Bank of Communications Group, as one of the lead underwriters, supported Shanghai Electric's issuance of the market's first corporate Shanghai Free-Trade Zone offshore bond, raising RMB 1.5 bln. The note is the first FTZ offshore corporate bond to list on HKEX. The transaction marks a milestone in Shanghai FTZ offshore finance and follows the 2026 Lujiazui Forum Shanghai International Financial Center Offshore Finance Action Plan.

Nomura forecasts India's fiscal deficit will widen by 20bps and does not expect policy rate hikes before 2027.

MOFCOM and other agencies announced retaliatory measures against recent US actions by the Federal Communications Commission and Department of Homeland Security, including tightened export controls on drone-related dual-use items bound for the US and placing six US entities, including Applied DNA Sciences, on a countermeasure list. Beijing said the package is legally grounded and intended to defend national interests; China reaffirmed commitment to stable US-China ties but warned that if the US implements further restrictive measures, it will impose additional countermeasures.