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Real-time News
On August 27th, Bank of Japan Deputy Governor Ryozo Himino stated on Thursday that timely interest rate hikes would help prevent a sharp rise in inflation, thus preventing a forced, sudden rate increase in the future. Speaking to business leaders, Himino said, "If core inflation deviates from and exceeds our 2% target, it will have an adverse impact on the economy. Compared to the past, we should pay more attention to the upside risks to prices." He added, "Every monetary policy meeting should be conducted in depth from these perspectives."On August 27th, the State Administration for Market Regulation announced that Chinas Enterprise Credit Index for July was 158.87, showing a temporary pullback from previous highs, but the resilience of enterprise credit remains evident. The overall credit foundation of enterprises nationwide remains solid. In July, the China Enterprise Credit Index decreased by 2.35 points compared to June, influenced by factors such as the increase in the number of newly added enterprises to the list of enterprises with abnormal operations, resulting in a significant decline in regulatory sub-indicators. Simultaneously, the credit repair process accelerated, with a corresponding increase in the number of enterprises removed from the list of enterprises with abnormal operations, continued improvement in regulatory activity, a decrease in the number of enterprise deregistrations compared to the previous month, and a stronger willingness of business entities to continue operating. The fundamental trend of improving enterprise credit remains unchanged. Industry-specific enterprise credit levels declined compared to the previous month. In July, the top five industries in terms of credit index ranking were finance, electricity, heat, gas and water production and supply, residential services, repair and other services, water conservancy, environment and public facilities management, and manufacturing. Industry credit indices generally stabilized this month. Amidst index fluctuations, the mining industry index rose against the trend, while the credit index rankings for agriculture, forestry, animal husbandry and fishery reached new highs this year.Bank of Japan Deputy Governor Ryozo Himino: The Middle East conflict is unlikely to cause a significant downturn in the Japanese economy.On August 27th, according to the Wall Street Journal, Barret Zoph, co-founder of Thinking Machines Lab, has changed employers again after his abrupt departure earlier this year due to disagreements with CEO Mira Murati to join OpenAI. Google stated that Zoph will join Google as Vice President of Research. Zoph previously served as Chief Technology Officer of Thinking Machines before returning to OpenAI to drive the sale of AI products to enterprises. A Google spokesperson said, "We look forward to Barrets return to Google and bringing his expertise in reinforcement learning and post-training to Gemini." Zoph left Thinking Machines in January of this year, along with co-founder Luke Metz and another employee, Sam Schoenholz.On August 27th, it was reported that as China continues to promote high-level opening-up, the driving force for foreign-invested enterprises development in China is constantly strengthening. Recently, Hitachi Energy (China) Co., Ltd. officially announced a strategic investment of approximately US$300 million in China at the inauguration ceremony of its new digital tap changer production line and the groundbreaking ceremony for its ultra-high voltage bushing project at its Global Transformer Component Operation Center in Hefei. This is reportedly one of the largest investment projects by the foreign company in China in recent years. Currently, foreign investment in China is gradually shifting from "production in China" to "R&D in China and serving the world." "The core reason for the continued increase in foreign investment in the Chinese market is the dual advantages of quantity and quality of the Chinese market, including its massive scale, opportunities for consumption upgrading, and strong opportunities for technological innovation and industrial upgrading," said Deng Daocai, Associate Professor and Director of the Department of Finance at the School of Economics, Anhui University.
