5/22/2021 Financial News: CCP Threatens To Cracking Down Bitcoin, Mainland-listed Real Estate Companies In HK Fell 30%

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1.CCP’s Financial Committee of the State Council Threatening To Cracking Down On Bitcoin Mining And Trading

On May 21st, Liu He, member of the Political Bureau of the CPC Central Committee, stated in the so-called Financial Stability and Development Committee meeting of the State Council: resolutely implement the CPC Central Committee’s deployment and “resolutely prevent and control financial risks.” He stated that he would “combat Bitcoin mining and trading behaviors, and resolutely prevent individual risks from being transmitted to the social field.” “Strictly guard against external risk impacts.”

Comment: This is a common evil trick of the CCP. The CCP is pushing forward it’s own digital currency DCEP in an attempt to control everyone’s wallet. At the same time, the CCP is very frightened of the power of H-coin and H-dollar, trying to form a deterrent by attacking Bitcoin.

2.The Average Market Value Of Mainland-listed Real Estate Companies In Hong Kong Fell By More Than 30% In 2020

The China Real Estate Report shows that in 2020, the growth rate of total assets of China’s Shanghai, Shenzhen and Mainland listed real estate companies in Hong Kong hit a record low in recent years. Over the same period, the average market value of listed real estate companies has dropped significantly. The growth rate of total assets in the real estate industry hit a record low in recent years. The overall valuation of the industry has declined. The report pointed out that in 2020, the average market value of Shanghai and Shenzhen’s real estate companies listed in Hong Kong was 18.46 billion yuan and 23.70 billion yuan, down 12.2% and 31.2% year-on-year.

3.CCP’s Top Official Claims: The Mid-to-long-term Rise In Commodity Prices May Have Formed, And The RMB Can Be Moderately Appreciated To Resist

Officials of the Central Bank of the CCP, the recent rise in commodity prices has aroused widespread concern, and the global economic recovery and loose monetary environment are the main driving forces for price increases. He said that short-term demand expansion is limited and supply elasticity is greater. The gap between supply and demand may be repaired, but the mid-to-long-term upward trend in prices may have taken shape. The CCP’s media stated that it is recommended to adhere to a prudent monetary policy, to appropriately appreciate the RMB, and to resist import effects.

Comment: The commodity prices are controlled by the CCP, so beware of being manipulated and scammed by the so-called expert.

4.Zhou Xiaochuan Claimed That Digital Rmb R&D Should Not Be Much Connected With RMB Internationalization

On May 20th, Zhou Xiaochuan, vice chairman of the Boao Forum for Asia, said, “Don’t link the digital RMB development plan with the internationalization of the renminbi too much. Instead, pay more attention to improving the efficiency of retail projects and recurring projects.” He claimed that the difference between digital currency and encrypted currency is that the central bank’s digital currency is initiated by the central bank and assumes the function of legal tender. However, encrypted assets such as Bitcoin are more of an investable asset and cannot be regarded as a currency with stored value issued by the central bank.

5.The Hong Kong Government Plans To Enact Regulations Governing Virtual Asset Service Providers To Only Provide Services To Professional Investors

Hong Kong said on Friday that service providers that will legislate to regulate virtual assets can only provide services to professional investors and expect to submit the amendment bill to the Legislative Council for deliberation in the 2021/22 legislative year. The government recommends that licensed virtual asset service providers can only provide services to professional investors. The Hong Kong government proposes to make the license of virtual asset service providers an open license, and prohibit non-licensed virtual asset service providers from actively promoting regulated virtual asset activities or similar activities in other places to the Hong Kong public in Hong Kong or overseas.

6.S&P 500, Dow Extend Recovery After Strong U.S. Business Surveys

The S&P 500 and the Dow rose on Friday, extending a recovery from the previous session, as strong U.S. factory and services activity surveys lifted the mood at the end of a volatile week of trading. Wall Street’s main indexes gained ground on Thursday following a three-day slump after data showed the fewest U.S. weekly jobless claims since the pandemic-driven recession in 2020, pointing to a pick up in the labor market. Despite weakness on Friday, the Nasdaq is on course to snap a four-week losing streak as investors this week returned to tech-related mega-cap shares, which recently took the biggest hit on inflation worries. The S&P index recorded 24 new 52-week highs and no new low, while the Nasdaq recorded 97 new highs and 13 new lows.

By 【Financial Team – 雪梨Cheli】
News Collection: Totoro

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