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Real-time News
On January 28th, Westpac joined other major banks in predicting a 25 basis point rate hike by the Reserve Bank of Australia (RBA) at its February meeting. Westpac believes that persistently high inflation has cast a "decisive vote" for policy tightening, while maintaining its basic assessment that this rate hike will be a one-off move, not the start of a long-term rate hike cycle. Westpac argues that accurately identifying spare capacity in an economy nearing full employment and full capacity utilization is difficult. In this environment, inflation outcomes become the most reliable policy guide. The bank points out that underlying inflationary momentum is currently higher than the level needed for a smooth return to the RBAs 2-3% target range, leaving the RBA with little room to delay action. Nevertheless, Westpac does not expect automatic and continuous rate hikes. Current policy is considered to be at a restrictive level, and the remaining task of cooling inflation is relatively modest. The most likely outcome is a wait-and-see approach after February, while clearly conveying that the RBA is prepared to act again if inflation fails to slow as expected.On January 28th, Pang Xiaogang, Vice Chairman of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), stated at a press conference held by the State Council Information Office that state-owned enterprises (SOEs) will further promote the "AI+" special action in the next step. First, they will strengthen investment-driven development. This includes planning the "15th Five-Year Plan" strategic plan for artificial intelligence for central SOEs, accelerating the construction and efficient utilization of information and communication networks, the national integrated computing power network, and domestic intelligent computing clusters, and promoting high-quality industrial development through effective investment. Second, they will deepen scenario cultivation. Focusing on key areas such as embodied intelligence and energy and power, they will explore the establishment of "AI+" industrial communities, increase the openness of scenarios, and create more comprehensive major scenarios, industry-integrated scenarios, and high-value niche scenarios. Third, they will optimize data supply. Under the premise of security and compliance, they will accelerate the open development of data resources in key areas such as transportation and logistics, smart energy, green and low-carbon development, and financial services, providing strong support for model optimization and iteration, intelligent computing facility construction and use, and large-scale application in industry scenarios.On January 28, Zhang Jianlong, Director of the Science and Technology Innovation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), stated at a press conference held by the State Council Information Office that SASAC is currently drafting a working document on promoting the cultivation of emerging pillar industries by central enterprises, guiding them to achieve leapfrog development from major project investment, cultivation of leading enterprises, and breakthroughs in key areas to the overall optimization of the layout of the state-owned economy.On January 28th, Zhang Jianlong, Director of the Science and Technology Innovation Bureau of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), stated at a press conference held by the State Council Information Office that this year, state-owned enterprises (SOEs) will vigorously strengthen independent innovation and original innovation to provide strong support for achieving high-level scientific and technological self-reliance and building a strong science and technology nation. The focus will be on three key areas: First, increasing the supply of high-quality science and technology. This includes strengthening research on key core technologies, increasing the proportion of investment in basic research, deepening the construction of original technology sources, concentrating efforts to overcome a number of radiating, global, and strategic technologies, and producing more original and leading major scientific and technological achievements. Second, promoting efficient technology transfer. This involves leveraging the dual driving role of central SOEs in the innovation chain and application scenarios, accelerating the construction of a number of pilot-scale verification platforms, increasing the procurement of first-of-its-kind, first-batch, and first-version equipment, and promoting the transformation of more innovative achievements into real productivity. Third, building a high-level innovation ecosystem. This involves fully leveraging the integrating role of central SOEs in the innovation chain, industrial chain, and capital chain, strengthening industry-university-research collaboration, creating a joint innovation system with shared investment, shared benefits, and shared risks, and helping to enhance the advantages of the national innovation system.On January 28th, the Taiwan Affairs Office of the State Council held a regular press conference. According to Taiwanese media reports, in order to "prevent children from accessing inappropriate content and potential cybersecurity risks," Taiwans "Data Development Department" has for the first time proposed a "List of High-Risk Cybersecurity Apps," including Douyin, Weibo, WeChat, Xiaohongshu, and Baidu Cloud, for the education departments reference. What is your comment on this? Spokesperson Zhang Han stated that the DPP authorities hype about so-called "cybersecurity risks" regarding mainland applications is malicious. Their actions—depriving Taiwanese people, especially young people, of their right to know and freedom to use social media platforms, blocking cross-strait exchange channels, and deliberately inciting so-called "resistance against China and protection of Taiwan"—expose their inner fear and anxiety. The DPP authorities willful actions will inevitably backfire. Their perverse actions cannot stop the public opinion of Taiwanese people, especially young people, to understand the mainland and to get to know and be close to their mainland compatriots.
