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Real-time News
On May 9, it was announced that, in order to strengthen the rule of law in the financial sector and improve the legal and regulatory system of the central bank, the Peoples Bank of China plans to formulate the "Business Processing Measures for the National Unified Centralized Account Management System" and is now soliciting public opinions.On May 9th, according to Spanish national television, European Central Bank President Christine Lagarde stated that the ECB is carefully weighing its response to the war with Iran and its impact on inflation to ensure it doesnt act too soon or too late. In an interview, Lagarde said policymakers face "enormous uncertainty" and need "more data" to understand the impact of the conflict. She declined to comment on whether the ECB would raise interest rates next month as many expect. She said, "We have been torn between the risks of acting too quickly and acting too late, and we must find the right path to guide our economy toward our 2% medium-term inflation target – that is our goal."On May 9th, the Peoples Bank of China announced that, in order to strengthen the rule of law in the financial sector and improve the legal and regulatory system of the central bank, it has revised four normative documents, including the "Measures for Handling Bank Draft Business of Urban Commercial Banks Relying on the Large-Value Payment System" (issued as Yinbanfa [2004] No. 206), resulting in draft documents for public comment. The deadline for feedback is June 9th, 2026.On May 9th, the State Administration for Market Regulation issued the "Implementation Plan for the Special Action to Raise the Threshold for Certification Bodies," deciding to organize a nationwide special action to raise the threshold for certification bodies from now until December. According to the plan, the special action deploys 15 specific measures in four aspects: strictly controlling institutional access, standardizing certification activities, improving certification capabilities, and strengthening supervision. These measures include: strictly controlling access and licensing in accordance with the law through measures such as improving the certification body qualification licensing review system, strictly reviewing certification body qualifications, strengthening expert technical review support, and implementing on-site verification of qualification compliance; standardizing certification activities through measures such as improving certification management methods, improving nationally unified certification rules, strengthening the filing and review of certification rules, and reinforcing the main responsibilities of institutions and personnel; promoting certification capabilities through measures such as increasing efforts to cultivate brand certification bodies, strengthening special supervision of accreditation, and enhancing the innovation capabilities of certification bodies; and strengthening supervision to promote the healthy and orderly development of the certification service industry through measures such as strengthening risk monitoring and early warning of certification activities, strengthening "random inspections and public disclosure," improving the effectiveness of intelligent supervision, and improving the institutional exit mechanism.On May 9th, the Ministry of Industry and Information Technology issued a notice to officially launch the Pilot Program for Ethical Review and Services of Artificial Intelligence Technology. Based in the provinces where the National Artificial Intelligence Industry Innovation and Application Pilot Zones are located, the program will explore the implementation path of ethical review and services for artificial intelligence technology, improve the multi-party participation and efficient governance mechanism, and support responsible innovation and high-quality development of the artificial intelligence industry.
