South China Morning Post reports Shein has pushed back its Hong Kong listing to September, citing delayed investor order placements.

US federal debt topped $40.0 trillion on Tuesday, the Treasury Department said on Wednesday. Debt rose about $3.0 trillion in the past year — the fastest annual increase outside the pandemic — as federal borrowing accelerated. The total has climbed from under $6.0 trillion at the turn of the century and has roughly doubled over the past decade. The Congressional Budget Office projects publicly held federal debt-to-GDP will exceed the post‑war peak of 106% around 2030 and reach about 120% by 2036. A senior director at the Committee for a Responsible Federal Budget said the pace is a clear signal the situation is out of control.

South Korea's defense minister said a voluntary military enlistment system will be introduced next year.