Global Trade & Ports: China’s ports keep topping efficiency rankings, with seven of the top ten spots in the World Bank/S&P Container Port Performance Index, as automation and disciplined operations help absorb geopolitical shocks while Western ports struggle with labor and aging systems. China Economy Watch: May retail sales are expected to fall 0.2%, adding to worries that consumption is weakening and confidence is sliding. Hong Kong Finance: China’s crackdown on overseas investment flows is rattling Hong Kong banks and brokers after a China Securities Regulatory Commission review triggered probes into cross-border activity. AI Market Mood: Zhipu’s stock surged after it opened GLM-5.2, while Minimax lagged, showing investors are getting pickier in China’s AI rally. Digital Payments & Trade Links: China and Indonesia launched cross-border QR payments under central-bank guidance, pushing UnionPay QR merchants outside China past 46 million. Regulation & Consumer Safety: China’s market regulator summoned Walmart China over repeated food-safety issues at Sam’s Club, demanding tighter controls across the supply chain. Security & Regional Tensions: A Lowy Institute report says China’s ability to strike Australia will grow over the decade, with near-term risks focused on cyberattacks and undersea cable disruption. South China Sea Legal Debate: China again argues the 2016 arbitration award is illegal and has no binding force, rejecting the process outright. Culture & Youth: Xinhua released reports portraying Chinese youth as “strivers and global contributors,” and schools held dragon boat races in Guangdong.