A memorandum admitting the Lao People’s Democratic Republic as a Shanghai Cooperation Organization dialogue partner was signed in Beijing this morning (10th). SCO leaders agreed to accept Laos at last year’s Tianjin summit. With Laos, the SCO now comprises 10 full members, 2 observers and 15 dialogue partners.

Private fund tracker Simuwang said the number of private securities managers with at least 10 bln yuan AUM reached 142 as of June 30, up 29 from the end of last year and up 3 since end-May, a record high. Among 100 firms with performance records, average 1H return was 13.36%, versus a 7.55% rise in the CSI 300. Ninety-one percent posted positive 1H returns and 27 firms delivered gains above 20%.

Williams said Federal Reserve policy needs to remain data-dependent.