Key Points - The Chinese Ministry of Commerce's international trade representative Li Chenggang held discussions with U.S. officials regarding the implementation of agreements reached during the recent talks between the leaders of China and the U.S. [1] - The former vice chairman of the China Banking and Insurance Regulatory Commission, Huang Hong, suggested granting more experimental reform rights to the Guangdong-Hong Kong-Macao Greater Bay Area, particularly in areas like technology finance and digital finance [2] - The People's Bank of China's former vice governor, Li Dongrong, emphasized the need to accelerate cross-border financial connectivity in the Greater Bay Area, highlighting the importance of aligning standards and rules [2] - The Macau Monetary Authority is advancing the "Digital Macao Dollar" project, aiming for sandbox testing by the end of the year to enhance financial innovation and connectivity within the Greater Bay Area [3] - Recent data from Hong Kong Exchanges revealed that major financial institutions like JPMorgan, Citigroup, and Morgan Stanley have increased their holdings in Chinese stocks, indicating a growing interest from global hedge funds in Chinese equities [3] - The Brazilian government has initiated procedures under the Economic Equivalence Law in response to the U.S. imposing a 50% tariff on Brazilian exports, signaling potential trade tensions [6] - Canada's GDP contracted by 1.6% in the second quarter, marking the first decline in seven quarters, primarily due to a significant drop in goods exports and reduced business investment [6]

Core Viewpoint - The "Action Plan" aims to enhance cross-border financial services in Shanghai, supporting enterprises going global and the Belt and Road Initiative, while leveraging digital empowerment to convert policy benefits into tangible development outcomes [1][2][3] Group 1: Significance of the Action Plan - The issuance of the "Action Plan" aligns with the growing demand for cross-border financial services and aims to leverage Shanghai's advantages as an international financial center to provide comprehensive financial support for enterprises and the Belt and Road Initiative [2][3] - The plan supports enterprises in going global and promotes high-quality economic development by improving cross-border capital flow efficiency and reducing trade costs [3] Group 2: Implementation Measures - The "Action Plan" includes 18 key measures across five areas: improving cross-border settlement efficiency, optimizing exchange rate hedging services, strengthening financing services, enhancing insurance protection, and refining comprehensive financial services [4] - Shanghai has initiated pilot reforms in foreign exchange business management, with 4 banks and 10 branches participating, achieving an international payment scale of $1.3 trillion from January to May 2025 [5] Group 3: Cross-Border Financial Services - The plan facilitates multinational companies' cross-border fund management, with 169 companies participating in cross-border fund concentration management, covering 2,100 domestic and 483 foreign member companies, and managing external debt of $246.83 billion [6] - The free trade account functions are being expanded, with cumulative cross-border settlements amounting to RMB 279.3 trillion and financing obtained through these accounts totaling RMB 4.07 trillion by May 2025 [7] Group 4: Digital Currency and Risk Management - The plan promotes the use of digital RMB in cross-border payments, with nearly 8 billion yuan in transactions completed by May 2025, supporting various trade and investment scenarios [8] - Efforts to enhance exchange rate risk management include training and the development of a service platform, with a signed amount of $301.03 billion in exchange rate hedging products, reflecting a 46% year-on-year increase [9][10] Group 5: Future Directions - Future initiatives will focus on deepening foreign exchange business reforms, enhancing cross-border investment facilitation, and expanding the use of RMB in international trade, particularly in Belt and Road countries [14][15]

Group 1: Core Insights - WeChat Pay showcased new digital tools for small and micro businesses, including "payment links" and "distribution management" [1] - The number of transactions made by foreign nationals using WeChat Pay in China tripled compared to the same period last year [1] - WeChat Pay has implemented a subsidy program in response to the national policy promoting consumption, with over 10 billion yuan in subsidies for the home appliance and digital sectors by June 2025, driving consumption worth hundreds of billions [1] Group 2: Technological Innovations - WeChat Pay demonstrated the latest applications of palm scanning technology in public transport and dining for the elderly, along with explorations in iris XR technology [1] - The company has integrated AI technology across various processes, including research and development, merchant services, risk control, and customer service [3] - Tencent has completed the verification of "barcode interconnectivity" for digital yuan wallets, enhancing convenience for payments across multiple scenarios [1] Group 3: Cost Reduction Initiatives - WeChat Pay has provided over 40 billion yuan in fee reductions and benefits to small and micro enterprises, impacting millions of merchants [1] - The company has actively participated in cross-border digital currency payment scenarios, contributing to the multilateral central bank digital currency bridge project to improve cross-border clearing efficiency [1]

每经记者 杨建 每经编辑 彭水萍 （一）重要市场新闻 1、美股三大指数集体收涨，道指涨1.07%，纳指涨2.5%，标普500指数涨1.67%；科技股领涨，特斯 拉、英特尔涨超5%，亚马逊、Meta、博通、AMD、台积电涨逾4%，英伟达涨近4%，苹果、谷歌涨逾 2%。区块链概念股继续走强，嘉楠科技涨近7%，Riot Platforms涨超5%，Bit Digital涨逾4%。中概股表 现强势，纳斯达克中国金龙指数涨2.93%；小鹏汽车涨逾7%，蔚来涨近5%，向上融科、富途控股、哔 哩哔哩涨超3%，阿里巴巴、拼多多、百度涨超2%。 2、国际油价走弱，美油主力合约收跌2.18%，报62.28美元/桶；布伦特原油主力合约跌1.97%，报66.11 美元/桶。国际金价继续调整，现货黄金跌2.71%，报3287.94美元/盎司，此前一个交易日最高涨至3500 美元的历史高位；COMEX黄金期货跌3.45%，报3301.50美元/盎司；COMEX白银期货涨2.01%，报 33.88美元/盎司。欧洲三大股指集体上涨，德国DAX指数涨3.14%报21961.97点，法国CAC40指数涨 2.13%报7482.36点，英国富时1 ...