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On Tuesday, January 13, the Hang Seng Index closed up 239.99 points, or 0.9%, at 26,848.47; the Hang Seng Tech Index closed up 6.59 points, or 0.11%, at 5,869.79; the H-share Index closed up 65.33 points, or 0.71%, at 9,285.41; and the Red Chip Index closed up 32.21 points, or 0.78%, at 4,146.17.On January 13th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for Promoting High-Quality Development of Industrial Internet Platforms (2026-2028)," which mentions promoting the construction of an industrial data labeling system centered on business scenarios, developing governance tools such as intelligent labeling, data cleaning, and quality assessment, and improving data governance levels. It encourages platform enterprises to collaborate with industrial enterprises to build specialized datasets for typical industrial scenarios, and encourages qualified enterprises to develop cross-industry and cross-scenario general datasets. It supports platform enterprises in exploring new models and new business forms such as data brokerage and data hosting, deepening the application of industrial internet identifier resolution and blockchain technology, strengthening cross-domain data management, and providing a secure and reliable environment for data circulation. It encourages platforms to open their data resources to SMEs, providing them with inclusive technical tools and data products. It also strengthens intellectual property protection throughout the entire process of industrial data resource development and utilization, safeguarding the rights and interests of all parties.On January 13th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for Promoting High-Quality Development of Industrial Internet Platforms (2026-2028)," which mentions supporting platforms in expanding the use of labor, capital, knowledge, technology, and data to improve the efficiency of networked resource allocation and collaboration. It encourages platforms to deepen the integration and application of digital and intelligent technologies, enrich the supply of high-quality solutions, and promote the digital transformation of the entire manufacturing process. It guides platforms to address the transformation needs of SMEs, cultivate a batch of low-cost, easy-to-deploy, and highly versatile standardized products, and create a resource pool of "small, fast, lightweight, and accurate" digital solutions. It supports platforms in exploring diversified business models, enhancing their sustainable operational capabilities, and achieving value symbiosis between platforms, user enterprises, and partners.Note: The French government budget for November has not yet been released.On January 13th, the Ministry of Industry and Information Technology (MIIT) issued the "Action Plan for Promoting High-Quality Development of Industrial Internet Platforms (2026-2028)," which mentions vigorously developing specialized platforms for general scenarios such as simulation design, equipment operation and maintenance, and safety and environmental management, to improve the supply level of digital and intelligent products and services. It also emphasizes cultivating industry-specific platforms, enhancing the development and deployment capabilities of digital and intelligent solutions for vertical industries, promoting the integration of digital threads within enterprises, and strengthening collaborative transformation across the industrial chain. Furthermore, it calls for accelerating the promotion of collaborative platforms, focusing on needs such as transaction matching, centralized procurement and sales, and industry-finance cooperation to facilitate the efficient flow and allocation of production factors. The plan also includes classifying and grading platforms, establishing a "basic, growth, leading, and ecosystem" cultivation mechanism, formulating a platform cultivation and optimization work plan, and improving the dynamic evaluation mechanism for industrial internet platforms. Finally, it encourages qualified enterprises to open up the service capabilities of their self-built and self-used platforms.

Once Again, Gold Plunges While the Dollar Soars; 'Hot Inflation' Data Awaited

Haiden Holmes

Jul 13, 2022 11:01

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Gold has retreated to the mid-$1,700 level as a result of another day and another twenty-year high for the dollar.


Gold futures for August delivery settled at $1,724.80 per ounce on the New York Comex, down $6.90, or 0.4%.


Even though the week has just begun, the gold benchmark contract on the Comex is already down 1%. This extends gold's four-week decline, which has resulted in a cumulative loss of $150, or 8%, since the week ending June 3. Gold has declined by 6 percent year-to-date.


The Dollar Index, which measures the U.S. dollar to six other major currencies, has surpassed 108 since October 2002.


"Gold prices are clinging to life as the dollar's surge hits a key milestone," said OANDA analyst Ed Moya.


"Gold will eventually see safe-haven flows, but only after a firm dollar peak has been established. The very volatile inflation figures scheduled to be released tomorrow will likely challenge gold's capacity to sustain its position above $1700.


Inflation in the United States has been at four-decade highs since late last year, with the widely followed Consumer Price Index climbing at an annualized rate of 8.6 percent as of May. The report for June is expected to show an 8.8 percent increase on Wednesday.


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