China Business Daily

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

This edition draws on 58 reports across 15 Chinese outlets.

At a Glance

  • US imposes new tariffs of 10%–12.5% on dozens of countries and regions, effective 24 July, replacing the expiring temporary global tariff of 10%. finance.sina.com.cn, 2026-07-24.
  • China retaliates by adding 14 EU entities to its export control list, prohibiting dual-use item exports, in direct response to EU sanctions on 14 Chinese firms. Securities Times, 2026-07-24.
  • CATL announces a record buyback of up to 40 billion yuan, all shares to be cancelled, alongside a first-half net profit of 43.28 billion yuan, up 42%. m.21jingji.com, 2026-07-24.

Top Stories

Trade

  • US Imposes New Tariffs of 10-12.5% on Chinese Goods · covered by 5 outlets
  • The U.S. Trade Representative announced new tariffs of 10% to 12.5% on dozens of countries and regions under Section 301 of the Trade Act of 1974, citing forced labour. finance.sina.com.cn, 2026-07-24.
  • The new tariffs took effect at 0:01 a.m. ET on 24 July 2026, replacing the expiring 10% global tariff enacted under Section 122 after the Supreme Court rejected the largest tariff measure in February. National Business Daily, 2026-07-24.
  • Canadian Prime Minister Mark Carney said Canada will “spare no expense” to defend national interests, and President Trump signed separate orders for 50% tariffs on hundreds of specific Canadian goods. National Business Daily, 2026-07-24.

  • The previous temporary 10% global tariff measures expired at 0:01 a.m. ET on 24 July 2026. m.21jingji.com, 2026-07-24.

  • Greater Bay Area’s Nine Mainland Cities See H1 Trade Up 20.9% YoY · covered by 2 outlets

  • In the first half of 2026, the total import and export value of nine cities in the Greater Bay Area reached 5.3 trillion yuan, up 20.9% year-on-year, outpacing the national average by 4 percentage points and contributing 24.9% to national growth. finance.eastmoney.com, 2026-07-25.
  • In June alone, imports and exports grew 31.1% year-on-year, with monthly volume exceeding 1 trillion yuan for the first time, reaching 1.02 trillion yuan. finance.eastmoney.com, 2026-07-25.
  • Private enterprises accounted for 67.5% of the total trade (3.57 trillion yuan), contributing 83.1% to overall growth, and electromechanical product exports were 2.23 trillion yuan, up 16%. finance.eastmoney.com, 2026-07-25.

Geopolitics

  • China Adds 14 EU Entities to Export Control List · covered by 2 outlets
  • The Ministry of Commerce (商务部) placed 14 EU entities, including Rafat Group, on the export control list, prohibiting the export of dual-use items to them; ongoing activities must cease immediately. Securities Times, 2026-07-24.
  • The decision, announced on 24 July 2026, is a direct retaliation for EU sanctions on 14 Chinese companies and takes effect immediately under the Export Control Law and the Regulations on the Export Control of Dual-Use Items. People’s Daily, 2026-07-24.
  • The list includes Lafert S.p.A. and Rheinmetall AG, among others. www.gelonghui.com, 2026-07-24.

Policy

  • Finance Minister Vows Stronger Fiscal-Financial Coordination to Boost Domestic Demand · covered by 2 outlets
  • From January to June, new loans in four categories (SME loans, equipment renovation loans, service industry loans, personal consumption loans) totalled over 17 trillion yuan, up 4.6% year-on-year. finance.china.com.cn, 2026-07-24.
  • Two consumption stimulus policies benefited about 1.31 trillion yuan in consumer spending, reaching approximately 99 million person-times. finance.china.com.cn, 2026-07-24.

  • The central government allocated 100 billion yuan for fiscal and financial coordination policies, including 6 specific measures to boost domestic demand. m.21jingji.com, 2026-07-23.

  • Enterprise Annuity Personal Accounts to Allow Online Transfer from January 2027 · covered by 3 outlets

  • Starting 1 January 2027, workers can apply to transfer their enterprise annuity personal account online via the National Social Insurance Public Service Platform. finance.eastmoney.com, 2026-07-25.
  • If the new employer also has an enterprise annuity, the worker’s personal account under the new employer is chosen as the collection account; retirees may transfer other accounts to the one from which they are receiving payments. finance.sina.com.cn, 2026-07-24.

  • The regulation was issued by the Ministry of Human Resources and Social Security. finance.sina.com.cn, 2026-07-24.

  • PBOC to Conduct Over 2 Trillion Yuan Overnight Reverse Repo Operations · covered by 10 outlets

  • The People’s Bank of China (PBOC) announced overnight reverse repo operations on 29-31 July and 3 August, with daily amounts of 600 billion yuan for the first three days and 300 billion yuan on 3 August, totalling over 2 trillion yuan. Securities Times, 2026-07-24.
  • The operations aim to smooth month-end liquidity fluctuations, while the 7-day reverse repo rate remains the main policy rate, according to PBOC Deputy Governor Zou Lan (邹澜). Securities Times, 2026-07-24.
  • The PBOC also conducted a 500 billion yuan Medium-term Lending Facility (MLF) operation on 24 July, and when combined with 700 billion yuan in buyout reverse repos, total mid-term liquidity operations added 800 billion yuan, reversing a four-month contraction. Jiemian, 2026-07-24.

Markets

  • Multiple Tech Giants Announce Share Buybacks to Stabilize Market · covered by 6 outlets
  • The China Securities Regulatory Commission (CSRC) held a meeting on 23 July, concluding the market overall has good allocation value and deploying seven work areas, including comprehensive measures to maintain stability and promote long-term funds. finance.china.com.cn, 2026-07-24.
  • Jiang Bo Long (a Chinese memory and storage company) proposed a buyback of 400 million to 800 million yuan; Baiwei Storage (a Chinese storage company) proposed 200 million to 250 million yuan for cancellation. m.21jingji.com, 2026-07-24.
  • Luxshare Precision (a Chinese electronics manufacturer) had repurchased about 1 billion yuan in shares as of 22 July; Montage Technology (a Chinese chip company)’s chairman proposed 300 million to 600 million yuan; as of 23 July, over 800 A-share companies had repurchased more than 82 billion yuan. m.21jingji.com, 2026-07-24.

  • The CSRC meeting also stressed cracking down on financial fraud, insider trading, and market manipulation, and called for deepening two-way opening of capital markets. Securities Times, 2026-07-24.

  • Kweichow Moutai Drops Out of Top 10 Fund Holdings for First Time in Nearly a Decade · covered by 2 outlets

  • As of end of Q2 2024, the top ten heavy stocks held by mutual funds are all from AI computing, semiconductors and high-end equipment, with Zhongji Innolight (中际旭创; a Chinese optical module maker) ranking first at 260.528 billion yuan in total fund holding market value. Securities Times, 2026-07-24.
  • Fund holdings of Kweichow Moutai (贵州茅台; a Chinese baijiu maker) dropped by 47.650 billion yuan in Q2, pushing Moutai from 4th to 13th among top heavy stocks, exiting the top 10 for the first time in nearly a decade. Securities Times, 2026-07-24.

  • Active equity funds increased allocation to the information technology (; a Chinese tech firm) sector by 24.18 percentage points to 56.96% of heavyweight stock holdings in Q2 2024, while fund holdings of Wuliangye (五粮液; a Chinese baijiu maker) fell by 12.358 billion yuan. Securities Times, 2026-07-24.

  • China June Pickup Truck Sales Rise 29% YoY to 62,000 Units · covered by 1 outlet

  • Pickup truck sales in China reached 62,000 units in June 2026, a year-on-year increase of 29% and a month-on-month increase of 3%, the second-highest monthly level in nearly five years. www.gelonghui.com, 2026-07-24.
  • In the first half of 2026, cumulative pickup truck sales totalled 343,000 units, up 18% year-on-year. Securities Times, 2026-07-23.
  • Export performance in June was exceptionally strong. Jiemian, 2026-07-24.

Company

  • Two A-Share Firms Halt Trading for Control Change Plans · covered by 3 outlets
  • Xintian Technology and Puyuan Software both announced plans for controlling stake changes and will suspend trading from 27 July. Xintian’s controlling shareholder Shi Weiping is planning to transfer shares, and the company expects a net loss of 36.8 million to 50.8 million yuan in H1 2026. Securities Times, 2026-07-24.
  • Jia Yun Technology’s controlling shareholder Hainan Xinyuhang Investment is also planning a control change; its stock has been suspended from 23 July for no more than two trading days. Jiemian, 2026-07-23.

  • Puyuan Software (普联软件; a Chinese software company)’s controlling shareholders Lin Guoqiang and Wang Hu are planning a stake change that may result in a change of actual controller. Securities Times, 2026-07-24.

  • A-Share Firm Announces Record 40 Billion Yuan Buyback, All Shares to Be Canceled · covered by 2 outlets

  • CATL announced a share buyback plan with a total amount between 20 billion and 40 billion yuan, all to be cancelled – the largest buyback plan in A-share history. m.21jingji.com, 2026-07-24.

  • CATL (宁德时代; a Chinese battery maker)’s first-half 2026 revenue was 276.92 billion yuan, up 54.8% year-on-year; net profit attributable to shareholders was 43.28 billion yuan, up 42.0%. The company also proposed a dividend of 14.11 yuan per 10 shares. m.21jingji.com, 2026-07-24.

  • Xijiu Assistant General Manager Surrenders on Suspicion of Serious Violations · covered by 3 outlets

  • Xie Yuandong, Assistant General Manager and Director of the Wine Tourism Integration Development Department of Guizhou Xijiu Co., Ltd., voluntarily surrendered and is under investigation for serious disciplinary and legal violations. finance.china.com.cn, 2026-07-24.
  • Xie joined the company (then part of Moutai Group) in 2007 and was promoted to assistant general manager in June 2020; the company split from Moutai in July 2022 to form the new Xijiu Group. m.21jingji.com, 2026-07-23.

  • Xijiu’s brand value in 2025 was assessed at 3090.86 billion yuan, ranking seventh among Chinese baijiu and second among sauce-flavour baijiu. finance.china.com.cn, 2026-07-24.

  • State Grid H1 Fixed Asset Investment Exceeds 310 Billion Yuan · covered by 3 outlets

  • State Grid completed fixed asset investment of over 310 billion yuan in the first half of 2026, up 12.6% year-on-year. Economic Observer, 2026-07-24.
  • Wind and solar installed capacity in State Grid (国家电网; a Chinese state-owned power utility)’s operating area reached 1.55 billion kW by end of June; summer peak load hit a record high of 1.27 billion kW. Economic Observer, 2026-07-24.

  • Market-based electricity trading volume reached 3.48 trillion kWh in H1 2026, up 25.6%; 15 UHV projects and 37 pumped storage power stations are under accelerated construction. Securities Times, 2026-07-23.

  • Zhiyuan Innovation Files for Hong Kong IPO · covered by 3 outlets

  • Zhiyuan Innovation initiated its Hong Kong IPO process; in 2025 the company shipped over 5,100 general-purpose humanoid robots, ranking first globally with about 39% market share, according to Omdia. www.gelonghui.com, 2026-07-24.
  • According to CIC (灼识咨询), Zhiyuan Innovation (智元创新; a Chinese AI robotics company) was the world’s largest general AI robot company by revenue in 2025 and Q1 2026. finance.eastmoney.com, 2026-07-24.
  • The company’s revenue grew from 300,000 yuan in its first year to over 60 million yuan in the second year, and exceeded 1 billion yuan in 2025; it aims for over 10 billion yuan by 2027 and 100 billion yuan by 2030. finance.eastmoney.com, 2026-07-24.

Macro

  • Shenzhen H1 GDP Approaches 2 Trillion Yuan, Up 5.8% · covered by 4 outlets
  • Shenzhen’s GDP in the first half of 2026 was 1,984.348 billion yuan, a year-on-year increase of 5.8%. Secondary industry added 714.465 billion yuan (up 6.4%) and tertiary industry added 1,268.655 billion yuan (up 5.5%). Securities Times, 2026-07-24.
  • China’s automobile exports in H1 2026 reached 635.82 billion yuan, up 48.3% year-on-year, and new energy vehicle exports were 360.68 billion yuan, up 68.7%. finance.eastmoney.com, 2026-07-24.
  • Chinese automobiles were exported to over 210 countries and regions in the first half of 2026. finance.eastmoney.com, 2026-07-24.

Also Reported

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

Sources

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

US Imposes New Tariffs of 10-12.5% on Chinese Goods — 5 outlets

China Adds 14 EU Entities to Export Control List — 3 outlets

Finance Minister Vows Stronger Fiscal-Financial Coordination to Boost Domestic Demand — 3 outlets

Greater Bay Area’s Nine Mainland Cities See H1 Trade Up 20.9% YoY — 2 outlets

Multiple Tech Giants Announce Share Buybacks to Stabilize Market — 6 outlets

Kweichow Moutai Drops Out of Top 10 Fund Holdings for First Time in Nearly a Decade — 3 outlets

Enterprise Annuity Personal Accounts to Allow Online Transfer from January 2027 — 3 outlets

Two A-Share Firms Halt Trading for Control Change Plans — 3 outlets

China June Pickup Truck Sales Rise 29% YoY to 62,000 Units — 3 outlets

PBOC to Conduct Over 2 Trillion Yuan Overnight Reverse Repo Operations — 6 outlets

A-Share Firm Announces Record 40 Billion Yuan Buyback, All Shares to Be Canceled — 3 outlets

Xijiu Assistant General Manager Surrenders on Suspicion of Serious Violations — 3 outlets

Shenzhen H1 GDP Approaches 2 Trillion Yuan, Up 5.8% — 4 outlets

State Grid H1 Fixed Asset Investment Exceeds 310 Billion Yuan — 3 outlets

Zhiyuan Innovation Files for Hong Kong IPO — 3 outlets

China Stocks Tumble: ChiNext Down 1.78%, Over 4,900 Stocks Fall; Korea Circuit Breaker — 3 outlets

Beike Executive Says Real Estate Brokerage Must Redefine Value in Mature Market — 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 25 July 2026 07:20 CST.

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