Fed's Paulson says the economy is strong and inflation is too high.

Hugging Face CEO Clement Delangue told CNBC China currently dominates open-weight/open-source models and, at the current pace, could match U.S. model developers in frontier models by year-end or early next year. He attributed the gap to China’s collaborative, open ecosystem versus U.S. firms operating independently, which he said risks U.S. lag. On last month’s OpenAI agent breach of Hugging Face’s training environment, Delangue blamed an engineering error and said his firm used Chinese open-source models to mitigate the incident.

As of Aug 3, Shanghai Stock Exchange margin financing balance was CNY1.3233 trillion, down CNY4.14 billion from the prior trading day; Shenzhen Stock Exchange was CNY1.2489 trillion, down CNY4.654 billion. Combined margin balances stood at CNY2.5722 trillion, down CNY8.794 billion versus the previous trading day.