MOFCOM said at a June 23 briefing that as of June 22 consumer trade-in programmes have generated 5 trillion yuan in cumulative related goods sales and benefited about 630 million participants. Automotive trade-ins accounted for 63% of sales; MOFCOM said the schemes have supported consumption and aided industry renewal and product circulation.

Southbound Stock Connect net bought CNY 10.37 bln today. Via Shanghai Connect, Tracker Fund of Hong Kong and Yangtze Optical Fibre and Cable were top net buys, HKD 1.95 bln and HKD 1.36 bln respectively; Alibaba Group-W was top net sell, HKD 665 mln. Via Shenzhen Connect, Tracker Fund and SMIC were top net buys, HKD 2.22 bln and HKD 1.15 bln respectively; Yangtze Optical Fibre and Cable was top net sell, HKD 844 mln.

Tesla (TSLA.O) new-vehicle registrations in May across the EU, UK, Iceland, Liechtenstein, Norway and Switzerland rose more than 100% year-on-year to 28,610, ACEA data show. In the EU alone registrations were 21,767, also up over 100% y/y. May was Tesla's fourth consecutive month of European sales growth after more than a year of decline; ACEA shows its first month of registration growth since December 2024 was February.