China Business Daily

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

This edition draws on 44 reports across 15 Chinese outlets.

At a Glance

  • ChangXin Technology —a Chinese DRAM maker—debuted on the A‑share market on July 27 with a first‑day surge of 465.82%, pushing its market capitalisation to 3.66 trillion yuan (exceeding Intel) and making it the largest stock on the A‑share list. finance.eastmoney.com, 2026-07-27.

  • Zhongji Innolight —a Chinese optical‑module maker—priced its Hong‑Kong IPO at HK$980 per share, a ~21% discount to its A‑share closing price; the A‑share fell over 12% on July 28. m.21jingji.com, 2026-07-28.

  • China’s H1 GDP grew 4.7% year‑on‑year to 695,704 billion yuan; 15 provinces beat the national average, with Tibet leading at 6.3%. China Daily, 2026-07-28.

Top Stories

Company

  • ChangXin Memory daily turnover exceeds 100 billion yuan, market cap tops A‑share list · covered by 4 outlets
  • Changxin Technology (长鑫科技; a Chinese DRAM manufacturer) debuted on the A‑share market on July 27, 2026. finance.eastmoney.com, 2026-07-27.
  • Its trading volume exceeded 100 billion yuan before 10 a.m. on the first day. finance.eastmoney.com, 2026-07-27.
  • By midday close, shares were at 54.65 yuan per share, up over 530%. finance.eastmoney.com, 2026-07-27.

  • The company’s total market capitalisation reached 3.66 trillion yuan, surpassing Industrial and Commercial Bank of China to become the largest A‑share company by market cap, and exceeding Intel’s previous close of 465.6 billion USD (approx. 3.15 trillion yuan). finance.eastmoney.com, 2026-07-27.

  • Zhongji Innolight H‑share priced at 980 HKD, A‑share drops over 12% on premium narrowing · covered by 5 outlets

  • Zhongji Innolight (中际旭创; a Chinese optical‑module maker) set its Hong Kong IPO offer price at HK$980 per share, approximately 21% lower than the A‑share closing price on July 27, according to the company. m.21jingji.com, 2026-07-28.
  • The A‑share fell over 12% on July 28. m.21jingji.com, 2026-07-28.
  • The IPO raised approximately 53.4 billion Hong Kong dollars from the base offering of 54.5 million H‑shares, making it the largest Hong Kong IPO since 2019, according to the company. finance.sina.com.cn, 2026-07-28.

  • 33 cornerstone investors subscribed about USD 3.45 billion, nearly half of the offering shares. finance.sina.com.cn, 2026-07-28.

  • Miao Yanliang appointed CICC chief economist, predicts A‑share bull market · covered by 5 outlets

  • Peng Wensheng retired as chief economist of CICC (中金公司; a Chinese investment bank), and Miao Yanliang (缪延亮) succeeded him. finance.eastmoney.com, 2026-07-28.

  • Miao Yanliang holds a PhD in Economics and a Master’s in Public Policy from Princeton University. finance.eastmoney.com, 2026-07-28.

  • ChangXin Memory surges 465.82% on debut, mutual funds gain over 50 billion yuan · covered by 3 outlets

  • Changxin Technology (长鑫科技) debuted on the STAR Market with a 465.82% first‑day gain, closing at 49 yuan per share, yielding a profit of 20,170 yuan per lot. finance.sina.com.cn, 2026-07-28.
  • Public funds received 1.251 billion shares through offline placement, generating a total floating profit of over 50 billion yuan. finance.sina.com.cn, 2026-07-28.

  • E Fund received the highest placement amount of about 1.461 billion yuan, with a floating profit exceeding 6.8 billion yuan. finance.sina.com.cn, 2026-07-28.

  • ChangXin Memory breaks two A‑share records on blockbuster debut · covered by 3 outlets

  • Changxin Technology (长鑫科技) opened at 49.5 yuan per share, a 471.59% increase from its issue price of 8.66 yuan. Jiemian, 2026-07-28.
  • It became the first A‑share stock to exceed 100 billion yuan in single‑day trading turnover, with over 100 billion yuan traded within the first hour. Jiemian, 2026-07-28.
  • Alibaba invested 7.6 billion yuan in Changxin Technology, and its equity value surged to over 170 billion yuan on the first trading day. m.21jingji.com, 2026-07-28.

  • NIO participated in the IPO strategic placement with 158 million yuan, resulting in a paper profit of about 740 million yuan on the first day. m.21jingji.com, 2026-07-28.

  • WeRide overseas project selected as AI conference case, faces equity transfer dispute · covered by 1 outlet

  • WeRide (文远知行; a Chinese autonomous‑driving company)’s UAE overseas project was selected as one of the top 10 cases in the ‘China Wisdom Benefits the World’ list released by the 2026 World Artificial Intelligence Conference, and is the only autonomous‑driving company selected. Economic Observer, 2026-07-29.

Macro

  • 15 Chinese provinces outpace national GDP growth, major provinces lead · covered by 2 outlets
  • 15 provinces’ GDP growth rate exceeded the national average of 4.7% in the first half of the year. China Daily, 2026-07-28.
  • Tibet’s GDP growth rate led the country at 6.3%. China Daily, 2026-07-28.

  • China’s H1 GDP was 695,704 billion yuan, up 4.7% year‑on‑year, according to the National Bureau of Statistics. China Daily, 2026-07-28.

  • Tax big data paints improving economic picture for H1 2026 · covered by 1 outlet

  • Tax reductions, fee cuts, and tax rebates for supporting scientific innovation and manufacturing development totalled 1.91 trillion yuan in the first half of the year, according to the State Taxation Administration. People’s Daily, 2026-07-29.
  • The number of active business entities handling tax matters increased 20.2% year‑on‑year. People’s Daily, 2026-07-29.

  • Industrial enterprise sales revenue grew 7.1% year‑on‑year in H1. People’s Daily, 2026-07-29.

  • Feature on Jiangxi merchants’ cultural and economic contributions · covered by 1 outlet

  • Jiangxi’s GDP exceeded 3.6 trillion yuan in 2025. People’s Daily, 2026-07-29.
  • Over 6 million Jiangxi merchants worldwide have founded more than 200,000 enterprises. People’s Daily, 2026-07-29.
  • In H1 2026, private enterprises in Jiangxi saw an 18.2% year‑on‑year increase in imports and exports, accounting for 70.3% of the provincial total. People’s Daily, 2026-07-29.

Policy

  • China to adjust urban land use tax for energy and resource companies · covered by 2 outlets
  • The Ministry of Finance and the State Taxation Administration announced an adjustment to the urban land use tax policy for some energy and resource industry enterprises, according to the two ministries. People’s Daily, 2026-07-28.
  • The preferential tax exemption for major production and operation land of enterprises in coal, mining, oil and gas, building materials, and electric power industries will be canceled. People’s Daily, 2026-07-28.

  • The policy includes a transitional phase: from September 1, 2026 to August 31, 2027, tax is levied at half the amount due; from September 1, 2027, the full amount is levied. People’s Daily, 2026-07-28.

  • China financial regulator urges faster reform and differentiated development for institutions · covered by 4 outlets

  • The National Financial Regulatory Administration (NFRA) held a meeting on July 27, 2026, urging financial institutions to accelerate reform and transformation and achieve differentiated development, according to the NFRA. m.21jingji.com, 2026-07-28.
  • The meeting emphasised steadily promoting the reform and risk resolution of small and medium financial institutions and preventing systemic financial risks. finance.sina.com.cn, 2026-07-28.

  • A previous meeting on June 5 also demanded reducing the quantity and improving the quality of small and medium financial institutions. Securities Times, 2026-07-28.

  • China promotes shift from beauty business to hardcore manufacturing as new growth driver · covered by 1 outlet

  • The crystal industry in Donghai, Jiangsu has annual sales exceeding 600 billion yuan. CCTV, 2026-07-29.
  • Crystal products are sold worldwide through cross‑border e‑commerce. CCTV, 2026-07-29.

Trade

  • Three sets of trade data point to China’s evolving opportunities · covered by 1 outlet
  • China’s import growth rate exceeded export growth rate in H1, with imports reaching 10.74 trillion yuan, up 22.1%, 8.7 percentage points higher than export growth. People’s Daily, 2026-07-29.
  • China has been the world’s second largest import market for 17 consecutive years, with its share of global imports rising from 7.9% to about 10%. People’s Daily, 2026-07-29.

  • Exports of integrated circuits increased 88.7% in H1. People’s Daily, 2026-07-29.

  • Overseas tourists using China’s departure tax refund surges 366% in H1 · covered by 2 outlets

  • The number of overseas tourists processing departure tax refunds in H1 increased 366% year‑on‑year, according to the State Taxation Administration. People’s Daily, 2026-07-28.
  • Sales of tax‑refund goods and the refund amount increased 69% year‑on‑year. People’s Daily, 2026-07-28.

Tech

  • World Intelligent Connected Vehicle Conference 2026 to be held in Beijing Oct 21‑23 · covered by 2 outlets
  • The 2026 World Intelligent Connected Vehicle Conference will be held in Beijing from October 21 to 23, jointly organised by the Ministry of Industry and Information Technology (长鑫科技), the Ministry of Transport, and the Beijing Municipal Government. People’s Daily, 2026-07-28.
  • L2‑level combined driving assistance function penetration in passenger vehicles has reached 70.5% this year, according to the Ministry of Industry and Information Technology. People’s Daily, 2026-07-28.
  • Nationwide, over 20,000 test demonstration licences have been issued, with more than 57,000 km of open test roads. People’s Daily, 2026-07-28.

Also Reported

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

Sources

44 source articles across 15 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

ChangXin Memory daily turnover hits 141.2 billion yuan, market cap tops A-share list — 4 outlets

Zhongji Innolight H-share priced at 980 HKD, A-share drops 13% on premium narrowing — 5 outlets

15 Chinese provinces outpace national GDP growth, major provinces lead — 2 outlets

China to adjust urban land use tax for energy and resource companies — 3 outlets

Miao Yanliang appointed CICC chief economist, predicts A-share bull market — 5 outlets

China financial regulator urges faster reform and differentiated development for institutions — 4 outlets

ChangXin Memory surges 465.82% on debut, mutual funds gain over 50 billion yuan — 4 outlets

ChangXin Memory breaks two A-share records on blockbuster debut — 3 outlets

WeRide overseas project selected as AI conference case, faces equity transfer dispute — 1 outlet

Tax big data paints improving economic picture for H1 2026 — 1 outlet

Three sets of trade data point to China’s evolving opportunities — 2 outlets

Overseas tourists using China’s departure tax refund surges 366% in H1 — 2 outlets

World Intelligent Connected Vehicle Conference 2026 to be held in Beijing Oct 21-23 — 2 outlets

China promotes shift from beauty business to hardcore manufacturing as new growth driver — 1 outlet

Feature on Jiangxi merchants’ cultural and economic contributions — 1 outlet

Luckin Coffee wins trademark case, clears legal hurdle for Thailand entry — 2 outlets

Evening digest of key company announcements on July 28 — 2 outlets

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 29 July 2026 07:18 CST.

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