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Real-time News
On September 19th, it was reported that the Beijing Municipal Administration for Market Regulation, based on the work deployment of the State Administration for Market Regulation and preliminary investigations, has initiated investigations into four online hotel and travel booking platforms for suspected illegal activities. In response, Meituan issued a statement saying that its online hotel booking platform, Meituan Travel, and others received notification from the Beijing Municipal Administration for Market Regulation that the authorities are investigating these companies for suspected violations of market supervision laws and regulations. Meituan Travel will actively cooperate with the regulatory authorities investigation, fully implement regulatory requirements, and work with all parties in the industry to build a sustainable market environment.September 19th - From the evening of September 18th to the early morning of September 19th, the Saudi Civil Defense issued a series of security alerts covering areas including Riyadh, Jeddah, Khaliq, Abha, Al-Ulah, Jizan, Yanbu, Khamis Mushait, Taif, and the Firasan Islands, with explosions reported in multiple locations. The Chinese Embassy and Consulates in Saudi Arabia reiterate their reminder to Chinese-funded institutions and citizens in Saudi Arabia to strengthen their security precautions and to take immediate evacuation measures as required by the alerts. Do not photograph military operations or spread unverified information. Passengers with air travel plans should maintain close contact with their airlines to avoid disruptions to their travel plans. In case of emergency, please contact the police immediately and the Chinese Embassy or Consulates in Saudi Arabia.On September 19th, the German government announced on the 18th that it had reached an agreement with the federal states on a package of tax relief measures, including a new round of fuel tax cuts and a fuel price cap, to alleviate the pressure on residents and businesses caused by persistently high fuel prices. According to the plan, the German government will reduce the energy tax, resulting in an actual reduction of approximately 17 euro cents per liter for gasoline and diesel. The measures are scheduled to be implemented by October 1st and will continue until the end of this year, with a total tax reduction of approximately 2.5 billion euros. This fuel tax cut is similar to the temporary measures implemented in May and June this year, which were expected to reduce tax revenue by 1.6 billion euros this year.On September 19th, Li Xunlei, Chief Economist of Zhongtai International, stated at the Tsinghua PBC School of Finance Chief Economist Forum that global economic imbalances are difficult to avoid; imbalance is the norm, and balance is temporary. Over time, any system will inevitably lead to imbalances; no system is perfect, therefore continuous reform and adjustment are necessary. Currently, in my countrys dual circulation economic model, the international circulation is relatively smooth, but the domestic circulation is not, and the latter is a problem that urgently needs to be addressed. Regarding smoothing the domestic circulation, Li Xunlei suggested promoting fiscal and tax reforms to increase the central governments financial resources. "Facts have shown that over the years, the efficiency of local government debt has been low. my countrys institutional advantages have not been well reflected in the fiscal and tax field. Promoting fiscal and tax reforms can greatly enhance fiscal support for investment and consumption," Li Xunlei said.Saudi Arabias Civil Defense Ministry announced that the alert for the Riyadh and Khairji areas has been lifted.
