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Starting from July 20, 2023, China has implemented a new luxury car consumption tax policy, lowering the tax threshold from 1.3 million yuan to 900,000 yuan. This policy change has had a significant impact on the high-end automobile market, with multiple luxury models now falling under the new taxation range. The affected vehicle models include the Mercedes-Benz S-Class, GLS series, Maybach S480, BMW X7, Land Rover Range Rover, Porsche Cayenne and 911, as well as the Hongqi brand's H800, among others. The invoice prices of these models mostly fall between 1,017,000 and 1,469,000 yuan, all of which will face additional tax burdens. In response to policy changes, several automobile manufacturers have quickly introduced short-term promotional measures. Brands such as Jaguar Land Rover, Mercedes-Benz, and Tesla have launched limited-time subsidy policies to alleviate the purchasing pressure on consumers. However, the validity period of these promotional measures is generally short, reflecting manufacturers' cautious attitude towards market changes. It is worth noting that the introduction of the new policy seems to have stimulated the enthusiasm for car purchases among some high-net-worth individuals. Interestingly, some investors who have profited in the cryptocurrency market have also recently joined the ranks of luxury car orders, possibly to complete their purchases before the new policy is fully implemented. This policy adjustment not only affects the pricing strategy of the luxury car market but may also have a profound impact on consumers' vehicle purchasing choices. With the lowering of the tax threshold, some models that were previously not considered 'luxury cars' now face additional taxes, which could change consumers' definitions of luxury cars and their purchasing decisions. In the future, automobile manufacturers may need to reconsider their product positioning and pricing strategies to adapt to the new market environment. At the same time, this policy may also drive the automotive industry toward a more environmentally friendly and intelligent direction, as consumers may pay more attention to the practicality and cost-effectiveness of vehicles, rather than just the brand and luxury level.

Starting from July 20, the luxury car tax threshold in our country has been lowered from 1.3 million yuan to 900,000 yuan. This means that models with an invoice price ranging from 1.017 million to 1.469 million, such as the S-Class, GLS, Maybach S480, BMW X7, Range Rover, Porsche Cayenne, 911 Pu Ka, and the Zenith S800, will be included in the taxable range. Many car manufacturers have quickly responded by launching limited-time subsidy policies, including Jaguar Land Rover, Mercedes-Benz, Tesla, etc., but the subsidy periods are relatively short. I was wondering why the bosses who make money in the crypto world have been secretly ordering cars lately, hhh.

Abstract 1. BTC fluctuates narrowly around $105,000; $2,500 serves as a short-term support level for ETH. 2. The Federal Reserve continues to keep interest rates unchanged, expecting to cut rates twice in 2025. 3. The net asset value of the Ethereum spot ETF has exceeded $10 billion. 4. Over 20,000 Bitcoin addresses hold a value of over $10 million, accounting for nearly 9.43% of the total BTC supply. 5. Ethereum staking volume exceeds 35 million coins, setting a new historical high. 6. Gate Launchpool launches SPK, with a total prize pool of 720,000 SPK. Market Interpretation Market Commentary - BTC Market —— Last week, BTC was significantly impacted by the geopolitical situation in the Middle East, falling to a low of 103,000 USD.

#GLS#

From April 25 to May 12, the Crypto Assets market performed strongly, with ETH rising over 60%, significantly higher than BTC. Analysis shows that market sentiment is increasingly divergent, while the 'Moving Average Convergence Strategy' achieved an annualized return of 127% on ETH, significantly outperforming the holding strategy, demonstrating good trend capture and risk control capabilities.