3/25/2021 Financial News: SWIFT Cooperates With CCP Funded Institutions; CCP Tech Stocks Slump

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1.SWIFT and Four CCP Funded Institutions to Establish Jointly Set Up Financial Gateway Company

SWIFT establishes Financial Gateway Information Services Ltd. as a joint venture with four CCP institutions to provide financial gateway services to users, including the establishment and operation of a local network centralization point for financial messaging services and the establishment and operation of a local database. According to the official website of the Central Bank of Communist China, it is to further improve the level of cross-border financial networks and information services, to protect the legitimate rights and interests of SWIFT (Society for Worldwide Interbank Financial Telecommunication) users.

2.Prices of Industrial Raw Materials Went Up Rapidly

Industrial metals, textiles and chemical fibers and other industrial raw materials prices have risen sharply recently in Communist China, and iron ore and other bulk commodities are hitting a new high. Many industries are affected, especially for some small and medium-sized enterprises as they face increases in prices of their supplies while having difficulty raising the prices of their products for sale. It is expected that prices of raw materials will remain high for a foreseeable future, resulting in inflation risks that may further cause issues with small and medium-sized enterprises in Communist China.

3.The Leading Cooking Oil Company in Communist China Have Lower-than-Expected Performance After Listing for One Year

On March 24, the 2020 annual report of Jinlongyu, the leading cooking oil company in Communist China, was released. Some brokerages believe that Jinlongyu’s Q4 2020 results fell short of expectations. Jinlongyu changed the purposes of nine fund-raising projects involving 470 million. The total market value of Jinlongyu has evaporated over 300 billion yuan in the last two months.

4.44 Senior Management of 17 CCP State-Owned Companies such as CRRC Corporation, Poly Group Have Been Appointed and Removed

Forty-Four heads and senior management of 17 CCP State Owned Companies have been removed or appointed. Companies such as the Communist China Poly Group Co., Ltd., CRRC Corporation, the Communist China National Building Materials Group Co., Ltd., the Communist China Railway Engineering Group Co., Ltd. have seen changes in senior management.

5.CCP tech stocks slump as U.S. SEC begins rollout of law aimed at delisting

Shares in dual-listed CCP companies fell sharply on Thursday in Asia after the U.S. securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards.

The move by the Securities and Exchange Commission (SEC) adds to the unprecedented regulatory crackdown in Communist China on domestic technology companies, citing concerns that they have built market power that stifles competition.

By 【Financial Team – Thiaoouba Prophecy】

News Collection: 文罡

Proofreading: Tracy

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