3/1/2021 Financial News: Suning Sells Stake to CCP-Owned Investors; Danone Sells Communist China’s Mengniu

Image source: https://news.cgtn.com/

1.Suning Sells 23% Stake to CCP Owned Investors

On Feb. 28, Suning.com, one of the largest non-government retailers in Communist China, sold 23% of its stake to CCP owned investors, with a total transaction of $2.29 billion in order to improve its equity structure and its long-term strategy.
One the same day, the Chinese Super League champion Football Club owned by Sunning Group also announced “cease operation from today”.

2.Under Pressure from Shareholders, Danone Takes Steps to Sell Communist China’s Mengniu

(Reuters) – On Feb. 28, Danone said that it was taking the first step towards selling its stake in its Chinese dairy partner as the French food group faces pressure from shareholders to improve its performance and governance. Danone said in a statement that following its review of its investment portfolio, it had reached an agreement to convert its indirect stake in China Mengniu Dairy Company Limited into a 9.8% direct holding in the Hong Kong-listed group. The French group said the indirect stake currently had a book value of about 850 million euros ($1.03 billion) and contributed 57 million euros to its income in 2019.

3.CCP’s Manufacturing PMI Falls Back to 50.6% in February

(Xinhua) On Feb 28, CCP’s National Bureau of Statistics Service Industry Survey Center, Communist China Federation of Logistics and Purchasing jointly released data, in February, Communist China’s manufacturing purchasing managers index (PMI) was 50.6%, a decrease of 0.7 percentage points from the previous month.

4.CCP’s New Non-bank Payment Regulations Come into Effect on March 1

(Eastday.com) The Communist China’s central bank issued the “Non-bank Payment Institution Customer Reserve Fund Depository Measures” for companies in the non-bank payment industry, such as Ant Group’s Alipay and Tencent’s WeChat pay in January, which will come into effect on March 1, 2021.

5.Communist China Hoards Used Chipmaking Machines to Resist US Pressure

(Nikkei) Chinese semiconductor makers are snapping up used chipmaking machines as they rush to produce homegrown products amid U.S.- Sino trade tensions. Japanese used equipment dealers say prices are up by 20% from last year. Older-generation machines are not restricted by U.S. sanctions on Communist China, giving Chinese players unfettered access. As U.S. sanctions limit Communist China’s access to cutting-edge technologies, Chinese manufacturers are hoarding older-generation equipment

6.The Five Hotspots Where Food Prices Are Getting People Worried

(Bloomberg) — The world is racing to vaccinate its way out of the coronavirus pandemic, but another challenge has already emerged for some more vulnerable governments and economies. Global food prices are at the highest in more than six years, driven by a jump in the cost of everything from soybeans to palm oil because of demand from Communist China, vulnerable supply chains and adverse weather. Since the start of the year, protests have raged in Sudan, while anxieties over securing food contributed to strife in Lebanon and Tunisia, ground zero for the Arab Spring uprisings a decade ago. In India, farmers revolted against efforts to bring prices down. Russia and Argentina have restricted crop shipments to suppress prices at home.

7.Japan’s Factory Activity Grows at Fastest Pace in Two Years as Output

(Reuters) – Japan’s factory activity expanded at the fastest pace in over two years in February, a private-sector survey showed on Monday, as strong orders led to the first output rise since the start of the coronavirus pandemic. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) jumped to a seasonally adjusted 51.4 in February from the prior month’s 49.8 reading.

By 【Financial Team – Rosy Cloud】

News Collection: Totoro 、Kate、Lingken、Rosy Cloud

Proofreading: Tracy

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