Real-time News

On May 25, the Ministry of Human Resources and Social Security and four other departments jointly released the "Interim Provisions on the Protection of the Basic Rights and Interests of Over-Age Workers," which will take effect on July 1. This is my country's first dedicated regulation clearly defining the rights and interests of over-age workers, filling a gap in the country's current labor laws and regulations. It clarifies the rights and obligations of employers and over-age workers, guaranteeing their legitimate rights and interests, including wages, rest and leave, occupational safety and health, and work-related injury protection.

ECB Governing Council member Stournaras: If inflation is significantly higher than the target level, monetary policy should be adjusted in a balanced and prudent manner to move it toward a tighter stance.

ECB Governing Council member Stournaras: We must ensure that inflation returns to the 2% medium-term target.

On May 25th, according to futures market news, in the past week, the average production-to-sales ratio of gasoline vehicles at Shandong local refineries was 77%, a decrease of 1 percentage point from the previous week; the average production-to-sales ratio of diesel vehicles was 88%, an increase of 8 percentage points from the previous week. Regarding gasoline, the lack of holiday support and commuting by residents resulted in a lack of positive factors to boost gasoline demand, with small-volume purchases at the terminal level leading to continued sluggish sales in the gasoline vehicle market. Regarding diesel, demand was supported by industries such as engineering infrastructure and logistics transportation. Additionally, last week, influenced by market news, there was a strong "buy high" sentiment at the terminal level, leading to a short-term improvement in Shandong's diesel market, and the production-to-sales ratio of diesel vehicles increased slightly compared to the previous week.

The dollar fell 0.45% against the Swiss franc to 0.7816, a new low in 11 days.

ECB Governing Council member Stournaras: The closure of the Strait of Hormuz could have secondary effects on wages and prices of goods and services.

The chart shows that at 22:00 Beijing time on May 25th, there will be large foreign exchange options contracts for Euros, British Pounds, Japanese Yen, etc., expiring. There are 5 large contracts with strike prices exceeding 1 billion. Please manage your risks.

On May 25th, it was learned from the National Medical Products Administration (NMPA) that my country's "Compliance Guidelines for Online Prescription Drug Retail" have just been released. Addressing current issues in online drug sales such as selling drugs without a prescription, inadequate prescription verification, and false advertising, the NMPA sets forth clear regulatory requirements for drug sellers, sales practices, and e-commerce platforms. Zheng Wei, Deputy Director of the Drug Supervision Department of the NMPA, stated that the compliance guidelines clarify that online prescription drug retail must adhere to the core requirements of "prescription-based, strict verification, traceability, and risk control," controlling risks at the source and promoting the healthy and sustainable development of the online drug sales industry while strictly adhering to the bottom line of drug quality and safety.

India's Finance Minister: High international crude oil prices, rising fertilizer prices, and soaring gold prices have brought some challenges to the external economic environment.

On May 25, Foreign Ministry Spokesperson Mao Ning held a regular press conference. A reporter asked about a cross-party German delegation's visit to Taiwan. Mao Ning stated that there is only one China in the world, and Taiwan is an inseparable part of China's territory. China has consistently and firmly opposed any form of official exchanges between countries that have diplomatic relations with China and Taiwan. The one-China principle is a universally recognized norm of international relations and a general consensus of the international community, as well as the political foundation of China-Germany relations. We urge relevant German personnel to abide by the one-China principle and stop sending wrong signals to the "Taiwan independence" separatist forces. The DPP authorities' attempt to seek independence through foreign intervention is doomed to failure.

On May 25th, the National Cybersecurity Information Center detected that npm, a leading global JavaScript package management platform, was attacked by the "Shai-Hulud" supply chain poisoning attack. Attackers compromised the official npm maintainer's account and rapidly deployed a large number of malicious software packages, involving over 600 malicious versions of more than 300 independent packages, affecting multiple popular open-source projects. When developers install these malicious dependencies, the program automatically executes malicious code on local hosts and CI/CD pipeline environments, stealing sensitive information such as GitHub tokens, npm tokens, cloud service keys, SSH private keys, Kubernetes credentials, and database connection strings. This poisoning attack possesses extremely strong worm-like self-replication and lateral propagation capabilities. Attackers can use the stolen npm publishing permissions to tamper with and republish other packages under the developer's name, causing the supply chain risk to continue to spread and the damage to escalate.

Musk: We plan to open-source the 0.5T model by the end of this year. It should still be very useful.

Money market prices indicate that the market expects a 70% chance of the European Central Bank raising interest rates in June, compared to 80% at the close of trading last Friday.

Money market pricing currently indicates that the European Central Bank's deposit rate is expected to be 2.57% by the end of the year, down from 2.67% at the close of trading last Friday.

Eurozone bond yields generally fell as market optimism grew regarding a Middle East peace deal. The yield on Germany's two-year bond fell 4.1 basis points to 2.599%, while the yield on its ten-year bond fell 4.7 basis points to 2.989%.

The yield on Japan's 40-year government bond fell 7.5 basis points to 4.145%.

Euro Stoxx 50 futures rose 1.01%, and German DAX 30 futures rose 0.95%.

The yield on Japan's 20-year government bonds fell 8 basis points to 3.610%.

On May 25, the Standing Committee of the National People's Congress launched an enforcement inspection of the Hainan Free Trade Port Law. The inspection will focus on eight key areas: the implementation of trade liberalization and facilitation; the implementation of investment liberalization and facilitation; the implementation of fiscal and tax systems; the implementation of ecological and environmental protection systems; the implementation of industrial development and talent support systems; the implementation of comprehensive measures; the formulation of supporting administrative regulations, departmental rules, and Hainan Free Trade Port regulations; other problems existing in the implementation of the law; and opinions and suggestions for promoting the implementation of the law.