2/2/2021 Financial News: Communist China’s Pension Reserves Crisis, Kuaishou Faces Copyright Infringement Dispute

Image source: https://supchina.com/

1.Cracks in Communist China’s Old-Age Pension System Begin to Widen

In recent years, with the increasing number of the elderly in Communist China, the sustainability of the pension fund is threatened. Responding to the growing pressure on pension reserves, Communist China is going to expedite the pension fund reform and take measures to make the pension fund system more sustainable. For instance, the retirement age could be raised, and the minimum 15 years’ pension insurance payment period extended.

The gap between contributions and outlays reached 450.4 billion yuan in 2018. A research report on Communist China’s pension fund released by the Insurance Industry Association of Communist China also predicted that there will be a gap of 8 to 10 trillion yuan in Communist China in the next 5 to 10 years, and the gap will widen over time. According to previous forecasts, Communist China’s elderly population is expected to reach 400 million by the end of 2035.

Opinion: CCP stole trillions of US dollars’ wealth from the Chinese people and now continue to exploit them by extending their retirement age and pension insurance payment period.


2. Kuaishou Faces Copyright Infringement Dispute

A Chinese copyright organization is demanding short video-sharing app operator Kuaishou Technology to delete an initial 10,000 videos from its platform for alleged infringement of music copyrights. Kuaishou’s platform has more than 155 million videos that used unauthorised copies of sound recordings as background music. On Jan. 28, the Apple Store stated that Kuaishou would be removed from its store unless the two sides could find a long-term solution to the issue.


3. Beijing and Shanghai CBIRC Strictly Checks the Illegal Inflow of Personal Credit Funds into the Real Estate Market

On January 29, the Shanghai Banking and Insurance Regulatory Bureau (CBIRC) issued the “Notice of Shanghai Banking and Insurance Regulatory Bureau on Further Strengthening the Administration of Personal Housing Credit”. Commercial banks within the jurisdiction put forward requirements for the implementation of differentiated housing credit policies, housing credit management, etc.

Meanwhile, Beijing CBIRC has carried out big data screening for the problems reflected in public opinion for the first time and issued regulatory reminder letters to banking institutions within its jurisdiction on the clues of doubtful points found in the screening.

Opinion: Communist China’s banking systems and real estate market are cracking.


4. Russia Announced A 30% Tariff on Soybean Exports

Russia decided to impose the export tax on soybeans to secure domestic supply amid rising global prices, its economy ministry said on Saturday. The duty will be 30% on soybeans exported to Communist China and other countries who are not members of the Eurasian Economic Union from Feb. 1 to June 30.


5. Beijing and Shenzhen’s New Long-Term Rental Apartment Supervision Regulations Issued

On Feb 2, Communist China’s first-tier cities, Beijing and Shenzhen, have recently released new regulations for the leasing market, which regulates the long-term rental apartments that experienced constant debts default last year, taking another step towards solving the “big city housing problem”. Both places require strict supervision of the fund pools of decentralized long-term rental apartments (that is, second-landlord housing leasing companies), strict control of “rent loan” allocation objects, and exclusive management of deposits/excess rents.

Opinion: CCP is specialized in releasing all kinds of so-called regulations to trick their people and make them feel better, which turns out to be worse finally.


6. Huawei Caught Red-Handed in Covert Influence Op to Sway European Policymakers On 5G

Huawei was recently busted in Europe for waging an aggressive online social media campaign which utilized a small army of fake accounts in order to sway European officials over telecommunications policy.

In particular the “covert pro-Huawei influence campaign” sought to convince Belgium lawmakers to see it Communist China’s way at a moment the United States is targeting its building 5G networks in the West.


7. Germany Sees A New Tougher Line on Communist China and Russia

Relations with Russia, which Germany relies on heavily for energy, have recently touched another low after the poisoning of opposition leader Alexei Navalny.

With Communist China, it’s becoming increasingly clear that there will be no “political change” through trade. But many say it’s high time for Germany to be stricter with CCP, be it on acquisitions, technology or human rights issues.


By 【Financial Team】

News Collection: Totoro 、文罡、Sharon

Translation & Writer: Tracy

Proofreading: 小蚂蚁在行动

Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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