Pre-market 20260731: Politburo Meeting Opens Up Incremental Policy Expectations; Overseas AI Hardware Rebounds Sharply but Divergence Is Not Over

English summary

### Pre-market 20260731: Politburo Meeting Opens Up Incremental Policy Expectations; Overseas AI Hardware Rebounds Sharply but Divergence Is Not Over Time: 2026-07-31 09:00:57 Content: Part 1: Main theme cards Theme 1: Politburo meeting / incremental policies / capital market reform / anti-involution ① Event logic Today's highest-level policy anchor is the July 30 Politburo meeting. The meeting decided to hold the Fifth Plenary Session of the 20th Central Committee in October, while emphasizing deepening comprehensive reform of capital market investment and financing, enhancing capital market resilience and confidence; promptly planning and introducing practical incremental policies, increasing countercyclical adjustment intensity, intensifying efforts to expand domestic demand and optimize supply; and continuing to comprehensively rectify "involution-style" competition and promote the construction of a unified national market. Public reports also mentioned that the meeting required stabilizing the real estate market, implementing debt resolution plans, advancing the reform and risk resolution of local small and medium financial institutions, and deepening comprehensive reform of capital market investment and financing. This line is the "general foundation" for all themes today.…