Q2 economic data; China-EU Summit; Beidaihe rumor season starting; Overseas security agency coming?: The "Jinjiang experience" and the 40th anniversary of Reform & Opening; Rural E-commerce

Happy Monday, here are some of the top things I am watching about China today:

• China's Q2 GDP met expectations, unsurprisingly. The debate, leaving out those who think the data are all fake and the economy is on the verge of collapse, now seems to be around the health of those numbers and what policy response may be expected. It sounds like more reserve ratio cuts and increasing fiscal stimulus are likely but I still think it is mistaken to assume the "tough battle" against debt and financial risks will be materially throttled back;

• China filed an additional complaint to the WTO against the threatened tariffs on an additional $200B of PRC goods. Will President Trump find this "insulting" and raise the ante again?;

• There are still no public indications of any renewed, serious discussions between the US and China about resolving the trade differences.

We are less than a month away from the expected Beidaihe meetings and as always in advance of that mysterious conclave the rumors begin to fl…