1. Consumer Products Price Increase: From Pork, Soy Sauce to Roasted Seeds
Since October, hog prices have rebounded by nearly 50%. Yesterday, hog prices rose sharply again, with many places seeing hog prices rise by 1-1.65 yuan/kg. Recently, several downstream consumer leaders announced price increases, including not limited to ChaCha Food, Haitian Food, Dongpeng, Orion, etc. On the evening of October 12, Haitian Food announced that the factory prices of some products such as soy sauce, oyster sauce and sauces were adjusted, with price increases ranging from 3% to 7% for major products. On October 22, Chacha Food also issued a price increase announcement. Starting from 22, the price of each category increased by 8%-18%.
2. SSE to release CSI Carbon Neutral Index and related ETF products
On October 24, Liu Ti, deputy general manager of the Shanghai Stock Exchange (SSE), said that the SSE will comprehensively promote green finance and ESG sustainable development. Liu Ti introduced that at present, SSE has listed a total of 38 new energy and environmental protection companies, with IPO financing amounting to nearly 40 billion yuan. More than 60% of the companies listed in SSE have disclosed relatively comprehensive ESG information, and about one-third of listed companies have disclosed social responsibility reports. SSE and CSI have jointly released more than 50 green investments indices. SSE will soon release CSI Carbon Neutral Index jointly with Shanghai Environmental Energy Exchange and will develop related ETF products.
3. Tenants: High Cost, Low Availability, Unstable Rental Relationship
According to the data of the seventh national census, the floating population in Communist China is 376 million in 2020, and many of them need to rent a room to live. Large number of interviewees said facing high rental costs, few available sources, less stable rental relationships and other problems in big cities, and the pressure is high. Experts believe that these problems reflect the contradiction between supply and demand in terms of rental market, whether it is market-based rental housing or guaranteed rental housing, which is generally difficult to meet the needs of social development. The rental market currently has structural problems, in terms of rights and obligations, tenants are in a relatively weak position in terms of informed information, transaction status and transaction form.
4. CDRC to Call a Meeting with Some Real Estate Companies
China’s National Development and Reform Commission will call a meeting with some real estate companies in Beijing on Tuesday, and many of them have already received the notice. Most of them are big players in U.S. dollar bonds. Some executives of real estate companies have already rushed to Beijing, the report said. “The Development and Reform Commission directly notified by phone, and most of the participating companies are big investors in U.S. dollar debt.” The report said.
5. CISA: Prices of Major Raw Materials for Iron and Steel Production Have Increased Significantly in the First Three Quarters
On October 25, the Communist China Iron and Steel Industry Association (CISA) held a three-quarter information conference. CISA Vice President Qu Xiuli said at the meeting, the first three quarters of the steel industry market fluctuations, raw materials and steel prices are gradually rising, the overall level is higher than last year. According to the CISA, steel production with the main raw materials prices have risen sharply. From January to September, the average price of imported pulverized ore is 171.67 U.S. dollars / ton, up 72.64%, coking coal prices rose 57.07%, coke prices rose 56.88%, scrap prices rose 36.48%.
6. CATL and China Huadian Sign Strategic Cooperation Agreement
On October 22, Contemporary Amperex Technology Co. Limited (CATL) and China Huadian Corporation (CHD), one of the five largest state-owned power generation enterprises in Communist China, signed a strategic cooperation agreement in Beijing. According to the agreement, both parties will strengthen cooperation in brand, market, technology and products in the fields of energy storage, new energy and integrated intelligent energy. Previously, CATL and CHD have reached cooperation on Shandong Huadian Tengzhou 100 MW hourly centralized electrochemical energy storage project. The project covers an area of about 40 mu and is planned to build 100MW/200MWh lithium battery energy storage, which is one of the “first five demonstration projects of peaking energy storage in Shandong Province”.
7. Pharmaceutical Giant “Sues” Bohai Bank
On October 24, Bohai Bank released a statement saying that it “found abnormal behavior among enterprises and has reported to the police”. The matter originated from one of the hottest topics of the weekend, a media report said that Bohai Bank Nanjing Branch misappropriated 2.8 billion yuan of deposits from corporate customers and used them as pledge guarantees for loans from other companies. On the same day, Jiangxi Jiemin Trust Group Co., Ltd. issued a WeChat saying that the misappropriated deposits are two subsidiaries of the group and issued “six questions” questioning Bohai Bank Nanjing Branch, saying that Bohai Bank has long been aware of the misappropriation of its deposits by third-party companies for pledging business, but did not act.
8. Organic Fertilizer Exported from Communist China Contains Harmful Bacteria
Sri Lankan officials said on 24th that experts have banned a Chinese ship from unloading organic fertilizer because it was found to contain harmful bacteria. President Gotabaya Rajapaksa’s office said the National Institute of Phytosanitary Inspection had tested samples of fertilizer from the Chinese vessel and “confirmed the presence of organic organisms, including certain types of harmful bacteria. Another official statement also added that the Commercial High Court had barred payment to Qingdao Seawin Biotech Group Co., Ltd. for the 96,000 tons of organic fertilizer. In fact, as early as last month, Sri Lankan authorities terminated the $42 million deal, but the shipment is still on schedule and will arrive in the capital Colombo. The Sri Lanka Port Authority said the Ministry of Agriculture ordered on the 23rd that the fertilizer should not be unloaded at any port and that the Chinese vessel should be refused access to the port.
By【G Translators – Financial Team】
Author: Rosy Cloud
Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.