PRE-MARKET CHINESE STOCKS NEWS: Chinese activity data disappointed, while China announced measures to boost consumption in lower-tier cities and counties

China CITIC Financial Asset Management (2799 HK) - Co. nominated He Jingsong as chairman. Sinopec Yizheng (1033 HK) - Co. H1 (CNY) net 510mln (prev. 492mln Y/Y), rev. 37.7bln (prev. 37.1bln Y/Y). Cowell e Holdings (1415 HK) - Co. H1 (USD) net 89.9mln (prev. 67.4mln Y/Y), rev. 1.60bln (prev. 1.36bln Y/Y). Chow Sang Sang Holdings (116 HK) - Co. prelim. H1 (HKD) net 2.10-2.20bln (prev. 910mln Y/Y). Geely Automobile (175 HK) - Co. Chairman Li Shufu resigned and An Conghui was named as new chairman, effective immediately. Guotai Junan International (1788 HK) - Co. H1 (HKD) net rose 22.7% Y/Y to 675mln, rev. rose 36.7% Y/Y to 3.87bln. Kweichow Moutai (600519 CH) - China’s state-backed funds are pulling out of the Co., adding to pressure on the baijiu maker whose shares have lost more than 40% from their peak five years ago. (SCMP) Shenzhen Investment (604 HK) - Co. prelim. H1 (HKD) net loss 1.90-2.10bln (prev. loss 2.62bln Y/Y). Other News Chinese leader Xi Jinping will skip the UN ahead of the Trump summit. (Politico) China’s Cabinet meeting said it should strive to achieve the economic development goal for this year, while it added that the problem of insufficient domestic demand remains pronounced. (Newswires) China’s Ministry of Commerce and eight other ministries issued guidance aimed at boosting consumption in lower-tier cities and counties, with fiscal support a key focus. Measures include upgrading retail channels, encouraging new consumption formats, improving local service efficiency and expanding eldercare, childcare, education, healthcare and sports facilities, while eligible personal consumer loans and loans to service-sector operators may receive fiscal interest subsidies. (Newswires) China's NDRC is reportedly accelerating the rollout of new policy-based financing tools and increasing support for private investment projects. (Newswires) China's NBS said the external environment remains complex, while China is to continue expanding domestic demand and it noted some firms face operating difficulties. (Newswires) Data Recap Chinese Industrial Production (Jul YY) 4.5% vs. Exp. 5.0% (Prev. 5.3%) Chinese Retail Sales (Jul YY) 0.6% vs. Exp. 1.5% (Prev. 1.0%) Chinese Fixed Asset Investment (YTD) (Jul YY) -6.7% vs. Exp. -6.2% (Prev. -5.7%) Chinese Unemployment Rate (Jul) 5.2% vs. Exp. 5.1% (Prev. 5.0%) Chinese House Price Index (Jul YY) -3.2% (Prev. -3.3%)