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On September 4th, the launching ceremony of the 2026 Zhejiang Province "Quality Month" activities and the 9th Yangtze River Delta G60 Science and Technology Innovation Corridor Quality Standards Conference were held in Hangzhou, Zhejiang. To build consensus across the upstream and downstream of the industrial chain, construct a collaborative governance framework for quality standards involving industry, academia, research, and application, and promote the high-quality development of the embodied intelligent industry, the conference released the "Initiative for Collaborative Construction of Quality Standards for the Embodied Intelligent Industry in the Yangtze River Delta G60 Cities" and the "Research Report on the Evaluation Index System of Quality Standards for the Yangtze River Delta G60 Science and Technology Innovation Corridor in 2025," among other achievements. The "Initiative for Collaborative Construction of Quality Standards for the Embodied Intelligent Industry in the Yangtze River Delta G60 Cities" proposes: prioritizing quality to solidify the foundation for industrial development; jointly building a standards system to connect industrial collaboration interfaces; and collaborative data governance to strengthen the foundation for intelligent training. Specifically, regarding prioritizing quality, the initiative focuses on the joint construction of a standards system, encouraging enterprises to actively participate in the formulation of national and industry standards, and further promoting the collaborative implementation of standards in areas such as basic general applications, core technologies, components, complete systems, and industry applications.On September 4th, according to the official WeChat account of "Beijing Shunyi," the "Development and Construction Plan for the Capital Airport Economic Zone during the 15th Five-Year Plan Period" has been officially issued. According to the plan, the Capital Airport Economic Zone will promote the high-quality development of a "1+4" industrial system over the next five years, with aviation services as the core and supported by pharmaceuticals and healthcare, intelligent manufacturing, logistics and trade, and business consumption. It aims to become a pioneering zone for the airport economy and build a first-class international airport city port. The plan sets 21 core indicators across five dimensions: hub, scale, industry, innovation, and quality. It specifies that by 2030, the parks revenue will reach 620 billion yuan, the district-level general public budget revenue will reach 4 billion yuan, and the annual import and export volume of the Tianzhu Comprehensive Bonded Zone will reach 200 billion yuan. The "1+4" industrial system will achieve an average annual growth rate of around 10%, the Tianzhu Comprehensive Bonded Zone will maintain a top-tier (A-level) performance evaluation, and the high-tech industrys revenue will grow at an average annual rate exceeding 10%, further highlighting its leading and driving role in the high-quality development of Shunyi Plain New City.September 4th - According to real-time data from Lighthouse Pro, as of 12:50 PM on September 4th, the film "Welcome to Dragon Restaurant" has surpassed 2 billion yuan in box office revenue.Documents show that Iraqs State Oil Marketing Organization (SOMO) is seeking diesel deliveries between September and December, marking its second such procurement tender this year.The Society of Motor Manufacturers and Traders (SMMT) reported that new car registrations in the UK rose by about 13% year-on-year in August, reaching over 90,000 vehicles.

AUD/JPY Establishes over 90.00 as RBA Favors Gradual Balance Sheet Easing Program

Alina Haynes

May 23, 2022 10:06

The AUD/JPY pair has showed a sharper upward move after being underwhelming in the early Tokyo session. The risk barometer stayed in a modest range of 90.18-90.44 and now has surged significantly to around 90.60 after Reserve Bank of Australia (RBA)’s Christopher Kent said that the central bank is in no haste to kick-start its balance sheet reduction operation.

 

The current spike in the price pressure caused the RBA to boost its interest rate by 25 basis points (bps) for the very first time since the Covid-19 epidemic in May’s monetary policy statement. The action was absolutely unexpected since the RBA did emphasize in its comments that the central bank is not seeing rate rises sooner.

 

As RBA has pushed up its rate cycle, the market investors started expecting that the RBA will also commence its balance sheet reduction program to speed up the inflation-controlling procedure. Now, the RBA has indicated that the central bank is in no mood to bank upon quantitatively easing forcefully.

 

RBA Christopher Kent ordered that the Bank would continue to be able to maintain effective control over the cash rate as it withdraws monetary policy stimulus in the term ahead,' as per Reuters.

 

Meanwhile, higher-than-anticipated inflation data in Tokyo are expected to limit the sheer quantity of stimulus packages supplied by the Bank of Japan (BOJ) to accelerate the growth rate. Annual Japan’s National Consumer Price Index (CPI) number at 2.5 percent , much higher than the expectations of 1.5 percent and the earlier print of 1.2. 

AUD/JPY

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