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On March 5th, an explanation regarding the draft Ecological and Environmental Code stated that the compilation of the Ecological and Environmental Code adopted a moderate codification model, handling the compilation work in three categories: First, all 10 existing laws, including the Environmental Protection Law, will be incorporated into the Ecological and Environmental Code after compilation and revision. These laws will no longer be retained after the codes promulgation. Second, existing laws and regulations concerning ecological elements such as river basins, regions, natural resources, biodiversity, ecosystems, circular economy, and energy conservation will be selected and incorporated into the Ecological and Environmental Code, reflecting their key principles. These laws will remain after the codes promulgation. Third, the code considers the legal needs related to climate change, carbon peaking and carbon neutrality, and green and low-carbon development, areas for which specific laws are currently lacking. The compilation of the Ecological and Environmental Code should include some principled and guiding provisions to establish principles, lay the foundation, and leave room for future development of related legal systems and practices in my country, reflecting the codes timeliness and forward-looking nature.March 5th - One of Japans largest labor unions will demand higher wage increases from employers than last year. The Bank of Japan is closely monitoring wage trends to assess the situation ahead of its policy meeting later this month. According to statistics released on Thursday, 466 unions affiliated with UA Zensen are seeking an average wage increase of 6.46% for full-time employees. Last year, the organization demanded a 6.11% increase, with a final agreement reached at 4.75%. UA Zensen represents approximately 1.9 million members across industries including retail, food service, materials, and services. The organization plans to release its first batch of wage agreement statistics on March 19th. The Bank of Japan is closely monitoring the negotiations to see if strong wage growth will boost consumption, leading to signs of sustained demand-driven price increases, a key condition for its continued gradual normalization of policy through interest rate hikes.March 5th - According to AXIOS, two sources revealed that Venezuelas state-owned mining company signed a multi-million dollar agreement on Monday to sell up to 1,000 kilograms of gold to the US market. This demonstrates the increasingly close commercial ties between Venezuela and the United States. One source stated that the gold deal requires Venezuelan state-owned enterprise Minerven to supply 650 to 1,000 kilograms of gold ingots to commodities trader Trafigura. The contract requires a final gold content of 98%. Currently, one kilogram of pure gold is priced at approximately $166,000. Another source indicated that Trafigura will ship the gold to US refineries under a separate arrangement with the US government. US Interior Secretary Doug Burgum arrived in Venezuela on Wednesday to discuss oil and mineral opportunities and helped facilitate this gold contract.According to Fox News: U.S. Energy Secretary Wright stated that natural gas prices will fall again. He believes it wont be long before oil prices drop below $3 per gallon.According to the Axios website, Venezuelas state-owned mining company has signed an agreement worth tens or even hundreds of millions of dollars to sell up to 1,000 kilograms of gold, which will flow to the US market.
