Chinese banks extended 2.81 trillion yuan new yuan loans in June, according to data released by the People’s Bank of China (PBOC), compared to 1.88 trillion yuan in the previous month and expected 2.4 trillion yuan.
China’s steel, iron ore and other steel-making commodities tumbled on Monday on expectation of weak demand.
China’s power battery output reached 41.3 GWh in June, soaring 171.7% from a year earlier and an increase of 16.1% from the previous month, according to data released by the China Automotive Power Battery Industry Innovation Alliance.
Daimler Greater China, a subsidiary of Mercedes-Benz, signed a memorandum of cooperation with Tencent’s smart mobility division to develop high-level autonomous driving.
China’s top meteorological authority issued a high-temperature warning as heat waves of up to 40 C is expected to hit 11 provinces and regions across the country in coming days.
Shares of Chinese hog farmers continue to rally driven by rising hog and pork prices, with Zhejiang Huatong Meat Products, surging 8.5%, Dongrui Food up 7.3%, Muyuan Food up 3.3% and Wends Foodstuff up 2.8%.
China’s financial hub of Shanghai has discovered a COVID-19 case involving a new subvariant Omicron BA.5.2.1, a local government official said at a news briefing.
Shares of Chinese tourism companies, catering firms, airlines and airport operators are sliding after several Chinese regions tightened Covid control measures to contain a new round of resurgence.
Hong Kong stocks open lower on Monday, with the benchmark Hang Seng Index down 1.17%, the Hang Seng China Enterprises Index down 1.11% and the Hang Seng Tech Index down 1.49%.
