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Real-time News
February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to the bottom line and actively and steadily resolve risks in key areas. Strengthen the coordination between risk prevention and development promotion policies to further enhance development resilience. Focus on stabilizing the real estate market, implementing city-specific policies to control new supply, reduce inventory, and optimize supply, encouraging the acquisition of existing commercial housing for the purpose of affordable housing, etc. Deepen the reform of the housing provident fund system, orderly promote the construction of "good houses," and accelerate the construction of a new model for real estate development. Actively and orderly resolve local government debt risks, urging local governments to proactively resolve their debts. Optimize debt restructuring and replacement methods, and take multiple measures to resolve the operational debt risks of local government financing platforms.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to persist in reform and strengthen the driving force and vitality of high-quality development. This includes formulating regulations for the construction of a unified national market, thoroughly addressing "involutionary" competition, and creating a sound market ecosystem. It also includes formulating and implementing a plan to further deepen the reform of state-owned assets and enterprises, and improving supporting regulations and policies for the Law on Promoting the Private Economy. Furthermore, it calls for accelerating the clearing of overdue payments to enterprises, promoting win-win development for platform enterprises and their operators and workers, expanding pilot projects for market-oriented reforms of factors of production, optimizing the structure of fiscal transfer payments, and improving the local tax system. Finally, it emphasizes further promoting the reduction and improvement of small and medium-sized financial institutions and continuously deepening the comprehensive reform of investment and financing in the capital market.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article points out that it is necessary to adhere to innovation-driven development and accelerate the cultivation and expansion of new growth drivers. It emphasizes adhering to the principle of using scientific and technological innovation to lead industrial upgrading and continuously generate new quality productivity. It calls for formulating an integrated plan to promote the development of education, science and technology talent. It also emphasizes building international science and technology innovation centers in Beijing (Beijing-Tianjin-Hebei region), Shanghai (Yangtze River Delta region), and the Guangdong-Hong Kong-Macao Greater Bay Area, creating world-class sources of scientific and technological innovation. Furthermore, it stresses strengthening the leading role of enterprises in innovation, supporting the expansion of application demonstrations of new technologies, new products, and new scenarios, improving the intellectual property protection system in emerging fields, and accelerating the transformation of scientific and technological achievements. The article also calls for formulating an action plan to expand and improve the service industry, implementing a new round of high-quality development action for key industrial chains, deepening and expanding "artificial intelligence +", improving artificial intelligence governance, and innovating science and technology financial services.February 15th news: The fourth issue of Qiushi magazine, to be published on February 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Key Tasks of Current Economic Work." The article emphasizes that there are many tasks to be done in the economic work of 2026, and it is crucial to grasp the key points and focus on the essentials. It stresses adhering to domestic demand as the main driver and building a strong domestic market. It calls for coordinating efforts to promote consumption and expand investment, making good use of my countrys super-large market advantage. It emphasizes the need to further implement special actions to boost consumption, formulate and implement plans to increase the income of urban and rural residents, expand the supply of high-quality goods and services, optimize the implementation of policies related to new infrastructure and new urbanization, eliminate unreasonable restrictions on consumption, and unleash the potential of service consumption such as culture and tourism. Focusing on improving peoples livelihoods and enhancing future growth potential, it calls for stabilizing investment, appropriately increasing the scale of central government budgetary investment, optimizing the implementation of key projects, optimizing the management of local government special bonds, continuing to leverage new policy-based financial instruments, promoting high-quality urban renewal, and effectively stimulating private investment.On February 15th, the Equipment Industry Department of the Ministry of Industry and Information Technology organized the National Automotive Standardization Technical Committee to revise the mandatory national standard "Marking of Automotive Control Components, Indicators and Signaling Devices." A draft for public comment has been completed and will be released soon. The document explicitly requires that turn signal lights, window operation, and activation of combined driver assistance systems should be equipped with physical control components. This document replaces GB 4094—2016 "Marking of Automotive Control Components, Indicators and Signaling Devices." This revision adds new types and technical requirements for physical control components, aiming to improve driving safety, ensure that key control components are accessible, usable, and largely blind-operable during driving, allowing drivers to perceive the triggering results of control components without overly relying on visual cues, reducing distractions caused by display screens, and further ensuring the reliability and effectiveness of control components. Other modifications and additions include: changing the scope of application of the standard, deleting descriptions inapplicable to electric vehicles, adding requirements for the display level and visibility of signs, and adding a power battery fault signal device sign, etc.

El Salvador Buys The Dip With 80 More BTC

Jimmy Khan

Jul 01, 2022 14:15

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El Salvador's mysterious president Nayib Bukele tweeted on July 1 that his nation has purchased a further 80 BTC for almost $19,000 apiece before concluding, "Bitcoin is the future." The transaction would have cost around $1.52 million in total.


The Central American nation now has a total of 2,381 bitcoins, which lowers the dollar cost average price.


Early in May, Nayib made the prior acquisition of 500 BTC for $15 million. But back then, the asset was valued at around $32,000.


Beginning in September 2021, when it acquired 200 BTC, Holdings in The Red El Salvador started contributing Bitcoin to its treasury. However, the item was suddenly trading for more over $50,000. The next seven transactions that year, along with one in January, totaled an additional 410 BTC for an average cost of around $36,500.


The entire amount of El Salvador's Bitcoin holdings is presently $46.7 million, but the Nayib tracker (which hasn't yet included this most recent purchase) shows that the nation has lost around 55% of its investment capital. If sold, it would suffer a loss of around $58 million. Given that he just strengthened his stance on the asset, it is obvious that Nayib Bukele has no intention of selling.


Alejandro Zelaya, El Salvador's minister of finance, said in May that the amount of BTC the nation had at the time was less than 0.5 percent of its yearly budget. It created a "very minor" danger to the nation's financial situation, he said.


Economic growth in El Salvador has decreased, according to a CNBC piece published last week. The nation's debt-to-GDP ratio, which measures how much a country owes compared to how much it produces, will reach 87 percent this year, and its deficit continues to be large.


The boost in tourism, which has increased by 30% since Bitcoin was approved in September, is one benefit of Bukele's Bitcoin experiment. Additionally, Bukele's popularity ratings have increased to just around 85%. He is up for reelection in 2024, and if Bitcoin markets are still bullish by then, his position is all but secured.


El Salvador has followed software company MicroStrategy, which this week also added 480 BTC to its stockpile by purchasing additional Bitcoin.

BTC Falls under $19K

During the Friday morning Asian trading session, bitcoin prices fell to an intraday low of $18,782. But it rapidly bounced back, reaching $20,280 at the time of writing.


Although the asset has been range-bound for the previous two weeks, it has lost more than 36% of its value in that time. Since reaching an all-time high of $69,000 in November 2021, the price of bitcoin has decreased by 70%.


As the bears continue to control the markets, the fear and greed index is buried in the "severe fear" zone.