9/13 Financial News: CCP supervises local financial asset exchanges ostensibly

Image source: https://fingfx.thomsonreuters.com

1, The Nasdaq Composite fell in another volatile session on Friday as the continuing tech sell-off drove the benchmark to its worst week in months.

2, China banned pork imports from Germany on Saturday after it confirmed its first case of African swine fever last week, in a move set to hit German producers and push up global prices as China’s meat supplies tighten.

3, As U.S. cracks down on more Chinese technology firms, global banks ccramble to manage risk. After Huawei and ZTE, US is considering adding SMIC, a major semiconductor manufacturer giant to  to its trade blacklist.Soon after the news broke, bankers at a global lender which has more than $200 million in outstanding credit with SMIC huddled to discuss if there was a way to get the Chinese firm to prepay some of the loans.

4,The CCP supervises local financial asset exchanges, cuts off the possibility of poorly qualified real estate companies and urban construction investment companies financing through the financial asset exchanges, and pass this part of demand to private financing service centers promoted by local governments to charge service fees. It is only a change in form but not the content.

5,Bad profile of Chinese entities helping build military islands on Bien Dong Sea. Commerce Department on August 26 has announced sanctions on 24 Chinese entities, known as the “Entity List”, including the state-owned China Communications Construction Company (CCCC), calling the move a response to Beijing’s “militarization” of outposts in the South China Sea. CCCC is a major professional in Mr. Xi’s Belt-and-Road initiative for developing countries, but the quality of the infrastructure is poor, labor abuse exist, and this project also caused unsustainable debt and environmental damage.

6,Chinese company allows employees to voluntarily sign the “Voluntary Application Form for Strugglers”. To be a “Company Struggler”, they need to work overtime voluntarily, no annual paid leave, no overtime payments, accept the company’s layoff without any reason, and promise no legal disputes with company.

7, The Growth Enterprise Market (GEM) board continue to dive, with more than 340 stocks drop by more than 10%, the first continuous limit-down stocks came, and the two-day limit-down stocks were over 50%

8, Tianshan Biology Shanghai Zhiben Zhengye Investment Management Co., Ltd. was revealed to be an over-the-counter company. According to the statistics of AI Finance and Economics, within 12 trading days from August 19 to September 8, Tianshan Bio‘s stock price soared nearly 500%, 11 daily limit. According to statistics from Oriental Fortune.com, Tianshan Bio lost 60 million yuan in 2019, and its loss in 2018 was as high as 19.46 100 million yuan.

By:【G Translators – Financial and Law Team】

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灭共52165 新中国联邦

take down ccp, ccp is evil

5 months ago

CCP Virus ,CCP Lied,The world people died.Take down the CCP !
The New Federal State of China ! Everything has begun !
Action ! Action ! Action !
Lah Lah Lah Lah Lah !

5 months ago

ccp must go to hell



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