沙特外交部：伊拉克政府应采取必要措施，确保其领土不被用作发动侵略的起源地。

Guojin Securities says China’s beauty sector is moving to refined, stock-based operations. 618 sales slipped slightly but mix improved; brands are shifting toward repurchase-driven growth and profit orientation. Upgraded categories such as color cosmetics and fragrances are the main sources of incremental demand. Policy now for the first time includes beauty subsidies, with targeted support for leading domestic and high-end efficacy brands. AI-driven, end-to-end cost reduction and efficiency gains are materialising—AI-generated creative and ad-placement/managed-service automation are lifting margins. Channel dynamics: Taobao/Tmall remain the domestic brands’ base, while Douyin is the primary battleground for foreign-capital pushback; domestic names need to deepen moats in efficacy skincare and national-style color cosmetics. Recommended focus: three stock buckets — Q2 earnings recovery, firms with stable high-end brand equity, and mass-market names with clear value-for-money advantages — to capture structural opportunities.

On July 27 the foreign ministry said China-Africa goods trade in 1H reached 1.41 tln yuan, a record for the period, and is likely to climb to a new level this year. The ministry said trade composition continues to improve and African export potential to China is being increasingly unlocked.