On March 8, Zai Lab, Yum China, Shengmei Semiconductor, BeiGene, and Chi-Med were included in the "pre-delisting list" by the U.S. Securities and Exchange Commission (SEC).
The event marks that the US SEC's regulation of Chinese concept stocks has officially entered the stage of legal enforcement.
In the following three months, the SEC has so far released eight batches of "pre-delisting lists" involving 149 companies.
When interviewed by Hong Kong 01, analysts from both Chinese and American banks in Hong Kong estimated that all Chinese concept stocks listed in the United States would be included in this list.
Hong Kong is obviously not immune to the struggle between China and the US.
Hong Kong stocks were under pressure in March, with the Hang Seng Technology Index as low as 3,400 points and the Hang Seng Index as low as 18,415 points.
The savings of wage earners have also been implicated by the sanctions. In the first quarter of this year, the MPF recorded a loss of 76.2 billion yuan, the worst quarterly result in two years, with an average loss of tens of thousands of yuan.
However, on the other hand, the capital market has ushered in unprecedented new opportunities, because sanctions have driven the accelerated return of Chinese concept stocks listed in the United States to Hong Kong to resist the risk of delisting.
However, the market is also worried about the quality of Chinese concept stocks, investor confidence and the liquidity of Hong Kong stocks, and Hong Kong must be prepared.
Series reports:
Perspective on the delisting of Chinese concept stocks: What is the role of Hong Kong in the ongoing financial war between China and the United States?
The differences between major powers have been difficult to resolve for many years, and Chinese stocks have gone through high mountains and low valleys
China's trillion-dollar foreign reserves are expected to transfer liquidity in Hong Kong's stock market
Strengthening the role of safe haven and bridge-builder, Hong Kong can demonstrate its new position as "China's international financial center"
The U.S. Securities and Exchange Commission (SEC) listed five U.S.-listed Chinese companies including BeiGene on the list of delisting risks under the Foreign Company Accountability Act, and Chinese concept stocks suffered a heavy setback.
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Twenty Years of Stolen MPF Hedging
On Thursday (June 9), the Legislative Council finally passed the Employment and Retirement Schemes Legislation (Offset Arrangement) (Amendment) Bill 2022 in the third reading with 72 votes in favour, 5 votes against and 12 abstentions. The MPF hedging arrangement will be abolished from 2025.
This bill, which has been delayed for nearly 20 years and has lasted for three terms of government, was finally passed, which means that the 3.8 million wage earners in Hong Kong will finally witness the end of this exploitative system in the foreseeable future, and the MPF contributions of countless wage earners will no longer be available. Used by employers to offset their severance and long service payments, finally correcting years of problems.
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The government has a preference for one over the other. Labor rights have always been at the bottom of the government's agenda, and the welfare and rights of wage earners will always have to wait a little longer.
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Historical and cultural landmarks should not be rescued at the last minute
In recent months, there have been a series of conservation-related issues in Hong Kong, both good and bad.
The joy is that Lui Shengchun, the Hong Kong City Hall and the Muslim chapel have become declared monuments; the worry is that the Jumbo Seafood Boat will leave Hong Kong and its use is unknown, Hong Kong may lose its cultural landmark, and the Grade 3 historic building No. 190 Nathan Road before the war. The building (hereinafter referred to as the western-style building) is facing demolition, and a conservation group is fighting for conservation.
The two examples of the western-style building and the seafood boat are private buildings and landmarks that evoke many characteristics of the past.
Can Hong Kong escape the vicious circle and find a way to coexist?
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The committee revealed that it had recently contacted the owner of No. 190 Nathan Road, and there was no immediate risk of demolition of the relevant historic building.
(Photo by Lu Ningmin)
The Li Jiaqi Incident Tests China's Governance Flexibility
At around 9:00 p.m. on June 3, Li Jiaqi, a "brother with goods" in the mainland, promoted Viennetta, a British brand ice cream produced by Unilever, in the live broadcast room.
In the meantime, the assistant brought out a "tank-shaped cake", and the two looked relaxed, but the live broadcast signal was interrupted immediately.
Since then, Li Jiaqi has not appeared in public again, but entering "Li Jiaqi" on Taobao can still display the products he recommended earlier, and many shops are still using it as a personal avatar for publicity.
Many groups who know the story behind "What happened to Li Jiaqi", especially those who are well versed in China's political red lines, have given their judgment based on past experience: Li Jiaqi is basically "cool".
Another group of young people who don't know what to do, especially Li Jiaqi's fans, are still trying to figure out the ins and outs of things.
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Li Jiaqi suspected that he had violated the taboo during the live broadcast on the evening of June 3, and brought out a tank-shaped cake. The live broadcast was immediately interrupted, and he immediately apologized.
(Weibo @李嘉奇)
The battle for the international seed industry: who dominates the human food supply?
The epidemic and the Russian-Ukrainian war have led to a rapid deterioration of the global food security situation, and some countries have successively resorted to food protectionism, prohibiting or restricting the export of certain types of food.
Agricultural resources have become the strategic focus, and seeds are the starting point of the agricultural industry chain, and the seed industry (ie, seed cultivation, promotion and sales) has naturally become a battleground for major powers.
The United States has been a leader in the "seed industry" for decades, and China, which started late in the field of commercial seeds, is catching up.
However, with the monopoly of giants and the widespread use of genetically modified seeds, it is not easy for China to achieve "recovery of the seed industry" and even "food independence".
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China's soybean imports account for 60% of global trade, and it is extremely dependent on the Americas for soybean production, almost all of which are genetically modified varieties.
(Getty Images)
Please pay attention to the 321st issue of "Hong Kong 01" e-Weekly Newsletter published on June 13, 2022. You can also
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