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Real-time News
On August 6th, the "15th Five-Year Plan for the Development of the China (Guangdong) Pilot Free Trade Zone (Draft for Public Comment)" was released for public comment. The draft proposes to expand financial opening-up in an orderly manner. It encourages international financial institutions to establish headquarters within the zone, promoting the development of cross-border finance, innovative finance, venture capital, wealth management, futures trading, asset management, specialized finance, and offshore services. It also aims to accelerate the implementation of projects such as the Greater Bay Area International Commercial Bank and the Guangdong-Hong Kong-Macao Greater Bay Area Insurance Service Center. Support will be given to expanding the scale of commodity trading, promoting the linkage between futures and spot markets for key commodities such as iron ore, crude oil, and rubber, and enhancing the pricing power of commodities. The plan also promotes the upgrading of financial technology regulatory pilot programs and expands the application scenarios of the digital RMB. Support will be given to developing cross-border financial innovation businesses such as offshore finance and green finance, and the expansion of pilot programs such as cross-border wealth management and digital RMB cross-border payments will be promoted. Support will be given to financial institutions within the zone to develop specialized products such as cross-border supply chain finance and intellectual property pledge financing, guiding market entities to develop composite financial products. The plan also aims to deepen pilot programs for cross-border credit asset transfer and multi-currency unified accounts, promoting wider mutual recognition and interoperability of cross-border financial products.Court documents show that OpenAI has applied to a U.S. judge to dismiss Apples lawsuit alleging that it violated trade secrets.Germanys manufacturing orders, adjusted for working days, rose 6.5% year-on-year in June, compared with 6.20% in the previous month.Germanys seasonally adjusted manufacturing orders rose 3.1% month-on-month in June, below the expected 0.3% and the previous reading of 1.90%.JPMorgan Chase raised its price target for eBay (EBAY.O) from $100 to $107.
