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Real-time News
ECB Governing Council member Kazak said there is no need to rush to deal with energy prices driven up by the war with Iran.According to the Financial Times, senior European Central Bank policymakers say the ECB has “ample” capital to wait before raising interest rates.New Zealand Prime Minister Lukeson: Japan is an important fuel supplier to New Zealand and will continue to be so.It is reported that several trust companies recently received the "Interim Measures for the Administration of Asset-Serviced Trusts (Draft for Comments)" issued by regulators. The Measures, comprising six chapters and forty-seven articles, not only clarify the definition, business classification, and operating principles of asset-serviced trusts, but also stipulate that trust companies must strictly adhere to the provisions of these Measures in conducting asset-serviced trust business and are prohibited from using the name of asset-serviced trusts to substantively conduct asset management trust business. The Measures also explicitly require that the investment amount of a single asset-serviced trust in the same asset shall not exceed 25% of the paid-in capital of the trust, except for bank demand deposits, treasury bonds, central bank bills, policy bank bonds, and local government bonds, and except for securities investments made entirely according to the composition ratio of relevant indices. Non-standardized assets of a single entity and its related parties are considered as the same asset and the aforementioned ratio is calculated collectively. For private asset management products where asset-serviced trusts invest in underlying assets involving non-standardized assets, trust companies must thoroughly identify the non-standardized assets and calculate the aforementioned ratio accordingly.On April 22, Hu Jinglin, Director of the State Taxation Administration of the Peoples Republic of China, met with Daniel Egorov, Head of the Federal Tax Service of the Russian Federation, in Beijing on April 21. The two sides held in-depth exchanges on topics such as the digital transformation of tax administration, BRICS tax cooperation, and the establishment of a tax administration cooperation mechanism under the Belt and Road Initiative. During the meeting, Director Hu Jinglin and Head Egorov jointly signed the "Memorandum of Understanding on Cooperation between the State Taxation Administration of the Peoples Republic of China and the Federal Tax Service of the Russian Federation."
