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Real-time News
On June 24, the State Council Information Office held a press conference to introduce the "Law of the Peoples Republic of China on Promoting Ethnic Unity and Progress" and related information on my countrys ethnic work. The press conference revealed that from 2012 to 2025, the GDP of the five autonomous regions of Inner Mongolia, Guangxi, Tibet, Ningxia, and Xinjiang will increase from 3.25 trillion yuan to 8.66 trillion yuan, with all ethnic groups embarking on a new journey of Chinese-style modernization.June 24th - The Bank of Japan (BOJ) signaled in its board meeting minutes last week that further increases in benchmark interest rates are necessary. At last weeks meeting, the BOJ raised its policy rate to its highest level since 1995. According to the minutes released Wednesday, a board member stated, "Given that core CPI inflation is approaching 2% and financial conditions are relatively loose, the central bank should continue to raise the policy rate to address the current economic, inflationary, and financial conditions." The BOJ implemented its first rate hike since December last week and clearly indicated that it would continue to raise rates in the future, but the minutes did not provide clear guidance on the timing of the next rate hike. Nevertheless, the minutes reinforced market expectations for another rate hike before the end of the year. A survey of economists the day after the meeting showed that about 90% of respondents expected another rate hike before December, with more than a third expecting October to be the next adjustment window. Economists currently expect the current rate hike cycle to reach 1.75%, higher than the 1.5% predicted in a survey earlier this month.On June 24, it was reported that on June 23, Meng Fanli, Deputy Secretary of the Guangdong Provincial Party Committee, Secretary of the Party Group of the Provincial Government, and Governor of Guangdong Province, presided over a meeting of the Party Group of the Provincial Government and an executive meeting. The meetings discussed and implemented the spirit of the meetings on promoting the joint construction of the Guangdong-Hong Kong-Macao Greater Bay Area International Science and Technology Innovation Center by the central and local governments and the symposium on accelerating the development of the new mechatronics industry in Guangdong. The meetings emphasized adhering to goal-oriented and results-oriented approaches, refining work details, establishing ledgers, and vigorously implementing key tasks. They stressed strengthening basic research and original innovation capabilities, promoting mutual reinforcement between industry and technology, accelerating the cultivation and attraction of global scientific and technological talent, building a system and mechanism to support comprehensive innovation, and working with Hong Kong and Macao to accelerate the creation of a world-class source of scientific and technological innovation. The meetings also emphasized the need to simultaneously promote the upgrading of the mechatronics industry and the development of artificial intelligence, advancing work in areas such as tackling new technologies, building new business models, shaping new market players, expanding new markets, and establishing new mechanisms, striving to create a world-class new mechatronics industry cluster.On June 24, the Taiwan Affairs Office of the State Council held a regular press conference. A reporter asked: The spokesperson for the Taiwan Affairs Office previously explained six of the "seven better things" for Taiwan after peaceful reunification, which has attracted high attention from public opinion on both sides of the Taiwan Strait. What is the spokespersons explanation of "after peaceful reunification, with a strong motherland as a backing, Taiwans foreign exchanges will be better"? Spokesperson Zhang Han stated that after peaceful reunification, with a strong motherland as a backing, Taiwan compatriots will share the dignity and glory of a great nation with their mainland compatriots. They will have a stronger voice, greater confidence, greater security, and greater dignity in the international arena, enjoying unprecedented development opportunities. Taiwans channels for foreign exchanges will be comprehensively broadened. Taiwan compatriots will participate in international affairs as masters of their own destiny. Taiwanese businesses will be deeply integrated into the global supply chain and industrial chain, enjoying greater development space and stronger competitiveness in the global market. Taiwan compatriots will receive more convenient and smoother support and assistance from the motherland overseas.On June 24, South Koreas Ministry of Oceans and Fisheries announced that some South Korean vessels stranded in the Strait of Hormuz were leaving. The ministry stated that, considering the vessels were navigating in high-risk waters, crew safety, and the shipowners positions, it could not release specific information. The Strait of Hormuz was closed from late February following the outbreak of the Middle East war, leaving 26 South Korean vessels stranded. After the US-Iran peace agreement reached this month, two South Korean ships left. As the Ministry of Oceans and Fisheries did not disclose the number of ships that left, the number of South Korean vessels still stranded in the strait remains unknown.
