China Business Daily

26 July 2026 · 07:18 CST · Daily intelligence brief

This edition draws on 41 reports across 11 Chinese outlets.

At a Glance

  • SAMR fined Ctrip Group (Trip.com Group) a record 5.179 billion yuan for monopolistic practices, ordering full refunds of 122 million yuan in forced deposits. People’s Daily, 2026-07-26.
  • CATL reported H1 2026 net profit of 43.28 billion yuan (+42% YoY) and launched a landmark A-share buyback of up to 40 billion yuan to cancel shares. National Business Daily, 2026-07-24.
  • China’s H1 2026 general public budget revenue reached 12.1 trillion yuan (+4.7% YoY), while the deficit narrowed by 342.3 billion yuan to 2.23 trillion yuan. Jiemian, 2026-07-26.

Top Stories

Macro

  • China’s H1 2026 GDP and key economic indicators show steady recovery · covered by 3 outlets
  • In the first half of 2026, China’s general public budget revenue reached 12.1 trillion yuan, up 4.7% year-on-year, completing 54.8% of the annual budget, according to the Ministry of Finance (财政部). Jiemian, 2026-07-26.
  • General public budget expenditure was 14.33 trillion yuan, up 1.5% year-on-year, completing 47.8% of the annual budget. Jiemian, 2026-07-26.
  • Securities stamp duty increased by 97.3% year-on-year in the first half. Jiemian, 2026-07-26.

  • The broader fiscal deficit (including government funds) narrowed by 679.3 billion yuan year-on-year to 4.57 trillion yuan. Jiemian, 2026-07-26.

  • China’s water conservancy investment reaches 515.1 billion yuan in H1 2026 · covered by 4 outlets

  • In the first half of the year, national water conservancy construction investment reached 515.1 billion yuan, according to the Ministry of Water Resources (水利部). finance.china.com.cn, 2026-07-25.
  • Water conservancy infrastructure construction absorbed 1.344 million jobs and paid 20.99 billion yuan in wages. finance.china.com.cn, 2026-07-25.
  • Nationwide, 33,000 water projects were implemented, with 25 new major projects started, totaling 264.6 billion yuan in investment. finance.china.com.cn, 2026-07-25.
  • A total of 258 billion yuan was secured from local government special bonds, bank loans, and social capital, up 7% year-on-year, including 10.84 billion yuan from private capital, up 85.8%. finance.china.com.cn, 2026-07-25.

Company

  • SAMR fines Ctrip for monopolistic practices, orders comprehensive rectification · covered by 2 outlets
  • SAMR imposed a total penalty of 5.179 billion yuan on Ctrip Group (携程; a Chinese online travel agency, also known as Trip.com Group) for abusing market dominance, according to the State Administration for Market Regulation (市场监管总局). People’s Daily, 2026-07-26.
  • Ctrip is ordered to refund 122 million yuan of reserved deposits forcibly deducted from hotel operators. People’s Daily, 2026-07-26.
  • Illegal gains of 1.658 billion yuan were confiscated, and Ctrip was fined 3.521 billion yuan, representing 7.5% of its 2025 sales of 46.958 billion yuan in China. People’s Daily, 2026-07-26.

  • Ctrip abused its dominant position by requiring exclusive cooperation from ‘special brand’ hotels and forcing ‘gold’ and ‘no brand’ hotels to offer the lowest prices across platforms. finance.sina.com.cn, 2026-07-25.

  • ChangXin Memory Technologies (CXMT) to list on Monday; market speculates on performance · covered by 2 outlets

  • Changxin Technology (长鑫科技; a Chinese DRAM chipmaker) will list on the STAR Market on July 27, 2026, at an issue price of 8.66 yuan per share. Securities Times, 2026-07-26.
  • The initial fundraising of about 57.9 billion yuan is the largest IPO on the STAR Market, breaking the previous record of 53.2 billion yuan by SMIC. Securities Times, 2026-07-26.
  • In the first quarter of 2026, the company achieved revenue of 50.8 billion yuan, up 719.13% year-on-year, and net profit of 33.012 billion yuan, up 1268.45%, according to the prospectus. Securities Times, 2026-07-26.

  • The price-to-earnings ratio based on the issue price is 278.03 times. Securities Times, 2026-07-26.

  • CATL posts 43.3 billion yuan H1 net profit, up 42%; launches record A-share buyback of up to 40 billion yuan · covered by 9 outlets

  • CATL (宁德时代; a Chinese battery giant) reported H1 2026 net profit attributable to shareholders of 43.284 billion yuan, up 41.98% year-on-year, and revenue of 276.917 billion yuan, up 54.80% year-on-year, according to the company. National Business Daily, 2026-07-24.
  • CATL announced a share buyback program of 20 billion to 40 billion yuan at a maximum price of 573 yuan per share; the repurchased shares will be canceled to reduce registered capital. National Business Daily, 2026-07-24.
  • This buyback plan is the largest in A-share history, exceeding Gree’s previous 15 billion yuan plan. National Business Daily, 2026-07-24.

  • Separately, Quanjude (全聚德; a Chinese restaurant chain) expects H1 2026 net profit of 12.8 million to 15.5 million yuan, up 3.39% to 25.20% year-on-year, attributed to improved cost control and store optimization. industry.caijing.com.cn, 2026-07-24.

  • Court rules against bank refusing to honor 27-year-old passbook deposit · covered by 1 outlet

  • A court in Henan ordered a bank in Minquan County to repay the principal of 17,900 yuan with interest at the current demand deposit rate from August 24, 2004, after the bank refused to honor a 27-year-old deposit, according to the People’s Court of Minquan County. m.21jingji.com, 2026-07-25.

  • The appeal court upheld the ruling, stating that system data migration and incomplete retention are operational risks that should not be borne by the depositor, according to the Shangqiu Intermediate People’s Court. m.21jingji.com, 2026-07-25.

  • Rockwell Automation to attend China International Import Expo for sixth consecutive year; stock edges up · covered by 1 outlet

  • Rockwell Automation announced its sixth consecutive participation in the China International Import Expo, focusing on industrial AI and sustainable development, according to the company. Economic Observer, 2026-07-26.
  • Its core approach is “AIOT” (deep integration of AI with IT/OT) to empower the full value chain. Economic Observer, 2026-07-26.

Markets

  • Major shareholders of multiple listed firms pledge not to reduce holdings to stabilize confidence · covered by 2 outlets
  • Jieneng Environment’s (节能环境) controlling shareholder, China Environmental Protection, voluntarily extended the lock-up period for 6 months (July 20, 2026 to January 19, 2027). finance.china.com.cn, 2026-07-25.
  • SAIC Group (上汽集团; a Chinese automaker) issued a 6-month non-reduction commitment for both Dongli Xinke and Huayu Automotive (华域汽车); SAIC holds 58.32% of Huayu’s shares and 38.86% of Dongli Xinke. finance.china.com.cn, 2026-07-25.

  • Over 20 listed company major shareholders announced early termination of share reduction plans in July. finance.china.com.cn, 2026-07-25.

  • First batch of eight BSE three-month holding period theme funds filed · covered by 1 outlet

  • The first batch of three-month holding period thematic funds for the Beijing Stock Exchange (BSE) has determined 8 fund managers, including China Asset Management and E Fund; fund managers will submit registration materials to CSRC starting July 24, according to the BSE (北交所). Securities Times, 2026-07-26.
  • In November 2021, the first batch of 8 BSE thematic funds (two-year fixed-term) sold out in half a day, with total fundraising of 4 billion yuan. Securities Times, 2026-07-26.

Policy

  • China allows online transfer of enterprise annuity personal accounts · covered by 6 outlets
  • The Ministry of Human Resources and Social Security (人力资源社会保障部) has issued the “Interim Procedures for Transfer and Continuation of Enterprise Annuity Personal Accounts,” effective January 1, 2027. People’s Daily, 2026-07-25.
  • Employees can apply for transfer through national unified online service channels such as the National Social Insurance Public Service Platform. People’s Daily, 2026-07-25.

  • Personal contributions, vested employer contributions, transferred occupational annuity, and corresponding investment earnings can all be transferred with the account, according to Xinhua. m.21jingji.com, 2026-07-25.

  • China launches campaign to improve overseas antitrust compliance for enterprises · covered by 2 outlets

  • The State Administration for Market Regulation (国家市场监督管理总局) issued a notice to deploy a special action to enhance enterprises’ overseas antitrust compliance capabilities, focusing on key scenarios such as overseas investment, cross-border M&A, and product exports. People’s Daily, 2026-07-25.
  • The action aims to achieve comprehensive coverage of overseas antitrust system publicity and significant improvement in enterprise compliance capabilities within about one year. People’s Daily, 2026-07-25.

  • One task is to revise the “Guidelines for Overseas Antitrust Compliance of Enterprises” and add model cases. finance.china.com.cn, 2026-07-24.

  • China’s ‘six networks’ to modernize industrial system: policy interpretation · covered by 1 outlet

  • The “six networks” — water network, new power grid, computing power network, new generation communication network, urban underground pipeline network, and logistics network — are being deployed to modernize the industrial system. People’s Daily, 2026-07-26.
  • Weichai Lovol’s (a Chinese agricultural machinery manufacturer) ‘super factory’ in Shandong produces a high-end intelligent tractor every 4 minutes using 5G-A network and AI inspection. People’s Daily, 2026-07-26.

Energy

  • New energy heavy truck sales surge 78.6% year-on-year in H1 2026 · covered by 1 outlet
  • In the first half of 2026, China sold about 140,000 new energy heavy trucks, up 78.6% year-on-year, according to the Ministry of Transport. People’s Daily, 2026-07-26.
  • 220 billion yuan in ultra-long-term special treasury bonds will be allocated to support the replacement of old heavy trucks, prioritizing new energy ones. People’s Daily, 2026-07-26.
  • China plans to build 30,000 km of zero-carbon road transport corridors along key expressway sections, including over 3,000 electric heavy truck charging and swapping stations. People’s Daily, 2026-07-26.

Also Reported

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

Sources

41 source articles across 11 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

China’s H1 2026 GDP and key economic indicators show steady recovery — 3 outlets

SAMR fines Ctrip for monopolistic practices, orders comprehensive rectification — 2 outlets

Major shareholders of multiple listed firms pledge not to reduce holdings to stabilize confidence — 4 outlets

China allows online transfer of enterprise annuity personal accounts — 6 outlets

ChangXin Memory Technologies (CXMT) to list on Monday; market speculates on performance — 2 outlets

China launches campaign to improve overseas antitrust compliance for enterprises — 2 outlets

New energy heavy truck sales surge 78.6% year-on-year in H1 2026 — 1 outlet

CATL posts 43.3 billion yuan H1 net profit, up 42%; launches record A-share buyback of up to 40 billion yuan — 6 outlets

First batch of eight BSE three-month holding period theme funds filed — 2 outlets

China’s water conservancy investment reaches 515.1 billion yuan in H1 2026 — 4 outlets

Court rules against bank refusing to honor 27-year-old passbook deposit — 2 outlets

Rockwell Automation to attend China International Import Expo for sixth consecutive year; stock edges up — 1 outlet

China’s ‘six networks’ to modernize industrial system: policy interpretation — 1 outlet

Major shareholder with 3.41% stake battles board at stock 300221 in governance dispute — 2 outlets

Institutional survey reveals shift in broker buzzwords: hard tech investment gains attention — 2 outlets

China’s car rental policy expands scenarios for consumers — 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 26 July 2026 07:18 CST.

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