Yuan Hits Three-and-a-Half-Year High as PBOC Releases July Financial Data - Weekend News Roundup

- PBOC releases July financial data: end-July aggregate social financing stock reached 463.27 trillion yuan (up 7.4% YoY), while broad money (M2) stood at 355.51 trillion yuan (up 7.7% YoY), both outpacing nominal GDP growth.

- Yuan hits a three-and-a-half-year high: the USD/CNY central parity has appreciated 6% since April 2025 to 6.79, while the CFETS RMB index rebounded 6.3% to 102.3.

- Guangdong launched the province's first token-economy financial product, the "Token Loan," in Guangzhou's Haizhu District.

- Pinzhun Laser (688826.SH), this year's highest-priced IPO, will list on the STAR Market on August 18.

- China Micro Semicon (688380.SH) reported first-half net profit up 98.48% year on year.

- Centec Networks (688702.SH) signed a major ethernet switching chip sales contract.

- Iran says it has reached an agreement with Oman on the Strait of Hormuz passage plan.

- US stocks closed slightly lower; memory and optical-communication stocks rallied, with SanDisk up 7.39%.