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Real-time News
On June 11th, Liu Xiaochun, director of the Internet Rule of Law Research Center at the Chinese Academy of Social Sciences University, pointed out that the competition among platforms to offer "billions in subsidies" may trigger "involution" competition, which is detrimental to the healthy development of the industry. In particular, irrational large-scale subsidies not only distort market price mechanisms, but some platforms even stipulate that merchants bear all the subsidies, putting them in a dilemma: no traffic without price reductions, and losses without price reductions. This severely squeezes profit margins, making it difficult for merchants to survive and hindering industry innovation and upgrading. Furthermore, many platforms unilaterally exempt themselves from liability in non-force majeure circumstances in their rules, increasing consumer risk.Bahrains media affairs advisor: Bahrains air defense system intercepted and destroyed Irans "air strikes".June 11th - The 2026 China International Financial Exhibition, guided by the Peoples Bank of China, supported by the Shanghai Municipal Party Committee and Government, and hosted by the China Financial Electronic Payment Group, will be held in Shanghai from June 16th to 18th. This years exhibition will feature a special section showcasing the achievements of Chinas payment system construction, deepen cooperation with the Digital Currency Research Institute, and hold special events such as operational signing ceremonies and payment scenario releases, focusing on the construction of the Digital RMB Operation and Management Center and International Operation Center. A dedicated Digital RMB exhibition area will also be jointly created with market institutions.On June 11th, Henry McVey, Chief Investment Officer of the Balance Sheet and Head of Global Macro and Asset Allocation at KKR, stated in a report that inflation levels in most major economies are likely to remain persistently higher than expected. Geopolitical shocks such as the Iran conflict are becoming more frequent. The goods sector, which had been in deflation for six consecutive years before the COVID-19 pandemic, is now showing a more pronounced inflationary trend. The report projects a US Consumer Price Index (CPI) of 3.6% in 2026 and 2.5% in 2027, compared to market consensus forecasts of 3.3% and 2.4%, respectively. Inflation forecasts for Europe and Japan are also higher than market consensus.On June 11th, Yoshimasa Maruyama, an economist at Sumitomo Mitsui Nikko Securities, stated that any significant changes that might result from Bank of Japan Governor Kazuo Uedas absence from next weeks meeting are likely limited to the post-meeting press conference. Investors have historically perceived Uedas statements as slightly dovish compared to the views expressed in the central banks outlook report or opinion summary. If Deputy Governor Shinichi Uchida adopts more neutral language at the post-meeting press conference, the market might interpret this as a hawkish signal compared to Uedas consistent stance. However, given Uedas expected return at the July meeting, this temporary change in wording should not be interpreted as a shift towards a more hawkish approach in actual policy management.
