Reserve Bank of India governor says artificial intelligence poses cybersecurity and data privacy risks.

Shenzhen Composite Index extended losses to 4%; China's Shanghai Composite Index down 1.88%.

On July 16 in Shanghai, representatives of 29 countries signed the founding agreement for the World Artificial Intelligence Cooperation Organization; UN Secretary‑General Guterres and other national and international officials attended. Organizers framed the initiative as an alternative to a concentrated, closed‑source technology order—characterized by closed models, charged APIs, constrained compute and locked ecosystems—and said China seeks to explore a multilateral, open‑source, full‑factor approach to building the AI ecosystem.