July 15, Tuesday

High-Level Insights: 
The People's Bank of China released data showing that in the first half of this year, China's social financing scale increased by 22.83 trillion yuan, up 4.74 trillion yuan from the same period last year. 
The General Administration of Customs reported that, in RMB terms, China's total goods trade import and export value reached a record high of 21.79 trillion yuan for the same period, up 2.9% year-on-year.

Overall Sentiment: 
A highlight of June's financial data is the narrowing of the M1-M2 scissor gap. At the start of the year, it was as high as 8.7%, but by June, it had shrunk to 3.7%. This reduction suggests that money previously idle in banks is starting to flow into economic activities, a positive signal. However, since the composition of M1 was adjusted in January, this change cannot be entirely attributed to economic activity. The financial data, released after market close, exceeded expectations.