CSRC published an administrative penalty finding that Chen Huan, Zhou Houlu and Li Pingping manipulated the securities market from Feb 20, 2023 to Aug 1, 2024 by controlling multiple third-party securities accounts and using concentrated capital and shareholdings, repeated buy-sell trades and inter-account transactions to affect stock prices and volumes. The regulator fined the three a combined 8.0 mln yuan (Chen and Li 3.0 mln yuan each; Zhou 2.0 mln yuan) and imposed securities-trading bans of

Beijing issued implementation guidance on the national notice to improve the commodity housing sales system, setting transitional pre-sale rules for in-flight projects. First, projects that by Aug. 28, 2026 (inclusive) have obtained (or partially obtained) a construction project planning permit but not a pre-sale permit may apply for pre-sale under existing pre-sale conditions and existing pre-sale funds supervision. Second, projects that by Aug. 28, 2026 have obtained (or are in the process of obtaining) state-owned construction land use rights but lack a construction project planning permit are in principle subject to the new pre-sale management rules for new projects; districts that can guarantee on-time completion may, after filing with municipal authorities and under strengthened pre-sale funds supervision, allow these projects to apply for pre-sale under original pre-sale conditions until end-2027. Third, legacy projects that by Aug. 28, 2026 have obtained state-owned construction land use rights may be handled per in-flight project provisions after district-level risk assessment. The measures aim to ensure a smooth transition for on-going projects.

Fed Governor Barr said he supports last week's 25bp rate increase and that further tightening may be required to ensure inflation returns to the Fed's 2% target in a timely manner. He said risks to achieving the inflation goal have risen and, in his baseline, additional policy adjustments could be necessary. Barr cited a series of shocks over the past 18 months—tariffs, the Middle East conflict, disruptions from Russia's war in Ukraine and a recent surge in investment to support AI infrastructure—as amplifying upward price pressures.