A-shares opened: Shanghai Composite down 0.39%, Shenzhen Composite Index down 0.01%, ChiNext Index up 0.02%.

ECB President Lagarde said the June 25bp rate increase was not a preventive move against future inflation risks but a robust decision based on the economic and inflation outlook at the time. She warned that without that hike, inflation would have remained above the 2% target in 2027 and 2028, and that subsequent developments, including lower oil, have not altered the ECB’s June assessment. Lagarde said the ECB now has improved data, indicators and forecasts and will follow a data-dependent, meeting-by-meeting policy approach rather than relying on forward guidance. She added that financial conditions often adjust to incoming data and can transmit policy effects before formal decisions, giving the ECB additional time to evaluate changes.

June 30, Beijing — Vice President Han Zheng met Saudi foreign minister Faisal bin Farhan. Han said China and Saudi Arabia will implement leaders’ consensus, deepen political trust, step up high‑level exchanges and expand pragmatic cooperation to advance bilateral ties. Faisal said the comprehensive strategic partnership has reached an unprecedented height, reaffirmed Saudi adherence to the One China policy and expressed readiness to deepen bilateral and multilateral cooperation to promote regional and global stability.