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On January 22, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from Iraqi Rudao TV asked, "A Syrian Foreign Ministry official stated that the Chinese government has not yet formally requested the Syrian government to repatriate members of the East Turkistan Islamic Movement (ETIM). What is Chinas response to this?" Guo Jiakun responded, "The ETIM is a terrorist organization recognized by China in accordance with the law and listed by the UN Security Council. Syria has pledged not to allow any entity to use Syrian territory to engage in activities that harm Chinas security, sovereignty, and interests."January 22 – Foreign Ministry Spokesperson Guo Jiakun held a regular press conference on January 22. An AFP reporter asked about US President Trumps scheduled signing ceremony for the "Peace Commission" in Davos, Switzerland today, noting that approximately 35 of the 50 invited leaders have accepted the invitation. What is Chinas comment on this? Is China considering participating? "We have already answered the question about the Peace Commission, and we have no further information to add at this time," Guo Jiakun said.On January 22, in response to remarks made by a NATO spokesperson regarding Greenland, Foreign Ministry spokesperson Guo Jiakun stated at a regular press conference that China consistently advocates handling relations between countries in accordance with the purposes and principles of the UN Charter. The so-called "China threat" is baseless, and China opposes fabricating baseless accusations and using China as a pretext for pursuing selfish interests.On January 22, Goldman Sachs issued a research report, raising its earnings forecasts for Hua Hong Semiconductor (01347.HK) by 1% for 2027 to 2029, citing recent signs of price increases. This upward revision is primarily based on a more optimistic revenue outlook (2027-2029 forecasts increased by 1% to 2%). Goldman Sachs expects stronger revenue growth, as demand for specialty technology chips (such as power management ICs and image sensors) will also benefit from growth in AI servers and AI intelligent edge devices. With continued high capacity utilization, the bank anticipates Hua Hong will have more room to optimize its order structure, leading to stronger revenue and profit performance. As a leading wafer foundry in China, Goldman Sachs expects Hua Hong to directly benefit from the demand recovery trend, with its solid gross margin improvement and optimized capacity utilization indicating stronger earnings per share growth potential. The bank reiterated its "Buy" rating on Hua Hong Semiconductor and raised its target price from HK$117 to HK$134.On January 22nd, BOC International issued a research report stating that Pop Marts (09992.HK) share price has been under pressure since the end of 2025 due to market concerns about the waning popularity of Labubu and slowing growth. However, the bank believes that most concerns are an overreaction, and the share buyback program initiated by the company on January 19th should restore market confidence. Furthermore, Pop Marts financial report disclosed that it repurchased 500,000 shares in Hong Kong yesterday. BOC International expects that with the launch of new products, Labubu will remain a key pillar in sales this year, while other IPs will also improve their performance as overseas consumers become more familiar with them. Therefore, the bank still believes that Pop Mart will maintain strong momentum in overseas expansion and expects revenue and net profit to achieve strong year-on-year growth of 32.8% and 37.6% respectively this year, based on a 2026 forecast P/E ratio of 20. The target price was lowered from HK$405.6 to HK$291.9, but the "Buy" rating was reiterated.

U.S. SEC Chair Says Much to be Done to Protect Crypto Investors

Jimmy Khan

May 17, 2022 09:34

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Cryptocurrency assets are extremely speculative, and investors need greater safeguards or risk losing faith in the markets, according to Gary Gensler, head of the US Securities and Exchange Commission.


Individuals who acquire cryptocurrencies don't often receive the same disclosures that people who buy traditional assets get, such as whether the trading platform they're using is trading against them or if they genuinely control the assets they keep in digital wallets, according to Gensler.


"We have this fundamental bargain: you, the investing public, may choose the risk you want to take, but there has to be full and fair information, and individuals aren't meant to lie to you," he said at the Financial Industry Regulatory Authority's annual conference in Washington.


His remarks follow the dramatic fall of TerraUSD, a so-called stablecoin that lost its dollar peg last week.


The fall of the token sent cryptocurrencies sliding, with bitcoin erasing the gains it had made over the weekend to trade around $30,000, considerably below its November 10 high of $69,000.


While crypto markets are considered to be decentralized, most activity takes place on a few trading platforms, which, together with token issuers, must engage with the SEC to tighten industry regulations and disclosures, according to Gensler.


"Anti-fraud, anti-manipulation, ensuring sure there's no front-running, making sure an order book is truly true and not made up," he said of core market principles.


According to Gensler, the SEC would remain "a policeman on the beat" while working with the Commodity Futures Trading Commission to ensure that all cryptocurrencies are protected.


"There's a lot to be done here, and the investing public isn't effectively protected in the meanwhile," he added.