
The Shanghai Composite edged up 0.2% to 3,896 on Wednesday, while the Shenzhen Component rose 0.4% to 13,795, as investors eagerly awaited developments from the ongoing National People’s Congress Standing Committee meeting. The August 25–28 session is being closely watched for policy support following weak economic data and repeated pledges from policymakers to bolster growth. Meanwhile, China Merchants Bank is issuing a three-year floating-rate note linked to the overnight bond repurchase rate, becoming the first domestic commercial lender to do so. Earlier this month, the Export-Import Bank of China became the first policy bank to issue debt tied to the same benchmark. The shift reflects the PBOC’s efforts to elevate the overnight repo rate as the primary anchor for short-term funding costs, bringing the policy framework closer to international standards. Notable gainers included BYD (1%), Victory Giant Technology (1.9%), and Wus Printed Circuit (3.9%).





