Tencent Licaitong (current+7-day annualized yield) ranged from 0.7180% to 1.1670%. WeChat Wallet Lingqian Tong 7-day annualized yield ranged from 0.9440% to 1.0110%. Alipay Yu'e Bao 7-day annualized yield ranged from 1.0010% to 1.1050%.

Hong Kong chief executive Lee Ka-chiu met PBOC's Pan Gongsheng on July 6 to discuss economic and financial issues; Financial Secretary Paul Chan and Secretary for Financial Services and the Treasury Christopher Hui attended. Lee said China’s 15th Five-Year Plan supports measures to strengthen Hong Kong’s role as an international financial centre, explicitly citing development of a global offshore RMB hub, international asset and wealth management centre, international risk management centre and a commodities trading ecosystem. The HKSAR is drafting its first five‑year plan to align with those national priorities and said it will push greater mainland-market connectivity, promote two-way capital flows and enhance Hong Kong’s competitiveness as an international financial centre.

WALLER: I view Fed Chair KEVIN WARSH as reiterating commitment to the Fed's 2% inflation target.