Shanghai Strengthens The Financial Rule Of Law In The Free Trade Area

　　 according to The memorandum of cooperation, Shanghai procuratorial organs and financial regulatory agencies will focus on strengthening the communication and exchange of financial innovation system and relevant legal information in the FTA pilot area on the basis of the existing joint financial procuratorial joint meetings, and regularly focus on exchanging financial crimes such as money laundering and evasion in the financial system innovation of the FTA. We should strengthen professional cooperation in the field of criminal investigation, evidence collection and clues transfer in the financial field of FTA. For the new situation and new trend of financial crimes in FTA, it will affect the normal order of financial management, destroy the key issues and trend problems of financial reform, and so on. The two sides will also designate special persons as liaison officers to strengthen daily liaison and communication so as to ensure the normal operation of the rule of law.

Relevant link The US economy grew by 4.2% in the second quarter.

The first amendment data released by the US Commerce Department on 28 may show that the real gross domestic product (GDP) of the US in the second quarter increased by 4.2% on an annual basis, up from 4% of the previous estimate.

This data correction is mainly reflected in the upward revision of net exports to 10.1%, while private investment has been revised up to 17.5%. The growth in personal consumption expenditure, which accounts for about 70% of the US economy, remains unchanged at 2.5%.

　　 U.S.A The Ministry of Commerce usually makes three estimates of quarterly GDP data, and the final value for the second quarter will be announced in September 26th.

Affected by severe cold weather, the US economy contracted by 2.1% in the first quarter. Analysts believe that although the economy has shown signs of a marked recovery in the second quarter, the downside of the weather has also revealed that the vulnerability and endogenous driving force of the US economy are still insufficient.

The US Congressional Budget Office estimated on the 27 day that the US economy grew by 1.5% this year as the economy was too weak in the first quarter. The Obama administration's economic team predicted in July that the annual economic growth will reach 2.6%.