EUR/USD
1.16423
0.318%
Gold
4555.52
1.049%
Oil
90.923
-4.560%
USD/JPY
158.928
-0.147%
GBP/USD
1.34885
0.365%
GBP/JPY
214.375
0.225%
Real-time News
On May 25th, the State Council announced the following appointments and removals of state personnel: Gao Song was appointed President of Peking University; Zhang Yunming was removed from his post as Vice Minister of Industry and Information Technology; Gong Qihuang was removed from his post as President of Peking University; and Gao Song was removed from his post as President of Sun Yat-sen University.On May 25th, the Hangzhou Municipal Science and Technology Bureau drafted the "Hangzhou Action Plan for Building a National AI+OPC Entrepreneurship Hub (2026-2028) (Draft for Public Comment)," the "Several Policy Measures for Building a National AI+OPC Entrepreneurship Hub in Hangzhou (Draft for Public Comment)," and the "Hangzhou AI+OPC Community Construction Guidelines (Draft for Public Comment)." These documents are now open for public comment. The draft emphasizes strengthening the supply of computing power and models. It supports OPC communities in increasing investment in AI infrastructure, collaborating with leading blockchain companies and research institutions to build lightweight AI tool platforms, and providing OPCs with low-cost computing power, models, and other services. For OPCs, it recommends utilizing AI service vouchers (computing power vouchers, intelligence vouchers, model vouchers, and terminology vouchers), appropriately increasing the subsidy ratio to offset key costs in the early stages of OPC entrepreneurship. It also explores establishing "AI product experience vouchers" to support university students in Hangzhou in experiencing AI products released by the OPC online open community. By 2028, 30 outstanding intelligent agent applications with advanced performance and successful implementation will be selected, and the city and district levels will provide no less than 1 billion yuan in artificial intelligence service vouchers.Iranian Foreign Ministry spokesman: We have no expectations of the Israeli regime, except that they will undermine any process that could ease tensions in the region.On May 25, the Belgorod Oblast Operations Command in Russia stated on social media that the region had been hit by two large-scale missile attacks by Ukrainian forces, resulting in one injury. The attacks damaged energy infrastructure and an administrative building. Reports indicate power and water outages. On the same day, the governor of the Yaroslavl Oblast in Russia stated on social media that Ukrainian forces launched a large-scale drone attack on the region overnight, injuring one person. Ukraine has not yet responded to the Russian claims.On May 25th, analysts at Natixis stated in a report that expectations for a European Central Bank (ECB) rate hike appear overly optimistic following recent data showing the fragility of the Eurozone economy. They stated, "Current pricing in ECB policy expectations remains aggressive relative to the potential deterioration of the Eurozones growth outlook." Preliminary Eurozone purchasing managers data for May, released last week, was unexpectedly weak, as high oil prices dampened consumer and business confidence. Data from the London Stock Exchange Group shows that the Eurozone money market reflects an 80% probability of a 25 basis point rate hike by the ECB in June, fully accommodating expectations of two rate hikes before the end of the year.
