Key Points - The Ministry of Commerce is determined to crack down on the smuggling and export of strategic minerals [1] - The State-owned Assets Supervision and Administration Commission (SASAC) aims to optimize the allocation of state-owned assets and resist "involution" competition [2] - The National Development and Reform Commission (NDRC) and the State Administration for Market Regulation (SAMR) are drafting amendments to the Price Law to improve government pricing and clarify standards for unfair pricing behavior [3] - The Ministry of Ecology and Environment is developing guidelines for air pollution prevention in the glass and mineral wool industries [4] - The China Gold Association reported a 3.54% year-on-year decline in gold consumption in the first half of 2025, with jewelry consumption down 26% [3] Domestic News - The People's Bank of China will conduct a 400 billion MLF operation with a one-year term on July 25, 2025 [1] - The Ministry of Agriculture and Rural Affairs emphasizes enhancing financial services for rural reform and expanding mortgage financing coverage [2] - The National Medical Insurance Administration is optimizing the rules for centralized procurement, focusing on the rationale behind the lowest bids [2] International News - The U.S. Ninth Circuit Court ruled that Trump's executive order on birthright citizenship is unconstitutional [5] - The U.S. White House released an AI action plan, indicating a shift in regulatory measures [5] - Japan's July composite PMI is at 51.5, with the services PMI at 53.5 and manufacturing PMI at 48.8 [5] Market Overview - The Shanghai Composite Index rose by 0.65% to 3605.73, while the Shenzhen Component Index increased by 1.21% to 11193.06 [6] - The onshore RMB is at 7.1547, appreciating by 1 point, while the offshore RMB decreased by 33 points to 7.1541 [6] - WTI crude oil prices increased by 1.24% to $66.06, and Brent crude oil rose by 0.95% to $69.16 [6]

Core Viewpoint - The article discusses the ongoing efforts by the National Export Control Coordination Mechanism Office to combat the smuggling and illegal export of strategic minerals, emphasizing the need for strict enforcement and comprehensive control measures to protect national security and interests [1][3]. Group 1: Special Action Deployment - A special action meeting was held in Nanning, Guangxi, to summarize the progress of combating strategic mineral smuggling and to analyze the current situation [1]. - Since the launch of the special action, various departments have taken decisive measures, resulting in the investigation of several illegal export cases and the arrest of multiple suspects [3]. - The meeting highlighted the ongoing severe situation regarding smuggling, with illegal activities still occurring due to collusion and deceptive practices [3]. Group 2: Comprehensive Control Measures - The National Export Control Coordination Mechanism emphasizes the importance of comprehensive control over the entire supply chain of strategic minerals, from extraction to export [4]. - Departments are required to collaborate effectively, conduct regular supervision, and promptly address any risks or illegal activities [4]. - Local authorities are tasked with ensuring compliance and enhancing awareness among enterprises regarding the legal export of strategic minerals [5]. Group 3: Legal and Regulatory Framework - The establishment of a joint enforcement coordination center for dual-use items is proposed to strengthen regulatory measures [3]. - The article mentions the need for timely publication of typical enforcement cases to deter illegal activities [3]. - The National Security Department has highlighted the dual-use nature of rare earth materials and the necessity of export controls to safeguard national security [5].

Core Viewpoint - The article discusses the ongoing efforts and challenges in combating the smuggling and illegal export of strategic minerals in China, emphasizing the need for strict enforcement and collaboration among various government departments [1][2]. Group 1: Current Situation and Actions - A special action against the smuggling of strategic minerals has been initiated, with various government departments actively participating and forming specialized teams to address the issue [1]. - The action has led to significant achievements, including the investigation of several illegal export cases and the arrest of multiple suspects involved in smuggling activities [1]. - Despite these efforts, the situation remains severe, with ongoing cases of smuggling driven by individual greed and collusion, utilizing increasingly covert methods such as false declarations and third-country transshipments [1]. Group 2: Future Directions and Requirements - Government departments are required to continue the special action and enhance law enforcement efforts [2]. - A proposal to establish a joint enforcement coordination center for dual-use items export control is under consideration [2]. - There is a need for strict and rapid handling of major illegal activities, with the publication of typical enforcement and judicial cases to raise awareness [2]. - Measures will be taken to prevent circumvention of export controls, including listing foreign end-users that evade national export control measures [2]. - Guidelines for compliant export of strategic minerals will be developed and published, along with advisories for export companies to conduct due diligence to prevent illegal military use [2].

Core Points - The National Export Control Coordination Mechanism Office has initiated a special action to combat the smuggling and illegal export of strategic minerals, emphasizing a "zero tolerance" policy and increasing law enforcement efforts [1][2] - The meeting highlighted the ongoing severe situation regarding the smuggling of strategic minerals, with illegal activities still occurring due to the collusion of some individuals for personal gain [1] - Various departments are required to maintain a high-pressure stance against smuggling, ensuring that strategic minerals and related technologies do not flow out illegally [1] Group 1 - The special action has led to the establishment of task forces and the formulation of plans to address the illegal export of strategic minerals, resulting in the arrest of several suspects [1] - The meeting called for continuous and in-depth implementation of the special action, with an emphasis on increasing law enforcement efforts [2] - A joint enforcement coordination center for dual-use items export control is to be established, along with the publication of compliance guidelines for strategic mineral exports [2] Group 2 - Departments are instructed to promptly investigate and handle major illegal activities, with a focus on preventing circumvention of export control measures [2] - Export enterprises are advised to conduct due diligence to prevent related items from being illegally used for military purposes [2]

Group 1 - The article highlights the challenges faced by Western companies, particularly American buyers, in acquiring critical minerals like antimony, gallium, and germanium due to China's export control measures [2][4] - American buyers have resorted to using third countries, such as Thailand and Mexico, to import significant quantities of antimony, totaling approximately 3,834 tons from December 2023 to April 2024, which exceeds the total imports from the previous three years [2][4] - The emergence of Thailand and Mexico as major buyers of Chinese antimony, despite not being in the top ten prior to 2023, indicates a strategic shift in sourcing practices [2][4] Group 2 - The article discusses the legal implications for entities that violate China's export control regulations, including potential fines, export bans, and severe penalties for smuggling offenses [6][8] - China's recent actions to strengthen export controls and crack down on smuggling and illegal transfers highlight the government's commitment to safeguarding national security and development interests [6][8] - The article emphasizes that China's export control measures are legitimate and that the country is prepared to take further actions to prevent unauthorized access to strategic mineral resources [8]

Group 1 - The Ministry of Commerce has initiated a special action to combat the smuggling and export of strategic minerals such as antimony and gallium, which are subject to military-civilian dual-use controls [3] - The basic pension for retirees will be increased by 2% starting from January 1, 2025, benefiting those who retired by the end of 2024 [3] - In the first half of 2025, significant breakthroughs were made in mineral exploration, with 38 new mineral sites discovered, and most mineral types have already met their exploration targets ahead of schedule [7] Group 2 - Beijing has launched 24 new measures to boost consumption, aimed at increasing residents' income and reducing their financial burdens [13] - The first batch of affordable housing construction plans in Beijing will see over 51,000 units started this year, with 41 projects expected to be completed, providing over 56,000 units [13]

Domestic News - The Ministry of Human Resources and Social Security and the Ministry of Finance announced an increase of 2% in the basic pension for retirees starting from January 1, 2025, for those who retired by the end of 2024 [1] - The Ministry of Commerce stated that China and the U.S. are maintaining close communication on economic and trade concerns, hoping for mutual respect and cooperation to stabilize and develop bilateral economic relations [1] - The China Automobile Industry Association reported that in the first half of the year, China's automobile production and sales both exceeded 15 million units, with new energy vehicles showing significant growth, achieving production and sales of 6.968 million and 6.937 million units respectively, representing year-on-year increases of 41.4% and 40.3% [3] Real Estate and Land Market - The China Index Academy reported that in the first half of 2025, the land transfer fees for residential land in 300 cities increased by 27.5% year-on-year, while the transaction area decreased by 5.5%. The top 20 cities accounted for 68% of the national land transfer fees [4] International News - The Bank of Korea maintained its policy rate at 2.5%, citing weak construction activity and slowing export growth, with the economy contracting by 0.2% quarter-on-quarter in the first quarter of the year [5] - The Japanese Government Pension Investment Fund (GPIF) reported that 51.8% of its foreign bonds are U.S. Treasury bonds, the highest proportion since 2015 [6] - The European Central Bank's governing council member indicated that despite slow economic growth in France, a positive trend is expected, with GDP projected to grow by 0.6% in 2025 [6]

Group 1 - The Ministry of Commerce of China stated that since May, under the guidance of the consensus between the leaders of China and the U.S., high-level economic talks have been held in Geneva and London, resulting in the Geneva Consensus and London Framework, which aim to stabilize economic relations between the two countries [1] - The spokesperson emphasized the importance of maintaining close communication on economic concerns at multiple levels and called for mutual respect, peaceful coexistence, and win-win cooperation to enhance dialogue and communication [1] - The Ministry has initiated a special action to combat the smuggling and illegal export of strategic minerals, such as antimony and gallium, which are subject to export controls due to their military and civilian dual-use nature [2] Group 2 - In response to U.S. President Trump's announcement of a 50% tariff on imported copper citing national security, the Chinese Foreign Ministry reiterated its opposition to the broad interpretation of national security and stated that trade wars and tariff impositions do not benefit any party [3]

Group 1 - The Chinese Ministry of Commerce has confirmed ongoing communication between China and the U.S. regarding trade relations, emphasizing the importance of mutual respect and cooperation to stabilize economic ties [2] - The spokesperson highlighted that since May, high-level economic talks have taken place in Geneva and London, resulting in agreements that aim to ensure sustainable development in U.S.-China economic relations [2] - The Ministry of Commerce responded to EU leaders' comments on "overcapacity," stating that China's new energy sector does not face overcapacity but rather a capacity gap, urging the EU to engage in more constructive dialogue [3] Group 2 - The Chinese government has initiated actions to combat the smuggling and illegal export of strategic minerals, aligning with international practices for export control [4] - The Ministry of Foreign Affairs reiterated China's opposition to the broad interpretation of national security, particularly in response to the U.S. imposing a 50% tariff on copper imports, asserting that trade wars yield no winners [5] - China has expressed its commitment to signing the Southeast Asia Nuclear-Weapon-Free Zone Treaty, indicating a willingness to enhance regional security cooperation [6][7]

Core Viewpoint - The Chinese government is intensifying its control over the export of strategic mineral resources, emphasizing the importance of safeguarding national security and development interests through comprehensive regulation of the entire export chain [1][2]. Group 1: Export Control Measures - A meeting was held to discuss strengthening the control of strategic mineral exports, highlighting the need for all departments and local governments to enhance training, supervision, and monitoring of relevant entities [1]. - The meeting stressed the importance of a proactive approach to prevent illegal outflows of strategic minerals, with a focus on tracking their movement and sharing information for timely warnings and responses [1]. Group 2: Anti-Smuggling Actions - The Ministry of Commerce reported that there have been instances of collusion between foreign entities and domestic illegal actors attempting to evade export controls through smuggling [2]. - A special action was initiated to combat the smuggling of strategic minerals, with a focus on enhancing law enforcement collaboration and creating a high-pressure environment to deter illegal exports [2]. - The Ministry of Commerce is taking measures to address recent illegal activities in the strategic mineral sector, including false reporting and smuggling through third countries, by conducting cross-departmental investigations and increasing inspection efforts at ports [2].