The Political Bureau of the CPC Central Committee Emphasizes the Importance of “Patient Capital” in Economic Development
On April 30, the Political Bureau of the CPC Central Committee held a meeting presided over by General Secretary Xi Jinping to analyze and study the current economic situation and economic work. The meeting emphasized the need to actively develop venture capital and strengthen patient capital.
The term “patient capital” was mentioned for the first time at this meeting, sparking widespread attention in the financial field. “Patient capital” refers to long-term investment capital with a high tolerance for risk and a longer-term outlook for capital returns.
The relationship between “patient capital” and the development of new productive forces was also discussed. General Secretary Xi Jinping has emphasized the importance of developing new quality productivity through scientific and technological innovation. However, achieving technological breakthroughs requires long-term and stable financial support, making “patient capital” crucial in this process.
To grow “patient capital,” experts suggest setting performance evaluation standards for long-term investments, creating benchmarks for investing in start-ups and small businesses, and encouraging investment institutions to focus on long-term value. The goal is to attract more capital to become long-term and patient capital, ultimately fueling the development of new productive forces.
This meeting aligns with the 2023 Central Financial Work Conference’s goal of optimizing the capital supply structure and allocating financial resources to promote technological innovation and advanced manufacturing. As China aims to cultivate new-quality productive forces, the development of venture capital and strengthening of patient capital are seen as key measures to support economic growth.
In conclusion, the integration of technology and finance is essential for the development of new productive forces. By actively promoting venture capital and strengthening patient capital, the financial industry is moving towards innovation and better serving the needs of the evolving economy.
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This is how things continue with the insolvent chain
– 2024-05-02 05:52:31
Galeria Karstadt Kaufhof has new investors and they are cleaning up: at some locations it is already clear what will happen next. Hundreds of employees are still worried.
Relocation of the corporate headquarters, layoffs of employees, closure of 16 branches: After the third bankruptcy in just four years and the takeover by new investors, one thing is certain: things are going on with the Galeria Karstadt Kaufhof department store chain, but not as before.
t-online provides an overview of what is known about the planned changes.
Food loses twice as much
For some branches there are already ideas about how things could continue. Food in particular is hard hit by Galeria’s decision. The chain is the largest tenant in Limbecker Platz and occupies an area of around 19,000 square meters, which extends over several floors. However, the news of the closure of the location was no longer a surprise for the mall’s operators, as center manager Anastasios Meliopoulus explained in a radio interview.
The center management has been working on an alternative solution for the retail space for around three years. “We are in very advanced discussions with four potential tenants. This would involve major renovation work that would bring the property forward in the next few years,” confirms Meliopoulus on Radio Essen. By dividing the area, there could be space for “three to four larger concepts” in the future. A new tenant for the entire area is a rather unlikely option. It was not revealed who the potential tenants were.
Still hope for Augsburg
Unlike in Essen, the closure of the branch in Augsburg comes as a surprise to many of those affected. In Bavaria, Economics Minister Aiwanger wants to fight “for every location”. But he only sees opportunities for Augsburg, he told Bayerischer Rundfunk.
In Chemnitz, too, the owner of the Galeria property, CCC Center Management, was surprised by the plans to close it. Managing director Andreas Uhlig told MDR: “From our point of view, the house in Chemnitz had a very good, economically viable concept from a commercial point of view with the new contract that we concluded with the Galeria.” But he is already working on a plan B. Given the good location directly on the market, it won’t be too difficult. “I’ll only talk about it once the contracts have been signed by all sides,” said Uhlig. The planned catering facilities on the ground floor of the building are being retained. A solution should be in place by next year at the latest, because then Chemnitz will be the cultural capital and an empty building in the middle of the city wouldn’t look too good.
Some experts expect that additional locations will be abandoned in addition to the 16 known closures. “I think 20 branches is a realistic number. Anything beyond that is a concession to the insolvency administrator so that you can get the contract and continue to operate the stores for a certain period of time,” said Jörg Funder, professor of corporate management in retail at the Worms University. The trading consultancy BBE writes that 50 to 60 houses are currently considered profitable.
The situation on the labor market gives hope
The past few months have been marked by uncertainty for employees. Most recently it was said that 1,400 of the 12,800 jobs would be cut. Jobs should also be saved in administration. Around 450 jobs will be lost at this point. The remaining positions will be distributed among the branches that will be closed. A reconciliation of interests and a social plan were agreed with the general works council.
This is how things continue with the insolvent chain – 2024-05-02 05:52:31
Domplatz Oasis Returns: Münster Residents Enjoy Popular Meeting Spot Once Again
From today, the oasis on Domplatz invites you to stay again. (Archive photo: Michael Bührke)
Many Münster residents remember the past springs and summers when 80 yellow chairs were lined up on the east side of the cathedral square under den Linden to popular meeting places grew. After the positive experiences of 2022 and 2023, the popular Domplatz oasis is now returning.
The campaign, organized by Münster Marketing and the A strong downtown initiative (ISI), continues until autumn, according to the administration. Until then, starting today (May 2), the city of Münster will set up the chairs every day at 10:00 am and collect them again at 8:00 pm. On Wednesdays and Saturdays, the Domplatz Oasis does not open until 4:00 pm because of the weekly market.
Last October, the former car park on the west side of Cathedral Square was redesigned. Fixed benches, tables and curved lounges invite you to sit, work or have a picnic. This outdoor furniture is part of the action program “City.Space.Life – Münsters Mitte Machen”, which aims to improve the quality of the city center. The development of Domplatz is a project of the urban center management, supported by the state of North Rhine-Westphalia.
2024-05-02 04:46:51
#Domplatz #Oasis #MEMORIAL #SONG
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Domplatz Oasis Returns: Münster Residents Enjoy Popular Meeting Spot Once Again