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On September 18th, the Beijing Municipal Bureau of Economy and Information Technology and the Beijing Municipal Development and Reform Commission jointly issued the "Action Plan for Accelerating the Development of the Meta-economy in Beijing (2026-2028)." The plan includes the creation of a meta-economy distribution platform. It supports software and information service companies in building world-class meta-economy distribution platforms, enhancing cross-model, cross-modal, and cross-regional platform access capabilities, and providing developers with unified interfaces, model aggregation, meta-economy measurement, and settlement services. The plan also aims to accelerate the cultivation of leading enterprises with significant industry-leading and clustering effects and strong upstream and downstream radiation and driving force. Furthermore, it promotes the inclusion of meta-economy distribution platforms in the new infrastructure layout, forming an efficient service portal for the intelligent economy.On September 18th, the Beijing Municipal Bureau of Economy and Information Technology and the Beijing Municipal Development and Reform Commission jointly issued the "Action Plan for Accelerating the Development of the Meta-economy in Beijing (2026-2028)". The plan supports software and information service companies in collaborating with third-party evaluation agencies to explore the construction of a meta-economy testing platform. This platform will facilitate a sustainable operating model through value-added services such as intelligent model routing and evaluation consulting. The plan also aims to establish objective and impartial performance and quality evaluation standards for meta-economy components, providing a reference for meta-economy pricing and intelligent model routing.On September 18th, the Beijing Municipal Bureau of Economy and Information Technology and the Beijing Municipal Development and Reform Commission jointly issued the "Action Plan for Accelerating the Development of the Word Meta Economy in Beijing (2026-2028)". The plan emphasizes promoting breakthroughs in key core technologies. It calls for accelerating the iteration of basic model technologies to improve the upper limit of model intelligence. It also emphasizes promoting the adaptation and optimization of models and chips, supporting breakthroughs in technologies such as dedicated inference chips, lightweight models, and edge deployment, and building and utilizing intelligent computing resources at a high level to comprehensively improve word meta production capabilities.According to Nikkei: The Bank of Japan may have conducted an interest rate check in the foreign exchange market.On September 18th, Denmark launched the "Green Sands" carbon capture and storage facility in the North Sea, injecting carbon dioxide into seabed reservoirs. As the first large-scale carbon dioxide storage project in the EU, the first phase of "Green Sands" is expected to store 400,000 tons of carbon dioxide annually. INEOS, the leading company in the project, stated on its website that the carbon dioxide will be stored on the seabed below the abandoned Niniwest oil field, approximately 250 kilometers off the west coast of Denmark, at a depth of about 1,800 meters below the seabed. In its first phase of commercial operation, the "Green Sands" project can store up to 400,000 tons of carbon dioxide annually. With increasing demand, the storage capacity is planned to expand to 4 to 8 million tons per year by 2030. It is understood that this carbon dioxide mainly comes from a biomethane plant in Denmark, where it is liquefied and then transported by truck to a dedicated terminal in the port of Esbjerg, from where it is shipped to sea by the EUs first dedicated carbon dioxide transport ship.

EUR/USD approaches 1.00 despite a potential German energy crisis; Jackson Hole forecasts a pullback

Daniel Rogers

Aug 25, 2022 14:59

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The EUR/USD has detected buying activity after trading sideways at 0.9960 throughout the Tokyo session. As the US dollar index (DXY) trades badly at the open, the pair is climbing to reclaim the fabled 1.0000 level. The DXY has fallen to approximately 108.50 after experiencing selling pressure close to 108.50.

 

The contrasting reactions of market players to Federal Reserve (Fed) chair Jerome Powell's remarks on interest rate guidance at the Jackson Hole Economic Symposium have perplexed investors. The DXY is volatile due to two schools of thought regarding the Fed's stance on interest rates following a decline in the private sector.

 

As a result of the Fed's aggressive interest rate rises, PMI numbers have decreased dramatically. As a result, one school of thought contends that the Fed should slow down because a decline in economic activity could hurt the confidence of the private sector. In addition, the second school of thought favors maintaining the existing rate of interest rate hikes, as price stability is the primary objective.

 

On the Eurozone front, the probability of a German energy crisis is rising as the energy-supplying Nord Stream 1 pipeline from the Baltic Sea to Germany undergoes unscheduled maintenance over the last three days of August. During a time when the German energy market is already suffering supply difficulties, new supply constraints may cause energy prices to skyrocket.