China Economy Watch: China’s factory activity contracted for a second straight month in August, with the manufacturing PMI at 49.8 (still below 50) as weak demand and a property slump weigh on sentiment. Air Travel Demand: IATA says global passenger demand rose just 0.2% in July, with North America and the Middle East declining while other regions offset the weakness. Aviation Finance: China’s big three airlines deepened losses in the first half as jet fuel costs surged, even as revenue grew. EV Supply Chain: China’s battery cooling plate market is forecast to jump from $1.89bn (2025) to $9.35bn by 2034, reflecting rising thermal-management needs. AI Chips & IPOs: Tencent-backed Enflame targets about 6.1bn yuan in its Shanghai IPO, as Beijing pushes chip self-sufficiency amid US export controls. US-China Tech & Trade Friction: The US blacklisted chipmaker Phytium over alleged military ties, while the US also faces fresh scrutiny over data-center politics and AI-driven market risks. Cross-Strait Politics: China warned of “consequences” after Taiwan’s foreign minister appeared at Palau’s Pacific Islands Forum opening ceremony. Eurasia Deal-Making: Xi’s SCO summit in Bishkek anchors new China-Kyrgyzstan agreements spanning transport, e-commerce, and border projects, with SCO leaders also focusing on security and trade. G20 Trade Pressure: US Treasury chief Scott Bessent urged G20 members to address “excessive imbalances,” targeting China’s global trade surplus ahead of a Xi-Trump summit. Temu Scrutiny: Temu’s Meta ad push drew fire after research estimated up to $962m spent with a large share of high-volume creators flagged as likely fake. Property Policy: China’s new rules on selling unfinished homes aim to curb risks in presale funding, rattling property stocks.