The State Administration for Market Regulation said China’s enterprise credit index stood at 161.53 in May, with overall corporate credit remaining stable. Top five industry scores were financials; power, heat, gas and water production and supply; residential services and repairs/other services; water conservancy, environmental and public facility management; and manufacturing. Residential services and repairs posted the largest gain, entering the top five for the first time this year. Culture,

The Bank for International Settlements said in a report on June 28 that a "historic closure" of the Strait of Hormuz triggered an energy and broader commodity supply crisis, posing a fresh threat to the global outlook. While geopolitical tensions have eased and oil prices have fallen sharply, the BIS warned the shock's effects may persist. The report said early-year resilience was supported by AI-driven optimism and stronger-than-expected global trade, but cautioned that AI-related optimism may not be durable. If supply bottlenecks continue to constrain production, the recent surge in capital expenditure may be difficult to sustain.

Baidu’s Kunlun AI chip unit is reportedly planning a Hong Kong IPO and counts Tencent as a customer. Earlier reports said ByteDance was considering adopting Kunlun’s AI chips; sources close to ByteDance say it currently has no intention to cooperate with Kunlun.