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Germanys unadjusted current account balance for June was €19 billion, compared to €10.4 billion in the previous month.On August 12, the Peoples Bank of China (PBOC) released its 2026 Q2 China Monetary Policy Implementation Report. The report emphasizes continuing to implement a moderately loose monetary policy. It further promotes interest rate liberalization and smooths the transmission channels of monetary policy. The PBOC strengthens its guidance on policy interest rates and improves the market-based interest rate formation and transmission mechanism. It strengthens the implementation and supervision of interest rate policies, conducting timely enforcement inspections and on-site assessments of financial institutions interest rate policy implementation and pricing capabilities to promote improved interest rate pricing capabilities. The report also emphasizes better leveraging the market-based interest rate pricing self-regulatory mechanism, effectively implementing various interest rate self-regulatory initiatives, strengthening the regulation of unreasonable market behaviors that could weaken monetary policy transmission, and maintaining market competition order. It promotes the diversification of loan pricing benchmarks. The report continues to deepen the disclosure of comprehensive financing costs for corporate loans, standardizes credit market operations, reduces intermediary financing costs, and promotes low overall social financing costs. Finally, it steadily deepens exchange rate liberalization, improves the managed floating exchange rate system based on market supply and demand and referencing a basket of currencies, upholds the decisive role of the market in exchange rate formation, and leverages the exchange rates function as an automatic stabilizer for the macroeconomy and balance of payments.On August 12, the Peoples Bank of China released its 2026 Q2 China Monetary Policy Implementation Report. The report emphasizes continuously enhancing the functions of the bond market and its ability to serve the real economy. It calls for high-quality development of the "technology board" in the bond market, effectively utilizing risk-sharing tools for technological innovation and private enterprise bonds, and supporting more private technology companies and private equity investment institutions in issuing bonds for financing. The report also promotes the development of corporate bond legislation, accelerates the development of a multi-tiered bond market, and steadily and prudently advances the development of over-the-counter bond business. It further emphasizes continuously standardizing issuance pricing, underwriting, and market-making practices, and strengthening risk monitoring in key areas and industries. The report supports more eligible overseas entities in issuing Panda bonds. Finally, it calls for continuously optimizing the cross-border RMB policy system, integrating and optimizing previously released cross-border RMB settlement policies, and improving the understandability and operability of these policies.On August 12, the Peoples Bank of China (PBOC) released its 2026 Q2 China Monetary Policy Implementation Report. The report outlines the construction of a comprehensive macro-prudential management system and the improvement of mechanisms for preventing and resolving systemic financial risks. From macroeconomic, counter-cyclical, and contagion prevention perspectives, the report emphasizes strengthening the monitoring, assessment, and early warning of systemic financial risks, continuously expanding the scope of macro-prudential management, and enriching the macro-prudential policy toolbox. It also expands and enriches the central banks macro-prudential and financial stability functions, innovates financial instruments, and maintains the smooth operation of financial markets. The report strengthens macro-prudential management of systemically important financial institutions, deepens the construction of the supplementary regulatory system, and steadily expands the coverage of supplementary supervision to the non-bank sector. It further solidifies supplementary supervision of systemically important banks, guides selected banks to continuously improve their recovery and resolution plans, and explores the role of forward-looking risk management guidance. Finally, it improves the mechanism of the global systemically important bank cross-border crisis management team, strengthening cross-border regulatory cooperation and information sharing.On August 12th, the Peoples Bank of China (PBOC) released its 2026 Q2 China Monetary Policy Implementation Report. The report emphasizes continuing to implement a moderately loose monetary policy, supporting investment in major projects. It outlines arrangements for pledged supplementary lending (PSL) to support policy-oriented development financial institutions in utilizing new policy-based financial instruments to supplement the capital of major projects. The focus is on supporting the digital economy, artificial intelligence, consumer infrastructure, and urban renewal sectors such as transportation, energy, and underground pipeline construction and renovation, thereby promoting better financial services to the real economy and driving increased effective investment. The outstanding balance of PSL at the end of June was 0.8 trillion yuan.

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.