09/01/2021 Financial News: A Pricing Reference for Resale Homes Introduced in Guangzhou; 150,000 Tons of Copper, Aluminum and Zinc Reserves Was Released

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1.A Pricing Reference for Resale Homes Introduced in Guangzhou

The “reference price of second-hand housing” discounts were released, and the Guangzhou property market entered the downward trend. On August 31, Guangzhou Bureau of Housing and Urban-Rural Development issued the “Notice on Establishing a Reference Price Release Mechanism for Second-hand Housing Transaction”. The first batch of communities that released reference prices for second-hand housing transactions totaled 96. The price difference is about 3-5 percent, all of which are less than 100,000 yuan per square meter. The highest unit price is Poly Xinyu Garden in Tianhe District. The reference price is about 97,000 yuan/square meter. The listed price of shells is generally higher than 150,000 yuan/square meter. The latest transaction price is about 144,000 yuan/square meter.

2.”Memorandum of Cooperation on Promoting the High-Quality Development of Overseas Economic and Trade Cooperation Zones”

On September 1, 2021, the Ministry of Commerce and the Hong Kong Special Administrative Region Government jointly signed the “Memorandum of Cooperation on Promoting the High-quality Development of Overseas Economic and Trade Cooperation Zones” (hereinafter referred to as the “Memorandum”). According to the “Memorandum”, the two sides will give full play to the role of the task force for Hong Kong’s participation in the “Belt and Road” construction cooperation under the mechanism of the Mainland and Hong Kong Economic and Trade Cooperation Committee, and use the respective advantages of the Mainland and Hong Kong to promote the depth of the enterprises of the two places and overseas economic and trade cooperation zones and host countries. Cooperation to achieve mutual benefit and win-win results.

3.Mobile Communication Network IMS Network Interconnection Organization Completed

According to the news on the official website of the Ministry of Industry and Information Technology on September 1, in order to adapt to the evolution trend of telecommunications network architecture, meet the needs of inter-network traffic interconnection in the 5G era, and promote the innovative development of telecommunications services, on August 21, 2021, the IMS network of the mobile communication network all realized IP-based interconnection. The network runs smoothly, the business indicators are normal, and the service quality is in line with expectations.

4.The Central bank Launched a 10 Billion Yuan Reverse Repurchase, with a Net Return of 40 Billion Yuan

The CCP Central Bank announced on September 1 that, in order to maintain a reasonable and sufficient liquidity in the banking system, a 7-day reverse repurchase operation of 10 billion yuan was carried out by way of interest rate bidding, and the winning interest rate was 2.20%. Given that 50 billion yuan of reverse repurchase expires today, a net return of 40 billion yuan in a single day.

Yesterday, the Shanghai Interbank Offered Rate (Shibor) rose 34.9 basis points overnight to 2.195%. The weighted average interest rate of DR007 dropped to 2.3826%, and the reverse repurchase rate (GC001) of the one-day treasury bond on the Shanghai Stock Exchange dropped to 3.075%.

5.150,000 Tons of Copper, Aluminum and Zinc Reserves Was Released Today

In order to ease the pressure of the inflation on raw materials for enterprises production, on September 1, the CCP State Bureau of Grain and Material Reserves released the third batch of national reserves of copper, aluminum, and zinc, totaling 150,000 tons. In the near future, the State Bureau of Grain and Material Reserves will continue to carry out follow-up releases based on market supply and demand and price trends.

6.The Turnover of the National Futures Market in August Exceeded 52 Trillion Yuan

The latest statistics from the China Futures Industry Association show that on a unilateral basis, the national futures market turnover in August was 639.17 million lots, with a turnover of 52.22 trillion yuan, an increase of 15.88% and 13.61% year-on-year, respectively, and a month-on-month increase of 3.52% and respectively. 4.94%. From January to August this year, the cumulative trading volume of the national futures market was 4,972.87 million lots, and the cumulative trading volume was 388.32 trillion yuan, an increase of 36.58% and 51.18% year-on-year respectively.

7.Xiaomi Automobile Was Officially Established

On September 1, Xiaomi Automobile Co., Ltd. officially completed the industrial and commercial registration with a registered capital of 10 billion yuan. The legal representative of the company is Lei Jun. Xiaomi announced that the car-making project is officially on the fast track. The current team has about 300 people.

Lei Jun said: “Xiaomi’s technological advantages in artificial intelligence, new materials and other fields will form a strong support for the automotive business. The team has conducted a large number of user surveys and industry chain inspections, more than 2,000 surveys and interviews, and also acquired autonomous driving technology companies. Shendong Technology focuses on enriching the power of automotive-related technologies and personnel.”

8.The Latest Digital Renminbi Tech Will Be Unveiled at the 2021 Service Trade Fair

The “black technology” behind the digital renminbi will be showcased at the Service Trade Fair. The 2021 China International Service Trade Fair Financial Services Special Exhibition will be held in Beijing Shougang Park from September 3 to 7. Ziguang Guowei, Huada Electronics, Hengbao Co., Ltd. and other institutions have joined forces to create a “Digital Finance Demonstration Zone.” It is said that Hengbao, the representative of domestic enterprises providing technical solutions and intelligent hardware for digital RMB, will focus on digital RMB application products and scenario solutions at Trade Fair.

【G Translators- Financial Team】
Author: 和理非

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