Galaxy Securities says Kweichow Moutai has raised iMoutai retail prices multiple times since 2026; given Moutai’s role as a market bellwether, the moves signal the high-end baijiu market may have bottomed and suggest Moutai’s sales pressure has eased.

China's CSI 500 index futures (IC) main contract surged past 7,700, rising 6.77% intraday.

An expanded meeting of Shenzhen's municipal finance committee reviewed 1H economic performance and set H2 policy priorities. Industry: officials urged firms to track trends and concentrate support on leading and emerging companies, prioritize AI, biomed and other strategic sectors, and push new listed products to sustain industrial growth. Trade: directive to diversify export markets, expand goods and services trade, refine measures based on timely analysis, and strengthen enterprise-level support to maintain external trade momentum. Investment: emphasis on accelerating project delivery, bolstering market confidence, ensuring concentrated land supply for major projects, seeking policy funding, stabilizing industrial investment, and advancing high-quality urban renewal while leveraging the six networks to lift infrastructure investment capacity. Consumption: measures to unlock demand by improving the consumption environment, introducing distinctive consumer offerings, adjusting consumption-support policies, and expanding/upgrading goods, services and inbound consumption.