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On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan". Xin Guobin, Vice Minister of Industry and Information Technology, said that during the 15th Five-Year Plan period, efforts should be made to cultivate growth drivers, promote the deep integration of scientific and technological innovation and industrial innovation, develop new productive forces according to local conditions, adhere to the principle of "industry posing questions, science and technology answering questions", strengthen the construction of public technology service platforms, pilot testing platforms and other carriers, promote the rapid transition of original technologies to pilot testing and achieve large-scale application, actively explore and cultivate new scenarios, new business forms and new models, and expand the supply of high-quality products to meet the consumption needs of different groups.On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Xin Guobin, Vice Minister of Industry and Information Technology, stated that during the 15th Five-Year Plan period, significant efforts will be made to create a favorable ecosystem. We must act as a supportive "family member" for enterprises, implement key tasks for deepening reform, strengthen planning guidance, standardization, policy guarantees, and high-level opening-up and cooperation to create a sound industrial ecosystem. We must strengthen legislative research in emerging fields such as the digital economy and artificial intelligence, improve the mandatory standards system in the industrial and information technology sector, and use standards improvement to support the high-quality development of the industry. We must intensify efforts to clear overdue payments to enterprises, continue to implement special actions to reduce the burden on enterprises, and further enhance the sense of gain for enterprises, especially small and medium-sized enterprises.On August 26, Yao Jun, Director of the Planning Department of the Ministry of Industry and Information Technology, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, we will organize and implement a revitalization action for traditional industries, strengthen the guidance of national standards, empower with digital and green technologies, and constrain environmental and safety regulations to consolidate the foundation, improve quality, build brands, and accelerate the improvement of the quality and efficiency of traditional industry development. First, we will focus on technological transformation. This is an important means to promote the transformation and upgrading of traditional industries. We will deepen the pilot projects for new technological transformation in manufacturing cities, strengthen technological innovation, equipment upgrading, and model innovation, and vigorously promote new technological transformation aimed at improving quality and efficiency, focusing on the application of digital and intelligent technologies and green and low-carbon technologies, to promote the intelligent, green, and integrated development of traditional industries. For example, in the petrochemical industry, we will accelerate the upgrading and transformation of old equipment, fully utilize digital and intelligent technologies and green technologies to effectively reduce safety and environmental risks, achieve synergistic effects in pollution reduction and carbon reduction, and promote high-quality development of the industry. Second, we will focus on standard improvement. We will implement an action to guide the optimization and upgrading of traditional industries through standard improvement. Third, we will focus on quality upgrading.On August 26, the National Food and Strategic Reserves Administration announced that the 11th APEC Ministerial Meeting on Food Security was held in Hangzhou, Zhejiang Province on August 25. The meeting adopted and released the "Principles Paper on Enhancing the Resilience of Food Systems in the Asia-Pacific Region through Innovation and Digitalization," calling on economies to apply innovative achievements and digital technologies such as artificial intelligence to improve decision-making capabilities, interconnectivity, and responsiveness across the entire food system chain. This aims to help food systems better anticipate risks, withstand shocks, adapt to changes, and restore production capacity, thereby improving operational efficiency and overall effectiveness.On August 26, the State Council Taiwan Affairs Office held a regular press conference. Spokesperson Zhang Han stated that the construction of the Xiamen-Kinmen Bridge is a shared aspiration and urgent wish of the people of both Xiamen and Kinmen. Once fully operational, the Xiamen-Kinmen Bridge will facilitate travel between the two places and boost Kinmens economic development and improve peoples livelihoods. Zhang Han also stated that the DPP authorities should face up to the interests and demands of Kinmen residents, stop political calculations, truly work for the benefit of the people, and support the early completion and opening of the Xiamen-Kinmen Bridge.

Fidelity to Allow Retirement Savings Allocation to Bitcoin In 401(k) Accounts

Cameron Murphy

Apr 27, 2022 10:05

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The Wall Street Journal reported on Tuesday that Fidelity Investments will allow investors to establish a bitcoin account to their 401(k) retirement savings and investment programs.


Fidelity Investments, the first large retirement plan provider to do so, announced on Tuesday that individuals will be able to invest a portion of their retirement savings in bitcoin through their 401(k) investing plans.


MicroStrategy Inc, a prominent bitcoin corporate sponsor, will be the first company to use the new product, which will be offered to other companies by the middle of the year, according to the family-controlled asset manager.


Employees will be able to invest in bitcoin through a Digital Assets Account (DAA) within the basic lineup of their 401(k) plans as part of the new offering, according to Fidelity.


Newfront, a retirement consulting services provider, has also suggested that the DAA will help fulfill a rising need among their client base, according to Fidelity.


Plan sponsors will be able to decide on employee contributions to the DAA and set restrictions on how much of that money can be exchanged for bitcoin, according to Fidelity, who also stated that further information about the new product will be available in the coming months.


According to the Wall Street Journal, which was the first to publish the news, Dave Gray, president of Fidelity's workplace retirement solutions and platforms, said the scheme will initially be restricted to bitcoin, but that other digital assets will be made available in the future.


The news comes after US President Joe Biden signed an executive order in March mandating that the government study the dangers and benefits of developing a central bank digital currency, as well as other cryptocurrency concerns.