FED'S BEIGE reports the U.S. labor market broadly expanded. Of 12 Fed districts, five saw job gains (ranging from mild to moderate-to-meaningful), seven were essentially unchanged; only one district showed an improvement versus the prior report. Employment gains were concentrated in manufacturing, construction and retail, while technicians and skilled trades remain hard to hire; a few districts reported limited job declines. Wages largely rose modestly to moderately, with some pay increases driv

China's National Bureau of Statistics deputy director Mao Shengyong said at a State Council Information Office briefing that investment in emerging sectors sustained momentum in 1H, with notable increases in new energy, artificial intelligence and integrated circuits. New-type infrastructure spending is benefiting long-term growth: planning and construction of the “six networks” has accelerated, traditional and new infrastructure are proceeding in tandem, and investment in computing power networks and next‑generation communications has risen quickly, supporting digital transformation. Targeted spending to shore up livelihoods is focused on combining physical and human-capital investment and advancing agricultural and rural modernization. Mao said scope to expand effective investment remains wide: China’s per-capita capital stock is still well below developed markets, leaving room for investment—notably in traditional industry upgrading, emerging and future industries, elderly- and child-care services, primary healthcare, higher-quality education capacity and rural revitalization.

美联储理事库克：随着人工智能的发展，投资小型企业的成本正在降低。