#Interview #MuddyDirtyWater
Financial writer Muddy Dirty Water: Money for blood, Hong Kong dried up. Now it's "keep the island, not the people"
Now that the national security law is passed, the stock market is actually thriving?
(11 Jul) After the enactment of the national security law, Hong Kong's stock market stayed bullish. Government officials presented this as proof that the "Hong Kong doomsday theory" was untrue. As an investor, what does Muddy Dirty Water [pen name] think? Why has the economy not been affected at all?
//the implications of 'keep the island, not the people' are getting stronger
//It's common knowledge that China's economic indicators aren't trustworthy.
//'street-stall economy'... actually means opening up the black market and sex industry again so that they become a part of the GDP. It's apparent that the situation isn't great.
//Hong Kong actually is a platform for Chinese capital
//The accountants' firms will also suffer because they're stuck between their clients and the Securities and Futures Commission... exposing falsified figures from private enterprises would become a violation of the national security law.
//how does China control private enterprises? It's through inserting the Party's provisions into the company's article of association (AoA).
//The renminbi is not internationally convertible... China's easiest way to get US dollars is from Hong Kong. This is Hong Kong's use for China.
//It's just like in 1997 when the British capital withdrew and Hong Kong capital stepped onto the plate. It's like the Second Handover: Hong Kong capital is now leaving and China's is coming up.
//With these sweeping policies, even if you didn't retreat, your money would run dry.
Full translation:
https://telegra.ph/Financial-writer-Muddy-Dirty-Water-Money-for-blood-Hong-Kong-dried-up-Now-its-keep-the-island-not-the-people-07-29
Source: Stand News
Translated by: Hong Kong Echo
Further reading:
HSBC takes to WeChat social network to deny āframingā Huawei in US investigations as it comes under attack in Chinese media
https://www.scmp.com/business/banking-finance/article/3094702/hsbc-takes-chinas-social-media-defend-its-collaboration-us
#NationalSecurityLaw #StockMarket #SecondHandOver #Capital #Finance #USDollars #ChineseCompanies
Financial writer Muddy Dirty Water: Money for blood, Hong Kong dried up. Now it's "keep the island, not the people"
Now that the national security law is passed, the stock market is actually thriving?
(11 Jul) After the enactment of the national security law, Hong Kong's stock market stayed bullish. Government officials presented this as proof that the "Hong Kong doomsday theory" was untrue. As an investor, what does Muddy Dirty Water [pen name] think? Why has the economy not been affected at all?
//the implications of 'keep the island, not the people' are getting stronger
//It's common knowledge that China's economic indicators aren't trustworthy.
//'street-stall economy'... actually means opening up the black market and sex industry again so that they become a part of the GDP. It's apparent that the situation isn't great.
//Hong Kong actually is a platform for Chinese capital
//The accountants' firms will also suffer because they're stuck between their clients and the Securities and Futures Commission... exposing falsified figures from private enterprises would become a violation of the national security law.
//how does China control private enterprises? It's through inserting the Party's provisions into the company's article of association (AoA).
//The renminbi is not internationally convertible... China's easiest way to get US dollars is from Hong Kong. This is Hong Kong's use for China.
//It's just like in 1997 when the British capital withdrew and Hong Kong capital stepped onto the plate. It's like the Second Handover: Hong Kong capital is now leaving and China's is coming up.
//With these sweeping policies, even if you didn't retreat, your money would run dry.
Full translation:
https://telegra.ph/Financial-writer-Muddy-Dirty-Water-Money-for-blood-Hong-Kong-dried-up-Now-its-keep-the-island-not-the-people-07-29
Source: Stand News
Translated by: Hong Kong Echo
Further reading:
HSBC takes to WeChat social network to deny āframingā Huawei in US investigations as it comes under attack in Chinese media
https://www.scmp.com/business/banking-finance/article/3094702/hsbc-takes-chinas-social-media-defend-its-collaboration-us
#NationalSecurityLaw #StockMarket #SecondHandOver #Capital #Finance #USDollars #ChineseCompanies
Telegraph
Financial writer Muddy Dirty Water: Money for blood, Hong Kong dried up. Now it's "keep the island, not the people"
#Exclusive #Interview #MuddyDirtyWater Financial writer Muddy Dirty Water: Money for blood, Hong Kong dried up. Now it's "keep the island, not the people" Now that the national security law is passed, the stock market is actually thriving? (11 Jul) Afterā¦
#Economy #Audit #Finance #ChinaPolicy #ChineseCompanies #US
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
Read more
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https://t.me/guardiansofhongkong/24299
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
Read more
ā¬ļøā¬ļøā¬ļøā¬ļø
https://t.me/guardiansofhongkong/24299
#Economy #Finance #Audit #ChinaPolicy #ChineseCompanies #US
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
The Trump administration advisers have proposed to President Trump that Chinese companies shall lose their listings on the US stock markets if they do not comply with US audit requirements by 2022.
The US Senate has already passed a bill in May 2020 requiring the Public Company Accounting Oversight Board (#PCAOB) to audit foreign listed companies. If the relevant companies fail to comply for three consecutive years, the companies will be forced to give up their listings. The Wall Street Journal has reported that the Presidentās Working Group (#PWG) on Financial Markets, chaired by Treasury Secretary Mnuchin, has announced at a briefing on August 6th that they have completed a report on how to protect American investors. At the briefing, the officials from the treasury department stated that Chinese companies currently listed on the US exchanges must disclose their accounts to the PCAOB, and that Chinese companies will be delisted from US stock markets if they fail to meet these audit requirements by 2022. In other words, Chinese companies currently listed in the US still have more than a year to prepare their audits.
According to a Reuters report, Chinese companies preparing to go public on the US exchanges must comply with the new audit regulations. The report also states that Chinese firms can opt for a āco-auditā through U.S. accounting firms with China-based affiliates.
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
https://thestandnews.com/finance/%E8%8F%AF%E5%BA%9C%E9%A1%A7%E5%95%8F-%E5%88%B0-2022-%E5%B9%B4%E4%BB%8D%E6%9C%AA%E7%AC%A6%E7%BE%8E%E5%AF%A9%E8%A8%88%E8%A6%81%E6%B1%82%E7%9A%84%E4%B8%AD%E8%B3%87%E4%BC%81%E6%A5%AD%E8%A6%81%E9%99%A4%E7%89%8C/
#Trump Administration Advisors: Chinese Companies Must Comply with US Audit Requirements by 2022 or Risk Getting Delisted
The Trump administration advisers have proposed to President Trump that Chinese companies shall lose their listings on the US stock markets if they do not comply with US audit requirements by 2022.
The US Senate has already passed a bill in May 2020 requiring the Public Company Accounting Oversight Board (#PCAOB) to audit foreign listed companies. If the relevant companies fail to comply for three consecutive years, the companies will be forced to give up their listings. The Wall Street Journal has reported that the Presidentās Working Group (#PWG) on Financial Markets, chaired by Treasury Secretary Mnuchin, has announced at a briefing on August 6th that they have completed a report on how to protect American investors. At the briefing, the officials from the treasury department stated that Chinese companies currently listed on the US exchanges must disclose their accounts to the PCAOB, and that Chinese companies will be delisted from US stock markets if they fail to meet these audit requirements by 2022. In other words, Chinese companies currently listed in the US still have more than a year to prepare their audits.
According to a Reuters report, Chinese companies preparing to go public on the US exchanges must comply with the new audit regulations. The report also states that Chinese firms can opt for a āco-auditā through U.S. accounting firms with China-based affiliates.
Source: Stand News #Aug07
#TreasurySecretary #Mnuchin
#PublicCompanyAccountingOversightBoard #PresidentWorkingGroups
https://thestandnews.com/finance/%E8%8F%AF%E5%BA%9C%E9%A1%A7%E5%95%8F-%E5%88%B0-2022-%E5%B9%B4%E4%BB%8D%E6%9C%AA%E7%AC%A6%E7%BE%8E%E5%AF%A9%E8%A8%88%E8%A6%81%E6%B1%82%E7%9A%84%E4%B8%AD%E8%B3%87%E4%BC%81%E6%A5%AD%E8%A6%81%E9%99%A4%E7%89%8C/
U.S. Sanctions 24 Chinese Companies Involved in South China Sea Dispute
On August 26, 2020, the U.S. Government added 24 Chinese companies which help the Chinese military construct artificial islands in the South China Sea to an Entity List that bans them from purchasing American products, including 5 companies under Chinese Communication Construction Company in Hong Kong. The Chinese officials have not replied to the issue yet but the website under Global Times posted the news on WeChat, with a title "Sudden Disturbance".
The list includes Beijing Huanjia Telecommunication Co., Chongxin Bada Technology Development Co., Shanghai Cable Offshore Engineering Co., Tianjin Broadcasting Equipment Co., and the research institutes of the China Electronics Technology Group Corporation and China Shipbuilding Group.
Entity List also includes several divisions of China Communications Construction Company, which is in the Hong Kong stock exchange market (No. 1800). China Communications Construction Company is a contractor, handling many of the infrastructure projects for China's āBelt and Roadā initiative around the world.
The U.S. State Department will impose visa restrictions on Chinese citizens who are āresponsible forā, or ācomplicit inā, either the large-scale reclamation, construction, or militarization of disputed outposts in the South China Sea.ā The family members of these sanctioned individuals may also face visa restrictions.
As the New York Times reports:
"The Chinese government has been rapidly building artificial islands in the disputed waters since 2013, dredging and constructing more than 3,000 acres of new land, including air defence and anti-ship missile features, the Commerce Department said in its announcement.
The island-building undermines the sovereignty of other countries in the region and comes despite the condemnation of the United States and other countries, according to the announcement."
#Sanction #SouthChinaSea #US #ChineseCompanies #HKStockExchange
Source: Apple Daily; New York Times #Aug26
https://hk.appledaily.com/china/20200826/7BPXGKYR4NBV5HZQTKTFSR6LGU/
On August 26, 2020, the U.S. Government added 24 Chinese companies which help the Chinese military construct artificial islands in the South China Sea to an Entity List that bans them from purchasing American products, including 5 companies under Chinese Communication Construction Company in Hong Kong. The Chinese officials have not replied to the issue yet but the website under Global Times posted the news on WeChat, with a title "Sudden Disturbance".
The list includes Beijing Huanjia Telecommunication Co., Chongxin Bada Technology Development Co., Shanghai Cable Offshore Engineering Co., Tianjin Broadcasting Equipment Co., and the research institutes of the China Electronics Technology Group Corporation and China Shipbuilding Group.
Entity List also includes several divisions of China Communications Construction Company, which is in the Hong Kong stock exchange market (No. 1800). China Communications Construction Company is a contractor, handling many of the infrastructure projects for China's āBelt and Roadā initiative around the world.
The U.S. State Department will impose visa restrictions on Chinese citizens who are āresponsible forā, or ācomplicit inā, either the large-scale reclamation, construction, or militarization of disputed outposts in the South China Sea.ā The family members of these sanctioned individuals may also face visa restrictions.
As the New York Times reports:
"The Chinese government has been rapidly building artificial islands in the disputed waters since 2013, dredging and constructing more than 3,000 acres of new land, including air defence and anti-ship missile features, the Commerce Department said in its announcement.
The island-building undermines the sovereignty of other countries in the region and comes despite the condemnation of the United States and other countries, according to the announcement."
#Sanction #SouthChinaSea #US #ChineseCompanies #HKStockExchange
Source: Apple Daily; New York Times #Aug26
https://hk.appledaily.com/china/20200826/7BPXGKYR4NBV5HZQTKTFSR6LGU/
The US Listed Six more Chinese Media Companies as Foreign Missions,
Hu Xijin: China may Retaliate Against US Media in HK
The US Secretary of State Mike Pompeo announced on Wednesday (October 21) that the State Department listed another six Chinese media companies in the US as foreign missions, estimated to make the US-China relations worsen. The Global Times editor Hu Xijin criticized that "the US has gone too far" and warned that "China must retaliate, and may implicate the US media companies in Hong Kong".
It was at least the fifth time to list Chinese organizations and media as foreign missions in six months. The Chinese media included the Yicai Global, Jiefang Daily, the Xinmin Evening News, Social Sciences in China Press, the Beijing Review, and the Economic Daily.
According to the Foreign Missions Act, foreign missions must obtain approval from the US for the list of declared personnel and their salary information, their assets owned or leased in the US, and the purchase or lease of any property.
#China #US #StateDepartment #ChineseCompanies #ChineseMedia #ForeignMissions #Pompeo
Source: Standnews #Oct22
https://bit.ly/2THDnTq
Hu Xijin: China may Retaliate Against US Media in HK
The US Secretary of State Mike Pompeo announced on Wednesday (October 21) that the State Department listed another six Chinese media companies in the US as foreign missions, estimated to make the US-China relations worsen. The Global Times editor Hu Xijin criticized that "the US has gone too far" and warned that "China must retaliate, and may implicate the US media companies in Hong Kong".
It was at least the fifth time to list Chinese organizations and media as foreign missions in six months. The Chinese media included the Yicai Global, Jiefang Daily, the Xinmin Evening News, Social Sciences in China Press, the Beijing Review, and the Economic Daily.
According to the Foreign Missions Act, foreign missions must obtain approval from the US for the list of declared personnel and their salary information, their assets owned or leased in the US, and the purchase or lease of any property.
#China #US #StateDepartment #ChineseCompanies #ChineseMedia #ForeignMissions #Pompeo
Source: Standnews #Oct22
https://bit.ly/2THDnTq
#Sanction #US
#Trump Signs Executive Order to Ban Investment in 31 #PLA related Companies
The US President Donald Trump has signed an executive order prohibiting Americans from investing in 31 Chinese companies allegedly tied with the Peopleās Liberation Army (PLA), including China Mobile, China Telecom, and the China Aviation Industry Corporation, covering industries such as telecommunication technology, aerospace, shipbuilding, and construction.
This executive order will take effect on Jan 11, 2021. All companies listed by the U.S. Department of Defense as owned or controlled by the Chinese military, are banned from US corporate, pension and personal investments.
The executive order covers stocks, funds, and derivatives. U.S. investors who hold these securities are required to sell them before November next year. In addition, investors will have 60 days to clear their holdings for any Chinese companies added to the list in the future.
#US #ChineseCompanies #DonaldTrump #InvestmentBan #ExecutiveOrder
Source: Stand New #Nov13
https://bit.ly/2V57x3v
#Trump Signs Executive Order to Ban Investment in 31 #PLA related Companies
The US President Donald Trump has signed an executive order prohibiting Americans from investing in 31 Chinese companies allegedly tied with the Peopleās Liberation Army (PLA), including China Mobile, China Telecom, and the China Aviation Industry Corporation, covering industries such as telecommunication technology, aerospace, shipbuilding, and construction.
This executive order will take effect on Jan 11, 2021. All companies listed by the U.S. Department of Defense as owned or controlled by the Chinese military, are banned from US corporate, pension and personal investments.
The executive order covers stocks, funds, and derivatives. U.S. investors who hold these securities are required to sell them before November next year. In addition, investors will have 60 days to clear their holdings for any Chinese companies added to the list in the future.
#US #ChineseCompanies #DonaldTrump #InvestmentBan #ExecutiveOrder
Source: Stand New #Nov13
https://bit.ly/2V57x3v