Fixed Income Daily Market Update China Policy: RRR cut as continuous effort to restore confidence Biweekly Wrap: Expecting Chinese Baijiu Subsector To Further Recover As Peak Season Is Approaching, "Outperform" Key takeaways from YUMC 2023 Investor Day China Property Sector: NBS Aug data in-line, expect better recovery in SepOct but sustainability is uncertain Global SPE 2Q23 Wrap: China demand remains resilient; Awaiting upcycle after 2023 slowdown Meaningful improvement provides the foundation for future development CMBI Research Focus List: Our best high conviction ideas The Company Signed a Capital Injection Agreement with FIIF to Accelerate the Development of Die-Casting Business China Taking Power Market Liberalisation Further by Introducing the First Unified Framework for the Design of Spot Power Markets