12/30/2020 Financial News: The cold wave is coming; a shortage of power supply is expected in Communist China

Image Source:  https://www.epochtimes.com/

1.Communist China’s coal inventory for power plants is at high alert level
As of December 28, the national inventory of coal for power plants was 132 million tons and can only be used for 17 days, which is at a high alert level.
Affected by multiple factors such as cold wave weather, the demand for electricity in Hunan and Jiangxi provinces grew rapidly. The cumulative electricity consumption of Hunan and Jiangxi in Dec was increased by 17.2% and 19.07% year-on-year respectively, which is the highest in the same period in 6 years. Hunan’s coal inventory is 3.369 million tons, available for 25 days while Jiangxi is 2.487 million tons, available for 16 days.

2.EU agrees investment deal with Communist China to rebalance ties
BRUSSELS (Reuters) -The European Union and Communist China agreed on Wednesday to an investment deal that will give European companies greater access to Chinese markets and help redress what Europe sees as unbalanced economic ties.

3.Chairman Mao Zedong’s 127-year-old birthday reappears with fanatical worship
On Dec 25 and 26, tens of thousands of people gathered at the Mao Zedong Statue Square in Shaoshan (Mao’s hometown) with flags of Communist China everywhere. Many people knelt down and worshipped a bronze statue of Mao, as if worshipping god.

With increased tensions between Communist China and U.S., the CCP arranged the return cabin of Shenzhou 10 spacecraft to exhibit in Shaoshan as a way to show off its power, creating a wave of fanatical worship to Mao, mainly due to Mao’s tough diplomatic style.

4.Communist China’s central bank to include non-bank financial entities in supervision
On Dec 30, the People’s Bank of China issued “Measures for the Supervision and Administration of Anti-Money Laundering and Anti-terrorist Financing of Financial Institutions (Revised Draft for Solicitation of Comments)”, which expanded the scope to non-bank payment institutions, small loan companies engaged in online small loan business, consumer finance companies, loans companies, and bank’s wealth management subsidiaries etc.

5.Feed grain will become the most serious food security problem Communist China facing in future
On Dec 30, a report from China Grain pointed out Communist China’s future food security problem will be from feed grain, especially soybeans and corn.

Soybean is the variety with the largest gap in China’s grain varieties and requires importing 80 to 90 million tons every year which will still remain at a high demanding level in the long run.

Meanwhile, corn imports will also set a record high. According to customs data, corn imports from Jan to Nov this year were 9.04 million tons, an increase of 122.7% year-on-year, far exceeding the import tariff quota of 7.2 million tons.

Happy New Year! May the best of your past be the worst of your future.

By 【Financial Team】

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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