MNI China Press Digest July 8: Indexes, EVs, FX Reserves

Highlights from Chinese press reports on Tuesday:

• The Shanghai and Shenzhen stock exchanges will release new indexes to reflect the performance of specialised and innovative enterprises as defined by the Ministry of Industry and Information Technology, and help guide funds to these SMEs, Securities Times reported. The indexes will be released on July 21, the newspaper said.
• Provincial governments need forward planning to address the development goals and construction tasks of high-power charging facilities for electric vehicles, according to a document by the National Development and Reform Commission. Authorities should first transform charging facilities with a utilisation rate exceeding 40% during major holidays into high-power units and aim to have more than 100,000 high-power charging facilities nationwide by the end of 2027, the document said. (Source: 21st Century Business Herald)
• China’s reserve assets accounted for just 33.0% of its external financial assets by the end of Q1 2025, the lowest on record, according to Guan Tao, former senior official at the State Administration of Foreign Exchange (SAFE). Down from an historic high of 71% in Q2 2011, the decline reflects over a decade of two-way financial opening and a rising private-sector role in overseas asset allocation. If this momentum continues, 2025 could mark China’s emergence as a mature net creditor nation. However, policymakers must stay alert to risks from a sharper-than-expected drop in the trade surplus or heightened yuan volatility.