PRE-MARKET CHINESE STOCKS NEWS: SHEIN (625 HK) will join the Hang Seng Composite Index and several sub-indexes, effective September 15th

Haier Smart Home (6690 HK) - Co. announced an offer to buy back up to 81mln D-shares at EUR 1.87/shr. (Newswires) Road King Infrastructure (1098 HK) - Co.’s BVI winding-up hearing is scheduled for March 2027, while its restructuring is expected to be completed by year-end. (Newswires) SHEIN (625 HK) - Co. will join the Hang Seng Composite Index and several sub-indexes, effective September 15th. (Newswires) Yutong Bus (600066 CN) - Co. reported August vehicle sales of 3.75k units (prev. 4.26k Y/Y) and production of 3.68k units (prev. 4.17k Y/Y). (Newswires) Other News PBoC Governor Pan, at the G20, said China would not deliberately pursue a trade surplus and would expand domestic demand while maintaining high-level opening. He added that China’s economy remained broadly stable, with long-term growth fundamentals intact, and that China would prioritise structural upgrading under the 15th Five-Year Plan and provide more market opportunities to support global economic rebalancing. Pan said the PBoC would continue reforming its monetary policy framework and refining the interest-rate system, while monetary policy would remain appropriately accommodative to support stable growth and financial-market stability. China proposed consolidating three local levies into a single "local surtax" with an 11-13% rate set by provincial governments, CCTV reported. The existing taxes generated CNY 913.4bln in 2025, while public feedback is open until 27th September, and experts said the reform targets tax-burden neutrality, with the current combined average burden at about 11.6%. US President Trump said he had very productive things to discuss with Chinese President Xi, adding it will be “very exciting and great”; said Canada had been ripping the US off for decades and was tougher to deal with than China or Vietnam, while also saying the US had a good relationship with Brazil. US Treasury Secretary Bessent said China engages in financial repression on its savers, Chinese products are heavily subsidised, and he is working to reduce the US budget deficit-to-GDP ratio.