China’s economy expanded 4.3 per cent in the second quarter, the lowest quarterly rate since the early 1990s apart from the Covid‑19 period, and below Beijing’s full‑year target of 4.5—5 per cent. The first quarter had shown 5 per cent growth. Monthly data underscored weakness: retail sales rose only 1 per cent in June, while fixed‑asset investment fell 5.7 per cent year‑on‑year for the first half, compared with a 4.1 per cent decline in the first five months. Industrial production offered a lone bright spot, up 5.3 per cent.

ING’s chief greater China economist Lynn Song described the figures as a “significant deceleration” and a “bleak picture all around,” pointing to a protracted property slump and rising trade tensions with major partners.

Other headlines include chipmaker CXMT seeking a $10bn mainland IPO, South Korea poised for its first rate hike in three years, Ukraine’s third cabinet reshuffle, oil traders warning that the Strait of Hormuz flare‑up has exhausted supply buffers, BYD potentially overtaking Toyota without U.S. market access, the EU forming an emergency task force for possible China trade conflict, Oracle leading a secret “air‑gapped” cloud bid for Japan, Evergrande liquidators pursuing PwC partners personally, and the Pentagon launching a testosterone program for soldiers.