Reserve Bank of Australia Governor Bullock said policy tightening aims to address domestic capacity pressures.

China’s Central Military Commission vice chairman Zhang Shengmin met Russian Defence Minister Belousov at Diaoyutai State Guesthouse on the 3rd. Zhang said bilateral military ties have advanced alongside upgraded China‑Russia relations, producing substantive results in high‑level exchanges and joint exercises and training. He said China is willing to work with Russia to implement the important consensus of the two leaders, continue to strengthen strategic communication, deepen military mutual trust, refine cooperation mechanisms and explore new areas of cooperation to better safeguard each country’s sovereignty, security and development interests and to help maintain regional and global peace and stability.

China’s National Development and Reform Commission said it will prioritise six emerging pillar industries during the 15th Five-Year Plan, citing integrated circuits, aerospace and biomedicine among the sectors. The NDRC said these industries are central to the national economy and key to shaping new growth drivers and ensuring a smooth transition from old to new drivers. It added that, supported by a comprehensive, large-scale industrial system, the emerging pillar industries currently show healthy momentum.