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Start Saving Now for September: Your RESP Checklist Before the School Year Hits

  Canadian Money Brief · Family Finance September feels a long way off on July 1. That's exactly why now is the right time to look at your child's RESP — not in late August when the school supply list arrives and the grant math gets rushed. If you have a Registered Education Savings Plan (or you've been meaning to open one), here's what to check right now, and why the calendar year — not the school year — is what actually matters. Why July, Not August The Canada Education Savings Grant (CESG) — the government's 20% match on RESP contributions — runs on the calendar year , not the school year. Grant room for 2026 resets on a January-to-December basis, and it doesn't carry any special "back to school" deadline. But summer is genuinely the best time to check your numbers, for three reasons: You still have six full months left in the year to top up if you're behind. Contributions made now have more time to grow before your child needs the money. You av...
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Chinese Stocks Slump as Economic Woes Outweigh Support Measures

 

The Chinese stock market suffered another blow on Wednesday, as a key index erased all the gains it had made since late January, when authorities pledged more forceful measures to support the market. The CSI 300 Index of mainland shares fell as much as 1.3%, reflecting weak demand and a faltering recovery in the world’s second-largest economy.

The market sentiment was further dampened by a report that showed China’s factory activity contracted for a fourth month in January, adding to the concerns over the impact of the property crisis and the Covid-19 pandemic. The official purchasing managers index, or PMI, rose slightly to 49.2 in January from 49.0 the month before, but remained below the 50-mark that separates expansion from contraction.

Investors were also disappointed by the lack of further details about the stabilization fund that was expected to inject 2 trillion yuan ($278 billion) into the market, as well as the effect of the central bank’s decision to cut banks’ reserve requirement ratio. Some analysts said that the government’s support measures were not enough to address the structural issues and the growth challenges facing the Chinese economy.

“Any minor rally driven by piecemeal news of government support is likely to be met by more selling,” said Vey-Sern Ling, managing director at Union Bancaire Privee in Singapore. "It’s not clear whether China’s structural issues can be resolved and how determined the leadership is in prioritizing growth."

The Chinese stock market has lost more than $6 trillion in market value since a peak reached in 2021, making it one of the worst performers in the world. The selloff has also affected other markets, such as Hong Kong, where the Hang Seng Index dropped 1.5% on Wednesday, and the U.S., where tech giants slid in late trading after earnings reports.

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