Image source: https://economictimes.indiatimes.com/
1. Communist China’s 3.02 trillion of non-performing assets in 2020, the highest in a calendar year
On January 22nd 2020, Liang Tao, vice chairman of the CIRC revealed the amount of non-performing asset has reached a historical high of 3.02 trillion yuan. Percentage increase of total asset in banking sector and total liability is almost the same at just over 10%. CIRC has requested the industry to reform by clamping down on online lending platforms. Non-performing real estate financing will continue to be a concern under current economic environment.
2.HNA’s 700 billion debt crisis
Since the high profile of Wang Jian, the then chairman and co-founder of HNA Group, this once leading enterprise has spiraled downhill. This pending debt crisis has got more complicated with recent resignations of two top executives. At current economic environment, restructuring efforts remains grim. It is looking more like the company be taken over by the government with funding from the public.
3.Shortage of chip supply likely to continue in 2021
Due to CCP virus, the logistics disruption and changes of lifestyle have affected supply chain of chip in Communist China, causing chip price of different manufactures increased by 5% to 15%. The article only mentioned the situation is caused by upstream supply constraints while being sanctioned from obtaining chip is more closed to the truth.
4. Forced reduction plan in crypto industry
In the face of economic uncertainties, many investors have turned to this new form of digital gold as store of value or speculation. As Bitcoin and Ethereum gain popularity, many ‘Copycat coin’ have emerged. One of which is COCOS token.
On January 9th 2020, the official token issuer announced a reduction plan of 1000:1 causing an investor 60 million yuan of loss overnight. As the market is unregulated, investors are often at the mercy of coin issuer not to be taken advantage of.
5.Tightening supervision control on small and medium-sized banks products
The regulatory authority is placing more requirements on small and medium size bank on compliance and risk management control before products innovation. The once popular mode of transaction via third party online platform has been prohibited.
6.President Biden reverts predecessor’ s Order Banning Communist China’s Involvement in US Power Grid
President Biden has reverted a Trump-era order that bans Communist China’s involvement in US power grid. Is this part of President Biden’s climate change agenda? The new Secretary of Energy will be tasked with executing this new order who has been reported having ties with Communist China. As Communist China has recently be named as an anti-human organization, will the new Secretary be impartial in his role?
7.World Health Organization (WHO) advisor confirming virus leak from Wuhan Laboratory.
Three days into President Biden in office, WHO advisor Jamie Metzl told Toronto Sun in his interview, COVID-19 did not originate from the wet market in Wuhan. Furthermore, it is a gain of function virus from the bat mostly likely from Wuhan’s Laboratory. How come WHO has taken such a long to reveal this information. Dr. Li-Meng Yan has been saying this since April 2020. Is this interview timed to show the new administration credible?
Opinion: Now CCP cannot continue to fabricate the origin theory of natural and turned to the so-called accidental lab leakages, trying to lower its responsibility to the global death and loses.
By 【Financial Team】
News Collection: 文罡、Sharon
Translation & Writer: KM