Category: Business

  • MIL-OSI China: Google’s Gemini has 400M monthly active users

    Source: People’s Republic of China – State Council News

    Google’s Gemini AI app now has more than 400 million monthly active users, the company’s CEO Sundar Pichai said Tuesday during a press briefing ahead of Google I/O 2025.

    Pichai said that Google’s AI overviews now reach more than 1.5 billion users every month. The company also announced during Google I/O 2025 that it’s putting AI mode in front of more users, as Google tries to update Search with more conversational experiences powered by generative AI.

    The Gemini app is Google’s most direct challenge to compete with OpenAI in the chatbot era. According to Google’s recent court filings for its ongoing antitrust suit, the company estimated in March that Gemini had 350 million monthly active users, whereas ChatGPT had around 600 million. 

    MIL OSI China News

  • MIL-OSI China: China’s pizza market to exceed 100B yuan within 5 years: report

    Source: People’s Republic of China – State Council News

    Visitors taste pizza at the booth of Italy at 2025 Chengdu Europe Culture Season & European Culture Street in Chengdu, southwest China’s Sichuan Province, April 12, 2025. [Photo/Xinhua]

    China’s pizza market is projected to surpass 100 billion yuan (about 13.9 billion U.S. dollars) over the next five years, driven by rapid growth in lower-tier cities and rising demand for delivery and ready-to-eat products, according to an industry report.

    The market is forecasted to grow from 48 billion yuan in 2024 to 60.8 billion yuan in 2025, said the report released at the ongoing SIAL Shanghai, an international food exhibition. China had more than 60,000 pizza outlets nationwide by the end of March.

    Between 2016 and 2022, pizza chains in China’s third-tier cities and below grew at a compound annual growth rate of 10 percent, outpacing 7.6 percent growth in first-tier cities. An estimated 15,000 new stores are expected to open in lower-tier markets between 2025 and 2027.

    China’s online pizza market share surpassed in-store sales for the first time in 2022, reaching 58.1 percent. The proportion is expected to continue rising in the coming years, according to the report.

    Pizza entered the Chinese mainland in 1990 with the launch of the first foreign-invested restaurant. Initially considered a premium Western offering confined to top-tier cities, the food item has gained traction over the past decades.

    Analysts attribute the market expansion to increased food delivery adoption, rising consumer spending in smaller cities, and growing demand for personalized, healthier pizza options tailored to local tastes.

    The report noted that despite this momentum, China’s pizza store density remains low compared with other countries. As of 2022, China had 11.7 pizza outlets per million people, compared with 232.4 in the United States and roughly one-third the density of Japan and the Republic of Korea, suggesting ample room for further expansion.

    According to industry experts, the evolution of China’s pizza market reflects both the openness of its consumer market and long-term growth potential.

    SIAL Shanghai, an international food and beverage trade show co-hosted by multiple organizations including France’s Comexposium Group and the China General Chamber of Commerce, spans 200,000 square meters and features more than 5,000 exhibitors from 75 countries and regions.

    The event runs from May 19 to 21 in the eastern Chinese metropolis. 

    MIL OSI China News

  • MIL-OSI Economics: Money Market Operations as on May 20, 2025

    Source: Reserve Bank of India


    (Amount in ₹ crore, Rate in Per cent)

      Volume
    (One Leg)
    Weighted
    Average Rate
    Range
    A. Overnight Segment (I+II+III+IV) 5,74,008.90 5.67 0.01-6.75
         I. Call Money 16,733.50 5.79 4.85-5.85
         II. Triparty Repo 3,77,859.80 5.66 5.62-5.80
         III. Market Repo 1,77,682.60 5.69 0.01-6.75
         IV. Repo in Corporate Bond 1,733.00 5.87 5.82-6.75
    B. Term Segment      
         I. Notice Money** 131.30 5.76 5.40-5.85
         II. Term Money@@ 725.00 6.10-6.10
         III. Triparty Repo 2,185.00 5.83 5.70-5.90
         IV. Market Repo 1,031.95 5.68 5.35-5.98
         V. Repo in Corporate Bond 0.00
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 20/05/2025 1 Wed, 21/05/2025 4,617.00 6.01
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF# Tue, 20/05/2025 1 Wed, 21/05/2025 435.00 6.25
    4. SDFΔ# Tue, 20/05/2025 1 Wed, 21/05/2025 2,24,630.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -2,19,578.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
      (III) Long Term Operations^          
         (a) Repo Thu, 17/04/2025 43 Fri, 30/05/2025 25,731.00 6.01
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,735.56  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     34,466.56  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -1,85,111.44  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on May 20, 2025 9,66,107.38  
         (ii) Average daily cash reserve requirement for the fortnight ending May 30, 2025 9,48,817.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ May 20, 2025 4,617.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 02, 2025 2,34,873.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    ^ As per the Press Release No. 2025-2026/91 dated April 11, 2025.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/377

    MIL OSI Economics

  • MIL-OSI USA: Lummis Introduces Landmark Autonomous Vehicle Legislation to Accelerate Safe Deployment

    US Senate News:

    Source: United States Senator for Wyoming Cynthia Lummis
    Washington, D.C.— Senator Cynthia Lummis (R-WY), member of the U.S. Senate Committee on Commerce, Science, and Transportation, this week introduced the Autonomous Vehicle Advancement Act, groundbreaking legislation aimed at transforming autonomous vehicle (AV) deployment in the United States. The Autonomous Vehicle Advancement Act seeks to move the nation beyond policy discussions and toward practical implementation of self-driving technology.
    “For nearly a decade, Washington has talked about autonomous vehicles without meaningful action,” Lummis said. “This legislation cuts through the red tape and establishes a clear path forward for getting safe autonomous vehicles on American roads where they can save lives, create jobs, and maintain our technological leadership. Wyoming is a highway state and ensuring that autonomous vehicles are integrated in the safest way possible remains my number one priority.”
    Background:
    The bill addresses two critical components for AV advancement:
    1. It requires federal agencies to implement recommendations from the landmark 2016 federal report on autonomous vehicles within one-year, jumpstarting progress on long-dormant policy objectives.
    2. Most significantly, the legislation establishes a comprehensive roadmap for achieving commercially viable Level 4 and Level 5 autonomous vehicles – advanced self-driving systems that require minimal to no human intervention. The Secretary of Transportation will be tasked with identifying essential needs and regulatory barriers that must be addressed to facilitate widespread deployment.
    Read the full bill text here.

    MIL OSI USA News

  • MIL-OSI Australia: Attention all trustees: Top 5 EOFY checklist!

    Source: New places to play in Gungahlin

    As the 30 June deadline for trust resolutions approaches, it’s crucial for trustees and their advisers to be clear about their obligations. Our end of financial year (EOFY) checklist will help you avoid basic trust errors that can arise if you don’t fully understand your obligations or take reasonable care to get things right.

    1. Understand how income is defined for the trust estate.

    Trustees must be familiar with their trust deeds and accurately determine the income of the trust estate for each financial year. Common errors include actions that are inconsistent with the deed, mistaking accounting profit for distributable income, and misinterpreting trustee powers. To avoid these errors, trustees should:

    • review the trust deed and distribute income according to each beneficiary’s entitlements
    • review the trust deed to understand how it defines income.
    1. Identify the trust’s beneficiaries.

    Trustees need to correctly identify the beneficiaries of their trust. Errors often occur when trustees fail to read the deed, distribute to non-beneficiaries, or distribute outside the family group when a family trust election (FTE) or interposed entity election (IEE) is in place. To prevent these mistakes, trustees should:

    • identify beneficiaries as per the trust deed
    • ensure all entitled beneficiaries quote their TFN and are notified of their entitlement.
    1. Understand resolutions and present entitlement.

    Trustees must make valid resolutions to appoint or distribute income to beneficiaries by

    30 June of the relevant tax year. If resolutions aren’t made by this date, the trustee may be liable for all income of the trust and taxed at their marginal rates. Errors such as invalid resolutions and back-dated resolutions can be avoided by:

    • reading the trust deed
    • making clear and timely resolutions.
    1. Identify any family trust elections (FTE) or interposed entity elections (IEE).

    A family trust is a trust where the trustee has made a valid FTE. Family trusts can access tax concessions but, distributions made outside the family group will trigger family trust distributions tax (FTDT). This is a specific 47% tax payable by the trustee on the distribution. The Commissioner has no discretion with FTDT once it is triggered. Therefore, trustees should be vigilant about existing FTEs or IEEs in place and maintain accurate records.

    We’re seeing an increase in trustees distributing outside the family group triggering FTDT. To limit FTDT risks, trustees should:

    • be aware of all FTE or IEEs made and their family group
    • keep copies of all elections.
    1. Maintain clear and accurate records.

    Poor record keeping is the most common cause of issues related to trusts. Trustees need to understand that they’re personally liable for the debts of the trusts they administer. Keeping complete and accurate records can prevent unforeseen tax liabilities falling upon the trustee.

    More resources

    You can also use our Trust tax-time toolkit for more useful information, checklists and tips to ensure you correctly meet your trust tax obligations.

    We also recommend you favourite or bookmark our comprehensive web Trustscontent so you can access it whenever you need it.

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    MIL OSI News

  • MIL-OSI USA: 05.20.2025 Sen. Cruz’s ‘No Tax on Tips’ Legislation Passes Senate

    US Senate News:

    Source: United States Senator for Texas Ted Cruz
    WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) issued a statement following the passing of his No Tax on Tips Act in the U.S. Senate with a vote of 100-0. This bipartisan legislation will exempt tips from being subject to taxation under the federal income tax.
    Sen. Cruz said, “President Trump made a promise to the American people that he would eliminate taxes on tips. In Congress, I formed a bipartisan, bicameral coalition to get that done, and in the Senate introduced the No Tax on Tips Act. Today, I went with Senator Rosen to the floor to secure Senate passage of the bill. This legislation will have a lasting impact on millions of Americans by protecting the hard-earned dollars of blue-collar workers, the very people who are living paycheck-to-paycheck. I urge my colleagues in the House to pass this important bill and send it to the President’s desk to be signed into law.”
    BACKGROUND
    The bill exempts “cash tips”—cash, credit and debit card charges, and checks—from federal income tax by allowing taxpayers to claim a 100% deduction at filing for tipped wages. The updated text includes guardrails to ensure only traditionally tipped employees will benefit from No Tax on Tips.
    Read the bill text here.
    Sen. Cruz has consistently prioritized tax cuts and job access:
    Sen. Cruz helped enact historic tax reform in 2017, which gave a tax cut to virtually every taxpayer in America. It reduced taxes on small businesses, farmers, ranchers, and job producers, which has helped bring jobs to Texas.
    He has fought to make permanent the 2017 historic tax cuts for individuals.
    Sen. Cruz also helped pass the USMCA trade agreement, which was signed by President Trump, a decisive victory for Texas farmers, ranchers, businesses, and manufacturers.
    For his efforts to support Texas businesses large and small, Sen. Cruz received the U.S. Chamber of Commerce’s prestigious “Spirit of Enterprise” award.

    MIL OSI USA News

  • MIL-OSI Security: Business Owner Pleads Guilty to Fraud and Money Laundering Schemes

    Source: United States Department of Justice (National Center for Disaster Fraud)

    PHILADELPHIA – United States Attorney David Metcalf announced that Zaven Yeghiazaryan, 44, of Newtown, Pennsylvania, pleaded guilty before the Honorable Gerald J. Pappert to 13 counts of an indictment charging him with conspiracy, health care fraud, wire fraud, and money laundering in connection with his execution of a variety of schemes.

    The charges arose from the defendant’s commission of fraud offenses targeting, among others, government programs, including through the use of shell companies and false identities, between January 2020 and April 2024. The defendant’s fraud offenses targeted two government programs which offered relief during the Covid-19 pandemic: the Small Business Administration’s Economic Injury Disaster Loan program, and the Pandemic Unemployment Assistance Program. In addition, the defendant admitted that he participated in a scheme to defraud the Medicaid program.

    Based upon his guilty pleas to the 13 counts, the defendant faces a maximum possible sentence of 230 years in prison, a three-year period of supervised release, and a $3,250,000 fine, restitution of $334,905 and forfeiture. Sentencing is scheduled for September 4, 2025.

    The case was investigated by the Social Security Administration – Office of the Inspector General, Internal Revenue Service – Criminal Investigation, the United States Postal Inspection Service, Homeland Security Investigations, the Department of Health and Human Services – Office of Inspector General, the United States Department of Labor, the United States Department of Transportation – Office of the Inspector General and the State Department. It is being prosecuted by Assistant United States Attorneys Mary E. Crawley and Special Assistant United States Attorney Megan Curran. 

    MIL Security OSI

  • Airstrikes kill dozens in Gaza, international criticism of Israel grows

    Source: Government of India

    Source: Government of India (4)

    Israeli forces killed at least 55 Palestinians in airstrikes in Gaza on Tuesday, local medics said, continuing to bombard the enclave despite mounting international pressure to halt military operations and allow unimpeded deliveries of aid.

    Britain announced it was suspending trade talks with Israel and summoning its ambassador over “egregious policies” in the occupied West Bank and Gaza, while European Union foreign policy chief Kaja Kallas asked for a review of the EU-Israel trade deal, according to Dutch news agency ANP.

    The war, now in its 20th month, has left Gaza in ruins and its population facing a worsening hunger crisis. It has strained Israel’s relations with much of the world and those with its closest ally, the United States, now appear to be wavering.

    The United Nations said no humanitarian aid had been distributed yet in Gaza, although Israel eased its 11-week-old blockade on Monday.

    “Israeli authorities are requiring us to offload supplies on the Palestinian side of Kerem Shalom crossing and reload them separately once they secure our team’s access from inside Gaza,” said U.N. spokesperson Stephane Dujarric.

    He said four trucks of baby food were dropped off on the Palestinian side of the border on Monday, and that a few dozen trucks of flour, medicine, nutrition supplies and other basic items entered Gaza on Tuesday.

    Israel’s military said 93 UN aid trucks entered Gaza on Tuesday via Kerem Shalom “after a thorough security inspection”.

    Indirect ceasefire talks between Israel and Hamas militants in Qatar appeared to falter again, with Israeli Prime Minister Benjamin Netanyahu saying he had decided to bring back the senior negotiating team from Doha for consultations.

    Hamas accused Netanyahu of entering the talks in bad faith, pretending to participate in a bid to mislead global public opinion. “No real negotiations have taken place since last Saturday,” the Palestinian Islamist group said in a statement.

    Israel’s military chief said during a Gaza field tour that the army would expand its operations against Hamas, capture additional territory and “clear and destroy the terrorist infrastructure until (Hamas) is defeated”.

    18 DEAD IN AIRSTRIKE ON TWO HOMES, MEDICS SAY

    Israel conducted further airstrikes on Tuesday across the densely populated enclave and medics said the sites hit included two homes where children were among the 18 dead, and a school housing displaced families.

    Israel’s military, which on Monday warned those in the southern Gaza city of Khan Younis to evacuate to the coast as it prepared for an “unprecedented attack”, had no comment. Israel says Hamas uses civilian buildings for cover; Hamas denies this.

    In Gaza City, Reuters footage showed men, women and children sifting through the rubble of the Daraj neighbourhood school where they had been sheltering, and where charred pieces of clothing and a red teddy bear lay among scattered belongings.

    At nearby Al-Ahli Hospital, men said prayers over bodies wrapped in white shrouds, before carrying them to their graves.

    “What is our fault? What is the fault of children? What is the fault of the women we found on the stairs with their hair and clothes torn and burned?” said Omar Ahel, who had been sheltering at the school. “By God, this is injustice.”

    Israeli strikes have killed more than 500 people in the past nine days as the military campaign has intensified, Gaza medics say.

    SANCTIONS

    British Prime Minister Keir Starmer told parliament he, along with the leaders of France and Canada, was “horrified” by Israel’s military escalation, repeating calls for a ceasefire.

    The three nations had warned on Monday of “concrete actions” against Israel if it did not stop military operations in Gaza and lift restrictions on aid.

    In addition to suspending trade talks, Britain announced sanctions against a number of individuals and groups in the Israeli-occupied West Bank over alleged violence against Palestinian residents.

    EU sanctions on violent Israeli settlers have been prepared but have so far been blocked by one member state, the EU’s Kallas said, without naming the country.

    “External pressure will not divert Israel from its path in defending its existence and security against enemies who seek its destruction,” Israeli Foreign Ministry spokesperson Oren Marmorstein posted on X.

    Israel’s ground and air offensive has displaced nearly all Gaza’s 2.3 million residents and killed more than 53,000, according to Gaza health authorities.

    The campaign began after Hamas-led militants attacked Israeli communities near Gaza’s border in October 2023, killing about 1,200 people and seizing 251 hostages, according to Israeli tallies.

    The hunger crisis in Gaza deepened after Israel imposed a blockade on supplies from March 2. The U.N. says at least 500 trucks of aid and commercial goods need to enter Gaza every day to alleviate the humanitarian crisis.

    Louise Wateridge of the U.N. Palestinian refugee agency UNRWA said on Tuesday there was little food left.

    “Everything’s empty. The warehouses, the distribution centres, they’ve been empty for weeks,” she said, speaking from a warehouse in Jordan that she said had food for 200,000 people that could be driven to Gaza in just a few hours.

    Israel’s leadership has insisted that it can free remaining hostages and dismantle Hamas through stepped-up military action. Hamas has said it would free the hostages in exchange for an end to the war and the release of Palestinians in Israeli jails.

    (Reuters)

  • MIL-OSI Australia: Interview with Karl Stefanovic, Today, Channel 9

    Source: Australian Parliamentary Secretary to the Minister for Industry

    Karl Stefanovic:

    Jim, good morning. Nice to see you. Looks like you just got out of the shower my man.

    Jim Chalmers:

    A couple of hours ago, Karl. Good morning. How are you?

    Stefanovic:

    The Coalition is taking a bath this morning. I mean, could you get more lucky?

    Chalmers:

    It’s obviously a mess on the former Coalition side of the parliament, but it’s really not our focus. As you said in your introduction, we saw interest rates cut yesterday for the second time in 3 months. We’re getting inflation down, we’re getting wages up, we’re keeping unemployment low. And that’s because our focus will continue to be on providing stable, responsible, considered, methodical economic leadership. And we saw some of the dividends of that yesterday when rates were cut again.

    Stefanovic:

    You’re restraining yourself from talking about it. I see that in your eyes, Jim. I’m sure it’s the scuttlebutt around town. Look, the makeup of the parliament we looked at it this morning, you guys weren’t that bloody good.

    Chalmers:

    We’re very grateful for the magnitude of the victory that we saw a few Saturdays ago. We’ve made it really clear we’re grateful for the support that was shown by the Australian community. I think they did go for that stability and that responsible economic management. We’ll hear more about that later today when our campaign director fronts the National Press Club.

    But we don’t want to waste the day. We’re grateful for the opportunity. We know that a second term is an opportunity to build more homes and roll out more renewables, make our economy more productive, get on top of this inflation challenge, help with the cost of living. And so that’s been our focus, really, throughout the first term, throughout the campaign, and it will be the major focus of our second term too.

    Stefanovic:

    Have you spoken to the PM about the Coalition dramas? I mean, as Phil Coorey points out this morning: the Prime Minister may as well do another couple of laps of the sun.

    Chalmers:

    I haven’t spoken to him about the Coalition. Obviously, we’ve had some interactions while he’s been overseas, but not about that. And on the second part of your question, I genuinely believe that things change quickly in politics. We’re not getting ahead of ourselves. Our working assumption is that elections are typically close in this country. The last one, notwithstanding, was a better result than what most people were anticipating. But we don’t underestimate our political opponents, and we don’t focus on them.

    Yesterday was a big event, it was a shambles, it was a mess, but it wasn’t our focus. My focus yesterday was on this interest rates decision which will provide welcome relief for millions of Australian families. We’ll continue to focus on the things that really matter to people, even while our political opponents continue to focus on themselves.

    Stefanovic:

    You’re expecting more mortgage relief later in the year. There are – plenty of speculation this morning that’s going to drive prices through the roof. How much of a concern is that?

    Chalmers:

    I don’t make predictions about future decisions taken by the independent Reserve Bank. Certainly the market and the economists expect that there will be more interest rate cuts to come and that won’t be the only factor when it comes to house prices. House prices are usually a combination of a whole range of factors. And so our focus is on continuing to put this downward pressure on inflation, keep unemployment low, get wages growing again, roll out our cost‑of‑living help and also build more homes because we want people to be able to access more affordable options.

    Stefanovic:

    All right. Finally, we now know Australia’s biggest super funds asked you to reconsider the super tax. They’ve had no luck with that. You’re staying stubborn on that, you will not change it?

    Chalmers:

    First of all, they said that publicly a couple of years ago. They made a public submission to, when we did one of the 3 rounds of consultation we did on these changes. We haven’t changed our policy that we took to the election. The policy that we announced a couple of years ago. I listen respectfully when people have got a range of views about this policy or indeed any policy, but we’ve made it clear what our priority is here and that’s how we intend to progress.

    Stefanovic:

    Can you fix the train network in Sydney this morning for us just before we go?

    Chalmers:

    I just saw that story on your news a bit earlier on. I hope people can get safely to work and that those issues can be resolved as quickly as possible.

    Stefanovic:

    Good on you, Jim. Always good to talk to you.

    Chalmers:

    Thanks Karl, you too.

    MIL OSI News

  • MIL-OSI Australia: Homegrown pioneer first project funded for Solar Sunshot

    Source: Ministers for the Department of Industry, Innovation and Science

    Australian solar pioneer 5B has been selected as the first project to receive funding from the Australian Government’s $1 billion Solar Sunshot Program to help expand Australia’s solar manufacturing industry.  

    Funding of up to $46 million will go to the Australian based company to increase manufacturing capacity of its highly innovative ‘Maverick’ – an automated solar deployment system using prefabricated, prewired panels. The technology has the potential to drastically speed up and scale up the roll out of solar farms, reducing the cost and labour intensity of current methods.  

    ARENA CEO Darren Miller said ARENA is excited to be announcing 5B as the first project under the Solar Sunshot Program to support solar manufacturing in Australia to accelerate the renewable energy transition.   

    “This project represents the best of homegrown Australian technology and innovation in solar and we are proud to support 5B’s goals of making solar deployment faster, cheaper, safer and more efficient.  

    “ARENA has a vision of reaching 1 terawatt of installed solar PV in Australia by 2050 to achieve our renewable energy ambitions. Projects like this are what we need to get there.” 

    “Today represents a step towards building Australia’s resilience in the solar value chain as the global demand for renewable energy technologies, products and knowledge intensifies.”  

    5B CEO David Griffin said this funding would drive down 5B’s Australian production costs by 25% and accelerate 5B’s ability to offer large customers lower cost energy alongside the safety, speed and land efficiencies unique to the 5B Maverick solution.  

    “It means we can further strengthen our team, creating opportunities from the factory floor, in our field deployment crews, and specialists working on gigawatts of solar farm designs.”  

    The funding will support the expansion of 5B’s Australian manufacturing capacity in solar to produce at least 200 MW of Maverick units at their Adelaide manufacturing facility over the next three years. The Maverick systems will support the demand for increased deployment of large-scale solar across Australia. 

    About Solar Sunshot  

    The Australian Renewable Energy Agency (ARENA) is delivering the $1 billion Solar Sunshot Program to support innovation in Australia’s solar photovoltaic (PV) manufacturing industry.   

    Solar Sunshot was announced by the Australian Government in March 2024 and aims to uncover and support innovation to drive scale and diversity in a critical industry.    

    Australia benefits from strong renewable energy potential, high-quality, abundant raw materials, and a long track record of excellence in research and development.   

    Solar Sunshot aims to harness these advantages so that Australia can strengthen and diversify its supply chains and create economic opportunities.    

    Round 1A offers $500 million of capital and production-linked funding for solar PV manufacturing innovation, with a focus on modules, inputs to modules and deployment systems (closed). 

    Round 1B offers $50 million of funding to support solar PV manufacturing studies, including feasibility and engineering studies (remains open).  

    Funding to 5B has been awarded under Round 1A of the Program. 

    Learn more at https://arena.gov.au/funding/solar-sunshot/   

    ARENA media contact:

    media@arena.gov.au

    Download this media release (PDF 151KB)

    MIL OSI News

  • MIL-OSI: AMD Introduces New Radeon Graphics Cards and Ryzen Threadripper Processors at COMPUTEX 2025

    Source: GlobeNewswire (MIL-OSI)

    – Radeon RX 9060 XT brings next-gen gaming experiences and FSR 4 ML-powered upscaling to mainstream users –

    – Threadripper 9000 Series and Radeon AI PRO R9700 redefine workstation and high-end desktop performance with full-spectrum compute and local AI processing –

    TAIPEI, Taiwan, May 20, 2025 (GLOBE NEWSWIRE) — At COMPUTEX 2025, AMD (NASDAQ: AMD) unveiled its latest breakthroughs in high-performance computing with the launch of Radeon™ RX 9060 XT and Radeon™ AI PRO R9700 graphics cards, and Ryzen™ Threadripper™ 9000 Series processors. Engineered to address the toughest workloads in gaming, content creation, professional industries and AI development, these new processors push the boundaries of what’s possible.

    “These announcements underscore our commitment to continue delivering industry-leading innovation across our product portfolio,” said Jack Huynh, senior vice president and general manager, Computing and Graphics Group at AMD. “The Radeon RX 9060 XT and Radeon AI PRO R9700 bring the performance and AI capabilities of RDNA 4 to workstations and gamers all around the world, while our new Ryzen Threadripper 9000 Series sets the new standard for high-end desktops and professional workstations. Together, these solutions represent our vision for empowering creators, gamers, and professionals with the performance and efficiency to push boundaries and drive creativity.”

    The new Radeon RX 9060 XT GPUs are powered by the advanced AMD RDNA™ 4 architecture and deliver smooth, responsive 1440p gaming with FSR 4 ML-enhanced upscaling, and accelerated ray tracing. For those who build worlds, tell stories through pixels, or chase victory in esports, these cards offer the performance and intelligence to elevate every experience.

    AMD also announced the Radeon™ AI PRO R9700, a new GPU built on AMD RDNA™ 4 architecture with second-generation AMD AI accelerators. With 32GB of graphics memory and PCIe® Gen 5 support, it’s designed for local AI inference, model finetuning, and complex creative workloads, with scalability for multi-GPU systems.

    AMD also introduced the Ryzen Threadripper PRO 9000 WX-Series and Ryzen Threadripper 9000 Series processors — bringing record-setting core counts, massive memory bandwidth, and next-gen platform capabilities to professional and enthusiast desktops. Whether rendering cinematic VFX, simulating real-world physics, or locally fine-tuning billion-parameter AI models, these processors are built to break bottlenecks and accelerate innovation.

    AMD Powers Next-Gen Gaming Infused with AI
    Designed to unlock ultra-smooth gaming at 1440p, the Radeon RX 9060 XT is built for players who expect more. Equipped with up to 16GB of GDDR6 memory and 32 AMD RDNA 4 compute units, the GPU doubles ray tracing throughput compared to the previous generation, providing gamers with more realistic lighting, shadows, and reflections that bring virtual worlds to life.

    Second-generation AI accelerators power features like FidelityFX™ Super Resolution 4 (FSR 4), which uses machine learning to boost frame rates and image fidelity under even the most demanding rendering conditions. HYPR-RX delivers a full suite of optimizations, including Radeon Super Resolution and Fluid Motion Frames for lightning-fast response times and immersive, tear-free visuals. With support for FP8 data types and structured sparsity, the RX 9060 XT is ready for the next generation of AI-assisted gameplay, creative tools, and generative experiences.

    Model Compute
    Units
    VRAM Game
    Clock
    (GHz)
    Boost
    Clock
    1
    (GHz)
    Memory
    Interface
    Infinity
    Cache
    TBP Price
    (USD
    SEP)
    AMD Radeon™ RX 9060 XT 8GB 32 8 GB 2.53 Up to 3.13 128-bit 32 MB Starting at 150W $299
    AMD Radeon™ RX 9060 XT 16GB 32 16 GB 2.53 Up to 3.13 128-bit 32 MB Starting at 160W $349


    Pricing and Availability

    AMD Radeon RX 9060 XT graphics cards are expected to be available from leading board partners including Acer, ASRock, ASUS, Gigabyte, PowerColor, Sapphire, Vastarmor, XFX and Yeston, beginning later this year. The AMD Radeon RX 9060 XT 8GB has an SEP of $299 USD, while the AMD Radeon RX 9060 XT 16GB has an SEP of $349 USD.  

    AMD Radeon AI PRO R9700: Built for AI-Powered Workstations
    Professionals advancing AI development can rely on the AMD Radeon™ AI PRO R9700 to accelerate local inference, model finetuning, and other data-heavy workflows. With second-generation AI accelerators delivering up to 2x the throughput of the previous generation2 and full support for the ROCm™ software stack on Linux, with support for ROCm™ on Windows coming soon, the R9700 is built for high-performance AI with on-device control and flexibility.

    The Radeon AI PRO R9700 also scales effectively in multi-GPU configurations, expanding memory and compute capacity for large models and parallel tasks. This flexibility makes it ideal for advanced workstations tackling complex simulations, real-time rendering, or concurrent AI workloads.

    Model Compute
    Units
    VRAM Game
    Clock
    (GHz)
    Boost
    Clock
    1
    (GHz)
    Memory
    Interface
    Infinity
    Cache
    TBP
    AMD Radeon™ AI PRO R9700 64 32 GB 2.35 Up to 2.92 256-bit 64 MB 300W


    Pricing and Availability

    The new Radeon AI PRO R9700 is expected to be available from leading board partners starting in July 2025.
            
    Ryzen Threadripper 9000 Series Workstations Processors Redefine Performance
    The new AMD Ryzen Threadripper PRO 9000 WX-Series and Threadripper 9000 Series processors are purpose-built to handle the most demanding multi-threaded workloads and empower professionals to bring complex visions to life faster than ever.

    At the top of the stack, the Ryzen Threadripper PRO 9995WX offers 96 cores and 192 threads, ideal for visual effects, simulation, and AI model development. With up to 384MB of L3 cache and 128 lanes of PCIe® 5.0 connectivity, these processors make short work of large datasets, multi-GPU workloads, and memory-intensive applications. All PRO models come equipped with AMD PRO technologies for enterprise-grade security, manageability, and platform stability, helping to simplify IT operations.

    For enthusiasts and creators who demand workstation-grade compute in a high-end desktop (HEDT) platform, the Ryzen Threadripper 9000 Series offers up to 64 cores, enabling efficient content creation, rapid compiling, and local AI training without the need to offload to the cloud, helping to reduce cost, latency and improve privacy.

    Model Cores/Threads Base
    Frequency
    Boost
    Frequency1
    TDP Total
    Cache
    AMD Ryzen™ Threadripper™ PRO 9995WX 96 C / 192 T 2.5 GHz 5.4 GHz 350W 480 MB
    AMD Ryzen™ Threadripper™ PRO 9985WX 64 C / 128 T 3.2 GHz 5.4 GHz 350W 320 MB
    AMD Ryzen™ Threadripper™ PRO 9975WX 32 C / 64 T 4.0 GHz 5.4 GHz 350W 160 MB
    AMD Ryzen™ Threadripper™ PRO 9965WX 24 C / 48 T 4.2 GHz 5.4 GHz 350W 152 MB
    AMD Ryzen™ Threadripper™ PRO 9955WX 16 C / 32 T 4.5 GHz 5.4 GHz 350W 80 MB
    AMD Ryzen™ Threadripper™ PRO 9945WX 12 C / 24 T 4.7 GHz 5.4 GHz 350W 76 MB
    AMD Ryzen™ Threadripper™ 9980X 64 C / 128 T 3.2 GHz 5.4 GHz 350W 320 MB
    AMD Ryzen™ Threadripper™ 9970X 32 C / 64 T 4.0 GHz 5.4 GHz 350W 160 MB
    AMD Ryzen™ Threadripper™ 9960X 24 C / 48 T 4.2 GHz 5.4 GHz 350W 152 MB


    Pricing and Availability

    The AMD Ryzen Threadripper PRO 9000 WX-Series processors are expected to be available from MNCs, including Dell, HP and Lenovo, and Supermicro, as well as system integrators starting later this year. High-end desktop platforms featuring AMD Ryzen Threadripper 9000 Series processors, as well as DIY Ryzen Threadripper 9000 Series and select Ryzen Threadripper PRO 9000 WX-Series processors, will be available from retailers starting July 2025.

    AMD Continue to Deliver the Future of AI PCs
    During the keynote, Jack Huynh was joined by ASUS Co-CEO S.Y. Hsu to introduce the new ASUS Expert P Series Copilot+ PCs, the next-generation commercial PCs designed to bring AI acceleration to the enterprise. Powered by up to AMD Ryzen™ AI PRO 300 Series processors, these systems offer up-to 50+ TOPS of NPU performance, enabling fast, efficient AI-enhanced productivity in top-of-the-line business platforms. Featuring AMD PRO Technologies, Ryzen AI PRO Series processors deliver the enterprise-grade security and manageability features needed for the modern IT environment.

    “We’re proud to deepen our collaboration with AMD as we usher in a new era of AI-powered computing,” said S.Y. Hsu, Co-CEO of ASUS. “With the addition of the new Expert series — built from the ground up to revolutionize performance and efficiency for the modern workplace — to our broad AI PC portfolio, and commitment to innovation, we aim to deliver next-gen AI experiences that empower users everywhere.”

    “At Lenovo, we’re committed to delivering AI PCs that are not only powerful, but truly personal and productive. Our long-standing collaboration with AMD continues to drive this vision forward — from high-performance laptops to innovative workstations. Together, we’re enabling faster, smarter computing experiences for every kind of user. We’re especially excited about what’s coming next in our ThinkStation P8 workstation, where AMD’s latest high-performance Ryzen Threadripper PRO processors will unlock new possibilities for creators and professionals alike,” said Luca Rossi, President, Intelligent Devices Group, Lenovo.

    Supporting Resources 

    • Learn more about AMD at COMPUTEX 2025 here
    • Learn more AMD Radeon Graphics cards here   
    • Learn more about AMD FidelityFX Super Resolution here  
    • Learn more about Adrenalin Edition AI software here 
    • Learn more about HYPR-RX profiles here 
    • Learn more about Radeon AI PRO Graphics cards here
    • Learn more about AMD Ryzen Threadripper processors here 
    • Learn more about AMD PRO Technologies here 
    • Follow AMD on LinkedIn 
    • Follow AMD on X 

    About AMD 
    For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, LinkedIn and X pages. 

    ____________________________________________
    1
    Boost Clock Frequency is the maximum frequency achievable on the GPU running a bursty workload. Boost clock achievability, frequency, and sustainability will vary based on several factors, including but not limited to: thermal conditions and variation in applications and workloads. GD-151.
    2 Testing as of 3/11/2025 by AMD. Average performance of multiple runs for “How long would it take for a ball dropped from 10 meter height to hit the ground?“ and “Summarize the following in exactly five lines: [Insert Scene 1 Act 1 of Romeo and Juliet]”, drop edge cases where the model starts overthinking (more than 2k thinking tokens) to standardize response length. No speculative decode. All tests conducted on LM Studio 0.3.12 and Vulkan llama.cpp 1.18 with 100% GPU offload for AMD. NVIDIA-recommended CUDA llama.cpp used for RTX 4090 with NVIDIA-recommended 50% GPU offload (https://blogs.nvidia.com/blog/ai-decoded-lm-studio/). Models tested: DeepSeek R1 Qwen 32b Q8 and DeepSeek R1 Llama 70b Q4 K M. System specifications: AMD Ryzen™ 7700X, 64GB DDR5 RAM 4800 MT/s, Windows 11 24H2 26100.2894, AMD Radeon™ PRO W7900 48GB and W7800 48GB using Adrenalin 25.1.1 Optional vs AMD Ryzen™ 9800X3D, 32GB DDR5 RAM 6000 MT/s.,Windows 11 24H2 26100.2894 and NVIDIA GeForce RTX 4090. GeForce 572.70. Performance may vary. RPW-493.

    Contact:
    Stacy MacDiarmid
    AMD Communications
    +1 512-658-2265
    Stacy.MacDiarmid@amd.com

    Liz Stine
    AMD Investor Relations
    +1 720-652-3965
    Liz.Stine@amd.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3fb45eaf-59b5-4ca5-af70-411984cb93a1

    The MIL Network

  • MIL-OSI: ASUS and AMD Jointly Unveil Full 2025 Expert P Series Lineup at AMD Keynote

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 20, 2025 (GLOBE NEWSWIRE) —  ASUS and AMD today jointly announced the launch of the all-new ASUS Expert P-series Copilot+ PCs at Computex 2025, spotlighting its leadership in the commercial AI PC space. Powered by the latest AMD Ryzen™ AI 300 Series processors, the new lineup includes ExpertBook P3 (PM3) laptop, ExpertCenter P700 (PM700MK, PM700SK) desktops, ExpertCenter P600 (PM640, PM670) all-in-one PCs, and ExpertCenter PN54 Mini PC.

    These next-generation business devices are engineered to deliver lightning-fast AI computing, seamless productivity, and enhanced security for working professionals — all within a future-ready, sustainable design.

    “We’re proud to deepen our collaboration with AMD as we usher in a new era of AI-powered computing. At ASUS, we believe AI will fundamentally transform the PC — from system architecture to real-world applications,” said S.Y. Hsu, ASUS Co-CEO. “With the addition of the new Expert series — built from the ground up to revolutionize performance and efficiency for the modern workplace — to our broad AI PC portfolio, and commitment to innovation, we aim to deliver next-gen AI experiences that empower users everywhere.”

    ASUS ExpertBook P3 series

    Leading the charge is the ExpertBook P3 Series, the fastest ASUS ExpertBook AI PC to date. Available in 14-inch (PM3406) and 16-inch (PM3606) variants, ExpertBook P3 is powered by up to AMD Ryzen™ AI PRO 7 processors and offers up to 66 total TOPS of AI performance. It features ExpertCool thermal technology that keeps its cool whether opened or closed, a full metal chassis, and a full array of I/O ports positioned to enhance comfort and mouse movement.

    AMD Ryzen PRO processors provide business users with 18 months of planned software stability, 24 months of planned availability, and a rigorous platform validation process to ensure long-term quality.

    ASUS ExpertCenter P600 series

    The ExpertCenter P600 series represents the first Copilot+ PC all-in-one from ASUS, available in both 24-inch (PM640) and 27-inch screen (PM670) sizes. Designed for privacy and performance, P600 delivers up to 50 TOPS of dedicated NPU power for real-time content creation, and includes a retractable camera, wide-view FHD touchscreen, and business-grade durability. Microsoft Copilot is integrated for seamless collaboration.

    ASUS ExpertCenter P700 series

    Similarly, the ExpertCenter P700 series debuts as the first Copilot+ PC desktop from ASUS, offered in mini tower (PM700MK) and small-form factor (PM700SK) options. With up to 50 TOPS of AI compute power, a tool-free chassis, and MIL-STD-810H durability, it’s built to power through every business scenario.

    ASUS ExpertCenter PN54 Mini PC

    Completing the P series is the ExpertCenter PN54 Mini PC, which brings Copilot+ capabilities to a palm-sized form factor, making it the ideal solution for space-constrained environments such as kiosks, retail setups, and minimalist workstations. Despite its compact design, PN54 delivers robust performance and AI acceleration, enabling smarter workflows and seamless multitasking in any setting.

    Comprehensive AI tools and enterprise-grade security

    All ASUS ExpertBook and ExpertCenter P-series models come equipped with ASUS AI ExpertMeet and ASUS ExpertGuardian — powerful tools that are available today to enhance collaboration and ensure business-grade protection.

    AI ExpertMeet is our exclusive on-device assistant that elevates meeting experiences with AI-powered translation, meeting transcript and summary. ExpertGuardian provides all-around protection from hardware and software to firmware. P-series machines are also engineered with a commercial-grade, NIST SP 800-155-compliant BIOS, built-in TPM 2.0 and five years of ASUS BIOS and driver-updates support, offering layered security from software to firmware to hardware.

    ASUS also offers all-around and added-value support for businesses of all sizes to maximize efficiency and minimize IT-management overhead. Our flexibility, world-class experience and instant support lets you focus on growing your business to incredible heights.

    AVAILABILITY & PRICING

    The new ASUS ExpertBook P3 powered by up to the AMD Ryzen™ AI PRO 7 processors are expected to be available in Canada starting from late Q3 2025.

    The new ExpertCenter P series with the new AMD Ryzen™ AI 300 Series processors is expected to be available in Canada in early Q1 2026.

    Please contact your local ASUS representative for further information.

    NOTES TO EDITORS

    ASUS ExpertBook laptops: https://www.asus.com/ca-en/business/laptops/expertbook/

    ASUS ExpertCenter desktops: https://www.asus.com/ca-en/displays-desktops/tower-pcs/expertcenter/

    ASUS Business website: https://www.asus.com/ca-en/business/

    ASUS LinkedIn: https://www.linkedin.com/company/asus/posts/

    ASUS Business LinkedIn: https://www.linkedin.com/showcase/asus-business/

    ASUS Pressroom: http://press.asus.com

    ASUS Canada Facebook: https://www.facebook.com/asuscanada/

    ASUS Canada Instagram: https://www.instagram.com/asus_ca

    ASUS Canada YouTube: https://ca.asus.click/youtube

    ASUS Global X (Twitter): https://www.x.com/asus

    About ASUS

    ASUS is a global technology leader that provides the world’s most innovative and intuitive devices, components, and solutions to deliver incredible experiences that enhance the lives of people everywhere. With its team of 5,000 in-house R&D experts, the company is world-renowned for continuously reimagining today’s technologies. Consistently ranked as one of Fortune’s World’s Most Admired Companies, ASUS is also committed to sustaining an incredible future. The goal is to create a net zero enterprise that helps drive the shift towards a circular economy, with a responsible supply chain creating shared value for every one of us.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f3f4814-2879-465c-823a-62d00d90bcc9

    The MIL Network

  • MIL-OSI New Zealand: Is taking photos on a plane allowed?

    Source:

    Reviewed May 2025

    Can passengers take photos and videos on a plane? That’s a good question when most of us have easy access to our phones and inflight Wi-Fi being increasingly offered to passengers. Another public setting where this question might arise is recording of patients and staff in hospitals. Read our AskUs answer to the question, ‘Can I record someone without telling them?

    An important consideration is whether the recording is taking place in a public or private space. Generally, the Privacy Act says taking photos or recordings in public places is allowed. It also depends on who is taking the photo or making the recording, and whether the photos could be categorised as highly offensive.

    Businesses

    If you’re an agency (business or organisation) or if you’re taking the photo or making the recording on behalf of a business or agency, you need to consider the general obligations around collection of personal information (see principles 1-4 of the Privacy Act).

    Individuals

    If you are an individual and you’re taking the photo or making the recording in a personal capacity, it won’t usually be an issue under the Privacy Act. Most passengers on planes and visitors to hospitals will fall into this category, and if they were to make a recording on a flight, it will be in their personal capacity. But there are two things that a passenger should keep in mind.

    1. It is always good practice to seek permission when an individual is the subject of your photo or recording. This is courteous and respectful of the privacy of others
    2. The use of some public facilities, for instance, parks or swimming pools, will be subject to conditions that may impose limits on what you can film or record. For example, many swimming pools have clearly stated policies that photos and recordings are not permitted. Similar restrictions could apply to a passenger planeor a hospital.

    While a commercial space like a passenger plane is essentially a public space, the airline may impose rules around whether a passenger can film or record. It can set this out in its passenger terms and conditions and in its passenger education.

    However, the personal capacity exemption does not apply where the collection, use or disclosure could be “highly offensive”. This means there are circumstances where it generally isn’t appropriate for individuals to take photos or make recordings, even when they’re in a public space.

    Emergencies

    Is it acceptable for other passengers to film a mid-air medical emergency involving another passenger and post it online? We don’t think so. A medical situation would likely involve sensitive information about an individual who is vulnerable, and so this could be considered highly offensive.

    In our view, an incident that may be embarrassing to an airline does not mean it is highly offensive. The case involving United Airlines and David Dao on a US domestic flight is a famous example. In this case, video taken by other passengers of Mr Dao being forcibly removed from the flight after he refused to give up his seat was used as key evidence.

    What happens when people disagree? 

    Individual passengers and air crew may disagree about whether photos or recordings are acceptable. Ultimately, all parties should exercise restraint, consideration and common sense on a flight, as they should in other walks of life. If you wouldn’t want someone to do it to you, don’t do it to others.

    , , , ,

    Back

    MIL OSI New Zealand News

  • MIL-OSI Asia-Pac: LCQ14: Promoting research and development of Hong Kong

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Tang Fei and a written reply by the Secretary for Education, Dr Choi Yuk-lin, in the Legislative Council today (May 21):
     
    Question:
     
    According to a research publication released by the Legislative Council Secretariat last month, the number of research and development (R&D) personnel per million population in Hong Kong is significantly lower than that of neighbouring regions, and the proportion of local research postgraduates is continuously declining. There are views that research postgraduates also face multiple challenges in employment and the transformation of research outcomes. If such issues are not addressed in a timely manner, Hong Kong’s future innovation development and economic restructuring will be affected. In this connection, will the Government inform this Council:
     
    (1) given that according to the aforesaid research publication, Hong Kong currently has only 4 809 researchers per million population, lagging far behind Singapore and South Korea, whether the Government has drawn up specific measures to attract and nurture local R&D talent, particularly in STEM fields; if so, of the details; if not, the reasons for that; whether it has set specific targets and timelines to increase the number of local R&D personnel in the next three years;
     
    (2) given that according to the aforesaid research publication, in the 2022-2023 academic year, only 63 per cent of research postgraduates from universities funded by the University Grants Committee secured full-time employment within six months after graduation, and only 11.6 per cent of graduates could manage to find jobs directly related to their studies, whether the Government has tailor-made support measures to address the employment challenges faced by research postgraduates, so as to help them maximise their potential and meet the needs of the local R&D industry; if so, of the details; if not, the reasons for that; and
     
    (3) as there are views pointing out that while Hong Kong’s R&D outcomes reach international standards, they fall short in terms commercialisation and industrialisation, whether the Government will strengthen efforts to promote industry-academia-research collaboration to enhance the industrialisation of R&D outcomes and foster the development of an innovative economy; if so, of the details; if not, the reasons for that?
     
    Reply:
     
    President,
     
    The Government has all along been dedicated to promoting the development of innovation and technology (I&T), with a view to driving economic restructuring and more diversified development. Apart from the nation’s clear support for Hong Kong’s development into an international I&T hub under the 14th Five-Year Plan, the recently promulgated 2024-2035 master plan on building China into a leading country in education also proposed to establish an integrated co-ordinating mechanism for education, technology and talent, strengthening the supportive role of education for science and talent, closely tying in with the development of technological innovative centres in the Guangdong-Hong Kong-Macao Greater Bay Area and the development of a highland for high-level calibre and platform for attracting talent, and enhancing the overall efficacy of the innovation system.
     
    The replies from the Education Bureau and the Innovation, Technology and Industry Bureau to the Hon Tang Fei’s question are as follows:
     
    (1) and (2) The Government has been expanding the local research and I&T talent pool through a multi-pronged approach. On the front of nurturing talent, the Government guides the University Grants Committee (UGC)-funded universities to align their planning with the nation’s strategy of invigorating China through science and education, and support the goal of developing Hong Kong into an international I&T hub, including setting the key performance indicators in the 2022 Policy Address with 35 per cent of the students pursuing UGC-funded programmes to study in STEAM (science, technology, engineering, arts and mathematics) subjects. In addition, publicly-funded research postgraduate (RPg) places have been gradually increased from 5 595 in the 2022/23 academic year to 7 200 places in the 2024/25 academic year. Together with the gradual uplift of the over-enrolment ceiling from 70 per cent in the 2021/22 academic year to 100 per cent, institutions could flexibly enrol 14 400 RPg students at most, which is an increase of more than half, to constantly expand the I&T and research talents of Hong Kong.
     
    Additionally, the STEM Internship Scheme under the Innovation and Technology Commission (ITC) subsidises undergraduates and postgraduates taking full-time STEM-related programmes to enrol in short-term internships, so as to foster their interest early in pursuing careers in I&T after graduation. The Research Talent Hub under the ITC also provides funding support for eligible companies or organisations to engage university graduates to conduct research and development (R&D) work.
     
    For attracting talent front, the InnoHK Research Clusters has successfully attracted R&D talents from all over the world to Hong Kong, with over 2 500 local, overseas and Mainland researchers involved, and has provided training for over 1 200 PhD students. The ITC will launch the Frontier Technology Research Support Scheme, with a view to attracting international top-notch talents to conduct basic research in frontier technologies in Hong Kong and nurture local researchers.
     
    According to the report “Hong Kong Innovation Activities Statistics 2023” released by the Census and Statistics Department in December 2024, the number of R&D personnel has reached 43 403 in 2023, which has increased steadily over the years.
     
    (3) With an aim to enhance the I&T ecosystem and Hong Kong’s competitiveness on the I&T front, the Government has been promoting collaboration among the industry, academic and research sectors through various measures, and adopting a multi-pronged approach to support commercialisation of R&D outcomes of local universities. For example, the $10 billion Research, Academic and Industry Sectors One-plus Scheme under the Innovation and Technology Fund (ITF) funds, on a matching basis, research teams from universities with good potential to become successful start-ups to transform and commercialise their R&D outcomes, while industry sponsorship is a mandatory requirement. Furthermore, the ITF will continue to provide annual funding to the Technology Transfer Office of each of the eight UGC-funded universities, thereby supporting the development of innovative ideas and R&D outcomes into new products or services. The R&D centres set up by the Government have also been taking forward industry-driven applied R&D work that suits market needs and transferring technologies to the industries through contract researches, licensing arrangements, etc to commercialise their R&D outcomes. Meanwhile, the Government facilitated the establishment of the Hong Kong New Industrialisation Development Alliance. Pooling together talent and resources from various fields, the Alliance aims to serve as a platform for collaboration among the Government, industry, academia, research and investment sectors. With a view to promoting co-operation among enterprises and organisations, we believe that the Alliance will also be conducive to the promotion of transformation and commercialisation of R&D outcomes.

    MIL OSI Asia Pacific News

  • MIL-OSI China: China’s lesser-known destinations draw more inbound tourists

    Source: People’s Republic of China – State Council News

    .

    Basking in the sunshine, John Jammet and his wife sat in the courtyard of a traditional house in the historic Pingyao County of north China’s Shanxi Province, with coffee in hand. Their trip seemingly offered them a glimpse into the lives of Chinese back in the day.

    “Last night we traveled in the main streets and the lanterns were very beautiful,” said the man from France. “What attracted me most were a lot of young girls and boys wearing traditional clothes. It showed that they love their culture and history.”

    Fascinated by the video game “Black Myth: Wukong,” Jammet became interested in the culture behind it, and thus decided to come to China and have a look. The couple carefully planned their trip, with it including China’s capital Beijing, Pingyao, the ancient capital Xi’an in northwest China and the picturesque Guangxi Zhuang Autonomous Region in south China, reflecting their quest to see “both modern cities and traditional culture.”

    “In the Western world, I think there is misunderstanding about China, because our countries are different,” he explained. “It is important to see with our own eyes what’s the truth about China. For me, China is safe and clean, people are kind and helpful.”

    At the mention of China, images that immediately jump into the minds of many foreign tourists are normally the Great Wall, giant pandas and the many skyscrapers in the bustling metropolis of Shanghai in east China.

    Thanks partly to China’s eased visa policies, an increasing number of foreign tourists are now also turning their attention to lesser-known destinations to delve deeper into Chinese history and culture, just like Jammet and his wife.

    Foreign tourists learn to make traditional wheaten food at a homestay in Pingyao, north China’s Shanxi Province, May 15, 2025. (Photo by Qiao Yan/Xinhua)

    OFF THE BEATEN TRACK

    As of the beginning of May, China has granted unilateral visa-free entry to people from 38 countries, and has extended its visa-free transit period to 240 hours for travelers from 54 countries.

    In 2024, China recorded 64.88 million border crossings by foreign nationals, an 82.9-percent increase year on year. In the first quarter of 2025, this number stood at 17.44 million, up 33.4 percent compared to the same period in 2024.

    During the five-day May Day holiday, the most recent vacation in China for family outings and tourism, statistics regarding air ticket bookings on Chinese travel services platform Qunar showed that in addition to the megacities of Beijing, Shanghai and Guangzhou, the lower-tier cities of Chengdu, Xiamen, Nanjing, Chongqing and south China’s Haikou were also among the top-ranking destinations for non-Chinese tourists. In addition, hotel bookings made by foreign passport holders in Zhuhai, east China’s Qingdao and central China’s Wuhan grew by 70, 60 and 50 percent respectively.

    Hotels, restaurants and even hairdressers in residential areas not very close to traditional attractions in Beijing are beginning to greet foreign tourists, while small cities and counties are also seeing more inbound visitors.

    Zachary Iziah Smith, an American travel blogger, poses for a photo at Mogao Grottoes in Dunhuang, northwest China’s Gansu Province, April 11, 2025. (Xinhua)

    Kang Mobei is general manager of a shop affiliated to the Gansu Provincial Museum, which sells creative cultural products inspired by items in the museum, like a green fluffy toy based on the iconic copper galloping horse.

    Notably, Gansu Province in northwest China is home to many historical sites, including the Mogao Grottoes UNESCO World Heritage Site. During the May Day holiday, she found more foreign tourists in her shop, many of whom came from countries like Australia, Indonesia, Thailand and Japan.

    “Some of them had already been to the museum, and a few even showed me pictures they found on social media platforms like ‘rednote’ when asking for products,” said Kang, who observed that some customers had fluffy toys from other creative cultural product shops dangling from their bags.

    With overseas customers in mind, the store installed POS machines for international bank cards and carried out language training for their staff.

    A foreign visitor (L) learns how to make matcha beverage at a tea industrial park in Jiangkou County, southwest China’s Guizhou Province, April 14, 2025. (Xinhua/Yang Wenbin)

    EASIER, FASTER, BETTER KNOWN

    To meet this increasing demand from foreign customers for niche tourist destinations, Chen Wanni and Chen Min last year founded China Explorer Tour (CET), a tour operating company specializing in authentic food, adventure and cultural-immersion themed retreats and experiences across China.

    “It was more successful than we had expected,” said Chen Wanni, admitting that she was prepared for a loss in the first year, but surprisingly they managed to break even. The referral rate of the tourist routes reached 60 percent, with many customers recommending to their friends to come back, while quite a few have come more than once.

    “Tourism is not only an industry, but also a window for overseas travelers to learn about China,” she said.

    Chen Min informed Xinhua that more and more overseas tourists are expressing interest in China’s lesser-known destinations, in addition to the traditional attractions, representing the maturity of the nation’s tourism industry in recent years.

    Tom Peacock-Nazil from Britain last September booked a 10-day tour with CET, and visited not only Beijing and Xi’an but also southwest China’s Guizhou Province, where he saw both the stunning beauty of nature and various ethnic cultures.

    “I realized I had massively underestimated China,” he said. “I think I’ve fallen in love with China. That’s mainly because we’ve been off the beaten track. I’m dying to come back and I’ve been learning about other provinces. I’ve got plans already.”

    Tom Peacock-Nazil (2nd R) and other tourists pose for a photo in Leishan County, southwest China’s Guizhou Province, in September 2024. (China Explorer Tour/Handout via Xinhua)

    Sun Weili, a regional manager with the Chinese travel platform Trip.com Group, noted that the surge in foreign tourists for in-depth tours in China is a result of combined efforts. “Along with eased visa policies, they can also feel the convenience in terms of payment and traffic, as well as more diversified tours,” he said.

    For instance, a 16-day luxury train tour from Chengdu to Xinjiang Uygur Autonomous Region has attracted overseas visitors, which promises to take them to an in-depth journey to the northwestern region. So far tickets for all the 10 trips between May and October have been sold out, with 70 percent of the customers inbound tourists.

    Meanwhile, thanks to movies, video games and social media, Chinese culture is better promoted across the world, luring more curious overseas visitors to have a closer look. “We are more open and confident,” Sun said.

    Zhang Jun, who is with a travel agency in Datong in Shanxi, has worked as a tour guide for 18 years. He has noted the huge development of inter-city transportation which has made self-guided tours possible. “For instance, we used to sit in overnight trains and transfer to reach Pingyao from Beijing. But now the journey takes less than four hours.”

    John Jammet this time traveled in China for 15 days, which he found not enough to explore the country. “China is big,” he said. “I might need to spend a month here.”

    MIL OSI China News

  • MIL-Evening Report: ER Report: A Roundup of Significant Articles on EveningReport.nz for May 21, 2025

    ER Report: Here is a summary of significant articles published on EveningReport.nz on May 21, 2025.

    Australian para sport has issues everywhere – here’s what must be fixed ahead of the Brisbane Paralympics
    Source: The Conversation (Au and NZ) – By Katherine Raw, Lecturer, Sport Management, Swinburne University of Technology Bratislav Kostic/Shutterstock Australia’s underwhelming performance at the 2024 Paris Paralympics has raised serious questions about how well our adaptive sport system is working. The Paris games returned our lowest medal tally since 1988, from our smallest team since

    What’s the difference between skim milk and light milk?
    Source: The Conversation (Au and NZ) – By Margaret Murray, Senior Lecturer, Nutrition, Swinburne University of Technology bodnar.photo/Shutterstock If you’re browsing the supermarket fridge for reduced-fat milk, it’s easy to be confused by the many different types. You can find options labelled skim, skimmed, skinny, no fat, extra light, lite, light, low fat, reduced fat,

    AI is now used for audio description. But it should be accurate and actually useful for people with low vision
    Source: The Conversation (Au and NZ) – By Kathryn Locke, Associate Researcher in Digital Disability, Centre for Culture and Technology, Curtin University Chansom Pantip/Shutterstock Since the recent explosion of widely available generative artificial intelligence (AI), it now seems that a new AI tool emerges every week. With varying success, AI offers solutions for productivity, creativity,

    NZ Budget 2025: science investment must increase as a proportion of GDP for NZ to innovate and compete
    Source: The Conversation (Au and NZ) – By Nicola Gaston, Director of the MacDiarmid Institute for Advanced Materials and Nanotechnology, University of Auckland, Waipapa Taumata Rau Shutterstock/Olivier Le Queinec A lack of strategy and research funding – by both the current and previous governments – has been well documented, most comprehensively in the first report

    Starvation of Gaza – a distressing continuation of a decades-old plan
    SPECIAL REPORT: By Jeremy Rose Reading an NBC News report a couple of days ago about a Trump administration plan to relocate 1 million Gazans to Libya reminded me of a conversation between the legendary Warsaw Ghetto leader Marek Edelman and fellow fighter and survivor Simcha Rotem that took place more than quarter of a

    Spotify continues to change music. What’s next – will AI musicians replace music made by humans?
    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra Spotify was started, according to its official claims, because its founders “love music and piracy was killing it”. In Mood Machine, music journalist Liz Pelly argues this is rewriting history. In fact, she

    Feats of the human body behind Tom Cruise’s stunts in Mission: Impossible movies
    Source: The Conversation (Au and NZ) – By Dan Baumgardt, Senior Lecturer, School of Physiology, Pharmacology and Neuroscience, University of Bristol He’s leapt from cliffs, clung to planes mid-takeoff and held his breath underwater for as long as professional freedivers. Now, at 62, Tom Cruise returns as Ethan Hunt for one final mission – and

    After another call with Putin, it looks like Trump has abandoned efforts to mediate peace in Ukraine
    Source: The Conversation (Au and NZ) – By Stefan Wolff, Professor of International Security, University of Birmingham After a two-hour phone call with Russian leader Vladimir Putin on May 19, US president Donald Trump took to social media to declare that Russia and Ukraine will “immediately start negotiations” towards a ceasefire and an end to

    The public service has a much smaller gender pay gap than the private sector. It’s a big achievement
    Source: The Conversation (Au and NZ) – By Leonora Risse, Associate Professor in Economics, University of Canberra NDAB Creativity/Shutterstock After two years of publishing the gender pay gaps of Australia’s private-sector companies, the Workplace Gender Equality Agency has released public-sector employer data for the first time. The report shows a stark contrast between the private

    For making stars, it’s not just how much gas a galaxy has that matters – it’s where it’s hiding
    Source: The Conversation (Au and NZ) – By Barbara Catinella, Professor and Senior Principal Research Fellow, International Centre for Radio Astronomy Research (ICRAR), The University of Western Australia One of the galaxies mapped by WALLABY: the red shade shows the atomic hydrogen gas content of the galaxy, overlaid on an optical image showing the stars.

    The Queensland melioidosis outbreak is still growing. What’s keeping this deadly mud bug active?
    Source: The Conversation (Au and NZ) – By Thomas Jeffries, Senior Lecturer in Microbiology, Western Sydney University ap-studio/Shutterstock The outbreak of the deadly “mud bug” melioidosis in north Queensland has not yet abated since it began at the start of this year. So far there have been 221 cases and 31 deaths from the disease

    ‘Outdated and irrelevant’: what do young Australians think of their schooling?
    Source: The Conversation (Au and NZ) – By Jun Eric Fu, Senior Research Fellow, Youth Research Collective, The University of Melbourne LBeddoe/Shutterstock Australia’s school system – and whether it is doing its job – is often under the microscope from politicians, experts and parents. The most recent NAPLAN results in 2024 triggered a wave of

    Culture at the core: examining journalism values in the Pacific
    ANALYSIS: By Birte Leonhardt, Folker Hanusch and Shailendra B. Singh The role of journalism in society is shaped not only by professional norms but also by deeply held cultural values. This is particularly evident in the Pacific Islands region, where journalists operate in media environments that are often small, tight-knit and embedded within traditional communities.

    The band is breaking up: has the Coalition stopped making sense?
    Source: The Conversation (Au and NZ) – By Joshua Black, Visitor, School of History, Australian National University I remember seeing footage, several years ago, of a jubilant Malcolm Turnbull, then prime minister and Liberal leader, speaking in Tamworth to loyal members of the National Party. These were the rank and file who had spent weeks

    Health chief ‘conductor of an orchestra who’s never played an instrument’
    ANALYSIS: By Ian Powell In February 2025, Dr Diana Sarfati resigned, not unexpectedly, as Director-General of Health after only two years into her five-year term. As a medical specialist, and in her role as developing the successful cancer control agency, she had extensive experience in New Zealand’s health system. However, she did not conform to

    Victorian budget has cash to splash on health, transport but new levies, job cuts, rising debt signal pain ahead
    Source: The Conversation (Au and NZ) – By David Hayward, Emeritus Professor of Public Policy, RMIT University There was not a lot of cheer in the media reporting ahead of the 2025/6 Victorian budget released on Wednesday. Debt and deficits dominated the coverage. All eyes turned to new treasurer, Jaclyn Symes, to see if in

    RBA cuts interest rates, ready to respond again if the economy weakens further
    Source: The Conversation (Au and NZ) – By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra Reserve Bank Governor Michele Bullock speaks at a forum during the World Bank/IMF meetings in Washington in April. Jose Luis Magana/AP The Reserve Bank of Australia cut the official interest rate for the

    The Coalition is on a break, but the Nationals risk finding their former partner doesn’t want them back
    Source: The Conversation (Au and NZ) – By Linda Botterill, Visiting Fellow, Crawford School of Public Policy, Australian National University In the weeks since the federal election, there’s been much speculation about the future of the Coalition agreement. In their soul-searching, it seemed possible the Liberals might pull the pin, given the degree of their

    Israel slammed over ‘cynical’ sidestep of global rulings on Gazan humanitarian aid
    Asia Pacific Report Israel has been accused of “manipulation” and “cynical” circumvention of global decisions calling for unrestricted humanitarian aid access to the besieged Gaza enclave. “In a clear act of defiance against international humanitarian obligations, the occupying state has permitted only nine aid trucks to enter the Gaza Strip — covering both the devastated

    Keith Rankin Analysis – The Aratere and the New Zealand Main Trunk Line
    Analysis by Keith Rankin. Government-owned Kiwirail is supposed to be presiding over the New Zealand Main Trunk (Railway) Line, from Auckland to Invercargill. As such it runs a ferry service (The Interislander) between New Zealand’s North and South Islands. We are being told by Kiwirail (and see today’s report on Radio NZ) that the only

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Australia: Family trust distributions tax – what you need to know

    Source: New places to play in Gungahlin

    When considering trustee resolutions in the lead up to 30 June, it’s important for trustees of family trusts who have made a Family Trust Election (FTE), or entities with an Interposed Entity Election (IEE) to:

    • review their FTEs and IEEs
    • understand who is in their family group.

    This is critical to help lower the risk of any FTDT liabilities arising.

    Once a valid FTE or IEE is made, it’s important to be mindful of who the specified individual is (for each election). This is because there is a strict legal definition of family group, and it’s based on who the members of the ‘specified individual’s’ family group are. Often in private groups, there may be multiple family trusts with different specified individuals (which means there will be differences in who is in the ‘family groups’). There may have also been expansion of the business with new entities or changes in family members (e.g. if there was a divorce). While the election is in effect, FTDT will apply if any distributions are made outside the family group. FTDT is a 47% tax, payable by a trustee, director, or partner.

    To ensure you don’t trigger FTDT liabilities, before making distributions, trustees should:

    • maintain strong governance and record-keeping practices
    • understand what FTE or IEE elections an entity or group has in place
    • identify the members of the specified individual’s family group.

    Trustees should review this information on an annual basis and keep these elections front of mind when administering their tax affairs.

    The Commissioner has no discretion to ignore the application of FTDT, cannot limit the period FTDT applies and has no power to extend the time to revoke or vary elections.

    If you’ve not made an FTE or IEE before, or are considering making one at the end of the financial year, it’s important to consider both the current and future impacts of making the election. While the concessions from making elections can be advantageous, there can be future limitations, constraints and potentially significant financial impacts for the private group for generations to come. 

    We’re seeing an increase in FTDT issues due to inadequate record keeping, succession planning, intergenerational expansion of businesses and evolving private groups. We encourage trustees and their advisers to review now.

    If you’re unsure about any matters related to FTE or IEEs you should speak to your registered tax agent.

    Resources

    Web content:

    • Family trusts concessions – our web content covers FTEs, IEEs, the benefits of family trusts and FTDT.
    • Trusts – favourite or bookmark our comprehensive Trusts web content so you can access it whenever you need it.

    Keep up to date

    We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.

    Read more articles in our online Business bulletins newsroom.

    Subscribe to our free:

    • fortnightly Business bulletins email newsletterExternal Link
    • email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the ‘Business and organisations’ category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.

    MIL OSI News

  • MIL-OSI USA: Cramer, Duckworth Introduce Bill to Help Families Afford Medically Necessary Diapers

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)
    WASHINGTON, D.C. – For babies and toddlers, diapers are essential for their health and well-being. However, nearly half of U.S. families with young children struggle to provide enough diapers to keep them clean, dry, and healthy, according to a report from the National Diaper Bank Network. 
    To assist low-income and middle-class families in addressing diaper needs, U.S. Senators Kevin Cramer (R-ND) and Tammy Duckworth (D-IL) introduced the bipartisan End Diaper Need Act. The legislation would make diapers qualified medical expenses for those who rely on them, allowing families to purchase them using their Health Savings Accounts (HSAs) or Health Reimbursement Arrangements (HRAs).
    Further, it provides $200 million per year for fiscal years 2022 to 2025 for the Social Services Block Grant Program, to be used to provide diapers and diapering supplies for infants, toddlers, medically complex children, low-income adults, and adults with disabilities.
    “Diapers are a basic necessity for all babies and toddlers, but many families struggle to afford enough diapers for their children,” said Cramer. “Our bipartisan bill will increase access to diapers for children in need and deliver a commonsense tax policy update to ensure families can use their health savings in a way that works for them.”  
    “No parent should have to choose between paying the bills and buying something as basic as diapers that are essential to the health and well-being of their children,” said Duckworth. “After working for years to secure major funding that is supporting our nation’s diaper banks, I’m proud to have Senators Cramer and Welch on my side reintroducing this bipartisan bill so we can help end diaper need for all families.”
    The End Diaper Need Act is endorsed by National Diaper Bank Network, Aeroflow, Center for Baby and Adult Hygiene Products, Center for Law and Social Policy, Child Welfare League of America, Coalition for Human Needs, First Focus for Children, HDI Wholesale, HIPPY US, JSL, Kimberly-Clark, MomsRising, National Women’s Law Center Action Fund and ZERO TO THREE.
    Click here for bill text.

    MIL OSI USA News

  • MIL-OSI New Zealand: Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill

    Source:

    Media Release

    Organisation:   Finance and Expenditure Committee

    For release:     21 May 2025

    Have your say on Financial Service Providers (Registration and Dispute Resolution) Amendment Bill

    The Finance and Expenditure Committee is calling for submissions on the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

    This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Credit Contracts and Consumer Finance Amendment Bill and the Financial Markets Conduct Amendment Bill.

    Please take care to upload your submission on the relevant bill. 

    Financial dispute resolution is a free way for consumers to resolve disputes with their bank, insurer, KiwiSaver provider, or other financial service provider. This bill would make two changes to financial dispute resolution. The changes aim to ensure:

    • improved oversight of approved dispute resolution scheme performance, by requiring the responsible Minister to decide how the schemes must undertake their independent reviews
    • effective and impartial governance of the schemes’ boards, by providing for a regulation-making power that can be used to set skills, experience, and independence requirements of board members.

    Tell the Finance and Expenditure Committee what you think:

    Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

    For more details about the bill:

    ENDS

    For media enquiries contact:

    Finance and Expenditure Committee Staff

    fe@parliament.govt.nz

    MIL OSI

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Have your say on Financial Markets Conduct Amendment Bill

    Source:

    Media Release

    Organisation:   Finance and Expenditure Committee

    For release:     21 May 2025

    Have your say on Financial Markets Conduct Amendment Bill

    The Finance and Expenditure Committee is calling for submissions on the Financial Markets Conduct Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

    This bill is one of three that the Finance and Expenditure Committee is considering related to financial services.  The other two bills are the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill and the Credit Contracts and Consumer Finance Amendment Bill.

    Please take care to upload your submission on the relevant bill.

    The bill would:

    • change minimum requirements for fair conduct programmes to allow for more flexibility and to reduce unnecessary prescription and compliance costs
    • require the Financial Markets Authority (FMA) to issue a single licence covering different classes of market services
    • change provisions that require firms holding a licence under the Financial Markets Conduct Act, or authorised bodies, to obtain regulatory approval from the FMA before certain changes in firms take effect
    • introduce on-site inspection powers for the FMA to, without notice, enter and remain at a place of business of a financial markets participant for compliance monitoring purpose
    • make a number of other technical amendments.

    Tell the Finance and Expenditure Committee what you think:

    Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

    For more details about the bill:

    ENDS

    For media enquiries contact:

    Finance and Expenditure Committee Staff

    fe@parliament.govt.nz

    MIL OSI

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Have your say on Credit Contracts and Consumer Finance Amendment Bill

    Source:

    Media Release

    Organisation:   Finance and Expenditure Committee

    For release:     21 May 2025

    Have your say on Credit Contracts and Consumer Finance Amendment Bill

    The Finance and Expenditure Committee is calling for submissions on the Credit Contracts and Consumer Finance Amendment Bill. The closing date for submissions is 11.59pm on Monday, 23 June 2025.

    This bill is one of three that the Finance and Expenditure Committee is considering related to financial services. The other two bills are the Financial Service Providers (Registration and Dispute Resolution) Amendment Bill and the Financial Markets Conduct Amendment Bill.

    Please take care to upload your submission on the relevant bill.

    This bill would:

    • transfer regulatory responsibility for credit contracts and consumer finance from the Commerce Commission to the Financial Markets Authority
    • make certain alignments between the Credit Contracts and Consumer Finance Act 2003 and other financial markets legislation to support a consistent and proportionate regulatory system, including transitioning lenders from a certification to a licensing regime
    • remove features of the Credit Contracts and Consumer Finance Act 2003 (such as the due diligence duty for directors and senior managers) that are unnecessary because of, or do not fit as well with, the new regulatory approach (including the adoption of a licensing model)
    • limit the situations in which a creditor’s failure to make required initial or variation disclosure can mean that the debtor is not liable for the costs of borrowing.

    Tell the Finance and Expenditure Committee what you think:

    Make a submission on the bill by 11.59pm on Monday, 23 June 2025.

    For more details about the bill:

    ENDS

    For media enquiries contact:

    Finance and Expenditure Committee Staff

    fe@parliament.govt.nz

    MIL OSI

    MIL OSI New Zealand News

  • MIL-OSI Russia: The opening of the 2nd Lhasa Import Expo 2025 will mark a new chapter in international trade and economic cooperation

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    On May 16, under the theme of “Opening Up a New Lhasa, Opening Up New Opportunities for Everyone”, the 2nd Lhasa Import Expo 2025 opened in Pavilion 2 of the Xizang Exhibition Center. More than 250 companies and nearly 600 representatives from 31 countries and regions including Europe, Africa, South America, South Asia, Central Asia, ASEAN, Japan, the Republic of Korea, as well as Xiangang, Macao and Taiwan are participating in the event. As one of the key events celebrating the 60th anniversary of the founding of the Xizang Autonomous Region, the scale of the expo has been significantly expanded compared with the first session. Its aim is to build an international platform for economic cooperation and promote the deepening integration of Lhasa into foreign trade and the global supply chain.

    MIL OSI Russia News

  • MIL-OSI Russia: World Gas Conference to be held in Beijing for the first time

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, May 21 (Xinhua) — The 29th World Gas Conference (WGC2025) opened in Beijing on Tuesday. In its nearly 100-year history, the event is being held in China for the first time.

    The conference, held under the motto “Energizing a Sustainable Future,” brought together over 3,000 participants from 70 countries and regions of the world, ready to engage in an in-depth exchange of views and reach consensus on issues related to the global energy transition, trends in the development of the gas sector, and the search for a path to a sustainable future.

    The conference was jointly organised by the International Gas Union (IGU), Beijing Gas and Beijing Capital Group Exhibitions.

    The forums cover various topics: development of the LNG segment, integration of natural gas and renewable energy sources, energy security, digital transformation, etc. Over 400 participants – industry leaders and experts from the gas sector – will exchange opinions on development trends and technological innovations.

    The exhibition is expected to attract over 30,000 visitors. Leading global oil and gas companies, gas infrastructure and city gas supply firms will showcase achievements in the development of traditional gas sector links, as well as technological breakthroughs.

    As one of the flagship events under the auspices of the IGU, WGC2025 will run until May 23 at the China National Convention Center in Beijing. -0-

    MIL OSI Russia News

  • MIL-OSI China: Britain suspends trade negotiations with Israel over Gaza aid blockade

    Source: People’s Republic of China – State Council News

    British Foreign Secretary David Lammy announced on Tuesday that Britain has suspended trade negotiations with Israel over its Gaza blockade. Lammy also said the Israeli ambassador had been summoned.

    Lammy said in a statement in the House of Commons, lower house of the British parliament, that Israel’s blockade of Gaza is “morally wrong, unjustifiable, and it needs to stop.”

    Lammy said he thinks all lawmakers “should be able to utterly condemn the Israeli government’s denial of food to hungry children.”

    British Prime Minister Keir Starmer also condemned the deepening humanitarian crisis in Gaza on Tuesday, describing the ongoing civilian suffering as “utterly intolerable,” and called for an immediate ceasefire.

    Addressing the parliament, Starmer said, “The level of suffering, innocent children being bombed again, is utterly intolerable,” and went on to say Britain and their French and Canadian allies are “horrified by the escalation from Israel.” He said an “immediate ceasefire” remains “the only way to free the hostages.”

    He also reaffirmed Britain’s opposition to Israeli settlement expansion in the West Bank and called for a dramatic scale-up in humanitarian aid to Gaza.

    “The recent announcement that Israel will allow a basic quantity of food into Gaza is totally and utterly inadequate,” Starmer said. “We must coordinate our response, because this war has gone on for far too long. We cannot allow the people of Gaza to starve.”

    Britain, France and Canada said on Monday in a joint statement that “if Israel does not cease the renewed military offensive and lift its restrictions on humanitarian aid,” they will take further concrete actions.

    Israel halted the entry of goods and supplies into Gaza on March 2, following the expiration of the first phase of a January ceasefire agreement with Hamas. It resumed attacks on Gaza on March 18, which have so far killed more than 3,300 people and injured over 9,350, according to the Gaza-based health authorities.

    On Sunday, Israeli Prime Minister Benjamin Netanyahu said Israel would allow the entry of a “minimal and basic” quantity of aid into Gaza to prevent “images of mass starvation.” Later, five UN aid trucks entered Gaza through Israel’s Kerem Shalom border crossing on Monday after undergoing security inspections. 

    MIL OSI China News

  • MIL-OSI: O2Gold Provides Update on Quebec Aur Transaction

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

    TORONTO, May 20, 2025 (GLOBE NEWSWIRE) — O2Gold Inc. (NEX:OTGO.H) (“O2Gold” or the “Company”) is pleased to provide an additional update on its pending acquisition of a gold mining exploration property in Quebec through the purchase of all of the issued and outstanding shares of Quebec Aur Ltd. (the “Target”) pursuant to a share exchange agreement entered into by the Company with the Target and its shareholders dated April 15, 2024, as amended November 14, 2024 (the “Acquisition”).

    The Company received an extension from the TSX Venture Exchange to close its previously announced non-brokered private placement financing of 14 million units and 16 million flow-through common shares for aggregate gross proceeds to the Company of $1.5 million (the “Offering”). The Company now has until June 23, 2025, to close the Offering, which, for clarity, shall not be for less than aggregate gross proceeds of $1.5 million.

    The parties are working diligently to complete the remaining legal formalities in relation to the Acquisition, which is now expected to close in mid-2025, subject to the satisfaction or waiver of certain conditions. The Acquisition is more fully described in the Company’s press releases dated April 15, 2024, April 23, 2024, April 24, 2024, May 30, 2024, and August 23, 2024, as well as the Company’s management information circular (the “Circular”) which was mailed to shareholders of record as of August 26, 2024. The Offering is more fully described in the Company’s press release dated April 8, 2025. The press releases and Circular are available under O2Gold’s profile on SEDAR+ at www.sedarplus.ca.

    About O2Gold

    O2Gold is a mineral exploration company.

    For additional information, please contact:

    Scott Moore, Chief Executive Officer
    Phone: (416) 861-1685
    Email: smoore@miningsm.com

    Regulatory Statements

    This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the Offering and Acquisition, including closing conditions and timing, and other matters related thereto. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: receipt of necessary approvals; general business, economic, competitive, political and social uncertainties; future mineral prices and market demand; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

    NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    The MIL Network

  • MIL-Evening Report: What’s the difference between skim milk and light milk?

    Source: The Conversation (Au and NZ) – By Margaret Murray, Senior Lecturer, Nutrition, Swinburne University of Technology

    bodnar.photo/Shutterstock

    If you’re browsing the supermarket fridge for reduced-fat milk, it’s easy to be confused by the many different types.

    You can find options labelled skim, skimmed, skinny, no fat, extra light, lite, light, low fat, reduced fat, semi skim and HiLo (high calcium, low fat).

    So what’s the difference between two of these common milks – skim milk and light milk? How are they made? And which one’s healthier?

    What do they contain?

    Skim milk

    In Australia and New Zealand, skim milk is defined as milk that contains no more than 1.5% milk fat and has at least 3% protein. On the nutrition information panel this looks like less than 1.5 grams of fat and at least 3g protein per 100 millilitres of milk.

    But the fat content of skim milk can be as low as 0.1% or 0.1g per 100mL.

    Light milk

    Light milk is sometimes spelled “lite” but they’re essentially the same thing.

    While light milk is not specifically defined in Australia and New Zealand, the term “light” is defined for food generally. If we apply the rules to milk, we can say light milk must contain no more than 2.4% fat (2.4g fat per 100mL).

    In other words, light milk contains more fat than skim milk.

    You can find the fat content by reading the “total fat per 100mL” on the label’s nutrition information panel.

    How about other nutrients?

    The main nutritional difference between skim milk and light milk, apart from the fat content, is the energy content.

    Skim milk provides about 150 kilojoules of energy per 100mL whereas light milk provides about 220kJ per 100mL.

    Any milk sold as cow’s milk must contain at least 3% protein (3g protein per 100mL of milk). That includes skim or light milk. So there’s typically not much difference there.

    Likewise, the calcium content doesn’t differ much between skim milk and light milk. It is typically about 114 milligrams to 120mg per 100mL.

    You can check these and other details on the label’s nutrition information panel.

    How are they made?

    Skim milk and light milk are not made by watering down full-cream milk.

    Instead, full-cream milk is spun at high speeds in a device called a centrifuge. This causes the fat to separate and be removed, leaving behind milk containing less fat.

    Here’s how fat is removed to produce skim and light milk.

    Who should be drinking what?

    Australian Dietary Guidelines recommend we drink mostly reduced-fat milk – that is, milk containing no more than 2.4g fat per 100mL. Skim milk and light milk are both included in that category.

    The exception is for children under two years old, who are recommended full-cream milk to meet their growing needs.

    The reason our current guidelines recommend reduced-fat milk is that, since the 1970s, reduced-fat milk has been thought to help with reducing body weight and reducing the risk of heart disease. That’s because of its lower content of saturated fat and energy (kilojoules/calories) than full cream milk.

    However, more recent evidence has shown drinking full-cream milk is not associated with weight gain or health risks. In fact, eating or drinking dairy products of any type may help reduce the risk of obesity and other metabolic disorders (such as heart disease and type 2 diabetes), especially in children and adolescents.

    The science in this area continues to evolve. So the debate around whether there are health benefits to choosing reduced-fat milk over full cream milk is ongoing.

    Whether or not there any individual health benefits from choosing skim milk or light milk over full cream will vary depending on your current health status and broader dietary habits.

    For personalised health and dietary advice, speak to a health professional.

    Margaret Murray does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. What’s the difference between skim milk and light milk? – https://theconversation.com/whats-the-difference-between-skim-milk-and-light-milk-255608

    MIL OSI AnalysisEveningReport.nz

  • MIL-Evening Report: Australian para sport has issues everywhere – here’s what must be fixed ahead of the Brisbane Paralympics

    Source: The Conversation (Au and NZ) – By Katherine Raw, Lecturer, Sport Management, Swinburne University of Technology

    Bratislav Kostic/Shutterstock

    Australia’s underwhelming performance at the 2024 Paris Paralympics has raised serious questions about how well our adaptive sport system is working. The Paris games returned our lowest medal tally since 1988, from our smallest team since 2004.

    This result hasn’t gone unnoticed.

    Ahead of the 2032 Brisbane games, now is the time to rebuild and strengthen grassroots disability sport across the country.

    To do this, we must focus on inclusive, sustainable and community-driven approaches that truly support people with disabilities from the very start.

    Issues at grassroots level

    Grassroots disability clubs are vital to the health of para sports in Australia.

    These local clubs give people with disabilities the chance to be active, which supports both physical and mental wellbeing.

    Just as importantly, they provide places where people can build friendships, feel included and develop a sense of belonging.

    Many paralympians start their journey in these environments; they’re not just places to play sport, they’re key to developing future talent.

    Current and former athletes have called for more and better participation opportunities in adaptive sport.

    Paralympian Leanne Del Toso called for more support for women’s wheelchair basketball after Australia missed qualification for the Rio and Paris Olympics.

    It shouldn’t be about funding, it shouldn’t be about access, it should be about equality.

    The message is clear: we need to rebuild from the ground up, starting with a stronger and more supportive grassroots system.




    Read more:
    If we truly want our Paralympic athletes to shine, their coaches need more support


    What are the main problems?

    Australia’s para sports system is often fragmented and inconsistent, especially compared to mainstream sports such as swimming or athletics, which usually have national pathways, structured support and a clear line from beginner to elite.

    But adaptive sports are often run in disconnected ways across different states, clubs or organisations.

    This system is often difficult to navigate for aspiring athletes.

    Another big part of the problem is the “mainstreaming” of adaptive sport: instead of creating separate systems designed specifically for people with disabilities, many sports fold disability sport into their existing structures.

    While this can sound inclusive, it often creates problems.

    Research shows this approach can actually narrow who gets to participate.

    Many organisations and leagues tend to follow a standard competitive model that doesn’t work for everyone, especially those with more complex needs.

    Even well-meaning attempts at inclusion can backfire if they don’t involve people with disability.

    That’s why researchers now believe adaptive sport only works when paired with real disability-specific knowledge, community consultation and strong systems of accountability.

    Without that, we risk reinforcing the very inequalities we’re trying to fix.

    Another problem is the lack of participation data.

    One of the main sources of sports participation data in Australia is the AusPlay survey.

    This gives some insight into who is playing sport and being active, but it doesn’t give enough detail when it comes to disability sport.

    For instance, while the AusPlay survey indicates 51% of adults with a disability engage in physical activity once per week, it lacks specificity regarding the activities these people participate in.

    This makes it hard for policymakers, funders and sport organisations to make smart decisions, as they don’t have enough information about who is participating, where the gaps are or how things are changing over time.

    With better data, we could target resources where they’re needed most, especially in communities that currently miss out.

    Some possible solutions

    If we want to fix these problems, we need a different approach.

    That starts with co-design: involving people with disabilities in designing the systems, programs and policies that affect them.

    It’s not just about asking for feedback, it’s about giving real decision-making power.

    A great example of this is Wheelchair Sports NSW/ACT, which has embraced co-design and made it a core part of its programs.

    This has led to a 380% increase in membership over five years, and a record number of affiliated clubs across their network.

    This success shows what’s possible when sport organisations stop designing systems for people with disabilities and start designing with them.

    When people feel valued and heard, they are more likely to get involved and stay involved.

    Recent initiatives, such as the new para unit launched by the Western Australian Institute of Sport (the original home of Australia’s Paralympic movement), demonstrate promising steps towards a more cohesive para sport system.

    But grassroots sport isn’t about medals. While we all love to celebrate paralympic success, local sport has a much bigger role to play.

    It helps people with disabilities stay healthy, feel included and connect with their communities. It can change lives on and off the field.

    As we look to Brisbane 2032, it’s clear paralympic success doesn’t start at the top. It starts in the community and on local fields.

    If we invest now in grassroots sport and centre people with disabilities in the design and delivery of programs, we can create a stronger and more inclusive future for para sport in Australia.

    The author would like to acknowledge the contributions of Mick Garnett to discussions on the future of adaptive sport in Australia.

    Katherine Raw does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. Australian para sport has issues everywhere – here’s what must be fixed ahead of the Brisbane Paralympics – https://theconversation.com/australian-para-sport-has-issues-everywhere-heres-what-must-be-fixed-ahead-of-the-brisbane-paralympics-256450

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Russia: Introduction of new professions in China reflects the vitality of the country’s economic development

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    At the closed test site of the National Internet of Vehicles Pilot Zone in Tianjin City (Xiqing District), Yao Zhonghua, an intelligent and connected vehicle (ICV) test specialist, is fully engrossed in creating a test scenario to prepare for the discovery of the ICV’s automatic emergency braking (AEB) function.

    “We use test equipment to conduct tests on the efficiency and reliability of intelligent and connected vehicle functions, and record test videos and data in real time,” said Yao Zhonghua, 33.

    In July 2024, the Ministry of Human Resources and Social Security of China and two other departments jointly released a list of 19 new occupations, and ICV tester is one of them.

    According to analysis by Wang Linlin, dean of the Department of Human Resource Management at Nankai University Business School, over 70 percent of these new jobs are aimed at building new-quality productive forces, covering cutting-edge areas of “digital intelligence” such as the digital economy, green energy and intelligent manufacturing, which are the result of China’s technological revolution and industrial upgrading.

    The introduction of new occupations leads to a broader range of products and services, allowing more people to make full use of their own advantages and open up new development opportunities. The new advanced occupations are highly consistent with the core content of the concept of “new quality productive forces” and reflect the vitality of China’s economic development.

    At present, China’s renewing professional system has accelerated its development towards digitalization and intellectualization. Both the emergence of many new professions and the diversification of employers also reflect the acceleration of the country’s economic transformation and modernization.

    “The emergence of new occupations creates a human resource base to ensure the growth of productive forces of new quality, promotes the movement of labor from low-value-added industries to high-skilled industries, and improves the overall quality of employment,” Wang Linlin said.

    Taking the ICV industry as an example, more and more Chinese auto enterprises are pursuing innovative changes driven by new technologies. Digital workshops, smart factories, etc. are being built one after another, and innovative technological solutions and application scenarios are being introduced, leading to the constant emergence of new types of work and new professions.

    She Hongzhi, deputy general manager of Yongtai Henji Investment (Tianjin), the operator of the National Internet of Vehicles Pilot Zone in Tianjin City (Xiqing District), said that in 2024, the total testing time at the closed testing site in the pilot zone exceeded 5,000 hours, showing a year-on-year increase of 150%.

    “We have activated the development of the ICV industry, promoted the integration of enterprises into an industrial chain, created hundreds of vacancies in new professions, and the demand for skilled personnel in the fields of artificial intelligence, intelligent manufacturing and big data continues to grow,” She Hongzhi emphasized.

    With the steady development of the digital economy, intelligent manufacturing and other fields, the demand for talent in new professions continues to grow. For example, according to forecasts in a report by consulting company McKinsey, by 2030, China’s demand for artificial intelligence specialists will reach 6 million people, and the shortage may reach 4 million people. According to the company’s estimates, the shortage of highly qualified digital specialists in China has already reached 25-30 million people, and it will continue to increase.

    MIL OSI Russia News

  • MIL-OSI China: China’s power use up 4.7% in April

    Source: People’s Republic of China – State Council News

    Staff members of the State Grid in Yuanshi County patrol the rooftop photovoltaic devices at a technology company in Yuanshi County, north China’s Hebei Province, May 14, 2025. [Photo/Xinhua]

    China’s electricity consumption, a key barometer of economic activity, saw steady expansion in April, official data showed on Tuesday.

    Power use rose 4.7 percent year on year in April to 772.1 billion kilowatt-hours, according to the National Energy Administration.

    In breakdown, power consumed by the primary and secondary industries gained 13.8 percent and 3 percent year on year, respectively, while that of the tertiary sector rose 9 percent.

    The electricity consumption for urban and rural residents reached 93.6 billion kilowatt-hours, marking a year-on-year increase of 7 percent.

    From January to April, the total power use climbed 3.1 percent to 3.16 trillion kilowatt-hours. 

    MIL OSI China News

  • MIL-OSI China: EV battery giant CATL lists in Hong Kong, marking largest IPO in years

    Source: People’s Republic of China – State Council News

    Guests attend the listing ceremony of Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) at the Hong Kong Stock Exchange in south China’s Hong Kong, May 20, 2025. CATL was listed on the Hong Kong Stock Exchange on Tuesday, with the stock code 3750. [Photo/Xinhua]

    Chinese electric vehicle (EV) battery maker Contemporary Amperex Technology (CATL) on Tuesday listed on the Hong Kong Stock Exchange with shares surging over 10 percent at market opening.

    CATL announced allocation results showing that, before the exercise of the overallotment option, the Hong Kong public offering was oversubscribed by about 150.2 times, raising a total of approximately 35.66 billion HK dollars (4.55 billion U.S. dollars), with net proceeds of 35.33 billion HK dollars after deducting listing expenses.

    On its listing day, CATL opened at 296 HK dollars, rising 12.55 percent from its offering price of 263 HK dollars. By midday, it traded at 307.6 HK dollars, up 16.96 percent, with a turnover exceeding 5.7 billion HK dollars.

    Paul Chan, financial secretary of the Hong Kong Special Administrative Region (HKSAR) government, said at the listing ceremony that CATL’s listing on the Hong Kong Stock Exchange can accelerate its global strategic expansion.

    Leveraging Hong Kong financing to support international growth is set to be a trend for mainland enterprises in export development, marking a new milestone in Hong Kong’s role in serving national development strategies, Chan added.

    Bonnie Chan, chief executive officer of the Hong Kong Exchanges and Clearing Limited (HKEX), said that in terms of funds raised, CATL’s IPO is the largest in Hong Kong in recent years and the biggest globally so far this year. This demonstrated the depth of the Hong Kong market and its solid fundamentals in supporting large-scale financing projects.

    CATL is an innovative new energy technology company, primarily engaged in the research, development, production, and sales of EV batteries and energy storage system batteries. It is already listed on the A-share market. (1 U.S. dollar equals 7.82 HK dollars) 

    MIL OSI China News