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On December 31st, SuperCLUE, a leading benchmark for large-scale model evaluation, released its "December Report on Chinese Multimodal Visual Language Model Evaluation Benchmarks." SenseTimes (00020.HK) Daily New V6.5 model ranked first in China with a total score of 75.35, winning the gold medal and achieving the highest score in the visual reasoning dimension.On December 31st, the National Development and Reform Commission (NDRC) held a press conference. At the conference, Li Chao, Deputy Director of the NDRCs Policy Research Office, stated that building a unified national market is both a tough battle and a protracted undertaking. Currently, there are still some obstacles and bottlenecks in the construction of a unified national market. The NDRC will promote the issuance of a list of items hindering the construction of a unified national market, further regulate the economic promotion behavior of local governments, study and formulate policies and measures to promote the healthy development of investment attraction, and guide local governments to explore new models of high-level investment attraction tailored to their local conditions. At the same time, the NDRC is studying and formulating regulations for the construction of a unified national market to strengthen legal protection and promote the improvement of a fiscal and tax system, statistical accounting system, and performance evaluation mechanism conducive to the unification of the entire market.On December 31st, Li Chao, Deputy Director of the Policy Research Office of the National Development and Reform Commission, stated that my countrys in-depth implementation of the "Artificial Intelligence+" initiative has provided a wide range of application scenarios for AI computing chips, leading to rapid growth in demand and active innovation across various types of computing chips. Currently, domestically produced chips are rapidly adapting to different scenarios with excellent application results. In particular, the development of cluster interconnection technologies such as "supernodes" has provided a good opportunity for domestic computing power to catch up with international leading levels, expanding its development space significantly. In the future, with the continued deepening of collaboration across the upstream and downstream of the industry chain, the level of domestic computing power will continue to improve, providing stronger support for the development of the artificial intelligence industry.On December 31st, the National Development and Reform Commission (NDRC) held a press conference. Li Chao, Deputy Director of the Policy Research Office of the NDRC, stated that the 2026 consumer goods trade-in policy will optimize fund allocation. Based on the existing fund allocation standards, the allocation scale for each region will be rationally determined by comprehensively considering the implementation of previous policies and issues identified in audits. For regions with serious overdue payments, appropriate measures will be taken to increase supervision and penalties; the funds will be implemented in a balanced and orderly manner. At the national level, the work pace will continue to be controlled, with funds allocated quarterly and in batches. At the local level, guidance will be provided to local governments to distribute subsidies in a balanced and orderly manner, ensuring smooth transitions across weeks, months, and quarters.On December 31st, the National Development and Reform Commission (NDRC) held a press conference. At the conference, Li Chao, Deputy Director of the Policy Research Office of the NDRC, stated that the consumer goods trade-in policy involves a wide range of stakeholders, and its implementation has revealed many areas requiring adjustment and improvement. The NDRC will specifically improve the policy implementation mechanism for 2026. This includes severely cracking down on illegal and irregular activities, strictly reviewing funds, strictly managing prices, and strictly enforcing laws and regulations. Special campaigns will be organized to investigate, punish, and expose any cases of fraudulent subsidies, misappropriation of subsidies, or other illegal and irregular activities.

NY Fed official: Digital dollar could speed foreign exchange settlement

Cory Russell

Nov 07, 2022 15:06

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Using a central bank digital dollar to shorten settlement times in foreign currency markets, according to a senior Federal Reserve Bank of New York official, has potential.


The head of the bank's markets division, Michelle Neal, did not indicate that the introduction of a central bank digital currency, or CBDC, was near. But she said that bank research has shown how this particular kind of money may help an important aspect of the financial system.


Neal said in the text of comments prepared for a conference in Singapore that foreign currency spot transactions "are crucial in the context of cross-border payments, and serve as a building block for lengthier, more sophisticated transactions." She said that there is potential for improvement since the settlement of these deals takes roughly two days.


A Fed digital dollar used in wholesale transactions, together with the capability to record transactions, "results in immediate and atomic settlement," the research endeavor claims.


In less than 10 seconds, on average, settlement might happen, according to Neal's study, "indicating that horizontal scalability was viable."


The Federal Reserve has been looking on ways to introduce a totally digital dollar, known as Fedcoin by some. According to Fed officials, elected officials would need to endorse the launch of any such asset.


Some central bankers have questioned the need of a CBDC for the United States.


Before the New York Fed's report on the study project was released, Neal made his remarks.


The first phase of work "revealed promising applications of blockchain technology in modernizing critical payments infrastructure," according to Per von Zelowitz, director of the bank's New York Innovation Center, in that press release. "Our inaugural experiment provides a strategic launch pad for further research and development regarding the future of money and payments from the U.S. perspective," he added.


The research issued a warning that its conclusions "are not meant to achieve any particular policy result" and did not have consequences for the implementation of a completely digital central bank currency.

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