Weekly

Sino-US relations are still tense, and the Standing Committee of the National People's Congress will end today. According to people who participated in the meeting, it was clear that there were similar laws on Hong Kong's national security.

Just wait for the details, including penalties and implementation methods, and express our country's absolute determination to implement Hong Kong's national security law, so as to prevent other countries or organizations from attacking China's integrity and security through Hong Kong.

It is expected that the Standing Committee of the National People's Congress will conclude the case today and promulgate it to the whole country.  The United States pointed out that China undermined Hong Kong's one country, two systems granted by the Sino-British Joint Declaration and grossly damaged Hong Kong's autonomy.

Last Thursday, the U.S Senate unanimously passed the Hong Kong Autonomy Act, which can sanction people and enterprises that the U.S. believes are damaging Hong Kong's autonomy.  The bill allows sanctions against individuals or enterprises,

And the banks with which they do business.  The bill needs to be passed by the US House of Representatives, and then signed by President Trump before it will take effect.

Beijing sternly criticized the United States for its intention to interfere in China's internal affairs, and said it would take countermeasures and refuse to issue Chinese tourism certificates to American officials.  However, some business people who are pro-Hong Kong government said that if the United States really implements the Hong Kong Autonomy Act,

Hong Kong's economy is bound to suffer a serious blow, and China's counter-attack measures will only be in vain, which will not help Hong Kong maintain its international status.  Last night, the United States released the outstanding housing sales report for May.

Data rose by more than 44, the biggest increase in history, far exceeding market expectations.  Venture capitalists ignore the rising number of new cases of COVID-19's illness, and investors expect the United States to introduce more economic stimulus measures.

US stocks closed high across the board, with the Dow Jones Industrial Average rising 580 points to close at the highest level of 25,595 points, an increase of 2.3.
This morning, Federal Reserve Chairman Powell pointed out at a hearing in the House of Representatives that the economic prospects of the United States are still very uncertain, and the key lies in whether the epidemic can be controlled and the government's support for economic recovery.

Powell mentioned that after the end of social restrictions in some areas, it has been observed that enterprises are reopening, speeding up the recruitment of staff and increasing the expenditure of enterprises, and the employment figures have also continued to rise.

Consumer spending rebounded strongly last month, and has now entered an important new stage, which is mainly the challenge of controlling the virus.  Affected by economic data and market optimism, it supported the recovery of crude oil demand, which led to the rise of oil prices.

New york oil futures closed at US$ 39.7 per barrel, rising more than the 3 yuan index, hovering at 97.4 points, and the gold price also hovered near the seven-and-a-half-year high. The volatility of the gold price narrowed yesterday, rising and falling between 1767 and 1774.

It failed to test the new high of 1779 this month, and closed at 1771 dollars per ounce, down one dollar.  As for whether a breakthrough can be made on the last trading day in June to solve the seven-year itch, it is expected!

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