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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.

Peirce of the US Securities and Exchange Commission Sees Movement on Stableco in Laws

Cory Russell

May 13, 2022 10:33

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The collapse of the stablecoin TerraUSD and a destabilizing drop in Tether, the world's biggest stablecoin by market size, have given cryptocurrency markets an overall worth of almost $1 trillion this week.


Stablecoins are digital currencies that are linked to conventional assets such as the dollar.


During an online panel discussion organized by the London-based Official Monetary and Financial Institutions Forum policy think tank, SEC Commissioner Hester Peirce remarked, "One area we could see some movement is around stablecoins."


"That's an area that has certainly gained a lot of attention this week," Peirce continued, highlighting the possibility for stablecoins to be used in future marketplace constructions.


She went on to say that the SEC's wide regulatory jurisdiction allows it to catch digital currencies and the technological platforms on which they are exchanged.


The instability in crypto markets, US Treasury Secretary Janet Yellen told a Senate banking subcommittee this week, demonstrated the need for a "appropriate" regulatory structure.


In March, President Joe Biden signed an executive order mandating the government to evaluate the risks and advantages of developing a central bank digital currency, as well as other cryptocurrency problems.


Gary Gensler, the chairman of the Securities and Exchange Commission, has stated that the agency should address stablecoin risks because asset-linked cryptocurrencies raise concerns about financial stability and monetary policy because they have features that are similar to and potentially compete with bank deposits and money market funds.


He also said that there are concerns about their potential for illegal usage.


Peirce, the SEC's lone Republican commissioner, said on Thursday that possible regulation should allow for a "trial-and-error" regulatory framework, adding that "some people have indicated it should be at the SEC; others want it to be the banking regulators."


There are many possible approaches to addressing stablecoins.


We also need to provide space for failure when it comes to experimenting."