Tagged: international

International oil prices hit a new high

In early trading on June 22, the oil sector soared collectively. As of press time, Tongyuan Petroleum rose 15.89%, Hengtai Aipu, China National Offshore Oil Services (02883) and more than 10 stocks rose more than 5%.

International oil prices hit a new high
Among them, China National Petroleum Corporation (00857.HK) surged over 5%, and the intraday peak once again set a new high for this round of rebound, setting a new high in the past 1.5 years.

In the early morning of the 22nd, Beijing time, foreign crude oil futures rose sharply on Monday, and the US WTI and Brent crude oil futures prices both hit their highest closing prices since 2018. The US stock market rose and the dollar fell, boosting the attractiveness of dollar-denominated commodities. The spread of the US oil market in recent months relative to the far-month contract has widened, indicating that market supply is tightening.

Donghai Futures believes that the expectation of a rebound in global demand exceeds the concerns of Iran’s increased supply after the sanctions are lifted, leading to a gradual increase in the recent oil price center of gravity. However, in the medium and long term, the supply side will remain relatively tight, long-term crude oil demand will continue to rise, and medium and long-term oil prices will remain in the upward channel.

CITIC Construction Investment Futures said that crude oil prices are expected to still have upside in the market outlook, and the pressure will gradually increase. The positives include (1) Europe and the United States, with the world’s leading and rapid vaccination progress, the recovery of economic and oil demand supports the market’s optimistic expectations for the prospects of oil demand, and (2) the seasonal characteristics of crude oil destocking during the peak summer driving season in the United States , (3) In the context of the approaching Iranian election, it is increasingly difficult for the United States and Iran to reach an agreement on the Iranian nuclear talks. Delayed supply is expected to be fulfilled. (4) Last week, the speculative net long positions of Brent and WTI increased by 7.3% and 8.8% from the previous month. Three weeks and two weeks increase.

Bank of China Securities believes that it is expected that from the second half of 2021, the prosperity of the petroleum equipment and service industry will rebound significantly. But what is different from the past is that both the petroleum equipment industry and the oilfield technical service industry have undergone tremendous changes in the industry structure. After two crude oil cycles in the past 10 years, China’s petroleum equipment leader Jereh and offshore oil service leader CNOOC Limited Competitiveness continues to increase, and it has a global layout. After crossing the bottom of the cycle, it will usher in new development prospects. It is recommended to pay attention to Jereh and China National Offshore Oil Services.

But now he has left his life in Africa forever

The world is not just the US, Europe, China, Russia…There are many places where we are relatively strange, of course, strange for strange reasons.

Each time break strange, more is a tragedy.

Finance, economics, international

For many in the West, the country is once again familiar because yet another ambassador has been shot dead.

On February 22nd a UN convoy was attacked in the DRC and Italy’s ambassador to the country, Roberto Attanasio, was shot dead on the spot.

He was killed along with an Italian gendarme who was guarding him and a driver for the World Food Program.

Please note that this is still a United Nations convoy.

Moreover, the convoy was carrying out a humanitarian aid mission to a school in a border area.

But while passing through Virunga National Park, the convoy was ambushed and the kidnappers forced it into the forest in an attempt to kidnap them.

The park guards and a nearby unit of the Congolese (DRC) army responded, exchanging heavy fire.It was during this process that the Italian Ambassador was killed by the kidnappers.

The 43-year-old ambassador, who has served in Switzerland, Morocco and other countries before becoming ambassador to the Democratic Republic of Congo (DRC) in 2019, also has three young daughters.

Look at their family photo, very happy.

But now he has left his life in Africa forever.

Italy was in shock.

Italy’s foreign minister, Giulio Dima, abruptly interrupted an EU meeting and rushed back to Rome from Brussels.

In a statement, Dima said: “We do not know at this time the circumstances of this brutal attack, but we will leave no stone unturned to find out what happened.”

Italy is a little confused. Why Italy?

I don’t know the exact truth.

This time the Italian ambassador was shot dead

I once heard such a story, a colleague in Africa, one day at home to write a story, suddenly someone patted him on the shoulder, he thought other colleagues joking, said: stop stop that now now BBB1, is in a hurry to write.Patted more heavy, look back, the gangster took a gun to him.

Decades later, the tragedy is still happening.In the news, just two months before Zhong Zhiwei and his wife were killed, seven Chinese citizens were killed in South Africa.

Finance, economics, international

The outlook for Africa is very worrying.

A survey shows that Africa is taking the place of the Middle East as the world’s front line against terrorism.

Africa has a lot of young people, but they suffer from poverty, marginalization, unemployment, and poor governance in some countries, and they are a natural breeding ground for terrorism.

Ambassadors have been killed, most impressively, in at least three cases in the past few years.

The first was Benghazi, where the U.S. ambassador to Libya was killed in 2012 while trapped inside the consulate in Benghazi.It has also become a blot on Mrs Clinton.

The second was the shooting of the Russian ambassador.In 2016, the Russian ambassador to Turkey was shot in the head by a Turkish youth on Light Day.Putin personally attended his funeral, tears in the corners of his eyes.

The third, this time the Italian ambassador was shot dead.

They are still great powers, but even the ambassadors of these great powers have not escaped the bad luck.

Not to mention ordinary citizens.

So, last year, there was a piece of news about Africa, which touched me very much.After the war broke out in Tigre State of Ethiopia, the Chinese Embassy in Ethiopia made an immediate decision and organized the evacuation of our compatriots.More than 1,100 kilometers, the war environment, the road of evacuation can be imagined difficult, but fortunately, the final safe evacuation.

Ethiopia is a very friendly country, I was there the year before last, and now the war is back and people are suffering. It is a great sigh.


Our diplomatic environment would be hostile

They are still great powers, but even the ambassadors of these great powers have not escaped the bad luck.

Not to mention ordinary citizens.

Finance, economics, international

So, last year, there was a piece of news about Africa, which touched me very much.After the war broke out in Tigre State of Ethiopia, the Chinese Embassy in Ethiopia made an immediate decision and organized the evacuation of our compatriots.More than 1,100 kilometers, the war environment, the road of evacuation can be imagined difficult, but fortunately, the final safe evacuation.

Ethiopia is a very friendly country, I was there the year before last, and now the war is back and people are suffering. It is a great sigh.

Today I pay attention to Africa because Africa has a very close relationship with China.We have many friendly countries there, a large number of economic projects, and a large number of overseas Chinese and expatriate staff, including many of my colleagues.

As the ancients said, a chaotic country cannot enter.But the reality is, we can’t.

Frankly speaking, without the dedication of these expatriates and the efforts of Chinese diplomats, China’s status as a major country today would not be possible, and our diplomatic environment would be even more hostile.

But they’re giving.The hard work of expatriates is not only to sacrifice themselves, sometimes to sacrifice their youth and children, but also to sacrifice their health and even their lives, especially in those turbulent African countries.

The fact that a UN convoy can be hijacked and an Italian ambassador can be shot highlights the perniciously dangerous conditions in some places.

Many people sigh, out of the country is often more patriotic.The truth is simple, look at Africa look at the Middle East, even compared with Europe and the United States, of course, China still has a lot of shortcomings, still need to continue to work hard, but sometimes people can not help feeling that it is better to live in China.

What we take for granted is what many countries look forward to most.

Such a northwest man deserves the honor of the comrades

On the left is our hero’s colonel Qi Fabao, who should have been the commander of the frontier battalion when this picture was taken.

Finance, economics, international

On the right, we see the famous Qin Terracotta Warriors and Horses, typical of the Great Qin warriors in the underground army formation more than 2,000 years ago.

The same Angle, the same outline, the same posture, different military uniforms, but can not hide the spirit, through thousands of years.

A lot of friends after watching said: like, too like!Qi fabao is the head of gansu wuwei people, as expected are the northwest tough man!

He was supposed to be our top commander on the scene.

When he sees a friend, he says:

One of the sources of combat strength of our army is that the commander always shouts “follow me” instead of “charge me” in battle.The only people in the world who can do this universally is our people’s army.

Behind Qi Fabao, the head of the regiment, there were two characters of “China” on the mountain wall.

What is a hero?

That is to face the chest to the siege, the back left to the motherland, a soldier is a monument.

Such a northwest man deserves the honor of the comrades who fought and died side by side with him and the honor of “the hero commander of the defense of the country and the frontier”.

In the struggle in the Galawan Valley, four of our officers and men died, and Colonel Qi Fabao was seriously wounded.The PLA Daily also recorded this detail:

Han Ziwei, a military doctor, remembered that after Qi was rescued, his left frontal bone was broken and there was a gouge ten centimeters long.As he dressed the wound, “he pulled the bandages off his head, thought to rush forward as his last strength, and then fainted”.

Yesterday (February 21), I am glad to see some media reports that experts from the Affiliated Hospital of PLA Military Medical University have carefully treated Qi and he has recovered before the Spring Festival.

Just yesterday morning, local leaders from Wuwei made a special trip to Xinjiang to visit Qi and his family.

Photos show that Qi Fabao, who still has short military hair, has a lot of white skin and a good mental state.

The turmoil in Africa is also an indisputable fact

Even though their trip is a humanitarian mission.But the kidnappers didn’t care.

Congo (Democratic Republic of Congo) is a big country in Africa, but according to the materials, the country has various internal conflicts, attacks in the region, there are at least 100 armed groups, killing each other.

In 2018, also nearby, two Britons were kidnapped.

Finance, economics, international

Last year, more than 2,000 civilians were killed and more than 5.2 million made refugees in what the United Nations has called one of the world’s worst humanitarian crises in eastern Congo, which includes this area.

It’s such a big crisis, I believe, that a lot of people don’t know.

We don’t know, and neither do Westerners.

But that’s just a snapshot of what’s happening in Africa today.

Of course, Africa also has stable countries, rich resources, young populations, and huge potential for development. It was once considered the “last high frontier” of the world economy.

But the turmoil in Africa is also an indisputable fact.

The turmoil in Somalia, the war in Libya, the confrontation in Western Sahara…Also, poor security in South Africa.

Ethiopia, once relatively peaceful, has seen its share of violent fighting over the past year, which is said to have left hundreds of thousands dead, and in a “small” story late last year, gunmen attacked a village and killed more than 100 people.

These, you know?

We don’t care. Africa is too far away.

But we must also know that there are a lot of Chinese people in Africa, and many of them have stayed in Africa forever.

Last August, in Johannesburg, a famous local leader Zhong Zhiwei and his wife were killed in an armed robbery by three robbers on their way home.

In 1998, one of his and his wife’s shops was robbed. Their two-year-old son was killed and Zhong was shot in the leg.The then South African President Nelson Mandela also personally received Zhong Zhiwei and his wife, Lian said “sorry”.

SMIC is about to change its name

On the evening of February 4, SMIC international, the mainland’s “big brother of chips”, disclosed a “happy and worried” performance express.

SMIC is about to change its name

Source: Announcement source: Announcement


On the one hand, the demand for mature processes is still strong, and the company plans to expand its production capacity. At the same time, it is expected to turn losses into profits by 2020.


On the other hand, in the view of some market participants, the company’s revenue growth guidelines for the first half of 2021 are not high. “Our full year forecast is based on the assumption that the continuity of operations will not be affected. The application for export license must be based on the process, which needs time and uncertainty. Based on this, the annual revenue target is medium to high single digit growth, and the revenue target for the first half of the year is about US $2.1 billion; the annual gross profit rate target is 10% – 20% in the central region. ” Gao Yonggang, CFO of SMIC, pointed out.


He also said that looking forward to 2021, due to being included in the “entity list” by the U.S. government, the company is restricted in purchasing relevant products or technologies in the United States, which brings uncertain risks to the company’s annual performance expectations.


Fourth quarter profit increased by more than 90%


According to China’s accounting standards for business enterprises (the same below), in the fourth quarter of 2020, SMIC achieved an operating revenue of 6.671 billion yuan, a year-on-year increase of 10.3%; the net profit attributable to the parent company was 1.252 billion yuan, a year-on-year increase of 93.5%, but the net profit deducted decreased by 82% to 40.47 million yuan.


SMIC said that in the fourth quarter of 2020, the company’s wafer sales increased and the average selling price rose, and the investment income and inventory loss from government project funds, investment in joint ventures and financial assets increased.


Throughout the year, SMIC’s non audited net profit attributable to the parent company in 2020 was RMB 4.332 billion, an increase of 142% over the same period of last year; its non audited net profit deducted in 2020 was RMB 1.697 billion, corresponding to a loss of RMB 522 million in 2019. Once the non-profit state of the company is deducted in 2020 after audit, it means that the stock abbreviation of SMIC International A shares will change, that is, from “SMIC international-u” to “SMIC international”.


It is understood that the special logo “U” of the science and technology innovation board represents that the listed company has not yet made profits. After the issuer makes profits for the first time, the special logo will be cancelled. According to the Listing Rules of science and Technology Innovation Board issued by Shanghai Stock Exchange, the company’s net profit before and after deducting non recurring profit and loss in the accounting year before listing is negative. The realization of profit refers to the first time that the unprofitable scientific and technological innovation enterprises realize profit in a complete accounting year after they go public.


SMIC said that in 2020, the company will actively take epidemic prevention measures to minimize the adverse effects of the epidemic; at the same time, it will benefit from the strong demand of consumer electronics, information communication and other industries, the increase of chip usage, the overall tight production capacity of the wafer foundry industry, the strong demand for mature processes, and the growth of revenue.


Capital expenditure focuses on mature process expansion


In order to meet the needs of customers, SMIC expects to spend US $4.3 billion in 2021, most of which will be used to expand the production of mature processes (above 28nm), and a small part will be used for advanced processes (below 28nm), civil engineering and other new joint venture projects in Beijing.


SMIC said that at present, the capacity of the wafer foundry industry is tight, especially the demand for mature processes is still strong, and it is expected that the company’s mature capacity will continue to be full. The company plans to expand 10000 pieces of mature 12 inch production line and no less than 45000 pieces of mature 8 inch production line in 2021.


For advanced technology, SMIC said that under the influence of “entity list”, it will consider strengthening the development and construction of the first and second generation FinFET multi platform, and expanding the reliability and competitiveness of the platform.


It is worth noting that there is a big gap between SMIC’s capital expenditure plan in 2021 and 2020 (US $6.7 billion). According to industry analysis, the reduction of capital expenditure may be related to the company’s inclusion in the “entity list”.


In mid December last year, the US Department of Commerce listed SMIC international and some of its subsidiaries and joint-stock companies in the “entity list” on the grounds of protecting us national security and diplomatic interests. According to the relevant laws and regulations of the United States, for the products or technologies applicable to the export control regulations of the United States, suppliers must obtain the export license of the U.S. Department of Commerce to supply to the company; for the products or technologies used for 10nm and below technology nodes (including extreme ultraviolet technology), the U It may also be limited to provide OEM services to special customers.


Recruiting experts to fill the seats on the board of directors


On the evening of the same day, SMIC issued a personnel appointment announcement. From February 4, Dr. Liu Ming was appointed as the third type of independent director and a member of the strategy committee of the company for a term of office from February 4, 2021 to the annual general meeting of shareholders in 2021.


This fills the vacancy left by the resignation of Dr. Cong Jingsheng, the former independent director of SMIC, at the end of 2020. At that time, the announcement said: “the board of directors of the company will appoint new independent non-executive directors within three months from December 31, 2020 to ensure that the relevant rules can be complied with.”


According to the announcement, during his 33 year career in the semiconductor industry, Dr. Liu Ming has made contributions to the research of micro / nano fabrication, NVM devices and circuits, modeling and simulation, and reliability. He has published five books and articles, more than 300 journal papers and more than 100 conference papers. She holds many important academic positions, including the president of IEEE electronic device Association Beijing Branch.


Dr. Liu Ming’s achievements have won her many awards and honors. In 2019, she was awarded academician of the World Academy of Sciences (Twas). Dr. Liu Ming has devoted his career to education, guidance and publishing research in semiconductor technology and development.

China Domestic finance

The central bank launched 200 billion yuan MLF and 150 billion yuan reverse repurchase operations

The people’s Bank of China announced on November 30 that in order to maintain the stability of liquidity at the end of the month, 200 billion yuan of medium-term loan facility (MLF) operation and 150 billion yuan 7-day reverse repurchase operation were carried out. On that day, 40 billion yuan of reverse repurchase was due. In addition, the central bank also announced that it would carry out medium-term loan facility (MLF) operation on December 15 (including one-off renewal of MLF due on December 7 and 16), and the specific operation amount will be determined according to market demand and other conditions. [details]

The people’s Bank of China drafted the announcement on the revision of bond trading and circulation in the inter-bank bond market (Draft for comments)

On November 30, the website of the people’s Bank of China announced that the people’s Bank of China had drafted the announcement on Revising the bond trading and circulation in the inter-bank bond market (Draft for comments), which is now open to the public for comments. The announcement requires that on the first day of bond registration, the Central Clearing Company and Shanghai clearing house shall transmit the information of bond transaction circulation elements to the interbank lending center by electronic means; the second is that the issuer or lead underwriter shall provide the list of initial holders and holdings of bonds to the interbank lending center on the day of bond registration.

Safe starts another round of QDII quota issuance

On November 30, the State Administration of foreign exchange (SAFE) launched another round of issuance of qualified domestic institutional investors (QDII) quota, which is planned to issue US $4.296 billion to 23 institutions. This round of issuance covers funds, securities, banks, bank financing subsidiaries, trust companies and other major types of financial institutions, and takes into account the quota requirements of new institutions. Since September 2020, safe has issued three rounds of QDII quota, totaling US $12.716 billion to 71 institutions. After this round of issuance, the safe has approved 169 QDII institutions with an investment amount of US $116.699 billion.

Shanghai and Shenzhen Stock Exchange Issues measures for listing on the stock exchange

The listed companies on the new third board will soon enter the practical operation stage. The measures for listing on the stock exchange of China’s small and medium-sized enterprises (SMEs) listed on the stock exchange system of China issued by China Securities Regulatory Commission (CSRC) in June, which specifies the conditions for listed companies listed on the stock exchange of China’s small and medium-sized enterprises (SMEs) to be listed on the stock exchange of China’s science and technology innovation board or gem, restrictions on the sale of shares, listing audit arrangements and performance of listing sponsors.

The third session of the fifth session of the Chinese financial trade union held in Beijing

On November 30, the Third Plenary Session of the fifth session of the Chinese financial trade union was held in Beijing. Yan Jinghua, vice chairman of the all China Federation of trade unions, Secretary of the Secretariat, member of the Party group and chairman of the China financial trade union, Zhou Liang, member of the Party committee and vice chairman of the China Banking and Insurance Regulatory Commission, Secretary of the Party group and vice chairman of the China financial trade union (Part-time), presided over the meeting and delivered speeches. At the meeting, Liu Guiping, member of the Party committee and vice president of the people’s Bank of China, was elected as vice chairman (Part-time) of China financial trade union, and Zhang Rui and Li Lidong were elected as vice-chairman of China financial trade union. Mei Zhixiang, deputy secretary of the Party group and executive vice chairman of the China financial trade union, delivered a work report.

China’s international trade surplus in goods and services reached 315.2 billion yuan in October

According to the data released by the State Administration of foreign exchange on November 27, in October 2020, China’s income from international trade in goods and services was 1660.1 billion yuan, expenditure was 1344.9 billion yuan, and the surplus was 315.2 billion yuan. Among them, goods trade income was 1536.6 billion yuan, expenditure was 1159.3 billion yuan, surplus was 377.3 billion yuan; service trade income was 123.5 billion yuan, expenditure was 185.6 billion yuan, and the deficit was 62.1 billion yuan.

The A-share index is up and down, and the performance of “small and medium sized enterprises” is better than that of the main board

On the last trading day of November, the A-share index rose and fell, and “small and medium-sized enterprises” performed better than the main board. On the same day, the Shanghai composite index opened at 3418.16, fluctuated high in the morning, went down all the way in the afternoon, and finally closed at 3391.76, down 16.55 points or 0.49% from the previous trading day. The Shenzhen composite index closed at 13670.11, down 20.77 points, or 0.15%. The gem index rose 0.49% to close at 2631.89. The SME board index closed at 9042.47, up 0.16%. The Kechuang 50 index closed at 1385.48, down 0.16%.