1.March CPI Rose From a Year-on-Year Decline to a Year-on-Year Rise in the Second Quarter or a Moderate Rise
The National Bureau of Statistics recently released the national CPI (Consumer Price Index) data for March. From a month-on-month perspective, due to the seasonal fall in demand after the Spring Festival, the CPI went from a 0.6% increase last month to a 0.5% decrease. From a year-on-year perspective, due to the significant weakening of the negative impact of tail-lifting, the CPI went from a 0.2% drop last month to a 0.4% increase. In the first quarter, the national consumer prices were the same as the same period last year. Looking ahead, the industry believes that the year-on-year increase in CPI may rise in the second quarter. The annual CPI has shown a moderate increase year-on-year, and prices have generally remained stable.
2.CCP Extends Crackdown on Jack Ma’s Empire With Enforced Revamp of Ant Group
CCP has imposed a sweeping restructuring on Jack Ma’s Ant Group, the fintech conglomerate whose record $37 billion IPO was derailed by regulators in November, underscoring Beijing’s determination to rein in its internet giants. The overhaul, in the works for several months, includes Ant turning itself into a financial holding firm, a move expected to curb its profitability and valuation by curtailing some of its freewheeling businesses.
The overhaul, directed by Communist China’s central bank, subjects Ant to tougher regulatory oversight and capital requirements, and requires it to cut links between its hugely popular payments app Alipay and its other businesses – which had been viewed as a big advantage due to Alipay’s vast trove of customer data. “This restructure effectively splits Ant into a few independent businesses to stop Alipay from being a super app capable of controlling the day to day lives of the Chinese people,” said Lightstream Research analyst Oshadhi Kumarasiri, who publishes on the Smartkamra platform.
3.This Year’s Convertible Bond Financing Will Exceed 100 Billion Yuan
Before half of April, this year’s convertible bond market financing will exceed 100 billion yuan. On April 12, online purchase of 5 billion yuan convertible bonds of Bank of Suzhou and 1.55 billion yuan convertible bonds of Donghu hi tech will be launched. Once the issue is successful, this year’s convertible bond market financing amount will temporarily exceed the IPO Financing. In the view of market participants, the frequent start of convertible bond financing by listed banks is an important reason for the explosion of convertible bond issuance this year. Combined with the issuance of convertible bonds by the Bank of Suzhou this week, the listed banks will raise 40 billion yuan through convertible bonds.
4.15 Batches Of Yonghui Supermarket Food Samples Failed To Pass The Random Inspection
As a large local enterprise in Fujian province, Yonghui supermarket but in the base camp frequently overturned. In the first quarter of this year, Yonghui supermarket in Fuzhou, Putian, Longyan and many other stores in a total of 15 batches of food sampling unqualified. Yonghui supermarket in these 15 batches of substandard food, grass, ice squid, crab and other aquatic products random inspection unqualified times up to 8 times, random inspection unqualified items involving Ofloxacin, enrofloxacin, cadmium and so on.
On April 12, Yonghui Supermarket Secretary Zhang Jingyi told the China Securities News reporter that 15 batches of varieties are very small, depending on the total number of proportion. Netizens said: Why can you be so arrogant? After the response came out, Yonghui Supermarket’s decline intensified in the afternoon, and it fell to 6.58 yuan per share, a record low for its share price in more than two years. Finally closed down 1.78% to 6.62 yuan per share.
5.The Ministry Of Commerce Has Made Multiple Plans To Stabilize Foreign Trade And Foreign Investment
The year 2021 will be the “year of innovation and development of foreign trade”, and three major plans will be implemented, including preferential import and export, integration of trade industries and smooth trade. Do a solid job in foreign trade throughout the year, consolidate the foundation for stabilization, and enhance the ability of foreign trade services.
The first is to serve the overall situation of the country’s development, serve major strategies such as the “Belt and Road” initiative, and continue to deepen international economic and trade cooperation. The second is to tap potential with scientific and technological innovation and stimulate vitality with institutional innovation. The third is to make good use of the policies that have been issued and pay close attention to changes in the foreign trade situation and the difficulties encountered by enterprises.
6.EU Sets Provisional Tariffs 19.3% to 46.7% on Communist China Alu Products
The European Union imposed provisional tariffs on imports of aluminum flat-rolled products originating in Communist China in a bid to curb competition for EU-based producers. The duties punish Chinese exporters of aluminum flat-rolled products for allegedly selling it in the EU below cost, a practice known as dumping. Their rates are between 19.3% and 46.7% depending on the exporter, according to the EU’s official journal. The duties, due to take effect on Tuesday, will last for six months and may be prolonged for five years.
By 【Financial Team – Tracy】
News Collection: Wendy