A woman kneeled down before Xi Jinping‘s motorcade as it passed through Sanming City on the 24th, but the motorcade continued to drive despite the “blocking of the imperial driver”.
The fire of China’s real estate, will burn to where? Experts tell you that this is the biggest variable in the future of Chinese real estate.
The mystery is revealed! The number of second-hand properties in Shanghai was suddenly “cut” by Chain Home, and tens of thousands of properties were taken off the shelves.
The Chinese Communist Party has played badly! The Biden administration’s first meeting with the U.S. and China since taking office was intended to be an opportunity to be arrogant, but instead the U.S. and the European Union have joined forces to resist. Secretary of State Blinken and European Commission Vice President Borrelli announced the restart of the U.S.-European dialogue on China.
Swedish fashion brand H&M refuses to use cotton from Xinjiang because of the Chinese government’s human rights violations against the Uyghurs, and the Chinese government has taken the opportunity to launch a boycott because of the EU sanctions. But the Chinese people are not giving in, H&M Beijing stores as usual queues.
Last hurrah for Chinese stocks? The Securities and Exchange Commission (SEC), the top securities regulator in the U.S., passed a new rule: Chinese companies that do not comply with audit rules will be delisted. The market value of A-shares evaporated two trillion in two days after Europe and the United States sanctioned the Chinese Communist Party.
Woman kneeling to stop Xi Jinping’s car? The convoy ignored and continued to drive
Recently, Xi Jinping, general secretary of the Communist Party of China, visited Fujian Province. The net rumor is that Xi Jinping’s motorcade was chased and caught by a dozen plainclothes policemen when a woman rushed to the motorcade to stop the car and cry out for justice. The team did not react to the sudden situation and continued to drive forward. A few days ago, the relevant video clip was exposed on overseas social media.
The local Time March 22 to 23, Xi Jinping returned to his former job in Fujian Province, “investigation and research”. On the first day, he visited Wuyi Mountain, and on the second day, he “inspected” the Sha County General Hospital in Sanming City, Yu Bang Village in Xia Mao Town, and the Sha County rural Property Rights Exchange, during which he also visited a local snack store.
A Chinese netizen recently posted a video clip in an online community showing Xi Jinping’s motorcade passing through Sanming, Fujian province, where the entire street and nearby square had been cleared, leaving only a police officer standing in the square to salute the approaching motorcade, with some people watching from a distance from the road.
As the motorcade was passing in front of the small square, a young woman in a pink blouse suddenly rushed out of the crowd and ran hard towards the convoy. Immediately afterwards, fifteen or sixteen people also broke into the shot to chase the woman in pink, among them were wearing police uniforms, but most were plainclothes officers.
The woman in pink rushed to the middle of the square and fell to her knees, looking like a petitioner who wanted to stop the car and “sue The Emperor. But before she had any chance to cry foul, she was picked up from the ground by the pursuing plainclothes police and dragged back to the blockade area away from the road.
The video was forwarded to overseas online social media platforms, attracting many Chinese netizens to watch and discuss.
Netizens chortled, “It’s over, it’s over, this city secretary is going to be criticized. “
According to public information, Xi Jinping has visited Sanming City 11 times in the past when he was in charge of Fujian “research”, this is Xi Jinping’s 12th visit to Sanming City. Official Chinese media reported that Xi Jinping led the reform of the collective forestry rights system in Sanming City in 2002 when he was governor of Fujian Province, a policy that was later rolled out nationwide.
Where is the real estate fire going to burn? This is the biggest variable of China’s real estate future
Real estate will always be a demographic behavior, which determines the trend of real estate. Economist Ru Song recently wrote an article analyzing China’s future real estate trends.
In the past two or three years we have seen the property market in places such as Shenzhen Dongguan hot, while the Northeast Hegang and other places sold houses at a cabbage price, the Beijing-ringed area of Yongqing property market also hit 70% off. 2020 is a year of super easy money, absolutely conducive to real estate, but some of the major cities in North China (second-tier cities, most third and fourth-tier cities needless to say) including Tianjin, Shijiazhuang, Zhengzhou, Jinan and other places of the property market sluggishness and year-on-year price declines.
The cause of this phenomenon is clearly no longer financial factors, but rather demographic factors (but also economic employment and other factors) at play. The change in the real estate environment is evident from the change in population numbers in the seventh census versus the sixth census in major northeastern cities.
Of the 21 major northeastern cities in the table, only four showed population growth in the seventh census compared to the sixth census, and 17 showed population contraction, with cities such as Qiqihar actually contracting by more than a quarter! And with population numbers shrinking throughout the three northeastern provinces, the real estate environment in the northeast is clearly deteriorating.
After seeing the 2020 newborn data, data experts believe that the peak in China’s total population has already occurred and will occur at least in the next few years, Ru Song said. Most cities on the mainland will be, or have been, caught in a negative population growth dilemma under the squeeze of multiple factors such as population migration and a very low birth rate.
Under the pressure of multiple factors, it is likely that real estate in most cities on the mainland will never again see an effective recovery, and real estate in these areas as an era is over – such is the cyclical nature of real estate, following the changes in population.
Ru Song also pointed out that real estate in first-tier cities, especially in the core areas of first-tier cities, is basically certain to have the potential to recover after the price hit because of its scarcity and thus its partial monetary function (meaning the function of storing wealth). The regional centers along the southeast coast are bound to see a recovery in the property market as they will also see new population inflows.
After the real estate cycle in mainland cities, houses will lose their liquidity, and without liquidity houses will lose their wealth properties, but mortgages will not disappear, meanwhile, more than 70% of residents’ wealth is reflected in real estate, and at this time real estate will turn from a wealth-creating factor to a poverty-creating factor in the past.
Southeast coastal cities still have liquidity in the property market, still have the wealth function, some cities will continue to promote the growth of residents’ wealth due to price increases, the value of each set of houses is up to millions or even millions. The direct result of such a division is a serious deterioration of the gap between the rich and poor residents of the southeast coast and the mainland, once the inflationary upside of the poor class will fall into a desperate situation, it will threaten social stability.
Will the nationalization policy be adopted to bridge the gap between the rich and the poor or will some cities be pushed to implement real estate taxes first? This is the biggest variable in the future.
The number of second-hand houses in Shanghai was suddenly “cut” by Chain Home, and tens of thousands of sets were taken off the shelves
According to the data on Chain Home’s official website, the number of second-hand property listings in Chain Home Shanghai was about 38,000 sets last week, and suddenly decreased by about half on March 20. The reporter learned from a chain home Shanghai store real estate agent, a large number of second-hand listings off the shelves with the new rules of the Shanghai second-hand housing, which began to be implemented last year.
According to the new rules, from December 15, 2020, the second-hand houses bought and sold in Shanghai must obtain the verification number and two-dimensional code representing the identity before listing, to truly sell the house in clear code. This reporter confirmed from several sources that the buffer period reserved for intermediary platforms by this new regulation has ended.
On the day of March 20, the number of second-hand properties in Shanghai suddenly showed only 16,000 sets.
Previously, the public data of Chain Home showed that from March 13 to 19, the number of second-hand property listings in Shanghai were all around 38,000 sets.
Photo: Chain Home official website
Chain Home Shanghai a store said, “According to the relevant policies, now the landlord to shelf listings, you need to upload the landlord’s ID card, real estate license or production transfer, many documents are not complete, or the house listing code has not been uploaded, chain home platform extranet is not displayed, so there is a large number of housing listings off the shelf.”
H&M refuses Xinjiang cotton, the Chinese Communist Party because of sanctions suddenly set off a wave of boycott
On March 24, the Communist Party’s “Central Committee of the Communist Youth League” microblogging account intensively posted an article, rehashing a statement issued by Swedish fashion brand H&M in October 2020 against human rights persecution in Xinjiang for not using Xinjiang cotton, and the Communist Party’s major official media went into overdrive to bombard H&M, calling for a universal boycott, and major e-commerce companies have been removed from the shelves.
“The Communist Youth League Central Committee issued a screenshot of the H&M Group’s “statement on due diligence” in English and Chinese on Weibo. According to the statement, the company is deeply concerned about allegations of forced labor and discrimination against minority religions in Xinjiang, and said it does not work with any garment manufacturers in the XUAR and does not source from the region.
“The Central Committee of the Communist Youth League” said in a message, “Boycotting Xinjiang cotton while trying to make money in China? You’re delusional!”
Subsequently, the “Central Committee of the Communist Youth League” also sent out two other tweets in quick succession.
On the evening of the 24th, CCTV and Xinhua News Agency, the official media of the Communist Party of China, also published commentary articles criticizing the brand for “actually eating China’s rice and smashing China’s pot”.
So far, Taobao, Jingdong, Tmall, Jindo, Vipshop, Suning Tesco and other platforms have also been unable to search for “H&M” stores and products.
H&M’s statement, which was posted on the company’s website in October 2020, is now being touted by Chinese Communist Party mouthpieces, perhaps in connection with the recent coordinated sanctions against Chinese Communist Party officials for human rights violations against Uighurs in Xinjiang.
On Monday (22), the European Union, the United Kingdom and Canada announced travel bans and asset freezes against four Communist Party officials and one entity for human rights violations against the Uighur people in Xinjiang, and the United States announced sanctions against two Communist Party officials.
U.S., Europe Resume China Dialogue, Blinken, Borrelli Announce
Secretary of State Antony Blinken and EU High Representative for Foreign Affairs and Security Policy and Vice President of the European Commission Josep Borrell meet on March 24 and issue a joint statement agreeing to restart the China dialogue between the United States and the European Union.
On October 23, 2020, then-Secretary of State Mike Pompeo held a conference call with Borrell. During the meeting, the two sides launched a new bilateral dialogue on China between the European External Action Service and the U.S. Department of State.
During the meeting, the two sides decided to restart the bilateral dialogue on China as a forum for comprehensive discussion of relevant challenges and opportunities,” the statement said. They acknowledged the mutual recognition that the relationship with China is multifaceted and includes elements of cooperation, competition and systemic adversaries. They also decided to continue to meet at the senior official and expert level within the framework of the dialogue to discuss such topics as reciprocity, including economic issues, resilience, human rights, security, multilateralism, and climate change, among other areas of constructive engagement with China.”
The statement added, “Secretary Blinken and High Representative Borelli affirmed that credible multiparty democracy, protection of human rights, and adherence to international law support stability and prosperity in the Indo-Pacific region. Both sides aim to work together to promote secure, sustainable, free and open maritime supply routes and supply chains, and look forward to deepening cooperation with like-minded partners where interests and approaches converge. “
Business as usual queues in H&M’s Beijing stores
Amid a wave of boycotts, the H&M store in Beijing’s Xidan Joy City is still open for business as usual, according to mainland media field interviews.
At around 19:30 on the evening of March 24, the media reporter entered the store and found that there were still many customers shopping inside the store, and there were also many customers queuing at the entrance of the fitting room. An H&M clerk, when asked about the boycott of Xinjiang products, replied, “Not quite sure.” At the same time, another female clerk in charge of the checkout at the cash register also said, “I just came to work, I don’t know (about this).”
A number of H&M store customers were asked, the answer is basically “I do not know”, “not clear”. A male customer who just finished shopping for H&M clothes said, “I read the news”, but did not want to answer too much.
Yang Xu, a commentator of Apollo.com, said that this is the same reason as “anti-American is work, stay in America is Life“, the Chinese Communist Party’s mouthpiece shouting in a high profile is the need of “political correctness”, so that they can get the taxpayers’ money from the Chinese Communist Party. After so many years of boycotting Japanese goods, there are still a lot of Chinese people who are attracted to Japanese goods.
The Last Hurrah for Chinese Stocks: SEC Passes New Rule: Chinese Companies That Don’t Follow Audit Rules Will Be Delisted
The Securities and Exchange Commission (SEC), the top U.S. securities regulator, said Wednesday (March 24) that it has adopted a measure that would allow U.S. stock exchanges to delist foreign companies if they do not comply with U.S. auditing standards.
The amendment would require foreign companies to certify to the SEC that they are not owned or controlled by a foreign government entity and would require them to disclose information about the audit process and government influence, the SEC said in a statement.
The SEC has adopted “interim final amendments” to ensure expeditious implementation of these requirements. The SEC is currently seeking public comment on which foreign companies are deemed not to meet U.S. auditing standards.
The amendments require the SEC to promulgate regulations requiring companies to file within 90 days of the promulgation of the regulations.
The SEC is still “actively evaluating” how to roll out the rest of the amendment’s requirements, including identification procedures and trading ban requirements, the statement said. Former U.S. President Donald Trump signed the Foreign Company Accountability Act last December, allowing U.S. exchanges to delist foreign companies that do not comply with U.S. auditing standards for three consecutive years.
As early as last July, Trump’s Working Group on Financial Markets recommended tightening exchange standards for listing Chinese companies to protect U.S. investors and avoid potential audit risks.
Chinese companies listed in the U.S. have long been treated differently by being able to issue shares in the U.S., but they are exempt from U.S. audit requirements like other foreign companies and U.S.-based companies because the Communist government is not allowed to inspect their audit work.
Communist authorities also put up a new hurdle last year by not allowing Chinese citizens and companies to comply with overseas securities regulators without permission from the Communist Party’s market regulator and other government agencies.
A-share market value evaporates $2 trillion in two days after Europe and the U.S. sanctioned the CCP
Several countries, including the United States and the European Union, have recently joined hands to sanction the Chinese Communist Party, causing the mainland stock market to continue to shake. In the past two trading days, the total market value of A-shares evaporated nearly two trillion yuan, with a net outflow trend on the capital side.
Some market analysis believes that the Western countries have joined hands to sanction the CPC to a certain extent, which has affected the market sentiment, among which is the uncertainty of the China-EU Investment Agreement. At present, the A-share market is not enough money-making momentum, and the willingness of funds to enter is weak.
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