AGP Executive Report
Last update: 10 hours agoHong Kong IPO Watch: Momenta Global kicked off subscriptions for its Hong Kong listing, with cornerstone and strategic investors including GIC, Fidelity and BlackRock committing about USD376m; the IPO is set for July 7 at HKD295.60 per share, aiming to raise up to HKD5.9bn. AI Race, China Style: Meituan released LongCat-2.0, a claimed 1.6-trillion-parameter AI model trained on home-grown hardware, positioning it as a major step in China’s push to scale frontier AI domestically. Manufacturing Momentum: China’s official manufacturing PMI rose to 50.3 in June, with new orders and production both expanding, pointing to steadier factory activity tied to AI-related exports. Trade Talks in Brussels: The EU and China launched a new three-month dialogue focused on export controls, IP rights and trade-rule changes, with a monitoring setup aimed at preventing fresh “China shock” disruptions. Domestic Market Push: China’s top political advisor Wang Huning urged more practical policy research to help build a stronger domestic market as the 15th Five-Year Plan period gets underway. US Court Fallout: Exiled tycoon Guo Wengui was sentenced to 30 years in a US prison for a fraud scheme that prosecutors said cost more than USD1bn. South China Sea: China’s military and coast guard carried out patrols around Scarborough Shoal, escalating tensions after US-Philippine drills nearby.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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