Bull Market Morning Post: China Securities Regulatory Commission Chairman Wu Qing: Resolutely maintain the stable and healthy operation of the capital market
[Market Data] At the close of trading on July 22, the Shanghai Composite Index rose 0.07% to 3867.03 points; the Shenzhen Component Index fell 1.42% to 14061.44 points; the GEM Index fell 3.23% to 3566.73 points. The three major stock indexes in the New York stock market fell on the 22nd. As of the close, the Dow Jones Industrial Average closed at 52218.58 points, a decrease of 0.01%; the S&P 500 Stock Index closed at 7498.96 points, a decrease of 0.14%; the Nasdaq Composite Index closed at 25690.90 points, a decrease of 0.57%.
At the close of trading on July 22, the Shanghai Composite Index rose 0.07% to 3867.03 points; the Shenzhen Component Index fell 1.42% to 14061.44 points; the GEM Index fell 3.23% to 3566.73 points. The three major stock indexes in the New York stock market fell on the 22nd. As of the close, the Dow Jones Industrial Average closed at 52218.58 points, a decrease of 0.01%; the S&P 500 Stock Index closed at 7498.96 points, a decrease of 0.14%; the Nasdaq Composite Index closed at 25690.90 points, a decrease of 0.57%. As of the close on the 22nd, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose by US$2.49 to close at US$86.83 per barrel, an increase of 2.95%; the price of London Brent crude oil futures for September delivery rose by US$3.06 to close at US$94.07 per barrel, an increase of 3.36%. 1. According to the official website of the China Securities Regulatory Commission, on July 21, Wu Qing, Chairman of the China Securities Regulatory Commission, met with John Graham, President and CEO of the Canadian Pension Fund Investment Company, in Beijing. Wu Qing said that under the complex and ever-changing international situation, China's economy was generally stable in the first half of this year, maintaining a trend of new and excellent development, and demonstrating resilience and vitality. The China Securities Regulatory Commission will persist in pursuing progress while maintaining stability, resolutely maintain the stable and healthy operation of the capital market, steadily expand high-level institutional opening up, and continue to improve the convenience of foreign investment in the capital market. International institutional investors, including Canadian Pension Fund Investment Corporation, are welcome to expand investment in China and share the dividends of China's economic and capital market reform and development. Graham said that as a long-term investment institution with global layout, Canadian Pension Fund Investment Company pays close attention to and continues to be optimistic about the results of China's economic reform and development. It has long regarded China as one of its important global investment areas. In the future, it will continue to practice the concept of value investment and actively invest in China. 2. According to the Ministry of Finance, in the first half of the year, the national general public budget revenue was 12.1047 billion yuan, a year-on-year increase of 4.7%. Among them, national tax revenue was 9,786.5 billion yuan, a year-on-year increase of 5.3%; non-tax revenue was 2,318.2 billion yuan, a year-on-year increase of 2.3%. Stamp tax amounted to 275.2 billion yuan, a year-on-year increase of 40.9%. Among them, stamp taxes on securities transactions were 154.9 billion yuan, a year-on-year increase of 97.3%. 3. According to the "Beijing State Management" WeChat official account, Beijing State-owned Capital Operations Management Co., Ltd. is firmly optimistic about the development prospects of China's capital market, firmly supports technological innovation and high-quality development of enterprises, holds long-term equity holdings in listed companies, actively empowers listed companies to increase their value, and continues to help listed companies achieve high-quality development. Up to now, Beijing State Management has coordinated its own funds and invested a total of nearly 10 billion yuan in the stock market. In the next step, Beijing State-owned Assets Supervision and Administration Commission will rely on its own funds and its securities companies and public funds to continue to increase its holdings of listed company stocks, support the construction of the Beijing Stock Exchange, based on the functional positioning of state-owned capital operating companies, resolutely safeguard the strategic value of the core assets of listed companies, and use practical actions to contribute to the stable and healthy development of the capital market. 4. According to Xinhua News Agency, from January to June this year, the production and operation of central enterprises have stabilized and improved, and the operation situation has been stable and positive, achieving a total profit of 1.4 trillion yuan, and fixed asset investment increased by 4.5% year-on-year. This is the latest situation disclosed by the State-owned Assets Supervision and Administration Commission of the State Council at a seminar for central enterprise leaders held from July 21 to 22. Cheng Fubo, director of the State-owned Assets Supervision and Administration Commission of the State Council, said that in the first half of the year, central enterprises actively responded to various challenges and uncertainties and achieved sustainable development. 5. According to Xinhua News Agency, reporters learned from the Ministry of Commerce on the 22nd that in the first half of 2026, the trade-in of consumer goods has driven the sales of related goods to a total of 1.1 trillion yuan, benefiting 150 million people. Among them, 3.707 million cars were traded in for new ones; 63.266 million home appliances were traded in for new ones; 79.098 million new digital and smart products were purchased; 19 localities implemented independent category subsidy policies, driving the sales of 992,000 related products.
6. According to the official website of the Ministry of Commerce, on July 20, the European Commission announced that it would impose a fine of 550 million euros on AliExpress in accordance with the EU’s Digital Services Act. What is China’s comment on this? The relevant person in charge of the Ministry of Commerce pointed out that China has taken note of the relevant situation and expresses strong dissatisfaction and serious concern about it. China firmly opposes the European side's erecting digital barriers on the grounds of platform supervision and taking discriminatory measures to restrict and suppress the normal operation of Chinese e-commerce companies in Europe. China urges the EU to stop abusing its discretion by taking advantage of the ambiguity of legal provisions and treat Chinese companies fairly and equitably. China will firmly support Chinese companies in using legal weapons to safeguard their rights, and will take effective measures to firmly safeguard corporate interests. 7. According to The Paper, on July 22, the Joint Procurement Office of State-Organized Drugs issued the “Announcement on the 12th Batch of Nationally-Organized Drugs Concentrated and Volume-Purchased (No. 2).” The announcement shows that companies that have registered and passed the review will start receiving quotation materials at 7:30 a.m. on July 31 (Friday) in Fengxian District, Shanghai. This centralized drug procurement involves a total of 65 varieties, and the procurement cycle starts from the date when the selection results are implemented to December 31, 2029. 8. According to The Paper, China Everbright Bank recently responded to "accused of hiding nearly 20 billion bad debts" on the Shanghai Stock Exchange e-interactive platform, saying that the bank's operating fundamentals are stable and there are no major risk events that should be disclosed but have not been. 10. According to CCTV News, on July 22, local time, the European Union issued a statement stating that it would conditionally approve Paramount’s acquisition of Warner Bros. The European Commission said it has approved Paramount Skydance's proposed acquisition of Warner Bros. Discovery in accordance with the EU Merger Regulation. The approval is conditional on Paramount fully fulfilling its commitments. The European Commission investigated the impact of the deal on national and European Economic Area (EEA) markets, saying there were still enough film studios in the EEA to compete at the film production level.
6. According to the official website of the Ministry of Commerce, on July 20, the European Commission announced that it would impose a fine of 550 million euros on AliExpress in accordance with the EU’s Digital Services Act. What is China’s comment on this? The relevant person in charge of the Ministry of Commerce pointed out that China has taken note of the relevant situation and expresses strong dissatisfaction and serious concern about it. China firmly opposes the European side's erecting digital barriers on the grounds of platform supervision and taking discriminatory measures to restrict and suppress the normal operation of Chinese e-commerce companies in Europe. China urges the EU to stop abusing its discretion by taking advantage of the ambiguity of legal provisions and treat Chinese companies fairly and equitably. China will firmly support Chinese companies in using legal weapons to safeguard their rights, and will take effective measures to firmly safeguard corporate interests. 7. According to The Paper, on July 22, the Joint Procurement Office of State-Organized Drugs issued the “Announcement on the 12th Batch of Nationally-Organized Drugs Concentrated and Volume-Purchased (No. 2).” The announcement shows that companies that have registered and passed the review will start receiving quotation materials at 7:30 a.m. on July 31 (Friday) in Fengxian District, Shanghai. This centralized drug procurement involves a total of 65 varieties, and the procurement cycle starts from the date when the selection results are implemented to December 31, 2029. 8. According to The Paper, China Everbright Bank recently responded to "accused of hiding nearly 20 billion bad debts" on the Shanghai Stock Exchange e-interactive platform, saying that the bank's operating fundamentals are stable and there are no major risk events that should be disclosed but have not been. 10. According to CCTV News, on July 22, local time, the European Union issued a statement stating that it would conditionally approve Paramount’s acquisition of Warner Bros. The European Commission said it has approved Paramount Skydance's proposed acquisition of Warner Bros. Discovery in accordance with the EU Merger Regulation. The approval is conditional on Paramount fully fulfilling its commitments. The European Commission investigated the impact of the deal on national and European Economic Area (EEA) markets, saying there were still enough film studios in the EEA to compete at the film production level.