11/25/2021 Financial News in China: Overseas Equity Funds With Exposure To Chinese Stocks Are Set To Have Their Worst Performance In Three Years , Shanghai Data Exchange Was Unveiled

Image source

1.Ministry Of Commerce: January To October China’s Total Imports And Exports Of 4.89 Trillion U.S. Dollars, The Scale Has Exceeded The Whole Of Last Year

Vice Minister of Commerce Ren Hongbin said at a press conference held by the Ministry of Commerce on November 24, January-October, China’s total imports and exports of 4.89 trillion U.S. dollars, the scale has exceeded the whole of last year, another record high. In the first half of this year, China’s exports and imports of international market share reached 14.6% and 12% respectively, both a record high for the same period. China’s trading partners spread across more than 230 countries and regions around the world, with a daily import and export trade volume of more than $15 billion.

Comment:How can there be an increase in exports and imports when there is massive disinvestment? This news is bald-face lie.

2.Byte Education Has Another Major Layoff And Will Completely Abandon Its Primary And Secondary School Business

Many businesses under Byte Education’s Guagualong, Qingbei Online School, Xuelang, hardware, and campus cooperation have recently started layoffs. Nearly two thousand people will be abolished this month. With the end of this year’s online classes at the end of the year, hundreds of tutors at Qingbei Online School may also be abolished. The last time layoffs were in August, half of the 8,000-member tutor team of Gua Gua Long, a children’s enlightenment teaching business, was abolished. Since then, there has been constant turnover of employees. Byte Education has about 15,000 employees at the beginning of 2021, and then expanded. By November, there were fewer than 10,000 people in employment.

3.Beijing Officially Opens China’s First Autonomous Driving Service Commercialization Pilot

At the Beijing Yizhuang Innovation Release held on November 25, the Beijing High-level Autonomous Driving Demonstration Zone Work Office announced that Beijing officially opened the country’s first autonomous driving travel service commercialization pilot. The supporting management policies issued at the same time show that under the premise of ensuring the principle of fair competition in the market, enterprises can adopt a market-based pricing mechanism; the experience charging service can only be opened on the premise of clearing the principle of charging and payment methods to passengers. This marks a new stage of exploration in the domestic autonomous driving field from test demonstrations to commercial pilots.

4.Evergrande’s New Energy Vehicle Registered Capital Increased To 3.5 Billion

Securities Times e-company news, Tianyancha App shows that recently, Evergrande New Energy Automobile Investment Holding Group Co., Ltd. has undergone industrial and commercial changes, and its registered capital has increased from approximately US$2.515 billion to US$3.5 billion, an increase of approximately 39%. The company was established in January 2019, and its business scope includes investment in areas where the country allows foreign investment in accordance with the law (foreign-invested enterprises only). The equity penetration chart shows that the company is indirectly wholly-owned by Evergrande New Energy Automobile Holdings (Hong Kong) Co., Ltd.

5.Shanghai Data Exchange Was Unveiled

On November 25, the inauguration ceremony of the Shanghai Data Exchange was held in Shanghai and some of the first transactions were reached. On the day of the establishment of the Shanghai Data Exchange, approximately 100 data products were accepted for listing and completed listing, involving eight categories of finance, transportation, and communications. Some of the first transactions were reached, including the “Enterprise Electronic Smart Drawing” which was concluded between Industrial and Commercial Bank of China and Shanghai Electric Power. “Data products and civil chart service products, etc.” Among them, the data products of “Enterprise Electricity Smart Mapping” will take advantage of the wide coverage, strong real-time, and high accuracy of electric power big data to help commercial banks innovate financial products and services for enterprises based on energy data.

6.Chinese Investor Sentiment Index Was Basically Flat Month-On-Month In October

Investor attention in October was 381.2, a sharp drop of 18.6% from the previous month. In October, the investor sentiment index was 41.1, which was basically the same as the previous month. The major sectors were up and down. The CSI 500 and SSE 50 fell, while the ChiNext and SME boards rose. Food and beverage, electrical equipment, automobiles, mining, agriculture, forestry, animal husbandry and fishery industries are in a positive mood. Investors continue to be optimistic about industries such as food and beverage, mining, and leisure services. The major styles have fluctuated, with a steady decline.

Comment: CCP will not what the real index is and all they do is to make all the Chinese deplorable believe CCP is the best choice for them.

7.The Nominal Effective Exchange Rate Of The Renminbi Rose For Six Consecutive Months In October, Hitting A Six-Year High

The Bank for International Settlements (BIS) recently announced that the RMB real effective exchange rate index rose to 129.8 in October, a new high since February 2016; it rose by 1.57% that month, which was four consecutive months of growth and the largest monthly increase in 13 months; After revision last month, it rose 0.04%. In October, the RMB nominal effective exchange rate index rose to 125.59, a new high since November 2015; it rose 1.53% that month, marking six consecutive months of growth, and also the largest monthly increase in 13 months; it rose 0.33% after revision last month.

8.Overseas Equity Funds With Exposure To Chinese Stocks Are Set To Have Their Worst Performance In Three Years This Year

Overseas equity funds with exposure to Chinese stocks will have their weakest performance in three years. The Chinese stock market has been hit by the economic slowdown, technological suppression and the rising risk of default in the real estate industry. Refinitiv Lipper data shows that so far this year, overseas equity funds that focus on China have fallen by an average of 9.2%. Such funds have returned 47.1% and 33.3% in 2020 and 2019, respectively.

【G Translators- Financial Team】
Author: Andrew

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

Inline Feedbacks
View all comments