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July 23 – The "15th Five-Year Plan for the Revitalization and Development of Traditional Chinese Medicine" was released today, comprehensively outlining the work plan for traditional Chinese medicine during the 15th Five-Year Plan period. The plan clarifies the guiding principles, development goals, and indicators for comprehensively promoting the development of traditional Chinese medicine during this period. The plan proposes that by 2030, a more complete traditional Chinese medicine service system covering the entire population and the entire life cycle will be established; new breakthroughs will be achieved in the prevention and treatment of major diseases using traditional Chinese medicine; the quality of grassroots services will be improved and upgraded; basic research capabilities will be significantly enhanced; the innovation and creativity of the traditional Chinese medicine industry will be greatly strengthened; and the cultural and international influence of traditional Chinese medicine will be further enhanced. The revitalization and development of traditional Chinese medicine will reach a new level, ensuring that everyone has access to traditional Chinese medicine services.On July 23, according to Qichacha APP, Chengdu Jisu Engine Technology Co., Ltd. was recently established, with a business scope including natural science research and experimental development; engineering and technology research and experimental development; and agricultural science research and experimental development. Qichachas equity penetration analysis shows that the company is indirectly wholly owned by Douyin Co., Ltd.July 23 – Mizuho Securities economist Yusuke Matsuo stated that Bank of Japan Governor Kazuo Ueda is expected to reiterate his stance of seeking further interest rate hikes at next weeks press conference, but this is unlikely to reverse the yens weakening trend. "The market has largely priced in the Bank of Japans expectation of raising interest rates every six months, so such a statement alone is unlikely to significantly boost the yens exchange rate. Given market expectations that the central bank will clarify the timing and magnitude of the next rate hike, any stance interpreted as dovish could exacerbate the yens weakness in an environment of overall dollar strength." The market widely expects the Bank of Japan to keep its policy rate unchanged at 1% next week to assess the impact of the previous rate hike.On July 23, the China Federation of Logistics and Purchasing released the "2026 Digital Procurement Development Report." According to the report, the penetration rate of digital procurement among Chinese enterprises continues to increase, creating conditions for full-cycle digital management from bidding and tendering to procurement and contract fulfillment. Overall, my countrys total digital procurement volume reached 23.2 trillion yuan in 2025, with a digital penetration rate of 11.8%, an increase of 0.3 percentage points from the previous year. Since 2022, the penetration rate of digital procurement has increased year by year. Enterprise surveys show that in terms of large-scale models and intelligent agent applications, AI applications in 20 scenarios across eight stages of bidding and tendering are gradually being implemented, and the penetration rate of AI applications in procurement e-commerce exceeds 50%.Southern Securities double-leveraged long position in Hynix (07709.HK) surged over 10%, while Southern Securities double-leveraged long position in Samsung Electronics (07747.HK) rose over 8%.

The EUR/GBP exchange rate recovers above 0.8000 in advance of Eurozone inflation and UK gross domestic product

Alina Haynes

Mar 30, 2023 16:05

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The EUR/GBP pair extended its recovery above 0.88 during the Asian trading session. Anticipating that the European Central Bank (ECB) will continue to raise interest rates to combat persistent inflation, the cross has depreciated progressively. Friday will see the publication of preliminary Eurozone Harmonized Index of Consumer Prices (HICP) and Gross Domestic Product (GDP) (Q4) figures. Prior to the publication of these figures, it is anticipated that the asset will exhibit explosive activity.

 

It is anticipated that the preliminary Eurozone HICP will decelerate significantly from 8.5% to 7.3%. While it is anticipated that the core HICP will rise to 5.7% from 5.6% in the previous release. Weak energy prices are anticipated to have a significant impact on Eurozone inflation. In light of Christine Lagarde's prediction that inflation will remain elevated for an extended period of time, the European Central Bank (ECB) is expected to continue tightening monetary policy.

 

In the interim, banking tensions are subsiding as the absence of information regarding additional collateral damage has a positive impact on the market. Chief Economist Philip Lane stated on Wednesday that ECB interest rates must rise if banking tension has no or a "relatively limited" impact.

 

Investors avidly anticipate the United Kingdom's Gross Domestic Product (GDP) data. According to the consensus, the United Kingdom's growth in the fourth quarter of CY2022 remained unchanged. It is anticipated that the annual GDP will remain unchanged at 0.4%. It is expected that the British economy will undergo a severe recession as a result of high inflation and sluggish growth.

 

The Bank of England (BoE) policymakers appear confident that inflation will moderate in the near future and that the unexpected rise in February's inflation was a one-time anomaly; however, the absence of evidence raises doubts. If inflation persists, BoE Governor Andrew Bailey stated that additional rate increases would be announced. In contrast, Bank of America (BoA) analysts anticipate that the Bank of England (BoE) will not increase rates and will maintain current levels until 2024.


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