• China’s State-backed developer Greenland Holdings said on Thursday it will jointly invest more than $1 billion in a biotech industrial park in south San Francisco with Agile Group, Ping An Trust and Poly Sino Capital
  • China will conduct a pilot employee stock ownership plan in some State-owned enterprises (SOEs) this year to improve their competitiveness; this initiative aims to incentivize employees, as equity-holders, to work harder to sharpen company competitiveness, according to guidelines released by the State-Owned Assets Supervision and Administration Commission of the State Council
  • China Securities Journal said in a commentary article that pressure for China to ease monetary policy is increasing, and it is more likely to cut RRR than interest rates in the future
  • China’s top state planner has approved a highway project worth 7.93 billion yuan  in northwestern Gansu province, the National Development and Reform Commission said
  • China Securities Finance Co., LTD owns 852.7625 million shares of China Merchants Bank’s stocks at the end of June of this year, accounting for 3.38% of its total equity, and sharply increasing from a 2.37% stake, or 598.4347 million shares, at the end of last year,, according to the bank’s interim report
  • A total of 30.7 billion yuan of special incentive and subsidized funds aimed at cutting excess production capacity has been allocated: the National Development and reform commission
  • The Shanghai index closed 0.45% lower by the midday break, while the Shenzhen index fell 0.3% and the ChiNext index lost 0.1%