Beijing Based Enterprises Speeding Up Relocation
According to the latest research data, in the past four years, there have been at least 673 high-tech companies which have moved out of Beijing. Their relocation destinations include Nanjing, Xuzhou, Suzhou, Haikou, Suqian and other cities.
The Beijing Municipal Master Plan shows that Beijing’s strategic positioning is the national political center, cultural center, international exchange center, and scientific and technological innovation center. However, after the decentralization of some non-capital functions, many formerly Beijing based enterprises began to accelerate their relocations. As a result, the size of the urban population has declined, and the urban environment has also been greatly improved. But now, Beijing is showing some phenomena such as underdeveloped commerce, aging population, and lack of market mechanisms. Some experts believe that if urban governance relies too much on administrative measures, it may inhibit the role of the market and cause some thorny problems. Figuring out how to use Beijing’s strong scientific and technological innovation strength to provide support to enterprises in Beijing, Hebei and Tianjin may be a key to promoting the coordinated development of the Beijing-Tianjin-Hebei economy.
Huarong’s Lessons of Disastrous Losses Need to Be Reflected Upon
After suffering a huge loss of hundreds of billions of yuan, China Huarong Asset Management Co., Ltd.’s biggest uncertainty has disappeared and the company’s management gradually entered the right track. At the same time, Huarong’s future destiny is not yet set.
In addition, after the initial settlement of the capital restructuring, the market has shown great concern about whether Huarong’s ownership will be changed. There are also many speculations in the industry, but there is no definite news yet. It is worth noting that the Caijing reporter learned that some senior executives of Huarong are seeking new jobs. Although five potential strategic investors (including CITIC Group) are ready to bail it out, Huarong’s risk asset disposal work is far from complete. On the other hand, the lessons of Huarong’s disastrous loss are still worthy of profound reflection by the entire financial industry.
Hengqin Cooperation Zone Will Bring Prosperity for Hong Kong and Macau
Both Zhuhai and Macau are welcoming a series of favorable policies. The Chinese central government is determined to build a Guangdong-Macau in-depth cooperation zone on Hengqin island. Hengqin is located in the southern part of Zhuhai in Guangdong province. Bordering Macau to the west, Hengqin is expected to support better integration for the overall development of the country. The existence of Hengqin is special because the central government attaches great importance to the long-term prosperity and stability of Macau.
Stimulated by the good news, there is widespread speculation that Hengqin will become a new version of Shenzhen. In the short term, concept stocks in the Hengqin new area have made a strong push. In the long run, it will remain to be seen whether the development of Zhuhai and Macau can catch up quickly to the levels of integration already achieved between Shenzhen and Hong Kong.
In Liaoning Province, A High-Profile Case Was Unexpectedly Revoked
A former prosecutor was imprisoned for being involved in a fraud case. In imprisonment, Sun Liang, the former prosecutor, reported to the authority that a retired judge of the Liaoning Higher Court had interfered in the investigation of his case and she possessed a huge amount of property with unidentified sources. A reporter from Caijing confirmed through investigations that the reported judge known as Wang Guirong had served as a judge of the Criminal Division of the Higher People’s Court of Liaoning Province and retired in 2013.
At the same time, Sun Liang’s 70-year-old mother, Li Huanying, has been sending reports to authorities since his only son was arrested. On September 8, 2020, the Shenyang Intermediate People’s Court ruled that the original court of trial had violated legal procedures, and the Huanggu District Court’s judgment in the Sun Liang case was revoked and the case was requested to be retrialed.