Since 2022, US officials have imposed sweeping controls on which computing chips can be exported to China, cutting off some sales from Nvidia, Advanced Micro Devices and Intel, among others. Those controls followed earlier bans on shipping chips to Huawei Technologies.
Oil prices surged at the week s beginning after the USA announced to begin refuelling its strategic crude oil reserve. China s plan to revive consumption after leaving COVID zero policy also had an impact
Growth in July retail sales softened to 8.5% over a year earlier, below the consensus forecast of 10.9% and down from the previous month s 12.1%. Factory output grew 6.4%, below the forecast of 7.9%.