MT5 standard platforms in the industry|Spark Global Limited

This type of fund is on fire! The income of 23 pension funds has exceeded 50% over the past three years. Are they necessary for pension?

Spark Global Limited reports:

Disclaimer: The relevant information comes from publicly available materials on the market and is for reference only and does not constitute a basis for investment decision-making. Investment is risky, and investment needs to be cautious.

If three years ago, everyone was dubious about this kind of fund, then three years later, this kind of fund has handed in a satisfactory answer.

On September 13, 2018, the first domestic pension target fund was established, marking the birth of a new type of publicly funded pension FOF. Today, the pension FOF fund has reached its third anniversary.

According to data from Dongcai, as of September 8, 125 pension FOF funds (different shares are calculated separately) have all achieved positive returns since their establishment.

Excluding funds less than 6 months old, among 114 comparable funds, 76 have a return of more than 20% since their establishment, accounting for 67%; 50 have a return of more than 30%, accounting for 44%, with a return rate exceeding There are 23 50% funds, accounting for 20%.

This good report card has also attracted more and more Christians to come in.

From the perspective of fund size, the total size of 110 pension FOF funds that disclosed interim reports at the end of the second quarter was 76.371 billion yuan, while the newly established undisclosed interim 20 funds issued a total of 6.306 billion yuan. The overall size of pension FOF funds exceeded 80 billion.

From the perspective of investors, individual investors are currently the main force in purchasing pension FOF funds. As of the end of the second quarter, the data of 110 funds disclosed in the interim report showed that 92 individual investors accounted for more than half, accounting for more than 80%; 39 funds held more than 90% of individual investors; 7 individuals The ratio even reaches 100%.

There are 6 pension FOF funds with more than 100,000 holders, namely:

It can be seen that in the past three years, everyone has recognized this type of pension FOF fund.

What is a pension FOF fund?

Picture/Picture Worm

Pension FOF fund is an innovative public fund that aims to pursue long-term and stable appreciation of pension assets, encourage investors to hold for a long time, adopt mature asset allocation strategies, and reasonably control the risk of investment portfolio fluctuations.

It can be divided into two categories:

1. Target date fund: Regarding the investor’s retirement date as the target, the investment allocation is adjusted according to the risk tolerance of different life stages. For example, if you are retiring in 2035, you can choose the pension FOF fund with 2035 in the fund name. This type of fund makes investment allocation according to the risk tolerance at different stages of life. The closer to the retirement time, the less high-risk assets such as stocks will be allocated, and the more low-risk assets such as debt will be allocated. The investment style gradually changes from aggressive at the beginning, to prudent, and finally to conservative. It is more suitable for novice investors or investors who have no time to care about account asset management.

2. Target risk fund: Named after the risk level, such as balanced, stable, active, etc. Investors can choose funds based on their own risk preferences. During the holding period, the risk of the fund remains basically unchanged. It is suitable for veteran drivers who can clarify their risk appetite.

Wind data shows that as of September 10, a total of 73 funds were issued on the target date, and a total of 83 target risk funds were issued. Pension FOF funds are sold on general fund sales platforms, and everyone can choose the best according to their own circumstances.

The last thing to say is that the pension FOF fund has a certain lock-up period. Take China Pension 2040 (FOF) as an example. The lock-up period after purchase confirmation is 3 years, during which no selling is allowed, and liquidity is subject to certain restrictions.

If you want to withdraw, you can only wait for the asset to be held for 3 years, and then withdraw after it expires. Some fund sales platforms have the function of making an appointment to withdraw, just follow the procedure.

But for investment for the purpose of pension, it is not a bad thing to set a certain liquidity limit. As the so-called special fund is dedicated, monthly fixed investment is fixed, and it is not a dream to prepare millions of pensions for the future!

Well, this issue of 3-minute financial management is here. I hope today’s content can help you who are confused about providing for the elderly.

 

Bitcoin eyes US inflation report, potential DOLLAR liquidity squeeze

Spark Global Limited reports:

Bitcoin’s recent bull market trajectory has waned after last week’s double-digit price drop. The cryptocurrency’s near-term prospects hinge on Tuesday’s U.S. inflation report. The leading cryptocurrency’s market cap fell 3% today to $44,500, after falling 11% last week. It was the biggest weekly percentage drop since May. Bitcoin’s near-term bullish outlook has waned due to last week’s decline, and the cryptocurrency could now consolidate between $44,000 and $48,000, according to Coinbase Institutional. Some chartists worry that the price structure is similar to that seen after bitcoin’s double-digit drop in the second half of April, and therefore will fall further.
If the US Consumer price index for August, due at 18:00 UTC on Tuesday, comes in at an annualised rate of more than 5 per cent, there could be a big sell-off. That could accelerate the Fed’s plans to start scaling back its liquidity-stimulating asset purchases.

Bitcoin fell from $58,000 to $30,000 in mid-May after official data released on May 12 showed U.S. CPI at a three-year high, sparking fears of tapering. The sell-off comes as China clamps down on cryptocurrencies and worries about the negative environmental impact of cryptocurrency mining.

“Inflation remains the key factor, especially when the base effect ends and THE CPI data starts to reflect the Fed’s true year-on-year picture,” QCP Capital said on its Telegram channel. “Arguably, the worst of the base effects are now over (as the chart below shows). If inflation remains above 5 per cent, hawks will certainly start expressing concern.”

Several Fed members have turned hawkish, signaling a willingness to begin tapering this year. Some observers fear that tapering could lead to a sharp drop in dollar liquidity in the fourth quarter, and could coincide with the Treasury issuing more debt to rebuild the Treasury General Account (TGA) after raising the debt ceiling.

According to the Wall Street Journal, the U.S. government could run out of cash and hit the debt ceiling between mid-October and mid-November. The Fed is expected to start tapering at the same time.

“The Treasury is likely to rebuild its cash balance quickly after the suspension of the debt ceiling, as the TGA’s new ‘equilibrium level’ appears to be around $800bn. This is a net liquidity withdrawal of nearly $600bn compared to the current situation and cannot be seen as good news for risk appetite, “analysts at Nordea Bank said in a weekly research note published on Friday.
Bitcoin and other traditional market risk assets have surged in the past 18 months amid a flood of liquidity from the Fed’s stimulus program. As a result, Messari’s Mira Christanto argues that the liquidity squeeze caused by Fed tapering and US Treasury actions could weigh on asset prices in general, and bitcoin in particular, as capital in the crypto market is opportunistic and tends to overreact.

Big investment banks expect risk aversion to increase in the coming weeks. Morgan Stanley expects U.S. stocks to fall as much as 15% by the end of the year, while Bank of America is forecasting a 6% decline, according to the Australian Finance Review.

The stock market drop could add to bearish pressure on bitcoin. Charles Edwards, founder of Capriole Investments, wrote on Twitter: “The world still sees Bitcoin as a risky asset.” “Almost every pullback in Bitcoin in 2021 has been associated with a pullback in the S&P 500 of minus 2% or more.” Last week, the S&P 500 fell 1.69 percent and Bitcoin fell 11 percent.

 

Cryptocurrencies and their usual heist! Are they really “indomitable”? What is a stablecoin?

Spark Global Limited reports:

Cryptocurrencies have gained widespread protection over the past two years due to an ongoing struggle for rights. The power of the people and the power of the people is deftly translated into “digital chaos” by central banks and chattering governments. However, the fact remains that cryptocurrencies exist, they still exist and continue to proliferate.

“Virtual currencies may have a long-term future, especially if these innovations drive a faster, more secure and more efficient payment system.” — Ben Bernanke
Bitcoin’s dominance is slowly fading — a window of opportunity for other cryptocurrencies; Its future, as a consummation of its controversial popularity, remains vibrant. At the time of writing, BTC is trading at $670.23 and is struggling to hold gains while Ether, another lame but major trader, is breathing in a turtle step at $290. 70 dollars. However, these digital assets are moving in a direction that investors are taking seriously.

Blockchain is a decentralized, non-corruptible, secure public ledger, and the evolution of the entire cryptographic system that survives on blockchain highlights many questions, which I answer one by one! Start with cryptocurrency theft!

Cryptocurrency theft:
About $1 billion of cryptocurrencies were stolen in the first half of 2018; According to an article on CNBC and a report curated by Carbon Black, it’s really easy to do. Malware used and plotted with customer service can cost as little as $1.04 on the dark web and $224 on the surface web. This means that the crypto ecosystem can be easily manipulated, directly depending on any frustrated but talented hacker.

“It’s amazing how easy it is to pull off a cybercrime like ransomware without any technical skills,” Rick McElroy, strategist at Carbon Black Security, told CNBC. He went on to quote “it’s not always the big evil organizations, it’s in anybody’s hands.”

The thefts come from criminal gangs that specialize in extorting exchanges and companies, and organized cartels are also responsible for the sudden death of cryptocurrencies. Because cryptocurrencies aren’t completely bulletproof, a fact known only to the audience of cryptographic concepts, someone sitting in any corner of the Atlantic in the world with good coding skills is likely to disentangle the digital currency for token rent payments.

Hypothetical medical IPO: AI diagnosis is starting

spark limited reports:

The application of AI in the medical field is in full swing, and is more and more favored by the capital market. Since this year, many Unicorn enterprises in the medical field of AI have launched an impact on the capital market. Recently, hypothetical medical technology Co., Ltd. (hereinafter referred to as “hypothetical medical”) submitted a prospectus to the Hong Kong stock exchange.

Established in 2016, hypothetical medical is committed to developing and deploying hospital level AI medical products, serving doctors in multiple departments in the hospital, and realizing disease screening, diagnosis, intervention, treatment, management and research.

Focus on AI medical imaging diagnosis

According to the prospectus, it is assumed that medical has three AI medical device products, inferread CT lung, inferread CT pneumonia and inferread DR chest, as well as two sets of AI enabled medical research solutions including inferscholar and infermatrix. In addition, hypothetical medical has a pipeline of products under development composed of nine AI medical devices at different development stages and the information system product infercare follow-up.

It is assumed that the core products of medical treatment are inferread CT lung and inferread CT pneumonia. According to the frost Sullivan report, with these two products, it is assumed that medical will become the first and only AI medical technology company in the world to obtain regulatory approval in China, the United States, the European Union and Japan.

As an AI medical device for detecting pulmonary nodules, inferread CT lung can help doctors find pulmonary nodules during CT scanning. While saving doctors’ film reading time, it can obtain visual images of relevant lesion structures that cannot be provided by traditional imaging methods; The special algorithm is used to provide reference for doctors with less experience. In addition, inferread CT lung can help doctors predict the progression of pulmonary nodules even when the volume of pulmonary nodules is still quite small or the appearance is blurred. At present, inferread CT lung has been used in more than 400 hospitals in nearly 20 countries.

In a full crossover, multi reader and multi case clinical trial in China, inferread CT lung shortened the image reading time by nearly 15%, and increased the detection sensitivity of nodules of 4 mm and above by more than 40%.

Another core product of novel coronavirus pneumonia, InferRead CT Pneumonia, is the AI diagnostic device for pneumonia. By analyzing the volume, location and density of possible pneumonia (including new crown pneumonia), and comparing the changes in lung lesions revealed by CT images, the doctor can help identify and discover these lesions quickly. At present, inferread CT pneumonia has been used in more than 65 hospitals in more than 10 countries.

In a multicenter clinical trial in China, the sensitivity of inferread CT pneumonia was 98.7%, while the specificity was 88.5%.

In addition to the above two products, hypothetical medical is seeking to expand its indications to include the identification and diagnosis of benign and malignant lung tumors, and develop products for preoperative planning and navigation of thoracic surgery.

For example, infraoperate thorax planning is a product under development for preoperative planning of thoracic surgery. The preclinical research will be completed in January 2021. It is planned to carry out clinical trials in China before the end of 2021. The application for registration of class III medical devices will be submitted to the State Food and drug administration before the first half of 2022, and it is expected to obtain the approval of the State Food and Drug Administration in the second half of 2022.

According to the frost Sullivan report, at present, there is no AI lung preoperative planning medical device approved in China, and there is only one product under development in China except infraoperate thorax planning.

In addition, the InferRead DR Chest for tuberculosis screening is expected, and clinical trials are expected to be conducted in China before 2021. The first third applications of medical devices were submitted to the SFDA in the first half of 2022, and the approval of the SFDA was approved in the first half of 2023. According to the Sullivan report, there is no AI tuberculosis diagnostic medical device approved in China, including four products, including the InferRead DR Chest.

Nearly 3 million people in the United States petitioned for $2,000 a month in stimulus checks

Spark Trader Limited reports:

Nearly 3 million people in the United States have now signed a petition calling for $2,000 a month in stimulus checks to support American families as the epidemic continues to spread.

The petition, first posted on Change.org last year, was started by Stephanie Bonin, a Restaurant owner in Colorado. The petition has been gaining traction, especially since may, when the mutant Delta virus began spreading in the United States.

Spark Global Limited reports:

Spark Global Limited reports:

Bonin wrote in his petition:

“I call on Congress to support families by immediately paying $2,000 per adult, $1,000 per child, and continuing to send regular checks during the crisis. Otherwise, laid-off workers, workers on temporary leave, the self-employed, and workers facing reduced working hours will struggle to pay their rent or make ends meet.”

In his petition, Bonin urged Congress to issue “immediate checks and recurring payments.” She wrote:

“Congress needs to make sure we don’t end up financially broke by doing our part to keep the country healthy.”

But Bonin goes further:

“Another check is not going to solve our problems. As we’ve said since the beginning of this outbreak, people need to know when the next check is coming. The best thing our government can do right now is to give people emergency money every month. Giving Americans a monthly stipend until they can stand on their own two feet could save our communities from financial ruin.”

Three rounds of stimulus checks have been issued since the outbreak began in the United States. Eligible Americans received $1,400 in stimulus checks last March. The Trump administration wrote two more stimulus checks over a nine-month period: one for $1,200 and the other for $600.

It is unclear whether there will be a fourth stimulus check. In May, the White House threw the ball to Congress, saying it would be up to Congress to decide on a fourth stimulus.

However, the petition shows that there is widespread support not just for a new round of stimulus, but for regular stimulus checks. Bonin’s petition received so much support that Change.org included it in its list of 10 petitions to change 2020.

On Wall Street, the biggest bull market in 20 years

Spark Trader Limited reports:

On Friday, data showed that US consumer confidence suddenly fell to its lowest level in a decade.

 

As fears grow over the spread of The Delta and Ramda viruses, large numbers of people are still refusing to be vaccinated against the coronavirus.

 

The stock market, however, was buoyant. On Friday, the S&P 500 closed at an all-time high of 4,468. The index is up 19% so far this year and 100% since its post-outbreak low last year.

Wall Street analysts, meanwhile, haven’t been this optimistic in 20 years.

About 56% of all s&p 500 recommendations are for shares, the highest since 2002.

 

This is not just the CASE in the US but also in Europe, where some 52 per cent of stoxx 600 companies are rated buy or flat, a 10-year high. In Asia, the share jumped to 75 per cent, the highest since at least 2010.

 

Despite worries about the Delta virus, the waning of federal Reserve stimulus and the current renewed geopolitical turmoil in Afghanistan, stocks have not been affected.

Edward Yardeni, president of Yardeni Research and a longtime Wall Street bull, noted that U.S. companies have accelerated the adoption of cutting-edge technology and increased productivity as a result of the pandemic. Edward says the economy is growing at 2 percent now and will grow at 4 percent in the next few years.

In his view, as long as the US avoids another massive economic blockade, the S&P 500 will rise 12 per cent from its current level, despite the challenges.

Todd Jablonski, chief investment officer at Global Asset Allocation, inc., said:

“It is not just financial conditions and low interest rates that are driving demand for risk assets, but fundamentals are expected to improve substantially by 2022.”

Optimism is growing on Wall Street, but desperation is growing on Main Street.

Data points to the Fed as the driving force behind the widening gap between rich and poor. Despite the massive expansion of the Fed’s balance sheet and the surge in asset prices, relatively little translated into wages or corporate after-tax profits, resulting in very little economic growth.

The surge in asset prices is still limited to people with “investable assets,” and about 90% of Americans have not benefited.

A bad start for gold in August, a harbinger of a reversal in September?

Spark Trader Limited reports:

The World Gold Council (WGC) expects gold to shine in September. FX Street analysts are not sure.

In July and August the WGC released two more interesting documents, following three previous reports. The first document is the Gold demand Trends report for the second quarter of 2021. The report shows that gold demand was almost flat in the second quarter (year on year), but fell by 10.4% in the first half of the year. Moreover, inflows into gold ETFs were small in the second quarter and July, only partially offsetting the large outflows in the previous quarter.

As a result, investor sentiment turned positive in the second quarter, which helped gold rebound after the first quarter.

Indeed, as the chart below shows, gold plunged 10% in the first quarter of 2021, followed by a 4.3% rebound in the second quarter, but not enough to offset the hit in the first three months of the year. Gold rose 3.6 per cent in July, but most of that gain was wiped out in August, when it fell 2.1 per cent in a single day on August 6 alone. As a result, gold is down more than 6 per cent so far this year.

How does Goldman Sachs explain the stock market’s record highs?

Spark Trader Limited reports:

Three weeks ago, in the midst of second-quarter earnings, the U.S. stock market was surprisingly slow to break through all-time highs, even as companies posted their strongest earnings season ever. Against this backdrop, there was a quiet shift in the outlook of some big investment banks, including Goldman Sachs.

Goldman sachs was the first to warn the market in late July that stocks were entering their worst seasonal cycle of the year. At one point, Scott Rubner, the bank’s senior trader who tracks market liquidity, went so far as to list 10 reasons why the bank thinks investors should prepare for an August pullback.

Yet the market’s outperformance so far in August has been all the way up to Goldman’s strategists, who have not only avoided the firm’s gloomy outlook but also hit record highs on almost half the days.

Rubner released his latest analysis last week, arguing that the stock market rally is due to one word: retail investors.

“This is perhaps the most important stock market move of 2021 so far,” he explains in his latest Tactical Flow of Funds report.

Non-standard “broken just”, entrusted or commission to take the responsibility, CMB and Daye trust to respond to 500 million products default

Spark Trader Limited reports:

Xin Jizhao, reporter of 21st Century Business Herald in Shenzhen, reported that the default of China Merchants Bank’s daye trust product on commission is not the first trust default in the industry, but it may have the biggest impact among non-standard defaults.

On August 16, China Merchants Bank responded by selling a 500 million yuan trust fund to provide 500 million yuan of financing to Jiutong Foundation Investment Co., LTD. In order to guarantee the performance of jiutong Foundation Investment Co., LTD. ‘s payment obligations, China Fortune Provides an irrevocable joint and several liability guarantee. The trust program expired on August 16, 2021.

“It is indeed against the rules.”

On August 16, China Merchants Bank and Daye Trust respectively responded to a 500 million yuan trust product default.

CMB responded that CMB’s commission product Daye Trust – Junrui no. 15 (Jiutong Land Development) project pooled fund trust plan, the original plan expires on August 14, 2021, credit measures include China Fortune Land Development Co., Ltd. to provide joint liability guarantee. Today, daye trust announced that the product did not receive the repurchase price payable by the financing party, and the guarantor did not perform the guarantee responsibility.

China responded that China happiness since the debt crisis, in order to protect clients’ interests, China merchants, as agencies and product active management of the trust to keep high frequency communication, urging him to do a good job in risk resolve to respect the beneficiary, the beneficiary conference committee vote on whether to join debt, preferred disposal scheme, maximize the interest of the customer.

CMB said it will closely monitor the communication between the active manager daye Trust and the Creditors’ Committee of financial institutions, and urge it to properly resolve issues such as the distribution of trust benefits.

On the same day, the daye Trust product publicity department responded that the company has joined the China Happiness Debt Committee, and everything is being promoted mainly at the pace of the debt committee. The company has done its duty as a trustee, and if there is any progress in the future, the information will be disclosed as soon as possible. “Because the whole industry is also required, just against the rules.”

Previous media reports said that the daye Trust · Junrui 15 project pooled fund trust plan, which was sold by CMB on a commission basis, has yet to distribute interest to investors for the second quarter of 2021. The trust expired on August 14 and investors have yet to receive a clear payment offer. Junrui no. 15 has a guarantor but no collateral, which is mainly “digested” by natural persons of private banks of China Merchants Bank Shanghai Branch and Beijing Branch, and partly undertaken by family trusts of Private banks of China Merchants Bank.

Non – standard “broken just” who to take responsibility

Overdue trust products have already occurred in individual regions and individual companies.

On July 19, the reporter learned that the 21st century economy, “guizhou zunyi sowing obviously by citic trust investment trust accounts receivable flow 2 period” trust plan after six months, the overdue financiers still hasn’t been completed reimbursement, citic trust has appealed to the court and the state development investment and related parties of multiple bank accounts, real estate, equity for property preservation before litigation, etc. Long before Citic Trust, Huarong Trust and Daye Trust sued Bozhou SDIC to the court because of the dispute over loan contract, and bozhou SDIC was also listed as the person subject to enforcement for trust-breaking due to the failure to fulfill the payment obligations ruled by the court.

On July 21, The Chinese capital industrial announcement, before the purchase of 120 million yuan “new era trust · [Heng New 63] collection fund trust plan”. The trust plan principal and part of the interest income are not recovered.

On August 11, media reported that “Minsheng Trust – Zhishin1071 China Jiasengyuan loan project pooled funds trust plan” exploded, and Minsheng Trust has told investors to postpone payment. “Zhishin1071” has a total existing scale of 1.35 billion yuan.

The particularity of Junrui no. 15 project lies in that most of the companies involved are “bigger” and have strong strength, including debtors, trust managers, distributors and other stars in the financial market.

More importantly, “when the trust lending, China Happiness has been in a panic, this background can also approve pure credit loans?” “Admits one industry insider.

Another trust industry also said that China Happiness default for so long, actually expected not to pay. The risks should have been warned.

15 jun farce, public information display, trust products was founded on August 14, 2020, after the establishment of the trust plan, the trustee in accordance with the provisions of the trust documents, the trust funds for the nine connections built to accepting its holdings of accounts receivable, the creditor’s rights of ding xing offers nine through inheritance promise according to the account receivable creditor’s rights transfer and the repurchase contract agreed repurchase of account receivable creditor’s rights. Jiutong Foundation Uses the transfer price of accounts receivable creditor’s rights to supplement daily working capital and subscribe for trust industry guarantee fund.

CMB subsequently issued a public company announcement said that CMB for junrui 15 project collection fund trust plan, the trust plan product issuer and active management of daye Trust. The trust funds will be used to finance 500 million yuan to Jiutong Foundation Investment Co., LTD. In order to guarantee the performance of the payment obligations of Jiutong Land Development Co., LTD., China Fortune Land Development Co., LTD., provides an irrevocable joint and several liability guarantee. The trust program expired on Aug. 16.

Another industry insiders also believe that after the release of the new regulations on asset management, trust companies can not “rigid payment”, but there is a fiduciary responsibility.

The debt crisis of China Fortune Broke out in late January 2021, and news of overdue trust and non-payment of commercial acceptance bills were reported in Succession. On February 1, China Happiness disclosed a debt overdue announcement, acknowledging the existence of overdue debt and other conditions.

However, China Happiness’s debt problems in the 2020 third quarter of the report has emerged. Last year’s third-quarter report showed that the company’s short-term borrowing and debt maturing within one year amounted to 94.02 billion yuan, up 55.6% from the end of the previous year. Long-term loans reached 65.21 billion yuan, an increase of 33.7% over the end of the previous year; There is another bond payable balance of 52.545 billion. While debt has climbed, cash on hand has dwindled. As of the third quarter of last year, its cash on hand was 36.68 billion yuan, down 10 percent from 2019, and its cash-to-debt ratio was just 0.39.

As for trust companies, Article 25 of the Trust Law stipulates: “The trustee shall abide by the provisions of the trust documents and handle trust affairs for the best interests of the beneficiary. The trustee, in managing the trust property, must fulfill his duties and fulfill the obligations of honesty, credit, prudence and effective management.”

As for the commission agencies, the notice on Regulating the Sales Agency Business of Commercial Banks also requires that the commercial banks should rate the risks of the commission products according to such factors as the investment scope, investment assets, investment proportion and risk status of the products. Commercial banks should carry out due diligence on the products to be sold on commission, and should not only take the product approval materials of the cooperative institutions as the basis for product approval.

As for the follow-up disposal of the product default, CMB announced that as of the date of this announcement, Daye Trust has not received the payment due from the financing party, and the guarantor has not performed the guarantee responsibility. Daye Trust has joined the bond Committee of China Fortune Land Co., Ltd. on behalf of the beneficiaries of the trust plan according to the voting results of the beneficiaries of the trust plan. According to the rules of the Debt Committee, the debt resolution plan of each creditor can only be known after the unified debt resolution plan determined by the debt Committee is announced. At present, the debt committee has not announced the debt solution. The company will, from the perspective of safeguarding the interests of the company’s customers, urge the active management party Daye Trust to properly solve the distribution of trust interests.

As of July 31, China Fortune has failed to repay the debt as scheduled with a total of 81.566 billion yuan. In order to resolve the company’s debt risks and accelerate the orderly operation of the company, The company is actively coordinating various parties to discuss a variety of ways to solve the current problem, The company said. Under the guidance and support of the local government, the company is developing a comprehensive risk mitigation plan as soon as possible. At the same time, the Financial institutions Creditors’ Committee is also actively coordinating and pushing forward the company’s debt rolutions, so as to gain the necessary time for the formulation and implementation of a comprehensive solution.

The ticket price of business class to the United States is 100,000 yuan again

Spark Trader Limited reports:

Yesterday, a photo was widely circulated on the Internet. It was said that Chinese students were queuing at Shanghai Pudong Airport to check in for flights to the United States after the United States opened up the entry of foreign students. Some flights were checked in and seen off for as long as kilometers.

Another person who saw them off said they waited in line for check-in at around 9 a.m. and didn’t get their boarding pass until around 1 p.m.

Mid – to late August, just goes to the United States school season. Since August 1, the United States has also lifted its restrictions on international students. Students with F/M visas will no longer be affected by the “travel ban” and can travel directly from China to the United States without a 14-day transit in a third country.

Behind a kilometre long line at Pudong Airport

The reporter understands consulting cathay Pacific aspects, at present from Beijing and Shanghai, through Hong Kong really strong demand, the flight to the United States airport check-in time and queue is very long, one is due to a student there may be a few parents accompanied to the airport check-in, during the outbreak of another shall submit the check-in is a lot more than usual.

According to reporter understanding, at present the study shall check, in addition to show me your ticket itinerary and passport visa, also need Chinese nucleic acid testing report, nucleic acid test report in English, the address and contact information of form in the United States, as well as the inbound and outbound travel check-up report, health declaration, opening time, and so on, in addition, each student mostly two and a half piece of checked luggage, This, coupled with the need to maintain a certain distance between queues during the outbreak, has led to the above kilometer-long check-in queues.

At the same time, due to the temporary closure of Nanjing Airport after the outbreak, international flights from Nanjing were also suspended, and passengers who originally chose to fly abroad from Nanjing also switched to Pudong Airport, resulting in a further increase in the number of passengers at Pudong Airport.

 

In response, airlines have introduced some temporary measures, including station-to-call check-in lines, where passengers who are not called can wait nearby, and encouraging early online check-in.

$100,000 business class ticket to the United States again

On the one hand, there is a sudden surge in demand due to the start of school in the United States, on the other hand, there is only a handful of flights between China and the United States.

As far as I know, the flight capacity between China and the US is still limited. There are less than 20 direct flights in operation every week, far from the more than one day before the outbreak.

Huang Kang, president of Delta Air Lines China, told reporters that this period is indeed the peak of sino-US routes. From the beginning of summer vacation, the passenger load factor of Sino-US routes has been gradually improving. At first, Chinese students returned to China from the US after vacation or graduation, and now Chinese students go to the US from China to study. Delta currently operates four flights a week on its China-U.S. route, and almost all of them are fully booked.

Demand for flights between China and the United States has also driven up ticket prices. According to the reporter’s understanding, in July from the Mainland of China through Hong Kong to the United States, economy class tickets can still buy 5,000 to 8,000 yuan, business class about 16,000 yuan, in August, economy class tickets have risen to 20,000 to 30,000 yuan, business class is up to 70,000 to 100,000 yuan.