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Wesfarmers Australia: Founders an artificial intelligence partnership with Microsoft (MSFT.O).On July 20th, Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology (MIIT), stated that since the beginning of this year, the MIIT has focused on facilitating the industrialization of research results and the incubation chain for technology-based enterprises, taking the cultivation and expansion of the science and technology service industry as a key focus, and has carried out work in three key areas. First, strengthening the incubation rate, establishing a full-chain service capability from R&D to pilot testing and then to incubation; second, building a sound trading market, as many high-quality research results, despite their strong technical foundation, are limited by regional and channel constraints, making it difficult to connect with the national market—even the best products need marketing. Currently, we are accelerating the formulation of policy documents to cultivate a nationally integrated technology market, striving to break down regional barriers and institutional obstacles in the technology transaction process, building a unified national technology transaction service platform, and promoting the free flow of technological elements nationwide; third, facilitating the transformation of supply and demand for research results. "We cannot look for nails with a hammer," we must adhere to the principle of industry posing the questions and science and technology providing the answers, giving full play to the role of technology managers, and facilitating the smooth flow of research output, intermediary matchmaking, and application implementation. Currently, the MIIT is accelerating the formulation of reform measures to strengthen the construction of the technology manager team, and relevant policies and standards will be released soon.On July 20th, the State Council Information Office held a press conference to introduce the development of industry and information technology in the first half of 2026. Tao Qing, spokesperson for the Ministry of Industry and Information Technology and Director of the Bureau of Operation Monitoring and Coordination, stated that software is the soul of the new generation of information technology, an important foundation for the development of the digital economy, and a key support for building a manufacturing powerhouse, a cyber powerhouse, and a digital China. Going forward, in accordance with the national software development strategy, we will continue to enhance the supply capacity of key software products and services, accelerate the introduction of the "Artificial Intelligence + Software" action plan, promote the intelligent transformation of software development, the intelligent upgrading of software products and services, and the cultivation of new intelligent agent software business models. We will also continuously improve the capabilities of open-source infrastructure in project incubation, supply chain security governance, exploration of emerging scenarios, and overseas market implementation, and accelerate the growth of the national-level artificial intelligence open-source community into an innovation source for emerging technologies and an important scenario for the implementation of software and hardware products.On July 20, the State Council Information Office held a press conference to introduce the development of industry and information technology in the first half of 2026. Xie Cun, spokesperson of the Ministry of Industry and Information Technology (MIIT) and Director of the Information and Communications Development Department, stated that the MIIT will strengthen the regulation and governance of the basic telecommunications market, enhance tariff management and marketing channel control, effectively curb irrational competition in the basic telecommunications market, and safeguard the legitimate rights and interests of users. "If you find that a telecommunications company has problems with irregular operations or inadequate service, you can first file a complaint with the company. If you are not satisfied with the handling of your complaint, you can also appeal to the MIIT," Xie Cun said. The MIIT will guide and urge companies to handle these issues properly. At the same time, it will further strengthen service tracking and monitoring, and if violations are found, it will take measures such as interviews, public notices, and orders for rectification, and impose administrative penalties to deal with them according to law.On July 20th, the State Council Information Office held a press conference to introduce the development of industry and information technology in the first half of 2026. Xie Cun, spokesperson of the Ministry of Industry and Information Technology and Director of the Information and Communication Development Department, stated that in the past two years, over 70 large-scale computing power channels have been built around national computing power hub nodes, improving network performance between related computing power hub nodes by 10%. The explosive growth of large-scale artificial intelligence models and intelligent agent applications has led to a continuous increase in demand for intelligent computing power. Going forward, the Ministry of Industry and Information Technology will continue to optimize the deployment of computing power infrastructure resources, build interconnected computing power nodes, and improve the efficiency of computing power resource utilization, following a point-to-point, chain-to-network, surface-to-area, and systematic approach. In terms of key areas, the Ministry will optimize the supply deployment of computing power resources, coordinate industrial development and energy supply factors, promote the construction of intelligent computing clusters and the coordinated development of computing and power, create a tiered computing power layout, and strengthen the overall monitoring of computing power. Furthermore, a guideline for the construction of a computing power standards system will be issued to promote the establishment of standards for computing power service capability assessment and market-based pricing of computing power.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

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In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.