4/26/2021 Financial News: Ant Group joined Digital RMB Platform, Communist China’s FDI increased by 4.6%

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1.Ant Group to Work with Communist China’s Central Bank on Building Digital RMB Platform

(Yicai) The Communist China Central Bank’s Digital Currency Research Institute and Ant Group Signed a technical strategic cooperation agreement on April 25 at the Digital Construction Summit. The two parties will jointly move forward building a technical platform for the digital RMB based on the distributed database OceanBase and the mobile development platform mPaaS.

The current digital RMB has been promoted to 10 pilot cities including Shanghai, Hainan, Changsha, Xi’an and the Beijing Winter Olympics venue. Li Bin said digital RMB now covers many areas such as living payment, catering services, transportation, shopping and consumption, and government services. It is said that mPaaS is derived from Alipay’s mobile development platform, which can provide a cloud-to-end one-stop solution based on mobile development, testing, operation, and operation and maintenance.

2.Communist China’s FDI increased by 4.6% in the first quarter

The Ministry of Commerce of Communist China data shows Foreign Direct Investment was 206.14 billion yuan, a YOY increase of 4.6% in the first quarter of 2021.

Foreign non-financial direct investment was 160.81 billion yuan, a YOY drop of 4.9%. The volume of foreign contracted projects was 195.31 billion yuan, almost the same as the same period last year; the newly signed contract value was 347.24 billion yuan, a YOY decrease of 10.2%. 74,000 workers were dispatched for foreign labor service cooperation, and 590,000 people were still abroad for service at the end of March.

3.Intellectual Property financing reached 218 billion yuan, increase by 43.9%

In 2020, the total amount of intellectual property financing in Communist China reached 218 billion yuan, a YOY increase of 43.9%. It is said that many small and medium-sized enterprises have benefited from IP financing, especially technology-based SOEs.

Intellectual property insurance products are developed and launched. According to rough estimation, in 2020, the relevant insurance coverage exceeded 20 billion yuan and covered more than 4,000 companies.

In addition, intellectual property securitization is under trial. Up to now, a total of 25 intellectual property securitization products have been issued with an amount of more than 7 billion yuan.

4.Huawei pivots to software with Google-like ambitions as U.S. sanctions hit hardware business

(CNBC)Huawei is boosting its efforts in software areas like cloud computing and smart cars as U.S. sanctions hurt its hardware business.

Last week, Arcfox, a brand under automaker BAIC Group, launched a car with Huawei’s vehicle technology. It included a cockpit kitted out with HarmonyOS, the operating system Huawei launched in 2019, as well as autonomous driving capabilities. Huawei has also touted its HarmonyOS as being able to work across different devices from smartphones to TVs and cars. And on Sunday, Huawei launched some new cloud computing products.

Huawei said in a press release that it hopes the focus on cloud will “eventually increase the proportion software and service business has in total revenue mix.”

The pivot to software comes after U.S. sanctions on Huawei have caused smartphone sales to plunge. Last year, Washington moved to cut Huawei off form key semiconductor supplies.“Huawei is doubling down on pivoting to a software/cloud and services company,” Neil Shah, research director at Counterpoint Research, said. He also mentioned: “Huawei with this effort is becoming like Google”.

5.For property developers, Hong Kong is becoming Shenzhen’s backyard

Chinese property developers have turned their sights to Hong Kong’s border districts as mainlanders from neighboring boom town Shenzhen consider parts of the former British colony as a more affordable long-term housing prospect. The development plans are seen by some as a turning point, with buyers from what was once considered Hong Kong’s cheaper industrial hinterland increasingly viewing of the global finance hub as Shenzhen’s “backyard”.

According to realtor Midland, mainland Chinese bought 40% more residential properties in Hong Kong in the first two months of 2021 than a year ago, boosted by optimism that the border will reopen as the COVID-19 crisis eases. The percentage of mainland buyers of new Hong Kong homes bottomed in the second quarter last year at 8.7% of transaction volumes, and rose to 11% in the first quarter this year.

Comments: Once the Media begins to promote Shenzhen property, maybe it is the time to consider whether to sell it.

6.Twitter Admits to Censoring Criticism of The Indian Government

On Saturday, Twitter admitted that it is actively working with the Indian government to censor criticism of its handling of the pandemic as the number of cases and deaths continues to skyrocket. There are widespread reports that the Indian government has misrepresented the number of deaths and the true rate of cases could be as much as 30 times higher than reported.

With the support of many Democratic leaders in the United States, Twitter now regularly censors viewpoints in the United States and India had no trouble in enlisting it to crackdown on those raising the alarm over false government reporting. Columbia Journalism Dean and New Yorker writer Steve Coll has denounced how the First Amendment right to freedom of speech was being “weaponized” to protect disinformation.

Twitter is now unabashedly and unapologetically a corporate censor. The question is whether the public will remain silent or, as some, actually embrace the new Orwellian order of “robust content modification.”

By 【Financial Team – Apple】

News Collection: Totoro

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