KEY POINTS
-A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar
-His remarks come ahead of a BRICS summit to be held in August in South Africa
-Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar
India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.
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1,487 comment(s).Last comment by IDQWE001 2023-10-04 18:00
87% of the people live in the global south ... And the global south has very good relations with China and look forward to trade with China so that they too can be tomorrow what China is today
When typical chinese has nothing to back-up their view, this is what normally they would do to manupulate us thru their own understanding of moral or racial card hijacking our emotion feeling of guilty.
You are right most of the CCP supporters trying to play race cards it manupulates all Chinese MUST support CCP. CCP does not represent 100% China. Communism and Socialism are not original from ancient China. Those are rubbish from Europe culture.
Some CCP dogs not even could master his ancient language, his parents must be shame on him.
CCP dogs could be communists, Coummunism and sociolism are failure system western rubbish.
Xi bring the country to wrong direction wolf warrior pushing neighbouring countries to strong and solid opponent. Real estate bubble burst, bad jobless rate, local government bad debts, unfinished housing projects, global supply chain restructuring etc. Man-made disaster by dictatorship self ego and arrogant politician Xi.
On the positive side I have seen videos of heroics, sacrifices, thankfulness, gratefulness, rescuers put themselves in danger. China likes that. China is a country likes to promote unity, positive values, brave unselfish ...I think it's a nice country where everyone treasures gratefulness, community spirit, unselfish behaviour, positive values.
The world already too much quarrels, fights, selfish behaviour, negative behaviour like these two malaysia I.diots.
In the present day and age, China is a united country with plenty of community spirits. U can see plenty of evidence whenever there is floods, earthquakes, covid, and natural disasters
Xi bring the country to wrong direction wolf warrior pushing neighbouring countries to strong and solid opponent. Real estate bubble burst, bad jobless rate, local government bad debts, unfinished housing projects, global supply chain restructuring etc. Man-made disaster by dictatorship self ego and arrogant politician Xi.
CCP dogs keep on telling voting system is no good, pity local chinese not eligible to vote and rape by government. Don't let CCo dogs steal your vote, cast your vote as responsible voter. Democratic system is better than dictatorship self ego and arrogant politician.
India did not contribute anything to BRICS. To have India still remain in BRICKS is prepared to be dragged down, better fire India soonest. Best if India to leave voluntarily before been asked to leave. That is really losing face for Modi.
Watch out. CCP real estate sector burning your ass soon.
No worry CCP dogs are very supportive to buy back all islamic bonds to avoid any default. The no.1 supporter is qqq, he will all in his money to support CCP real estate in Malaysia.
Watch out. CCP real estate sector burning your ass soon.
No worry CCP dogs are very supportive to buy back all islamic bonds to avoid any default. The no.1 supporter is qqq, he will all in his money to support CCP real estate in Malaysia.
qqq is very shmeful not to understand his ancient language and he is trying to cheat Malaysia investors that everything is good about CCP real estate sector. He is very shameful not to use his money to support CCP real estate sector but only lip service.
HONG KONG/BEIJING :Two creditors of China's Guangzhou R&F Properties have sued the property developer to seek a bankruptcy restructuring, notices in an official database showed, deploying a rare court tactic against a mid-sized firm of its kind.
While many developers, including R&F, have faced legal action by creditors for non-repayment, such restructuring requests to Chinese courts are uncommon, as government officials usually step in to mediate, developers and lawyers said.
Many of them, however, face winding-up petitions in Hong Kong and overseas jurisdictions.
Wednesday's notices showed that Guangdong Xiangyi Trading Co and Guangzhou Guangfeng Concrete Ltd filed the bankruptcy restructuring applications in the Guangzhou Intermediate People's Court, but gave no further details.
The creditor firms could not be reached for comment.
The dispute was over 20 million yuan ($2.79 million) worth of commercial paper, R&F said in a statement, adding it was not in insolvency and would seek legal measures to "resolutely" oppose the application.
It also said it has not received any relevant court document relating to the application.
R&F, which ranked No.20 in China in 2020 before the sector slipped into a debt crisis the following year, also owned several projects overseas, in places such as Britain and Malaysia before its liquidity problems.
Media, citing company database portals, have reported that the courts have so far ordered the freezing of a dozen assets of the developer.
The developer, which has sought to extend its debts onshore, also completed a scheme offshore last year to exchange its dollar bonds maturing through 2024.
The database on which the notices appeared is formally known as the National Enterprise Bankruptcy Information Disclosure Platform.
any country who can produce the kind of results like China over 70 years can feel proud and happy,...................................................no need to defame them .
Chinese healthcare stocks hit by stepped up anti-graft crackdown
SHANGHAI (Reuters) - A year-long slump in China's healthcare stocks has accelerated this week as an anti-corruption campaign gathers pace, threatening the sales of some drug makers and medical equipment producers.
The CSI Medical Services Index has lost more than 2% this month, taking losses for the year to 19% and heavily underperforming the benchmark CSI300 Index, which has risen 2% in 2023. Healthcare comprises 6.5% of the main index.
Selling in healthcare stocks such as Pharma giant Hengrui and medical equipment company Shenzhen Mindray Bio-Medical Electronics Co picked up over the past week, amid signs China is doubling down on efforts to eradicate rampant graft and bribery in sales practices.
Ten government bodies including the National Health Commission and the Ministry of Public Security kicked off a year-long anti-corruption campaign in the medical system in late July.
It represents a sharp escalation of a medical anti-corruption campaign that started years ago, while the sector had already been under pressure from a bulk-buying programme aimed at lowering drug prices.
"Campaigns against medical corruption have been going on for years ... but this round of crackdown is more forceful than previously," said Zhao Heng, founder of consultancy Latitude Health.
"The crackdown on corruption would have an obvious impact on drug sales, at least in the short term," he said, adding that pharmaceutical firms with unique or highly competitive products were less vulnerable.
Shares of Apichope Pharma , Allist Pharma, and Olymvax Biopharma have slumped between 20% and 30% since July 28, when China's top graft buster vowed "shock and awe" in the crackdown.
The companies' sales expenses were more than half of their revenue for the past two years, raising questions about sales practices.
China has cracked down on other sectors in the past, including tutoring, fintech, and property, wiping out trillions of dollars in the companies' market value.
"The anti-graft campaign is similar to crackdowns in the finance sector and internet platforms," said Zhang Kexing, fund manager at Beijing Gelei Asset Management.
"It will dent market sentiment, more or less," he said. "But in the long run, only by deepening reform can we solve the hidden problems."
At least 168 hospital chiefs have been investigated on suspicion of violating laws and regulations, double the number in 2022, healthcare information provider Saibailan reported.
At least 10 academic conferences were postponed in August.
The health commission said in May it would target sales activities such as using academic events as a channel to bribe doctors.
Pharma giant Hengrui is down 18% since July 28, losing almost 50 billion yuan ($6.94 billion) in market value in less than two weeks.
Anxious investors have been fielding questions to Hengrui over the impact of the anti-corruption campaign, and the company, whose sales expense is as high as a third of revenue, said it has always been compliant with regulations.
in the most important things.....................................China not very different from Singapore.........................both are governed according to Chinese traditions and Chinese values and Chinese culture.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Posted by IDQWE001 > 2023-07-18 09:23 | Report Abuse
KEY POINTS -A new BRICS currency is currently not on the agenda, said India's Foreign Minister S. Jaishankar -His remarks come ahead of a BRICS summit to be held in August in South Africa -Brazil and South Africa's leaders recently made statements about an alternative to the U.S. dollar India has shut down speculation in recent weeks that the BRICS nations were planning a common currency to derisk their economies from the kind of devastating sanctions that the United States has levied on Russia and other countries by leveraging the greenback's global dominance.