Domestic News - The People's Bank of China and other departments have jointly issued the "Implementation Rules for Cross-Border Asset Management Pilot Business in Hainan Free Trade Port," which supports foreign investors in investing in financial products issued by financial institutions in Hainan Free Trade Port, including wealth management products, private asset management products, publicly raised securities investment funds, and insurance asset management products [1] - The latest Loan Prime Rate (LPR) published by the National Interbank Funding Center shows that the 1-year LPR remains at 3.0% and the LPR for 5 years and above is at 3.5%, both unchanged for two consecutive months [1] - The Ministry of Commerce expressed strong dissatisfaction and resolute opposition to the European Union's decision to include certain Chinese enterprises and financial institutions in the sanctions list during the 18th round of sanctions against Russia, emphasizing that such actions violate the spirit of consensus between China and the EU [2] Economic Data and Trends - In June, China's total electricity consumption reached 867 billion kWh, a year-on-year increase of 5.4%. The first industry consumed 13.3 billion kWh (up 4.9%), the second industry consumed 548.8 billion kWh (up 3.2%), and the third industry consumed 175.8 billion kWh (up 9.0%). Residential electricity consumption was 129.1 billion kWh, increasing by 10.8% [3] - As of June, China's internet user base reached 1.123 billion, with an internet penetration rate of 79.7%, indicating a growing number of groups sharing the benefits of digital development [3] - The "Eight Vertical and Eight Horizontal" high-speed rail network has been completed and put into operation at 81.5%, with a total operating mileage of 48,000 kilometers, covering 97% of cities with populations over 500,000 [3] International News - Japan's Prime Minister expressed commitment to advancing trade negotiations with the U.S. to protect national interests, with the Japanese Minister of Economic Revitalization traveling to the U.S. for the eighth round of talks [5] - The average house price index in the UK decreased by 1.2% month-on-month in July, marking the largest single-month decline for the same period in previous years, attributed to an increase in buyer choices [5] Market Overview - The Shanghai Composite Index closed at 3559.79, up 0.72%, while the Shenzhen Component Index rose by 0.86% to 11007.49. The ChiNext Index increased by 0.87% to 2296.88 [5] - The onshore RMB was quoted at 7.1768, down 23 points, while the offshore RMB was at 7.1792, up 1 point. The U.S. dollar index decreased by 0.25% to 98.236 [5]

Core Viewpoint - Pakistan is betting on Bitcoin mining and AI data centers to boost its economy, allocating 2000 MW of electricity for mining while facing significant challenges in energy supply and infrastructure development [1][2][6] Group 1: Economic Strategy - Pakistan's economy has heavily relied on agriculture, which has limited returns, prompting a shift towards mining as a potential growth avenue [1] - The government aims to attract foreign investment by providing cheap land, abundant labor, and favorable policies for mining operations [4][6] Group 2: Energy and Infrastructure Challenges - The mining industry requires substantial energy, funding, and technological support, which Pakistan currently lacks, leading to widespread power outages affecting residential and industrial areas [2][5] - Despite the allocation of 2000 MW for mining, the existing energy resources are insufficient to meet the high demands of the mining sector [1][2] Group 3: Risks and Consequences - The reliance on mining poses significant risks, including potential economic chaos if mining operations fail due to technical or natural issues, leading to a loss of income and increased public discontent [2][6] - The benefits of mining are likely to favor foreign investors rather than the local population, raising concerns about the equitable distribution of profits [4][5] Group 4: Alternative Development Paths - Experts suggest that Pakistan should focus on strengthening its agricultural sector, improving infrastructure, and diversifying its economy rather than relying on the volatile mining industry [7][8] - Sustainable economic growth requires a cautious approach, emphasizing gradual development and leveraging existing strengths rather than pursuing high-risk ventures [8]