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Uncertainties about mainland China's economy and leadership have led global investors to shun China equities but things are not as bad as some imagine, analysts said, adding that the central government still had a lot of ammunition at its disposal.

Deals settled in yuan hit a new high in July, helped by a surge in usage among Asian economies.

The mainland's leading private shipyards are gasping while watching their smaller rivals collapse one after another in an industry where state firms are increasingly raising the stakes.