WTI and Brent crude rose over $1 intraday to $86.59/bbl and $88.74/bbl, respectively.

The Asset Management Association of China (AMAC) published revised Guidelines for fund managers concurrently serving as investment managers of private asset management plans. The revision clarifies risk-segregation requirements for public fund institutions, requiring fund managers to take effective measures to ensure public fund and private asset-management businesses are physically and operationally separated — including premises, personnel, accounts, funds and information — and to strictly prevent improper flow or use of sensitive information and strengthen overall risk isolation.

In Berlin on June 11, MOFCOM Vice Minister and deputy chief international trade negotiator Ling Ji met Germany’s State Secretary at the Federal Ministry for Economic Affairs and Energy and the chancellor’s economic adviser. Ling said maintaining overall stability in China-EU economic and trade relations is important, warned there are no winners in trade wars, and reiterated China’s preference for dialogue to manage differences. He said he expects the China-EU trade and investment consultation mechanism to deliver practical results and urged the German government to play an active role within the EU to press the bloc to move toward China and bolster the stability and predictability of bilateral economic ties.