China sees over 1.96 mln new A-share accounts in July

More than 1.96 million new A-share trading accounts were registered in China in July, a 71 percent surge year on year and a 19.27 percent increase from June, according to the latest data released by the Shanghai Stock Exchange on Monday.

From January to July, the number of new A-share accounts reached 14.56 million, up more than 30 percent from a year earlier, data showed.

The surge in new account openings is closely related to a recovering stock market and increased trading activity, according to industry insiders.

In July alone, A-share trading volume reached approximately 2.94 trillion shares, with a turnover of around 37.58 trillion yuan (approximately 5.23 trillion U.S. dollars), both setting monthly highs so far this year.

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.