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Real-time News
On August 28th, it was announced that the "Twelve Measures for Financial Empowerment of the High-Quality Development of the Low-Altitude Economy Industry in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone" will officially take effect on September 1st this year and will be valid until December 31st, 2028. The Measures propose leveraging the capital market service functions of the "Specialized, Refined, and Innovative" board of the Shenzhen Qianhai Equity Exchange Center, establishing a "Qianhai Low-Altitude Economy Zone," and innovatively launching a "Loan Upon Listing" special financing service. It encourages providing listing cultivation, compliance guidance, and cross-border capital services to low-altitude economy enterprises, connecting them tiered to the Shanghai and Shenzhen main boards, the ChiNext board, the STAR Market, and the Beijing Stock Exchange, among other multi-tiered capital markets. It supports more low-altitude economy enterprises to list on the National Equities Exchange and Quotations (NEEQ) through a "green channel" review process. Addressing the difficulties and high costs of financing in key links of the low-altitude industry chain, the Measures innovatively introduce a credit risk-sharing mechanism and encourage banking institutions to develop products such as "Talent Loans," "R&D Loans," and "Low-Altitude Industry Cluster Loans" for the Qianhai low-altitude economy.August 28th - According to the Financial Times, UK Chancellor of the Exchequer John Healy will temporarily shelve the target of increasing defense spending to 3% of GDP by 2030 when he presents his first budget in October, and difficult decisions on how to fund the armed forces will also be postponed. Healy had previously insisted that the UK should increase defense spending to 3% of GDP by 2030 as a milestone to achieve NATOs 3.5% target by 2035, but this position is now fraught with uncertainty. Government insiders say Healys budget will focus on filling the nearly £5 billion funding gap for defense equipment left by former Prime Minister Starmer. Bee Boileau, a researcher at the Institute for Fiscal Studies, said that if the government increases defense spending to 3% of GDP by 2030, it will require an additional £10 billion annually at current prices. A further increase to 3.5% would require an additional £25 billion. Under current plans, UK defense spending will reach 2.7% of GDP by 2030.According to the Financial Times, UK Chancellor of the Exchequer Healy will postpone his target of spending 3% of GDP on defense by 2030.August 28th - Tencent Hunyuan announced the release of Hy4 preview today. With a total parameter count of 770B, an activation parameter count of 49B, and a context length of 1M, it demonstrates outstanding capabilities in real-world productivity tasks such as coding, office work, and scientific research.August 28th - Underlying inflation in the Tokyo metropolitan area may be significantly higher than official government figures. JPMorgan economist Takuho Morimoto stated that after excluding policy incentives such as subsidies for water and electricity bills and childcare fees, consumer prices excluding fresh food and energy could rise to 2.5%, significantly higher than the 2% reported on Friday and also above the Bank of Japans 2% inflation target. "We expect inflation to accelerate further before the end of the year, which will increase the pressure on the Bank of Japan and raise the risk that a delayed policy response could be costly."
