2. Brexit poker begins: UK ramps up no-deal preparations
Britain will tell the European Union on Tuesday that progress must be made in trade talks this week or the government will step up preparations to leave the bloc without a deal as the time ticks down to an end-of-year deadline.
3. Victoria’s “One belt one road” premier Daniel Andrews has put himself on highway to hell as his further two-week lockdown decision is getting him no where but leading to more business closures, according to the local business communities.
4. China is launching an initiative to set global standards on data security, countering U.S. efforts to persuade countries to ringfence their networks from Chinese technology, the Wall Street Journal reported here on Monday.
Under its new “Global Initiative on Data Security,” China would call on all countries to handle data security in a “comprehensive, objective and evidence-based manner,” the Journal said citing a draft reviewed by it.
5. The six major China banks have cut their salaries: 36 China banks’ revenue declined in the first half of the year, and their asset quality was under pressure. Under this circumstance, the salary of employees has also been reduced. These banks paid a total of 400.8 billion yuan ($58 bn) in cash to and for their employees in the first half of this year, a decrease of 590 million yuan ($86.8 mn) from the 401.43 billion yuan ($59 bn) in the same period last year, a year-on-year decrease of 1.5%.
6. A bottle water company, Nongfu Spring Co, listed in HK market on 8th Sept whose opening price was 85% higher than the offer price. Its capital, HKD 677 bn ($87 bn), was frozen at a historian record.
7. According to Reuters, China’s RMB loans in August are expected to be 1.22 trillion yuan （$179bn）, an increase of more than 20% from the previous month. The growth rate of M2 is still expected to be 10.7%. Driven by a sharp rebound in the issuance of local municipal bonds, the increase in financing in August was 2.73 trillion yuan ($401bn), an increase of more than 60% from the previous month and more than 20% from the same period last year.
By：【G-Translators – Financial and Law Team】