China Securities Express: Central Bank Releases Second Quarter Monetary Policy Implementation Report

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โดย 中国证券报·

Summary · why it matters

The central bank released China's monetary policy implementation report for the second quarter of 2026, stating that it will continue to implement a moderately loose monetary policy, promptly plan and introduce practical and effective incremental policies, and strengthen countercyclical adjustments. Counterpoint data shows that in the second quarter of 2026, by shipment volume in the NAND flash market, Samsung, SK Hynix, and Yangtze Memory Technologies held shares of 25 percent, 22 percent, and 14 percent respectively, marking the first time Yangtze Memory Technologies has entered the top three. The China Association of Automobile Manufacturers released data showing that in July, automobile production and sales reached 2.573 million and 2.584 million units respectively, down 6.8 percent and 8 percent month on month, and down 0.7 percent and 0.3 percent year on year. From January to July, automobile production and sales reached 17.567 million and 17.602 million units respectively, both down 3.7 percent year on year, with the decline further narrowing compared with the first half of the year. The China Academy of Information and Communications Technology released the eSIM Industry Development Research Report 2026, showing that as of the first quarter of 2026, the global cumulative number of eSIM connections has exceeded 1.3 billion, and the global eSIM industry is gradually moving from early pilot programs into a phase of large-scale deployment. After the release of US July CPI data, prediction market Polymarket data shows that the probability of a Federal Reserve rate hike in September has fallen to 32 percent, the lowest level in nearly a month. On the corporate front, the project led by China Aluminum International Engineering Corporation's Changsha Nonferrous Metallurgy Design and Research Institute, titled Research, Development and Application of High-Efficiency Lithium Extraction Technology and Equipment from Lepidolite, successfully overcame major technical challenges such as equipment corrosion, rotary kiln ring formation, and low recovery rates, achieving large-scale industrial production. Yoozoo Games has reached cooperation with Kangying Semiconductor and Sunrise to enter the advanced packaging sector. A subsidiary of Haining Leather City plans to acquire equity stakes in 38 photovoltaic companies for 226 million yuan. Shuobeide plans to raise no more than 1.096 billion yuan through a private placement for server cooling module projects and other purposes. On August 12, main capital net inflows in the Shanghai and Shenzhen markets totaled 24.717 billion yuan. The top three sectors for main capital net inflows were communication equipment, semiconductors, and components, with net inflows of 13.094 billion yuan, 5.45 billion yuan, and 2.784 billion yuan respectively. The top three individual stocks for main capital net inflows were Changxin Technology, Zhongji Innolight, and Eoptolink Technology, with net inflows of 3.603 billion yuan, 2.596 billion yuan, and 1.966 billion yuan respectively.