10/11/2021 Financial News In China: CCP To Ban All Private Media;60 Coal Mines Suspended Due To Flooding In Shanxi

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1. CCP to Ban All Private Media

The CCP has once again intensified its control over public opinion, attempting to block all real information. On October 8, the CCP’s Development and Reform Commission issued the “Negative Market Access List (2021 Edition),” which stipulates that non-public capital shall not engage in news collection, editing, broadcasting and distribution; shall not invest in the establishment and operation of news organizations, including but not limited to news agencies, newspapers and periodicals, radio and television, as well as inter-network news collection and distribution services. Non-public capital is also prohibited from operating the pages, channels, public accounts, etc. of news organizations; introducing news published by overseas entities; and organizing forums, summits and awards in the field of news and public opinion.

2. 60 Coal Mines Suspended Due to Flooding in Shanxi

As of October 8, 60 coal mines in Shanxi province have been shut down due to heavy rainfall, raising concerns about coal prices again. From October 2 to October 7, the maximum precipitation in Shanxi province exceeded 250 mm. And the average precipitation in Shanxi is only 25 mm in October, that is, the rain that fell in just six days is 10 times the monthly average. Shanxi has always been a large province of coal resources. And in 2020, it became the second province in history to produce more than 1 billion tons per year, and its output surpassed that of Inner Mongolia, regaining its position as the top coal-producing province. Shanxi and Inner Mongolia produced 1.063 billion tons and 1.001 billion tons respectively, with the two provinces accounting for 53.7% of the country’s output.

3. Gas and Diesel Prices Increase Significantly

The National Development and Reform Commission said on the 9th, according to the recent changes in oil prices in the international market and in accordance with the current price formation mechanism for refined oil products, the domestic gasoline and diesel prices will be increased by 345 yuan and 330 yuan per ton respectively from 24:00 on October 9, 2021, equivalent to an increase of nearly 0.3 yuan per liter.

4. Four Sub-Provincial Cities in Northeast China Introduce Preferential Housing Policies for Talent

On Oct 10, Harbin official WeChat release news, the relevant departments recently developed “on the promotion of the city’s real estate market stable and healthy development of the implementation of the advice”, outstanding talent in Harbin City to purchase the first house can get up to 100,000-yuan subsidy. The reporter noted that, in addition to Harbin, the other three major sub-provincial cities in the northeast Shenyang, Dalian, Changchun have also previously introduced preferential policies related to the purchase of housing for talent.

5. Beijing’s First Batch of Public Rental Housing for Multi-Child Families Starts House Selection

The Chaoyang District of Beijing recently opened a housing selection for families with many minor children on the waiting list in 2021, which is the first batch of public rental housing directly allocated to families with many children in Beijing. In August this year, the Beijing Municipal Housing and Construction Commission issued the Notice on Strengthening the Management of Public Rental Housing Eligibility Review and Allocation, stating that in order to implement the policy of encouraging childbirth, families on the waiting list with a large number of minor children can be given priority in the allocation of public rental housing. According to statistics, there are nearly 3,000 families with two or more minor children among the families waiting for public rental housing in Beijing. These families can be included in the direct allocation model of public rental housing, and can directly select housing without having to go through the process of registration, lottery, etc.

6. Cobalt Rises Nearly 60% in One and a Half Years

Data show that as of Oct. 8, the domestic spot cobalt price had risen from a low of less than 240,000 yuan per ton in April last year to more than 380,000 yuan per ton, an increase of nearly 60 percent. The International Energy Agency expects cobalt demand to increase about 20 times by 2040 compared to 2020. In addition, analysis by Bank of America Global Research Center points out that cobalt shortage may become an important constraint for power battery production in the future.

7. Zijin Mining to Acquire Neo Lithium in All-Cash Offer

On October 10, Zijin Mining announced that it had signed an agreement with Neo Lithium Corp. listed on the Canadian Stock Exchange to acquire 100% of the issued and outstanding common shares of Neo Lithium Corp. at a price of C$6.50 per share in cash, a transaction amounting to approximately RMB4.939 billion. According to the information, CATL holds 8% equity interest in Neo Lithium. The core assets of Neo Lithium are the Tres Quebradas Salar (“3Q”) lithium salt lake project located in Catamarca Province in northwestern Argentina.

8. Meituan was Exposed for Tracking Users 24/7

A video on Weibo shows the behavior of the iOS version of the Meituan App’s continuous 24-hour uninterrupted positioning, and netizens said, “it’s horrible”. From the video, Meituan App started to get location information from October 6, and the frequency was as high as once every 5 minutes. This behavior continued until the afternoon of Oct. 8, without interruption, and the frequency of requesting once every 5 minutes was maintained from the beginning to the end. The Meituan AppID function includes taxi, take-out, check merchants, etc. The location function is only required when the user is using it. And the video shows that the Meituan App also obtains location information without interruption in the early morning hours. The video owner said that he did not know about it before, and this time it was found through a third-party App.

By【G Translators- Financial Team】
Author: Rosy Cloud

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