AI & Cloud in China: Microsoft is reportedly selling OpenAI models via Azure to major Chinese tech firms, with ByteDance alone spending over $1B a year—highlighting how US AI access is being routed through China’s cloud ecosystem. EU Trade Defense: EU leaders in Brussels backed stronger trade tools to counter a surge in Chinese exports and overcapacity, while still calling for “constructive dialogue” with Beijing. Semiconductor Controls: US Commerce Secretary Howard Lutnick raised concerns with ASML that a top chipmaking machine may have reached China in breach of export rules; ASML denies any EUV shipment or EUV-specific components to China. China Tourism Boost: Dragon Boat Festival travel is surging for inbound visitors, with Fliggy reporting 600%+ year-on-year booking growth, as cultural events pull spending. China Finance Markets: Hong Kong will launch offshore Chinese government bond futures on Aug. 3 to help global investors hedge mainland debt risk. Retail & Consumer: China’s first commercial property REITs debuted in Shanghai, raising 20.3B yuan and expanding REIT access beyond infrastructure. Healthcare Business Link: China’s medical imaging AI competition is expanding outreach to Vietnam ahead of a 2026 contest in Guangxi.