Shanghai and Shenzhen bourses traded CN¥2.03 trillion on Sept. 4, up CN¥271.75 bln from the prior session. Shanghai turnover was CN¥938.26 bln (previous CN¥819.88 bln), volume 537 mln lots (prev. 497 mln). Shenzhen turnover was CN¥1,092.41 bln (previous CN¥939.03 bln), volume 678 mln lots (prev. 585 mln). Zhongji Xuchuang led single-stock turnover at CN¥17.38 bln, followed by Langchao Information CN¥13.71 bln, China Shipbuilding CN¥12.39 bln, Xinyisheng CN¥11.72 bln and Zhaoyi Innovation CN¥11.3

China's State Taxation Administration said its latest tax data show tax authorities have implemented targeted tax and fee relief measures supporting urban renewal, resulting in cumulative tax cuts, fee reductions and refunds of 487 bln yuan in 1H.

Wu Xiaoying, consulting services lead partner at Ernst & Young Greater China, says new contract wins and backlog at CROs have both shown clear improvement. Some preclinical CROs posted high YoY growth in H1 new orders; clinical CROs are seeing a recovery in new project volumes and new‑win pricing, indicating a demand rebound. She said if innovative drug R&D spending remains as active as now, this year could see the CRO industry move from order repair toward profitability repair, though recovery timing will differ across business lines. Wu added AI will widen gaps between CROs: by speeding candidate generation and screening in discovery, AI raises the value of faster, higher‑quality experimental validation—firms that rapidly weed out false leads and advance truly promising molecules will be more likely to secure high‑value projects.