Xinhua Finance Morning News: July 30

Deep News
Jul 30

Nine government departments jointly issued a notice on strengthening the development and utilization of data in the science and technology finance sector, emphasizing the need to enhance the open sharing and integrated application of data in this field.

Broad-based ETFs saw trading volume exceed 100 billion yuan for a second consecutive day, with funds continuing to flow into the market through ETFs since the beginning of July.

The US Federal Reserve kept interest rates unchanged for the fifth consecutive time this year, with three dissenting votes. International oil prices surged over 7% intraday, while US stocks closed sharply lower in the final trading hour.

In response to the US Federal Communications Commission's announcement of import restrictions on advanced robots manufactured abroad, including humanoid robots where China holds a dominant position, Chinese Foreign Ministry spokesperson Mao Ning stated at a regular press conference on July 29 that China consistently opposes the US' practice of overstretching the concept of national security to suppress Chinese companies. Protectionism will not enhance US competitiveness but will only harm the interests of US businesses and consumers. China will continue to take necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises.

A spokesperson for the Chinese Ministry of Commerce, in response to a question regarding the US Department of Defense's inclusion of some Chinese research institutions on a sanctions list, urged the US to stop its groundless smearing of Chinese research institutions and to correct its erroneous practices as soon as possible, providing fair, just, and non-discriminatory treatment. China will take necessary measures to protect the legitimate rights and interests of its research institutions and safeguard normal scientific and technological exchanges and cooperation.

The People's Bank of China, along with eight other government departments, recently issued a joint notice on strengthening data development and utilization in the science and technology finance sector. The notice insists on enhancing the open sharing and integrated application of data in this field, aiming to provide stronger data and financial support for accelerating high-level technological self-reliance. It clarifies support for technology information user institutions to standardize the use of public science and technology data, encourages local authorities to provide authorized information access channels for tech enterprises, and promotes models such as information inquiry and joint modeling.

Rui Wenbiao, Deputy Director of the China National Intellectual Property Administration, stated at a press conference on July 29 that in the first half of this year, China granted 453,000 invention patents, approved 2.055 million registered trademarks, identified 64 geographical indication products, approved 8 geographical indications for registration as collective or certification marks, issued 5,061 integrated circuit layout design registration certificates, and approved the construction of 2 new national-level intellectual property protection centers and 6 rapid rights protection centers. The number of enterprises benefiting from patent and trademark pledge financing nationwide exceeded 19,000. As of the end of June, China's high-value invention patents reached 2.36 million, with the number of high-value invention patents per 10,000 people rising to 16.8.

The General Office of the Ministry of Commerce issued a notice on July 29 regarding further efforts to promote the construction of "15-minute convenient living circles" in cities. The notice requires local governments to accelerate progress, delineate the total number of convenient living circles, specify the number to be built each year, and ensure the completion of the national target of building 10,000 convenient living circles by 2026, while maintaining quality.

On July 29, trading volume in broad-based ETFs continued to expand. Following a single-day trading volume of over 100 billion yuan the previous day, the total daily trading volume further increased to 109.733 billion yuan, with 23 products having trading volumes exceeding 10 billion yuan. Notably, funds have been consistently flowing into the market through ETFs since July. As of July 28, the total net inflow into ETFs in the market for the month reached 435.988 billion yuan, with broad-based ETFs seeing a net inflow of 258.145 billion yuan, becoming a key area for fund allocation.

Market sources indicate that the Price Supervision and Anti-Unfair Competition Bureau of the State Administration for Market Regulation has scheduled a photovoltaic industry price compliance guidance activity for July 31, inviting participants including the China Photovoltaic Industry Association and relevant photovoltaic companies. A senior executive from a photovoltaic module company confirmed the event, stating it will be held in Yancheng, Jiangsu Province. The purpose is to guide the photovoltaic industry in strengthening cost accounting and implementing the "General Rules for Cost Accounting Models in the Photovoltaic Industry."

The "15th Five-Year Plan" for the Development of the Postal Industry, jointly issued by the State Post Bureau, the National Development and Reform Commission, and the Ministry of Transport, was released on July 29. It sets targets for 2030, including a total postal and delivery volume of 290 billion items, an on-time delivery rate of 88% for express services within 72 hours to key areas, and coverage of international express delivery networks to 110 countries and regions.

The State Administration for Market Regulation approved and released the national standard "Guidelines for Risk Classification and Evaluation of Intelligent Household Appliance Quality and Safety," which will be implemented from February 1, 2027.

Data from the China Academy of Information and Communications Technology shows that in June 2026, mobile phone shipments in the domestic market totaled 19.149 million units, a year-on-year decrease of 15.3%. Of these, 5G mobile phones accounted for 16.201 million units, a year-on-year decrease of 12.1%, representing 84.6% of total shipments for the period.

According to the China Federation of Logistics and Purchasing, the total social logistics value in China for the first half of the year was 181.1 trillion yuan, a year-on-year increase of 5.1% at comparable prices, maintaining a relatively fast growth rate of over 5%.

A source from the Commercial Aircraft Corporation of China (COMAC) reported that on July 29, the first C919 high-altitude variant aircraft completed takeoff and landing at Shanghai Pudong International Airport, marking the completion of its first flight test.

Midea Group stated on its interactive platform that due to the persistent extreme heatwave in Europe, local demand for air conditioners has surged. Midea's air conditioner production bases in Wuhu and Guangzhou have received an additional 200,000 units of European orders within a month. The PortaSplit mobile split air conditioner has seen new orders exceed 160,000 units since June. In July, 20,000 units of a 30,000-unit emergency order for mobile air conditioners from France have already been shipped.

Jiangsu Hengrui Pharmaceuticals Co., Ltd. announced that it has received approval from the National Medical Products Administration for the market launch of its self-developed Class 1 therapeutic biological product, Shudi Insulin Injection. This product is the first self-developed long-acting insulin analog in China.

GigaDevice Semiconductor (Beijing) Inc. announced that its controlling shareholder and actual controller, Zhu Yiming, cumulatively reduced his holdings in the company by 1.58% of the total share capital between May 6 and June 12, 2026, with a total reduction amount of approximately 4.4 billion yuan. Zhu Yiming plans to increase his holdings in the company from December 13, 2026, to July 29, 2027, with an increase amount of not less than 1 billion yuan. Additionally, Zhu Yiming has proposed that the company repurchase shares worth between 1 billion yuan and 2 billion yuan for cancellation and reduction of registered capital. Furthermore, Zhu Yiming has voluntarily committed not to reduce his holdings in the company for the next 12 months.

Xingyun Technology Co., Ltd. announced that its wholly-owned subsidiary has signed a supplementary agreement for computing power services, increasing the contract value to 3.053 billion yuan, a rise of 201.14% compared to the original agreement.

Haoneng Co., Ltd. plans to invest in the construction of a robot joint reducer production base project. The project plans an investment of 1 billion yuan and, upon completion, is expected to have an annual production capacity of 5 million robot joint reducers.

Western Mining Co., Ltd. released its semi-annual report for 2026, showing a 25% year-on-year increase in revenue to 39.443 billion yuan, and a 123% year-on-year increase in net profit to 4.169 billion yuan.

According to Shenzhen JieJiaWeiChuang Electronic Technology Co., Ltd., its subsidiary, Chuangwei Microelectronics, has recently completed verification of its self-developed photomask cleaning equipment at multiple terminal Fab plants and achieved mass production and delivery. The provided equipment meets advanced process requirements in terms of particle control, watermarks, and surface cleanliness.

Airbus SE released its semi-annual report for 2026 on July 29, showing revenue of approximately 33.2 billion euros in the first half of the year, a 12% year-on-year increase. The company's adjusted earnings before interest and taxes exceeded 2.7 billion euros, a 24% year-on-year increase; net profit exceeded 2.2 billion euros, a sharp 47% year-on-year increase. The report also showed that Airbus delivered 351 commercial aircraft in the first half of 2026, up from 306 in the same period of 2025.

L'Oréal Group released its semi-annual report for 2026 on July 29, showing group revenue of 23.77 billion euros in the first half of the year, a 5.8% year-on-year increase based on reported figures. On a like-for-like structure and at constant exchange rates, the group's organic revenue growth in the first half reached 6.8%, with an adjusted organic growth of 6.5%.

According to German media reports on July 29, to reduce costs, German automaker BMW Group plans to cut approximately 8,000 jobs globally by the end of 2027. BMW expects the personnel adjustment to incur one-time costs of about 1 billion euros, including voluntary severance packages for non-production employees in Germany. The compensation plan is only being offered in Germany, and it is expected that over half of the job cuts will be in Germany.

The US Federal Reserve concluded its two-day monetary policy meeting on July 29, announcing that the Federal Open Market Committee agreed to keep the federal funds rate target range unchanged at 3.5% to 3.75%, though internal divisions were evident. The decision was in line with market expectations and marked the fifth consecutive time the Fed has kept rates unchanged this year. Notably, three of the 12 members of the Federal Open Market Committee voted against the decision to hold rates steady, advocating for a 25 basis point rate hike.

According to reports from Fox News on July 29, US President Donald Trump stated that he would launch an attack on Iran in response to its assault on US troops in the Middle East. Affected by this news, international crude oil futures prices rose significantly on July 29, with both New York crude oil futures and London Brent crude oil futures surging over 7% intraday.

According to a Reuters report on July 29 citing Iranian senior officials, Iran has rejected a regional mechanism proposed by Oman for the joint management of shipping through the Strait of Hormuz. Iran also proposed that for vessels transiting the strait, one of the entry and exit routes must pass entirely through Iranian waters, while the other must also partially pass through Iranian waters.

Data released by the German Institute for Employment Research on July 29 showed that Germany's labor market barometer index fell by 0.2 points from the previous month to 99.4 points in July. The employment sub-index dropped by 0.5 points from the previous month to 99.4 points, below the neutral level of 100 points; the unemployment sub-index rose slightly by 0.1 points from the previous month, also at 99.4 points. The European Labor Market Barometer index, released simultaneously, remained at 100.1 points for the second consecutive month, slightly above the neutral level of 100 points.

The New Zealand government granted a license to a private company on July 29, allowing it to conduct a 12-year oil exploration project in the offshore area of the Taranaki Basin, marking the first such license since the ban was lifted last year.

Data released by Japan's Ministry of Internal Affairs and Communications on July 29 showed that as of January 1 this year, Japan's domestic population was approximately 119.73 million, falling below 120 million for the first time in 42 years. The data indicated a decrease of 916,744 people from the previous year, the largest decline since the survey began in 1968. The number of newborns in Japan last year was approximately 670,000, a record low. Japan's domestic population has been declining for 17 consecutive years.

As of the close of trading on July 29 in the Eastern Time Zone, the three major US stock indices collectively declined, with a sharp sell-off in the final hour of trading. The Dow Jones Industrial Average fell 2.19%, the Nasdaq Composite fell 1.74%, and the S&P 500 Index fell 1.52%. Sector-wise, eight of the 11 sectors in the S&P 500 declined, while three rose. The industrial and technology sectors led the decline, falling 3.24% and 2.50%, respectively, while the energy and consumer staples sectors led the gains, rising 1.98% and 0.26%, respectively.

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