1/7/2021 Financial News: Communist China’s “making promise” on carbon reduction, seeking foreign capital investments

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

1.Communist China’s making fake promise on carbon reduction

On January 6, the People’s Bank of China stated to implement major “carbon peak” (CCP promised CO2 emissions will reach peak in 2030 and no longer grow) and “carbon neutral” (offset CO2 emissions by tree planting, energy saving etc.) decisions, and improve the green financial policy framework and incentive mechanism, guiding financial resources flow to green industry.

While green bonds are undoubtedly one of the most important forces in green financing, the domestic labelled green bond market has grown to approximately US$120 billion, making it the world’s second largest green bond market.

Opinion: Considering CCP’s dishonest history, it once again made fake promise of carbon reduction to the world, cheating foreign capital to invest in their green bonds.

https://finance.sina.com.cn/roll/2021-01-07/doc-iiznezxt0949269.shtml

2.Communist China deploys three key priorities in 2021 to control the risk of abnormal cross-border capital flows

The recent sharp appreciation of yuan to more than 6.45 this week against the US dollar has come under attention of the State Administration of Foreign Exchange (SAFE). To prevent further abnormal cross-border capital flow risk, the SAFE has stepped up and will strictly control the in and out of hot money.

Opinion: the move behind is more likely connected to the running out of foreign capital and Laobaixing’s willing to move their fortune out of Communist China due to worse economic outlook and potential risk of warfare.

https://finance.sina.com.cn/roll/2021-01-07/doc-iiznctkf0531210.shtml

3.Former head of China state asset firm sentenced to death

The former head of state-owned China Huarong Asset Management Co. Ltd. was sentenced to death Tuesday for bribe taking in one of the harshest punishments for economic crimes in recent years in Communist China.

https://ca.movies.yahoo.com/former-head-china-state-asset-110406843.html

4.More cities in Communist China are in lockdown

In North part of Communist China, more cities are being put under lockdown. Many stories coming out of these cities raises the question of whether the cure is actually worse than the disease. In Dalian city, residents were spotted shouting from their windows at night “We need food, we need to eat.”

https://twitter.com/chinainfocusntd/status/1346871959250993161?s=21

5.Saudis Surprise Oil Market with Big unilateral production cut

Saudi Arabia surprised the oil market with a large reduction in its output in February and March, carrying a greater burden of OPEC+ cuts while others hold steady or make small increases. The kingdom will make an extra cut of 1 million barrels a day, Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday. That more than offsets the combined 75,000 barrel-a-day increase Russia and Kazakhstan will be allowed to make in each of those months. The rest of the group will hold output steady.

https://www.newsmax.com/t/newsmax/article/1004341/8

By [Financial Team]

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