July 27: CXMT debuts on the STAR Market
Domestic DRAM leader ChangXin Memory Technologies (CXMT) will officially list on the Shanghai Stock Exchange’s STAR Market. Raising roughly 57.9 billion yuan ($8.6 billion) at 8.66 yuan a share, it will become the largest IPO in the board’s history, valuing the company at approximately 580 billion yuan.
July 28-29: U.S. Federal Reserve holds interest-rate meeting
The U.S. Federal Reserve will hold its latest interest-rate meeting. Following unexpectedly cool U.S. inflation data in June, traders expect the probability of a 25-basis-point rate hike at this meeting to have dropped from about 50% to roughly 15%.
July 30: Zhongji Innolight lists in Hong Kong
Domestic optical-module giant Zhongji Innolight Co. Ltd. plans to list its shares in Hong Kong. Offering 54.5 million H-shares to raise up to HK$55 billion ($7.1 billion), the listing could be the city’s largest IPO this year.
July 31: National drug-procurement bidding opens
The 12th batch of the national centralized drug-procurement program will begin bidding for 65 types of medicines covering oncology, cardiovascular and other fields. To prevent excessive competition, the procurement rules have added a mechanism giving companies a second chance, which will now apply to original drugs.
Aug. 1: Power grid transmission pricing rules take effect
The National Development and Reform Commission’s notification on provincial and regional power-grid transmission pricing for the fourth regulatory cycle will take effect. The rules set prices for a three-year period, affecting a core component of commercial and industrial electricity costs.
Aug. 1: Panda bond rating rules set to be implemented
A notice issued by the National Association of Financial Market Institutional Investors on standardizing panda-bond credit ratings will take effect. The association will no longer accept credit rating reports for panda bond registrations from agencies that fail to publish their rating-mapping relationships.
Aug. 1: Loan cost disclosure rules begin
The National Financial Regulatory Administration and the People’s Bank of China will implement new regulations requiring lenders to clearly display comprehensive financing costs for personal loans. The rules aim to ensure the effective implementation of interest-and-fee disclosure requirements.
Aug. 1: Medical-representative rules take effect
A newly revised management measure for medical representatives will take effect, setting out nine prohibited behaviors. It replaces the previous trial measures from 2020.
Aug. 2: OPEC+ members hold ministerial meeting
OPEC+ will hold a ministerial meeting where seven core oil-producing countries are expected to approve an increase of 188,000 barrels a day in their September crude-production quotas. This would maintain the same monthly production increase seen from June to August.
