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China’s cabinet on Wednesday pledged to contain "irrational" competition in the electric vehicle (EV) sector, vowing stronger cost investigations and price monitoring, according to state broadcaster CCTV. Chaired by Premier Li Qiang, the meeting addressed concerns over a two-year price war in the world's largest auto market. The cabinet promised short- and long-term steps to foster high-quality growth, though details were limited. Automakers were urged to honor supplier payment terms, with support for innovation and quality upgrades. Regulators warn that cutthroat pricing could threaten the industry’s sustainability. Separately, the cabinet unveiled plans to spur domestic consumption by easing restrictions on household spending and improving its consumer goods trade-in program.

周四，上证综指微跌0.1%，至3500点左右，而深证成分股上涨0.6%，至10780点，内地股市表现喜忧参半，投资者继续关注全球贸易的发展。在最新的更新中，特朗普总统宣布计划向150多个较小的国家发出统一的关税通知，为所有国家设定基准税率，而欧盟、日本和韩国等主要贸易伙伴已经在8月1日之前收到了单独的关税通知。与此同时，特朗普软化了对中国的立场，以确保与Xi举行峰会并达成贸易协议，在持续的贸易担忧中，将重点从强硬言论转移到快速购买协议上。投资者现在正在等待中国人民银行本周晚些时候的最新贷款最优惠利率决定，预计不会有任何变化。在显著上涨的股票中，涨幅最大的是比亚迪（1%）、中机（1.4%）和北基（3.2%），而金融股领跌。

The Shanghai Composite inched down 0.1% to around 3,500 while the Shenzhen Component climbed 0.6% to 10,780 on Thursday, with mainland stocks showing mixed performance as investors continued to monitor ongoing global trade developments. In the latest update, President Trump announced plans to send a uniform tariff letter to over 150 smaller countries, setting a baseline rate for all, while major trading partners like the EU, Japan, and South Korea have already received individual tariff notices ahead of August 1. Meanwhile, Trump has softened his stance on China to secure a summit with Xi Jinping and a trade deal, shifting focus from tough rhetoric to quick purchase agreements amid ongoing trade concerns. Investors now await the People’s Bank of China’s latest loan prime rate decision later this week, with expectations for no change. Among notable movers, top gainers were BYD (1%), Zhongji (1.4%), and Beigene (3.2%), while financial stocks led losses.

ICYMI-中国电动汽车电池行业-新的出口限制。《华尔街日报》报道（门控）。总之：中国正在加强对电动汽车电池技术出口的控制，以保持其相对于美国和其他国家的竞争优势。

ICYMI - China electric-vehicle battery industry - new export restrictions.The Wall Street Journal with the report (gated). In summary: China is strengthening its control over electric vehicle battery technology exports to maintain its competitive advantage over the U.S. and other countries.

周三，上证综指下跌0.2%，至3500点以下，而深证成指下跌0.05%，至10740点，延续了前一交易日的跌幅，因为投资者继续努力应对贸易不确定性。唐纳德·特朗普总统表示，美国将“以非常友好的方式”与中国作战，尽管贸易谈判似乎没有进展。与此同时，特朗普表示，他已与印度尼西亚达成初步贸易协议，对其商品征收19%的关税，同时警告对小国征收10%以上的关税。在国内，投资者正在等待北京方面的政策信号，以应对通缩压力和消费疲软。胜利巨人（-2.4%）、IEIT Systems（-1.2%）、河北常山（-3.6%）、苏州TFC（-1.7%）和现代安培（-1.2%。

The Shanghai Composite fell 0.2% to below 3,500 while the Shenzhen Component shed 0.05% to 10,740 on Wednesday, extending losses from the previous session as investors continued to grapple with trade uncertainties. President Donald Trump said the US would be fighting China “in a very friendly fashion,” although there appears to be no progress in trade negotiations. Meanwhile, Trump said that he had struck a preliminary trade deal with Indonesia which sets a 19% tariff on its goods, while warning of over 10% levies on smaller nations. Domestically, investors awaited policy signals from Beijing amid efforts to combat deflationary pressures and sluggish consumption. Notable losses were seen from Victory Giant (-2.4%), IEIT Systems (-1.2%), Hebei Changshan (-3.6%), Suzhou TFC (-1.7%), and Contemporary Amperex (-1.2%).