Today's financial briefing covers 19 policies to standardize domestic service pricing, a 22 billion yuan allocation to support the scrapping of old commercial trucks, and the distribution of child-rearing subsidies to 25 million people in 2026.
The 2026 World Artificial Intelligence Conference has concluded, with expected intended procurement amounts exceeding 20 billion yuan.
The Cyberspace Administration of China reported the handling of 759 impersonation and counterfeit websites.
The STAR 50 index surged over 10%.
The latest China 500 list is out, with State Grid ranking first and POP MART making its debut.
BBA collectively announced significant price reductions.
The White House announced it will impose an additional 50% tariff on specific Canadian goods.
19 Policies to Standardize Domestic Service Pricing
The Ministry of Commerce and eight other departments issued several policy measures on July 20 to promote the high-quality development of the domestic service industry. The document, addressing current bottlenecks and challenges, proposes 19 policies across five key areas to foster high-quality growth and stimulate consumption in the sector.
22 Billion Yuan to Support Scrapping of Old Commercial Trucks
On July 21, Cai Tuanjie, Safety Director of the Ministry of Transport and Director of the Transport Service Department, stated at a State Council Information Office press conference that the action to scrap and replace old commercial trucks will continue in 2026. A 220 billion yuan ultra-long-term special government bond will be allocated to support this initiative, with a focus on replacing them with new energy heavy-duty trucks. This "Two News" policy aims to further boost consumption in the new energy heavy-duty truck market.
2026 Child-Rearing Subsidies Distributed to 25 Million People
According to the National Health Commission, as of now, 27.51 million applications for the 2026 annual child-rearing subsidy have been submitted, with 27.13 million approved and subsidies distributed to 25.16 million people.
2026 World AI Conference Concludes with Over 20 Billion Yuan in Expected Procurement
The 2026 World Artificial Intelligence Conference and the High-Level Meeting on Global AI Governance concluded in Shanghai on July 20. The exhibition covered 100,000 square meters, featured 4,486 exhibits, and saw 351 products make their global debut. The event hosted 177 important global procurement delegations, with expected intended procurement amounts reaching approximately 20.36 billion yuan, a year-on-year increase of about 25%.
Cyberspace Administration Handles 759 Impersonation Websites
In the first half of this year, the Cyberspace Administration of China's reporting center transferred and handled 759 impersonation and counterfeit websites, a 150% increase compared to the same period in 2025. These involved five types of websites: party and government organs, public institutions, enterprises, social organizations, and international organizations. Netizens are reminded to verify website domains, ICP filings, and sponsor information when visiting sites.
STAR 50 Index Soars Over 10%
On July 21, the market bottomed out and rebounded, with the ChiNext Index rising over 7% and the STAR 50 Index surging 10.73%. The combined turnover on the Shanghai and Shenzhen exchanges reached 2.96 trillion yuan, an increase of 255 billion yuan from the previous trading session. Market hotspots rotated rapidly, with over 3,100 stocks rising across the board and more than a hundred hitting their daily limit-up.
Latest China 500 List Released: State Grid Tops, POP MART Debuts
The 2026 Fortune China 500 list was officially released on July 21, covering both listed and non-listed companies. State Grid Corporation of China ranked first with revenue of $555.37 billion, followed by China National Petroleum Corporation and China Petrochemical Corporation in second and third place, respectively. China State Construction Engineering Corporation ranked fourth. Among the newly listed companies, three new consumer firms—POP MART, Mixue Group, and Laopu Gold—attracted attention. All three are listed on the Hong Kong Stock Exchange.
BBA Announces Collective Price Reductions
This year, the traditional luxury car giants BBA (Mercedes-Benz, BMW, Audi) have collectively cut prices. Multiple models from Mercedes-Benz, BMW, and Audi are offering significant discounts. The starting price for the Audi A7L/Q6 has fallen below 300,000 yuan, the BMW 7 Series offers discounts of up to 270,000 yuan, and the Mercedes-Benz GLB has dropped to the 140,000 yuan range. Impacted by domestic new energy vehicles, all three companies saw their sales in China decline last year, with their share of the luxury car market continuing to shrink. Top management reshuffles are underway as they accelerate electrification and partner with Huawei for localization in a bid for self-rescue.
White House Announces 50% Tariff on Specific Canadian Goods
The White House issued an announcement on July 20 local time stating that the United States will impose an additional 50% ad valorem tariff on certain Canadian products. This move is in response to what it calls "discriminatory measures taken by Canada against the United States in trade in automobiles and auto parts." The new tariffs are set to take effect at 00:01 AM Eastern Time on August 19 and will be levied on top of existing relevant tariffs, taxes, and other charges.
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