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On May 25th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.5120%, and the lowest was 0.7120%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0270%, and the lowest was 0.0030%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0500%, and the lowest was 1.0000%.On May 25th, at the International Symposium on Circuits and Systems (ISCAS 2026), He Tingbo, Director of Huawei and President of its Semiconductor Business Unit, stated that the Kirin mobile phone chip, slated for release this fall, is the first to adopt logic folding technology, resulting in a significant performance improvement. He Tingbo said, "The Kirin 2026 mobile phone chip represents the first successful implementation of logic folding technology. In the next ten years, we will continue to move towards full folding, and even more layers of folding, continuously optimizing the entire stack performance from devices and circuits to chips and systems."On May 25th, Yu Yuan Tan Tian published an article stating that the nine-year technological competition between China and the US has yielded two conclusions: First, it is impossible for the US to disrupt Chinas technological development through extreme pressure. Over the past nine years, the so-called "decoupling" has even spurred breakthroughs in Chinese technology: the production capacity of mature chip manufacturing processes has continued to ramp up, achieving a historic breakthrough in integrated circuit product exports exceeding one trillion yuan; "bottleneck" technologies are being continuously tackled; and domestic large-scale substitution has been achieved in areas such as chip etching and packaging. Second, cooperation can create space for common development for both China and the US. Today, China and the US are almost simultaneously at the forefront in fields such as artificial intelligence, advanced manufacturing, new energy, and quantum technology. Many issues require joint solutions from both sides.On May 25th, the Chicago Mercantile Exchange Group announced plans to launch a futures market for AI computing power this year. With the demand for computing power experiencing exponential growth, computing power will accelerate its assetization and financialization, potentially evolving from a single product into an ecosystem. In response to questions regarding whether Hong Kong has initiated research and feasibility studies on computing power futures products, the Hong Kong Stock Exchange stated that it currently has no comment on computing power futures and will release relevant information to the market in a timely manner if any becomes available.The Peoples Bank of China announced today that it conducted 258 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 258 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.