2/13/2021 Financial News: CCP Pushed Digital Currency Pilot; HNA Reorganization Update

Image source: https://global.chinadaily.com.cn

1.Beijing Winter Olympics digital RMB pilot program starts

The digital RMB pilot program in Beijing has started. Digital currency has also been written by the CCP into the draft of the “14th Five-Year Plan” in many places. Digital currency related industries such as ATM access, card wallet will also develop.

Comment: Miles Guo has predicted that the CCP will develop the digital currency after Biden comes to power. By developing digital currency, CCP aims to monitor people’s financial behavior, control capital outflow, replace US settlement system and build its own regional currency system in the “One belt, One road” countries.


2.Real property prices are not allowed to display in Shenzhen?

From February 8th to 9th, Shenzhen’s second-hand housing market changed rapidly within 24 hours. The housing prices of major real estate trading platforms cannot be displayed, and the mentality of real estate agents and buyers has also changed. This is related to news from the real estate market on the evening of February 8, saying that Shenzhen officials convened an emergency meeting of five major real estate agencies, requiring all their stores and websites to list prices that not to exceed the guide price.


3.Central bank’s new deposit regulations affecting everyone

All major banks have been notified to stop the smart deposit business (interest rate of 4.7% to 5.45% etc). The central bank stated that the guaranteed minimum yield by some banks is significantly higher than the general deposit interest rate, which is not conducive to maintaining the order of competition in the deposit market and should be supervised. This move will make depositors less likely to receive higher interest income from bank deposits.

Comment: the CCP is the largest criminal group in the world and steals the money from Chinese people and keeps them poor, so the government can make people kneel down to the CCP.


4.Communist China’s beef imports hit a record high

According to data released by the General Administration of Customs, Commmunist China imported 2.118 million tons of beef in 2020, an increase of 27.65% year-on-year, setting a record for domestic beef imports.

Comment: Domestic beef production has been significantly reduced due to CCP virus and its beef imports reflect the food crisis behind. And this news still claims that the CCP’s pandemic prevention and control is effective, and the so-called internal circular economy is developing, which is really absurd.


5.HNA’s reorganization, with the original shareholders’ equity being cleared

On January 12, HNA Group and more than 60 of its first batch of companies that filed for bankruptcy and reorganization received a civil ruling issued by the court. All debts of the debtor’s enterprise (HNA) will not calculate interest, and the debtor’s enterprise (HNA) can continue to operate during the bankruptcy and reorganization period. At the same time, managers can start to introduce new strategic investors, and the rights and interests of old shareholders will be adjusted to zero. The shares of three HNA listed companies were suspended for one day on February 18 and resumed trading on the 19th and were subject to delisting risk warnings.


6.PayPal-owned Venmo faces scrutiny for its collection practices

The Consumer Finance Protection Bureau (CFPB) filed a Civil Investigative Demand against Venmo’s owner, PayPal, on Jan. 21. The filing states that its intent to take an extended look at Venmo’s practices is “related to Venmo’s unauthorized funds’ transfers and collection processes, and related matters.” It appears the CFPB has begun the process of pushing Venmo to amend the process.


7.Job Creators Network Foundation launches campaign exposing ‘Amazon’s Plot to Kill Small Businesses’

Amazon has made a “thinly veiled attempt to kill its small business competitors,” according to the Job Creators Network Foundation in a press release. Specifically, Amazon has been running advertisements urging lawmakers to more than double the federal minimum wage to $15 an hour, which could be a deathblow to the thousands of small businesses already hanging on by a thread.


By 【Financial Team-雪梨Cheli】

News Collection: Kate、Totoro、文罡

Proofreading: 小蚂蚁在行动

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13 days ago

Health Inspector Dances After Shuting Down Business


16 days ago

My last paycheck was $2500 for working 12 hours a week online. My sisters friend has been averaging 8k for months now and gyu she works about 30 hours a week. and I can’t believe how easy it was once I tried it out. The potential with this is endless.

 This is what I do….. 𝐖𝐰𝐰.𝐉𝐨𝐛𝐜𝐚𝐬𝐡𝟏.𝐜𝐨𝐦



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