Central Banking & Gold: The PBOC reported its biggest monthly gold reserve increase in over 2.5 years in June, adding about 480,000 ounces for a 20th straight month of purchases, even as bullion prices fell and the reserve value slipped. South China Sea Diplomacy: China rejected a 10th-anniversary joint statement from the US, Philippines and others, reiterating that the 2016 arbitration has no binding force and warning against “militarization and coercion.” AI & Export Controls: OpenAI and Google confirmed they sell advanced AI services to Singapore units of Alibaba, Baidu and Tencent—firms on the Pentagon’s 1260H blacklist—reigniting debate in Washington over how controls work for cloud-delivered models. Macro Watch: Economists say China’s GDP deflator is likely to turn positive in Q2 for the first time in more than three years, a sign that price dynamics are improving. Disaster Response: Typhoon Bavi hit eastern China after evacuating nearly 2 million, prompting a Level-IV national emergency response and central funding for repairs. Trade & Industry Links: Bangladesh’s garment makers and Chinese business groups discussed joint ventures, tech transfer, automation and faster customs to deepen RMG investment ties. Markets & Consumer Tech: Shein won Hong Kong IPO approval, clearing a path after prior setbacks abroad.