CITIC Securities executive committee member Li Yongjin said China is in a cycle of shifting growth drivers. He warned of near-term domestic-demand pressure for consumption and the pharmaceuticals sector but said the rise of new productive forces and structural transformation should help stabilise China’s long-term potential growth. He flagged expanding total consumption and continued pharmaceutical innovation and internationalisation as clear long-term trends that sustain identifiable sectoral i

On the 10th, the Ministry of Agriculture and Rural Affairs said it has made preparedness for Typhoon Bawei a priority, mobilizing flood and typhoon defenses to limit damage. The ministry warned Bawei's wide reach, strong winds and heavy rain may adversely affect autumn grain and broader agricultural production, and urged local agricultural authorities to closely monitor rainfall, floods and winds, issue timely agrometeorological disaster warnings, and implement direct-to-frontline call-and-response pre-disaster warning systems. The ministry and the China Meteorological Administration have already issued warnings for field waterlogging and wind damage and circulated an emergency notice to coordinate responses.

The IEA warned on Friday that a recent escalation in US‑Iran hostilities could overturn its projection that oil markets will move into a substantial supply surplus in 2027. After the Strait of Hormuz reopened in June following a US‑Iran agreement, global supply rose by 4.10 mln b/d but remains 9.40 mln b/d below pre‑conflict levels; at the peak of the crisis the strait’s effective closure cut flows by as much as 14.00 mln b/d. The agency forecasts a 7.50 mln b/d supply increase next year but says that outlook depends on improved transit through Hormuz. The July 7‑8 escalation has clouded that view and could negate the expected shift to surplus.