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June 3rd - The Regional Comprehensive Economic Partnership (RCEP) will mark its third anniversary of full entry into force in June 2026. According to the Guangdong Sub-Administration of the General Administration of Customs, since June 2, 2023, Guangdong ports have imported a total of 53.8 billion yuan worth of goods enjoying preferential tariff treatment, resulting in tariff reductions of 1.4 billion yuan. Tax reductions have seen significant growth for three consecutive years, with year-on-year increases of 8.81%, 32.35%, and 32.12% respectively in 2023, 2024, and 2025. According to a relevant official from the Comprehensive Business Department of the Guangdong Sub-Administration of the General Administration of Customs, the customs has continuously optimized the level of RCEP customs clearance facilitation, helping enterprises to make good use of the RCEP rules of origin based on their own product and industry characteristics, guiding enterprises to scientifically choose the "optimal option" for preferential treatment, actively cultivating and recognizing "approved exporters," and realizing the superposition of policy dividends for customs advanced certified enterprises, thus continuously releasing the benefits of tariff reductions.Hong Kong-listed tech stocks continued to decline during the session, with Meituan (03690.HK) falling more than 6%, Kuaishou (01024.HK) and Bilibili (09626.HK) falling more than 5%, and Tencent Holdings (00700.HK) and JD.com (09618.HK) currently down more than 4%.Apple futures (2610 contract) surged during the session, with gains widening to 1.99%, and the latest price at 7733 yuan/ton; the trading volume was approximately 7.659 billion yuan, with nearly 600 lots added to open interest during the day, and both trading volume and open interest activity increased simultaneously.Documents from Petronas, Malaysias national oil company, show that the official selling price for Malaysian crude oil in May was set at a premium of US$126.80 per barrel.Fitch: New Zealands early return to surplus still depends on economic growth.

Owning Government Officials From Working on Regulation

Cory Russell

Jul 07, 2022 16:31

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Government personnel who actively engage in cryptocurrencies or are discovered to be in possession of any are prohibited from taking part in the creation of legislation and policies pertaining to cryptocurrencies, according to a recent directive from the US Office of Government Ethics.

With Some Exceptions

Additionally, the advisory notice made clear that even if the restriction is in effect, it only does so with a de minimis exception.


Owners are still able to invest in cryptocurrencies via publicly listed shares and mutual funds of businesses offering cryptocurrency and blockchain services because to this exception. Stablecoins and all other forms of cryptocurrency are included.


Government personnel are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.


They may still work on such initiatives, however, provided they divert their cryptocurrency holdings into other financial opportunities.


The notification went on to further describe the situation, saying "An employee may not engage in a specific topic if the employee understands that particular item might have a direct and predictable influence on the value of their cryptocurrency or stablecoins."


However, even for those who are permitted to invest in cryptocurrency-related stock index listings, a $50k threshold has been imposed over which the de minimis exemption is no longer applicable.

Crypto investors suffer a loss

The cryptocurrency market isn't in the greatest of health right now, even if the Biden administration is concentrating on creating laws for cryptocurrencies after the POTUS issued an executive order for the same.


The continued bearishness is having an impact on cryptocurrency firms as the overall market value of all cryptocurrencies is struggling to reach $1 trillion.


Voyager Digital has filed for Chapter 11 bankruptcy a week after stopping the platform's withdrawal, trading, and deposit services after Harmony almost went bankrupt a while back.


Thus, even without the US GOE's decision, it would only have taken these investors a little longer to leave the market, similar to how many other investors are already doing.

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