Nvidia(US:NVDA) Sou Hu Cai Jing·2025-07-31 09:12Group 1: Macroeconomic Developments - The central government will bear approximately 90% of childcare subsidies, which will be exempt from personal income tax, with an initial budget of around 90 billion RMB allocated for this purpose [2] - The U.S. will impose a 50% tariff on imported semi-finished copper products starting August 1, which may significantly increase costs for American manufacturers [3] - The Federal Reserve decided to maintain the federal funds rate target range at 4.25% to 4.50%, marking the fifth consecutive meeting without a rate change, with some internal dissent regarding potential rate cuts [4] Group 2: Market Performance - The A-share market ended July with the ChiNext index rising over 8%, while the Shanghai Composite Index lost the 3600-point level, with overall market performance showing a mixed trend [4] - The domestic gaming market reported a record high in both revenue and user scale for the first half of the year, with actual sales revenue reaching 168 billion RMB, a year-on-year increase of 14.08% [5] Group 3: Corporate Actions - Nvidia has been asked to submit materials regarding the security risks associated with its H20 chips following concerns raised by U.S. lawmakers about the need for tracking features in exported advanced chips [6][7] - BlackRock increased its holdings in China International Capital Corporation (CICC) H-shares, with a total of 95.4 million shares held, maintaining a stake above 5% [5] - Wanda Group has transferred its stake in a Wanda Plaza, with the new shareholder being Langfang Zeruitong Technology Co., Ltd., indicating ongoing restructuring within the company [9]