A股白酒股低开高走，舍得酒业涨超6%，金种子酒、迎驾贡酒、金徽酒、皇台酒业、山西汾酒、酒鬼酒等个股跟涨。

German investor sentiment rose to a five-month high in July as markets priced in a growth boost from Chancellor Merz’s reform push, ZEW data showed. The ZEW expectations index jumped to 26.3 from 10.5 in June, well above the 15.3 median analyst forecast; the current-conditions gauge also improved. Mannheim-based Centre for European Economic Research said government growth measures unveiled earlier this month lifted market optimism. ZEW president Achim Wambach said export-oriented sectors are expanding and domestic demand remains resilient, but developments in the Iran conflict and oil-price uncertainty remain key downside risks to the recovery.

The Ministry of Industry and Information Technology said on July 22 it has issued a notice launching a national program to construct national-level zero-carbon factories and zero-carbon compute facilities. The notice defines application and selection criteria: manufacturing enterprises and compute facilities with an existing construction basis, clear construction targets, a defined implementation path and a pledge to meet targets within the prescribed deadline will be preferentially included on the national zero-carbon factory list.