CPCA preliminary: Jun 1-30 China passenger new energy vehicle (NEV) retail 1.037 mln, down 7% YoY, up 9% vs May; YTD retail Jan–Jun 4.734 mln, down 13% YoY. Jun 1-30 NEV wholesale 1.506 mln, up 22% YoY, up 11% vs May; YTD wholesale 6.812 mln, up 6% YoY.

July 2 — Chinese A-share technology stocks plunged, led by semiconductors, compute hardware and storage-chip sectors. ChiNext and the STAR Market Composite fell 5.71% and 5.64% respectively. The move followed market reports that Meta is offering compute capacity externally, which investors interpreted as evidence of compute oversupply. Multiple industry sources said that reading is mistaken: Meta’s sale does not signal an end to AI capex but reflects the maturation and commercialization of AI infrastructure business models.

Canadian Prime Minister Carney said Ottawa and British Columbia have agreed to maintain the federal Northern Coast tanker ban. The federal government will accelerate development of new liquefied natural gas projects, targeting a threefold increase in LNG production within the next decade.