Bank of Japan Governor Ueda is still monitoring the impact of earlier rate hikes.

China Insurance Association said on July 31 insurers had received 533,000 claims across 20 provinces hit by heavy rain and floods, typhoons and earthquakes, with estimated losses of 11.05 bln yuan and payouts of 5.53 bln yuan to date.

CHINA STATE PLANNER said at a July press briefing it will coordinate with ministries and local governments to draft targeted plans or implementation schemes for each of the six networks and push quickly to convert plans into physical work. The agency said it will emphasize multi-network, hardware–software and scenario coordination and accelerate detailed, locality- and sector-specific implementation. Policy research director Jiang Yi said that during the 15th Five-Year Plan period the new-type power grid is expected to receive over 5 tln yuan of investment to upgrade grid architecture, transmission and storage technologies and power-supply services to better meet demand, accommodate renewable integration and strengthen disaster response and rapid recovery. Underground utility networks are slated for about 5 tln yuan of investment to shore up gaps in gas, water supply/drainage and heating, boosting urban infrastructure resilience and living standards.