Bonds Steady as Issuance Quickens China's 30-year Treasury ETF (Bosera, 511130) edged up 0.27% to 108.67 yuan on August 10, 2026, as investors responded to accelerating ultra-long government bond issuance and the PBOC's stated commitment to a moderately loose monetary stance. Over the preceding week (through August 7), the ETF gained 0.52%, reflecting sustained demand for long-duration sovereign paper despite an active supply calendar. Trading Liquidity The ETF is one of China'

Another Round of Easing Beijing further relaxed home purchase restrictions for non-local households on August 8, 2026, cutting the required social insurance or individual income tax holding period for buying homes within the city's Fifth Ring Road from the prior requirement down to one consecutive year as of the purchase date. Separately, parents gifting commercial residential property to their adult children will no longer have their children's purchase qualification checked — removing a

Third 2026 Tranche The Ministry of Finance completed the third ultra-long special bond issuance of 2026 on August 5, placing another 730 billion yuan in 30-year fixed-rate bonds at a coupon of 2.23%. The bond carries the same rate as prior 2026 tranches, reflecting stable market demand and low long-end borrowing costs. Year-to-date ultra-long special bond issuance through this tranche totals approximately 250 billion yuan. Fiscal Muscle Ultra-long special bonds are a core fiscal inst

A New Offshore Yuan Venue Chinese authorities are set to issue 6 billion yuan in government sovereign bonds in Macau in August 2026, expanding the offshore yuan bond market and reinforcing Hong Kong and Macau's complementary roles as gateways for yuan-denominated financial activity. The 30-year Chinese government bond ETF (Bosera, 511130) rose 0.27% to 108.67 yuan on August 10, reflecting continued investor interest in long-duration Chinese sovereign paper. Market Depth The ETF has r

Reserves Stable Despite Yuan Pressure China's foreign exchange reserves stood at $3.4188 trillion at the end of July 2026, the People's Bank of China reported on August 8, up a modest $250 million from the prior month. Gold reserves extended their consecutive monthly accumulation to 21 months, reaching 76.08 million ounces — an increase of 640,000 ounces over the streak. The Gold Accumulation Story The PBOC has added gold reserves for 21 straight months

July Inflation Data from the National Bureau of Statistics China's consumer price index rose 0.5% year-on-year in July 2026, down from 1.0% in June, as energy prices moderated and food costs exerted continued drag. Core CPI (excluding food and energy) edged up 0.9% year-on-year. The PPI gained 3.5%, falling 0.6 percentage points from June's 4.1% reading as factory-gate prices softened on a month-on-month basis. Services Buck the Trend Services prices

Divergent Close on August 11 China's A-share market showed a pronounced divergence on August 11, 2026. The Shanghai Composite rose 0.67% to close at 3,940, while the Shenzhen Component edged up just 0.04% and the ChiNext fell 0.73%. Total market turnover reached approximately 2.54 trillion yuan — substantial but below the peak volumes seen during the preceding three-week rally that pushed the Shanghai Composite above 3,900. Sector Rotation Underway Financials and coal stocks

August Momentum in China's Tech Hub Shenzhen's property market posted its strongest weekly performance in months during the first week of August 2026. Secondary home signings rose 13% week-on-week, while new home subscriptions climbed 14%, according to Shenzhen Bay Research Institute data reported on August 10. Daily secondary signing volumes hit a peak not seen since June 2026, and August's daily average new home subscription rate is running 40% above July's level.

A 254-Round Battle for Prime Haidian Land 中海新城 (Zhonghai New City) won a landmark residential land parcel in Beijing's Haidian district on August 10, 2026, paying 4.6814 billion yuan after a fierce 254-round bidding war — six online rounds followed by 248 offline rounds. The floor price of 81,063 yuan per square metre is the highest for any residential plot sold in Beijing so far in 2026, with a premium of 25.84% over the starting ask.

Record Onshore Deal China CITIC Bank completed the issuance of a 200-billion-yuan green financial bond on August 10, 2026, after book building on August 6. The three-year fixed-rate bond carries a coupon of 1.53%, making it the largest green bond issued by a Chinese commercial bank in 2026 to date. Proceeds are designated for green industry projects as defined under China's updated Green Finance Support Project Catalogue (2025 Edition), covering renewable energy, clean transportation, and

A weak week with a late bounce The CSI REITs Total Return Index fell 1.64% in the week of August 3 to 7, 2026, extending a correction that has run through much of the summer. Of the 87 listed public REITs in China, only 13 rose over the week; more than 80% declined, with the worst performer down 11.51%. The market did find a floor on Friday. The index rose 0.56% on August 7 to close at

Leverage climbs with the rally Outstanding margin financing on China's two main stock exchanges reached 2,614.262 billion yuan as of August 7, 2026, an increase of 6.992 billion yuan from the previous session, according to exchange data reported on August 10. The Shanghai Stock Exchange accounted for 1,344.618 billion yuan, up 4.341 billion yuan on the day, while the Shenzhen Stock Exchange stood at 1,269.644 billion yuan, up 2.651

A heavy August calendar China's three largest tier-one land markets will bring 17 residential-use plots to auction in August 2026 with a combined starting price of more than 55.1 billion yuan, according to the monthly land supply calendar published on August 5. The volume signals that municipal governments are moving to capture demand while developer appetite for core-city land remains intact. Beijing accounts for seven residential plots with a total starting price of 21.67 billion yuan,

A sharp monthly reversal Total financing raised by Chinese property developers fell 45.8% month on month in July 2026, and the cumulative total for the year to date was 30.5% below the same period of 2025, according to a monthly corporate report published on August 5 by the Purui Digital Intelligence research centre. The drop interrupts what had been a gradually improving funding picture through the first half. The monthly figures sit awkwardly beside the first-half data. China

Fiscal firepower for the built environment China has allocated 97 billion yuan of central budget investment and 160 billion yuan of ultra-long-term special treasury bonds to urban renewal in 2026, and will allow local government special bonds to fund qualifying urban renewal projects, including as project capital, according to industry research published in early August. Permitting special bond proceeds to serve as capital rather than only as debt financing materially raises the leverage e