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Chinese premier chairs meeting on carbon reduction, administrative law enforcement

China

China

China

Chinese premier chairs meeting on carbon reduction, administrative law enforcement

2025-12-06 04:22 Last Updated At:05:17

Chinese Premier Li Qiang on Friday presided over a State Council executive meeting which studied further arrangements on energy conservation and carbon reduction, and heard a report on a special campaign on business-related administrative law enforcement.

The meeting also reviewed and approved a draft regulation on administrative law enforcement oversight, discussed a draft law on firefighters, and arranged work for a crackdown on tobacco-related illegal activities.

The meeting emphasized the need to ensure higher-standard and better-quality work in the fields of energy conservation and carbon reduction -- work which must be advanced with greater overall planning efforts and in light of local conditions.

To that end, the meeting called for efforts to maximize the impact of policies, continuously improve market mechanisms, and accelerate the transition to green production and green lifestyles.

A special campaign on regulating business-related administrative law enforcement this year has achieved positive results, the meeting noted, underlining further efforts to enhance the standardization of administrative law enforcement.

By drafting and implementing the regulation on administrative law enforcement oversight, the boundaries and responsibilities of law enforcement authorities will be clarified further, and administrative power will be upheld consistently within a legal framework, it said.

It discussed and approved in principle a draft law on firefighters, which will be submitted to the Standing Committee of the National People's Congress for deliberation.

It is imperative that the institutional arrangements for the country's firefighting force are improved, making it more standardized and professional, the meeting said, stressing the need to consolidate fire safety management, and to resolutely prevent and curb serious or major fire accidents.

Work will also be done to crack down strictly on tobacco-related illegal activities, strengthen supervision and law enforcement across all links, and improve the tobacco market environment, according to the meeting.

Chinese premier chairs meeting on carbon reduction, administrative law enforcement

Chinese premier chairs meeting on carbon reduction, administrative law enforcement

Moore Threads Technology Co., Ltd., a leading Chinese graphics processing unit (GPU) developer, saw its share price surge by more than 400 percent as it made its debut Friday on the Shanghai Stock Exchange's STAR Market, China's Nasdaq-style Science and Technology Innovation Board.

Offered at 114.28 yuan (about 16.15 U.S. dollars) per share in its initial public offering (IPO), Moore Threads Technology Company opened at 650 yuan and peaked at 688 yuan on Friday, up 502 percent. By market close, its share price stood at 600.50 yuan, up 425.46 percent.

The bids received exceed the entire market capitalization of U.S. industry leader Nvidia.

Moore Threads was founded in 2020 by former Nvidia China head James Zhang Jianzhong. The company specializes in developing universal GPU chips and related products that support combined workloads, including AI computing acceleration, 3D graphics rendering, ultra-high-definition video encoding, physical simulation, and scientific computing.

The company completed its entire IPO process in only 122 days, from the acceptance of its application on June 30 to the completion of registration on Oct. 30.

The successful IPO comes despite the company having been placed under U.S. sanctions in 2023.

Chinese GPU developer sees stock price surge on market debut

Chinese GPU developer sees stock price surge on market debut

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