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china

Hong Kong, China: Betting on sports events in "prediction markets" is considered illegal gambling and should cease the promotion of new gambling projects

According to Hong Kong Radio, the Hong Kong government has decided to stop promoting basketball gambling projects. The Secretary for Home Affairs and Youth Affairs, Mak Mei-juan, stated in an interview with this station that the information collected by the authorities shows that the "prediction market" has developed rapidly in recent years, with monthly trading volume increasing from less than $100 million two years ago to over $13 billion last year, of which nearly 40% of the transactions are related to sports. The authorities are concerned that if new gambling projects are promoted at this time, it will lead to greater public concern and even participation in illegal gambling in the "prediction market." Therefore, it is believed that research should be conducted first before deciding on the next steps, and the promotion of new gambling projects should be halted for now.Mak Mei-juan stated that the existing regulated gambling projects have established a more mature monitoring and management system, which can help control risks. However, due to the uncertainty of the "prediction market," as a responsible government, there is a need to conduct research to understand the impact of the "prediction market" and its prevalence in Hong Kong. She also mentioned that the government has always maintained close contact with the Hong Kong Jockey Club, as the club has a rigorous monitoring system to oversee illegal gambling situations, and there are experts specifically targeting the fight against illegal gambling. The government will cooperate with the Jockey Club to obtain professional advice, allowing the authorities to implement measures specifically aimed at illegal gambling.Mak Mei-juan reiterated that the government's consistent policy is not to encourage gambling, and betting on sports projects in the "prediction market" is considered illegal gambling. The authorities will strengthen public education to help citizens understand the harms of gambling and refrain from participating in illegal gambling.

World Gold Council: Central banks around the world net purchased 19 tons of gold in February, with China increasing its gold holdings for the 16th consecutive month

The World Gold Council released the February central bank gold purchase report this week, showing that central banks net bought 19 tons of gold in February 2026. Although this is still below the monthly average of 26 tons reported for 2025, it represents an increase compared to the net purchase of 5 tons in January 2026.The World Gold Council stated that the situation in February seems to indicate a rebound in central bank gold purchases after a quiet January, highlighting the recognition and commitment of central banks to gold as a reserve asset. Additionally, the report shows that some central banks have maintained a record of continuous net gold purchases, accumulating 44 tons from November 2024 to February 2026, with the Czech Republic reporting net purchases for the 36th consecutive month. China has increased its gold holdings for the 16th consecutive month.Goldman Sachs' research report at the end of March pointed out that supported by the ongoing gold purchases by central banks and the expectation that the Federal Reserve will cut interest rates twice this year, the medium-term outlook for gold remains solid, with gold prices expected to rise to $5,400 per ounce by the end of the year. UBS also projected at the end of March that the target price for gold in early 2027 will be $5,900 per ounce.

The Ministry of Industry and Information Technology of China issued a risk alert regarding the timely update of specific iOS versions to prevent the exploitation of vulnerabilities

The Cybersecurity Threat and Vulnerability Information Sharing Platform (NVDB) of the Ministry of Industry and Information Technology of China has monitored and found that attackers are using exploit tools targeting Apple Inc.'s terminal products to carry out cyber attack activities, which can lead to serious harms such as information theft and system control. The affected range includes Apple terminal products such as iPhone and iPad running iOS 13 to 17.2.1.Attackers induce users to use the Safari browser to visit web pages containing malicious code through methods such as SMS, email, or web poisoning, comprehensively utilizing security vulnerabilities present in the terminal devices to implant remote control Trojans into the victim's terminal products, stealing sensitive user information, gaining maximum privileges, and taking control.It is recommended that users of Apple terminal products conduct risk assessments, and promptly fix vulnerabilities through version upgrades and patch installations (refer to the Apple Security Updates). Pay attention to system update notifications and the latest security update announcements released by Apple, upgrade to the latest secure version in a timely manner, strengthen security awareness, avoid clicking on unknown links, and prevent the risk of cyber attacks.

The Ministry of Industry and Information Technology of China: Explore innovative businesses such as "computing power banks" and "computing power supermarkets" to support small and medium-sized enterprises in depositing idle computing power resources

According to a report by Jinshi Data, the General Office of the Ministry of Industry and Information Technology has issued a notice on launching a special action to empower the development of small and medium-sized enterprises (SMEs) through inclusive computing power, mentioning the innovative service model of computing power.Improve the SME section of the China Computing Power Platform, the computing resource docking section of the China SME Service Network, and the national computing internet service node section (hereinafter collectively referred to as the SME platform section), to promote the precise matching of SME demand and computing resource supply, and implement flexible payment models such as "card time," "calculated time," and Token billing.Explore innovative businesses such as "computing power banks" and "computing power supermarkets," supporting SMEs to deposit idle computing resources and achieve flexible use through cross-regional and cross-cycle scheduling. Implement an artificial intelligence SME entrepreneurship support plan, encouraging local relevant departments to subsidize "computing power vouchers," "storage vouchers," and "transportation vouchers" to SMEs that meet industrial orientation through the SME platform section, simplifying the acquisition and usage process.

Landscape Fund strategically invests in Zhihui Cloud World, increasing investment in China's AI intelligent computing power infrastructure

The artificial intelligence industry is transitioning from generative AI and model inference acceleration to the era of intelligent agents, entering a new phase of rapid development. Landscape Fund officially announced a multi-million dollar strategic investment in Zhihui Cloud World, firmly optimistic about the continuous growth of Token consumption in the intelligent agent scenarios in mainland China, with a focus on laying out the intelligent agent computing power scheduling and cloud service track.Zhihui Cloud World focuses on the artificial intelligence infrastructure platform, cloud computing services, and computing power scheduling technology, providing stable and efficient computing power support and technical solutions for large model training, inference, and the commercialization of AI intelligent agents. With the collaborative efforts of multiple intelligent agents and the large-scale implementation of enterprise-level intelligent agents, the demand for Token invocation and computing power is experiencing explosive growth, indicating clear growth potential for the company's business.Landscape Fund stated that this round of financing will help Zhihui Cloud World solidify its technological foundation, expand computing power scale, optimize intelligent agent service efficiency, further seize the dividends of the industrialization of intelligent agents, and promote the upgrade of China's AI intelligent agent infrastructure.

Former Governor of the People's Bank of China: We can explore cryptocurrencies and blockchain technology, the key is to adapt to user experience

Zhou Xiaochuan, former governor of the People's Bank of China, stated yesterday at the Boao Forum for Asia Annual Conference 2026 that a good payment system is not a champion of a single technology or performance. Just like instant payment is not necessarily good, the most important thing is "adaptation." He pointed out that regulation needs to combat money laundering and prevent drug trafficking, cross-border gambling, telecom fraud, etc. Several central bank governors mentioned at the forum that digital currencies are now used in payment systems, but fraud also uses digital currencies, and "it is quite severe." Zhou Xiaochuan believes that the ability to combat fraud still needs to be continuously improved.When discussing the topic of regulatory adaptation, Zhou Xiaochuan mentioned stablecoins again. He said that now, as soon as the proceeds from telecom fraud arrive, they are immediately split into hundreds or thousands of accounts to evade compliance checks, which means it is quite difficult to recover losses afterward. "Stablecoins fundamentally bypass compliance checks; everyone needs to think clearly and not follow the trend." Zhou Xiaochuan also emphasized that cryptocurrencies and blockchain technology can be explored, but it does not mean that "peer-to-peer" and "decentralization" are all positive. One cannot hastily conclude that using correspondent banks and SWIFT messages in the original backend systems is outdated; the key is to adapt to the user's experience.
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