9/2/2021 Financial News: Godfather of Chaoshan Capital Liu-Shaoxi’s 85 Billion Empires Fell; 11 Online Car-Hailing Platform Companies Interviewed by Regulators

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1.Godfather of Chaoshan Capital, Liu Shaoxi’s 85 Billion Empires Fell

Liu Shaoxi is known as the “Godfather of Chaoshan Capital” and created the “Yihua” business empire. He once has assets of 85 billion yuan. In the 2019 “Hurun Report”, Liu Shaoxi ranked 531 with a net worth of 7.5 billion yuan. Liu Shaoxi is quite politically conscious. In 1993, he established the first party branch of a private enterprise. In 2004, Yihua Wood entered the A-share market and became the first listed company in Shantou. Now its assets valued at 813 million yuan are about to be auctioned at a discount of 5.6 percen

2.Guangzhou Will Open 6 Self-Driving Bus Lines

Guangzhou plans to open 6 self-driving convenient lines in phases, and plans to be equipped with 50 self-driving vehicles. The specific route settings and travel plan will be adjusted according to the improvement of the route’s travel conditions, such as the openness of the test road, the capacity of the road or vehicles, and the passenger flow of the route. The travel plan may be adjusted appropriately according to the actual situation. In the future, we will also innovate business forms based on market demand and explore new forms of future public transport services.

3.Reduction of Discounted Bank Bills, Credit Investment Focuses on Manufacturing and Small Businesses

Choice data shows that as of August 31, among the 38 listed banks that disclosed discounted bills data, 24 banks’ discounted bills accounted for a decline in total loans compared to the end of 2020, and 19 listed banks showed an upward trend. The discounted bill balances of Bank of Nanjing, Bank of Changshu, Bank of Jiangsu, Agricultural Bank, Industrial and Commercial Bank of China, Bank of Chongqing, and Industrial Bank have reduced by more than 15% compared to the end of 2020, and have been reduced by 98.32%, 98.28%, 34.83%, and 32.45% respectively. , 20.57%, 16.92% and 15.20%.

4.Hainan Releases Implementation Plan to Implement Financial Support to Comprehensively Deepen Reform and Open Up

The Hainan Provincial Government issued the “Implementation Plan” to improve the convertibility of the renminbi, improve the Hainan financial market system, expand the opening up of Hainan’s financial industry, increase the innovation of financial products and service methods, improve the level of financial services, and strengthen financial supervision and supporting measures. In this regard, 89 measures have been introduced, and a list of 24 key financial projects supporting Hainan’s comprehensive deepening of reform and opening up has been listed.

5.Five Departments Interviewed 11 Online Car-Hailing Platform Companies Including Meituan Travel and Cao Cao Travel

According to a news from the Ministry of Transport on September 2, the Ministry of Transport, in conjunction with the Central Cyberspace Affairs Office, the Ministry of Industry and Information Technology, and the Ministry of Public Security and other members of the Inter-Ministry Joint Conference on Coordination and Supervision of New Transport Business Forms 11 online ride-hailing platform companies, including Didi Chuxing, etc., conducted joint interviews. The interview pointed out that some platform companies used a variety of marketing methods to disrupt the fair competition market order and affect the safety and stability of the industry.

6.Three Departments Promulgate Tax Policies for Imported Exhibits Sold During the China International Trade in Services Fair

The Ministry of Finance and other departments issued a notice on the tax policy for imported exhibits sold during the China International Trade in Services Exhibition. For the import exhibits sold by each exhibitor of the Service Trade Fair during the exhibition period, import duties, import value-added tax and consumption tax shall be exempted according to the upper limit of the quantity or amount specified in the appendix. For the imported exhibits sold by each exhibitor of the Service Trade Fair during the exhibition period, import duties, import value-added tax and consumption tax are exempted.

7.Chinese Pork-Related Stocks Evaporate 75 Billion U.S. Dollars

After experiencing huge losses caused by African swine fever, China’s pork supply has recovered, evaporating about 75 billion US dollars in the market value of China’s major pork-related stocks. The possibility of “peak”. An analysis by the Financial Times based on Bloomberg data showed that while the market value of large pork and feed stocks fell from their peak in February, Chinese hog futures have fallen by more than 50% since they began trading earlier this year.

8.Shanxi Province Received 4.996 Billion Yuan Of Investment from The Central Budget In The Field Of Water Conservancy

Shanxi Province will invest 4.996 billion yuan in the central budget for water conservancy in 2021, an increase of 47.46% over the previous year. The investment in the central budget issued this year in the water conservancy sector is mainly used for the construction of silt dams and sand barriers in the Yellow River Basin and the Yellow River Basin. At present, the investment in the central budget issued in the first two batches has been decomposed and forwarded to the project unit in accordance with the prescribed time limit.

【G Translators- Financial Team】
Author: Sycamore