Beijing’s biggest technology, the filter explosion, is sending clean energy stocks

This year, the Chinese government has put a lot of pressure on key strategic sectors of the economy. Beijing has tightened control over its growing private screening sector before increasing its pressure on technology titans. Alibaba Inc. (NYSE: Baba) and Tencent Holdings (OTCPK: TCEHY).

The wave of activity has led to the elimination of tens of billions of dollars from China’s major technology sector in just a few months, but it has proved to be a huge boost for China’s clean energy sector.

As investors turn to clean energy, shares of China’s clean energy companies have been booming, and Beijing will continue to support the fast-growing sector as Big Tech cools down.

In the first few months of the year, after the peak trade, China CSI New Energy Index It has increased by 55% in the last three months, this time related to the conflict.

In contrast, Hong Kong Sung Tech Technical Index Decreased by 12% during the period, KraneShares CSI China Internet ETF (NYSEARCA: KWEB) It dropped 57% after mid-February. KWEB in Information Technology, Software and Services and IT Services, Tantent, Alibaba and JD.com Inc. (NASDAQ: JD) The three largest holdings.

Related: Gazprom: Nord Stream will supply gas to Europe on May 2 this year

In the first half of the year, Chinese currencies, which focused heavily on green energy issues, easily outperformed other Chinese broadcasts, with Kai-Kong Chai, a senior portfolio manager for major Chinese stocks in Hong Kong, Hong Kong. The company is very significant in the renewable energy sector, especially in companies in the solar supply chain.

Tea houses in trouble

In June, Beijing announced a dramatic reduction in imports for private oil refineries. According to Reuters, China’s independent refineries have been awarded 35.24 million tons of crude oil imports in the second quota category this year. This is a 35 percent reduction from 53.88 million tons in the same period a year ago.

The biggest drop came as a result of the government’s crackdown on private Chinese filters, which have grown exponentially over the past five years. The move is intended to give Beijing more control over foreign oil flow, as it doubles Beijing’s corrupt practices, such as tax evasion, oil smuggling and violations of environmental and emissions regulations.

The move aims to re-control China’s crude oil refining sector, starting with private refineries, over state-controlled factories. And he remembers the action he took in the past on the big tech projects that were seen to be dangerously dangerous and endangering party politics.

If Chinese tea houses are rooted, government players are constantly gaining market share China Petroleum and Chemical Corporation (NYSE: SNP), also known as Synopek, And Petro China Company (NYSE: PTR) After Beijing partially liberated its oil industry in 2015. Shipote goods now control about 30% of China’s crude volume. In 2013, it reached ~ 10%.

According to the report, China’s national oil companies (NOCs) could be the biggest winners due to strong emissions and rising climate.

Source Bloomberg

Technological cleansing

In the expanding Chinese technology sector, the ax fell further.

Jack Ma, founder of Alibaba Group, has been in a state of turmoil since he criticized the government last year for calling for excessive regulation. Beijing has responded by canceling the much-anticipated Mao IPO Group of antsThe world’s largest Fintech – in the process of “correcting” the company and preventing further “capital chaos”.ยป

Beijing has not been blurred by any sign of further progress.

Over the past few months, attacks on various sectors of the Chinese economy have sent shockwaves through the global financial markets, with US investors finding themselves in the hot spot in some of the hottest sectors.

First, Beijing dismantled bitcoin by restricting bitcoin mining due to excessive speculation and warning not to provide crypto services.

Supervisors then turned their eyes to a giant man riding a Chinese horse DD Global Inc. (NYSE: DIDI) Information breach allegations before Chinese anti-trust administrator Tencent Music Entertainment (NYSE: TME) To grant exclusive music license for online music.

Beijing recently cracked down on China’s wide online gaming sector, Tencent Holdings and Whip XD Inc. (OTCPK: XDNCF) The Chinese government-controlled publication has identified online games as “spiritual opium” and “electronic medicine” according to several reports.

Meanwhile, their American video game peers Activity Breeze (NASDAQ: ATVI), Electronic Arts (NASDAQ: EA) and Take: Two interactive software (NASDAQ: TTWO)

Activism, in turn, poses a significant threat to the central government call of Duty franchise; According to the latest SEC file, the total revenue for Fiscal 2021 was $ 5.21 billion, $ 3.2 billion from international sources, and 39% of Take-Two’s total revenue was $ 813.4 million last year.

By Alex Kimani to Oilprice.com

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