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  • Vietnams New Cryptocurrency Regulations Spark Confusion Among Investors
    Vietnam's New Cryptocurrency Regulations Spark Confusion Among Investors Vietnam has introduced regulations to control both trading methods and capital flows in its cryptocurrency market, which is set to begin pilot operations. Domestic investors who trade cryptocurrencies without going through licensed service providers approved by the Ministry of Finance may face fines. Additionally, splitting transactions into multiple parts or using anonymity tools could be classified as suspicious money laundering activities, leading to increased confusion among investors.According to local reports from VnExpress and others on July 23, the Vietnamese government established administrative penalties for violations related to cryptocurrencies in Decree 284/2026, announced on July 16. This decree applies during the pilot operation period outlined in Resolution 05/2025. It allows for fines of up to 20 million dong (approximately $840) for institutions and up to 10 million dong (about $420) for individuals. If an individual violates the regulations in the same manner as an institution, they will be liable for half the amount imposed on the institution.The most significant change is the limitation on trading channels available to investors. Domestic investors who trade cryptocurrencies without going through a Ministry of Finance-approved service provider may face fines ranging from 30 million to 50 million dong (approximately $1,260 to $2,100).For transactions involving cryptocurrencies that are only permitted for foreign investors, the penalties are even steeper, ranging from 70 million to 100 million dong. The obligations for service providers have also been strengthened. If a service provider fails to verify the identity of investors when opening accounts, they could face fines of 50 million to 70 million dong. Collecting, storing, exchanging, selling, gifting, or disclosing cryptocurrency-related data and account information without permission could result in fines of 150 million to 200 million dong.Unlicensed operations and advertising will also face strict penalties. Institutions providing or promoting cryptocurrency services without authorization could be fined between 180 million and 200 million dong. Selling cryptocurrencies to individuals who are not investors or issuing them before meeting conditions, as well as failing to properly disclose investment prospectuses, could also incur fines of 150 million to 200 million dong.If an issuing entity provides inaccurate or incomplete information to regulatory authorities, service providers, or investors, they will also face penalties, with fines set between 100 million and 150 million dong. Decree 284 will take effect on September 1 and will be enforced during the pilot operation period established by Resolution 05/2025.Shift Toward Licensed Exchanges and Expanded Money Laundering CriteriaThe cryptocurrency regulations are expanding beyond administrative penalties to include anti-money laundering frameworks. On July 14, the Standing Committee of the National Assembly of Vietnam reviewed proposed amendments to the Law on the State Bank of Vietnam, the Anti-Money Laundering Law, and the Law on Credit Institutions. Pham Thi Kim Chi, Governor of the State Bank of Vietnam, reported that the amendments to the Anti-Money Laundering Law will include 'cryptocurrency services' as mandatory reporting subjects and will redefine indicators of suspicious transactions in this sector. The amendments propose 15 indicators to identify suspicious transactions in cryptocurrency trading.Key indicators include splitting transactions to avoid customer verification or reporting requirements. Repeated deposits and withdrawals shortly after account creation, or transferring assets to countries or regions with high risks of money laundering or terrorist financing without reasonable justification, are also included. Transactions involving frequent conversions of cryptocurrencies to fiat currency under unfavorable price conditions may also be considered suspicious. Transactions where multiple accounts or wallets send assets to the same address or where a single account rapidly distributes assets to multiple wallets are also subject to reporting.Using cryptocurrencies with enhanced anonymity or mixing services to conceal the source of funds is classified as a suspicious indicator. Transactions linked to wallets or cryptocurrency service providers associated with past fraud, online gambling, extortion, or stolen assets may also be reported. Additionally, using anonymous tools when accessing platforms or delaying or refusing to provide customer identification information will be regulated. Transactions with unregistered or unlicensed cryptocurrency service providers without being able to explain the source of assets are also flagged as suspicious.The agency responsible for drafting the legislation stated that the amendments aim to align the anti-money laundering system with international standards and reduce legal gaps. The revisions also seek to prepare for evaluations by the Financial Action Task Force. However, during the legislative review process, concerns were raised about the overly broad criteria. Phan Van Mai, Chairman of the Economic and Financial Committee, emphasized the need to clarify the concept of 'cryptocurrency services' and the scope of services subject to reporting obligations. He also called for more specific criteria for identifying suspicious transactions to ensure practical application.Vietnam's cryptocurrency market has been in a pilot operation since September last year and will continue for five years. Cryptocurrencies refer to digital assets that are authenticated through cryptographic or digital technology during their creation, issuance, storage, and transfer processes. In the pilot market, the sale, issuance, trading, and payment of cryptocurrencies will be conducted in Vietnamese dong. Until a separate tax system is established, transactions involving cryptocurrencies will be taxed similarly to securities. The government will initially allow the establishment of exchanges for a maximum of five companies to control risks and assess impacts before expanding the market.Investor ConcernsInvestors are questioning how the new regulations will be applied in practice. One reader asked whether a Vietnamese worker in the U.S. using the licensed Coinbase platform would be considered as trading on an unlicensed platform under Vietnamese standards.There were also inquiries about where to find the list of licensed exchanges. Another reader questioned, “How can I know if an exchange has received regulatory approval?” Confusion also arose regarding the range of tradable assets and products. One reader asked, “If a Vietnamese exchange does not support a specific coin, can I trade it on an international exchange?” Another expressed concern about how to proceed if their cryptocurrency is not listed on a licensed exchange.Additionally, there were criticisms regarding the ambiguity of the transaction-splitting criteria. One reader questioned, “In cryptocurrency trading, it is common to buy a little when prices drop, sell some when they rise, and buy again if prices increase further. Would this also be considered transaction splitting?” 2026-07-23 15:52:00
  • Samsung Biologics Reports Strong Q2 Revenue and Operating Profit Amid Union Strike Concerns
    Samsung Biologics Reports Strong Q2 Revenue and Operating Profit Amid Union Strike Concerns Samsung Biologics continued its solid growth in the second quarter, meeting market expectations with strong performance. The company attributed its revenue and profit increases to full operation of its production facilities and favorable exchange rates. However, union-related risks are expected to pose challenges in the second half of the year.On July 23, Samsung Biologics announced that it recorded a revenue of 1.32 trillion won and an operating profit of 586.4 billion won for the second quarter. This represents a 30% increase in revenue and a 23% increase in operating profit compared to the same period last year. The operating profit margin remained above 40%.The results reflect the full operation of its first to fourth plants and the positive impact of favorable exchange rates. Although there were some production delays, the contribution from new facilities offset these issues, allowing the company to maintain double-digit growth. Notably, the company demonstrated a stable profit generation structure, maintaining high profitability even before the full revenue recognition from its fifth plant and the production facility in Rockville, USA.Looking ahead, additional growth is anticipated in the second half of the year. As revenue contributions from the Rockville facility and the fifth plant in Songdo ramp up, there is potential to achieve the upper end of the annual revenue growth guidance of 15-20%. Market analysts suggest that the annual performance may exceed previous forecasts due to increased operating rates at the Rockville plant.The company’s financial structure remains stable, with total assets of 12.65 trillion won, equity of 8.36 trillion won, and liabilities of 4.29 trillion won as of the end of the second quarter. The debt ratio stood at 51.3%, and the borrowing ratio was 11.5%.Samsung Biologics is also accelerating its global business expansion and securing new modalities. The company is establishing a sales office in Europe, aiming to build a sales network that covers the three major global biotech markets, including the United States and Japan. Recently, it diversified its business portfolio by acquiring the global peptide CDMO company Polypeptide Group for approximately 2.7 trillion won.However, union risks are expected to impact performance in the second half of the year. Starting in the third quarter, costs related to union strikes and wage negotiations are anticipated to affect profitability.Analysts view one-time costs resulting from labor negotiations as a key variable. If an agreement is reached that includes wage increases and bonuses, related labor costs could be reflected all at once. Some analysts warn that if wage increases exceed expectations, it could impact operating profit margins in the following year.Lee Ji-soo, a researcher at Daol Investment & Securities, noted, "The production disruptions and some batch disposal costs from the union strike in May are expected to be reflected in the third quarter." Jeong Yi-soo, a researcher at IBK Investment & Securities, explained, "The partial strike by the union from May 1 to May 5 caused some production delays, but the estimated revenue loss of about 150 billion won is expected to be recognized in the third quarter."Labor-management conflicts remain unresolved. Since the union initiated a full strike in May, it has been unable to narrow its differences with management. The company estimates that the strike has resulted in a revenue loss of approximately 150 billion won.The union is demanding an average base salary increase of over 14%, a bonus of 30 million won per person, and the distribution of 20% of operating profit as performance bonuses, along with the elimination of upper limits. In contrast, management has proposed a 6.2% increase in base salary and a one-time payment of 6 million won, indicating significant differences in their positions. Samsung Biologics stated that it is committed to resolving the labor-management conflict through dialogue. 2026-07-23 15:52:00
  • KOSPI Approaches 7,100 Mark Amid 2 Trillion Won Foreign Investment; KOSDAQ Rises 5%
    KOSPI Approaches 7,100 Mark Amid 2 Trillion Won Foreign Investment; KOSDAQ Rises 5% The KOSPI surged over 4% to near the 7,100 mark, bolstered by 2 trillion won in net purchases from foreign investors. Expectations for Alphabet's expansion in artificial intelligence (AI) investments fueled gains in semiconductor stocks, with buying interest also spreading to power equipment, secondary batteries, and biotechnology sectors.On July 23, the KOSPI closed at 7,096.89, up 299.19 points (4.40%) from the previous trading day. At one point during the session, it rose to 7,137.20, surpassing the 7,100 level.In the securities market, foreign investors led the index's rise with net purchases of 2.1351 trillion won, while institutions also bought 101.1 billion won. In contrast, individual investors sold a net 2.2107 trillion won.Most of the top market capitalization stocks saw gains. Samsung Electronics closed up 3.65% at 270,000 won, while SK Hynix rose 4.86% to 1,919,000 won. Other strong performers included LG Energy Solution (up 8.41%), Samsung Electro-Mechanics (up 7.66%), and Hyundai Motor (up 3.35%).Analysts attribute the positive sentiment to Alphabet's strong performance and increased capital expenditures (CAPEX), which have bolstered investor confidence in AI-related investments. Alphabet reported an 82% year-on-year increase in cloud revenue for the second quarter and confirmed its commitment to expanding data center investments.Lee Kyung-min, a researcher at Daishin Securities, stated, "Alphabet's robust cloud performance and CAPEX expansion reaffirmed strong demand for AI infrastructure and data center investments, supporting AI investment sentiment." He added, "Despite external uncertainties, foreign investors have continued net buying for four consecutive trading days, driving the index higher."The expectation of increased data center investments also boosted stocks related to power infrastructure. The need for enhanced power infrastructure has become apparent due to supply disruptions in power grids in areas densely populated with data centers in the U.S., leading to significant gains for companies like LS ELECTRIC and HD Hyundai Electric.The KOSDAQ index closed at 790.28, up 39.19 points (5.22%) from the previous trading day. Foreign and institutional investors net bought 133 billion won and 60.3 billion won, respectively, while individuals sold a net 198.5 billion won.Among the top KOSDAQ stocks, Alteogen surged 14.37%, while EcoProBM (up 9.95%), EcoPro (up 9.34%), ABL Bio (up 7.06%), and Rainbow Robotics (up 6.17%) also saw significant increases.Despite external uncertainties, including rising international oil prices, the market's gains were fueled by substantial foreign capital inflows and expectations for AI investments. With the KOSPI briefly surpassing the 7,100 mark, the sustainability of foreign buying and the performance of major domestic and international companies will likely determine future market movements.* This article has been translated by AI. 2026-07-23 15:48:00
  • Doosan Bobcat Reports 42.9% Increase in Q2 Operating Profit
    Doosan Bobcat Reports 42.9% Increase in Q2 Operating Profit Doosan Bobcat announced on July 23 that it recorded provisional results of 2.4479 trillion won in sales and 291.7 billion won in operating profit for the second quarter of 2026.Compared to the same period last year, sales increased by 11.2%, operating profit rose by 42.9%, and net profit grew by 63.9%. The company stated, "Sales increased due to price hikes despite some volume delays from system checks, and operating profit benefited from U.S. tariff refunds." They added, "Net profit was influenced by the rise in operating profit and a reduction in financial costs."In U.S. dollar terms, sales grew by 4% year-on-year to $1.63 billion, while operating profit surged by 34% to $195 million.By product category, sales in the compact equipment and industrial vehicle segments rose by 4% and 2%, respectively, while portable power sales returned to last year's levels. Doosan Mottrol, which produces hydraulic components, reported a 40% growth compared to the previous year.Regionally, sales in North America increased by 3% year-on-year, driven by effective pricing strategies and higher forklift sales. Europe, the Middle East, and Africa saw a 10% growth due to recovering demand for compact equipment and favorable exchange rates. However, sales in Asia, Latin America, and Oceania fell by 8% due to weak forklift sales, despite strong performance in South America, Oceania, and India.On the same day, Doosan Bobcat's board of directors decided to set the second-quarter dividend at 400 won per share. The company is implementing a plan to enhance corporate value, which includes a minimum annual dividend of 1,600 won and quarterly dividends.Additionally, Doosan Bobcat announced last month that it signed a memorandum of understanding with AI solution company Maum AI to develop autonomous operation technology for construction equipment.* This article has been translated by AI. 2026-07-23 15:44:00
  • Hedges Global Order Meeting Transforms with AI in Myeongdong
    Hedge's Global Order Meeting Transforms with AI in Myeongdong On July 23, at the LF Hedge flagship store 'Space H Seoul' in Myeongdong, Seoul, visitors passed through a mint-colored space inspired by London's Portobello Market to view the Spring/Summer 2027 collection, which featured vibrant pink, green, red, and orange displays. International buyers explored the exhibition using an AI digital lookbook instead of traditional Excel order forms. This innovative global order meeting by Hedge combines the story of Notting Hill in London with the essence of Seoul and an AI ordering system. Hedge is hosting its global order meeting for the Spring/Summer 2027 season at this location until July 7. The entire building, covering approximately 1,200 square meters, showcases over 800 products that Hedge plans to sell in the first half of next year. The theme for the season is 'Notting Hill - The Color of London.' Hedge emphasizes a 'brand experience order meeting' that presents both the brand's narrative and its clothing. Kim Hoon, Hedge's Global Creative Director, stated, "When we create not just the clothes but also the atmosphere and story, people can more easily embrace the collection. We naturally connected the collection to Seoul, the city that excites the younger generation, and Notting Hill in London." The exhibition begins with the vintage colors of the Portobello Market in the UK. As the season transitions from spring to summer, the materials become lighter and the colors more vivid. Prints created by the British fabric brand Liberty for Hedge incorporate the Hedge logo and the brand's symbol, the English Pointer. Korean elements are subtly integrated into the colors and materials rather than being overtly displayed. The iconic collection on the 1.5th floor features the traditional five colors of Korea. The denim line 'Hedge Blue,' showcased on the 2.5th floor, captures the transformation from undyed fabric to deep indigo. The curves of the traditional Korean moon jar are expressed in denim silhouettes, and patchwork pieces made from leftover fabric by master seamstress Park Young-ae are also featured.Hedge's business division head, Choi Woo-il, identified Hedge Blue as the next global strategic collection. He noted, "We see denim not just as a single item but as a material that can create a variety of products. In the long term, we aim to grow Hedge Blue to the extent that it could furnish an entire overseas store by itself."This order meeting marks the introduction of AI into Hedge's operations. Buyers can view complete outfits in the AI-generated digital lookbook, examine materials, prices, and sizes for each product, and input their order quantities. Once items are added to the cart, the orders are automatically totaled and sent through a B2B system. Choi emphasized, "We have ensured that the storytelling on-site translates directly into actual orders, simplifying product planning, evaluations, orders, and sales tasks." Hedge is also expanding its international market. After achieving sales of 1 trillion won last year, Hedge operates 600 stores in China, 18 in Taiwan, 9 in Vietnam, and 2 in Russia. The company is preparing to open its first store in Hong Kong in September and plans to enter Thailand and India next year. It is also seeking local partners in France and the Middle East. Ahn Yong-seok, head of the overseas business division, stated, "Hedge prefers local entry through partnerships rather than direct expansion, but we can consider joint investments or joint ventures if necessary."* This article has been translated by AI. 2026-07-23 15:40:00
  • Shinsegaes Personalized AI Recognized at Top Global Conference, Set for Retail Launch
    Shinsegae's Personalized AI Recognized at Top Global Conference, Set for Retail Launch Shinsegae Department Store's personalized artificial intelligence (AI) analysis technology, developed in collaboration with Seoul National University, has been recognized for its excellence at a leading global AI conference. On July 23, Shinsegae announced that its 'AI-based personalized customer analysis technology,' developed over a year with the university's Graduate School of Data Science, was accepted as a paper at the International Conference on Machine Learning (ICML) this month. This marks the first time a research outcome from a domestic department store has been included in ICML, a premier international academic conference where major tech companies and top university researchers present the latest AI technologies. For this research, Shinsegae processed approximately 200 million shopping data points from both online and offline sources into 'AI-ready data' to enable the AI to understand and learn independently. The technology models complex variables, including not just purchase history but also store visit patterns and preferred brands, laying the groundwork for precise connections between customers and products. With this technology, even when users open the same Shinsegae Department Store app, they will see completely different personalized screens. For instance, a 40-year-old man interested in sports might see travel packages for soccer matches and discounts on sports brands, while a 30-year-old woman who enjoys wine might receive recommendations for tours of Italian wine regions and limited-edition wine events at the top of her screen. Building on this achievement, Shinsegae plans to introduce an 'AI Sales Agent' in its retail operations early next year. This system will serve as a 'work AI assistant' that helps staff develop marketing and promotional strategies by analyzing customer characteristics and purchasing patterns in real time. Preliminary simulations based on this recommendation technology have shown that the average purchase amount per customer could increase by as much as 46%. Lee Seong-hwan, Executive Director of Sales Strategy at Shinsegae Department Store, stated, "In the future, Shinsegae will continue to enhance customer experience and retail innovation based on AI technology, strengthening data-driven decision-making to create a new retail paradigm." Meanwhile, the competition in AI among department stores is shifting from simple consultations and content creation to the decision-making stage in sales. Lotte Department Store is utilizing a conversational 'BI Agent' for customer analysis, while Hyundai Department Store has deployed an AI mentor named 'Hi,' trained on the work experiences of in-house experts. The introduction of Shinsegae's AI Sales Agent is expected to intensify the competition in customer analysis and product planning among the three major department stores.* This article has been translated by AI. 2026-07-23 15:40:00
  • Hanmi Group Sponsors 8th National Barista Competition for the Hearing Impaired
    Hanmi Group Sponsors 8th National Barista Competition for the Hearing Impaired Hanmi Group has announced its sponsorship of the 8th National Barista Competition for the Hearing Impaired. The company will support the introduction of a new creative menu category, aiming to enhance the professional skills and social opportunities for hearing-impaired baristas.The competition, organized by the Cheong-eum Welfare Center, is designed to discover the professional capabilities of hearing-impaired baristas and expand their employment and social participation opportunities.Any hearing-impaired individual capable of making coffee can participate in the competition. Applications are open until July 31, and participants can submit their applications via a QR code on the competition poster. The preliminary round will take place on September 19 at the Cheong-eum Welfare Center, with the finals scheduled for October 24 at the Ilwon Eco Park Center.The competition will feature a main category evaluating latte art skills and a new creative menu category utilizing 'Unsweetened Soy Milk.' This year, the introduction of the creative menu category reflects the growing demand for unsweetened plant-based beverages. Participants will showcase their menus using Hanmi Science's 'Unsweetened Soy Milk from Domestic Beans.' Outstanding participants will receive the 'Unsweetened Soy Milk Creativity Award.'Hanmi Group explained that through this sponsorship, it aims to support hearing-impaired baristas in developing not only coffee-making skills but also menu planning and development capabilities.Additionally, Hanmi Group has been actively engaged in social contribution activities to create stable working environments for people with disabilities and to promote their social participation. At the company's in-house café, 'Equal Garden,' six baristas, including those with severe hearing impairments and developmental disabilities, are employed, with support from a rehabilitation counselor for job management and adaptation.A Hanmi Group representative stated, 'The barista profession is evolving into a specialized field that requires high creativity and practical skills. We hope this sponsorship will help hearing-impaired baristas showcase their abilities and achieve independence as members of society.'Moreover, Hanmi Group continues its long-standing public service campaign, the 'Love Blood Donation Campaign,' which has been ongoing for 46 years, demonstrating its commitment to sharing life.* This article has been translated by AI. 2026-07-23 15:40:00
  • Samsung, Hyundai chiefs join Nvidia-led global AI forum advisory board
    Samsung, Hyundai chiefs join Nvidia-led global AI forum advisory board SEOUL, July 23 (AJP) - Samsung Electronics chairman Lee Jae-yong and Hyundai Motor Group chairman Chung Eui-sun have joined the advisory board of a global artificial intelligence (AI) forum led by Nvidia CEO Jensen Huang, U.S. digital media outlet Semafor reported on Wednesday. Along with more than 40 industry leaders including Amazon CEO Andy Jassy, Sony Group CEO Hiroki Totoki, and Citigroup CEO Jane Fraser, Lee and Chung were named to the advisory board for the inaugural "Silicon Valley & the World" forum, which will be held in Silicon Valley in November and bring together about 350 founders, CEOs, investors and policymakers from around the world. The forum aims to connect innovators developing transformative technologies with policymakers, business leaders and investors, providing a platform to share best practices and address future opportunities and challenges. Separately, Lee and Chung are scheduled to meet with Huang at a two-day AI summit in San Francisco this weekend. President Lee Jae Myung is also expected to attend the gathering during the U.S. leg of his multinational tour, which begins this Friday and lasts through Aug. 3, with stops including Argentina, Brazil, Chile and Germany. 2026-07-23 15:38:42
  • Kyungdong Navien Ranked First in Boiler A/S Service Quality for Eight Consecutive Years
    Kyungdong Navien Ranked First in Boiler A/S Service Quality for Eight Consecutive Years Kyungdong Navien has been recognized for its efforts to improve service quality in the A/S sector.On July 23, Kyungdong Navien announced that it has been ranked first in the home boiler A/S category for eight consecutive years in the customer contact survey conducted by the Korea Management Association Consulting (KMAC) as part of the Korean Service Quality Index (KSQI).As the first in the industry to operate a 24/7 phone consultation service, Kyungdong Navien has expanded customer contact through various channels, including its website and KakaoTalk chat. The company also provides real-time video consultations through its 'Navien Video Support' mobile app, allowing for more accurate and prompt guidance on troubleshooting and solutions.In 2023, Kyungdong Navien became the first in the boiler industry to receive the Consumer-Centered Management (CCM) certification for the seventh consecutive time, earning a place in the 'CCM Excellence Certification Hall of Fame.' The company continued this streak by obtaining the CCM certification again in 2025, marking its eighth consecutive certification.Recently, the company has enhanced the convenience and speed of customer consultations by integrating artificial intelligence (AI) technology. In 2021, Kyungdong Navien introduced the 'Navien AI Service,' which analyzes error codes when users upload photos of gas boiler indoor temperature controllers, providing self-help solutions tailored to the situation. In 2024, the company plans to establish an Intelligent Customer Center (AICC) to allow customers to access the 'AI Guide Ebot' chat service through the 'Navien House' online platform and mobile app for any inquiries.Additionally, Kyungdong Navien has been ranked first in the gas boiler category of the National Brand Competitiveness Index (NBCI) for seven consecutive years, recognized for its contributions to energy efficiency and environmental protection as the first in Asia to develop a condensing boiler.* This article has been translated by AI. 2026-07-23 15:36:00
  • KT CEO Park Yoon-young Considers Media Subsidiary Integration, Cautious on Tving-Wave Merger
    KT CEO Park Yoon-young Considers Media Subsidiary Integration, Cautious on Tving-Wave Merger KT CEO Park Yoon-young stated that he is contemplating the integration of the company's media subsidiaries.On July 23, Park spoke with reporters after a meeting with the Ministry of Science and ICT and the CEOs of the three major telecommunications companies at SK Telecom's T Tower in Seoul. He noted, "The times are changing, and we are considering this matter," adding that no specific decisions have been made.Earlier, there were speculations that Park was reviewing the integration of KT's media subsidiaries, including Genie Music and Millie's Library.Park also expressed caution regarding the potential merger of Tving and Wave. Concerns have been raised that KT Studio Genie, a major shareholder, has not agreed to the merger.In response, Park said, "We have not received any official requests," and emphasized the need to evaluate what position would benefit the industry, the company, and its partners, given the changing content market.Regarding Edge AI, Park highlighted the importance of infrastructure, stating, "KT has 3,500 local offices, which can be utilized as advanced data centers, or Edge AI." He added, "We will be the first to participate when the government launches pilot projects."* This article has been translated by AI. 2026-07-23 15:36:00