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The United States and Iran have signed a memorandum to end the war, with Iran set to reopen the Strait of Hormuz and the US to lift its naval blockade, though President Trump warned military action could resume if Tehran fails to uphold the agreement.

China's national railway network is expecting 83 million trips during the Dragon Boat Festival travel rush. Communities across the country are marking the festival with traditional activities such as dragon boat races and making Zongzi, or glutinous rice dimplings.

Tehran and Washington have confirmed the signing of the Memorandum of Understanding to end the war. The US will reportedly unfreeze Iranian funds, as US officials say the two sides will address the nuclear program during future talks.

The text released by Iranian media shows that Washington will withdraw troops, launch reconstruction efforts, lift sanctions and unfreeze all restricted Iranian funds. US government officials also unveiled a 14-point full text, which sets out expectations for addressing Iran's nuclear program during future technical talks.

The US Federal Reserve has kept the target range for the federal funds rate unchanged at 3.5-3.75 percent. The median GDP is projected to grow by 2.2 percent in 2026.

The International Energy Agency says oil reserves in OECD members have reached their lowest level since December 1990. It said oil stocks fell by a cumulative 163 million barrels since the outbreak of the Middle East conflict.

A mainland spokesperson says the number of Taiwan residents entering the Chinese mainland through ports in Fujian rose nearly 30 percent in the first five months. Over half a million Taiwan residents entered through these ports from January to May.

Speaking at the Lujiazui Forum, Vice Premier He Lifeng says China welcomes financial institutions from around the world to further deepen their presence in the Chinese market and tap into the country's development opportunities.

The 8-time Ballon d'Or winner completed a hat trick in his 200th game for Argentina's national team to tie the all-time World Cup record.

China says it has worked with the United States in drug control to address the flow of non-listed chemicals into North American drug manufacturing channels.

China has released a white paper on its principles, proposals and action on global governance. The document notes that China proposed the Global Governance Initiative to promote ‌a more just and equitable governance system.

Kylian Mbappe scored a brace in France's 3-1 victory against Senegal in Group I. It takes his World Cup tally to 14 and makes him France's top scorer of all time.

Chinese Foreign Minister Wang Yi congratulated Pakistan on facilitating the first-phase peace deal between Iran and the United States, stressing that working for peace is an international responsibility shared by all countries.

The European Parliament has approved legislation implementing the EU-US trade deal, marking the final parliamentary step before the agreement formally takes effect.

The Bank of Japan has decided to raise its benchmark interest rate by a quarter of a point to 1 percent, the highest in 31 years. The decision marked the first rate hike since December 2025.

Chinese President Xi Jinping has held talks with President of Myanmar Min Aung Hlaing in Beijing, calling on both sides to steadily advance the construction of key projects to help Myanmar develop its economy and improve livelihoods.

The value added of industrial enterprises above the designated scale increased 4.5 percent in May. In the first five months, total retail sales of consumer goods and services increased by 2.8 percent.

Iran opened its World Cup campaign with a 2-2 draw against New Zealand, twice coming from behind. Asian teams remain unbeaten so far in the tournament.

Tunisia fired head coach Sabri Lamouchi after ​a 5-1 defeat at the hands of Sweden. The Tunisian Football Federation said plans are underway to appoint ‌Mondher Kebaier on an interim basis.

Pakistani Prime Minister Shehbaz Sharif says Pakistan will host the official signing ceremony of a peace deal between the United States and Iran to be held on Friday in Geneva, Switzerland.

A Chinese foreign ministry spokesperson says China welcomes the memorandum of understanding between the United States and Iran. Spokesperson Lin Jian said China appreciates Pakistan's mediation efforts and hopes the deal will be signed as planned.

China's top market regulator has held talks with Walmart China regarding food safety problems found in Sam's Club's brick-and-mortar stores and online shops. It has urged the company to conduct food business activities in line with Chinese laws and regulations.

Iran's national football team traveled to Los Angeles from its base camp in Tijuana, Mexico. Iran's first group match is against New Zealand on Monday.

US President Donald Trump says he has authorized the immediate removal of the US naval blockade against Iranian ports. Iran's deputy foreign minister Kazem Gharibabadi says the two sides will sign the draft of a memorandum of understanding in Switzerland on Friday.

Pakistani Prime Minister Shehbaz Sharif says the United States and Iran have reached a peace deal. A signing ceremony will take place in Switzerland on Friday.