They say the law’s wide scope of application could put foreign businesses in China in a big dilemma, as they could be caught between complying with foreign sanctions and the law. ban them from taking such measures. Chinese technology company Huawei. Photo of CPO MAGAZINE According to Article 12 of the law passed by the Standing Committee of the National People’s Congress on June 10, organizations and individuals that enforce or support foreign sanctions can be brought to court and forced to must “stop the violation and pay compensation”. Lester Ross, a partner at Beijing-based law firm WilmerHale, said he was concerned the new law would force regulators to “reduce companies’ discretion in determining whether they want to do business with them.” With whom”. “If so, this could have a big impact, especially for financial institutions,” he said. Businesses that may be at risk include multinational fashion brands that have announced they will not use cotton from Xinjiang after being banned by the US over human rights concerns, or suppliers to telecommunications giant Huawei, which has been hit by US export restrictions. Observers say the new law establishes a clear legal foundation for regulations issued by the Commerce Department last year. These include so-called untrusted legal entities lists, which identify foreign agencies deemed to pose a threat to China’s national security or interests and subject them to measures such as fines, economic restrictions and visa restrictions for employees. In January, the ministry also introduced a “blocking regulation” that forces Chinese organizations and individuals to report whether they have encountered any restrictions from foreign governments with the risk of fines if not, and allow them to claim. Tian Feilong, PSG at Beihang University’s law school, who has participated in consultations on the new law, said the blocking regulation has affected compliance with certain US sanctions. “In China, for example, Huawei can sue Taiwanese semiconductor giant TSMC for economic damages and seek compensation for the consequences,” Tian said. “Our court may rule that TSMC loses and Huawei will have a domestic legal channel to protect its interests. In this case, TSMC will have to decide whether to honor the sanctions. US sanctions or respect anti-sanctions laws in China,” he added. Tian said a leadership group would be set up to coordinate and enforce anti-sanctions measures, including representatives from the ministries of commerce and foreign affairs and the National Development and Reform Commission. “Simply put, foreign companies participating in sanctions against China will lose the Chinese market. Many companies need to weigh their pros and cons, whether to choose sides in the market. the Chinese market or the US and European markets, and between Chinese law and foreign law,” he said.

When the sales of developers such as China Merchants Shekou, China Shipping, Poly, and China Resources, which are also central enterprises, have reached hundreds of billions in sales, CCCC Real Estate’s 100 billion progress bar has just passed halfway.

In 2020, under the leadership of then President Li Yongqian, CCCC Real Estate achieved contracted sales of 53.3 billion yuan, fulfilling its sales target for that year. Due to the desire for scale, CCCC Real Estate will be quite aggressive in 2020. The company added 30 new land in the whole year, twice the amount in 2019, and its floor space has increased by 176.90% year-on-year to 6,355,900 square meters.

After a brief victory, the plight of CCCC Real Estate became more and more obvious. Even if the scale exceeds 50 billion yuan, the company’s profitability continues to fall, and the debt indicator has stepped on two red lines in a row. How to balance the scale and debt has become a difficult problem for CCCC Real Estate.

Three delays in accounts payable

After the transfer of assets to return funds, borrowing from the parent company’s real estate group, and the transfer of surplus funds from affiliated companies, CCCC Real Estate has launched a new round of financing measures.

On June 14, CCCC Real Estate disclosed that the company plans to carry out non-standard supply chain financial asset securitization business with Ping An Wealth Management and Centennial Asset Management, with a total financing of no more than 3 billion yuan, mainly for payment of the project company’s accounts payable .

CCCC Real Estate said that this non-standard supply chain financial asset securitization business can extend the payment period of the company’s accounts payable, effectively alleviate the company’s short-term cash flow pressure, and optimize the liability structure.

This is not the first time that CCCC Real Estate has adopted this method to extend the payment time of accounts payable.

On January 14, CCCC Real Estate announced that in order to speed up capital turnover and increase capital utilization, the company and its subsidiaries intend to cooperate with the Bank of East Asia in refactoring business. The latter will provide CCCC Real Estate with a total of 400 million yuan. The re-factoring limit, the subject of the transaction is the accounts payable of the subsidiary of CCCC Real Estate, that is, the accounts receivable of the corresponding supplier.

The specific business content is that the supplier transfers the accounts receivable to the factor. The Bank of East Asia agrees to accept the transfer of the accounts receivable from the factor after confirming that the accounts receivable meets the agreed conditions, and the Bank of East Asia will guarantee the transfer of the accounts receivable. The manager provides non-recourse re-factoring services, and CCCC Real Estate acts as the co-payer of its subsidiaries.

Guan Rongxue, an analyst at the Zhuge Housing Data Research Center, told reporters that the cooperation between real estate companies and insurance companies to carry out non-standard supply chain financial asset securitization business is one of the ways that companies often use to ease short-term cash flow pressure. But the same operation three times in a row in six months can’t help but make people question, is the short-term cash flow of CCCC Real Estate already so tight?

According to data, as of the end of 2020, the amount of CCCC Real Estate’s accounts payable was 8.961 billion yuan, an increase of 48.45% from the 6.036 billion yuan in 2019, all of which must be paid within one year.

The “International Finance News” reporter noted that the substantial increase in the accounts payable of CCCC Real Estate that year was mainly due to the increase in land payables. In 2020, CCCC Real Estate added 2.577 billion yuan in land payables, and the company did not have such expenditures in 2019.

In the same year, CCCC Real Estate’s short-term loans amounted to 2.239 billion yuan, and non-current liabilities due within one year were about 5.819 billion yuan. If the accounts payable of 8.961 billion yuan are included, the company’s short-term debt level reaches 17.019 billion yuan, and the corresponding monetary capital in the same period is only 11.534 billion yuan, which is obviously out of balance.

From this point of view, it is understandable that CCCC Real Estate has extended the payment time of accounts payable many times.

Dilemma

But it is obviously not enough to relieve financial pressure in this way.

On June 14, CCCC Real Estate also disclosed an announcement on providing counter-guarantees to related parties for the issuance of corporate bonds. According to the announcement, CCCC Real Estate intends to publicly issue corporate bonds of no more than 1.2 billion yuan. The controlling shareholder of the real estate group will provide joint liability guarantee guarantee, and CCCC Real Estate will provide counter-guarantee for it.

After several rounds of financing, it is not clear how much breathing space China Communications Land has to compete for. However, from the current situation, reducing debt is quite important for the company.

According to data from the Shell Research Institute, in 2020, CCCC Real Estate’s debt-to-asset ratio after excluding advance receipts is 83.4%, exceeding the 70% red line; the net debt ratio is 296.4%, an increase of approximately 146.2 percentage points year-on-year; the cash short-term debt ratio is 1.43 , Step on two lines.

According to the “three red lines” financing rules, real estate companies that stepped on the two “red lines” will be classified as “orange files”, and the annual growth rate of the scale of corporate interest-bearing liabilities shall not exceed 5%. Therefore, if the debt level is not optimized, the already weak CCCC Real Estate will be restricted in financing, and it will be more difficult for the company to move closer in scale.

Guan Rongxue told reporters that the current dilemma of CCCC Real Estate is that, on the one hand, the company is inefficient in the process of resource integration, and on the other hand, it is because the company pursues large-scale acquisition of mergers and acquisitions projects and large-scale expansion of land reserves.

According to Guan Rongxue, although the development of non-standard business has extended the debt period, CCCC Real Estate’s long-term cash flow pressure still exists.

As of the first quarter of 2021, CCCC Real Estate’s short-term borrowings have fallen to 890 million yuan, but the bills payable in the same period has increased by 57.523% compared with 2020 to 37.054 million yuan, and long-term borrowings have increased by 43.5% compared with 2020 to 35.678 billion yuan. Bonds have also increased from 5.011 billion yuan in 2020 to 8.144 billion yuan.

In addition, due to the increase in short-term loans payable to shareholders, other payables of CCCC Real Estate also increased by 217.93% from 2020 to 6.93 billion yuan. With the continuous support of the parent company, the amount of this part of the funds may remain high in the short term.

Under the high pressure of debt, CCCC Real Estate continues to provide guarantees for its holding subsidiaries and shareholding companies. As of May 31, the balance of guarantees between its holding subsidiaries and holding subsidiaries was 12.357 billion yuan, accounting for 403.64% of the net assets attributable to the parent at the end of 2020; the balance of guarantees for participating companies that were not in the scope of the consolidated statement was 2.107 billion yuan , Accounting for 68.82% of the parent’s net assets at the end of 2020.

I am at home almost 24/7. Writing, teaching online, reading, watching movies, cooking, exercising and sleeping. And most importantly, always keep yourself as calm as possible. Being used to the lifestyle of a freelancer and mostly working from home, social distancing doesn’t affect me too much mentally, but physically it certainly does. Work is delayed, project contracts are delayed or canceled. However, the pandemic has also taught us all a great lesson that, just having a roof to live in, enough food to eat, healthy yourself and loved ones, is already a great blessing. As in the article “Slave of possessions” drawn from “Nietzsche’s words to young people” by Shiratori Haruhiko, a famous Japanese author specializing in philosophy, religion, and literature, I sympathize with this passage. , not just for the time being: “Human life requires money, a comfortable place to live, and a lot of food to ensure health. Thanks to those things, people can live independently and freely. However, if that level of ownership is surpassed, a person will completely change, potentially becoming a slave of the desire to possess. In order to possess, people spend time, bind themselves in social relationships so that there is no time to rest, are controlled by the organization and, finally, are bound by the state. Human life is a time given not to ceaselessly compete for possessions.” Journalist Le Hong Lam The war between humans and this deadly virus will only end when the world produces and distributes vaccines to billions of people in record time. How long the record short time is, we don’t know. In Vietnam, with a population of 97 million people, to achieve herd immunity, we need about 60 million people to be vaccinated, which means we need about 120 million doses of vaccine if each person needs two doses to be immune. Translate. How many people and vaccines have been given so far, we all know for sure. Even if there is enough money for the vaccine fund, there will certainly be a long way to go before the vaccine is distributed to Vietnam to meet demand. And this epidemic crisis, which will certainly continue, forces us to adapt and have a long-term attitude to live with the epidemic. Le Hong Lam’s favorite corner Look no further, look to Malaysia to see. This country of about 25 million people has a per capita income many times higher than ours, is on the brink of a pandemic when nearly 10,000 people are positive for the virus every day. They certainly don’t lack money for vaccines. But in this vaccine race where “nationalism” takes the throne, it is unlikely that there is money to have a vaccine. Vietnam, remains one of the best COVID-controlled countries in the world. However, this 4th wave of epidemics is really threatening us with the number of cases of disease in the community spreading rapidly. And I don’t know, even if this 4th wave is suppressed, how many next “waves” will fall on us, before Vietnam has enough vaccines to achieve herd immunity. So while you wait for a vaccine, learn to deal with it as safely and calmly as possible. In the “How to cope” episode of the “Coronavirus Explained” series, health experts say that the epidemic has left hundreds of millions of people around the world in a state of fear, stress and depression. And these negative mental states will continue for a long time even after the pandemic is over, they warn. Fear, during an epidemic, has an important advantage in helping us survive and comply with the rules of community isolation. But in the long run, it causes consequences that affect the nervous system and brain, causing long-term mental and physical effects. In a recent article, I cited information from an article on CNN about the “suicide epidemic” in Japan during the COVID epidemic. Accordingly, the number of people who have died from COVID in a year since the outbreak, is less than the number of people who commit suicide in Japan in a month. Of course, Japan is inherently a country with a high suicide rate. But the negative effects of the COVID pandemic have led to a sudden increase in the number of people committing suicide, due to stress, depression and fear. Therefore, some psychologists believe that we should control our emotions to restore balance to the brain. Balancing emotions, practicing meditation, breathing deeply and limiting reading news that cause fear, confusion and nervous tension are the best ways to help us avoid anxiety or stress. As a psychologist put it: “As the world becomes increasingly unpredictable, we must create a predictable world for ourselves. Even the little things are self-helpful, like maintaining a schedule, which gives us a sense of purpose and helps us not see things too hazy.” The common people interviewed in this episode each have their own way of dealing with the epidemic. Increasing physical and mental activity, at home, is also an effective way to help us achieve the necessary balances. Right now, if we are safe at home and have enough food to eat and our spirits are stable, we are luckier than the thousands and thousands of people out there who are struggling with the epidemic or worrying about their health. safety or food for their families. Therefore, let’s cheer and express gratitude and gratitude to the doctors, nurses, and volunteers on the front lines who are working under the crazy heat of summer (especially in the North of Vietnam). and the Central region) in the meantime. Please encourage and share, do not discriminate against the positive person or the F1, F2, F3 who are involved. And please donate a little material, in your ability to charities or the Government’s COVID-19 vaccine-prevention FUND. In the episode above, a psychologist says, “The power of giving is not only positive, it is actually good for us. Together through this pandemic, we can make the world more welcoming.” The ending of this episode says: “During the 2003 SARS epidemic, Hong Kong was the city that suffered the most. And when conducting a survey of the population after the epidemic ended, the results showed that Hong Kong people care about the feelings of their loved ones more than before. They also care more about their mental health than before.” This is the time when we should “get together” mentally, while observing social distancing! And the last paragraph, taken from an article called What do we do when we can’t do anything? posted on facebook for quite some time and am recruiting for a draft of a magazine I am planning to print later this year: “In the face of big problems like natural disasters that fall from the sky, we realize how small human life is. And because he was small, he didn’t try to resist or panic. Anyone anywhere just sitting there, at ease, watching the sun rise every morning and sunset every afternoon is happy already. Happiness is always inside of us, rarely outside of us. Ozu said the same thing.”

In some parts of Germany, it is believed that if you toast someone with a glass of water, it means you expect the person to die. This strange superstition has its roots in Greek mythology, where the spirits of the dead would drink from the Lethe, one of the rivers of hell. Knock on wood to avoid bad luck Illustration. Source: igafencu This superstition stems from the belief of the Paganists (a group of people originating from the Roman Empire following polytheism) that evil spirits often reside in wood. Therefore, it is believed that if you wish for something, you should touch or knock on the wood to prevent evil spirits from hearing it and prevent your wish from coming true. Avoid sitting at the corner of the table Hungarians and Russians believe that whoever sits at the corner of the table will never get married. Some say that this bad luck lasted only for seven years, but no one gave a clear explanation. Cut nails at night Illustration. Source: Pexels The Turks, Indians and Koreans believe that cutting the fingernails or toenails at night is bad luck. Even in Japan it is said that you can die prematurely if you do this. In ancient times, cutting fingernails and toenails was done with knives or sharp objects. It is possible that the wounds from cutting fingernails and toenails in the dark, plus the lack of medical support have caused infections or deaths, leading to such taboos. Put your wallet on the ground Avoiding putting your wallet on the ground is also a strange custom that still exists in many countries of Central America, South America and the Philippines. Many people believe that placing money or wallets on the ground will lead to bad luck with money. Put shoes on the table Illustration. Source: igafencu In the UK, placing shoes on a table is considered bad luck as it symbolizes the death of a loved one. This stems from an ancient custom, when placing someone’s shoes on the table was a way to announce that someone in their family had passed away. Today, although it no longer carries such a heavy meaning, putting shoes on the table is still considered an unacceptable act in etiquette. Fear of Tuesday the 13th Not only is Friday the 13th taboo, in Spain and some Spanish-speaking countries, people are very afraid of Tuesday the 13th. The word “Tuesday” in Spanish is “Martes” which is derived from the word “Tuesday” in Spanish. Mars, the Roman god of war. Additionally, Constantinople (once the capital of the Roman Empire) is said to have fallen and was devastated on Tuesday, during the Fourth Crusade. More than 200 years later, history records that the Ottoman Empire announced the occupation of the city on the same Tuesday. No outdoor knitting If you come to Iceland to live, knit at home, not outside. Locals believe that knitting in front of the house will make the weather always in a freezing state. Illustration. Source: Pexels Pouring water behind someone’s back for good luck Pouring water for good luck is a Serbian folk custom. Specifically, before someone goes away or performs a job, people will pour water behind this person’s back to pray for good luck, hope for a safe road and favorable work. This custom is usually done when entering school, before the exam day, before going to a job interview, enlisting in the army or similar important things.

In order to always look perfect, the royal ladies used some small but useful tricks to avoid awkward situations. We’ve researched many fashion forums and found out what “hacks” help modern-day representatives of kings always look good. Redesigning old clothes Unlike many public figures, Kate Middleton has never been shy about appearing at different events wearing the same outfits. To make her outfits look fresh and modern, Kate redesigned them by changing a few small details. In 2013, the Duchess appeared in public wearing a coat she had worn two years earlier. But this time, she changed the belt, making the whole outfit shine with new colors. Nails of natural color Kate Middleton can hardly be seen with bright nail polish. It is believed that it is all prescribed by etiquette. Perhaps Kate follows all the rules without a doubt, but another reason to choose natural colored nails is for practicality because naturally colored nails will last longer. Shoes come in different sizes Kate Middleton has to wear high heels for several hours a day. That is why she is very careful in choosing shoes. The Duchess chooses her shoe size depending on the style and brand. For example, Kate mostly buys summer shoes one size or half a size larger, as it will help her avoid blisters on her feet. Limit the use of makeup cream Meghan Markle is a supporter of natural looks and doesn’t hide her slightly red freckles under heavy makeup. For this reason, Prince Harry’s wife is very limited in using primer and only applies makeup foundation to certain areas of the face during important events. Multifunctional shawl According to protocol, representatives of the royal family are not allowed to take off their outer clothing in public. That’s why Elizabeth II and Kate Middleton can be seen often in elegant coat outfits. And while they look perfectly suited to everyday looks, it’s pretty hard to imagine wearing evening gowns with outerwear. That’s when a casual shawl or a matching gown can come to the rescue. They will help keep the body warm in cold weather without breaking the rules.

South Korea’s Jeju Island was also affected by the number of people flocking to visit that year. Kang Won-bo, a resident of Jeju, lamented to The Korea Times : “Local people face the tension from the crowd and noise. Many people remember how peaceful this place was. In 2020, the Covid-19 epidemic broke out, disrupting international tourism and turning popular tourist spots crowded into “ghost towns”. In the case of Jeju, the island goes back to the quiet days in the past. However, that is not as happy as many people think. Jeju Island is the most famous resort in Korea. Photo: SCMP. Dilemma Located at one end of the world’s busiest domestic flight route, connecting the island with South Korea’s capital Seoul, Jeju is witnessing an increase in domestic tourist arrivals, making up for a shortage of tourists. international. According to the Yonhap This island welcomed 880,000 tourists in March, equaling 85% of the level before the great enemy Covid-19 (1.03 million in March 2019). However, both the local residents and the outsiders don’t seem too happy about it. . A recent Jeju Tourism Organization report found that 54.9% of the island’s tourists were “unsatisfied with the price”, up from 29.1% in 2019. Compared to other destinations in Korea such as Busan or Gangwon, “Jeju is the only place where actual spending exceeds tourist budget estimates.” The Jeju government is puzzled by the return of domestic tourists. Photo: CNN. Meanwhile, Jeju residents feel inconvenient due to the influx of people despite the spread of the SARS-CoV-2 virus. They also feel that the tourism industry has disrupted public order and invaded private life more than in 2018. A Jeju official told Yonhap : “Covid-19 cases are on the rise as tourism becomes more active in April. Of the 12 confirmed viral infections on the island during the first 7 days of the month, November was a tourist from the mainland or a resident. Local people spread from tourists. Even more, many people still set foot on the island despite having symptoms of suspected Covid-19 “. Despite all this, the island claims to tighten tourism, according to a senior official of the Jeju Tourism Organization. , “Residents are concerned about SARS-CoV-2 infection from tourists, but they also know that the island’s economy will also suffer if the tourism industry stagnates.” Like many famous tourist destinations in the world, Jeju seems to be “half alive” even when tourists come or not. .

Living in a house like this doesn’t make any money or money. If your house accidentally commits 1 out of 3, don’t worry too much. Feng shui expert Phung Phuong advises everyone to pay close attention to the feng-shui gods that hinder the prosperity of their family. Wind Referring to the wind means referring to the wind source around the house that is living. If there is a strong wind around the house, it is easy to form “toxic wind”. Such houses are usually located in areas where there is a gust of wind, the amount of wind that penetrates the house will be much. Therefore, even if it is a place with good gas-gathering terrain, it will cause the people of luck to be inferior and costly. The evil spirit knocked on the door Too many doors is not good. Gate evil mainly consists of two types: 1 is a house with many doors, and 2 is the door facing each other. Whether it is the first or the second, in terms of feng shui, it is not a good thing. The first is the type of house with many doors, that is, only one house, but the front and back are designed with many doors. Such a house layout is not conducive to keeping the wind, condensing air, but easily leads to wasting money. The second type is the interior of the house with opposite doors such as the main door, the bedroom door, the bathroom door, and the kitchen door. Thus, it is easy to form evil qi and lose the family’s fortune. How to neutralize: Use Quartz or Five-Base Coins to purify the energy-stable atmosphere to have air sand to support the campaign. Corner house The house with a missing corner has a very bad effect on the homeowner. Depending on the age, there will be different bad luck angles. A house is also like our pocket, if the wallet has a hole, no matter how much money inside it will be lost. The way to neutralize: Use Bhikkhu or Mr. Quan Gia to gather wealth to protect the “wealth” for his family. * Information is for reference only.

Recently, Miss Do Thi Ha attracted attention when appearing at a TV show. Miss Vietnam 2020 wears a lotus-petal pink dress, honoring her body curves. However, when going on stage, the beauty of Thanh Hoa village lost points because she revealed the unlucky chest patch on television because the neck was deeply cut. The 10X beauty still strode gently without knowing she made a mistake. This image was quickly captured, the online community was buzzing.

Before that, Miss Do Thi Ha also lost points with fans when she made a costume mistake on television. When participating in a show not long ago, Miss wore a silk satin dress. This is the fabric that the person wears because it easily makes the owner reveal the bread waist.

The 10X queen has repeatedly chosen tight-fitting outfits

revealing round two less tapered.

When participating in the ceremony of the Blue Star Awards a few months ago, runner-up Kieu Loan became the focus of attention when going on stage to announce and award the award for “Favorite Actor” and “Actress the most popular “. In close-up shooting angle. Kieu Loan was praised by fans for her radiant beauty. However, the design of her dress, which flaunts her “big” round 1, makes many viewers “eye pain”.

The image of runner-up Kieu Loan reminds the audience of Mai Phuong Thuy with a very hot moment at the final night of “Miss World Vietnam 2019”. In a close-up angle, the first round of Miss Vietnam 2006 seemed to flow, in a few moments, people still caught their heart when she almost revealed the sensitive part.

At the semi-final of Miss Universe Vietnam – Miss Universe Vietnam 2019, Thuy Van had a very confident bikini performance. However, because she was busy performing, the beauty revealed her first round on television. This moment quickly entered the camera lens, causing the audience to “dozen fire”.

In 2016, Van Mai Huong encountered an unexpected problem when joining Vietnam Idol Kids. In an interview with Zing.vn, Van Mai Huong said: “I am a person who is very careful in how I dress. Whether going to act, filming or even going out, I always wear tights under my skirt to be safe. So far, I have no taste in dress.” It is extremely rare to expose the goods as everyone says.