Fed official Paulson said monetary policy is moderately restrictive and at an appropriate level.

Beijing Municipal Development and Reform Commission held a forum with eight private technology firms on May 29. Party Secretary and Director Yang Xiuling said Beijing will aim to become a world-class tech innovation source during the 15th Five-Year Plan period, further strengthen two trillion-yuan-scale industry clusters—new-generation information technology and pharmaceuticals & healthcare—and cultivate two additional trillion-yuan clusters in artificial intelligence and green advanced energy/low-carbon environmental protection. She urged private tech companies to leverage Beijing’s science, talent and innovation resources and align with the capital’s high-quality development agenda.

Yangtze Optical Fibre and Cable (06869.HK) shares rose more than 10%.