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OpenAI: Our models now have over a billion active users.

2026-07-31

OpenAI: Our models now have over a billion active users.

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2026-07-31

Under inter-ministerial guidance, MOFCOM, with the Ministry of Housing and Urban‑Rural Development, the Ministry of Culture and Tourism, the State Administration for Market Regulation and other agencies, convened expert reviewers and has proposed 32

Under inter-ministerial guidance, MOFCOM, with the Ministry of Housing and Urban‑Rural Development, the Ministry of Culture and Tourism, the State Administration for Market Regulation and other agencies, convened expert reviewers and has proposed 32 cities as the second batch of national retail innovation and upgrade pilot cities; the evaluation results have been posted for public comment.
2026-07-31

On July 30th, the Buffett Indicator (CSI 300 market capitalization/GDP) further declined to 88.2%, still not fully escaping the downward trend since June. The equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, slightly decr

On July 30th, the Buffett Indicator (CSI 300 market capitalization/GDP) further declined to 88.2%, still not fully escaping the downward trend since June. The equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, slightly decreased to 5.25%, remaining relatively stable around 5.2% since July, at the lower end of its fluctuation range since October 2024, suggesting that the current advantage of stocks relative to government bond yields is generally limited. -------- Note: 1. The Buffett Indicator compares total stock market capitalization to GDP to determine whether the stock market is currently overvalued. Generally, 70-100% is considered a normal valuation; below this range is considered undervalued, and above is considered overvalued. 2. The risk premium (ERP) of the CSI 300 Index is mainly compared with the returns of the CSI 300 and the yield of government bonds. Statistics from the past 10 years show that this indicator has a clear inverse relationship with the stock index. Every time the stock market is in the bottom area, the risk premium exceeds 6%. That is, when ERP ≥ 6%, the stock market has investment value, while when ERP ≤ 4%, the stock market is often close to or at a stage high, the investment value is low, and there is even a risk of correction.
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