Xi jinping has gone bonkers

[syed putra]

What is his aim? Nationalisation?

Chip giant's IPO hit by Beijing crackdown on business​

Published8 hours ago
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IMAGE SOURCEGETTY IMAGES
Chinese electric car maker BYD's plan to sell shares in its computer chip making unit has been suspended, the latest share offering to be hit by Beijing's crackdown on businesses.
The listing has been put on hold due to a regulatory investigation into the law firm advising the company.
The plan to list on Shenzen's Nasdaq style market ChiNext was filed in May.
The suspension comes amid a broader regulatory tightening on industry by Chinese authorities.
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Over the weekend, the Shenzen Stock Exchange said Beijing Tian Yuan Law Firm, one of China's biggest legal services companies, was being investigated in relation to the listing.
It said the firm, which has been an advisor for BYD Semiconductor's planned initial public offering (IPO), was being investigated by China's Security Regulatory Commission but gave no further details.

BYD Semiconductor had aimed to raise at least $421m ($309m) from the sale of shares.
It planned to invest the money back into the business as global carmakers struggle with a shortage of computer chips
The firm is China's biggest maker of microcontroller chips for vehicles.

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Microcontrollers are vital components in modern cars, used for everything from seats and windows to steering and anti-lock brakes.
BYD Semiconductor competes directly with major chip makers including Germany's Infineon and Rohm Semiconductor in Japan.
Parent company BYD is China's biggest car maker by market valuation and is backed by US investment veteran Warren Buffett.

BYD is the latest Chinese company to have its plans up-ended as Beijing tightens regulations on everything from technology giants to insurance providers.

 

[tanwahtiu]

When GOP investigate Google, Facebook, Amazon for breaching anti trust law must praise GOP for intervene these companies.

When CCP also do the same it become CCP are bad gahmen.

Go fuck yrslf...

 

[laksaboy]

Either China degenerates into a Greater/Western North Korea, or someone within the CCP will get rid of him.

Of course, if he tries to attack Taiwan, it helps to speed up the process.

 

[LordElrond]

What is his aim? Nationalisation?

Chip giant's IPO hit by Beijing crackdown on business​

Published8 hours ago
Share

IMAGE SOURCEGETTY IMAGES
Chinese electric car maker BYD's plan to sell shares in its computer chip making unit has been suspended, the latest share offering to be hit by Beijing's crackdown on businesses.
The listing has been put on hold due to a regulatory investigation into the law firm advising the company.
The plan to list on Shenzen's Nasdaq style market ChiNext was filed in May.
The suspension comes amid a broader regulatory tightening on industry by Chinese authorities.
ADVERTISEMENT

Over the weekend, the Shenzen Stock Exchange said Beijing Tian Yuan Law Firm, one of China's biggest legal services companies, was being investigated in relation to the listing.
It said the firm, which has been an advisor for BYD Semiconductor's planned initial public offering (IPO), was being investigated by China's Security Regulatory Commission but gave no further details.

BYD Semiconductor had aimed to raise at least $421m ($309m) from the sale of shares.
It planned to invest the money back into the business as global carmakers struggle with a shortage of computer chips
The firm is China's biggest maker of microcontroller chips for vehicles.

ADVERTISEMENT


Microcontrollers are vital components in modern cars, used for everything from seats and windows to steering and anti-lock brakes.
BYD Semiconductor competes directly with major chip makers including Germany's Infineon and Rohm Semiconductor in Japan.
Parent company BYD is China's biggest car maker by market valuation and is backed by US investment veteran Warren Buffett.

BYD is the latest Chinese company to have its plans up-ended as Beijing tightens regulations on everything from technology giants to insurance providers.

Wise move. Xi is indeed astute in not allowing a Chinese chipmaker to fall into control of unknown foreign shareholders. They should nationalise shares held by Buffet who acts in cohoot with the US Govt.

 

[whoami]

Just like PAP. Not all policies by Chicom are bad. So long its good for the citizens the garment should intervene and make things right.

 

[syed putra]

Wise move. Xi is indeed astute in not allowing a Chinese chipmaker to fall into control of unknown foreign shareholders. They should nationalise shares held by Buffet who acts in cohoot with the US Govt.

Buffet is just a shareholder. He is not even a board member.
Reason for listing is to raise cash to make even more chips.

 

[pvtpublic]

Just like PAP. Not all policies by Chicom are bad. So long its good for the citizens the garment should intervene and make things right.

how is preventing the listing of a chip maker good for the citizens? the money raised was to go back into further production and development.

now the average citizen will have to wait even longer to get a car if chip companies can't raise funds to expand production.

so ask you specifically: is this a good or bad policy to halt the listing of a chip maker?

 

[whoami]

how is preventing the listing of a chip maker good for the citizens? the money raised was to go back into further production and development.

now the average citizen will have to wait even longer to get a car if chip companies can't raise funds to expand production.

so ask you specifically: is this a good or bad policy to halt the listing of a chip maker?

Actually i am refereg to some past policies like recent crackg down on the 120billion tuition industry.

 

[syed putra]

Hermes, Gucci fear crackdown under Xi’s ‘common prosperity’ push​

Nikkei
-
August 24, 2021 10:35 AM
46Shares

28

17

TOKYO: Luxury brand houses like Hermes and Louis Vuitton have enjoyed an incredible run in China, supported in part by Deng Xiaoping’s “get rich first” policy.
But this is to be no more. Chinese President Xi Jinping has stepped up his call for “common prosperity,” sending shudders through luxury goods vendors, which worry that China’s rich will not be able to splurge on US$3,000 bags.

The fear was palpable on the stock market last week. Shares of Paris-listed Kering, owner of the Gucci brand, slumped 17%. Switzerland’s Richemont, the company behind such names as Cartier and Piaget, sank 14%.



LVMH Moet Hennessy Louis Vuitton and Hermes slid 13% and 8%. Makers of high-end cars were hit as well, with Porsche down 10% and Ferrari 6%.
The catalyst was Xi’s call for “common prosperity” as part of “high-quality economic development” last week at a meeting of the Chinese Communist Party’s Central Committee for Financial and Economic Affairs.
The committee called for adjusting “excessive incomes” and redistributing wealth that has become overly concentrated in the hands of a small number of people.
This has set off speculation that luxury brands are now in the crosshairs of Chinese authorities after clampdowns on the technology and education industries. If the sector becomes a target, the rich may no longer be able to spend as freely on such indulgences.

This concern reverberated in the European stock markets where the makers of these products are listed.
“If redistributing wealth under the mantle of common prosperity results in a large middle class, that would be a positive for the Chinese economy in the medium to long term,” said Naoto Saito, chief researcher at the Daiwa Institute of Research and an expert on the Chinese economy.
Still, “recent efforts by Chinese authorities to bolster regulations have put socialist policies front and centre, like an increased focus on state-owned enterprises,” Saito said. China in recent months has been cracking down on lucrative tech companies and on tutoring services, which have led to a surge in education costs in the country.
Demand for luxury goods also took a hit at the height of Xi’s anti-corruption campaign. The idea of common prosperity would likely squeeze the wealth held by China’s top echelons, as would a greater push for social and economic equality.
“It’s still unclear whether this redistribution of wealth will happen at once or in stages,” a source at an asset management company said.
Increased pressure on China’s wealthy could impact Japanese companies as well.
Toyota Motor sold roughly 710,000 vehicles under its luxury Lexus brand globally in 2020, down 6% on the year.
The Chinese market was critical to easing the blow, with sales there jumping 11% to 225,000 and partly offsetting the drop in North America, Europe and Japan.
Japanese department stores also relied heavily on luxury-brand items sold to tourists from mainland China before the coronavirus spread worldwide. Such spending is unlikely to fully recover even after the pandemic is brought under control.

 

[winners]

Winnie had just upped the ante:

Hong Kong proposes ban on 'anti-national' movies​

Under legal amendments, even previously given approval for movies deemed to endanger national security may be revoked​

Hong Kong on Tuesday revealed a draft of legal amendments seeking to ban movies deemed to be against national security interests.

The proposed bill on film censorship is meant to "ensure more effective fulfilment of the duty to safeguard national security" as required by China on "safeguarding national security" in Hong Kong, the regional government said in a statement.

It added that the law would "prevent and suppress acts or activities that may endanger national security."

The bill is scheduled to be tabled in the region's Legislative Council, or LegCo, next Wednesday..........

Source: https://www.aa.com.tr/en/asia-pacific/hong-kong-proposes-ban-on-anti-national-movies/2344828

 

[tanwahtiu]

Hermes, Gucci fear crackdown under Xi’s ‘common prosperity’ push​

Nikkei
-
August 24, 2021 10:35 AM
46Shares

28

17

TOKYO: Luxury brand houses like Hermes and Louis Vuitton have enjoyed an incredible run in China, supported in part by Deng Xiaoping’s “get rich first” policy.
But this is to be no more. Chinese President Xi Jinping has stepped up his call for “common prosperity,” sending shudders through luxury goods vendors, which worry that China’s rich will not be able to splurge on US$3,000 bags.

The fear was palpable on the stock market last week. Shares of Paris-listed Kering, owner of the Gucci brand, slumped 17%. Switzerland’s Richemont, the company behind such names as Cartier and Piaget, sank 14%.



LVMH Moet Hennessy Louis Vuitton and Hermes slid 13% and 8%. Makers of high-end cars were hit as well, with Porsche down 10% and Ferrari 6%.
The catalyst was Xi’s call for “common prosperity” as part of “high-quality economic development” last week at a meeting of the Chinese Communist Party’s Central Committee for Financial and Economic Affairs.
The committee called for adjusting “excessive incomes” and redistributing wealth that has become overly concentrated in the hands of a small number of people.
This has set off speculation that luxury brands are now in the crosshairs of Chinese authorities after clampdowns on the technology and education industries. If the sector becomes a target, the rich may no longer be able to spend as freely on such indulgences.

This concern reverberated in the European stock markets where the makers of these products are listed.
“If redistributing wealth under the mantle of common prosperity results in a large middle class, that would be a positive for the Chinese economy in the medium to long term,” said Naoto Saito, chief researcher at the Daiwa Institute of Research and an expert on the Chinese economy.
Still, “recent efforts by Chinese authorities to bolster regulations have put socialist policies front and centre, like an increased focus on state-owned enterprises,” Saito said. China in recent months has been cracking down on lucrative tech companies and on tutoring services, which have led to a surge in education costs in the country.
Demand for luxury goods also took a hit at the height of Xi’s anti-corruption campaign. The idea of common prosperity would likely squeeze the wealth held by China’s top echelons, as would a greater push for social and economic equality.
“It’s still unclear whether this redistribution of wealth will happen at once or in stages,” a source at an asset management company said.
Increased pressure on China’s wealthy could impact Japanese companies as well.
Toyota Motor sold roughly 710,000 vehicles under its luxury Lexus brand globally in 2020, down 6% on the year.
The Chinese market was critical to easing the blow, with sales there jumping 11% to 225,000 and partly offsetting the drop in North America, Europe and Japan.
Japanese department stores also relied heavily on luxury-brand items sold to tourists from mainland China before the coronavirus spread worldwide. Such spending is unlikely to fully recover even after the pandemic is brought under control.

These branded names are just money laundry businesses.

Rich buy the shares of the companies and buy these bullshit expensive products. The share remains high becos the rich buy them.

 

[congo9]

China can't have it everything under their control.