11/30/2020 Financial News: OPEC Meeting Begins

Image Source: middle-east-online.com

1. Nov 30, Jilin Zixin, a Pharmaceutical company famous for its Ginseng products, has to pay back 3.6bn RMB loan. Due to terrible economy, fewer consumers can afford Ginseng, which means Jilin Zixin is in danger.

2. It is said that one employee at Hynix’s Chongqing factory, one of the largest semiconductor factories in China, was tested positive of CCP virus on Nov 29. Prices of new orders are soaring due to its sudden shutdown.

3. On November 30, 2020, the People’s Bank of China launched a 200 billion yuan medium-term loan facility (MLF) operation and a 150 billion yuan reverse repurchase operation. In addition, the People’s Bank of China will start the Mid-term Lending Facility (MLF) operation on December 15.

4. Nov 30 in Tianjin, apartments owners are now trying to sell their properties at 30% to 40% discount. However, some netizens told reporters that other owners are not happy with that and hinder the transactions.

5. OPEC and OPEC+ producers will meet on November 30th and December 1st respectively, with Monday’s meeting scheduled at 13:00GMT/08:00EST

[ G-Translators-Financial Team]

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