3/5/2021 Financial News: CCP’s Ambitious GDP Target; Chips Shortage Spreads to Mobile Phone Industry

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1.Communist China GDP target for this year is more than 6%

This year’s government report said that the economic growth rate is a comprehensive indicator and this year it is expected to target more than 6%, taking into account the recovery of economic operation, is conducive to guide all aspects of focus on promoting reform and innovation, promote high-quality development.

Comment: CCP’s so-called GDP target always serves for their political purpose as you’ll never know the real data behind. The “two sessions” meetings in Communist China are a good opportunity for CCP members to show their democracy. The representatives will present many proposals that will occupy the main page of the major media for propaganda purpose but never be implemented.

2.Cotton futures prices soared 60%

As of March 3, 2021, the price of cotton futures is 16,385 yuan per ton. Calculated from the low point in the first half of last year, it has risen by about 60% so far. As cotton price has been rising, yarn prices also followed up and was increased to 24,235 yuan per ton, which was more than 30% higher than the low point in April 2020.

3.Communist China’s per capita grain possession is 474KG

Minister of Agriculture and Rural Affairs Tang Renjian talked about food security and said that we have maintained a continuous 17 years of abundance and had more than 0.65 trillion KG production over the past six years. The current per capita share of food in China is 474 kg while the international food standard security benchmark is 400.Food security can be fully guaranteed.

Comment: a total fake statement about the food abundance and per capita share of food, totally contradictory to their actual policy of fighting against food consumption.

4.Britain lifts more curbs on ‘dark’ trading to limit stocks Brexodus

LONDON (Reuters) – Britain’s Financial Conduct Authority said on Thursday it was lifting more curbs on “dark” trading, throwing down the gauntlet to the European Union after billions of euros of trading left London for Amsterdam in the wake of Britain’s departure from the bloc.

Dark trading refers to the use of platforms that allow institutional investors to trade shares without having to disclose a range of details on the transaction before it is executed.

5.Main chip and other power chips are out of stock

The global “shortage of chips” gradually spread from the automotive industry to the mobile phone industry, a number of mobile phone companies have said that the current supply of a variety of chips is quite tight.

6.Apple Faces UK Antitrust Investigation into App Store

U.K. antitrust authorities opened a probe into Apple Inc. and its App Store to examine whether the iPhone maker is abusing its market power by insisting on its own payment system to restrict competition.

The investigation was partially prompted by concerns from developers, the CMA said. Epic Games Inc., the maker of the Fortnite battle game, has previously complained that Apple removed its app after it tried to circumvent its app-purchase payment system.

By 【Financial Team – 小海星Starfish】
News Collection: 文罡
Proofreading: 小蚂蚁在行动

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