CCB Will Fully Support Expansion of Domestic Demand, Enhance Mortgage Coverage and Service Standards
AASTOCKS News·- China Construction Bank President Zhang Yi announced that the bank will fully support domestic demand expansion, industrial upgrading, and private micro-enterprises. - The bank plans to enhance mortgage coverage and service standards, strengthen cross-border comprehensive services, and align loan growth with monetary policy guidance. - Looking toward the second half of 2026, the institution remains confident in China's long-term economic fundamentals while maintaining strategic focus and balancing assets and liabilities.Shanghai Composite Opens Down 2pts; Chinese Banks Soft; YUSHU TECHNOLOGY Slumps Nearly 5%
AASTOCKS News·- The PBOC conducted RMB 340 billion of 7-day reverse repo operations, leading to a net injection of RMB 340 billion as the RMB central parity rate against the USD was set at 6.7841. - The three major A-share indices opened mixed, with the Shanghai Composite Index down 2 pts at 3,902, the Shenzhen Component Index up 23 pts at 14,118, and the ChiNext Index up 4 pts at 3,550. - Chinese bank and insurer stocks generally opened soft, while major tech, chip, and optical module stocks experienced varied trading performances alongside YUSHU TECHNOLOGY slumping nearly 5%.