On the eve of new delivery regulations, JD Waimai published a tightened dine-in classification: only merchants with a stable, continuous dining area separated from the kitchen and where dining space exceeds 50% of total area will be classed as dine-in restaurants. The standard goes live platform-wide on June 1. JD Waimai said it has rejected 1.0 million "ghost" delivery-only merchants over the past year, its merchant onboarding approval rate is about 40%, and stores with no dine-in capability ac

The CPC Beijing Municipal Committee and the Beijing Municipal Government issued Implementation Opinions on Promoting High-Quality Urban Development, saying technological innovation should lead new-quality productive forces. The document calls for accelerating construction of Zhongguancun into a world-leading science park, deepening the "Science+City" model and fostering a globally competitive innovation ecosystem. It mandates coordinated development of the "Three Cities and One Zone," strengthening Zhongguancun Science City’s role as a source of technological and industrial innovation, leveraging Huairou Science City’s concentration of major scientific infrastructure, and driving capacity upgrades in priority areas of the Future Science City. It supports innovative industrial-cluster demonstration zones in receiving innovation outputs and industrial resources. The plan directs maintaining an appropriate share of advanced manufacturing and strengthening trillion-yuan industry clusters in next-generation information technology, pharmaceuticals and healthcare. It also calls for expanding advantages in technology, financial and commercial services, deepening "two-industry integration," and optimizing and bolstering the headquarters economy.

The PBOC conducted 101.3 bln yuan of 7-day reverse repo operations today; because 100.0 bln yuan of 7-day reverse repos matured today, the net injection was 1.3 bln yuan. To view open-market funding flows, see Database - PBOC Data.