhen market cap of RMB 35,000 for the maximum allotment. The company's revenues were RMB 260 million, RMB 330 million, and RMB 707 million for 2023, 2024, and 2025, with net profits of RMB 35 million, RMB 71 million, and RMB 269 million. For the first half of 2026, revenue surged 66.29% to RMB 435 million, while net profit jumped 94.60% to RMB 176 million.

Lygend Resources, a global leader in the nickel supply chain, will offer 172.89 million shares with an online subscription cap of 51,500 shares per account, requiring a Shenzhen market cap of RMB 515,000 for the maximum allotment. The company reported revenues of RMB 21.286 billion, RMB 29.846 billion, and RMB 40.255 billion for 2023, 2024, and 2025, with net profits of RMB 1.050 billion, RMB 1.768 billion, and RMB 2.862 billion. In the first half of 2026, revenue grew 37.15% to RMB 25.369 billion, while net profit rose 91.87% to RMB 2.739 billion.