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February 5th - According to the National Medical Products Administration (NMPA), 50 batches of cosmetics were found to be non-compliant during the 2025 national cosmetics sampling inspection. The NMPA, in accordance with the "Regulations on the Supervision and Administration of Cosmetics," the "Measures for the Supervision and Administration of Cosmetics Production and Operation," and the "Measures for the Administration of Cosmetics Sampling Inspection," has instructed the drug regulatory authorities of Zhejiang, Guangdong, and Qinghai provinces to initiate investigations into the registrants, filers, and contract manufacturers involved in the aforementioned non-compliant cosmetics, and to order the relevant companies to take risk control measures and conduct self-inspections and rectifications in accordance with the law.February 5th - At a press conference held today (February 5th) by the State Council Information Office, the State Administration for Market Regulation introduced three key tasks for long-term governance: First, implementing a fee list system, cooperating with the National Development and Reform Commission to guide local governments and departments in establishing comprehensive lists of fees levied on enterprises, achieving full coverage of all fee items, strictly investigating fee collection activities outside the list, and ensuring that enterprises have clear guidelines for payment; second, promoting policy evaluation and review, comprehensively reviewing existing fee policies, and strictly reviewing newly introduced policies to prevent arbitrary charges from the source; and third, accelerating the construction of a long-term regulatory system, working with relevant departments to promote the promulgation of the "Measures for Handling Illegal and Irregular Fee Collection Activities Involving Enterprises," clarifying penalties, and strengthening the punishment of illegal and irregular activities.February 5th - At a press conference held by the State Council Information Office this morning (5th), a relevant official from the State Administration for Market Regulation introduced that they have implemented enterprise credit risk classification management for more than 64 million enterprises nationwide, achieving a problem detection rate of over 85% for high-risk enterprises, while "no disturbance" is taken for low-risk enterprises. At the same time, 14,900 seriously dishonest enterprises have been added to the "blacklist," and the problem of overdue payments by large enterprises is identified and addressed through annual report data analysis, achieving a balance between leniency and severity, and targeted policy implementation.The main Shanghai silver futures contract plunged 16.00% intraday, currently trading at 19,038.00 yuan/kg.February 5th - At a press conference held today (February 5th) by the State Council Information Office, the State Administration for Market Regulation stated that while the platform economy, as an important component of the social economy, has experienced rapid development in recent years, it also faces numerous challenges. By 2025, market regulators will adhere to a balanced approach of regulation and development promotion, focusing on problem-solving and combining short-term and long-term solutions, achieving significant progress in the governance of the platform economy ecosystem. In response to issues disrupting market competition, such as "verbal battles" and "subsidy wars" that have emerged in the food delivery industry since last year, the Administration has strengthened research and guidance for major food delivery platform companies, promptly conducted administrative interviews, drawn regulatory red lines, and promoted standardized promotions, rational competition, and law-abiding operation among food delivery platforms.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Stumbles Early

Cory Russell

Feb 06, 2023 15:51


Market Snapshot

This morning's session was diverse. The Hang Seng Index touched reverse this morning as market risk sentiment was affected by US economic statistics from Friday.


Fears of a more hawkish Fed action in March increased as a result of the significant increase in nonfarm payrolls and the decline in the US unemployment rate to 3.4%. The ISM Non-Manufacturing PMI figures allayed the immediate fears of a US economic downturn, providing the Fed even another justification for continuing to front-load to combat inflation.


Investors also reacted to Alphabet Inc. (GOOGL) and Apple Inc.'s (AAPL) dismal results and bleak outlooks, which helped to explain the NASDAQ Index's 1.59% decline on Friday.


There were no statistics or geopolitical developments this morning to influence the overall market risk attitude. The markets will require FOMC member talk to restore order after last week's US economic readings. The Fed Funds Rate is predicted to increase by 25 basis points to 5%. Any rumors of a more forceful action would be negative.