1. Europe is decoupling with CCP. Last Friday (Aug. 28), CCP’s Minster of Foreign Affairs Wang Yi visited Europe and prepared a summit for Chairman Xi with EU leaders scheduled for Sep.14. However, Wang’s threatening speech to Czech Republic made Europe uncomfortable and elicited a prompt response from Heiko Mass, Germany’s foreign minister, announcing that “threats don’t fit in here”. Counterparts from France, Slovakia and other European countries quickly backed him up.
2. The Trump administration is considering imposing export restrictions on Semiconductor Manufacturing International Corporation (SMIC), China’s largest manufacturer of semiconductors, according to a Defence Department spokesperson. It is said that SMIC is cooperating with PLA.
3. Russian energy minister Alexander Novak forecasts 2021 oil price will range of $50-$55 per barrel, which is a little more modest than Goldman Sachs’ prediction of $65 per barrel due to low demand and business and behavior changes brought by the CCP virus.
5. Over 60 bn RMB is about to flood Chinese market. CCP stock markets will lift the ban of 40 stocks excluding Sci-Tech innovation board. According to the latest closing price, those stocks values could reach 66.3 bn RMB of which 6 are over 3 bn RMB.
6. Virgin Atlantic is to cut 1,150 more jobs after completing a £1.2 bn rescue plan that will secure its future for at least 18 months.The airline had already cut more than 3,500 jobs out of the 10,000 employees it had at the beginning of the year.
By：【G Translators – Financial and Law Team】