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September 18th - Data from multiple travel platforms shows that the inbound tourism market continued its growth trend during this years Mid-Autumn Festival and National Day holidays, exhibiting new characteristics of diversified tourist source structure and deeper destination penetration. Ctrip data shows that inbound tourist arrivals will maintain double-digit growth during the combined Mid-Autumn Festival and National Day holiday. The expansion of the tourist source map is a prominent feature of this years inbound tourism during the holidays. Russia jumped to become the number one source country with a growth rate of 173%, followed by markets such as the UK, Malaysia, and Canada with growth rates exceeding 50%. The source structure of inbound tourism is rapidly expanding from traditional East Asian neighbors to Europe and Oceania. The continued buzz surrounding "ChinaTravel" on global social media has provided a foundation for this change. Industry analysts believe that the growth momentum of the inbound tourism market is shifting from policy dividends to a dual-engine approach of "policy + content." For local areas, the ability to transform local cultural resources into experiential and shareable cultural tourism products will affect their competitiveness in the inbound tourism market.Engineers India: is in talks with Saudi Arabia and the UAE regarding the construction of oil facilities.On September 18, Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to comprehensively strengthen the protection and management of traditional Chinese medicine (TCM) knowledge to safeguard the foundation for its survival and development. It stressed the importance of coordinating the protection and utilization of TCM resources, continuously deepening research and interpretation of TCMs basic theories, diagnostic and treatment principles, and mechanisms of action, increasing the promotion and application of traditional TCM knowledge, and strengthening international exchange and cooperation to enhance my countrys international influence in traditional medicine through mutual learning. The meeting discussed and approved in principle the draft amendments to 15 laws, including the "Emergency Response Law of the Peoples Republic of China," and decided to submit the drafts to the Standing Committee of the National Peoples Congress for deliberation.On September 18, Premier Li Qiang chaired an executive meeting of the State Council. The meeting emphasized the need to strengthen the medical rehabilitation and nursing service system, focusing on grassroots levels, and to extend rehabilitation and nursing resources to communities and families to enhance the accessibility of rehabilitation and nursing services for urban and rural residents. The meeting stressed the importance of relying on technological innovation to improve the level of medical rehabilitation and nursing, developing more intelligent rehabilitation technologies and equipment, and enriching service scenarios. It also emphasized strengthening support and guarantees for medical rehabilitation and nursing, dynamically adjusting the catalog of rehabilitation medical and long-term care services, deepening price reforms for medical rehabilitation and nursing services, improving talent training policies, and continuously enhancing the attractiveness of the profession.The Russian Ministry of Agriculture stated that the supply of fuel and lubricants to agricultural producers has not been interrupted, and the situation is being continuously monitored.

Australia to reform mobile wallet, cross-border payments

Skylar Shaw

Dec 14, 2022 14:05


Reserve Bank of Australia (RBA) Governor Philip Lowe said in a lecture on the payments system that retailers should not be forced to use a single system, as is currently the case, and should instead have a choice of mobile wallet services.


According to Lowe, in order to begin the necessary investments throughout the payments ecosystem, wallet providers must complete their plans and share them with the industry.


Overall, we're hopeful that least-cost routing will help balance the factors raising merchants' payment costs, especially for small enterprises, said Lowe.


The remarks were made as the government unveiled plans to upgrade payment systems, regulate the Buy Now Pay Later industry, and create a framework for regulating cryptocurrency service providers as part of a regulatory overhaul of Australia's financial system.


As part of this, the RBA will receive new authority to oversee cutting-edge payment systems including those that offer digital wallets.


Cross-border transactions, which are costly and generally delayed in Australia, are another area that needs reform, according to Lowe.


In order to do this, the RBA put pressure on banks to permit the national real-time payments system to handle the final Australian dollar leg of incoming crossbred transfers.


By Dec. 1, 2023, the industry had agreed to launch this new service, and Lowe predicted that the banks would meet this commitment.