Commercial deployment of NPOs is expected to accelerate, as Huawei has launched the industry's first multi-source protocol, with participation from several A-share listed companies.

① Recently, Huawei, together with China Mobile Research Institute, JD Cloud, Baidu, China Electronics Standardization Institute, and over 20 other industry partners, jointly launched the OPEN NPO initiative; ② NPO stands for Near-Packaged Optics, an interim solution positioned between traditional pluggable optical modules and CPO; ③ Zheshang Securities noted that pluggable optics, NPO, and CPO are expected to coexist in the long term, with CPO likely representing the long-term evolutionary direction.

cls.cnJul 10 09:06

Another minor surge? Repurchase and shareholding-backed loan volumes have risen for three consecutive quarters, with credit lines expanding each quarter—banks say their willingness to lend remains strong.

① Recently, many investors have been actively inquiring about listed companies’ plans regarding share repurchases and增持. ② Banks continue to show strong willingness to extend credit for this business, which is considered a high-quality lending activity with low risk and policy support. ③ Since 2026, loan disbursements for share repurchase and增持 programs have increased sequentially for two consecutive quarters, with approved credit lines also expanding. Counting from Q4 of last year, approved credit amounts have already grown for three consecutive quarters and continue to expand.

cls.cnJul 9 16:54

Express News | The National Development and Reform Commission (NDRC) Outlines Five Key Strategic Priorities for China's Artificial Intelligence Industry During the '15th Five-Year Plan' Period, Emphasizing Critical Technological Breakthroughs in Models, Computing Power,

BreakingsJul 7 12:01

Annualized rate of 1.6%: Large-denomination certificates of deposit with five-year terms from major state-owned banks reappear—what signal does this send? Industry insiders: unlikely to become mainstream.

① The large-denomination certificates of deposit (CDs) issued by Bank of China mark the return of five-year large-denomination CDs from major state-owned banks to the market; ② Constrained by net interest margin pressures, banks generally prefer to limit large-denomination CDs and long-term time deposits—particularly larger banks, which currently 'do not lack liabilities'; ③ Given the current interest rate environment, long-term large-denomination CDs will not become mainstream across the industry.

cls.cnJul 2 17:38

July Hong Kong Stock Dividend Ex-Dividend Calendar: A Comprehensive Review of 10 High-Yield Stocks, with the Highest Paying HK$520 per Lot

Below is a list of 10 key dividend-paying stocks scheduled for July (with a total market capitalization exceeding HK$10 billion, ranked by Futu’s trailing twelve-month dividend yield among Hong Kong-listed stocks; some companies have paid multiple dividends this year, as of June 29, 2026).

Futu NewsJul 1 19:32

In the first half of the year, 103 village and township banks were approved for dissolution, and some nationwide banks accelerated the conversion of village branches into sub-branches.

① From January 1 to June 30 this year, local regulators cumulatively issued announcements approving the dissolution of 103 village banks—a pace exceeding that of the same period last year. ② In the first half of this year, local regulators have intensified efforts to guide institutions under their jurisdiction in advancing the conversion of village banks into branch offices (“village-to-branch” reform). The number of village banks disappearing is expected to remain elevated in the second half of the year. ③ Several nationwide commercial banks are currently pursuing the complete elimination of their village bank subsidiaries.

cls.cnJul 1 17:25