Domestic News - The Ministry of Commerce expressed China's expectation to deepen dialogue with the U.S. to achieve more win-win results following the recent economic talks held in Stockholm [1][2] - China's manufacturing PMI for July was reported at 49.3%, a decrease of 0.4 percentage points from the previous month, marking the first decline in four months [2] - The National Development and Reform Commission announced a new pricing mechanism for newly launched drugs, adding over 100 price items related to new medical technologies [2] International News - The Bank of Japan maintained its current interest rate level amid uncertainties regarding the impact of U.S. tariff policies on the Japanese economy [5] - The German government plans a total expenditure of €520.5 billion for the 2026 federal budget, a 3.5% increase from the previous year, with a focus on infrastructure and digital development [5] Market Overview - The Shanghai Composite Index closed at 3573.21, down 1.18% [6] - The Hang Seng Index ended at 24773.33, down 1.6% [6] - The onshore RMB was quoted at 7.193, appreciating by 62 points [6]

Core Viewpoint - The U.S. Treasury Secretary's claims about China withholding rare earth exports are contradicted by the American Chamber of Commerce, which states that delays are due to new approval processes rather than outright bans [1][3]. Group 1: Rare Earth Exports - The American Chamber of Commerce president, Michael Hart, indicated that China is not blocking rare earth exports but that the approval process is slower than expected [1]. - U.S. Treasury Secretary's comments about China withholding rare earths came after President Trump accused China of violating agreements [1]. - China accounts for nearly 70% of global rare earth production, making it a critical player in the supply chain for high-end products [3]. Group 2: Export Control Measures - In response to trade tensions, China announced a temporary suspension of export control measures on 28 U.S. entities, effective from May 14, 2025 [3]. - The Chinese Ministry of Commerce stated that export controls on dual-use items are a common international practice, reflecting China's commitment to maintaining global peace and stability [3]. - The U.S. has implemented several discriminatory measures against China, including restrictions on AI chip exports and visa cancellations for Chinese students, which have escalated trade tensions [4]. Group 3: Bilateral Relations - The Chinese Ministry of Commerce criticized the U.S. for unilaterally escalating trade tensions and urged the U.S. to correct its actions to maintain healthy bilateral economic relations [4]. - The ongoing trade disputes and accusations from the U.S. are seen as detrimental to the consensus reached in previous economic talks [4].

Group 1 - The Ministry of Commerce spokesperson criticized the U.S. for unilaterally escalating trade tensions, which increases uncertainty and instability in bilateral economic relations, and accused the U.S. of unjustly blaming China for violating agreements [1] - The Chinese Ministry of Industry and Information Technology announced plans to intensify efforts to regulate "involution" competition in the automotive industry to maintain a fair and orderly market environment [1] - As of June 1, the sales volume of consumer goods through the trade-in program has exceeded 1 trillion yuan this year [1]