SPOT YUAN FALLS 245 PIPS TO 6.9062/USD, WEAKEST SINCE MARCH 9

ECB Governing Council member Kazmir: We have little to do about the surge in inflation in the coming months.

Domestic News 1. Li Qiang attends the opening ceremony of the China Development Forum Annual Meeting 2026 and delivers a keynote speech. 2. WeChat launches official lobster plugin "ClawBot". 3. Han Wenxiu: Steadily increase the contribution of consumption to economic growth. 4. PBOC Governor Pan Gongsheng: Use various tools to maintain ample liquidity. 5. Oil prices may see their biggest increase this year, costing nearly 100 yuan more to fill up a tank. 6. Minister Wang Wentao meets with representatives from the Pharmaceutical Research and Manufacturing Enterprises Association and multinational pharmaceutical companies. 7. The General Office of the CPC Central Committee and the General Office of the State Council issue the "Regulations on Integrity in the Employment of Leaders of State-Owned Enterprises". International News 1. The U.S. State Department advises U.S. citizens around the world to be vigilant. 2. The Israeli military announces an expansion of its offensive in Lebanon, advancing ground operations. 3. Foreign media: Fannie Mae and Freddie Mac make large-scale purchases of mortgage-backed securities to stabilize the market. 4. South Korean President nominates Shin Hyun-song, an official from the Bank for International Settlements, as the new governor of the Bank of Korea. 5. Tesla announces partnership with SpaceX and xAI to build the world's largest chip factory, TERAFAB, aiming for an annual output of 1 terawatt of computing power. 6. Iran Situation —① Iran proposes four measures in response to Trump's "ultimatum" to open the Strait of Hormuz, including the complete closure of the Strait. ② Iranian armed forces claim they have shifted from defense to offense. ③ US Treasury Secretary: Sufficient funds for war; no tariffs will be imposed. "50 days of price increases can buy 50 years of Iranian denuclearization." ④ Iran proposes six conditions for ending the war. ⑤ Sources reveal that the Turkish Foreign Minister is attempting to mediate with all parties and discuss measures to end the war. ⑥ Two sources reveal that the US may have no choice but to launch a ground operation to seize Iran's Haker Island.