Global Governance Push: China’s State Council Information Office released a white paper on “More Just and Equitable Global Governance,” highlighting the Global Governance Initiative and saying it has been endorsed by nearly 160 countries, with China also announcing it will host the inaugural Xiong’an Global Governance Forum this autumn. Financial Diplomacy & Yuan Drive: At Shanghai’s Lujiazui Forum, China unveiled an action plan to develop offshore finance in Shanghai and pledged vigilance against financial risks, while the PBOC signalled possible moves toward an overnight policy rate and expanded tools to provide yuan liquidity for overseas central banks and institutions. Anti-Sanctions Legal Plan: Vice-Premier He Lifeng said China will embed anti-sanctions provisions into financial laws and expand “countermeasures” across legislation. US-China Tech Friction: Reuters reports the US has held off adding DeepSeek, CXMT and 100+ other firms to the Entity List/blacklist, as Washington tries to avoid further escalation. Regional Security: China warned Japan that militarization threatens regional stability, while the Philippines said a Chinese floating platform was removed from Panatag (Scarborough) Shoal after Manila protested. China-Myanmar Ties: Xi backed Myanmar’s sovereignty as Beijing hosted Myanmar’s president and signing ceremonies advanced cooperation. Cyber & Scams: A coordinated crackdown lawsuit targets an international scam network linked to China, as Google and the FBI back the case.