MOFCOM and eight other ministries issued guidance on July 9 setting a 2030 target to establish a modern retail system characterized by rational spatial layout, higher-quality supply, diversified formats, smart and convenient channels, and orderly competition. The guidance prioritizes system planning, supply-side upgrading, demand stimulation and new growth drivers; it seeks to develop flagship retail scenarios, promote integrated innovative formats, cultivate internationally competitive retail e

July 8 — Pang Yaping, board member and managing director and head of index R&D at E Fund Management, said China now has nearly 1,600 ETFs since the first in 2004, with aggregate AUM about 6 trillion yuan at the start of the year. ETF penetration of the Chinese equity market is roughly 2.4%, versus about 24% in the US and ~25% in Europe, implying substantial upside. Product types have diversified—broad-market, sector/theme, style/factor, cross‑border and commodity ETFs—and participation from medium- and long-term investors is increasing. Pang flagged pronounced product homogeneity among the ~1,600 ETFs and urged a shift from scale-driven expansion to stronger operational capability, global allocation and active-passive integration. He said index investing’s purpose is to lower investment difficulty and called for continued focus on refined operations, product innovation and investor services to drive quality over quantity.

博通(AVGO.O)盤前收復部分跌幅，現跌0.5%。公司與蘋果(AAPL.O)達成生產逾150億顆芯片的協議。