2/25/2021 Financial News: TikTok’s Removing Videos; Secretary Xi’s Speech in Poverty Relief

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1.Secretary Xi announced complete victory in poverty relief

On Feb 25, Secretary Xi made an important speech at the commendation conference of national poverty reduction, saying that China’s fight against poverty has achieved an all-round victory through the joint efforts of the whole communist party and the people of all ethnic groups, at the important moment of the centenary of the founding of the Communist Party of China.

Comment: It’s a common sense that CCP decided at their own will when to announce the victory and how many people get rid of poverty, no matter what the real situation is.

2.Volvo and Geely cars announce merger plan

On the evening of February 24, Geely Holding Group released news that Volvo Cars and Geely cars announced a merger plan. The two sides will maintain their existing independent company structure, achieve strategic goals at the same time, continue to expand the field of cooperation, deepen cooperation in the four areas of electrification, intelligence, networking, sharing to truly realize the maximum value of business integration, strengthen scientific and technological advantages, continue to lead the industry change.

3.Communist China’s worrying marriage report in 2021

Marriage is an essential part of the family. For individuals, marriage is a sublimation of emotion, and the family is a real sense of belonging. For society, long-term harmonious marriage and family relations contribute to social stability. However, in recent years, less and less Chinese choose marriage or to marry relatively late. On the contrary, the divorce rate is higher and higher. The report pointed out that this is mainly due to the low birth rate and high social pressure in terms of high cost of child education, housing and living.

4.Land supply adjustment in key cities of Communist China

21st Century Economic Report reporter learned that on Feb 23, the National residential land supply classification and regulation video training conference was held and the Ministry of Natural Resources Development and Utilization Department Deputy Director Mo Xiaohui scheduled deployment work. The key part from the internal document shows that “In principle, the release of the land transfer announcement cannot be more than 3 times a year, the time interval and the number of plots is required to be relatively balanced.” This means there may be only up to three times of land auction activities in 22 important cities across the country which will definitely shock Communist China’s real estate market.

5.Female employee real-name reported China Life Insurance Company for a large number of counterfeiting

On February 24, China Life Insurance Company was on the hot search due to counterfeiting reported by its employee. The female employee, who has been working in the company for 16 years, reported the branch general manager a number of violations to complete the insurance task in order to take the company’s bonuses and achieve promotion.

6.TikTok removed 400,000 videos in the 2nd half of 2020 to combat election and COVID-19 misinformation

TikTok announced Wednesday it removed nearly 90 million videos globally in the second half of 2020. Of those videos, more than 11 million videos were removed in the United States. Almost 350,000 videos were removed for misinformation about the US election, while more than 50,000 were removed for spreading COVID-19 misinformation.

Comment: The article describes TikTok’s “efforts” to remove the videos with misleading information but does not mention whether TikTok’s move is in accordance with the standards it has set. How do you know TikTok won’t do the same as Tweet did to censor the information they don’t want? Can TikTok allow Pompeo’s declares of Communist China’s treatment of Uighurs ‘genocide’ to be spread?

7.Baker Hughes, AXA Group, 16 others quit Nord Stream 2 pipeline

WASHINGTON (Reuters) – Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia’s Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was seen by Reuters.
Russian energy company Gazprom and its western partners are racing to build the pipeline to take Russian gas to Germany under the Baltic Sea, and hope to finish it this year. President Joe Biden believes the pipeline is a “bad deal” for Europe

By 【Financial Team – 小蚂蚁在行动】

News Collection: 文罡

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