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On September 3rd, the Shanghai Municipal Commission of Housing and Urban-Rural Development issued a notice regarding the "15th Five-Year Plan for Housing and Urban-Rural Development Management in Shanghai." The plan outlines several key initiatives: steadily and orderly advancing the construction of fundamental systems related to real estate development, financing, and sales; standardizing market order and enhancing the level of the real estate service industry; increasing efforts to cultivate professional and large-scale housing rental enterprises and improving the classified supervision system for housing rentals; accelerating the improvement of the housing supply system, scientifically and rationally determining the scale, spatial layout, and product structure of housing supply in each district, and adding 25-28 million square meters of commercial housing; and by 2030, adding 250,000-270,000 units (rooms) of affordable rental housing and raising over 120,000 beds for the "New Era Urban Builders and Managers Homes." The plan also focuses on various housing consumption scenarios and expands the scope of support for housing rental services.On September 3rd, the Shanghai Municipal Commission of Housing and Urban-Rural Development issued a notice regarding the "15th Five-Year Plan for Housing and Urban-Rural Development Management in Shanghai." The plan aims to accelerate the renovation of urban villages, with the overall renovation projects fully launched and completed by the end of 2026; and the preliminary renovations for these projects to be completed by the end of 2027; the plan also includes the simultaneous implementation of planned improvement projects. Furthermore, it aims to accelerate the renovation of old housing units, striving to complete the renovation of the remaining approximately 20,000 square meters of low-beam, thin-slab housing by the end of 2026; and to basically complete the renovation of non-standard employee housing by the end of 2030. The plan also aims to achieve positive results in the renewal of non-standard lane houses, apartments, and garden residences.On September 3, Jiang Lue, spokesperson for the China Coast Guard, stated that the China Coast Guards Putuoshan naval formation conducted routine law enforcement patrols in the waters east of Taiwan on September 3. Since August, the Putuoshan naval formation has continuously strengthened control over the relevant waters, effectively ensuring normal navigation and operational order, and earnestly safeguarding the legitimate rights and interests, as well as the lives and property of Chinese citizens, including compatriots in Taiwan. The China Coast Guard will continue to strengthen law enforcement patrols in waters under Chinese jurisdiction and resolutely safeguard national territorial sovereignty and maritime rights.September 3 - According to Iranian sources on the 3rd, Iran used missiles and drones to strike a US military base in Kuwait. Sources said thick smoke billowed from the site. Earlier, the Kuwaiti military stated that air defenses were responding to the missile and drone attacks.Xi Jinping returned to Beijing after concluding his attendance at the 2026 Shanghai Cooperation Organisation Summit and state visits to Kyrgyzstan and Egypt.

Crypto Market Daily Highlights: Fed Fear and Regulatory Jitters Weigh

Cory Russell

Feb 28, 2023 15:13

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On Monday, the top ten cryptocurrency index had a split session. While XRP defied the negative pattern, MATIC topped the top ten in losses. For the third session in a row, Bitcoin fell shy of $24,000 due to the negative session.


Short-term early afternoon support came from US economic data and the NASDAQ Composite Index. US orders for core durable products rose by 0.7% in January, correcting a 0.4% drop in December. A 0.1% increase is predicted by economists. The favored Goods Purchases Non-Defense Ex Aviation index of the Federal Reserve rose by 0.8%, correcting a 0.3% decline from December.


The most recent figures from the US, however, are yet more encouraging economic signs, backing a more active interest rate track from the Fed to bring inflation back to goal.


The introduction of a worldwide crypto regulatory structure has added regulatory ambiguity, which has continued to dampen investor interest. Investors were given a preview of what to anticipate by G20 news and G20 post-meeting remarks.


A Forbes story on Binance moving $1.8 billion in user assets to hedge funds on Monday put the market's perception to the test amid intensified regulatory and parliamentary examination. As of the time of writing, CZ, the Leader of Binance, had not commented on the story.


The Day Ahead Buyers should keep an eye on the crypto news channels for any regulation developments and any congressional chitchat. Along with news from the current SEC v. Ripple lawsuit, developments on Binance and FTX are important to take into account.


The midday session will be influenced by US economic data and the NASDAQ Composite Index. There will be a lot of curiosity in the February US consumer sentiment numbers. The Fed would feel more confident making more bold steps to fight inflation if consumer confidence rose.


As a result of decline purchasers providing much-needed assistance, the NASDAQ Composite Index increased by 0.63% on Monday. Today's morning saw a 9-point gain for the NASDAQ mini.

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