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On September 13th, the Ministry of Industry and Information Technology and eight other government departments issued the "Automotive Industry Stable Growth Work Plan (2025-2026)." The main goals are: By 2025, the industry aims to achieve annual auto sales of approximately 32.3 million units, a year-on-year increase of approximately 3%, including approximately 15.5 million new energy vehicle sales, a year-on-year increase of approximately 20%; maintain steady growth in auto exports; and increase the added value of the auto manufacturing industry by approximately 6% year-on-year. By 2026, the industry is expected to maintain a stable and positive development trend, with further improvements in scale, quality, and efficiency.On September 13th, Bank of America said that with increasing signs of resilience in emerging economies, emerging markets may see larger capital inflows at the beginning of next year, which will drive further capital shifts away from US assets. "People will become more optimistic at the beginning of next year as they will be confident that the economic impact of trade tensions will be limited," said David Hauner, head of global emerging market fixed income strategy at Bank of America. "Even small diversification flows from the United States can have a very significant effect." Hauner has maintained a bullish stance on emerging markets since the first quarter. He believes that this asset class will benefit from a weaker US dollar, room for further interest rate cuts by central banks around the world, and the historically low allocation of global funds to emerging markets. Hauner said that Brazil, Mexico, Colombia, Turkey, and Poland will be the main beneficiaries of foreign capital inflows.IDF: Siren sounds in central Israel as missiles are launched from Yemen.According to The Information: Jon Jones, head of Amazons (AMZN.O) cloud service startup division, has resigned.On September 13th, Faraday Future (FFIE.O) announced that, in line with its overall strategic plan, it is actively planning the spin-off and public listing of its Crypto & C10 and related crypto assets and businesses. Faraday Future stated that over the past two weeks, its C10 Treasury has successfully completed two rounds of crypto asset allocation totaling approximately $7 million.

More Than 80 Companies, Including China's JD.com, Added in U.S. SEC List, At Risk of Delisting

Haiden Holmes

May 05, 2022 10:16

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The Securities and Exchange Commission of the United States added over 80 corporations to its list of organizations facing probable expulsion from American exchanges, including China's JD.com, Pinduoduo (NASDAQ:PDD) Inc, Bilibili (NASDAQ:BILI) Inc, and NetEase (NASDAQ:NTES) Inc.


The SEC enlarged the list on Wednesday, including Chinese businesses listed in the United States, as part of a preliminary lineup under a 2020 law known as The Holding Foreign Companies Accountable Act.


The act, which was signed into law by then-President Donald Trump, seeks to bar foreign-jurisdiction corporations from US stock exchanges if they fail to adhere to American auditing standards for three consecutive years.


Among the other significant Chinese companies added to the SEC's list were JinkoSolar Holding Co Ltd (NYSE:JKS), NIO Inc, and China Petroleum (NYSE:SNP) & Chemical Corp.


According to Reuters, Chinese regulators last month requested that some of the country's US-listed companies, including Alibaba (NYSE:BABA), Baidu (NASDAQ:BIDU), and JD.com, submit additional audit disclosures.


China also proposed revising confidentiality rules for offshore listings in early April, removing a legal impediment to Sino-US audit cooperation and putting the onus on Chinese firms to protect state secrets.


The development comes after a US watchdog stated in March that it was continuing to engage with Chinese regulators on access to their auditors' records, but it remained unclear whether the Chinese government would allow the access necessary by a new US listing law.