China Business Daily

22 July 2026 · 07:20 CST · Daily intelligence brief

This edition draws on 60 reports across 19 Chinese outlets.

At a Glance

  • China’s half-year industrial output rose 5.4%, contributing over 35% to economic growth, with profits of industrial enterprises above designated size jumping 18.8% in the first five months. National Business Daily, 2026-07-20.
  • The People’s Bank of China (PBOC) added 100 billion yuan in new relending quotas for agriculture and small firms, targeting flood relief and post-disaster reconstruction in Guangxi, Hubei, Gansu, and Zhejiang. People’s Daily, 2026-07-22.
  • A-shares staged a sharp rebound: the ChiNext index surged 7.05%, the STAR 50 Index rose 10.73%, and total turnover exceeded 2.9 trillion yuan. Securities Times, 2026-07-21.

Top Stories

Macro

  • China’s industrial output rises 5.4% in H1, contributes over 35% to economic growth · covered by 4 outlets
  • In the first half of 2026, the added value of industrial enterprises above designated size increased 5.4% year-on-year, with equipment manufacturing and high-tech manufacturing growing 9.3% and 13.3% respectively, according to the Ministry of Industry and Information Technology (MIIT). Securities Times, 2026-07-21.
  • Profits of industrial enterprises above designated size rose 18.8% year-on-year in the first five months, while goods trade exports in RMB terms grew 13.4% in the first half, according to MIIT Chief Engineer Wang Weiming. finance.china.com.cn, 2026-07-21.
  • The application adoption rate of AI technology in manufacturing enterprises above designated size exceeded 30%, and China’s intelligent computing power reached 2,185 EFLOPS (FP16) as of end-June, with overall rack utilization of computing facilities at 71.4%, said MIIT spokesperson Xie Cun. National Business Daily, 2026-07-20.

  • China achieved a historic breakthrough in reusable rocket technology with successful controlled recovery of the Long March 10B carrier rocket’s first stage, and became the world’s first country to reach 100-ton annual production of T1200-grade ultra-high strength carbon fiber, according to MIIT. finance.china.com.cn, 2026-07-21.

  • Multiple Chinese banks raise USD deposit rates · covered by 3 outlets

  • Hang Seng Bank (恒生银行; a Hong Kong-based bank) is offering a one-month USD time deposit annualized interest rate of 4% under a limited-time promotion from July 1 to 31. m.21jingji.com, 2026-07-22.
  • Bank of East Asia (东亚银行; a Hong Kong-based bank) offers new customers USD time deposit rates: for deposits of $10,000–$50,000, 3.4% for 3-month, 3.35% for 6-month, and 3.2% for 1-year; for deposits over $50,000, up to 3.55% for 6-month. finance.caijing.com.cn, 2026-07-21.
  • Capital Bank of China (首都银行（中国）; a Chinese commercial bank) raised its three-month, six-month, and one-year USD time deposit rates to 3.60%, 3.62%, and 3.62% respectively. m.21jingji.com, 2026-07-22.
  • Lou Feipeng (娄飞鹏), a researcher at Postal Savings Bank of China, warned that the renminbi has appreciated over 3% against the US dollar this year, potentially offsetting USD deposit interest when converted back, while Zeng Gang, deputy director of the National Finance and Development Lab, said banks are raising rates to ease their own USD liquidity pressure. m.21jingji.com, 2026-07-22.

Policy

  • PBOC adds new relending quotas for agriculture and small firms · covered by 3 outlets
  • The People’s Bank of China (中国人民银行; China’s central bank) added 100 billion yuan in relending quotas to support flood relief and post-disaster reconstruction, targeting disaster-affected regions including Guangxi, Hubei, Gansu, and Zhejiang, according to the PBOC. People’s Daily, 2026-07-22.
  • The funds are directed to small and micro businesses, individual businesses, agricultural enterprises, and farmers, with financial institutions guided to increase credit support, according to the PBOC. finance.china.com.cn, 2026-07-21.

  • The PBOC will supervise relevant provincial branches to ensure the effective use of the added relending quotas, according to the central bank. m.21jingji.com, 2026-07-21.

  • China to implement national safety standard for new energy vehicle maintenance · covered by 2 outlets

  • The national standard ‘Safety Requirements for New Energy Vehicle Repair Work’ (GB/T 47439—2026) will be implemented on August 1, 2026, published by the State Administration for Market Regulation on July 20, 2026, according to the administration. auto.hexun.com, 2026-07-21.
  • As of June 2025, China’s new energy vehicle (NEV) ownership reached 48.97 million, accounting for 13.19% of total vehicles, according to the Traffic Management Bureau of the Ministry of Public Security. Xinhua, 2026-07-21.

  • Out of nearly 400,000 auto repair enterprises in China, only about 20,000 serve NEVs, and fewer than 100,000 technicians work on NEV maintenance, with a talent gap of over 800,000, according to the China Auto Repair Industry Association. Xinhua, 2026-07-21.

  • NDRC meets private firms, pushes for supporting laws for private economy · covered by 3 outlets

  • Zheng Shanjie (郑栅洁), director of the National Development and Reform Commission (国家发展改革委; China’s top economic planner), held a private enterprise symposium on July 20 attended by five companies: Sanquan Food (三全食品), Huaxing Yuancheng (华兴源创), Yidian Tianxia, Galaxy General Robotics (银河通用机器人), and Feishang Technology (飞尚科技), according to the NDRC. finance.china.com.cn, 2026-07-21.
  • The NDRC will accelerate the cultivation of new consumption growth points and continuously promote the implementation of major projects of the 15th Five-Year Plan, according to the commission. finance.china.com.cn, 2026-07-21.

  • The NDRC will implement the ‘Legal Protection for Private Economy’ action and push forward the construction of supporting systems for the private economy promotion law, according to the commission. finance.china.com.cn, 2026-07-21.

  • NDRC vows to accelerate cultivation of new consumption growth points · covered by 3 outlets

  • National Development and Reform Commission Director Zheng Shanjie (郑栅洁) chaired a symposium with five private enterprises on July 20, according to the NDRC. People’s Daily, 2026-07-21.
  • The participating enterprises generally believe that the Chinese economy has withstood pressure and made steady progress, with improving market expectations, according to the attendees. People’s Daily, 2026-07-21.

  • Zheng Shanjie stated that the government will accelerate the cultivation of new consumption growth points, promote major projects of the 15th Five-Year Plan, and implement the ‘Rule of Law Escorts Private Economy’ action to promote supporting regulations for the Private Economy Promotion Law, according to the NDRC. www.gelonghui.com, 2026-07-21.

  • China’s 2026 child-rearing subsidies issued to over 25 million people · covered by 3 outlets

  • As of July 21, 2026, 27.51 million applications for the 2026 childcare subsidy have been submitted, 27.13 million approved, and 25.16 million people have received the subsidy, according to the National Health Commission. finance.china.com.cn, 2026-07-21.
  • The deadline for first-time childcare subsidy applications for children born in 2022–2024 has been extended to December 31, 2026, according to the National Health Commission and Ministry of Finance. National Business Daily, 2026-07-21.
  • In 2026, China plans to add 150,000 new inclusive childcare slots nationwide, with 1,000 township health centers newly providing diagnosis and treatment services for common childhood diseases, according to the National Health Commission. finance.china.com.cn, 2026-07-21.

Markets

  • CNY closes at 6.7665 in night session, up 25 pips · covered by 2 outlets
  • The onshore yuan (CNY) closed at 6.7665 against the U.S. dollar in night trading on July 22, up 25 points from the previous trading day. Economic Observer, 2026-07-22.

  • According to Eastmoney Choice data, the onshore yuan closed at 6.7690 on July 21, up 62 pips from the Friday night close, with trading volume of 339.96 billion USD. finance.eastmoney.com, 2026-07-21.

  • ChiNext jumps 7.05%; semiconductor and chip stocks lead rally · covered by 3 outlets

  • The ChiNext index rose 7.05%, the Shanghai Composite Index rose 1.79%, the Shenzhen Component Index rose 4.81%, and the STAR 50 Index rose 10.73%, according to People’s Finance. Securities Times, 2026-07-21.
  • Total market turnover exceeded 2.9 trillion yuan, with over 3,100 stocks rising and 121 hitting the daily upward limit, according to Jiemian. Jiemian, 2026-07-21.

  • Sectors such as semiconductors, CPO, electronic chemicals, and precious metals led the gains, while oil, leisure food, and banks led the declines. Jiemian, 2026-07-21.

  • Optical chip stock jumps on forecast of up to 13x net profit increase · covered by 4 outlets

  • Yuanjie Technology (源杰科技; a Chinese optical chip maker) expects net profit attributable to parent in H1 2026 of 600–650 million yuan, a year-on-year increase of 1196.91%–1304.98%, and operating revenue of 900–950 million yuan, up 339.13%–363.53%, according to the company. finance.eastmoney.com, 2026-07-21.
  • The growth is driven by data center business revenue growth, declining expense ratio, and fair value changes from private equity investments, according to Yuanjie Technology. www.gelonghui.com, 2026-07-21.
  • Since June 2025, Yuanjie’s stock price has risen more than 20 times to a closing price of 1,510 yuan per share on July 21, with a market capitalization of 188 billion yuan. finance.eastmoney.com, 2026-07-21.

  • CICC forecasts 2026 net profit of 1.043 billion yuan with a target price of 1,654 yuan; Capital Securities forecasts 798 million yuan with a target of 1,500 yuan, according to CICC and Capital Securities. www.gelonghui.com, 2026-07-21.

  • Chinese companies announce buybacks; insurers pledge patient capital · covered by 3 outlets

  • The controlling shareholder of Chinalco (a state-owned aluminum producer) plans to increase its stake in A-shares and H-shares by 1–2 billion yuan, and the controlling shareholder of CRRC (中国中车; state-owned rolling stock manufacturer) plans to increase its A-share stake by 150–300 million yuan, according to the respective companies. finance.china.com.cn, 2026-07-21.
  • Dongshan Precision (东山精密; a Chinese electronics components maker) plans to repurchase shares worth 200–300 million yuan, Sanhua Intelligent Controls (三花智控; a Chinese HVAC controls maker) plans 200–400 million yuan, and Huayou Cobalt (华友钴业; a Chinese battery materials producer) plans 600 million–1 billion yuan, according to the companies. Securities Times, 2026-07-21.

  • China Pacific Insurance (中国太保; a Chinese insurer) announced it will continue to invest in high-quality equity sectors such as technology, consumption, and new energy, while New China Life Insurance (a Chinese insurer) said it will increase equity investment intensity focusing on technology innovation and new quality productive forces, according to the insurers. Securities Times, 2026-07-21.

  • State capital signals to stabilize A-shares; brokerages assess market outlook · covered by 2 outlets

  • China Guoxin (a state-owned capital investment company) announced it used over 50 billion yuan for share buybacks, and China Chengtong (中国诚通; a state-owned capital operation company) accumulated nearly 10 billion yuan in Chinese stocks, according to the two firms. National Business Daily, 2026-07-20.
  • Last week, the ChiNext index fell 10.78%, the largest single-week drop in 10 years (excluding the last week of February 2021), and since July the Electronics sector index fell 31% and the Communications sector index fell 23.8%, according to the National Business Daily. National Business Daily, 2026-07-20.
  • As of July 17, the A-share market PE was 21.8 times and the risk premium was 2.85%, while the net subscription scale of broad-based index ETFs exceeded 200 billion yuan since July, according to the National Business Daily. National Business Daily, 2026-07-20.

Tech

  • China’s unicorn count hits 376, a ten-year high · covered by 3 outlets
  • In 2025, China had 376 unicorn companies with a total valuation exceeding 1.4 trillion USD, according to the Great Wall Strategy Consultants’ GEI China Unicorn Enterprise Report 2026. pe.hexun.com, 2026-07-21.
  • 320 unicorns are in frontier technology sectors, accounting for 85.1%, with the semiconductor sector leading at 62 unicorns. Securities Times, 2026-07-21.
  • 88 new unicorns were added in 2025 (up from 53 in the prior year), 132 raised new financing with total funding of approximately 213.8 billion USD, and per unicorn the average number of valid patents was 276, up 78.2% year-on-year, according to the report. pe.hexun.com, 2026-07-21.

Company

  • Changxin Technology IPO sees significant subscription abandonment · covered by 3 outlets
  • Changxin Technology (长鑫科技; a Chinese semiconductor memory manufacturer) priced its IPO at 8.66 yuan per share on the STAR Market, with the initial number of shares issued at 6,688,088,608 shares, according to the company. Securities Times, 2026-07-21.
  • Online investors abandoned subscription of 6,586,227 shares, and the joint lead underwriters underwrote 6,617,794 shares with an amount of 57.31 million yuan, according to the company. m.21jingji.com, 2026-07-20.

  • The final online issuance winning rate was approximately 0.47141739%, and issuance expenses before exercising the over-allotment option were 281 million yuan, according to Changxin Technology. finance.eastmoney.com, 2026-07-21.

  • Aili Home plans to acquire over 77% of Oukangnuo · covered by 2 outlets

  • Aili Home Furnishing (爱丽家居; a Chinese home furnishing company) plans to acquire no less than 77.08% equity of Oukangnuo (欧康诺; a Chinese storage test equipment and services company) in cash, with the total valuation of Oukangnuo’s 100% equity not exceeding 650 million yuan, according to Aili Home’s announcement. estate.caijing.com.cn, 2026-07-21.
  • The acquisition proposal has been reviewed and approved by the independent directors’ special meeting and obtained unanimous consent from all independent directors, according to the company. estate.caijing.com.cn, 2026-07-21.

  • The transaction constitutes a related-party transaction and is expected not to constitute a major asset restructuring, according to Aili Home. finance.eastmoney.com, 2026-07-21.

  • Multiple companies report strong H1 profit growth · covered by 4 outlets

  • RuiKe Laser (锐科激光; a Chinese laser manufacturer) reported net profit for H1 2026 of 117% year-on-year increase, with operating revenue of 1.91 billion yuan up 14.75%, and Q2 net profit of 117 million yuan up 178% quarter-on-quarter, according to the company. www.gelonghui.com, 2026-07-20.
  • Yuanjie Technology (源杰科技) expects H1 2026 net profit of 600–650 million yuan, up 1197%–1305% year-on-year, driven by data center business revenue growth, according to the company. finance.eastmoney.com, 2026-07-21.

  • Jihua Group (吉华集团; a Chinese dye and chemical company) reported H1 2026 operating revenue of 798 million yuan up 12.50%, and net profit attributable to shareholders of 47.44 million yuan up 1272.52% year-on-year, with basic earnings per share of 0.07 yuan, according to the company. Jiemian, 2026-07-20.

  • Tencent Music to report Q2 results amid copyright cleanup · covered by 1 outlet

  • Tencent Music (腾讯音乐; a Chinese music streaming platform) will announce its second-quarter 2026 financial results on August 11, 2026, after its first-quarter profit declined 49% year-on-year, and it must terminate all existing exclusive copyright contracts within a deadline according to new regulations, according to Tencent Music. Economic Observer, 2026-07-22.

  • China Life sells GigaDevice shares worth 682 million yuan · covered by 2 outlets

  • China Life Insurance (中国人寿; a Chinese state-owned insurer) sold 1.1097 million shares of GigaDevice (兆易创新; a Chinese semiconductor company) on July 8 with a transaction amount of 682 million yuan, involving 8 fund portfolios (7 with Fullgoal Fund and 1 with China Asset Management), according to China Life. finance.sina.com.cn, 2026-07-21.
  • The transaction is a related-party transaction because China Life’s independent director Chen Jie is also an independent director of GigaDevice, according to China Life. finance.eastmoney.com, 2026-07-21.
  • As of July 20, GigaDevice’s closing price was 432.30 yuan per share, down 6.66% and nearly 30% below China Life’s average selling price, after hitting a high of 846.66 yuan on June 29, according to China Life. finance.sina.com.cn, 2026-07-21.

Also Reported

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

Sources

60 source articles across 19 Chinese outlets. Each story below lists the outlets that corroborate it; click any source to read the original.

China’s industrial output rises 5.4% in H1, contributes over 35% to economic growth — 4 outlets

PBOC adds new relending quotas for agriculture and small firms — 5 outlets

Multiple Chinese banks raise USD deposit rates — 3 outlets

CNY closes at 6.7665 in night session, up 25 pips — 2 outlets

China to implement national safety standard for new energy vehicle maintenance — 2 outlets

China’s unicorn count hits 376, a ten-year high — 3 outlets

ChiNext jumps 7.05%; semiconductor and chip stocks lead rally — 3 outlets

Changxin Technology IPO sees significant subscription abandonment — 4 outlets

NDRC meets private firms, pushes for supporting laws for private economy — 4 outlets

Optical chip stock jumps on forecast of up to 13x net profit increase — 4 outlets

NDRC vows to accelerate cultivation of new consumption growth points — 3 outlets

China’s 2026 child-rearing subsidies issued to over 25 million people — 3 outlets

Chinese companies announce buybacks; insurers pledge patient capital — 3 outlets

State capital signals to stabilize A-shares; brokerages assess market outlook — 3 outlets

Aili Home plans to acquire over 77% of Oukangnuo — 3 outlets

Huangshanghuang expects H1 net profit up 10.5% — 4 outlets

Tencent Music to report Q2 results amid copyright cleanup — 1 outlet

China Life sells GigaDevice shares worth 682 million yuan — 3 outlets

GF Securities raises margin trading scale cap, first bank to do so in 2026 — 3 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 22 July 2026 07:20 CST.

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