VIP Class Notes (Tibo)

universal income

Maybe Trump will refuse to resign, I don’t know what is going on for the next time.
Trump is always do some very stupid things. He has done a lot of stupid things for year so it is time to change another person.
Both of them are not friendly to China.

ant financial
They have small funds, about RMB3b.
But they use financial leverage more than 100x to get money from the capital market and banks and earn money by lending it. Even the people who have not enough ability to repay in the future.
Alipay gets your data and they will lend money

If you want to buy an LV bag you can cost maybe 5% of the normal price.

I think half a year later it will restore the IPO but if Jack Ma continues to do some crazy things for example talk about something.
He said the banks are old and the central bank supervises the organization  and gives policies that are too strict and said in China there will never be a financial system risk because china financial has no system.

in the future, banks, insurances and other financial institutions will be supervised under a strict policy.
My wife works in financial supervision organization

Maybe Trump will refuse to resign, I don’t know what is going to happen in the future
Trump has always done some very stupid things. He has done a lot of stupid things for years so it is time to change to another person. / it is time for a change / time to replace him.
Both of them are not friendly to China.

They have small funds, about RMB3b.
But they use financial leverage more than 100x to get money from the capital market and banks and earn money by lending it.  / lend it and earn money from the interests.
they even lend to the people who do not have the ability to repay in the future. / they even lend to people who give a credit risk.
Alipay gets your data and they will lend money

If you want to buy an LV bag it costs maybe 5% of the normal price on pingduoduo.

I think half a year later it will resume the IPO but if Jack Ma continues to do some crazy things for example criticize Beijing.
He said the banks are old and the central bank supervises the organization  and gives policies that are too strict and said in China there will never be a financial system risk because China h has no financial system…

Vocabulary

loophole (n) 漏洞
He used a loophole to get rich

one stop shop (n) : a solution to all your needs
I believe alipay will become the one stop shop for personal finance

China Banking Regulatory Commission (CBRC) 银保监会
The CBRC makes sure institutions follow financial rules

regulator (n)

luxury symbol (n) : something to show you are rich
LV bags are used as luxury symbols

to sue (v)  bring a case against someone to court
They were sued for selling fake products

lawsuit (n)
LV started a lawsuit against them because they were selling fake bags.

credit rating (n) : score based on ability to pay back debt
With a good credit rating you can borrow at a lower rate

universal income : giving everyone some money to cover basic life
Some governments think about implement universal income in the future