The Hong Kong Tourism Board said on the 17th it recorded 4.5 million visitor arrivals to Hong Kong in July, up 3% YoY.

The ECB said in a Monday blog that frothy US tech valuations may be vulnerable to a market correction and that limited fiscal and monetary policy space would constrain the ability to cushion any economic shock. Prices could fall even if technologies succeed and corporate profits rise because profit expectations may be overly optimistic; when investor sentiment reverses, losses can outpace what would occur under rational pricing. A US tech downturn would pose a financial‑stability risk for Europe: European household exposure to the seven largest US tech firms is roughly €440bn, with pension funds and insurers holding similar-sized exposures. Given high correlation between European and US markets, European equities would likely be affected.

China's National Energy Administration, after its July monthly renewable-power dispatch video meeting, instructed local energy authorities to fully implement the minimum renewable-consumption share and renewable-power absorption responsibility-weighting measures and to coordinate with MIIT, housing and transport departments to prepare regional absorption implementation plans. Authorities must ensure key energy-intensive sectors meet consumption targets, strengthen monitoring and assessment, and enforce green-consumption responsibilities. The NEA called for accounting of baseline, economic and strategic factors, balancing reasonable project returns with system operating costs, and setting renewable-utilization targets scientifically. It said large interconnections (big-grid absorption) should remain the primary route, while promoting green-power direct links, source‑grid‑load‑storage integration and non-grid consumption to raise renewable absorption. The agency ordered an acceleration of large wind and photovoltaic base projects and the expedited development of offshore wind, centralized onshore wind and PV, concentrated solar power and distributed renewable projects, urging faster preparatory work and earlier construction starts to deliver physical output.