3/23/2021 Financial News: CCP Strengthen Supervision on E-Cigarettes, Piglet Prices Have Skyrocketed

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1.Communist China to strengthen supervision on e-cigarettes

A clause is planned to be added to the Detailed Rules for the Implementation of the Tobacco Patent Sales Law of China as Article 65, saying that “regulations on e-cigarettes and other new tobacco products shall be implemented with reference to the relevant provisions on cigarettes in the regulations,” read a statement by the Ministry of Industry and Information Technology (MIIT) on Monday.

The stock price of RLX Technology Inc, one of the biggest manufacturers, distributors and sellers of e-vapor products in Communist China, dropped more than 40% before the market and its share price fell below the issue price of $12.

2.Chinese piglet prices have skyrocketed

Supply disruptions from the CCP virus epidemic have pushed Communist China’s piglet prices to record highs, the price of piglets have jumped to a record RMB 84 ($12) per kg on surging demand from farmers.

Saw the Communist China’s domestic hog herd shrink more than 30% last year as African swine fever tore through farms. When most pig farmers buy piglets, the capital cost they pay is much higher than before.

3.Chengdu’s property market policies are tightened again

On the evening of March 22, the official website of Chengdu Municipal Bureau of Housing and Urban-Rural Development issued the “Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market”. It mentioned 7 aspects including residential land supply, land price linkage, increased housing security, transaction management, financial supervision, market order supervision, and regulation of the main responsibility, and a total of 16 measures.

4.Monetary policy needs to strike a balance between supporting economic growth and preventing risks

“Monetary policy needs to strike a balance between supporting economic growth and preventing risks,” People’s Bank of China (PBOC) Governor Yi Gang said in a speech made at a closed-door session at the Communist China Development Forum on Saturday.

“Communist China’s macro leverage ratio is basically stable. We should provide positive incentives for economic entities and restrain the breeding and accumulation of financial risks.” Yi said Communist China’s monetary policy should focus on targeted support for key areas and weak links in the economy. There is still ample room to maneuver the monetary policy, which needs to create a suitable environment for deepening financial reform and opening up, he noted.

5.Delayed retirement has negative impacts on youth employment and fertility

On March 22, Xiangquan Zeng, director of the Communist China Institute for Employment Research at Renmin University of Communist China, said: The implementation of the delayed retirement policy will have an impact on the work and expectations of older workers approaching retirement. In particular, those who have a low level of education and are mainly engaged in manual labor will face greater difficulties in obtaining employment.

Moreover, the fertility rate in Communist China is already declining. After retirement is delayed, the elderly cannot help their children take care of children. Young people are more reluctant to have children.

6.Russia’s top diplomat starts China visit with call to reduce U.S. dollar use

Russian Foreign Minister Sergei Lavrov began a visit to China on Monday with a call for Moscow and Beijing to reduce their dependence on the U.S. dollar and Western payment systems to push back against what he called the West’s ideological agenda.

Lavrov, on a two-day visit to China, is expected to hold talks with his Chinese counterpart at a time when both countries’ ties with the administration of U.S. President Joe Biden are badly strained.

By 【Financial Team – Tracy】

News Collection: Wendy、Tracy

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