*Beijing’first private bank zhongguancun Bank is expected to be approved by the authorities within this year

*Outstanding amount of margin financing in two exchanges as of June 2 increased 5.4 billion yuan to 835.3 billion yuan,rising for a third straight day.

* China is seeking to set up a new global economic summit: Bloomberg

*PBOC fixed RMB mid price at 6.5793, 105 basis points lower than the last fixing

*PBOC will inject 40 billion yuan into the financial system via its seven-day reverse repurchase operation today. Meanwhile, maturing reverse repos will drain 95 billion yuan from the system.

* Deutsche Bank expected the Shenzhen-Hong Kong Stock Connect to be announced in the next few weeks

*Several senior CSRC officials responsible for supervision have left office:Caixin

*The Caixin services Purchasing Mangers’ Index (PMI) for May fell to 51.2 from 51.8 in April, hitting a three-month low. Meanwhile, the composite PMI dropped to 50.5 in the month from 50.8 in the previous month, also a three-month low.

*The CSRC is planning to impose net capital management policy on futures companies’ asset management units, Caixin reported, citing a document seen by it.

* China’s National Social Security Fund recorded a 15.19% rate of return last year, with income of 229.46 billion yuan ($34.86 billion), according to its annual report

*The Shanghai index closed 0.02% lower by the midday break, while the Shenzhen index climbed 0.33% and the ChiNext indext rose 0.44%.