11/28/2020 Financial News: Thanksgiving online shopping hits record $5.1B but fell well short of the $6B that Adobe original predicted

  1. 2020 Thanksgiving online shopping hits record $5.1B, up 21.5% on 2019, with 47% of sales via mobile. However, due to quarantine and curfew, store sales may crash and the online shopping data still fell well short of $6B that Adobe originally predicted.


2. Ray Dalio, the billionaire founder of Bridgewater, is opening a family office in Singapore to run his investments and philanthropy throughout the region. Dalio has long held ties to Asia and Singapore, and felt it was “high time” to open a family office there, the hedge fund manager’s spokesperson said in a statement, without elaborating on the timing or staffing plans.


3. Reuters released a piece of important news two days ago (11/27/2020). Recently, China’s soybean importers were preparing to cancel their December and January shipments of US goods on the grounds of declining profits. This is the first-time large-scale cancellation of purchases of American agricultural products since the signing of the first phase of the Sino-US trade deal.


4. According to data from China Vegetable Marketing Association, on 11/11/2020, Green Onion price was about 2.6 yuan per kg in Zhangqiu, Shandong Province, a major agricultural area. This is a 160% increase compared with that of the same time last year. Scallion price was around 2.9 yuan per kg in Xinye, Henan province, another major agricultural area. This is an increase of 1.6 yuan per kg or a 123.08% increase compared with that of late August.


5. On 11/26/2020, court of Yancheng (in Jiangsu province) sentenced a blockchain website called PlusToken as multilevel marketing and arrested 82 relevant personnel. PlusToken has allegedly collected various virtual currencies by its members with a total worth of 14.8 billion yuan (approximately $22.5bn USD).


6. Murata Manufacturing Co., Ltd. announced that it would close its production subsidiary “Sheng Long TOKO Tech Co., Ltd” located in Shenzhen by December 2020. This subsidiary used to have more than 1300 workers a couple of years ago.


By:【G Translators / Financial and Law Team】

Proofreading: Sister Karamazov

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