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The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.0 occurred near Gao County, Yibin City, Sichuan Province (28.54°N, 104.67°E) at 10:51 on July 28. The final result is subject to the official rapid report.Australian energy company Origin Energy: Data on approximately 900,000 current and former customers was accessed in a security breach. The investigation is ongoing.On July 28, Hu Jinglin, Director of the State Taxation Administration, stated at a press conference on the theme of "Starting the 15th Five-Year Plan" that since the beginning of this year, the tax authorities have resolutely rectified the "invoicing economy" and tax-related issues in illegal investment promotion, and have intensified their efforts to serve the construction of a unified national market. While eliminating "water" in invoicing, they have also promoted the repeal or amendment of 833 tax-related documents or agreement clauses in illegal investment promotion in various provinces and cities, and facilitated the relocation of nearly 160,000 enterprises that were registered in other locations to enjoy some irregular subsidies and other reasons back to their actual operating locations. Moreover, the tax payments of these enterprises after relocation increased by 16% year-on-year in the first half of this year.On July 28th, Futures News reported that the "Ecological Environment Code of the Peoples Republic of China" will officially come into effect on August 15, 2026. As my countrys second code and the worlds first national-level ecological environment code, it integrates more than ten scattered environmental protection laws, unifies enforcement standards, significantly increases penalties for environmental violations, implements a dual-penalty system, and addresses shortcomings in the supervision of livestock pollution at its source. The official implementation of the "Ecological Environment Code of the Peoples Republic of China" marks a milestone in the domestic ecological environment protection legal system. For the livestock and aquaculture industries, the integration and unification of scattered environmental regulations, the elevation of livestock pollution control to the code level, and the tightening of regulatory standards and legal responsibilities mark a significant shift from fragmented regulation to a fully standardized and legalized "code era." From site selection and planning, environmental impact assessments and pollution discharge permits, to the harmless treatment of manure and waste management, a complete regulatory framework has been established. Environmental protection is no longer an option for enterprises, but a rigid bottom line for the survival and development of livestock entities, forcing the industry to accelerate green transformation and the resource utilization of manure, and promoting the shift of the livestock industry from scale expansion to high-quality and sustainable development.On July 28, Hu Jinglin, Director of the State Taxation Administration, introduced at a press conference held by the State Council Information Office that in the first half of this year, tax reductions and exemptions implemented by the state in areas such as elderly care, medical care, education, and employment increased by 11.8% year-on-year; 126 million people enjoyed special additional deductions for individual income tax on elderly care, medical care, and education, an increase of 5.9% over the previous year, with tax reductions exceeding 320 billion yuan, an increase of 8.2% over the previous year. Meanwhile, the tax authorities, in collaboration with the human resources and social security departments, actively promoted the pilot program for occupational injury protection for workers in new employment forms. Since July 1, the pilot program has been expanded nationwide, benefiting a total of 29.1 million people.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.