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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.

GBP/JPY Meets Resistance Near 158.00 As UK GDP Forecasts Weaken

Daniel Rogers

Feb 08, 2023 14:47

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The GBP/JPY pair has detected selling attention despite striving to extend recovery above the critical resistance of 158.00 in the Asian session. The less-confident pullback move by the Pound Sterling has been fined and the negative path for the cross has continued.

 

On Tuesday, the cross was heavily dumped by the market participant. Additionally, Bank of Japan (BoJ) officials admitted a covert operation to support the Japanese Yen.

 

Meanwhile, the impact of appointing BoJ Deputy Governor Masayoshi Amamiya as BoJ Haruhiko Kuroda's replacement has begun to be felt on the street. OCBC analysts examined the impact of each contender for BoJ's new leadership on the Japanese yen.

 

According to a letter from OCBC, "this week's focus will be on the list of BoJ nominees that is anticipated to be handed to parliament on 10 February, however reports indicate a postponement until next week." Amamiya’s appointment would be most advantageous to the Japanese Yen upward but Yamaguchi’s appointment might drag down Yen’s strength.

 

On the front of the United Kingdom, the Bank of England (BoE) has failed to meaningfully lower inflationary pressures despite being an early adopter of tight monetary policy throughout the pandemic and pushing interest rates to 4%. As a result of their inability to meet key expenses, households are suffering from the effects of a growing cost of living.

 

As reported by Reuters, according to a report from Britain's National Institute for Economic and Social Research (NIESR), "one in four British households would be unable to pay for food and energy without using up savings, borrowing, or seeking other assistance in the 2023/24 financial year, up from one in five in the current year."

 

The agency has cut its predictions for the Gross Domestic Product (GDP) from 0.7% to 0.2% and from 1.7% to 1.0% for 2024. Governor of the Bank of England Andrew Bailey's decision to boost interest rates in order to attain price stability has lowered the scale of economic activities.


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