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On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, during which a report was heard on the construction of the national comprehensive transportation system. The meeting emphasized the need for coordinated advancement of transportation infrastructure construction, adhering to integrated planning and systematic integration, effectively utilizing existing resources and optimizing new supply. It stressed the importance of improving management and service levels, creating a more convenient travel environment to facilitate the smooth flow of people and goods, and promoting cost reduction, quality improvement, and efficiency enhancement in freight transportation. The meeting also called for deepening reform and innovation, building a unified and open transportation market, actively promoting the application of new technologies, developing new transportation business models safely and orderly, and cultivating more new growth points.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, which discussed and promoted work related to resolving local government debt risks. The meeting pointed out that since the implementation of the comprehensive debt reduction plan, significant progress has been made in resolving debt risks. It is necessary to continue focusing on key areas and weak links, improve policies supporting debt reduction, enhance local governments ability to repay debts independently, and ensure the timely completion of debt reduction tasks. It is also necessary to establish and improve a long-term mechanism to resolutely prevent the creation of new hidden debt.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, emphasizing the need to strengthen the planning and construction of water networks, new power grids, computing power networks, next-generation communication networks, urban underground pipe networks, and logistics networks. He stressed that efforts to ensure peoples livelihoods should focus on stabilizing employment and providing a safety net, while also improving education, healthcare, childcare, and rural development. He called for greater efforts and more concrete measures to strengthen basic research, placing it high on the agenda, identifying key areas and priorities based on both urgent national needs and long-term objectives, increasing investment through multiple measures, and fostering a favorable research environment.On May 9th, according to CCTV, Li Qiang chaired an executive meeting of the State Council, which reviewed and approved the "Draft Implementation Regulations of the Mineral Resources Law of the Peoples Republic of China." The meeting emphasized the need to strengthen the management of the entire mineral resource chain in accordance with the law, scientifically determine the list of strategic mineral resources, improve resource reserves and emergency response systems, and comprehensively enhance the level of mineral resource security.According to CCTV: Li Qiang chaired an executive meeting of the State Council to study and promote relevant work on resolving local government debt risks.

XRP Leads Binance-Fueled Rebound

Steven Zhao

Nov 15, 2022 16:44

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The top ten cryptocurrency exchanges had a bullish Monday session. BTC increased for the second time in nine sessions, with XRP taking the lead. Notably, BTC fell below $17,000 for the fourth time since 2020 at the close of the day.


Early on in the day, investor sentiment was still being affected by market anxiety over FTX's downfall.


However, the market quickly recovered after hearing that Binance was introducing a cryptocurrency recovery fund. Fear of a pandemic was reduced by the recovery fund. The crypto market was under $800 billion, which led to a robust buying demand.


The markets, however, will probably require more information to support a consistent recovery of the losses from last week. The NASDAQ Composite Index, which finished the day with a loss of 1.12%, and the crypto market continued to dissociate from one another.


Prior to today's wholesale inflation statistics, the NASDAQ was negatively impacted by the Fed's conflicting policy signals. The NASDAQ Mini gained 36 points this morning.