惠誉上调万科企业(02202.HK)长期本外币发行人评级至“CC”。

The PBOC held its H2 2026 work meeting and said it will continue a moderately loose monetary stance. It will use reverse repos, the Medium-term Lending Facility (MLF) and government bond operations to provide short-, medium- and long-term liquidity, keep liquidity ample and guide banks to support effective financing demand from the real economy. The central bank will refine short-end rate control, add overnight reverse-repo instruments, narrow the temporary overnight repo rate corridor, and strengthen execution and supervision of rate policy, urging financial institutions to disclose loan comprehensive financing costs to keep overall social financing costs low. At end-June outstanding social financing was up 7.4% YoY and M2 rose 8.0% YoY. The PBOC reiterated that market forces will decide the exchange rate and the RMB will be allowed to fluctuate two-way.

The People’s Bank of China held its H2 2026 work meeting, saying resolution of key financial risks is continuing. Financial support for financing-platform debt risk mitigation has produced notable results and financial markets are running well. From a macroprudential perspective authorities will monitor and assess bond-market dynamics and strengthen bond-market supervision and enforcement. The PBOC will deploy two monetary-policy tools that support capital markets to stabilize and strengthen