GMT EIGHT - OPPORTUNITIES IN CHINA

Token calls increased sixfold! Huawei: Operation capacity has become the biggest bottleneck for AI computing power, should not be obsessed with single-chip processes.

Recently, Huawei's China Enterprise Internet System Department held a media communication meeting for the Internet industry, explaining the pain points of Internet AI computing power industry, the integrated technology solution of computing and storage networks, the development of Ascend open source ecosystem, the landing path of hierarchical computing power, and the long-term industrial ecological layout. During the communication with media such as Sina Technology, Huang Jian, General Manager of Huawei's China Enterprise Internet Industry, frankly stated that compared to the gradual and adaptable pace of industrial iteration in the era of appliances, the explosive growth in the use of Tokens in the current AI field has far exceeded the speed of adaptation in society and the industry, leading to widespread anxiety about AI transformation across industries. "It is expected that between 2027 and 2030, token economy will fully impact all operational behaviors and work frameworks, and digesting such a huge transformation within just three years has brought immense pressure and challenges to the entire industry," Huang Jian said. He cited institutional data indicating that in the past six months, token consumption has increased by 6 times, and model invocation has increased by about 50 to 100 times. This growth trend will inevitably drive the rise of demand for upstream and downstream supporting services such as computing power services, data storage, and network services.

CSRC agrees to register hot-rolled coil plate and stainless steel futures options.

Recently, the China Securities Regulatory Commission approved the registration of hot-rolled coil and stainless steel options on the Shanghai Futures Exchange.

PBOC: Will conduct overnight reverse repurchase operations from July 29 to July 31 and August 3.

The People's Bank of China will conduct overnight reverse repurchase operations on July 29 to July 31 and August 3, using fixed interest rates and quantity tendering.

Shenzhen Stock Exchange revises and releases guidance on key focus areas for ABS review, continuously strengthening the institutional foundation for market development.

On July 24th, the Shenzhen Stock Exchange issued the "Shenzhen Stock Exchange Asset-backed Securities Listing Condition Review Business Guidelines No. 2 - Key Focus Areas for Review (Revised in 2026)".

State Internet Information Office and Ministry of Public Security jointly announced the "Provisions on Simplified Measures for the Protection of Personal Information by Small-scale Personal Information Handlers"

Recently, the Cyberspace Administration of China and the Ministry of Public Security jointly announced the "Provisions on Simplified Measures for Personal Information Protection by Small-scale Personal Information Handlers".

The State Internet Information Office and the Ministry of Public Security jointly released the "Regulations on Simplified Measures for Personal Information Protection of Small Personal Information Handlers".

Recently, the Cyberspace Administration of China and the Ministry of Public Security jointly announced the "Regulations on Simplified Measures for Personal Information Protection of Small Personal Information Handlers", which will be implemented from September 1, 2026. An official from the Cyberspace Administration of China stated that according to the Personal Information Protection Law, the Cyberspace Administration coordinates with relevant departments to develop specialized personal information protection rules and standards for small personal information handlers. The formulation of the regulations is an important measure to implement the decision and deployment of the Central Committee of the Communist Party of China, and to implement the relevant requirements of the Personal Information Protection Law. It is conducive to both upholding the bottom line of personal information security and reducing the compliance costs of small personal information handlers, improving the level of personal information protection for small personal information handlers, and providing legal guarantees for the innovation and development of small and medium-sized enterprises.

Consultation summary on suggestions for enhancing the competitiveness of the listing mechanism released by HKEX

On July 24th, the Hong Kong Stock Exchange issued a "Consultation Summary" on proposals to enhance the competitiveness of the listing mechanism in Hong Kong.

The People's Bank of China issues a notice on the public solicitation of opinions on the "Regulations on the Operation of Stored Value Account Type II Business".

People's Bank of China: The People's Bank of China will conduct overnight reverse repurchase operations from July 29th to July 31st and on August 3rd, using fixed interest rates and quantity bidding. A total of 600 billion yuan will be conducted daily from July 29th to July 31st, and 300 billion yuan will be conducted on August 3rd.

The Hong Kong Securities and Futures Commission has optimized the regulatory framework for single-day leverage and inverse products to ensure orderly trading in the market.

This optimization measure adopts a balanced approach by daily disclosing the target leverage multiple and reducing the risk of significant tracking deviations when the market environment rapidly changes. This helps to support the orderly operation of leveraged and inverse products in different market conditions, as well as maintains the effectiveness of these products as investors' daily trading and hedging tools.

Lowering targets, raising expectations... Citigroup "bullish" on Palantir (PLTR.US): Strong performance in commercial and federal business, reiterates "buy" rating.

Citigroup analyst Tyler Radke reiterated a "buy" rating on Palantir while lowering the target price from $225 to $200, but raising the profit expectations.

AI bull market internal cracks widening! Analysts recommend: stay away from "bleeding" tech giants and buy chip stocks.

Analysts recommend investors to avoid super-sized cloud service providers such as Alphabet (GOOG.US, GOOGL.US), Meta (META.US), and Amazon (AMZN.US).

Hong Kong's communication network continues to iterate: CMHK will terminate 3G services in October, focusing resources to empower the development of 4G/5G.

The Office of Communications Authority of Hong Kong has approved the application from SmarTone Telecommunications Holdings Limited to terminate the provision of third generation mobile (3G) services on October 9, 2026.

Insurance Authority of Hong Kong: Total gross premiums in the first quarter of 2026 reached HK$291.6 billion, representing a year-on-year increase of 32.3%.

The Hong Kong Insurance Authority announced the provisional statistics for the first quarter of 2026 on July 24, 2026.

Wong Ka-wa will take over as the Director-General of the Hong Kong Civil Aviation Department on August 10th.

Current Deputy Director of the Hong Kong Civil Aviation Department, Wong Ka Wah, will assume the position of Director of the Hong Kong Civil Aviation Department on August 10, 2026, succeeding Cheok Chi Yung who will start his pre-retirement leave on the same day.

The Ministry of Industry and Information Technology's Equipment Industry Division sent officials to conduct supervision and inspection at relevant automobile production enterprises.

Next, the Equipment Industry Department of the Ministry of Industry and Information Technology will continue to organize supervision and inspection of automobile and motorcycle production enterprises and products, and will strictly deal with companies found to have problems in accordance with the law and regulations, resolutely maintain the bottom line of automobile product safety, and effectively safeguard the legitimate rights and interests of consumers.

Two departments: Individuals who place their assets into offshore trusts and gain income through offshore trusts shall declare and pay personal income tax as required.

On July 24th, the Ministry of Finance and the State Administration of Taxation issued the "Announcement on Individual Income Tax Matters related to Offshore Trusts".

Spokesperson of the Ministry of Commerce answers questions on the inclusion of 14 EU entities in the export control list.

The spokesperson of the Ministry of Commerce answers questions regarding the inclusion of 14 EU entities in the export control and management list.

Ministry of Commerce: 14 EU entities added to export control list.

This announcement will officially take effect from the date of publication.

The spokesperson of the Ministry of Commerce answered questions from reporters regarding the inclusion of 14 EU entities in the export control list.

Question: On July 24, 2026, the Ministry of Commerce released a control list to the outside world, what are your thoughts on this? On the evening of July 23, Beijing time, the European side officially announced the 21st round of sanctions against Russia, sanctioning 14 mainland China and Hong Kong enterprises. In order to safeguard national security and interests, fulfill international obligations such as non-proliferation, and in response to the European side's above-mentioned malicious actions, in accordance with relevant provisions of the Export Control Law of the People's Republic of China and the Regulations on the Control of Dual-Use Items Exported by the People's Republic of China, China has decided to include Lafarge Group and 14 other EU entities on the export control list, prohibiting exporters from exporting dual-use items to the above-mentioned entities, and prohibiting overseas organizations and individuals from transferring or providing dual-use items originating from the People's Republic of China to the above-mentioned entities.

Ministry of Finance and State Taxation Administration issue Announcement on Relevant Matters of Individual Income Tax on Offshore Trusts.

The Ministry of Finance and the State Administration of Taxation issued the "Announcement on Issues Related to Individual Income Tax on Offshore Trusts". It is pointed out that individuals who transfer property to offshore trusts and earn income through offshore trusts are considered income as defined in the second article of the "Individual Income Tax Law of the People's Republic of China" and should declare and pay individual income tax according to the provisions of this announcement. For resident individuals, if they become non-resident individuals during the existence of an offshore trust, the taxable income shall be the market value of the offshore trust assets on the day the individual becomes a non-resident individual minus the original value. The resident individual shall declare and pay individual income tax according to the categories of "interest, dividends, and bonuses income". For the period from January 1 of the year when the individual becomes a non-resident individual to the date of becoming a non-resident individual and the previous years in which personal income tax was not paid when it should have been, the resident individual shall declare and pay according to the provisions of this announcement.

Ministry of Agriculture and Rural Affairs: Support regions with conditions to accelerate the construction of new infrastructures such as charging piles and charging stations.

On July 24, Zhang Xingwang, Vice Minister of the Ministry of Agriculture and Rural Affairs, stated at a press conference of the State Council Information Office that the Ministry of Agriculture and Rural Affairs will promote the implementation of a project to improve rural living conditions, coordinate and promote the construction of rural infrastructure such as water, electricity, roads, and communication, and support areas that meet the conditions to accelerate the construction of new infrastructure such as charging poles and charging stations.

Consumption resilience exceeded expectations! UK retail unexpectedly grew by 1% in June, but the "three-fold benefits" cannot hide the fragility of the recovery.

British retail sales exceeded expectations once again, with a strong growth in June.

Rising oil prices reignite inflation threat, global bond market faces new round of intense selling.

The global bond market is experiencing a new round of intense selling.

SK Hynix is recruiting 3D stacked DRAM logic design engineers.

SK Hynix is currently recruiting 3D stacked DRAM logic design engineers through its American subsidiary located in San Jose, California. It is reported that this storage giant has established a partnership with a specific customer to apply this technology. In the recruitment announcement, SK Hynix claims: "We are looking for outstanding talents who can work closely with American customers to lead the joint design of 3D stacked DRAM logic chips."

New Stock News | Jiangnan Mining Plans to List on Hong Kong IPO and is Currently Selecting Mining Consultants.

On May 24, 2026, Jiangnan Mining announced that the Board of Directors had approved the proposal to carry out preliminary preparations for a Hong Kong Stock Exchange IPO. The management was authorized to begin the preliminary preparations and to make subsequent decisions based on the progress.

National Energy Administration: In June, China's Green Certificate Price Index closed at 181.0 points, up 23.2% year on year.

The National Energy Administration has released the China Green Certificate Price Index.

Wang Xing Xing on the cover of Time magazine

Yesterday, Yu Tree Technology founder and CEO Wang Xingxing appeared on the cover of Time magazine with their manned exoskeleton product GD01. In the image, GD01, who is nearly 2.7 meters tall, occupies almost the entire page, while Wang Xingxing stands on the right side of GD01, looking insignificant in comparison. The title "The Era of Robots is Coming" is shown in the empty space.

A-shares market closing review | Shanghai Composite Index down 1.61%, A-shares decline on shrinking volume, semiconductor sector surges in the afternoon.

As of the close, both markets fell, with the Shanghai Composite Index dropping 1.61% to 3814.20 points, with a turnover of 915.4 billion yuan; the Shenzhen Component Index fell 2.47% to 13774.68 points, with a turnover of 1004.1 billion yuan.

Ministry of Agriculture and Rural Affairs: Preliminary results show the comprehensive control of pig production capacity.

On July 24, Zhang Xingwang, Deputy Minister of Agriculture and Rural Affairs, stated at a press conference of the State Council Information Office that the comprehensive regulation of pig production capacity has begun to show initial results. The stock of sows has been reduced to 37.8 million, returning to the green and reasonable range of production capacity regulation.

"Two high courts" have revised judicial interpretations to increase efforts in cracking down on insider trading and the leaking of insider information crimes.

Today, the Supreme People's Court and the Supreme People's Procuratorate jointly issued a decision on amending the "Interpretation of the Supreme People's Court and the Supreme People's Procuratorate on Several Issues concerning the Specific Application of Laws in Criminal Cases of Insider Trading and Leaking Insider Information," which will take effect on July 27, 2026.

"9.44 trillion Korean won sky-high divorce case 'hammered down'! Cash carve-out avoids splitting crisis, SK Hynix (SKHY.US) alert lifted"

The court ultimately ruled that SK's leader, Choi Tae-young, must pay his ex-wife 944 billion Korean won for the division of cash assets.

Executive board member of the European Central Bank, Nagerl: The central bank is in a favorable position to respond to energy shocks, and the interest rate decision in September will closely monitor data and the situation in the Middle East.

European Central Bank Governing Council member and President of the German Bundesbank, Joachim Nagel, stated on Friday that the European Central Bank is currently in a favorable position to address the challenges posed by the surge in energy prices. He emphasized the need to thoroughly evaluate the significant amount of economic data coming in before deciding whether to raise interest rates in September.

Referred and endorsed by Lycra and Sanofi! Scribe Therapeutics (SCTX.US) is increasing the size of its IPO: raising approximately $129 million at the highest price, and will debut on the US stock market on Friday.

The company supported by Lai Company, Scribe, raised $128.7 million by expanding its IPO size.

Trump threatens "massive attacks" on Iran, global inflation alarm rings again.

The president of the United States, Donald Trump, stated that he is considering launching a "major attack" on Iran to force Iran to return to the negotiating table, a move that could further push up energy prices that are already putting pressure on the global economy.

National Energy Administration: In June, the country issued 373 million green certificates for renewable energy generation projects, involving 1.2475 million renewable energy generation projects.

The National Energy Administration released the data on the issuance and trading of national renewable energy green power certificates in June 2026.

Morgan Stanley warns: AI storage frenzy approaching inflection point, memory prices may peak in the fourth quarter.

Morgan Stanley's Asia and Europe technology research director Shawn Kim issued a warning: the AI-driven storage industry frenzy is reaching a turning point.

The Hong Kong government has re-appointed Chen Zuheng as the chairman of the Hong Kong Productivity Council, effective August 6th.

On July 24, the Hong Kong SAR government announced that the Chief Executive has reappointed Chen Zuheng as the Chairman of the Hong Kong Productivity Council (HKPC) for a term of two years, effective from August 6, 2026.

A shares midday report | Multiple factors affecting the market! The three major indexes all fell by more than 1%, with over 4900 individual stocks declining.

The three major A-share indexes opened collectively lower, with the Shanghai Composite Index falling by 1.2%, the Shenzhen Component Index falling by 1.77%, and the ChiNext Index falling by 1.78% by midday closing.

Black Sea and Red Sea are both in double trouble! American oil is being crazy "snapped up" by buyers from Asia and Europe, causing a surge in WTI premiums.

The increasing demand for American crude oil from Asia and Europe is one of the first signs of market concerns about the adequacy of oil supply intensifying amid frequent geopolitical hotspots.

The Hong Kong dollar interest rate has varied. The one-month interbank interest rate fell by 0.851 basis points to 2.70619%.

On July 24th, the Hong Kong dollar lending rate varied, with the one-month interbank rate related to mortgages reporting a decrease of 0.851 basis points to 2.70619%.

Commodity futures morning session closing

Shanghai crude oil rose by 6.26% continuously, palladium fell continuously by 5.68%, platinum fell continuously by 4.94%, silver fell continuously by 4.82%, and ethylene glycol rose continuously by 4.35%.

IBM doubles down on quantum computing: Acquires HRL Laboratories to build "superconducting + spin" dual-track strategy.

On Thursday local time, IBM announced that it has agreed to acquire private quantum computing research institution HRL Laboratories jointly owned by Boeing and General Motors.

Microsoft Corporation (MSFT.US) and Databricks extend strategic partnership to the 2030s, jointly promoting the large-scale implementation of enterprise AI.

On July 23, Microsoft (MSFT.US) and the data and artificial intelligence company Databricks announced an expansion of their strategic partnership which has lasted for over a decade. The collaboration period has been extended to the 2030s.

The Shenzhen Component Index fell by 2.02% to 13838.595 points; the Shanghai Composite Index fell by 1.27% to 3827.673 points; and the ChiNext Index fell by 2.13% to 3499.389 points.

The Hang Seng Technology Index fell more than 2%, now trading at 4604.160 points; the Hang Seng Index is currently down 1.390%.

Ministry of Commerce: Online retail sales increased by 4.8% in the first half of the year, with intelligent exoskeletons leading the way with a growth of 458.4%.

According to data from the National Bureau of Statistics, online service retail sales increased by 6.0%. According to business big data monitoring, online sales of tourism and catering increased by 27.2% and 13.9% respectively.

The South Korean KOSPI index fell more than 5%, with Samsung Electronics and SK Hynix both dropping more than 6%.

The three major A-share indexes all fell more than 1%.

Shanghai Composite Index fell by 1.00% to 3837.933 points; Shenzhen Component Index fell by 1.30% to 13939.579 points; ChiNext Index fell by 1.26% to 3530.376 points.

Oil prices topping $100 and the looming rate hike double pressure! Gold price launches $4000 defense battle.

With the escalation of the conflict in the Middle East exacerbating the pressure on rising energy prices, and raising expectations that the Federal Reserve will tighten monetary policy to curb inflation, the price of gold has fallen.

Latest

10 h ago

Haitai Xinguang: Plans to repurchase shares worth 50-100 million yuan, some shareholders are still in the reduction period.

10 h ago

China Petroleum and Chemical Corporation (00386.HK) repurchased 1 million A-shares for 5.184 million yuan on July 24th.

10 h ago

Haitai Xinguang: First time repurchasing shares through centralized bidding, amounting to 14.9724 million yuan.

10 h ago

CSRC agrees to register hot-rolled coil and stainless steel options.

10 h ago

Token calls increased sixfold! Huawei: Operation capacity has become the biggest bottleneck for AI computing power, should not be obsessed with single-chip processes.

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