The onshore yuan dropped 0.47% to 6.7950 per dollar on Tuesday, its lowest since May 16, on concern about its recovery from recent Covid lockdowns.

Shares of Longfor, CIFI and Country Garden all jumped by more than 15% in morning trading on Tuesday. The Hang Seng Mainland Properties Index climbed 9.2%.

"It seems like they're saying, 'We think the outlook for China tech is pretty poor so we're going to get in front of that'," said Redex Research analyst Kirk Boodry.

The arrival of a new team of senior US politicians in Taiwan late on Sunday led to China staging more military exercises on Monday near the self-ruled island

A weak economy, Covid disruptions and supply chain challenges hammered the company's sales while increased investment in new technologies was an additional drag.

SMIC got hit with US sanctions three days after he joined the company, and the Chinese government did not trust him due to his Taiwanese-US citizenship, Chiang said.

In July new construction starts by floor area fell by over 45%, the fastest pace since early 2013, while household loans and mortgages plunged from $125bn in June to $18bn in July

Societe Generale said its forecast of 2.7% growth this year ``may still prove too optimistic,’’ with July’s trajectory indicating expansion of less than 2% if policymakers ease too little.

China's financial hub Shanghai is set to reopen all schools, kindergartens and nurseries on September 1, officials said on Sunday

The Yuan Wang 5 is expected to arrive at the island nation's southernmost port, Hambantota, on Tuesday – despite security concerns raised by its neighbour India and the US.

Many private companies in Dongguan have been forced to shut down, lay off staff, or suspend production because zero-Covid restrictions had a severe impact on their operations

The climate law passed by the US aims to localize the manufacturing of EVs but "adds a steep requirement aimed at weeding out 'foreign entities of concern' from supply chains", it says.