China’s State Council executive meeting on July 31 approved four nuclear projects — reopening approvals for new domestic nuclear builds in 2026. Approved plants: Zhejiang Jinqimen Phase II (units 3–4), Guangdong Taipingling Phase III (units 5–6), Liaoning Zhuanghe Phase I (units 1–2) and Shandong Laiyang Phase I (units 1–2), totaling eight reactors. Estimated combined investment exceeds 170 billion yuan.

U.S. officials said Iran tried to persuade Hamas to prevent reaching an agreement, but U.S. efforts successfully overcame that obstacle.

Zhaolian chief economist Dong Ximiao expects RRR and interest-rate cuts in Q3. If H2 economic recovery momentum weakens, the policy rate could be trimmed 10-20 bps; but with commercial banks’ net interest margins near 1.40%—a historic low—LPR has limited downside, likely 5-10 bps. On RRR, to accommodate concentrated fiscal bond issuance and keep banking-system liquidity reasonably ample, there is 25-50 bps of cut space this year; implementation could be timed to bond-supply peaks or liquidity-tight episodes. The PBOC will rely more on structural monetary tools, step up timely liquidity management, and expand targeted support for tech innovation, consumption and small- and micro-enterprises.