12/22/2020 Financial News: U.S. issues visa restrictions on CCP officials, Internet financial platforms removed deposit products

Image source: https://www.backchina.com/

1.The Dow Jones Industrial Average rose 37.4 points, or 0.12%, to 30,216.45, the S&P 500 lost 14.49 points, or 0.39%, to 3,694.92 and the Nasdaq Composite dropped 13.12 points, or 0.1%, to 12,742.52. Nike Inc rose 4.9%; Apple Inc rose more than 1%, is moving forward with self-driving car technology and targets car production by 2024, Tesla Inc dropped 6.5%.

2.The Trump administration on Dec. 21 published a list of Chinese and Russian companies with alleged military ties that restrict them from buying a wide range of U.S. goods and technology, including 58 companies with ties to the CCP. The move establishes a new process to “assist exporters in screening their customers for military end users.” The “military end user” designation requires U.S. companies to obtain licenses in order to sell to the firms.

3.On Dec. 21, U.S. issues visa restrictions on CCP officials suspected of rights abuses, the visa restrictions affect Chinese officials who the United States believes are responsible for or complicit in “repressing religious and spiritual practitioners, members of ethnic minority groups, dissidents, human rights defenders, journalists” and others.

4.Alipay and WeChat suddenly can’t deposit! A few days ago, Alipay conducted offline processing of bank deposit products on the wealth management page for users who did not hold Internet deposits. On the 20th, JD Finance and Duxiaoman platforms are processing Internet deposit products. At the same time, Tencent Licaitong no longer has the option of banking products in its stable financial management.

5.There was a sudden power outage in many places in Guangdong Province in the early morning of Dec. 21. Even, the power to the mobile phone transmission stations was cut off, which also affected the water supply and network signal. The outages plunged the cities Guangzhou, Dongguan, Shenzhen, Zhongshan, Foshan, Huizhou and Zhuhai. Power has been restored in some areas subsequently after an hour.

By 【Financial and Law Team-Tracy】

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