PRE-MARKET CHINESE STOCKS NEWS: China is accelerating technology IPOs as part of broader capital market reforms

Alibaba Group (9988 HK) - Ant Group may introduce an AI agent interface for Alipay, according to US financial press reports. (Newswires)

Central China Real Estate (832 HK) - Co. reported May contracted sales of CNY 696mln, up 1.2% Y/Y. (Newswires)

China Resources Land (1109 HK) - Co. reported May contracted sales of CNY 23.5bln, up 28.1% Y/Y. (Newswires)

Geely Automobile (175 HK) - Co. is to reduce excess production capacity as part of an overhaul aimed at strengthening its global competitiveness. (SCMP)

Shenzhen Airport (000089 CH) - Co. reported May passenger throughput of 5.4mln, fell 2.1% Y/Y. (Newswires)

Aluminium - Chinese aluminium producers are seeing rapid growth in overseas orders, driven by stronger downstream demand from the green energy sector. (China Securities Times)

Autos - China set out a plan to scale up new-energy heavy-duty trucks and targets 40% market penetration and a fleet of more than 1.6mln vehicles by 2030.

Property - Chinese cities are increasing support measures for the property sector to reduce home-buying costs. (Chinese press)

Tech

China is accelerating technology IPOs as part of broader capital market reforms. (China Securities Journal)

Anthropic shut down access to its most advanced AI models, including Mythos, following the Trump administration’s sweeping order to keep the technology out of foreign hands. (Newswires)

Abu Dhabi is to tap Chinese tech to scale up its green economy. (SCMP)

Other News

China’s MOFCOM said it firmly opposes the US decision to label additional firms as “military companies”, and accuses the US of using national security as a pretext to curb the development of Chinese firms. (Newswires)

China issued guidelines on classifying and grading financial information data. (Newswires)

China is setting up for a commercial launch of a cross-border digital currency platform that would be backed by the central banks of China, Hong Kong, Thailand, the UAE and Saudi Arabia to reduce reliance on the dollar and to draw Beijing closer to its Belt and Road trading partners. (FT)

Data Recap

• China New Yuan Loans (CNY)(May) 520.0B vs Exp. 450B (Prev. -10B)
• China Aggregate Financing (CNY)(May) 2030B vs Exp. 1870B (Prev. 620B)
• China Money Supply M2 YY (May) 8.6% vs Exp. 8.6% (Exp. 8.6%)
• Hong Kong Industrial Production YY (Q1) 3.1% (Prev. 5.8%)
• Hong Kong PPI YY (Q1) 17.7% (Prev. 9.5%)