2/11/2021 Financial News: CCP’s Coal War with Australia; TikTok’s Sale Shelved

Image source: https://www.abc.net.au/

1.Tiktok’s Sale to Walmart, Oracle Shelved While Biden Assess Threat

On Feb 10, TikTok’s forced sale to Walmart and Oracle has been shelved indefinitely as the Biden administration takes on a broad review of national security risks posed by Chinese technology companies initiated under his predecessor, according to the Wall Street Journal.

Former U.S. President Donald Trump had ordered the popular video app, which is owned by Communist China’s ByteDance, be sold to an American company last year, citing national security concerns about users’ data falling into the hands of Chinese authorities.


2.Communist China’s Coal War with Australia

Communist China’s ban on Australian coal imports is intensifying a crisis in its coal market, which is battling surging prices, supply shortages, conflicting policy goals and a cold winter.

The ban complicated a supply crunch. Communist China was short of thermal coal and officials urged the companies to import more—from anywhere except Australia, Communist China’s biggest supplier. To comply, buyers in Communist China have had to pay steep premiums for imports from farther afield, on top of prices that have risen 84% since midyear.


3.HSBC Becomes the First Foreign Bank to Issue Interbank Foreign Currency Certificate of Deposit in Communist China

On Feb. 10, HSBC China today officially participated in the issuance of the first foreign currency interbank certificate of deposit and became the first foreign bank to issue such certificates of deposit.

HSBC China issued US $ 50 million this time with a deposit period of one month and targeted all members of the foreign exchange trading center. The issuance was widely acquired by domestic institutional investors including Cathay United Bank, CTBC Bank, DBS Bank and overseas institutional investors UOB.


4.Hong Kong’s Capital Markets Have Not Faded?

On Feb. 10, CCP’s propaganda news “People’s Daily overseas edition” reported that Yu weiwen, president of the Hong Kong Monetary Authority, explained “There is no capital outflow in Hong Kong, private wealth has not withdrawn from Hong Kong, financial institutions have not withdrawn from Hong Kong, Hong Kong’s capital market has not faded.” and used so-called statistical data as a proof.

Opinion: Since CCP took over Hong Kong and destroyed its promise of “One country, Two Systems” and “Sino-British Joint Declaration” last year, HK is not a prosperous city anymore along with tens thousands of Hongkongers being killed for fighting for freedom. Yu’s speech for the CCP is too fake.


5.Communist China’s Bank Disclosed First Batch of NPL Transfer Announcement

On Feb. 8, the website of the banking credit asset registration and Transfer Center released the first batch of six non-performing loan transfer announcements which involved Industrial and Commercial Bank of China and Ping An Bank with a total 657 million yuan. Institutions involved in the acquisition of non-performing loans include five financial asset management companies (AMC), as well as eligible local asset management companies and financial asset investment companies (AIC).


6.Communist China’s CPI dropped 0.3% year-on-year in January

On February 10, the latest data released by the National Bureau of Statistics (NBS) showed that in January 2021, the National Consumer Price (CPI) fell by 0.3% year-on-year. Among them, food prices rose by 1.6% and non-food prices fell by 0.8%.

NBS’ analyst explained that the drop is mainly due to the decline in service prices.
In January, residents travel and some contact service consumption decreased due to the pandemic. The travel service prices fell sharply, including air tickets and travel agency fees by 33.2% and 9.9% year-on-year respectively.

Opinion: The CCP used the sharp drop in travel service prices to cover the surging living cost of Chinese people, especially food prices which weighted 30% of the CPI and increased dramatically in recent months.


7.Myanmar coup threatens fragile economic recovery

Myanmar’s brief experiment with democracy has ended, jeopardizing billions of dollars in foreign investments. A tough response from the EU and the US risks pushing the country further into Communist China’s economic orbit.

Myanmar’s military seized control of the country earlier this month, claiming that elections held in November, which handed a landslide victory to Aung San Suu Kyi’s National League for Democracy, were rigged. Tens of thousands of people have hit the streets against the coup in the largest protests in the country in more than a decade.


By 【Financial Team-小蚂蚁在行动】

News Collection: Wendy 、文罡、Sharon

Proofreading: Tracy

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

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