1/6/2021 Financial News: Three Communist China Oils Majors Be US Target After Three Telcoms Delisting

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1.News from Finance Yahoo on Jan. 4, 2021: (Bloomberg) — Chinese oil majors may be next in line for delisting in the U.S. after the New York Stock Exchange said last week it would remove Communist China three biggest telecom companies. China’s largest offshore oil producer Cnooc Ltd. could be most at risk as it’s on the Pentagon’s list of companies which are owned or controlled by Chinese military, according to Bloomberg Intelligence analyst Henik Fung. PetroChina Co. and China Petroleum and Chemical Corp., also known as Sinopec, may also be under threat as the energy sector is crucial to Communist China’s military, he said.

2.More than 1,000 real estate developers in Communist China have invested in pig farms over the past year to cash in on rising pork prices, according to mainland media reports. It was published by HK Apple Daily on Jan.5. Beginning in 2018, when the supply of domestic pork saw a sharp drop related to African swine fever. But such moves have raised concerns among traditional pig breeders. They suspect that the developers’ real intent is to acquire more land at low prices rather than to truly invest in the pig industry, mainland news reports said.

3.The People’s Bank of China (Central Bank) has laid its hands on deposits. The new policy will be effective in January this year, which requires account holders with the following deposits being permanently frozen. The annual maximum limitation of fund transaction to overseas is RMB50K for each person, who needs go abroad. And also, each single fund over RMB10K should be transferred through online banking system. This rule is aimed at people who do not abide by the law. 

4.On Jan 5, twelve ministries including the Ministry of Commerce in Communist China issued a directive on boosting the rural consumption potential. The Directive emphasizes five priorities: stabilizing and expanding automobile consumption, promoting consumption of home appliances, furniture, and decoration, boosting catering consumption, fixing weaknesses in rural consumption, and strengthening policy guarantees. It is expected that automobiles (especially new energy vehicles), home appliances, catering, and logistics (especially cold chain) industries will grow as a result of this directive.
Commentary: According to World Bank standards, more than 40% of China’s population still lives in poverty. “Green Book of Rural Area” estimated per capita disposable income of farmers in poverty-stricken rural areas to be about 13,000 yuan (about $2000) in 2020. It is unlikely that such a directive can work.

5.Paper industry experiencing national price increases in Communist China. Since Dec 7, 2020, prices for household paper products in Communist China have experienced three waves of increases, with an average increase of nearly 100 yuan/ton each time, due to many factors such as surging raw material prices, rising transportation costs and labor costs, downward trend of imported waste paper.

By [Financial Team-Wendy]

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