China Business Daily

6 July 2026 · 07:19 CST · Daily intelligence brief

This edition draws on 24 reports across 9 Chinese outlets.

At a Glance

  • China stock exchanges implement sweeping trading rule changes on July 6, including raising the price limit for mainboard ST stocks from 5% to 10%, expanding after-hours fixed-price trading to all A-shares, and introducing a market maker system on ChiNext. Securities Times, 2026-07-06.
  • Peking University and CAS unveil the world’s first memristor-based neuromorphic dynamics chip, achieving a speedup of 50 to 478 times over current advanced GPUs in brain cortex reconstruction tasks. finance.eastmoney.com, 2026-07-04.
  • PBOC conducts a 1 trillion yuan 3-month outright reverse repo on July 6, net injecting 200 billion yuan after maturities, signalling a shift to net medium-term liquidity injection. Yicai, 2026-07-06.

Top Stories

Policy

  • China stock exchanges to expand daily price limit from 5% to 10% for main board ST stocks · covered by 3 outlets
  • The revised trading rules take effect on July 6, 2026, adjusting the price limit for mainboard risk-warning stocks (ST and ST) from 5% to 10%*, according to the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange. Securities Times, 2026-07-06.
  • After-hours fixed-price trading is expanded from Star Market stocks to all A-shares and ETFs, the ChiNext board introduces a market maker system, and the Beijing Stock Exchange introduces after-hours fixed-price trading, according to the Shenzhen Stock Exchange. Securities Times, 2026-07-06.

  • The closing trading mechanism for funds on the Shanghai Stock Exchange adopts a closing call auction from 14:57 to 15:00, consistent with stocks. m.21jingji.com, 2026-07-06.

  • China adjusts vehicle and vessel tax policy, impact on NEV industry under scrutiny · covered by 1 outlet

  • From January 1, 2027, the vehicle and vessel tax reduction for energy-saving cars and exemption for certain new energy commercial vehicles and fuel cell commercial vehicles will be canceled, according to the Ministry of Finance, State Taxation Administration, and Ministry of Industry and Information Technology. Yicai, 2026-07-05.

  • In May 2026, the penetration rate of new energy vehicles in new car sales reached 62.9%, with pure electric vehicles comprising 67.1% of sales, according to the China Passenger Car Association (乘联会). Yicai, 2026-07-05.

  • China upgrades shopping experience for foreign tourists · covered by 2 outlets

  • On July 1, 2026, the ‘full-process paperless’ and ‘small-amount random inspection’ policies were implemented as key measures of the departure tax refund 2.0 upgrade; for tax refund claims below 10,000 yuan a random sampling inspection is conducted, while claims of 10,000 yuan or more are physically inspected. People’s Daily, 2026-07-06.
  • Chongqing added 73 new departure tax refund stores, bringing the total to 363, and added 28 new ‘instant buy, instant refund’ stores, bringing the total to 78, according to Li Lin, Deputy Director of Chongqing Tax Service and Administration Bureau. People’s Daily, 2026-07-06.

Tech

  • China unveils world’s first next-generation chip breakthrough · covered by 2 outlets
  • Peking University (北京大学) and the Chinese Academy of Sciences (中国科学院) developed the world’s first memristor-based neuromorphic dynamics chip, published in Science; the chip achieves a single-step delay of 2.12 milliseconds and is 50 to 478 times faster than current advanced GPUs in brain cortex reconstruction tasks. finance.eastmoney.com, 2026-07-04.
  • The chip was fabricated using a 40nm process, with an area of 0.28 mm², running at 50 MHz, and with a 9-stage pipeline; compared to current specialized accelerators, it achieves a 3.82x to 36.27x speedup and reduces power consumption by 11.75 to 24.73 times. finance.eastmoney.com, 2026-07-04.
  • The global brain-computer interface medical application market is projected to reach $40 billion by 2030 and exceed $145 billion by 2040, according to McKinsey; China’s brain-computer interface market is forecast to be about 3 billion yuan in 2025 and 12 billion yuan in 2030, according to the China Academy of Information and Communications Technology. Securities Times, 2026-07-05.

Macro

  • PBOC resumes net liquidity injection with trillion-yuan outright reverse repo · covered by 2 outlets
  • The People’s Bank of China conducted a 1 trillion yuan 3-month (91-day) outright reverse repo operation on July 6, 2026; with 800 billion yuan maturing this month, the operation resulted in a net injection of 200 billion yuan, according to the People’s Bank of China (中国人民银行). Yicai, 2026-07-06.
  • A total of 1.7 trillion yuan in buyout reverse repos and 400 billion yuan in MLF are set to mature in July, and DR001 and DR007 have rebounded to around the 1.4% policy rate. Yicai, 2026-07-06.

  • The central bank launched the open market outright reverse repo tool in October 2024, with counterparties being primary dealers and operations generally conducted monthly, according to the People’s Bank of China. finance.eastmoney.com, 2026-07-06.

  • China’s high-tech manufacturing logistics demand rises 15.1% in May · covered by 1 outlet

  • In May, logistics demand related to high-tech manufacturing increased 15.1% year on year, and equipment manufacturing logistics demand grew 9.5% year on year, according to the China Federation of Logistics and Purchasing. People’s Daily, 2026-07-06.
  • In the first five months of 2026, total social logistics value nationwide reached 146.6 trillion yuan, up 5.2% year on year. People’s Daily, 2026-07-06.

Markets

  • Chinese mutual funds favor tech growth stocks in Q3, survey shows · covered by 1 outlet

  • A survey shows that over 70% of public fund managers favor high-growth tech sectors for Q3, with computing power, CPO, and robotics receiving the highest attention; low-valuation blue chips and high-dividend value assets ranked second with nearly 30% of votes. National Business Daily, 2026-07-06.

  • China sees 1.8 million new mutual fund accounts in H1, highest since 2020 · covered by 1 outlet

  • In the first half of 2026, total new fund accounts on the Shanghai Stock Exchange reached 1,831,500, a six-year high for the same period and a 21.73% increase year-on-year; in June 2026, new fund accounts were 233,600. National Business Daily, 2026-07-06.
  • In June 2026, 208 new funds were launched with a total offering size of 120.502 billion yuan, setting monthly highs for the year. National Business Daily, 2026-07-06.

Also Reported

Further developments selected for today’s brief; tap a source to read the original.

Sources

24 source articles across 9 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

China stock exchanges to expand daily price limit from 5% to 10% for main board ST stocks — 4 outlets

China unveils world’s first next-generation chip breakthrough — 4 outlets

PBOC resumes net liquidity injection with trillion-yuan outright reverse repo — 6 outlets

China adjusts vehicle and vessel tax policy, impact on NEV industry under scrutiny — 3 outlets

China’s high-tech manufacturing logistics demand rises 15.1% in May — 1 outlet

Chinese mutual funds favor tech growth stocks in Q3, survey shows — 1 outlet

China sees 1.8 million new mutual fund accounts in H1, highest since 2020 — 2 outlets

China upgrades shopping experience for foreign tourists — 2 outlets

China revokes or revises 123,000 anti-competition policy measures over past decade — 1 outlet

Methodology: stories are clustered across Chinese outlets and ranked by breadth of corroboration and recency. Reporting is descriptive only and is not investment advice. Compiled 6 July 2026 07:19 CST.

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