Thousands of spectators on Sunday lined the waterfront in Salford, Greater Manchester, as Europe's largest dragon boat race brought a spectacular display of sport and culture to northern England.
Launched in 2012, the UK Chinese Dragon Boat Festival (CDBF) promotes friendship and cultural understanding between China and the UK, and continues to grow in scale and significance, drawing participants from across the country and beyond.
This year, more than 40 teams took to the water, representing organizations including the Bank of China and Manchester City Football Club.
Teams competed in traditional dragon boats, each powered by 10 paddlers, guided by a steersperson, and kept in sync by a central drummer - the symbolic heartbeat of the boat.
A youth race featured for the first time this year, giving local college students a chance to get involved in the action.
"When you’re going up to the race, it's such good fun, everyone 'getting excited. And then when you are at the start of the race, it's like it's quite a unique experience. And during the race, you can't, hear anything else, you're just trying to push hard and win the race. And then at the end, obviously when you win, it’s such a great feeling," said a specatator.
Alongside the quayside, cultural festivities were held to entertain visitors -- from traditional lion and dragon dances, choral performance to food and crafts.
Addressing the event, Zheng Zeguang, Chinese Ambassador to UK, said there is vast room for cooperation between China and Greater Manchester.
"The relationship between Greater Manchester and China has been deepening and expanding to the benefits of both sides. There's a lot more we can do together, in terms of trade, investment, clean energy, education, culture, sports," said the ambassador.
Salford has a thriving Chinese community and around three percent of the Greater Manchester population are of Chinese heritage.
UK hosts Europe's largest dragon boat race in Salford
U.S. stocks finished slightly higher on Monday, staging a late-session recovery as investors navigated a volatile landscape marked by a criminal probe into the Federal Reserve leadership.
The Dow Jones Industrial Average rose 86.13 points, or 0.17 percent, to 49,590.2. The S&P 500 added 10.99 points, or 0.16 percent, to 6,977.27. The Nasdaq Composite Index increased by 62.56 points, or 0.26 percent, to 23,733.9. Despite the positive close, the market experienced significant intraday turbulence, with the Dow dropping nearly 500 points at its session lows.
Nine of the 11 primary S&P 500 sectors ended in positive territory. Consumer staples and industrials led the gainers, rising 1.42 percent and 0.75 percent, respectively. Financials and energy were the primary laggards, declining 0.8 percent and 0.66 percent.
Market sentiment was initially shaken by an announcement on Sunday from Fed Chair Jerome Powell, who confirmed that federal prosecutors are investigating him over the Fed's multi-billion-dollar project to renovate its headquarters. Powell characterized the probe as an attempt by the Trump administration to compromise the Fed's independence.
Further weighing on the financial sector was a proposal by U.S. President Donald Trump to cap credit card interest rates at 10 percent for one year, which triggered a sell-off in banking stocks amid concerns over restricted lending and reduced profitability. Capital One shares plummeted 6.42 percent, while Citigroup, JPMorgan and Bank of America also recorded losses.
In contrast, retail giant Walmart led the Dow's advance, climbing 3 percent following news of its upcoming inclusion in the Nasdaq 100 index. The company also announced a strategic partnership with Google's Gemini AI to enhance the digital shopping experience.
Investors are awaiting Tuesday's release of the U.S. consumer price index for December 2025. Following last week's cooling labor market data, market participants increasingly expect the Fed to maintain interest rates at their current levels during the upcoming January meeting.
U.S. stocks close higher amid criminal probe into Fed chair Powell
