Canada May CPI YoY 3.2% vs 3.0% expected; prior 2.8%.

Mayor Gong Zheng chaired a city executive meeting today, instructing officials to sustain Q1 economic momentum and push to meet H1 growth targets; boost the scale and capability of strategic emerging industries; accelerate high-quality private investment; and advance the Digital Shanghai initiative. Districts and departments were ordered to extend sector gains, close weaknesses, ensure heavyweight industries act as stabilising anchors and help pressured sectors reach inflection points. The city will back key regions to carry greater responsibility, prioritise solving new problems, and coordinate short-term growth stabilisation with medium-to-long-term structural transformation. The meeting approved in principle Shanghai’s 15th Five-Year plan for strategic emerging industries, stressing innovation-led development, strengthening core capabilities in three lead industries and key industrial chains, deepening forward-looking deployments in frontier technologies, and expanding industry clusters in targeted niche tracks. The plan calls for institutional reform to unlock business dynamism—wider scenario opening, stronger factor support—and deeper domestic coordination and external opening to raise industry development quality and efficiency.

U.S. Secretary of State Rubio will attend a Gulf Cooperation Council meeting in Bahrain, State Department spokesperson said.