China Index Academy data show average residential rents in China's first-tier cities have risen MoM for six consecutive months since March. In Shanghai, rents rose across districts in August, led by Jinshan, Minhang, Putuo, Pudong New Area and Xuhui; average residential rent was 84.39 yuan/sq m/month in August, up 0.61% MoM and 1.25% YoY. Shenzhen also posted a sixth straight MoM increase: August average rent 83.05 yuan/sq m/month, up 0.27% MoM but down 0.11% YoY. Districts with MoM gains in She

China's MOFCOM said at a State Council press briefing today it will accelerate digital trade innovation, including establishing national digital trade demonstration zones and promoting institutional reforms to create highly open, innovation‑friendly digital trade hubs. The ministry will roll out measures to strengthen national digital trade export bases and boost exports of digital services — notably telemedicine, online education and cloud‑based office — to cultivate new growth drivers. MOFCOM also plans to expand digital content trade to promote Chinese cultural exports via online literature, games, animation and film, and to nurture outward‑oriented, competitively unique SMEs on a 'specialized, refined, unique, innovative' track while supporting leading digital trade firms to enhance innovation and expand internationally.

Expectations the US may impose tariffs on refined copper and ongoing supply tightness pushed copper to fresh records, with LME copper rising for a fourth straight session to $14,617/tonne. Prices are up about 17% year-to-date as constrained mine output meets stronger demand from data centers, renewable-energy equipment and power grids. Anticipation of tariffs has driven a surge of refined copper into the US, draining LME stocks, triggering severe tightness last month and leaving the futures curve deeply backwardated, signalling physical shortage.