1/21/2021 Financial News: Communist China’s Bulk Real Estate Transaction Volume Dropped

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

1. Communist China’s bulk real estate transaction volume dropped 29% in 2020

On Jan 20, International real estate service provider “Cushman & Wakefield” said that under the impact of COVID-19, Communist China’s mainland real estate market recorded 204.7 billion yuan ($31.64B) in transactions in 2020, down 29% year-on-year, of which foreign transactions fell sharply, accounting for only 23% of the country’s total.

https://cn.reuters.com/article/cushmanwakefield-china-real-estae-0120-idCNKBS29P100

2. ICBC’s 269.9-billion-yuan bad debts

On Jan 20,  caijingxiang reported that among the 269.9 billion ($41.7B) bad debts of Industrial and Commercial Bank of China (ICBC), the manufacturing industry has the highest proportion, reaching 31.62% and surpassing the real estate industry. The catering industry and accommodation are affected by the epidemic lockdown thus their proportion of bad debts is also rising rapidly.

3. The three major telecom operators jointly issued announcements: requesting the NYSE to review the delisting decision

On Jan 21, the three major state-run telecoms (China Mobile Ltd., China Unicom Hong Kong Ltd. and China Telecom Corp.) in Communist China jointly issued announcements in HongKong that on Jan 20, they submitted a written request to the New York Stock Exchange, asking a committee of the NYSE’s board of directors to review the delisting decision.

According to the NYSE’s listed company handbook, the reconsideration will be arranged at least 25 working days after the date of the request. The companies have asked the committee to overturn the decision and suspend the suspension of trading of American depositary shares until the decision is reconsidered. Investors must note that the companies’ reconsideration requirements and suspension requirements do not guarantee success.

https://finance.sina.com.cn/roll/2021-01-21/doc-ikftpnny0009681.shtml

4. Kweichow Moutai stock’s rare plunge

On Jan 19, Moutai (a famous white wine in Communist China and is said it’s Xi’s family business) stock price experienced rare plunge and lost 67.4 billion yuan ($10.4B) in total stock capital in one day.

The analyst indicated this may be related to a news spread in the market that a fund called American Funds-Europacific Growth Fund, which is under Capital Group and is currently the world’s largest fund holding Moutai shares, reduced 450,000 shares in Q4 2020.

https://finance.sina.com.cn/stock/s/2021-01-19/doc-ikftssan8321678.shtml?cre=tianyi&mod=pcpager_fintoutiao&loc=5&r=0&rfunc=45&tj=cxvertical_pc_pager_spt&tr=174

5. France’s Macron Welcomes US back into Paris agreement

On Jan 20, French President Emmanuel Macron tweeted to welcome President Joe Biden and Vice President Kamala Harris back to the Paris Climate Agreement, as promised in Joe and Kamala’s campaign.

https://www.newsmax.com/t/newsmax/article/1006502/18

6. Asian stocks climb to record highs on Biden stimulus hopes

On Jan 21, Asian stocks set a record high after Janet Yellen urged lawmakers to ‘act big’ on economic stimulus package to cushion the economic damage of the COVID-19 pandemic.

https://www.reuters.com/article/us-global-markets/asian-stocks-set-for-strong-start-after-day-of-gains-on-wall-street-idUSKBN29P2Y7

By 【Financial Team】

News Collection: Sharon、文罡、Totoro、雪梨Cheli
Translation Writer:小蚂蚁在行动
Proof-reading:小蚂蚁在行动

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