July 31 — CHINA STATE PLANNER said it will coordinate with other departments to implement more proactive macro policies aimed at stabilizing employment, firms, markets and expectations, and at strengthening the endogenous momentum of economic growth and price recovery. It said authorities will closely monitor price movements in key staples and energy, continue supply-and-price stability measures to ensure overall market supply and stable prices, and protect basic livelihoods.

At midday, Shanghai Composite +0.76%, Shenzhen Composite Index +3.16%, ChiNext +5.04%, Beijing Stock Exchange 50 +3.4%, STAR 50 Index +5.91%. Combined Shanghai/Shenzhen turnover in the first half-day was 1.79 tln yuan, up 332.3 bln yuan vs. the prior session; more than 4,500 stocks advanced. AI-hardware plays led the rally: the memory-chip sector opened strong with several names up over 10%, and robotics and compute-rental stocks pushed higher with multiple limit-ups. C Changxin’s market cap briefly exceeded 4 tln yuan intraday as the share price rose over 14% to 60.49 yuan, a record high. Large-cap financials lagged: Agricultural Bank fell over 4%, with Bank of China, Bank of Ningbo, Bank of Communications and ICBC also weaker; insurers China Pacific Insurance and Ping An dropped more than 2%, followed by PICC and China Life.

Market sources said Ukrainian drones struck a sunflower-seed oil export facility at Russia's Taman port on the Kerch Strait.