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On May 30th, the State Administration for Market Regulation announced that, in order to adapt to the needs of combating and rectifying pyramid schemes under the new circumstances, protect the legitimate rights and interests of natural persons, legal persons, and unincorporated organizations, and maintain market order and social stability, it has organized the revision of the "Regulations on Prohibiting Pyramid Schemes," resulting in the "Draft Regulations on Prohibiting Pyramid Schemes (Revised Draft for Public Comment)," which is now open for public comment. The public comment period is from May 29th to June 28th, 2026. The draft revisions focus on the following aspects: adding specific content on combating online pyramid schemes; strengthening the working mechanisms and measures for preventing and combating pyramid schemes; and increasing the legal liabilities for pyramid schemes.On May 30, at the invitation of Valentina Matviyenko, Chairwoman of the Federation Council of Russia, and Volodin, Chairman of the State Duma, Zhao Leji, Chairman of the Standing Committee of the National Peoples Congress, paid an official friendly visit to Russia from May 27 to 30. In Moscow, he held separate talks with Matviyenko and Volodin and attended the 11th meeting of the China-Russia Parliamentary Cooperation Committee. Zhao Leji stated that the exchange mechanism between the legislative bodies of China and Russia is increasingly完善 (perfected/improved), playing an important role in optimizing the legal environment for bilateral cooperation and consolidating the public opinion foundation of bilateral relations. Both sides should, based on the functions and responsibilities of their legislative bodies, maintain the good momentum of multi-level and multi-field exchanges, enhance mutual understanding and trust, strengthen exchanges and mutual learning, and better serve the development of the China-Russia comprehensive strategic partnership of coordination for a new era. Exchanges of legislative experience should be conducted in areas such as national security, ecological and environmental protection, artificial intelligence, and foreign-related legal affairs.According to AXIOS, the first Windows PCs equipped with NVIDIA (NVDA.O) chips will be unveiled next week.On May 30th, Xiaomi officially unveiled its end-to-end optimization solution for the inference system of the MiMo-V2.5 series models. According to Xiaomi, the team systematically reconstructed the entire inference stack, from KVCache management, hierarchical caching, and prefix caching to scheduling strategies and the Prefill/Decode link, based on a hybrid architecture of Hybrid SWA+MoE+multimodal. KVCache storage was compressed to approximately 1/7 of comparable solutions, significantly reducing inference costs in long-sequence scenarios—this is the core technological foundation for this price reduction. On May 27th, the MiMo-V2.5 series API underwent a permanent price reduction, with a maximum reduction of 99%, regardless of input length.On May 30, the nations first green computing power full-stack AI platform was officially launched in the Hohhot Area of the Inner Mongolia Pilot Free Trade Zone, filling the gap in the regions one-stop computing power model word element comprehensive service transaction.

Despite the RBA's aggressive policy statement, the AUD/JPY pair falls below 91.40

Daniel Rogers

Feb 10, 2023 11:43

AUD:JPY.png 

 

Having reached an intraday high greater than 91.40 during the Asian session, the AUD/JPY pair is currently under selling pressure. Despite the aggressive monetary policy statement by the Reserve Bank of Australia, the Australian Dollar has met offers (RBA).

 

Increasing gasoline prices, series demand, and electricity rates drove the increase in Australian inflation in December. The loss of rebates in Western Australia resulted in a 7% increase in electricity bills in December.

 

The RBA has projected that Gross Domestic Product (GDP) growth will be 2.75 percent in 2022, 1.5 percent in 2023, and 1.5 percent in 2024.

 

On the Japanese Yen front, investors are awaiting the Bank of Japan contenders to replace Haruhiko Kuroda (BoJ). Analysts at Commerzbank expect that next week's nomination, regardless of who emerges as the frontrunner, would have a substantial impact on the Yen exchange rate.

 

In the interim, Japanese Prime Minister Fumio Kishida stated, "The administration is in the process of picking the nominee for the next BoJ Governor, and they are aware of the market's keen interest in the choice." He stated, "Communication skills have become increasingly important for someone like the new governor of the Bank of Japan."

 

According to a report by Reuters, the Japanese government intends to present its candidates for governor and two deputy governors to parliament on February 14.

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