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On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan". Xin Guobin, Vice Minister of Industry and Information Technology, said that during the 15th Five-Year Plan period, efforts should be made to cultivate growth drivers, promote the deep integration of scientific and technological innovation and industrial innovation, develop new productive forces according to local conditions, adhere to the principle of "industry posing questions, science and technology answering questions", strengthen the construction of public technology service platforms, pilot testing platforms and other carriers, promote the rapid transition of original technologies to pilot testing and achieve large-scale application, actively explore and cultivate new scenarios, new business forms and new models, and expand the supply of high-quality products to meet the consumption needs of different groups.On August 26, the State Council Information Office held a press conference on the theme of "Starting the 15th Five-Year Plan." Xin Guobin, Vice Minister of Industry and Information Technology, stated that during the 15th Five-Year Plan period, significant efforts will be made to create a favorable ecosystem. We must act as a supportive "family member" for enterprises, implement key tasks for deepening reform, strengthen planning guidance, standardization, policy guarantees, and high-level opening-up and cooperation to create a sound industrial ecosystem. We must strengthen legislative research in emerging fields such as the digital economy and artificial intelligence, improve the mandatory standards system in the industrial and information technology sector, and use standards improvement to support the high-quality development of the industry. We must intensify efforts to clear overdue payments to enterprises, continue to implement special actions to reduce the burden on enterprises, and further enhance the sense of gain for enterprises, especially small and medium-sized enterprises.On August 26, Yao Jun, Director of the Planning Department of the Ministry of Industry and Information Technology, stated at a press conference held by the State Council Information Office that during the 15th Five-Year Plan period, we will organize and implement a revitalization action for traditional industries, strengthen the guidance of national standards, empower with digital and green technologies, and constrain environmental and safety regulations to consolidate the foundation, improve quality, build brands, and accelerate the improvement of the quality and efficiency of traditional industry development. First, we will focus on technological transformation. This is an important means to promote the transformation and upgrading of traditional industries. We will deepen the pilot projects for new technological transformation in manufacturing cities, strengthen technological innovation, equipment upgrading, and model innovation, and vigorously promote new technological transformation aimed at improving quality and efficiency, focusing on the application of digital and intelligent technologies and green and low-carbon technologies, to promote the intelligent, green, and integrated development of traditional industries. For example, in the petrochemical industry, we will accelerate the upgrading and transformation of old equipment, fully utilize digital and intelligent technologies and green technologies to effectively reduce safety and environmental risks, achieve synergistic effects in pollution reduction and carbon reduction, and promote high-quality development of the industry. Second, we will focus on standard improvement. We will implement an action to guide the optimization and upgrading of traditional industries through standard improvement. Third, we will focus on quality upgrading.On August 26, the National Food and Strategic Reserves Administration announced that the 11th APEC Ministerial Meeting on Food Security was held in Hangzhou, Zhejiang Province on August 25. The meeting adopted and released the "Principles Paper on Enhancing the Resilience of Food Systems in the Asia-Pacific Region through Innovation and Digitalization," calling on economies to apply innovative achievements and digital technologies such as artificial intelligence to improve decision-making capabilities, interconnectivity, and responsiveness across the entire food system chain. This aims to help food systems better anticipate risks, withstand shocks, adapt to changes, and restore production capacity, thereby improving operational efficiency and overall effectiveness.On August 26, the State Council Taiwan Affairs Office held a regular press conference. Spokesperson Zhang Han stated that the construction of the Xiamen-Kinmen Bridge is a shared aspiration and urgent wish of the people of both Xiamen and Kinmen. Once fully operational, the Xiamen-Kinmen Bridge will facilitate travel between the two places and boost Kinmens economic development and improve peoples livelihoods. Zhang Han also stated that the DPP authorities should face up to the interests and demands of Kinmen residents, stop political calculations, truly work for the benefit of the people, and support the early completion and opening of the Xiamen-Kinmen Bridge.

Thai Energy Firm Gulf Concludes Investments in Binance.US and BNB

Cameron Murphy

Apr 20, 2022 09:43


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  • In Thailand, Gulf Energy Development and Binance have formed a joint venture.

  • Gulf has invested in Binance's US subsidiary and its flagship cryptocurrency, BNB.

  • In Thailand, the business will seek for a license to operate a digital asset exchange.


Gulf Energy Development PCL, owned by Thai billionaire Sarath Ratanavadi, has completed an investment in Binance's US branch and its hallmark cryptocurrency, BNB.


The move follows the announcement in January of a cooperation between the two companies to develop a digital asset market in Thailand. The partnership, according to Binance, is the "initial step" in investigating potential in Thailand. Despite this, the Thailand regulator has filed a criminal complaint against the exchange for operating without a license.

Investment To Deepen Crypto Market Involvement

Gulf disclosed its investment in Series Seed Preferred Stock issued by BAM Trading Services, which runs Binance, in a regulatory filing with the Thailand Stock Exchange on Monday. US.


"As a result, the Binance investment.


The United States not only allows the Company to participate in one of the world's quickest user scale-up exchanges, but it also offers the possibility of increased investment value after Binance.


IPO in the United States."


According to CEO Brian Shroder, Binance is planning an initial public offering (IPO) in two to three years. The cash will be used by Binance's US subsidiary to increase staff and product range, undertake ROI-based marketing campaigns, and make additional acquisitions ahead of its anticipated IPO, according to the filing.


Gulf also put money into Binance Coin (BNB), the native cryptocurrency that runs the BNB Chain ecosystem, for an unknown amount.


The business also announced a joint venture deal with Binance to establish a crypto exchange in Thailand, according to another regulatory filing.


"Following the formation of the joint venture, it will apply to appropriate authorities for a digital asset exchange license and other licenses."


Last week, Binance announced that it has gained primary permission from Abu Dhabi Global Market for its activities. Binance will be able to operate as a virtual assets broker-dealer as a result of the clearance, marking the company's third aggressive expansion in the Middle East after securing licenses in Bahrain and Dubai.


The joint venture, according to Gulf, would provide it greater opportunity to investigate the digital asset sector and expand the scope of its investments.

Thailand Crypto Tax

Thailand, however, prohibited cryptocurrency payments last month, citing price volatility, a lack of user safety, money laundering, and cyber-theft concerns as major factors in the decision.


Crypto firms would "not be authorized to promote or market crypto payments," according to the banking authority.


Following public criticism, the nation first planned a 15% tax on crypto assets, but eventually abandoned its proposals. However, when contrasted to India's 30% tax rate, this seems to be considerably less.