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On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, during which a report was heard on the construction of the national comprehensive transportation system. The meeting emphasized the need for coordinated advancement of transportation infrastructure construction, adhering to integrated planning and systematic integration, effectively utilizing existing resources and optimizing new supply. It stressed the importance of improving management and service levels, creating a more convenient travel environment to facilitate the smooth flow of people and goods, and promoting cost reduction, quality improvement, and efficiency enhancement in freight transportation. The meeting also called for deepening reform and innovation, building a unified and open transportation market, actively promoting the application of new technologies, developing new transportation business models safely and orderly, and cultivating more new growth points.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, which discussed and promoted work related to resolving local government debt risks. The meeting pointed out that since the implementation of the comprehensive debt reduction plan, significant progress has been made in resolving debt risks. It is necessary to continue focusing on key areas and weak links, improve policies supporting debt reduction, enhance local governments ability to repay debts independently, and ensure the timely completion of debt reduction tasks. It is also necessary to establish and improve a long-term mechanism to resolutely prevent the creation of new hidden debt.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, emphasizing the need to strengthen the planning and construction of water networks, new power grids, computing power networks, next-generation communication networks, urban underground pipe networks, and logistics networks. He stressed that efforts to ensure peoples livelihoods should focus on stabilizing employment and providing a safety net, while also improving education, healthcare, childcare, and rural development. He called for greater efforts and more concrete measures to strengthen basic research, placing it high on the agenda, identifying key areas and priorities based on both urgent national needs and long-term objectives, increasing investment through multiple measures, and fostering a favorable research environment.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, which reviewed and approved the "Draft Implementation Regulations of the Mineral Resources Law of the Peoples Republic of China." The meeting emphasized the need to strengthen the management of the entire mineral resource chain in accordance with the law, scientifically determine the list of strategic mineral resources, improve resource reserves and emergency response systems, and comprehensively enhance the level of mineral resource security.According to CCTV: Li Qiang chaired an executive meeting of the State Council to study and promote relevant work on resolving local government debt risks.

Tesla Shares Decline As Investors Criticize Musk's Twitter Activity

Aria Thomas

Dec 15, 2022 10:59

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On Wednesday, Tesla (NASDAQ:TSLA) shares reached their lowest level in more than two years as investors, including a "fanboy" of CEO Elon Musk, criticized Musk's diversion from the electric vehicle firm after his purchase of Twitter.


Tesla, the most valuable automaker in the world, has been one of the worst performing stocks among major automakers and tech companies this year. Investors are concerned that Musk's purchase of Twitter could divert his attention away from Tesla, and that he may sell more Tesla shares to prop up the struggling social media company.


Investors are also growing concerned that his actions could harm the reputation and sales of Tesla, the leading electric vehicle manufacturer in the world, which is facing increased competition.


KoGuan Leo, who identifies himself as Musk's "fanboy," tweeted on Wednesday, "Elon abandoned Tesla and Tesla has no working CEO." Leo is the third-largest individual stakeholder in Tesla and sees himself as Musk's "fanboy."


"Are we simply Elon's naive bagmen?" he asked. A Tim Cook-like executioner is required, not Elon.


After plunging as much as 3.2%, Tesla shares traded down 1.4% to $155.88 a share, the lowest level since November 18, 2020.


Tesla shares have declined 55% so far this year, underperforming GM, Ford, Apple (NASDAQ:AAPL), and Amazon.com.


Musk stated without elaboration on Tuesday that he will "ensure Tesla shareholders receive long-term benefits from Twitter."


Even Tesla bulls and devoted fans were dissatisfied with Musk's inflammatory statements.


"Elon is an incredibly gifted business leader. Gary Black, a Tesla bull, tweeted on Wednesday, "He will learn soon (if not already) that his controversial political views are affecting customer perceptions of $TESLA EVs."


"Clients do not want their automobiles to be controversial. They want to be damned proud to drive them, not ashamed."


Tuesday, Goldman Sachs (NYSE:GS) decreased its price target for Tesla shares and its expectations for the company's fourth-quarter deliveries and gross margins due to weaker supply and demand.