11/22/2021 Financial News In China: Britain Is Considering A Diplomatic Boycott Of The Beijing Olympics; Birth Rate Falls Below 1% For The First Time, Lowest In 43 Years

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1. Britain is Considering a Diplomatic Boycott of the Beijing Olympics

British Prime Minister John Johnson is considering a diplomatic boycott of next year’s Winter Olympics in Beijing to protest China’s human rights record, The Times reported Saturday. The paper said the government is in “active discussions” and that British Foreign Secretary Liz Truss is said to be in favor of a boycott. According to the Times, one option is that British ministers would not attend the Winter Olympics, but the British ambassador to China would. President Joe Biden confirmed Thursday that the U.S. is considering a diplomatic boycott of the Beijing Winter Olympics.

2. Birth Rate Falls Below 1% for the First Time, Lowest in 43 Years

The newly released Communist China Statistical Yearbook 2021 shows that the national birth rate was 8.52 per 1,000 in 2020, falling below 10 per 1,000 for the first time and hitting a new low since 1978. Communist China’s natural population growth rate was only 1.45 per 1,000 in the same period, also a record low since 1978, according to a report by China Business News. According to the yearbook, Communist China’s population increased by a net 2.04 million in 2020 compared to 2019, compared to an increase of 4.67 million the year before and 5.3 million in 2018.

3. SAMR Punishes 43 Cases of Failure to Declare Implementation of Operator Concentration

Communist China’s General Administration of Market Supervision (SAMR) has imposed administrative penalties on 43 cases of unlawful implementation of operator concentration without declaration in accordance with the law, imposing fines of RMB 500,000 on each of the companies involved. The companies involved in the cases include Baidu, Alibaba, JD, Tencent, Suning, Didi, and Alibaba’s Ele, Taobao, etc., involving Alibaba and Tencent are more than ten cases. The announcement released on the official website of the SAMR said that the cases announced are all past transactions that should be declared but not declared, with many cases, involving a wide range of enterprises and a long-time span of transactions.

4. China Telecom’s Network in Gansu Province Suffered Massive Failure for Hours

On November 21, China Telecom users in many places in Gansu Province experienced no cell phone signal, users were unable to use call and SMS services, and China Telecom customer service calls could not be reached. According to the reply from China Telecom Gansu customer service, 5G voice and data services were affected due to equipment failure at around 18:20 on November 21. It is reported that some of the Gansu Telecom users outside the province were also affected. The network failure lasted for 7 and a half hours.

5. Marriage Registrations Have Declined for Seven Consecutive Years, Hitting a 17-Year Low Last Year

On Nov. 21, the China Statistical Yearbook 2021, recently published on the official website of the National Bureau of Statistics, showed that in 2020, the number of officially registered marriages totaled 8,143,300 pairs, a decrease of 1.13 million pairs compared to 2019. This is also the seventh consecutive year of decline since 2013 when it reached 13,469,300 pairs. 8,143,300 pairs of marriages registered in 2020 is also a new low in the last 17 years since 2003 (NBS official website data: 8,114,000 pairs).

6. Communist China-Cambodia FTA to Come into Force on January 1, 2022

According to the Ministry of Commerce on November 22, the Free Trade Agreement between the Communist China and the Royal Government of Cambodia (the Agreement) will come into force on January 1, 2022. The Agreement was officially signed on October 12, 2020. According to the Agreement, the proportion of zero-tariff product tariff lines for trade in goods on both sides has reached more than 90%, and the commitment to open the market for trade in services has reached the highest level. At the same time, the two sides also agreed to strengthen investment cooperation and deepen cooperation in areas such as the “Belt and Road” initiative, e-commerce, and economic technology.

7. Bilibili Obtained Payment License

The well-known video platform Bilibili acquired 65.5% of the equity of licensed payment institution Zhejiang Yong Yi Electronic Payment Co. for about 118 million yuan, becoming the controlling party and officially obtaining a payment license. The starting price of the 65.5% state-owned equity of Yong Yi payment is RMB 117,965,500, and the final price is also 117,965,000. The buyer of the 65.5% state-owned stake in Yong Yi Payment is Shanghai KuanYu, which is the main company of Bilibili. 

8. Membership of Sam’s Clubs in China Exceeds 4 million

Sam’s Club announced that the number of paid members in Communist China has exceeded 4 million, according to Walmart China on Nov. 22. Currently, Sam’s operates 36 stores in 23 cities and covers most of the country through its e-commerce platform. According to Walmart Global’s third quarter earnings report, Sam’s China achieved double-digit growth in comparable sales and memberships for the quarter. 

【G Translators – Financial Team】
Author: Rosy Cloud

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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