Apr 19 HK/CHINA WRAP After market Meituan placement and CB issue


19 Apr

HSI +136pts (+0.5%) 29,106 HSCEI +65pts (+0.6%) 11,093  T/O HK$150.16bn (+4.9% DoD) 

EUROPE Markets opened flat but FTSE and CAC trading sideways in the green and the Dax drifting slightly lower in the red.Little data to drive markets but covid concerns and the ECB meeting this week in focus along with earnings.
EUROZONE 
Current Account Feb €13.3B vs 5.6B Jan (F/cast was 19.1B)
Construction Output Feb -5.8% YoY vs -2.6% Jan revised (F/cast was. -3.6%)
GERMANY Bundesbank Monthly Report
US Futures Opened in Asian time Dow -54pts, S&P -0.2% and NDX-0.3%; following the record close for the Dow and S&P on Friday.  Currently Dow -75pts S&P -0.2%, NDX flat
Pre market Coca-cola beat but concerns over the fall in Bitcoin and weakness in the banks
No data due
Earnings include, IBM, United Airlines, Zions Bancorp, FNB, Steel Dynamics

CHINA 
CSI 300 closed +121pts (+2.4%) @ 5,087
CSI300 opened flat but worked higher through the morning to 5,074 at lunchtime. PM initially drifted slightly lower but then worked better into the close
Investors sentiment helped by the regulator saying China Huarong's (the bad-debt manager) had ample liquidity, its first official comment since the company missed a deadline to report earnings.
Auto markers in focus with the Shanghai Auto Show kicking off and manufacturers making announcements like Huawei’s plan to invest in car technologies.
Electronic firms rose ahead of Apple Inc.’s first product unveiling of 2021. Hainan concept names and digital currency companies dropped after their recent rally and comments in the FT about sales taking off but with concerns.
Shanghai Comp +51pts (+1.5%) @ 3,478
Shenzhen Comp +398pts (+2.9%) @ 14,118
ChiNext Comp +91pts (+3.2%) @ 2,974

CHINA DATA 
No data today Tuesday Loan Prime Rate (1 and 5 year)

HSI 
Pre market opened @ 28,960 -10pts vs + 91pts ADRs
Initially selling to 28,800 level but then reversed and worked higher to test 29,300 around 10:25 and several times again in next to minutes but failed to break above and drifted lower into lunch (28, 200) PM initially selling down currently +180pts (+0.6%) @ 29,150
Ecommerce names still weak; Baba -1.1% on the rumour, denied by the company that Jack Ma was looking exit. Auto’s +VE as the Shanghai Auto show opens. Tech also +VE

HONG KONG DATA 
Total volume exports of goods +29.5% YoY and imports of goods +16.5% YoY
The prices of total exports of goods +0.7% YoY and imports of goods +0.8% YoY
The Centre for Health Protection reported 12 new covid cases (vs 30 cases Sunday)
.
Short Selling Monday 16.4% vs 13.4% Friday
Top Shorts
  Bud Apac (1876) 44%, Henderson Land (12) 41%, Meituan (3690) 34%, Bank Of China (3988) 32%, BankComm (3328) 27%, SHKP (16) 25%.
IPO 
TRIP.COM-S (09961.HK) closed at $280.2, up $12.2 or 4.6% against the listing price of $268, on volume of 3.54 million shares and turnover of $984 million. Excluding the handling fees, a book gain of $610 was reported per board lot of 50 shares.

AFTER MARKET NEWS 
CHINA GRAND PHARM (00512.HK) announced that the Group’s subsidiary Grand Medical Pty Ltd is developing a global innovative drug STC3141 for the field of severe infections, which has recently received approval for a phase IIa clinical trial in Belgium for the treatment of Coronavirus Disease 2019 (COVID-19).  STC3141 Phase IIa clinical trial for the treatment of COVID-19 approved in Belgium will be a randomized open-arm study of 25 patients enrolled in at least 3 research centers, aiming to study and evaluate the safety and efficacy of STC3141 in the treatment of severe viral pneumonia caused by COVID-19 infection.
SHANDONG XINHUA (00719.HK) announced appointment of Octal Capital as Independent Financial Adviser to advise the Listing Rules Independent Board Committee, the Code Independent Board Committee and the Independent Shareholders in relation to the Proposed A Shares Issue and the Whitewash Waiver.
HENGAN INT'L (01044.HK) announced the repurchase of 400,000 shares on 19 April at $51.35-51.8 each, involving $20.6406 million.
WEIMOB INC (02013.HK) and TENCENT (00700.HK)'s Tencent Ads jointly unveiled the "Tencent - Weimob Plan 2.0" , reported Chinese media.  Both sides aim to help with corporate operation in private domain by integrating WEIMOB INC's omnichannel digital capabilities in digital marketing, system and operation, together with a full upgrade based on plan 1.0.
MEITUAN-W (03690.HK) plans to place about 187 million class B shares at a placing price of HK$265-274 each, representing roughly 5.3-8.4% discount to the closing price today, according to its prospectus. The estimated fundraising approximates US$6.8-7.0 billion.  In addition to the planned placing it intends to issue US$3 billion worth of zero-coupon convertible bonds, reported Bloomberg. In other words, the company aimed to raise a total of roughly US$10 billion.
Huawei Deputy Chairman cum Rotating Chairman Hu Houkun (Ken Hu) disclosed at the Boao Forum For Asia that Huawei is cooperating with CHINA MOBILE (00941.HK), and NZP etc. in formulating the operation specification for 5G port facilities, Securities Times reported. Hu hoped that the specification could be launched by the year end.
CHINA TOWER (00788.HK)   announced key performance indicators for the first quarter of 2021 that net profit amounted to RMB1.694 billion, up 16.7% yearly.   As of 31 March, the numbers of tower sites and tower tenants grew to 2.027 million and 3.397 million.
The Hong Kong Monetary Authority (HKMA) announced that the composite interest rate decreased by 1 basis point to 0.22% at the end of March 2021, from 0.23% at the end of February 2021, which mainly reflected a decrease in the weighted funding cost for deposits during the month.
The Urban Renewal Authority (URA) invites a total of 39 property developers to tender for the development of the Oak Street / Ivy Street Development Project in Tai Kok Tsui.  The URA will provide the relevant tender documents to the invited property developers, based on which they can submit tenders for the development. All tender submissions should reach the URA Headquarters at 26/F COSCO Tower, 183 Queen’s Road Central, by 12:00 noon on 20 May 2021 (Thursday).
China Mobile Hong Kong (CMHK) announced that the Company entered into a cooperation deal with Zhen Hua Engineering Company Limited to kick-start the "smart site" establishment and propel diversified 5G application. The smart site solutions aim to provide companies with smart and integrated products through IoT, spatial localization, mobile communication, cloud computing, big data and other technologies.
HKTV (01137.HK) announced the launch of EcoMart, its consumer-to-consumer (C2C) second-hand platform where VIP members can trade, exchange or transfer new or used items through a self-service revolving trading system on the free platform.

MARKET COMMENT .
*COMMODITIES/RESOURCES MIXED advanced after ALCOA gained the most in more than two years on Friday after reporting 1Q earnings that beat expectations.
ANGANG (347 HK +3.5%) MAANSHAN (323 HK +1.2%) CHALCO (2600 HK +2.1%).
COAL MINERS WEAK after sector rallied on Friday on the back of higher thermal coal prices.
SHENHUA (1088 HK -0.7%) March coal sales vol +12.2% YoY, YZ COAL (1171 HK -5.7%).
ZIJIN (2899 HK +4%) 1Q net income +141% YoY to 2.51b yuan.
*E-COMMERCE WEAK as ALIBABA's (9988 HK -1.5%) denied a report that Ant Group is exploring options for founder Jack Ma Yun to divest his stake in the company and give up control, as meetings with Chinese regulators signaled to the company that the move could help draw a line under Beijing's scrutiny of its biz. Regulatory risks continue to weigh on the sector.
After Market MEITUAN (3690 HK -0.35%) announced a placement and CB issue, see Aftermarket News
TENCENT (700 HK -0.8%) JD.COM (9618 HK-0.5%).
*TECH & COMPONENTS STRONG Ahead of APPLE's  new products launch event  on Tuesday.
TRULY (732 HK +2.4%) SUNNY OPT (2382 HK +5.2%) BYDE (285 HK +5.7%) SMIC (981 HK +3%).
*AUTO MAKERS STRONG as Shanghai Autoshow starts, boosted by optimism on Huawei's partnership with various auto makers to build high-end self-driving and electric-car brands. Huawei officially unveiled  a new car on the weekend, which uses lithium-ion batteries.
GEELY (175 HK +4.8%) GAC (2238 HK +3.8%) GREAT WALL (2333 HK +5.9%).
*PHARMA/MEDICAL SURGED as CANSINO BIO (6185 HK+7.5%) said it is monitoring its  Covid-19 vaccine more carefully after cases of blood clots forced other suppliers to  suspend inoculations.
UNION MEDICAL (2138 HK +10.4%) raised HK$231.2m in placement of 29.6m shs @ HK$7.80 each.
FORSUN PHARM (2196 HK +3.6%) saw support as China plans to approve BioNTech Covid-19 vaccine before July.
*CATERING MIXED NBS said output in hotels and restaurants, one of the hardest-  hit industries during the coronavirus pandemic, jumped 43.7% from the same period in  2020.
HAIDILAO (6862 HK +0.2%) YIHAI INTL (1579 HK +2.5%);
XIABUXIABU (520 HK -14%) slumped as the resignation of the CEO of its brand Coucou Hotpot raised concerns.
*MACAO FIRM tourism office said around 50% hotel rooms have been booked for May 1 Golden  Week so far, while the visitor traffic of the gambling hub was 190,000 in the latest  week. SANDS (1928 HK +1.8%) GALAXY (27 HK +1.2%) MELCO(200 HK +2.4%) SJM(880 HK +4%)
Taking to the local things are picking up but a lot of the operators are going to wait until mid May before telling staff if they will renew their contracts in June.

Regional Markets
AUSTRALIA 
Opened higher and worked higher to test 7,095 a few times in the morning session but failed to break out and then drifted lower, saw support around 7,070 level and traded sideways to close +2pts (flat) @7.066
Data out during market
New Home Sales Mar +90.3% MoM vs +22.9% Feb (F/cast was +20%)RBA meeting minutes due Tuesday
JAPAN
Nikkei opened flat but initially sold down to 29,550 despite strong trade data which it tested a couple of times before bouncing back to 29,650 and then worked better into the green and lunch. Good Industrial Production data too.  PM initially tested 29, 800 but didn’t break above and now drifting lower, then sold down at 2pm back into the red, support at 29,665 and then a tick up at the end to close flat +2pts (flat) @ 29,685
Topix followed a similar pattern but only briefly touch into the green around lunchtime hitting 1,966 before selling down to 1,955, ticked higher to close -4pt (flat) @ 1,957
Data out Pre market
Balance of Trade Mar ¥663.7B vs 215.9B Feb (revised from ¥217.4B) F/cast was +300B)
Exports +16.1% vs -4.5% Feb (Consensus was +11.6%)
Imports +5.7% vs +11.8% Feb (Consensus is +4.7%)
Later
Industrial Production Feb -1.3% MoM vs +3.1% Jan revised from +4.3% (F/cast was -2.1%)
Industrial Production Feb -2% YoY vs -5.3% Jan revised from -5.2% (F/cast was -2.6%)
Capacity Utilisation Feb -2.8% vs +4.7% Jan (F/cast was +2.1%)
Tomorrow we get Tertiary Industry Index
S KOREA  
Kospi opened flat and tested 3,194 in early trades but then rallied strongly to test 3,215 but didn’t quite reach and reversed to find support around 3,200 level before working better but only to 3,213; then traded sideways in the 3,205/210 range. Sold down just before 2pm to test Friday’s closing level before bouncing to close flat @ 3,199
Kosdaq saw a similar start but then worked gradually higher to 1,033 but again sold down around 2pm and closed +8pts (+0.8%) 1,030
TAIWAN 
Out in the morning Consumer Confidence Mar 76.52 vs 74.64 Feb (F/cast was 75)
Opened flat but trended higher though the day to close just off the day high +105pts (+0.6%) @ 17,263

CONNECT FLOWS
Shanghai 
Northbound RMB 45,962m Sell 19,701m : 26,261m Buy
Southbound HK$ 17,586m Sell 7,581m : 10,006m Buy
Shenzhen 
Northbound RMB 53,901m Sell 22,073m : 31,829m Buy
Southbound HK$ 20,688m Sell 9,000m : 11,688m Buy

Active Heavyweights
HKEX (00388.HK) +2.7%
BABA (09988.HK) -1.5%
AIA (01299.HK) -1%
TENCENT (00700.HK) -0.8%
MEITUAN (03690.HK) -0.3%
CCB (00939.HK) +0.2%
PING AN (02318.HK) -0.1%

HSI & HSCEI Constituents on Move:
SUNNY OPTICAL (02382.HK) +5.2%
GEELY AUTO (00175.HK) +4.8%
ALI HEALTH (00241.HK) +3.4%
CM BANK (03968.HK) +3.3%
WUXI BIO (02269.HK) +3.1%
CKH HOLDINGS (00001.HK) +1.2%, hitting new high

HSMI & HSSI Constituents on Move:
XIABUXIABU (00520.HK) -14.9%
FUYAO GLASS (03606.HK) +10.6%
SINOPHARM (01099.HK) +8.8%, hitting new high
TONGCHENG-ELONG (00780.HK) +6.5%, hitting new high
SHIMAO SERVICES (00873.HK) +4%, hitting new high
SINOPEC SEG (02386.HK)  +3.7%, hitting new high

MARKET HOURS NEWS.
Alibaba.com, the B2B cross-border trade platform of BABA-SW (09988.HK), announced that the real export amount of the platform during the March Expo snowballed 129% yearly with the order volume. and payment buyers expanding by 167% and 125%. This showed that online sales expo is slowly becoming a new window for foreign merchants to capture orders.
MEITUAN-W (03690.HK) announced the official rollout of its new-generation home-grown unmanned delivery cars in the Shunyi District of Beijing, with delivery scope mainly covering indoor areas, semi-closed zones and public highways.
JD-SW (09618.HK) announced that JD Logistics has entered into cooperation with TENCENT (00700.HK)'s smart retail segment, whereby the two firms will co-launch a new product.
GAC GROUP (02238.HK) plans to launch its first autonomous driving vehicle co-developed with Huawei after 2024, GAC General Manager Feng Xingya was quoted as saying at Auto Shanghai 2021. Equally, Feng revealed GAC's goal to derive half of its sales each from electric vehicles and half from hybrid cars in 2035.
BMW is striving for a quarter of its sales in China to be pure battery electric vehicles by 2025, as compared with only 4% last year, said the German automaker's China chief Jochen Goller.
361 DEGREES (01361.HK) has issued operational update for the first quarter of 2021 that the retail sales of its core branded products increased by high-teens during the period when compared to that for the same period of 2020.
BIDU-SW (09888.HK) Senior Vice President Li Zhenyu predicted at Auto Shanghai that the group will furnish a million cars with its Apollo self-driving system in the coming three to five years.  Apollo was among the first Chinese fleets to run unmanned tests on highways at night and under special weather conditions, announced BIDU-SW earlier.
TENCENT (00700.HK)-backed Chinese online retailer MissFresh has lodged a confidential application in the U.S. for its planned listing in the summer to fetch about US$500 million, IFR reported.
YATA Shopping Day will be held between 27 May and 2 June, and will be launched in advance on eShop between 21 April (this Wednesday) and 2 May. The eShop special promotion period is extended to 12 days for the first time.  With 1,500 items available on eShop, YATA CEO Susanna Wong said the department store will recruit 500-700 part-time employees during the promotion period, thus projecting an 8%-10% YoY overall eShop turnover growth this year.
Hang Seng Indexes Company today (19 April) launched the Hang Seng Property Service and Management Index, which will serve as a benchmark to reflect the overall stock price movement of the 30 largest Hong Kong-listed property management and related services companies.   The property service and management sector has been enjoying substantial growth in recent months. Compared to their parent real estate developers, Mainland property management companies could enjoy the benefits of asset-light model, leading to a higher return on assets and greater flexibility in response to changing market environment. Last year, 18 Mainland property management companies listed in Hong Kong – an all-time high in a single year. The market predictions indicate that by the end of 2021 there may be over 70 such companies listed in Hong Kong.
Head of BMW Group China said the indebtedness of Huachen Automotive Group does not involve the joint venture of BMW and Huachen in China, Cailian Press cited
Aihuishou has engaged Bank of America and Goldman Sachs in helping its IPO, planning to file for listing in mid-May and going public in the United States in early June, Reuters citing insiders. The Chinese electronics recycling platform aims to raise US$500 million to US$1 billion and to seek a valuation of US$4 billion to US$5 billion.
LINK REIT (00823.HK) said as the pandemic fades, it is striving to help tenants with their business recovery. Link is launching the ‘Dining Delights’ campaign, which will give away dining vouchers worth more than $14 million to encourage customers to patronise 66 Chinese restaurants across 59 Link malls. The vouchers will be given out in phases, with the first phase commencing on 22 April.
Volvo Cars is to provide XC90 SUVs equipped with backup steering as well as braking systems to Didi Chuxing's autonomous driving unit for tests. Didi will hence integrate Volvo's systems with Didi Gemini, its home-grown self-driving hardware platform.
TENCENT (00700.HK) unveiled a strategic cooperation with CPIC (02601.HK), whereby both parties will jointly nudge the fintech innovation and explore new scenarios and modules for business cooperation.
Amazon's video game division canceled development of an online role-playing game based on "Lord of the Rings", as it had failed to settle disputes with TENCENT (00700.HK), Bloomberg reported. The game had originally been developed by Amazon Game Studios alongside Leyou Technologies Holdings, which was then purchased by TENCENT last December, said the report.
EVERG VEHICLE (00708.HK) Executive Director Liu Yongzhuo announced that the Hengchi models will undergo trial production in 4Q21 with mass delivery starting from 2022.  All Hengchi models have a maximum comprehensive range of 700 km, and some models even surpass 800 km, Executive Vice President Dai Lei said at a news conference in Shanghai.
TRIP.COM-S (09961.HK) currently accounts for around 2% of the global market with huge room for growth, said James Liang, Co-founder and Executive Chairman of the Board. He saw tourism as a fast-growing industry catering to people's mental demand, ruling out possible sector saturation.  TRIP.COM-S CEO Jane Sun anticipated the pandemic to be subsiding as soon as possible, along with sequential launch of green channels and travel bubble initiatives across countries by end-2021.
TENCENT (00700.HK) announced further strategic upgrade by proposing "innovation with sustainable social value", which will come with an initial investment of RMB50 billion. A business wing will be set up to implement the strategy. Through the WeChat's post, the company said the RMB50-billion will be mobilized in innovation with sustainable social value, including basic science, education innovation, rural revitalization, carbon neutrality, FEW (food, energy and water), and more.
The TENCENT (00700.HK) backed Waterdrop has tapped Goldman Sachs, Morgan Stanley and Bank of America to start pre-marketing of its U.S. IPO, reported IFR.  A latest filing showed the Chinese online insurance startup intended to raise US$100 million, against US$500 million in earlier reports.
The PBoC Deputy Governor Li Bo said last night at Boao Forum for Asia that the Chinese central bank is studying regulatory rules on Bitcoins and Stablecoins, cited Xinhua News Agency.
GAC GROUP (02238.HK) announced the plan to achieve a 20% share of new energy vehicle (NEV) sales to the group's total sales volume by 2025, reported Cailian Press. The automaker also anticipated hybrid electric vehicle (HEV) sales to make up for over 20% of the total. On another note, GAC GROUP will beef up its strategic partnership with TENCENT (00700.HK) again by inking a deal today.
Macao DICJ announced that 1Q21 gross income from games of fortune amounted to MOP23.642 billion, down 22.4% yearly but up 8.3% quarterly. During the quarter, VIP income was MOP9.128 billion, representing 38.6% of the total figure.
EVERG VEHICLE (00708.HK)  Executive Director Liu Yongzhuo revealed that the intelligent production base of the company will run trial production at the end of this year, Chinese media reported.   Earlier, EVERGRANDE (03333.HK)Chairman Hui Ka Yan had also disclosed at the results conference that the NEV of EVERG VEHICLE will have production trial at the year end and mass delivery next year, with the schedule moving along now.
SAIC-GM-Wuling Automobile became one of the first group of partners for deep cooperation with DJI, Chinese media reported. Both parties will adopt strategic alliance mode with the first car model commencing production this year.
On Coinbase (COIN.US)'s first trading day, Chief Executive Brian Armstrong disposed of roughly US$292 million in shares, according to regulatory filings.
I.T (00999.HK) announced that the proposed privatization had been passed at the SGM and that it has applied to the Stock Exchange for the withdrawal of the listing of the Shares on the Stock Exchange, with effect from 9:00 a.m. on 30 April 2021.
Airport Authority Hong Kong (AA) today released Hong Kong International Airport’s (HKIA) traffic statistics for March 2021.  During the month, HKIA handled 58,000 passengers and 10,600 flights, marking year-on-year decreases of 89.9% and 12.5%, respectively. Cargo throughput saw a year-on-year increase of 4.9% to 397,000 tonnes.
Over 50 new homes were transacted at the weekend given new project launches. SHK PPT (00016.HK)'s Regency Bay II had obtained the occupation permit, launching 42 additional units.
South Land, the phase 1 property development at MTR CORPORATION (00066.HK) Wong Chuk Hang Station co-developed by ROAD KING INFRA (01098.HK) and PING AN (02318.HK), would offer 800 units.
As for second-hand market, Centaline's ten major housing estates tracked 15 deals at the weekend, down 21% weekly but still standing in double-digits.

PRE MARKET HOURS NEWS 
TENCENT (00700.HK) announced the official debut of "Tencent Big Data Tiangong" its home-grown fourth-generation digital and smart fusion computing platform.   Tencent Big Data is accessing over 55 trillion pieces of data and computing over 65 trillion pieces in real time per day, being the cloud manufacturer with the strongest computing ability and the highest real-time computing volume in China.
BIDU-SW (09888.HK) (BIDU.US) senior vice president Li Zhenyu said the group had formally established a smart auto company (named later as Jidu Auto) in January 2021, reported The Paper.   Jidu Auto, BIDU-SW's joint venture with Geely, will achieve mass production as late as 2024.  While Jidu Auto is related to Baidu's intelligent driving group on a macro basis, Li said Apollo is under BIDU-SW and Jidu Auto is an independently-operated entity
CHINA AOYUAN (03883.HK)'s gross margin. declined 4.6 ppts to 25.1 ppts annually last year given orderly destocking for some projects, thus greatly surrendering profits, as explained by Senior Vice President Chan Ka Yeung Jacky.  With large-scale stock clearance broadly complete, Chan expected this year's gross margin to bounce back to 27%-28%.
CMGE (00302.HK)  +0.060 (+1.935%) is setting foot in the overseas market this year, said Vice Chairman Hendrick Sin, who anticipated the overseas market to contribute as high as 5% to 2021 revenue along with a plan to roll out roughly 10 new games.  In the future, the mobile game developer is joining hands with Douyin, KUAISHOU-W (01024.HK), BILIBILI-SW (09626.HK)  in terms of animation and movies, which may push forward its games on top of bringing licensing income, disclosed Sin.
Macao Government Tourism Office announced last Saturday that visitor arrivals continued to show an upward trend in recent days. A total of 191,800 visitor arrivals were registered over the past week (9 – 15 April) with an average daily volume of 27,404 visitors, which surged by 111.7% compared with the average daily visitor arrivals during the Spring Festival Golden Week (12,947).  In addition, the gambling hub welcomed 34,252 visitor arrivals on 16 April (Friday), the highest daily record of visitor arrivals since the start of the pandemic. Hotel establishments saw an average occupancy rate of 61.0% between 9 and 15 April, a rise of 12.7 percentage points compared with that of the Spring Festival Golden Week (48.3%).
UM HEALTHCARE (02138.HK) announced planned placing of 29.636 million shares to NEW WORLD DEV (00017.HK) Executive Vice-chairman Adrian Cheng and Aspex Master Fund, which operates as a private investment fund.  The estimated net proceeds from the Placing was HK$231 million.
MEITUAN-W (03690.HK) announced that the 2021 AGM, which was originally scheduled to be held on May 21, 2021, as set out in the 2020 Annual Results Announcement, will be postponed to a date in June this year falling on or before June 30, 2021, due to the adjustment of work arrangement.
The HKSAR Government announced yesterday the flight suspension for India, Pakistan, and the Philippines from April 20. Persons who have stayed in these places will also be restricted from boarding for Hong Kong. The suspension will be effective for 14 days.  The Department of Health announced that the tightened flight-specific suspension mechanism was invoked to prohibit landing of passenger flights of CATHAY PAC AIR (00293.HK) from Manila, the Philippines in Hong Kong from April 19 to May 2; and to prohibit landing of passenger flights of TATA SIA Airlines (Vistara) from Mumbai, India in Hong Kong during the same period.
The PBoC Deputy Governor Li Bo announced at Boao Forum for Asia 2021 that there is no official schedule to roll out digital RMB, cited China Securities Journal.
In the upcoming Beijing Winter Olympics, digital RMB will be available to both domestic users and international users, disclosed Li. The Chinese central bank will go ahead with digital RMB trial with a wider scenario coverage.

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