China's State Administration for Market Regulation, Ministry of Industry and Information Technology, National Health Commission and National Administration of Disease Control and Prevention have formed a joint investigation team to verify media reports of formamide in infant diapers. Regulators said they will handle any violations in accordance with law and regulations and will publish findings promptly.

Iranian state media reported a member of Iran's negotiation team said procedures to execute the release of Iran's frozen funds have begun, with a Qatari delegation participating.

China's LPR was unchanged for a 13th consecutive month in June, with both tenors matching market expectations. Analysts said the pause reflects a stable policy-rate pricing base, bank operating pressure and domestic and external macro constraints. Signals from the Lujiazui Forum indicate imminent reform of China's interest-rate regulation framework and gradual optimization of the LPR pricing mechanism, creating a potential window for LPR and monetary policy shifts in H2. Markets view policy as in an observation period. The PBOC plans to use framework reforms in H2 to lower financing costs for the real economy.