On June 25 (Thursday) evening, Shanghai Gold Exchange gold T+D closed up 1.25% at 884.2 yuan/gram; silver T+D closed up 2.11% at 14,217 yuan/kg.

Beijing Xiangrui Jinying New Energy Storage Equipment Technology Co and Shanghai Painen Energy Technology Co signed a strategic cooperation to develop a 400 MWh standalone energy storage power station and a 2 GWh battery framework. The agreement covers cell R&D, system integration, supply-chain coordination and market expansion. Meijin Energy, a shareholder in Xiangrui Jinying, will leverage its hydrogen and conventional energy platforms to support the three-party effort and accelerate large-scale roll-out of storage projects in China.

PBOC has authorized Standard Bank South Africa Ltd and Industrial and Commercial Bank of China Ltd as joint RMB clearing banks in Africa to facilitate China–Africa trade and investment.