Domestic News:
1. The National Development and Reform Commission (NDRC) convened a national investment promotion meeting.
2. Changxin Technology: Net profit for the first half of the year was 77.605 billion yuan, turning a loss into a profit year-on-year.
3. Ministry of Finance: Local surtaxes are proposed to be taxed at a rate of 11%-13%.
4. To reform and improve the real estate financing system, the State Financial Regulatory Commission of China issued five management measures.
5. Income from the transfer of restricted shares of listed companies by individuals will be subject to a 20% personal income tax rate.
6. Starting from 24:00 on August 28, the domestic retail price limits for gasoline and diesel will be increased by 375 yuan and 360 yuan per ton, respectively.
7. NDRC: The development of the robotics industry must be tailored to local conditions to prevent blind following and a rush into the market.
8. A relevant official from the Ministry of Finance answered reporters' questions regarding S&P maintaining China's sovereign credit rating and stable outlook.
9. Three departments issued a notice on improving the sales system for commercial housing: promoting the sale of existing homes and achieving "what you see is what you get". 10. Two departments issued the "Opinions on Reforming and Improving Real Estate Credit Management and Promoting the Accelerated Construction of a New Model for Real Estate Development," extending the maximum term for personal housing loans from 30 years to 40 years.
International News:
1. Trump signed an executive order creating the U.S. Space Academy.
2. India's foreign exchange reserves rose to a record $729.33 billion.
3. Trump: The U.S. gained "majority control" of over 65 billion barrels of Venezuelan oil reserves.
4. Japan has spent a record $96.4 billion in the past month to support the yen.
5. The Russian Ministry of Defense announced on August 28 the successful test launch of an intercontinental ballistic missile.
6. The preliminary estimate for the baseline change in U.S. non-farm payrolls in 2026 is -79,000, compared to market expectations of 183,000.
7. Federal Reserve
—① Hamak: The Fed should take action to raise interest rates; waiting will only bring pain. He does not believe financial conditions are tight. ② Warsh: Inflation data does not show a significant improvement in the trend; the Fed's main focus should be on prices. ③ Warsh: We must be certain that underlying inflation is moving toward the target, otherwise we still have work to do. It's difficult to describe financial conditions as restrictive. ④ Goolsby: Inflation has lasted longer than expected. The focus must remain on determining whether inflation is merely temporary. No strong opinion on the number of FOMC meetings. ⑤ Market pricing indicates a higher probability of a Fed rate hike in September than of maintaining rates unchanged.
8. Middle East Situation—
① Goldman Sachs: Persian Gulf oil exports have recovered to about two-thirds of pre-war levels.
② Iranian Foreign Minister: Getting diplomacy back on track is not impossible, but "pressure will not work."
③ The US hopes to widen the main channel of the Strait of Hormuz by mid-September so that at least 50 ships can enter and exit the Gulf each night.
④ Trump says the Strait of Hormuz is open; US officials say Iran's leverage is being eroded.
⑤ The Iranian Foreign Ministry condemns the new US economic threat and calls on all countries not to implement it.
⑥ Iranian President Pezechzian: Oman agrees that the Strait of Hormuz should be managed according to the Islamabad memorandum of understanding. If the four commitments are fulfilled, Iran will open the shipping lanes.
