China Business Daily

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

This edition draws on 56 reports across 16 Chinese outlets.

At a Glance

  • The People’s Bank of China injected 500 billion yuan via a 1-year MLF operation on July 24, with a net injection of 100 billion yuan as 400 billion yuan matured, the third consecutive month of increased renewal. finance.eastmoney.com, 2026-07-24.
  • Changxin Memory Technologies, China’s largest DRAM maker, will list on the STAR Market on July 27 at 8.66 yuan per share, implying a valuation of approximately 580 billion yuan on listing. National Business Daily, 2026-07-23.
  • High-tech foreign direct investment accounted for a record 42.4% of China’s total inbound FDI in H1 2026, growing 33.2% year-on-year, as new foreign-funded enterprises rose 5.3%. People’s Daily, 2026-07-23.

Top Stories

Macro

  • PBOC injects 500 billion yuan via MLF to maintain liquidity · covered by 6 outlets
  • The People’s Bank of China (中国人民银行) conducted a 500 billion yuan Medium-term Lending Facility (MLF) operation on July 24, 2026, with a net injection of 100 billion yuan as 400 billion yuan matured. finance.eastmoney.com, 2026-07-24.
  • The PBOC also conducted 2.4 trillion yuan of reverse repos via outright purchase this month, net injecting 700 billion yuan after offsetting maturing repos, according to the PBOC. finance.eastmoney.com, 2026-07-24.
  • Total medium-term liquidity injection in July reached 800 billion yuan, reversing the previous four-month contraction, according to the central bank. m.21jingji.com, 2026-07-23.
  • Ming Ming (明明), Chief Economist of CITIC Securities (中信证券), attributed the reduced net MLF injection to stable bank long-term liability pressure, while expert Dai Bingjie said the operation helps maintain ample liquidity and supports government bond issuance. finance.eastmoney.com, 2026-07-24.

Company

  • Changxin Memory Tech sets July 27 for STAR Market listing · covered by 4 outlets
  • Changxin Memory Technologies (长鑫科技; a Chinese DRAM maker) will list on the STAR Market of the Shanghai Stock Exchange on July 27, 2026, with an IPO price of 8.66 yuan per share and total share capital of 66.881 billion shares before over-allotment, according to the company. National Business Daily, 2026-07-23.
  • The company expects H1 2026 net profit attributable to shareholders between 50 billion and 57 billion yuan, and is valued at approximately 580 billion yuan upon listing. finance.eastmoney.com, 2026-07-23.

  • Changxin is the largest storage company in China and the fourth largest globally. finance.eastmoney.com, 2026-07-23.

  • Yuejiang Tech’s ChiNext IPO approved in first H-share-to-A-share listing from Greater Bay Area · covered by 4 outlets

  • Yuejiang Technology (越疆科技; a Chinese robotics company) saw its ChiNext IPO application approved by the Shenzhen Stock Exchange on July 22, becoming the first ‘H back to A’ case in the Greater Bay Area after the Shenzhen comprehensive reform pilot policy, taking only 86 days from acceptance to hearing. stock.caijing.com.cn, 2026-07-23.
  • The expected fundraising amount is about 1.2 billion yuan, with 550 million yuan for multi-legged robot R&D and 250 million yuan for humanoid robot technology, according to the company’s plan. finance.sina.com.cn, 2026-07-23.

  • Yuejiang’s Hong Kong-listed shares (02432) opened over 5% higher in morning trade on July 23, with shares at HK$26.50. finance.sina.com.cn, 2026-07-23.

  • Bank of Communications to shut precious metals agency for retail clients · covered by 2 outlets

  • Bank of Communications (交通银行) will close its Shanghai Gold Exchange precious metals agency personal business function effective at the end of daily clearing on July 24, 2026, affecting contract varieties such as Au99.99, Au100g, Au(T+D), etc. finance.caijing.com.cn, 2026-07-24.

  • After closure, customers with existing positions will be unable to conduct closing, selling, or delivery operations via mobile or internet banking, and are advised to close positions and withdraw funds, according to the bank. finance.caijing.com.cn, 2026-07-24.

  • ENN Energy chairman buys 12.78 million HKD of company shares · covered by 1 outlet

  • Wang Yusuo (王玉锁), Chairman of the Board of ENN Energy (新奥能源; a natural gas distributor), increased his shareholding on July 20 and 21, spending a total of approximately HK$12.78 million, after which his shareholding rose to approximately 34.93%, according to an exchange filing. Economic Observer, 2026-07-24.

Trade

  • High-tech FDI accounted for record share of China’s inbound investment in H1 · covered by 3 outlets
  • In the first half of 2026, China’s actual use of foreign capital reached 4021.4 billion yuan, with the decline narrowing by 10.2 percentage points year-on-year, while high-tech industry foreign investment grew by 33.2% and accounted for a record 42.4% of total foreign investment, according to Meng Huating, Director of the Foreign Investment Department of the Ministry of Commerce. finance.china.com.cn, 2026-07-23.
  • New foreign-funded enterprises increased by 5.3% year-on-year, and modern services sector accounted for 57% of foreign investment, with electronic and communication equipment manufacturing growing by 52%, technology achievement conversion services by 57.1%, and R&D and design services by 82%, according to the same official. People’s Daily, 2026-07-23.

  • The Ministry will accelerate the revision of regulations on foreign investors’ mergers and acquisitions of domestic enterprises. finance.china.com.cn, 2026-07-23.

  • Chinese shipbuilders hold 62.2% of global completions and 82.3% of new orders in H1 · covered by 1 outlet

  • In the first half of 2026, China’s shipbuilding completion volume reached 36.5 million deadweight tons, a year-on-year increase of 51.2%, accounting for 62.2% of the world total, while new ship orders were 121.06 million deadweight tons, up 173.1%, representing 82.3% of the global total, according to the Ministry of Industry and Information Technology. People’s Daily, 2026-07-24.
  • China’s share of global green ship new orders has exceeded 68% for three consecutive years and remains high in the first half of 2026, according to the China Association of the National Shipbuilding Industry. People’s Daily, 2026-07-24.

  • Guangzhou Shipyard International has a contract value of nearly 100 billion yuan, with over 95% of orders international and production scheduled through 2030. People’s Daily, 2026-07-24.

  • Chinese tech services going global: big data and AI exports surge · covered by 1 outlet

  • Over the past 5 years, China’s service trade exports have grown at an average annual rate of 14%, and in the first 5 months of 2026, service exports increased by 21% year-on-year, with computer information services, business services, and intellectual property services revenue growing by 17% and contributing 45% of service export growth, according to the State Administration of Foreign Exchange. People’s Daily, 2026-07-24.
  • Neusoft’s global in-vehicle intelligent travel solution version 7.0 received 15 cooperation intentions from the international market within a month of release. People’s Daily, 2026-07-24.

Policy

  • China’s trade-in program drives 1.1 trillion yuan in sales · covered by 5 outlets
  • The consumer goods trade-in policy drove 1.1 trillion yuan in sales in the first half of 2026, benefiting 150 million people, according to the Ministry of Commerce (商务部). economy.caijing.com.cn, 2026-07-22.
  • Under the policy, 3.707 million vehicles were traded in, 63.266 million home appliances, and 79.098 million digital and smart products were purchased new. finance.eastmoney.com, 2026-07-22.

  • In June 2026, new energy vehicles accounted for 65.4% of vehicles receiving trade-in subsidies, and the retail penetration rate of new energy vehicles reached a record 62.4% in Q2 2026. finance.eastmoney.com, 2026-07-22.

  • Shanghai issues measures to boost direct financing for tech firms · covered by 3 outlets

  • Shanghai issued “Several Measures to Strengthen Sci-Tech Financial Services” on July 23, comprising 20 measures in five categories, including establishing a Shanghai Social Security Sci-Tech Innovation Fund and forming specialized sub-funds managed by professional market investment institutions, according to the Shanghai Financial Committee Office (上海市委金融委员会办公室). m.21jingji.com, 2026-07-23.
  • The measures include exploring an S-fund-of-funds to attract more S-funds and upgrading the Shanghai Angel Investment Association to version 2.0, as well as expanding the application of the STAR Market’s fifth set of listing standards to AI and low-altitude economy. Jiemian, 2026-07-23.

  • As of end of June 2026, Shanghai STAR Market companies raised a total of 237.636 billion yuan in IPOs with a total market value of 3.99 trillion yuan. Jiemian, 2026-07-23.

  • China customs rolls out measures to cut trade costs, boost efficiency · covered by 1 outlet

  • In the first half of 2026, China’s foreign trade imports and exports increased by 16.9% year-on-year, with exports up 13.4% and imports up 22.1%, and exports of high-tech products grew by 39%, electric vehicles by 68.7%, and integrated circuits by 88.7%, according to the General Administration of Customs (海关总署). Xinhua, 2026-07-23.

  • Customs has implemented measures such as compressing sea-rail container interchange time to within half an hour and reducing transshipment costs by 20%, and shortening export lithium battery quality inspection from 48 hours to 30 minutes. Xinhua, 2026-07-23.

  • CSRC convenes party-building symposium, no new regulatory measures disclosed · covered by 7 outlets

  • The China Securities Regulatory Commission (CSRC) held a meeting on party building and regulatory work on July 23, 2026, with Chairman Wu Qing attending, outlining seven key tasks including maintaining market stability, deepening reforms, strict regulation, and promoting medium- and long-term funds to increase market entry. www.csrc.gov.cn, 2026-07-23.
  • Separately, Wu Qing met with Canada Pension Plan Investment Board (CPPIB) CEO John Graham on July 21, stating that the CSRC will steadily expand high-level institutional opening and improve convenience for foreign capital participation; CPPIB said it will continue to actively invest in China. stock.caijing.com.cn, 2026-07-23.

Energy

  • China sets 2030 energy consumption target at 1.8 billion tons of standard coal · covered by 5 outlets
  • The 15th Five-Year Plan for Renewable Energy Development, jointly issued by the National Development and Reform Commission (国家发展改革委) and the National Energy Administration (国家能源局), targets total renewable energy consumption of about 1.8 billion tons of standard coal by 2030, and total installed renewable power capacity of about 3.5 billion kW with annual generation of 6 trillion kWh. finance.china.com.cn, 2026-07-23.
  • Wind and solar installed capacity is targeted at least 2.8 billion kW (over 50% of total), generating over 4 trillion kWh (30% of total), and cumulative offshore wind new construction starts will reach about 100 GW by 2030. finance.eastmoney.com, 2026-07-24.
  • Investment in the renewable energy industry during the 15th Five-Year Plan is expected to exceed 5 trillion yuan in total. finance.china.com.cn, 2026-07-23.

Tech

  • Beijing unveils policies to support AI agents, promotes token economy · covered by 3 outlets
  • Beijing issued “Several Measures on Accelerating the Leading Development of Intelligent Agents” on July 23, including 10 initiatives that encourage the development of the Token economy and new business models such as Token-as-a-Service (TaaS), Agent-as-a-Service (AaaS), and Result-as-a-Service (RaaS), according to the Beijing Development and Reform Commission. finance.sina.com.cn, 2026-07-23.
  • The measures support R&D of dedicated inference chips, issue of token vouchers and agent service vouchers, and development of financial products for AI deployment by banks and insurers. National Business Daily, 2026-07-23.
  • The policies also promote integration of intelligent terminals and agents, including developing new smartphones, smart glasses, and smart robots. finance.eastmoney.com, 2026-07-23.

Markets

  • Hong Kong stocks decline: Hang Seng Index down 0.95%, Tech Index down 3.04% · covered by 3 outlets
  • The Hang Seng Index closed at 24,892.66 points, down 239.63 points or 0.95% on July 22, while the Hang Seng Tech Index closed at 4,668.23 points, down 146.6 points or 3.04%, according to East Money data. finance.eastmoney.com, 2026-07-22.

  • Among Hang Seng Index constituents, Xinyi Solar, Laopu Gold, and Zijin Mining had the largest gains, while NetEase, Tencent Holdings, and Kuaishou had the largest losses. finance.eastmoney.com, 2026-07-22.

  • Hong Kong AI stocks gain; Cambridge Technology rises nearly 6% · covered by 3 outlets

  • Cambridge Technology (06166.HK) rose 5.85%, MINIMAX-W (00100.HK) (a Chinese AI large-model developer) rose 4.37%, and Zhipu (02513.HK) rose 4.34% on July 23, according to the National Business Daily. National Business Daily, 2026-07-23.
  • The gains came as the broader Hang Seng Tech Index closed down 3.04% on July 22, with Tencent falling over 7%. m.21jingji.com, 2026-07-22.

Also Reported

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

Sources

56 source articles across 16 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

PBOC injects 500 billion yuan via MLF to maintain liquidity — 6 outlets

Changxin Memory Tech sets July 27 for STAR Market listing — 4 outlets

High-tech FDI accounted for record share of China’s inbound investment in H1 — 3 outlets

Chinese shipbuilders hold 70% of global orders, operate at full capacity — 1 outlet

China’s trade-in program drives 1.1 trillion yuan in sales — 6 outlets

Yuejiang Tech’s ChiNext IPO approved in first H-share-to-A-share listing from Greater Bay Area — 4 outlets

Shanghai issues measures to boost direct financing for tech firms — 3 outlets

China sets 2030 energy consumption target at 1.8 billion tons of standard coal — 5 outlets

Beijing unveils policies to support AI agents, promotes token economy — 4 outlets

Bank of Communications to shut precious metals agency for retail clients — 2 outlets

Chinese tech services going global: big data and AI exports surge — 1 outlet

China customs rolls out measures to cut trade costs, boost efficiency — 3 outlets

Hong Kong stocks rally: Hang Seng Index up 1.28%, Tech Index gains 0.65% — 3 outlets

Hong Kong AI stocks gain; Cambridge Technology rises nearly 6% — 3 outlets

ENN Energy chairman buys 12.78 million HKD of company shares — 1 outlet

CSRC convenes party-building symposium, no new regulatory measures disclosed — 6 outlets

Chengdu accelerates push for smart manufacturing and digital transformation — 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 24 July 2026 07:19 CST.

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