During morning trade on July 28 multiple China broad-market ETFs recorded outsized turnover. E Fund’s ChiNext ETF traded CNY 7.67 bln by midday, above July 27 full-day turnover of CNY 6.74 bln; Southern’s CSI 500 ETF traded CNY 4.96 bln versus CNY 4.52 bln on July 27. Equity ETFs posted net inflows of more than CNY 14.0 bln on July 27, and July-to-date net inflows are roughly CNY 390.0 bln. Huatai‑PineBridge’s CSI 300 ETF AUM returned to CNY 117.25 bln as of July 27, about CNY 23.05 bln ahead of

The Ministry of Industry and Information Technology (MIIT) issued the 2026 edition of its "small, fast, light, precise" digital products and services cultivation guide. The guide directs service providers to align offerings with Chinese SMEs’ digital-transformation needs—innovation, quality improvement, cost reduction, efficiency gains, green transition and security—and to improve supply–demand matching. It will serve as a reference for local SME authorities when selecting and nurturing such products and services. The term "small, fast, light, precise" is defined as miniaturized, rapid, lightweight and precise. The guide requires a demand-driven approach focused on SMEs’ transformation pain points; encourages local tailoring of cultivation standards and a classified/graded support system; calls for stronger policy coordination and resource pooling; and urges acceleration of a multi-party, complementary SME digital transformation service ecosystem.

1、沪深两市7月27日总成交量略微回升至2.08万亿，但仍明显低于20日均线2.79万亿。 2、7月27日衡量A股杠杆水平的融资买入额占A股流动市值之比进一步降至7.87%，逼近年内低点和过去一年波动区间下限。 -------- 注：1、两市成交量反映了各大机构、游资、广大散户对A股看法，高于均线代表总成交量升高，市场情绪偏乐观，低于均线代表总成交量下降，市场情绪降温。 2、2015年以来，A股杠杆水平大部分时候维持在6%-10%，杠杆率超过10%意味着市场活跃度较高，可能接近或者处于牛市。达到15%以上意味着市场有过热风险，需要警惕风险。