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July 4th - Q: Could you please explain the main considerations for revising the E-commerce Law? A: First, its necessary to promote win-win development for platform enterprises and operators/workers within the platforms. Second, its necessary to maintain a fair and competitive market environment. E-commerce platform operators are important participants in online market governance, possessing the dual attributes of operators and managers. Its necessary to revise the E-commerce Law to improve the legal liability system for platforms, solidify their primary responsibilities, encourage them to strengthen compliance, and drive related business entities to jointly create a healthy online market environment. Third, its necessary to promote high-quality economic development. A standardized and orderly market order is an important guarantee for the healthy development of various business entities in the platform economy. Its necessary to revise the E-commerce Law to improve the regulatory mechanism, enhance regulatory methods, and strengthen regulatory effectiveness from a legislative perspective, guiding various business entities in the platform economy to shift from "traffic-first" to "innovation-driven," and from "price-driven" to "quality-driven," better promoting the development of new productive forces and serving the overall high-quality development strategy. Fourth, its necessary to expand high-level opening-up. E-commerce is one of the key areas for steadily expanding institutional opening-up and holds an important position in global digital economy competition. It is necessary to amend the E-commerce Law to improve and add provisions on open cooperation, industry self-regulation, countermeasures against foreign countries, consultation and dispute resolution, so as to further expand the opening up of the e-commerce sector and create a favorable legal environment for the orderly overseas expansion of my countrys e-commerce.On July 4th, SemiAnalysis, a leading research firm specializing in semiconductor and AI infrastructure, published an article stating that the proportion of memory in hyperscale data center capital expenditures has sparked considerable discussion, especially after Micron Technologys earnings report last week. Some market participants are alarmed by how high this proportion might be next year. The firm stated that after releasing its initial views at the end of February, many clients questioned its 30% figure: "Memory only accounts for a dozen percentage points of the server BOM. How can overall capital expenditure be so high?" In May, after prices rose even faster than expected, SemiAnalysis directly responded that, combining DRAM, NAND, and HBM, memory expenditures in Nvidia systems will exceed 30% by the end of 2026 and surpass 40% in 2027. The firm expects the market to gain a fuller understanding of this trend in the coming months.Conflict Status 1. The Israeli military claims to have struck approximately 10 Hezbollah facilities in southern Lebanon. 2. The Houthi rebels claim Saudi warplanes violated Yemeni airspace. Further attacks by Saudi Arabia would be met with "strikes targeting Saudi airports and vital objectives." US-Iran Negotiations 1. Irans acting defense minister: will respond to violations of the agreement. 2. The International Atomic Energy Agency: has not yet been granted access to Iranian nuclear facilities. 3. Iranian Parliament Speaker Ghalibaf: The US and Israel have failed to achieve any of their objectives in the war. All parties have now concluded that the military action against Iran has failed. The US should accept regional realities and call for the lifting of sanctions. Strait of Hormuz 1. Iranian Parliament Speaker Ghalibaf: will not allow US interference in the Strait of Hormuz. 2. Iranian Parliament Speaker Ghalibaf: The Strait of Hormuz should be jointly managed by Iran and Oman. 3. Data shows that the UAEs crude oil exports reached a record 3.7 million to 3.8 million barrels per day in June. 4. Data shows that Gulf region oil exports in June increased by more than 3 million barrels per day compared to May, exceeding 10 million barrels per day, but are still 40% lower than pre-war levels. Other developments: 1. Iran held a farewell ceremony for the late Supreme Leader Khamenei. 2. European Commission President Ursula von der Leyen: Israeli settlement expansion is unacceptable. 3. According to Reuters, sources say Japanese oil buyers are in preliminary talks with Iran regarding crude oil purchases. 4. According to Axios: Trump spoke with Netanyahu by phone on Friday. The Israeli Prime Ministers office stated that both sides agreed to hold a meeting in the United States soon.Claude: We are investigating anomalous errors occurring in multiple models.Conflict Update: 1. Ukraine reports 30 deaths in attack on Kyiv. 2. Russia reports 5 deaths and 18 injuries in Ukrainian attack on Zaporizhye. 3. Putin announces Russian forces have "completely liberated" Luhansk. 4. Russian Ministry of Defense claims control of Oleksandrivka in Ukraine. 5. Russian Ministry of Defense: Over the past week, Russian forces destroyed numerous Ukrainian military industrial facilities, energy and logistics facilities used by the Ukrainian military, as well as Ukrainian military airfields and ammunition depots. 6. Ukraines Security Service: Drones attacked two Russian military airfields in Crimea. Preliminary information indicates at least seven fighter jets were damaged in the attack. Other Updates: 1. Russia increases refinery subsidies in June to address fuel shortages. 2. Zelensky calls for Patriot missile production in Ukraine. 3. Poland says it will carefully consider making new financial support commitments to Ukraine. 4. NATO senior commander: Europe has largely filled the gap left by US military reductions. 5. NATO plans to pledge €70 billion in military aid to Ukraine in 2026 and “at least the same level” of support in 2027.
