Core Viewpoint - JD.com has launched its first self-operated takeaway store named "Qixian Xiaochu" on July 20, marking its entry into the takeaway market with a unique business model aimed at addressing food safety issues [1] Group 1: Business Model - The new takeaway store operates on an "online ordering + self-pickup" model, with no dine-in options available [1] - JD.com's founder Liu Qiangdong indicated that the takeaway market is substantial and hinted at a business model that would differ significantly from Meituan's, expected to be revealed in the near future [1] Group 2: Market Context - The launch of "Qixian Xiaochu" reflects JD.com's strategic move to tap into the growing takeaway market, which has seen increasing consumer demand [1] - The emphasis on food safety in the new business model suggests a response to consumer concerns and a potential competitive advantage in the market [1]

Core Viewpoint - A nationwide self-inspection and tax payment initiative targeting domestic residents' investment income from Hong Kong and U.S. stocks has been launched, focusing on high-net-worth individuals and requiring them to report and pay taxes on overseas income from 2022 to 2024 [1][2][4]. Group 1: Legal Basis and Tax Types - The legal basis for taxing domestic residents' overseas income has been clearly established, requiring individuals to report overseas investment income, interest, capital gains, and employment income [2][6]. - The tax types involved include capital gains tax and dividend tax, both subject to a 20% rate, with capital gains from investments via the Hong Kong Stock Connect being exempt from personal income tax until the end of 2027 [2][9]. Group 2: Impact and Industry Response - The frequency of tax payment notifications has significantly increased since May, expanding from first-tier cities to economically active regions, primarily targeting residents who invested through overseas brokers [3][4]. - The current round of tax notifications mainly affects high-asset individuals, with required payments ranging from over 100,000 to several million yuan, highlighting a previously weak enforcement of tax regulations on overseas investment income [4][6]. - Despite the notifications, industry insiders indicate that the overall impact on brokerage firms is manageable, as many had already ceased new business with mainland residents due to regulatory definitions of non-compliance [2][11]. Group 3: Tax Calculation and Controversies - Tax on capital gains is calculated based on the difference between selling and buying prices, with a 20% tax applied to the profit, while dividend tax involves a 20% total tax burden after accounting for U.S. withholding taxes [9][10]. - There are ongoing discussions regarding the taxation of losses and gains over multiple years, with investors expressing dissatisfaction over the requirement to pay taxes in profitable years despite no overall gain [10]. Group 4: Shift to Hong Kong Stock Connect - The tax policy has prompted some investors to consider shifting their focus to the Hong Kong Stock Connect, which offers significant tax advantages by exempting capital gains tax until 2027 [11][12]. - However, concerns remain regarding the limited range of investment options available through the Hong Kong Stock Connect, which may not cover all desired stocks and derivatives [12].

Core Viewpoint - The newly published "Housing Rental Regulations" aims to standardize housing rental activities, protect the legal rights of parties involved, stabilize rental relationships, and promote high-quality development of the rental market, with implementation set for September 15, 2025 [1][2]. Summary by Sections Overall Requirements - The regulations emphasize that the development of the housing rental market should align with national policies and encourage a combination of market-driven and government-guided approaches, promoting diverse channels for increasing rental housing supply and fostering market-oriented, professional rental enterprises [1]. Regulation of Rental Activities - Housing intended for rental must comply with legal standards related to construction and fire safety, ensuring no risk to personal safety and health. Non-residential spaces cannot be rented out for residential purposes. Both landlords and tenants are required to sign rental contracts under real names and adhere to specified behavioral norms [1]. Regulation of Rental Enterprises - Rental enterprises must provide truthful, accurate, and complete information about available properties, maintain rental archives, and establish sound internal management systems. Those engaged in subleasing must set up regulated rental fund accounts [1][2]. Regulation of Brokerage Institutions - Brokerage institutions are required to verify and record the identity of clients and property ownership before publishing rental information, conduct on-site inspections, and prepare housing condition reports. They must also clearly price their service fees [2]. Strengthening Supervision and Management - Local governments at the city level and above must establish rental price monitoring mechanisms and regularly publish rental level information. Property management departments must implement graded supervision based on the credit status of rental enterprises and their personnel, while industry organizations should enhance self-regulation [2]. Strict Accountability - The regulations stipulate strict legal responsibilities for landlords, tenants, rental enterprises, brokerage institutions, and relevant government officials in cases of violations [2].

Core Viewpoint - The stock of Dongfang Electric (HK01072) experienced a significant and unusual spike, rising over 700% due to a suspected erroneous trade, which was later corrected, but the stock still closed with a substantial gain of 65.21% [1][3]. Group 1: Stock Performance - At 9:30:22 AM, a trade occurred at 119.90 HKD per share for 400 shares, amounting to approximately 47,960 HKD, which was a drastic increase from the previous price of 19.32 HKD per share [1][2]. - Following the erroneous trade, the stock price quickly corrected to around 20.85 HKD per share [1]. - Despite the correction, Dongfang Electric closed at 24.65 HKD per share, reflecting a 65.21% increase [3]. Group 2: Market Context - The erroneous trade was speculated to be a result of a trader mistakenly entering 119.90 HKD instead of 19.90 HKD [2]. - The A-share of Dongfang Electric also hit the daily limit up, closing at 19.62 CNY [3]. - The opening of the Yarlung Tsangpo River downstream hydropower project in Tibet contributed to a broader market rally in related sectors such as infrastructure and cement [3].

图片来源：视觉中国 调查组原本认为鸟击损坏了两台发动机，导致电气和液压故障，从而使起落架无法展开，飞行员被 迫进行紧急机腹着陆。然而，最新的调查结果确认左发动机本身没有缺陷，ARAIB发现发动机的电 子控制系统运行正常，因此得出结论，发动机停止运转是手动操作造成的，而非系统故障。 据解放日报援引韩国媒体报道，韩国航空和铁路事故调查委员会（ARAIB）在其中期报告中得出结 论，去年12月29日发生在韩国务安机场、造成179人死亡的济州航空2216航班坠机事件，是由于飞 行员错误地关闭了正常运转的左侧发动机造成的。 ...

Core Viewpoint - The stock of Shangwei New Materials has achieved a remarkable performance, with a continuous rise of 20cm limit up for nine consecutive trading days, setting a new record in the A-share market with a cumulative increase of over 400% [1][3]. Group 1: Stock Performance - Shangwei New Materials opened with a 20cm limit up and maintained this status until the close, with a closing price of 40.16 yuan per share and a market capitalization of 16.2 billion yuan [1]. - The stock has surpassed the previous record of eight consecutive 20cm limit ups held by AVIC Chengfei, which occurred from February 2 to February 13, 2023, with a cumulative increase of 416.2% during that period [3]. Group 2: Catalyst for Stock Surge - The surge in stock price was triggered by an announcement on July 8, where Shangwei New Materials revealed plans for a change in control through a combination of agreement transfer and tender offer, involving the establishment of a holding platform by Zhiyuan Robotics and its core team [3][6]. - If the transaction is completed, the controlling shareholder will change to Shanghai Zhiyuan Hengyue Technology Partnership, with the actual controller being Deng Taihua [6]. Group 3: Company Background - Shangwei New Materials, listed on the Sci-Tech Innovation Board since September 28, 2020, focuses on the research, production, and sales of new materials, and is a major supplier of environmentally friendly corrosion-resistant resins globally [8]. - The company has responded to market concerns regarding its connection to the robotics business, stating that its thermosetting resins are primarily used in industrial robots, while humanoid robots typically use thermoplastic resins [8].

对此，郭嘉昆强调，有关中国企业通过市场方式获得了达尔文港的租约，其合法权益应该受到充分 保护。 据央视新闻报道，7月21日，外交部发言人郭嘉昆主持例行记者会。有记者就澳大利亚达尔文港相关 合作问题进行提问。 ...

郭嘉昆表示，元首外交对中美关系发挥着不可替代的战略引领作用。"关于你提到的具体问题，我目 前没有可以提供的信息。" 据澎湃新闻，7月21日，外交部发言人郭嘉昆主持例行记者会。路透社记者提问，有报道称，中美元 首或将在未来几个月内会面。中方能否证实？ ...

"无论是中国人还是外国人，在中国都要遵守中国的法律。中方在调查中，会依法保障其合法权 益。"郭嘉昆强调，这是一起司法个案，中方将一如既往欢迎各国人士来华旅游经商，并依法保障其 各项权益。 据澎湃新闻，7月21日，外交部发言人郭嘉昆主持例行记者会。记者提问，媒体报道，美国富国银行 高管茅晨月在最近几周被禁止离开中国。请问中方对此有何评论?郭嘉昆表示，经了解，茅晨月女士 涉及中方在办的一起刑事案件，被中方执法部门依法采取限制出境措施。根据中国法律，案件正在 调查中，茅晨月女士暂时不能离境，并且有义务配合调查工作。 ...

Core Viewpoint - The A-share market experienced a strong performance with both the Shanghai Composite Index and the ChiNext Index reaching new highs for the year, driven by significant trading volume and a focus on infrastructure-related stocks [1][2]. Market Performance - The Shanghai Composite Index rose by 0.72%, the Shenzhen Component Index increased by 0.86%, and the ChiNext Index gained 0.87% by the end of the trading day [2]. - The total trading volume for the Shanghai and Shenzhen markets reached 1.7 trillion yuan, an increase of 128.9 billion yuan compared to the previous trading day [1]. Sector Analysis - The market saw a concentration of activity in the large infrastructure sector, with over 4,000 stocks rising and more than 100 stocks hitting the daily limit up [1]. - Key sectors that performed well included cement, building materials, steel, and ultra-high voltage, with companies like Conch Cement experiencing significant gains [1]. - Other active sectors included the ultra-high voltage and power grid concepts, with stocks like Guodian Nanzi also hitting the daily limit up [1]. - The robotics sector maintained strong momentum, exemplified by Changsheng Bearing's 20% limit up [1]. - Conversely, sectors such as cross-border payments, banking, AI, and photolithography faced declines [1].