ECB executive board member REHN said there is no sign of second‑round inflationary effects.

PBOC conducted a CNY 60 billion 7-day reverse repo today; bid and allotment both CNY 60 billion, rate 1.40%, unchanged.

The Ministry of Industry and Information Technology, Ministry of Finance and and the National Development and Reform Commission jointly approved a four-year hydrogen comprehensive-application pilot city cluster linking the Northeast (including eastern Inner Mongolia) and the Yangtze River Delta. Shanghai will lead a 14-city initiative spanning seven provinces — Inner Mongolia (eastern), Liaoning, Jilin, Heilongjiang, Jiangsu, Zhejiang and Anhui — structured as two hubs with a connecting corridor for cross-regional coordination.