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Real-time News
On May 22, the National Data Development Research Institute, under the National Data Administration, released a report titled "Research on the Development Characteristics and Paths of Commercial Data Service Enterprises." The report points out that while domestic commercial data service enterprises have formed a preliminary industrial ecosystem, they still have shortcomings in areas such as capitalization, global service capabilities, and competitiveness in high-end markets. There is an urgent need to increase capital market support to help the industry achieve high-quality development. To this end, the National Data Development Research Institute proposes three suggestions: First, strengthen government guidance, improve the public data supply guarantee system, refine the revenue distribution mechanism, and stimulate the enthusiasm of all parties in supplying and using data; second, promote the industrys own quality and efficiency improvement, guiding enterprises to abandon low-end homogeneous competition and focus on improving professional capabilities and service quality; third, increase capital market support, improve the valuation and evaluation mechanism for data enterprises, and facilitate financing channels to provide sufficient capital support for high-quality enterprises R&D innovation, scale expansion, and overseas expansion.On May 22, the Ministry of Public Security announced plans to revise the "Rules for Electronic Data Collection in Criminal Cases Handled by Public Security Organs," and has drafted the "Rules for Electronic Data Collection by Public Security Organs (Draft for Public Comment)," soliciting public opinions. The draft clarifies that in electronic data collection, if it is necessary to input the account password of a smart terminal or other device related to the case, the electronic data holder should generally provide the account password first. If the holder does not provide the password, the process should be approved by the head of a public security organ at the county level or above, and appropriate measures can be taken to obtain the account password after clearly informing the electronic data holder or having a witness present.On May 22, the Ministry of Transport held a Party Group meeting. The meeting emphasized the need to stay aligned with the strategic goals of building a science and technology powerhouse and a transportation powerhouse by 2035. It stressed accelerating the construction of an intelligent, integrated, and three-dimensional transportation network; deepening the large-scale innovative application of artificial intelligence; overcoming key core technologies; completing a number of major innovation projects; building a group of strategic scientific and technological forces; and accelerating the integration, safety improvement, digitalization, and green transformation of transportation to provide strong scientific and technological support for improving a modern, comprehensive transportation system.Iranian Foreign Ministry Spokesperson: The crisis currently facing our region and the world stems directly from the United States illegal and capricious withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May 2018.May 22 – As the price shock triggered by the Iran war begins to spread from energy costs to a wider range of sectors, economists have raised their forecasts for U.S. inflation and postponed the timeline for the next Federal Reserve rate cut. They expect the core PCE index to rise higher than previously anticipated, with both inflation indicators remaining above 3% by the end of the year. Economists are evenly divided on whether the Fed will cut rates in December, whereas a previous survey predicted an October cut. Luke Tilly, chief economist at Wilmington Trust Corp., said this feels familiar; the Fed and markets are worried that soaring energy prices will trigger inflation, just as they worried about tariffs triggering inflation last year. Given already weak consumer spending, people are more likely to offset higher gas prices by cutting spending on other items. The survey shows that economists still believe U.S. consumer spending and GDP will grow by about 2% this year, roughly in line with previous forecasts, with the probability of a recession in the next 12 months falling to 25%. In addition, economists have slightly raised their forecasts for job growth in the U.S. this year, but still expect the unemployment rate to peak at 4.5% in the third quarter.
