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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.On January 13, the Ministry of Industry and Information Technology issued the "Action Plan for Promoting the High-Quality Development of Industrial Internet Platforms (2026-2028)". By 2028, the high-quality development of industrial internet platforms will achieve positive results. The multi-level platform system of "professional + industry + collaborative" will continue to grow, with more than 450 platforms having a certain influence. The platforms ability to connect element resources will be greatly enhanced, and the data value-added, model accumulation, and artificial intelligence development and application capabilities of key platforms will be significantly improved. The number of connected industrial equipment will exceed 120 million units. The platform penetration rate will reach more than 55%, and a new generation of industrial internet platform ecosystem characterized by ubiquitous interconnection, digital intelligence integration, deep collaboration, and open source will be basically established.

The Devil Is In The Details: Gold Analysis - Federal Reserve Minutes

Larissa Barlow

Apr 07, 2022 10:33

Analyses of Federal Reserve Minutes 

While both the FOMC statement and Chairman Powell's press conference provide market participants with information about the FOMC's updated and revised monetary policy, it is the release of the minutes that provides investors with significantly greater clarity and understanding. The devil, as they say, is in the details.

 

The Federal Reserve issued the official minutes from its March FOMC meeting today, providing insight into the central bank's current plans to begin unwinding its balance sheet assets. Beginning in March 2020, the Federal Reserve will add around $4.6 trillion to its balance sheet by purchasing $120 billion monthly in mortgage-backed securities ($40 billion) and US Treasury securities ($80 billion), bringing their total to just over $9 trillion.

 

According to Federal Reserve Governor Lael Brainard, the Fed intends to employ a mix of interest rate rises and a quick run-off of the balance sheet to bring US monetary policy closer to neutral later this year.

 

However, the minutes released today imply that the Federal Reserve will unwind around $3 trillion over the next three years, reducing its $9 trillion balance sheet to $6 trillion. While the Fed appears to be indicating a quick runoff of its balance sheet, the reality is that the Federal Reserve's balance sheet will be nearly $2 trillion larger than it was prior to the epidemic.

 

"Participants continued their discussion on plans to reduce the size of the Federal Reserve's balance sheet in a manner consistent with the methodology outlined in the Committee's Principles for Reducing the Size of the Federal Reserve's Balance Sheet, announced following its January meeting."

 

Additionally, the minutes stated, "While no decision was made regarding the Committee's plan to reduce the Federal Reserve's balance sheet at this meeting, participants agreed that significant progress had been made on the plan and that the Committee was well positioned to begin the process of reducing the balance sheet's size as soon as after the conclusion of its upcoming May meeting."


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