Macroeconomics

1. [Foreign Exchange Reserves] Statistics from the State Administration of Foreign Exchange show that as of the end of June 2026, China's foreign exchange reserves stood at $3.4163 trillion, a decrease of $26 billion (or 0.75%) from the end of May.

2. [US ADP Employment] US ADP employment increased by 21,000 last week, compared to a previous figure of 30,750.

Textiles

1. [Cotton Yarn] Recently, Changyi Huachen Textile Group Co., Ltd. signed an agreement for a project in the Aksu Textile Industrial City (Development Zone) in Xinjiang, involving 161,000 spinning spindles and 660 air-jet looms for the production of batik fabrics. Located in Aksu, the project will primarily produce greige batik fabrics, finished dyed fabrics, and the corresponding weaving yarns.

2. [Vinyl Cyanide] On July 8, Sinopec East China Sales Company lowered its listed price for vinyl cyanide by 250 RMB/ton to 9,450 RMB/ton; this price applies uniformly to products from its affiliates, Zhenhai Refining & Chemical and Anqing Petrochemical.

3. [Cotton Fabric] In May 2026, China imported 36 million meters of cotton fabric, down 5.05% month-on-month and up 41.36% year-on-year; exports totaled 541 million meters, down 9.67% month-on-month and 2.27% year-on-year.

4. [Lint Cotton] Turkey's cotton imports in May stood at approximately 97,000 tonnes, a decrease of 21.5% month-on-month (from 123,000 tonnes) and 32.4% year-on-year (from 143,000 tonnes).

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