Beidou Industry Scale to Exceed 600 Billion Yuan by End of 2025: On the fifth anniversary of the Beidou-3 global satellite navigation system, the industry delivered impressive results: its scale increased from 403.3 billion yuan in 2020 to 570 billion yuan in 2024, and is expected to exceed 600 billion yuan by the end of this year (a 50% increase in scale). (CCTV Finance)

[Orange warning, there is a high possibility of flash floods in more than ten districts and counties in Qinghai] Affected by rainfall, the Qinghai Provincial Water Resources Department and the Qinghai Provincial Meteorological Bureau jointly issued a meteorological risk warning for flash floods: It is expected that from 13:00 on August 2 to 13:00 on August 4, there is a high possibility of flash floods in Xining City, Huangzhong District, Datong County, Huangyuan County, Ping'an District, Huzhu County, Xunhua County, Hualong County, Minhe County, Jianzha County, Gonghe County, Guide County, Menyuan County, Qilian County, Haiyan County, Gangcha County, and Tianjun County (orange warning). There is a high possibility of flash floods in parts of Leduo District, Tongren City, Henan County, Zeku County, Xinghai County, Guinan County, Tongde County, Delingha City, Ulan County, Dulan County, Yushu City, Chengduo County, Zhiduo County, Nangqian County, Zaduo County, Qumarlei County, Maqin County, Gande County, Dari County, Jiuzhi County, Maduo County, and Banma County (yellow alert). Other areas may also experience flash floods due to short-duration heavy rainfall. All regions are requested to pay attention to real-time monitoring, flood prevention and warning, and evacuation and risk avoidance.

[Some trains on the Guangzhou Railway Bureau have been suspended due to heavy rain.] According to the railway authorities, according to meteorological information, moderate to strong thunderstorms and localized heavy rainstorms are expected in central and southern Guangdong Province in the near future, adversely impacting rail transportation. To ensure the safety of passenger trains, the Guangzhou Railway Bureau will suspend some trains on the Beijing-Guangzhou Railway based on the extent of the rainfall. Some trains will also experience varying degrees of delays. According to a notice from the Guangzhou Railway Bureau, eight conventional trains on the Beijing-Guangzhou Railway are scheduled to be suspended on August 2nd, and 17 on August 3rd. The specific suspended train numbers can be found on the 12306 website (app). (CCTV News)

"Wukong" is born! Zhejiang University releases a 2-billion-neuron brain-inspired computer, is China's AI reaching new heights? ⑴ On August 2nd, the National Key Laboratory of Brain-Computer Intelligence at Zhejiang University released the next-generation neuromorphic brain-inspired computer "Wukong." ⑵ "Wukong" supports over 2 billion spiking neurons, ranking among the world's leading neuromorphic brain-inspired computer systems. ⑶ The system consists of 15 blade servers, each integrated with 64 Darwin III-generation brain-inspired computing chips. ⑷ A single chip can support over 2.35 million spiking neurons and hundreds of millions of synapses. ⑸ Laboratory Director Pan Gang explained that "Wukong" has over 100 billion synapses, a number of neurons close to that of a macaque brain. ⑹ Under typical operating conditions, its power consumption is approximately 2,000 watts. ⑺ Currently, "Wukong" has successfully run the DeepSeek brain-inspired large model, capable of performing intelligent tasks such as logical reasoning and content generation. ⑻ It can also preliminarily simulate the brains of a variety of animals, from C. elegans to macaques. ⑼ The release of Wukong marks a major breakthrough for China in the field of brain-inspired computing.

Behind the Yen's Plummet: Is the US-Japan Trade Deal Failed? Can Hawkish Central Bank Rhetoric Reverse the Tide? ⑴ The yen has recently fallen sharply against the US dollar, raising market doubts about the US-Japan trade deal's ability to boost the Japanese economy. ⑵ Investor expectations for a Bank of Japan rate hike by the end of the year are only 70%. ⑶ At its July meeting, the Bank of Japan did not signal a strong tightening policy. ⑷ Traders are awaiting wage growth and household spending data due this week. ⑸ Strong June wage and consumption data could reignite market bets on a Bank of Japan rate hike, providing support for the yen. ⑹ In addition, the Bank of Japan's summary of its meeting, released this Friday, will also attract significant attention. ⑺ If the summary is more hawkish than Governor Ueda's previous statements, the yen exchange rate is expected to receive a boost. ⑻ Elsewhere, Chinese trade data and New Zealand's quarterly employment data are also likely to attract attention. ⑼ Of particular note, the Reserve Bank of New Zealand's latest inflation expectations will directly impact market speculation of a rate cut.

[US-Canada trade negotiations are in trouble, is the Canadian dollar on the verge of death?] ⑴ Under Trump's tariff policy, trade relations between the United States and Canada remain tense. ⑵ The United States imposed a 35% tariff on Canadian goods not included in the USMCA agreement. ⑶ This move has caused the Canadian dollar to fall to a two-month low against the US dollar. ⑷ At the same time, the Bank of Canada is facing a dilemma between rising inflation and a slowing economy. ⑸ Although Bank of Canada Governor Macklem said that potential inflation may gradually subside, he also hinted that further interest rate cuts may be needed if the economy continues to weaken. ⑹ The market will closely monitor the upcoming July employment report, which will be a key indicator of the economic direction. ⑺ If the employment data is strong, it may reduce the need for the central bank to cut interest rates immediately, thereby providing support for the Canadian dollar. ⑻ Conversely, if the data is weak, it will increase pressure on the central bank to ease monetary policy, and the Canadian dollar may face further downside risks.