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Hong Kong-listed Yaojie Ankang-B (02617.HK) continued to rise, surging 117% in late trading and now trading at HK$420 per share.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention accelerating the expansion of low-altitude equipment manufacturing. They promote the implementation of complete aircraft R&D, manufacturing, and operation projects, and vigorously cultivate and introduce companies that develop low-altitude core components and key equipment. The city will focus on key areas such as fixed-wing aircraft, helicopters, new energy drones, flying cars, and eVTOL complete aircraft, as well as key equipment, core components, material development, energy and power systems, flight control systems, heavy-duty payloads, and drone countermeasures. Support will be provided for the development of R&D, manufacturing, and operation projects in the city. For complete aircraft projects and component projects with construction investments (excluding land prices) exceeding 100 million yuan and 50 million yuan, respectively, a one-time subsidy of 10% of the actual project investment will be provided, with a maximum cumulative subsidy of 10 million yuan per enterprise.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention the creation of low-altitude demonstration transportation routes and support for the expansion of drone logistics applications. A one-time subsidy of 150,000 yuan, 300,000 yuan, and 500,000 yuan will be provided for each intra-city route, inter-city route, and Dongguan-Hong Kong cross-border route (with at least one starting or ending point in Dongguan, a distance of at least 10 kilometers, and at least 100 flights per year), respectively.On September 15th, the Dongguan Municipal Development and Reform Bureau and other departments jointly issued the "Several Measures to Support the High-Quality Development of the Low-Altitude Economy in Dongguan." The measures mention support for the construction of low-altitude takeoff and landing infrastructure. They support private investment in new general airports, providing subsidies of 10% of the actual construction investment after completion, with a maximum subsidy of 5 million yuan per project. They also accelerate the construction of supporting ground facilities for helicopters, eVTOLs, and unmanned aerial vehicles. Subsidies of 10% of the actual construction investment after completion will be provided for new or expanded low-altitude takeoff and landing infrastructure with private investment. For small takeoff and landing sites and intelligent takeoff and landing kiosks, subsidies will be provided up to 100,000 yuan per project, with an annual maximum of 3 million yuan per enterprise. For medium- and large-scale takeoff and landing sites, eVTOL landing sites, helicopter landing platforms, and test sites (which must have been in operation for at least one year), subsidies will be provided up to 2 million yuan per project, with an annual maximum of 5 million yuan per enterprise.Hesai (HSAI.O) U.S. stock price rose more than 6% in the night trading. The company signed a lidar order worth more than US$40 million with a Robotaxi company.

Forecasts for the price of gold: XAU/USD remains below $1,800 despite worries about the economy and optimism in China

Alina Haynes

Dec 07, 2022 14:52

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The current difficulty of the yellow metal to find direction increased as China's trade surplus decreased in November as both imports and exports fell during the aforementioned month. The gradual increase in US Treasury yields amid worries of a global economic downturn is on the same track.

 

It's important to note that numerous eminent business leaders and bank executives have recently expressed concern about a possible worldwide recession. Bloomberg Economics made comments along the same lines.

 

However, the gold price appears to be supported by China's willingness to announce responsible fiscal and monetary measures as well as indications that the three-year-old Zero-Covid policy may be progressively abandoned.

 

US stock futures post modest gains amid these plays, but stocks in the Asia-Pacific region trade in a mixed bag. However, during the pre-FOMC blackout, hawkish bets on the Fed's upcoming action were not supported by US inflation predictions.

 

Ahead of Thursday's China inflation data and Friday's preliminary US Michigan Consumer Sentiment Index readings, gold traders may find some amusement in China's probable risk-positive statements and secondary data.