At a meeting on Thursday, the Political Bureau of the Central Committee of the Communist Party of China reviewed the country's economic indicators for the first half of 2026 and determined the main priorities for the coming months.
CGTN correspondent Dai Kaiyi spoke with Tian Xuan, Dean of the Guanghua School of Peking University, to analyze the main policy signals announced at the meeting and how they might affect the trajectory of China's economy in the second half of the year.
GIFT Nifty showed positive momentum, rising by 100 points, while most markets in the Asia-Pacific region traded lower. Additionally, the price of Brent crude oil fell by 5%. The Nifty50 index may start trading on a positive note due to statements from US President Donald Trump, which raised hopes for a peace agreement with Iran.
According to data for Monday, August 3, 2026, GIFT Nifty futures were valued at 24,589, representing an increase of 136 points. This occurred after US President Donald Trump announced that negotiations with Tehran would begin on Monday, leading to a drop in oil prices.
In the Asia-Pacific region, most exchanges showed declines. The largest fall was recorded on the KOSPI of South Korea, whose index dropped by more than 4 percent. Japan's Nikkei 225 index traded 1.84 percent lower, and Hong Kong's Hang Seng index fell by 3.9 percent.
Previously, last Friday, the Dow Jones Industrial Average and S&P 500 showed growth of 0.53 percent and 0.7 percent, respectively, while the Nasdaq Composite closed higher by 1 percent.
The drop in oil prices is linked to Trump's statement about an imminent deal in the Strait of Hormuz. August futures were valued at $83.70, indicating a decrease of 4.81 percent. Meanwhile, gold and silver futures rose by 0.21 percent and 1.21 percent, respectively.
In the context of the US market, US stock futures rose on Monday morning after US President Donald Trump announced the start of negotiations with Tehran on Monday, increasing expectations of a potential cessation of hostilities in West Asia. Dow Jones and S&P 500 futures traded 0.50 percent and 0.56 percent higher.
Furthermore, the article includes lists of companies whose first-quarter reports are expected today, as well as information on IPOs. The initial public offering of Anawil Wire & Engineering will open on Monday with the aim of raising 177.81 crore rupees. The second subscription day will be open for the IPOs of G.V. Electricals and Fusion Klassroom Edutech. MV Electrosystems and Juniper Green Energy will enter the final subscription day on Thursday. Dhaval Packaging and Oneindig Technologies will also complete their subscriptions on Thursday. Manipal Health Enterprises will debut on the stock exchanges on Monday, receiving a 5.12 times subscription on the last day.
The Institute for Reducing the Share of the Shadow Economy, Improving Tax and Customs Administration, and Fiscal Analysis at the Ministry of Economy and Finance has proposed changing the current system of heat supply subsidies in Uzbekistan. This initiative was announced on July 30 as part of a fiscal dialogue.
Instead of continuing to compensate tariffs for all consumers, the institute proposes transitioning to a model of targeted social support for households that genuinely need it.
According to data presented in the presentation, the total amount of subsidies for heat supply across the republic will reach 3.8 trillion soums in 2026, with 2.9 trillion soums, or 77% of this amount, allocated to Tashkent.
The current situation shows that the population pays less than 20% of the basic tariff, which is set at 711.6 thousand soums per 1 Gcal, while about 80% of the cost is covered by the state budget. The authors of the proposal point out that centralized heat supply in Tashkent heavily relies on these budgetary compensations, whereas in most other regions, the household directly bears the cost of heating.
One of the significant shortcomings of the current system, according to the institute, is its non-targeted nature, as subsidies are provided regardless of the consumer's income or property status. Furthermore, there are differences in tariffs for legal entities: budgetary organizations pay 952.8 thousand soums per 1 Gcal, while other legal entities pay 342.3 thousand soums.
The institute proposes gradually introducing a social consumption norm. Preferential payment conditions may apply to housing up to 60 square meters per household or 16 square meters per registered resident.
For the area exceeding the established social norm, the basic tariff is proposed, which means a 5.1 times increase in payment for the population compared to the current rate (139,860 soums per Gcal). There are also plans for the gradual transition of second and subsequent residential premises to the basic tariff, with the share of payment increasing from 40% to 100%.
For legal entities, it is proposed to gradually increase the share of the basic tariff application: first from 60% to 80%, and then to a full transition to 100%. In the long term, the institute advocates abandoning tariff subsidies in favor of targeted cash assistance for those in need, which will be distributed through the Unified Social Protection Register.
However, for a significant portion of citizens, the payment procedure may remain unchanged. The presentation showed that 45.4% of apartments in Tashkent are no more than 60 sq. m, and the current payment terms will be maintained for them.
Following reports of a possible fivefold increase in tariffs, the Institute of Fiscal Analysis at the Ministry of Economy and Finance clarified that this proposal represents only an analytical development by staff and is not an official decision, bill, or regulatory document. Current tariffs and payment rules for heat supply remain unchanged.
The institute emphasized that the goal of the initiative is not a general increase in payment but a shift in focus from subsidizing all consumers to providing targeted support to those who need it. The preferential tariff remains within the social norm: 60 sq. m per household or 16 sq. m per person. For a family of four, this norm will be 64 sq. m.
According to the institute's estimates, this approach will not change the payment procedure for 45.4% of apartments in Tashkent with an area of up to 60 sq. m. In the medium term, needy families will receive targeted financial assistance through the Unified Social Protection Register. The study was presented at the 'Fiscal Dialogue' for expert discussion and aims to find fairer methods of distributing budget support.
Previously, in December 2024, Deputy Prime Minister, Minister of Economy and Finance Jamshid Kuchkarov noted that the heat supply problem is more complex than problems with electricity and gas, due to the large difference between the market value of heating and existing tariffs. He also pointed to issues related to the lack of meters and outdated, energy-intensive equipment.
In July 2025, Ilhom Turayev, chairman of 'Issiklik Ta'minoti', stated plans to completely abolish subsidies for heating and hot water in Uzbekistan by 2030, noting that tariffs will be indexed once or twice a year, which will allow for a gradual reduction in the volume of subsidies.
