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We should cherish and protect the precious market confidence: Global Times editorial

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BEIJING, Oct. 8, 2024 /PRNewswire/ — How will China’s economy perform next? During the National Day holidays that just passed, observers both at home and abroad not only paid their attention on the popularity of holiday tourism, but also held unique expectations for China’s economic performance. A series of proactive measures since late September have stimulated market optimism and promoted the rapid warming of the stock and property markets. On the first day after the holidays, the State Council Information Office will hold a press conference to brief on the “systematic implementation of a package of incremental policies aimed at solidly promoting the upward structural improvement of the economy and the continued improvement of the development trend.” People can clearly feel that confidence in the Chinese economy is genuinely and steadily increasing.

In response to the surge in new account openings in the securities market during the National Day holidays, the Shanghai Stock Exchange announced it will extend the acceptance time for designated trading order instructions starting from October 8. With the intensive release of new real estate policies in many places, sales of commercial housing have increased significantly. “The coffee machine has reached the upper limit of cup output” at a housing sales office in Guangzhou; many overseas institutions, including Goldman Sachs, HSBC, and Citigroup, are optimistic about the positive impact of the policy on the market… “Exceeding expectations” has become a high-frequency phrase in many market research reports, which is actually reasonable. They once again confirm a significant judgment: The fundamentals of the Chinese economy and favorable conditions, such as a vast market, strong economic resilience and great potential, have not changed.

China’s economy has a solid and stable foundation, and the current trend of high-quality development runs deep. Although data such as stock market statistics, investment returns and consumer demand reflect relatively short-term and superficial conditions, they directly indicate confidence in the economy. The global economy has not yet emerged from its downturn, and geopolitical conflicts have further complicated the situation. International hot money has adopted a wait-and-see attitude, and the economic competition among major countries has, to some extent, become a tug of war of confidence centered around economic narratives. The immediate effects of this round of policy adjustments in specific areas demonstrate that we still have sufficient tools in our toolbox under the current circumstances. China remains one of the fastest growing, most stable and predictable major economies in the world.

Confidence is more precious than gold. After experiencing the impact of both internal and external complicated factors in recent years, people deeply feel the preciousness of confidence. How to maintain and further effectively enhance confidence remains a priority. We must realize that many problems cannot be solved overnight. In addition to fostering short-term confidence, we also need to build a solid foundation for long-term confidence. In fact, the recent rise in stock market enthusiasm is influenced by a certain degree of market conformity psychology, but more importantly, it reflects society’s expectation that the Chinese stock market can truly achieve a healthy “long bull” market. The steady pace of high-quality medium- to long-term development of the Chinese economy serves as the fundamental support for realizing the prospects of a “long bull” market. 

The fundamental goal of China’s development is to enable its people to live better lives. From crowded tourist attractions to the popularity of exchanging old consumer goods for new ones, these phenomena reflect the people’s pursuit of a better life. The rapid increase in confidence in economic growth in the short term is largely due to the policies introduced by the Central Committee of the Communist Party of China, which embody a “scenario-based” approach and respond to the public’s expectations for stabilizing the housing market and the stock market – stability in the housing market represents a scenario of “safe and happy living,” while stability in the stock market signifies a scenario of “profitable investment.” For various regions and departments, the next important step is to implement the decisions and deployments of the Central Committee of the CPC, further deepen the policies and measures that aim at stabilizing expectations and enhancing confidence, and promote a sustained recovery and improvement in the economy. As economic expectations continue to improve, market and investor confidence will be maintained.

The Chinese economy has shifted from a phase of rapid growth to a phase of high-quality development. This process itself will bring certain growing pains, but we have already seen more opportunities and broader prospects emerging on the new track. For example, the emerging economy represented by the “three news” – new industries, new business formats, and new business models – is continuously developing, and the formation of new quality productive forces is accelerating. This has become an important driving force for economic transformation and upgrading, as well as for enhancing economic vitality. In the new situation, we must prioritize action, unite our efforts, and solidly promote transformation and upgrading. By overcoming these challenges, China’s economy can steadily advance on the path of high-quality development.

Chinese people often say, “Every obstacle is difficult, but we will overcome each one; there are always more solutions than difficulties.” With the further strengthening of macro policies, and the optimization of the investment and business environment, a positive interaction between industrial upgrading and employment growth, as well as between financial investment and the real economy, will take shape. This will create a vibrant atmosphere for entrepreneurs and investors to engage in business and innovation. From 1979 to 2023, China’s average contribution to global economic growth has ranked first in the world. This story is far from over; the future will continue to be written. Believing in and investing in China is an investment in the future.

 

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SOURCE Global Times

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Blockchain Founders Fund Surpasses 150 Investments, Establishing Itself as a Leading Web3 Venture Capital Firm

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October 8, 2024

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Blockchain Founders Fund Surpasses 150 Investments, Establishing Itself as a Leading Web3 Venture Capital Firm

SINGAPORE, Oct. 9, 2024 /PRNewswire/ — Blockchain Founders Fund (BFF), a global leader in Web3 venture capital based in Singapore, has reached a significant milestone, now in more than 150 companies across the blockchain and decentralized finance (DeFi) ecosystem. This achievement further solidifies BFF’s reputation as a premier VC firm, committed to supporting the next generation of Web3 innovators.

Partner Mansoor Madhavji stated, “This achievement underscores our commitment to fostering a sustainable and scalable Web3 ecosystem. Each of our 150 investments represents a founder willing to challenge the status quo and push the boundaries of what’s possible in blockchain technology. We are in it for the long haul and are excited to see what the next wave of BFF-backed innovators accomplishes.”

Among the companies in BFF’s diverse portfolio are industry game-changers such as Biconomy, Altered State Machine (acquired by Futureverse), Arf (acquired by Huma Finance), Berachain, Backed Finance, Freename, Rilla Network, HiFi, Zoth, Resonance Security, Hivello, Uniblock, TransFi, SuperSight, Breshna, Umoja Labs, Petastic, BoomFi, Kino, K3 Labs, LunarCrush, and Validation Cloud.

BFF’s most recent investments include innovative companies like Sphinx, Kredete, Ditto Network, NodeOps, TDMM, Roundtable, Redefined, Kemet, E Money Network, Beluga, Sapien AI, Tanssi Network, Material10, Torram, Koii, and GR1D Network, which are poised to shape the future of Web3 infrastructure, tooling, and financial services.

Managing Partner, Aly Madhavji, said: “Reaching over 150 investments is not just a milestone for us; it’s a testament to the incredible founders we have had the privilege of working with. We focus on identifying disruptive innovations and providing the support needed for these startups to succeed in the Web3 space. The ecosystem is rapidly evolving, and we are excited to continue driving meaningful impact by backing visionary entrepreneurs across the globe.”

This major milestone comes as Token2049, the largest crypto event in Asia, wrapped up in BFF’s hometown of Singapore. Blockchain Founders Fund hosted four exclusive events, in collaboration with Roundtable, Cadenza, XBTO, Torram, Ithaca, GORA, KAIKA, CoinTelegraph, BitcoinOS, DNA, and Aethir, Leading industry figures, investors, and thought leaders gathered at the events to discuss the future of blockchain and decentralized technologies. The BFF team is attending Bitcoin Malaysia Conference and ETHKL in Kuala Lumpur in October 2024, strengthening its presence as a leading figure in the Southeast Asian Web3 landscape.

About Blockchain Founders Fund

Blockchain Founders Fund (BFF) is a Singapore-based early-stage Venture Capital Fund that invests in top-tier Blockchain startups globally. Their industry-leading go-to-market-focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast-track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the industry, including tooling, DeFi, and infrastructure. Follow BFF on LinkedIn and X.

View original content:https://www.prnewswire.com/apac/news-releases/blockchain-founders-fund-surpasses-150-investments-establishing-itself-as-a-leading-web3-venture-capital-firm-302270477.html

SOURCE Blockchain Founders Fund

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Archistar Secures Contract with the City of Austin for Groundbreaking AI-Powered Automated Building Permit Assessment Platform

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56 mins ago

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October 8, 2024

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SYDNEY, Oct. 9, 2024 /PRNewswire/ — The City of Austin has entered into a landmark contract with Archistar for the deployment of its innovative automated building permit assessment software. This 5-year contract represents a significant step forward in leveraging AI to streamline the city’s building permit assessment processes.

Archistar, an industry leader in AI-driven property and planning solutions, has been at the forefront of digitizing planning and building codes for seven years. Originally based in Australia, Archistar has experienced overwhelming demand in North America, with Austin becoming the first U.S. City with a contract to fully implement Archistar’s AI-powered platform after a successful three month pilot. Over 30 cities globally are now piloting or using Archistar to improve their permit assessment process.

“We are thrilled to be working with the City of Austin, a recognized leader in innovation within the U.S.,” said Dr. Benjamin Coorey, Founder of Archistar. “Our AI technology will significantly improve approval times, reduce costs, and allow the city to focus on more complex evaluations, creating a more efficient and effective permit review process.”

About Archistar eCheck

Archistar’s eCheck technology plays a pivotal role in this transformation. The process begins when an applicant submits their design for a pre-check assessment before they apply for their permit. The eCheck platform reads the designs directly from the submitted drawings and evaluates the design against digitized planning and building codes. The outcome of this assessment is a comprehensive, standardised compliance report, which is then included with the permit application demonstrating compliance. This automated, data-driven process simplifies complex regulatory frameworks, enabling faster, more consistent decision-making for both applicants and city planning authorities.

Typical Challenges in Permitting

The process for reviewing and approving permits can be lengthy, especially when dealing with high volumes or complex projects. The permitting process continues to face a variety of challenges, including:

Inconsistency in Submission Completeness and Quality: Applications often vary significantly in their completeness and adherence to requirements, leading to delays and added complexity.Multiple Submissions Due to Non-Compliance: Applicants often need to re-submit their applications multiple times to address non-compliance issues, which adds further delays.Costly Delays: Delays in the approval process not only slow down project timelines but also add significant costs to applicants, including holding costs and project overruns.

Benefits of Archistar’s Platform

The pilot program proved the value of Archistar’s eCheck technology, particularly in addressing the complexities of zoning bylaws within the permit assessment process. The full platform deployment promises further benefits, including:

Faster approval times for permits, allowing the City to accelerate the pace of housing development.Reductions in requests for information and rework between city staff and the submitter, reducing friction between applicants and staff.A faster initial assessment means more bandwidth to process additional applications and a significant reduction in time to assess.An independent, standardised and thorough initial audit check using computerised systems.Standardise measurements and report on all submissions regardless of the quality of submission.Benefits to the wider property ecosystem including more transparency and certainty in the approval process and reduced timelines, holding costs and more effective supply chain management.Increased customer satisfaction and a better customer experience.

The City of Austin faces challenges including managing complex zoning by laws and ensuring timely compliance in its permitting process. “With Archistar’s platform, we will be able to provide faster and more informed feedback on building plans, and that’s crucial in our journey to improve the development process,” said José G. Roig, Director of Austin’s Development Services Department. “The eCheck technology will transform the building plan review process, helping us deliver a smoother process for applicants and better service to our community.”

The City of Austin continues to collaborate with Archistar, being one of ten cities to also participate in a pan-USA pilot focused on automating the International Building Code compliance review. This collaboration between key cities in the US, the International Code Council and Archistar is a project that will likely shape the future of building code permit assessment across the country.

Dr. Coorey added, “We’re excited to partner with the City of Austin, and the benefits will extend to developers, homeowners, and city staff alike. Our platform’s AI-driven capabilities are designed to not just streamline processes but to deliver a digital transformation resulting in more housing for the City.”

About Archistar:

Archistar is a global leader in AI-driven property technology, specializing in automating zoning and building code compliance, 3D generative building design, and providing data-driven insights for city planning and property development. The company operates globally with clients across Australia, the U.S., Canada, and the Middle East.

For more information, visit www.archistar.ai. 

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SOURCE Archistar

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Trafera Acquires Now Micro, Strengthening Commitment to Innovative Technology Solutions

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56 mins ago

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October 8, 2024

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ARDEN HILLS, Minn., Oct. 8, 2024 /PRNewswire/ — Trafera, a leading provider of education technology solutions and Rotunda Capital Partners portfolio company, is excited to announce the acquisition of Now Micro, a trusted partner in delivering tailored technology solutions since 1993. This strategic move aims to enhance both companies’ capabilities, providing customers with an expanded range of services and solutions.

“We are thrilled to unite with the talented team at Now Micro… and become the best problem-solvers for our clients.”

Now Micro, known for its core belief that “Because Now Matters,” has a long-standing history of empowering businesses with innovative hardware, software, and services. The company prides itself on simplifying technology to maximize productivity and minimize disruption, establishing itself as a leader in information technology, physical security, and digital screen media.

“We are thrilled to unite with the talented team at Now Micro in order to provide an expanded set of solutions across multiple market segments while providing greater opportunities for our employees and supplier community,” said Trafera CEO Pat Davidson. “Both companies believe that while customers seek technology solutions, it’s the personal touch that truly makes the difference. By merging our teams, we are enhancing our capabilities and further positioning ourselves as the better problem-solvers for our clients.”

Founded in 2020 through the merger of FireFly Computers and Trinity3 Technology, Trafera has since expanded its portfolio by integrating AXI Education Solutions and Kincaid IT. With headquarters in Arden Hills, MN, and repair facilities across the United States, Trafera has established itself as a trusted partner for buying, deploying, repairing, and supporting classroom technology.

Now Micro’s Executives, Pat Finn and Bob Milam expressed excitement about the acquisition stating: “Now Micro was ready to take the next step in our growth. By joining forces with Trafera, we will provide our customers with an even broader range of services to make their work easier. We are excited about what the future holds for our combined teams.”

This acquisition is an important step for both companies, bringing added value to clients through our combined expertise, resources, and a broader range of offerings.

About Trafera:
Trafera is a leading provider of educational technology to K-12 schools and a top K-12 focused reseller of Google Chrome devices. Trafera offers a broad range of additional hardware and software solutions that support better outcomes through technology and also offers a robust set of services including deployment and warranty support. Based in St. Paul, Minnesota, the company also has operations in Arden Hills, Minnesota; Madisonville, Louisiana; and Muskogee, Oklahoma supporting the needs of school districts nationwide. Visit www.trafera.com.

About Now Micro:
Founded in 1993, Now Micro is committed to delivering effective technology solutions that empower businesses. With a focus on simplicity and customer success, Now Micro offers a wide range of services designed to meet the evolving demands of the technology landscape.

For more information about the acquisition and what it means for customers, please visit https://www.trafera.com/ or https://www.nowmicro.com/ .

Contact: Jessica Crincoli, jessica.crincoli@trafera.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/trafera-acquires-now-micro-strengthening-commitment-to-innovative-technology-solutions-302270683.html

SOURCE Trafera

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