00:00 Welcome to the Espresso Finance Show on October 24th.
00:05 [Music]
00:31 [Music]
00:36 Good evening, I am Wei Min.
00:38 The Ma Bin and Ma Gu performance has not improved since the election.
00:42 In addition, the exchange rate of dollars has been the lowest level in 25 years.
00:46 The exchange rate of new yuan is also the lowest in history.
00:49 The former prime minister Ismail Shabili expressed concern at the meeting today.
00:53 He believes that this phenomenon shows that the Democratic Party of China is facing a serious investor confidence crisis.
00:58 So he urged the government to take action quickly to ensure that the economy returns to normal.
01:02 As of today, the exchange rate of dollars has slightly rebounded to $4.7825 due to the oversell.
01:08 But the exchange rate of new yuan has lost 3.50 points, which is a new low in history of $3.5020.
01:15 The former prime minister of Bingzhou, Cao Guan, who is the chairman of the Bingzhou Development Organization,
01:20 announced earlier that he would cancel the cooperation between the joint venture company Wumex,
01:25 the private limited company, and the second industrial park project in the Badu River Bay.
01:30 This is because Wumex's equity changes did not get approval first, which changed the company's control.
01:36 The three of them issued a statement today, officially receiving the termination of the cooperation development agreement.
01:42 The content pointed out that the termination notice will be 90 days late.
01:45 This cooperation development agreement will be terminated at any time.
01:48 And the Bingzhou Development Organization will refund the deposit in 30 days.
01:52 That is 64,622,071.82 RMB.
01:57 Analysts estimate that the company's equity acquisition agreement and new equity structure
02:03 will be signed and acquired by the end of this month to accelerate the nationwide 5G development plan.
02:10 The Danish investment bank analysts believe that China's second 5G network plan is expected to start early 2024.
02:16 The plan will be implemented by the end of this year when the first 5G network reaches 80% of the population.
02:23 At that time, U Mobile and Mingxun will join the second physical company.
02:27 The first 5G network planning company is the National Digital Limited Company.
02:32 The government expects to sell its equity rights to make it a private enterprise.
02:37 Once Malaysia turns to dual 5G network operation, it will play a complementary role.
02:42 That's all for today's Cai Jin's special. Thank you for watching.
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