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On September 4th, the State Radio Office issued a notice regarding the pilot evaluation of third-party agencies for domestic satellite network coordination (2026-2027). The notice outlines three key aspects: First, it clarifies the applicable conditions for the evaluation, allowing for the use of third-party assessments to resolve issues such as unreasonable coordination requirements, unclear standards, disputed technical analyses, and ambiguous frequency compatibility conclusions, where repeated coordination and consultation fail to reach a consensus. Second, it outlines the evaluation procedures, including the selection of third-party agencies, the implementation of the evaluation, and the application of the evaluation results. Third, it specifies the requirements for the evaluation, including objective and impartial assessment, strict confidentiality, prohibition of illegal or irregular assessments, and timely feedback of opinions and suggestions.September 4th - According to the latest tax data released by the State Taxation Administration, since the beginning of this year, tax authorities have implemented various tax and fee reduction policies to support urban renewal, resulting in a total tax and fee reduction and refund of 487 billion yuan in the first half of the year. Specifically, in the first half of the year, policies such as exempting public rental housing from value-added tax and deed tax, and continuing preferential policies on personal income tax for residents purchasing new homes to support meeting the rigid and improved housing needs of the public, resulted in tax and fee reductions and refunds of 209.8 billion yuan. Policies such as allowing a certain percentage of investment in special equipment for environmental protection, energy conservation, water conservation, and safe production to be deducted from corporate income tax payable, and exempting urban public transport companies from vehicle purchase tax on public buses and trolleybuses, to support the construction of green and low-carbon cities, resulted in tax and fee reductions and refunds of 168.4 billion yuan.On September 4th, according to Qichacha APP, Wuhan Xinrongguang Technology Co., Ltd. was recently established, with Sun Peng as the legal representative and a registered capital of 13.2 billion yuan. Its business scope includes integrated circuit design; integrated circuit chip design and services; integrated circuit chip and product manufacturing; and power electronic component manufacturing. Qichachas equity penetration analysis shows that the company is jointly held by Wuhan Xinxin Integrated Circuit Co., Ltd. (a subsidiary of Yangtze Memory Technologies Co., Ltd.), Wuhan Optics Valley Semiconductor Industry Investment Co., Ltd., and China Internet Investment Fund (Limited Partnership), among others.September 4th - As a major global player in the power battery industry, my country has recently been actively promoting the development of international standards in key areas such as power battery thermal management and the recycling of retired batteries within the framework of international organizations like the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), based on its industrial practices. This aims to provide standardization support for the coordinated development of the global power battery industry. Going forward, the State Administration for Market Regulation will guide more professionals in the production, use, and recycling of power batteries to participate in international standards research, deepen practical exchanges on standardization with other countries, and contribute to the high-quality and sustainable development of the new energy industry throughout its entire lifecycle.Tesla (TSLA.O) Robotaxi announced that its Cybercab driverless ride-hailing service will be open to the public for test rides starting at 5 p.m. Central Time on Friday (6 a.m. Beijing Time the following day).

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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