1.CCP Considers Supporting Huarong with Central Bank Funds
(Bloomberg) CCP is considering a plan that would see the central bank assume more than 100 billion yuan of assets from China Huarong Asset Management helping the state-owned company clean up its balance sheet and refocus on its core business of managing distressed debt, people familiar with the matter said.
Under a proposal that’s still being finalized and could change, a unit of the People’s Bank of Communist China would assume assets from some of Huarong’s unprofitable operations, the people said, asking not to be identified as the discussions are private.
2.CCP’s 2021 Catalogue of Green Bond is released; Coal Has been Ruled out
(CISION) The CCP authorities released the Green Bond Catalogue (2021 Edition) and high-carbon emission projects such as coal have been ruled out. Ping An Insurance (Group) Company of China announces that it has issued “A Letter from Ping An to the Earth”, announcing a comprehensive upgrade of green finance activities and setting quantitative green finance performance targets. Through its financial product and service innovations, Ping An will support CCP’s goal of achieving carbon neutrality by 2060, help combat global climate change, and promote sustainable social development.
Comments: Communist China’s banks are trying to exit the coal industry. Coal-fired power plant projects face higher debt and refinancing costs. Who will pay for the so-called clean climate costs is absolutely as always, CCP private companies and individual taxpayers.
3.Tesla Comes under Growing Pressure after Customer Complaint
(Reuters) Tesla Inc came under increased pressure in Communist China on Wednesday from regulators and state media after Monday’s protest by a disgruntled customer at the Shanghai auto show went viral and forced the electric car maker into a rare apology. The singling-out of Tesla in Communist China, which accounts for 30% of the U.S. firm’s global sales and where it makes cars at its own factory in Shanghai, comes amid ongoing U.S.-Communist China tensions and as other foreign firms have encountered backlash. “Communist China will continue to open up its market to foreign business, but that does not mean foreign companies will be offered any privilege,” the Global Times, a tabloid published by the ruling Communist Party’s official People’s Daily, said in an opinion piece on the “Tesla blunder”.
Comments: The CCP government is in control of everything including the people, therefore, making money in Communist China, you have to surrender your dignity, even forever.
4.Electric Car Companies Target Expansion in Europe while Competition Heats up in Communist China
(CNBC) After the last year of growth in the world’s largest auto market, Communist China’s electric car start-ups are stepping up plans to take on Europe. The Chinese start-ups’ venture overseas comes as the local market heats up. Nio’s Qin said the entry of tech companies like Apple and Huawei into the industry are creating fierce competition for the car maker. On the automobile front, Tesla leads the market and is ramping up local production. Its Model 3 was the best-selling electric car in Communist China last year, according to the Communist China Passenger Car Association. Excluding two mini-electric cars, the association said the next best-selling vehicle in the category was the S model from Aion, a new energy brand spun-off from Communist China’s state-owned automaker GAC. A more expensive model from Nio ranked ninth, while Xpeng didn’t make the top ten list.
5.Swedish Court to Hear Huawei’s Case against 5G Ban
(Reuters) A Swedish administrative court starts hearing arguments from Wednesday in a case filed by Huawei Technologies against the country’s telecom regulator for banning the Communist China company from its 5G networks. Sweden’s telecom regulator PTS in October banned the Communist China companies from rolling out 5G, citing security risks. It gave telecom operators taking part in 5G auctions until Jan. 1, 2025 to remove Communist China gear from their infrastructure and core functions.
The court will hear arguments from both parties from Wednesday to Friday. A Swedish court had allowed PTS to conduct 5G auctions, but also said Huawei could pursue a legal challenge over its exclusion. PTS finished the auctions in January. It was unclear if the auction results would face any legal challenge if the court ruled in Huawei’s favor.
6.U.S. Lawmakers Intensify Bipartisan Efforts to Counter Communist China
(Reuters) – A bipartisan U.S. congressional push to counteract Communist China picked up steam on Wednesday as a Senate committee overwhelmingly backed a bill pressing CCP on human rights and economic competition and other lawmakers introduced a measure seeking billions for technology research. The committee added dozens of amendments to the bill. One would force a boycott of the 2022 Beijing Olympics by U.S. officials, not athletes, which was also recommended by the U.S. Commission on Religious Freedom.
“With this overwhelming bipartisan vote, the Strategic Competition Act becomes the first of what we hope will be a cascade of legislative activity for our nation to finally meet the Communist China challenge across every dimension of power, political, diplomatic, economic, innovation, military and even cultural,” said Senator Bob Menendez, the Democratic chairman of the Senate panel. He and Senator Jim Risch, the panel’s top Republican, wrote the “Strategic Competition” measure together, with Risch saying it was “truly bipartisan.”
By 【Financial Team – Apple】