1/25/2021 Financial News: Britain Presses Biden For New Trade Deal; Chinese Investors Turn To Hong Kong Stocks

Image source: https://m.renminbao.com/

1.Britain’s Boris Johnson Presses Biden for New Trade Deal

British Prime Minister Boris Johnson made clear to President Joe Biden on Saturday that he’s eager to forge a new U.S.-U.K. trade deal. The push for a new deal came in a broad-ranging call between the two leaders that touched on the global response to the coronavirus pandemic as well as the Biden administration announcing this week that the U.S. would rejoin the Paris climate accord and the World Health Organization, according to a statement from Downing Street.

The White House in its own statement said that the two leaders spoke about combating climate change, containing COVID-19, and ensuring global health security as well as shared foreign policy priorities in Communist China, Iran and Russia. But the statement notably made no mention of discussion on trade.

https://www.newsmax.com/t/newsmax/article/1006932/8

2.Chinese Investors Turn from Mainland to Hong Kong Due to Stock Bubble Worries

On Jan 22, Reuters (Shanghai) reported that as Communist China’s blue-chip index approaches record high, some investors are turning to Hong Kong stocks as growing concerns of valuation bubbles. Shares purchased by investors via Interconnection Mechanism for the Mainland and Hong Kong Stock Market reached a record high of HK$26.6 billion ($3.34 billion) on Tuesday, and the total southbound funds this year hit HK$221.8 billion ($28.63 billion) as of Thursday.

https://www.newsmax.com/t/newsmax/article/1006765/8

3.Communist China’s State Chip Fund Suddenly Reduces Stakes of Three Major Semiconductor Leading Enterprises

On Jan 23, three leading listed semiconductor companies announced simultaneously that the Communist China Integrated Circuit Industry Investment Fund Co. Ltd plans to reduce its holdings by no more than 2% of the total share capital. The three companies involved include packaging leader China Wafer Level CSP (602005.SH), flash memory chip leader Giga Device (603986.SH) and semiconductor materials industry leader Anji Microelectronics Technology (688019.SH).

https://finance.sina.com.cn/stock/hyyj/2021-01-24/doc-ikftpnny1310973.shtml

4.Many Banks Suspended Mortgage, Meanwhile Trillions of Real Estate Debt Will Be Due

21st Century Business Herald reported exclusively that a number of Guangdong Joint-Stock Commercial Banks have recently suspended mortgage loans due to the influence of the “two red lines” of estate loans. The “two red lines” limit the proportion of real estate loans, as well as the proportion of personal housing loans, which means that both personal mortgage loans and real estate loans are restricted in all aspects.

At the same time, there are more than trillions of real estate debt to be due. According to a recent report released by Shell Research Institute, the scale of debt due by real estate enterprises in 2021 (excluding ultra-short-term bonds to be issued in 2021) is expected to exceed 1.2 trillion yuan ($0.19 trillion), an increase of 36% year-on-year and a historic breakthrough of the trillion mark.

https://finance.sina.com.cn/money/bank/bank_hydt/2021-01-24/doc-ikftpnny1315232.shtml

5.HSBC ‘Colluded’ with CCP to Debank Democracy Activists

Multinational investment bank HSBC has “colluded” with the Chinese Communist Party (CCP) to debank pro-freedom campaigners in Hong Kong, says the founder of Hong Kong Watch, as the bank’s chief executive is set to be grilled by British MPs on Tuesday. HSBC is heavily dependent on its profits from mainland China, and its collusion with the CCP can be described as shoddy. Last month, HSBC froze the accounts of a church in Hong Kong that has provided humanitarian assistance to protesters during the massive movement against the national security law. Ted Hui, a former member of the Hong Kong Legislative Council, also had his accounts frozen “because the police said so”. Moreover, Reuters reported in July that wealth managers at HSBC were scanning their client lists for any connections to the pro-democracy movement in order to keep in line with the diktats from CCP.

https://www.breitbart.com/europe/2021/01/24/hsbc-colluded-with-ccp-to-debank-democracy-activists-hong-kong-watch/

6.Google Threatens to Pull Search Engine in Australia After News Content Law

Google on Friday threatened to make its search engine unavailable in Australia if the government went ahead with plans to make tech giants pay for news content. Australian Prime Minister Scott Morrison quickly hit back, saying “we don’t respond to threats.”, “Australia makes our rules for things you can do in Australia”. The mandatory code of conduct proposed by the government aims to make Google and Facebook pay Australian media companies fairly for using news content the tech giants siphon from news sites.

https://www.newsmax.com/t/newsmax/article/1006809/8

7.Guangdong Needs to Transfer 10 Million Pigs from Other Provinces Throughout the Year, the Situation of Supply and Demand Is Severe

On January 23, at the fourth meeting of the 12th Chinese People’s Political Consultative Conference (CPPCC) in Guangdong, Wang Xilong, a member of the CPPCC and a researcher of Guangdong Laboratory Animals Monitoring Institute, said that the current situation of pig production and supply in Guangdong province is still severe, and Guangdong needs to transfer about 10 million pigs from other provinces throughout the year.

https://www.sohu.com/a/446496264_168900

By 【Financial Team】

News Collection: Totoro 、文罡、Kate

Translation & Writer: Rosy Cloud

Proofreading: 小蚂蚁在行动

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