瑞银集团：若正在进行的议会程序最终确认该结果，那么联邦院今日作出的决议将导致瑞士资本要求进一步过度收紧。

State Taxation Administration invoice data showed cultural services sales revenue rose 5.3% YoY in August as summer travel lifted services consumption. Northeast China, Inner Mongolia and the Qinghai‑Gansu region recorded services consumption gains of 5.2%, 8.4% and 30.6% YoY, respectively. Cultural tourism drove the increase, while offline entertainment performances pushed arts creation and performance services revenue up 31.4% YoY.

Galaxy Securities says August saw a post-season production and consumption rebound: China domestic passenger-car sales rose MoM, exports stabilised at high levels and YoY growth remained strong. New energy vehicles (NEVs) continued to underpin export growth; commercial-vehicle domestic demand was steady, NEV penetration climbed to near 50%, and strong truck export growth kept commercial-vehicle exports buoyant. Looking ahead, the market is entering a seasonal consumption peak around "Golden September, Silver October" into year-end; NEVs are expected to remain the main driver of domestic recovery and elevated export growth, with vehicle sales likely to increase MoM and support industry operating improvement in September and Q4.