ECB President Lagarde said there is no pressure to raise rates today.

ECB President Lagarde said higher defense spending is supporting manufacturing.

Zhejiang provincial government issued the 15th Five-Year Digital Zhejiang Construction Plan, setting a 2030 target for AI-led digital technology innovation to reach leading levels and for digitalisation to materially boost high-quality growth. The plan commits to build a high-quality digital-economy province and a Zhejiang-specific modern industrial system with AI as a key variable and advanced manufacturing as the backbone; core digital-economy industry value-added is to reach 14% of GDP and more than three digital industry clusters larger than 1 trillion yuan each. Zhejiang will seek designation as a national digital-economy innovation pilot zone and establish a high-level comprehensive pilot zone for data elements, including multiple data-element “×” demonstration scenarios.