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On August 21st, banks issued clear responses regarding the consequences for borrowers who misappropriated interest subsidy funds. Many banks stated that they will apply for loan interest subsidies in accordance with market-oriented and rule-of-law principles. They will strictly prohibit the provision of false qualifications, documents, guarantees, transactions, or purposes, or the use of illegal intermediaries, including "packaged loans," "professional debt defaulters," and "high-assessment, high-loan" schemes. "For borrowers whose credit information fails to pass review by relevant departments or who misappropriated interest subsidy funds in violation of laws and regulations, banks will deduct or recover the funds in accordance with regulations." Several banks also stated that borrowers found to have misappropriated interest subsidy funds in violation of laws and regulations will also have their personal credit records included.Autohome (09690.HK) announced on the Hong Kong Stock Exchange that its revenue in the first half of the year was 7.88 billion yuan, a year-on-year increase of 10.5%; its net profit in the first half of the year was 410 million yuan, a year-on-year increase of 14.6%.MINISO (09896.HK): Adjusted net profit in the first half of 2025 was RMB 1,278.7 million (US$178.5 million), compared with RMB 1,241.9 million in the same period last year.MINISO (09896.HK): Revenue in the first half of 2025 increased by 21.1% year-on-year to RMB 9.393 billion (US$1.311 billion).August 21st, a survey showed on Thursday. British businesses had their strongest month in a year, driven by a rebound in the services sector. The preliminary S&P Global UK Composite PMI for August rose to 53.0, the highest since August last year, while market expectations only predicted a slight increase to 51.6. Chris Williamson, chief business economist at S&P Global Market Intelligence, said that after a sluggish spring, the pace of economic growth accelerated in the summer. "However, survey results from order books show that the demand environment remains uneven and fragile. Businesses reported that they are concerned about the impact of recent government policy changes and are also uneasy about broader geopolitical uncertainties." The services PMI rose to 53.6, but the manufacturing PMI fell to 47.3, further below the 50 growth threshold and hitting a three-month low as factories were hit by the global trade war led by Trump. Further complicating the Bank of Englands situation is that service industry companies raised prices at the fastest rate in three months.
