On August 28, the four major state-owned banks—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, and China Construction Bank—announced plans to issue TLAC non-capital bonds totaling 160 billion yuan. These bonds aim to enhance the banks' total loss absorption capacity (TLAC). The issuance is part of a larger approved plan of 310 billion yuan.

Hong Kong stocks have accelerated their liquidation due to stricter supervision, with 32 companies delisted this year. Insurance capital is increasingly flowing into the equity investment market, aiming to optimize asset allocation and support the real economy. The central bank continues to implement large-scale reverse repo and MLF operations to maintain liquidity, with expectations of further interest rate and RRR cuts.

Bond funds in China have paid dividends totaling over 110 billion yuan this year, with bond funds accounting for more than 80% of the total. Meanwhile, Macao recorded its highest single-day tourist count of 166,500 during the summer vacation, marking a 7.5% increase from the same period in 2019.

Cruise voyages in August exceeded 30, with new routes being launched. The Sino-US Circular Economy Expert Dialogue kicked off in Beijing, emphasizing climate action. Several central enterprise index ETFs will issue linkage funds, with fund companies purchasing at least 10 million each.

The 3rd Global Digital Trade Expo will open on September 25 in Hangzhou, focusing on digital trade and innovation. Meanwhile, the number of people entering and exiting the Guangzhou Border Inspection Station has surpassed last year's total, indicating strong economic activity and international engagement.

China deepens market-oriented interest rate reforms to improve financial institutions' pricing capabilities. Sino-Ocean Group aims to avoid liquidation through the 'United Kingdom Restructuring Plan,' potentially becoming the first real estate company to do so. The National Food and Material Reserve Work Promotion Conference was held in Beijing, emphasizing high-quality development and security. The European Commission proposes countervailing duties on Chinese electric vehicles, drawing opposition from the Chinese Chamber of Commerce in the EU. New breakthroughs in liquid air energy storage equipment in China highlight local innovation.

This week, four new indices, including the STAR 200 Index, will be released, enhancing the index system of the STAR Market. Meanwhile, the State Grid is accelerating the preliminary planning of the '15th Five-Year Plan' power grid and the construction of intelligent grid infrastructure.

US monetary market funds reached a record high of $6.22 trillion, driven by investor flight to quality assets. Strong retail sales data led to a positive opening for US stocks, with the Dow, S&P 500, and Nasdaq all gaining. Meanwhile, concerns over employment are growing, and the Fed is expected to focus on the labor market.

China's new home sales in 50 cities have shown a narrowing year-on-year decline for five consecutive months, indicating market stabilization. Meanwhile, the US Producer Price Index (PPI) rose less than expected in July, highlighting easing inflationary pressures.

The MSCI China Flagship Index includes Huaneng Hydropower while excluding 60 stocks. Gold prices hit a near-record high, driven by safe-haven demand. OPEC+ output exceeded targets in July, with Russia and other countries surpassing their quotas.

The bond market continues to release strong regulatory signals, leading to a decline in bond prices and rising yields. Many car companies have reduced preferential margins and production to stabilize the price system. The Chinese government is accelerating the coordination of digital and green transformation and strengthening the clean and efficient utilization of fossil energy.

In July 2024, new energy vehicle sales in China surpassed those of conventional fuel vehicles for the first time, marking a significant shift in the automotive market. Meanwhile, the probability of a 50 basis point rate cut by the Federal Reserve in September reached 56.5%, reflecting growing economic uncertainties.

China's economy is at a critical juncture for integrating ESG concepts, according to KPMG. Meanwhile, Taobao confirms a real rocket launch event for 88VIP members, and JPMorgan raises the probability of a U.S. recession to 35% by year-end.

China's domestic consumption is being boosted through coordinated supply and demand efforts, increased consumer credit support, and the issuance of consumption vouchers. Meanwhile, international crude prices and the exchange rate of RMB to USD show fluctuations. The Bank of Japan raised interest rates, leading to yen appreciation and impacting stock index futures. The US 2-year and 10-year treasury yields have ended their inverted situation, and Libya's largest oil field has completely stopped production due to political issues.

In the first half of 2024, Guangxi's imports and exports to ASEAN reached a record high of 185.62 billion yuan, up 26.7% year-on-year. Meanwhile, the decline in housing prices and increase in disposable income have eased the pressure on residents to buy homes in China.