Victoria’s COVID-19 Cases Jump by 108

Canada Restricts Dealings With Hong Kong Over New Security Law

OTTAWA—Foreign Affairs Minister Francois−Philippe Champagne says Canada is suspending its extradition treaty with Hong Kong as part of a package of responses to the new security law China has imposed on the territory. In a statement, Champagne says Canada will also treat sensitive goods being exported to Hong Kong as if they were being sent to mainland China. That means outright banning some military−related goods from being traded there. China imposed strict new controls on Hong Kong this week, in what Champagne calls a violation of the “one country, two systems” philosophy that was supposed to last 50 years after Britain returned Hong Kong to China in 1997. Champagne’s statement says Hong Kong’s place in the global economy was based on that promise and needs to be reassessed. Canada’s moves…

Victoria has recorded 108 new COVID-19 cases, forcing the lockdown of nine public housing towers and two more Melbourne postcodes.

Premier Daniel Andrews said on July 4 the public housing crackdown would affect 3000 people and would require an unprecedented level of help from police.

“There will be no one allowed in…and no one allowed out,” he said.

Residents in the Flemington and Kensington public housing units who are some of the city’s most vulnerable will receive food deliveries and medical, drug and alcohol support.

There are 509 active cases with 25 people in hospital and three in intensive care.

The extra Melbourne postcodes to be locked down from 11:59 pm tonight are 3031 and 3051.

Andi Yu in Melbourne

Focus News: Victoria’s COVID-19 Cases Jump by 108

Nasdaq-Listed Chinese Company Cheated Creditors by Using Fake Gold as Loan Collateral

Nasdaq-listed Chinese jeweler Kingold Jewelry Inc. (KGJI) has received 20 billion yuan ($2.8 billion) loans by claiming to use tons of gold as collateral in the past five years. However, the creditors discovered that some of the gold bars are gilded copper alloy. The loans were protected by insurance issued by Chinese state-run PICC Property and Casualty Company (PICC) and some smaller insurers. But the insurers refuse to pay for the loss of Kingold’s creditors by claiming that the insurance contracts defined that they won’t take care of the loss that was created by the policyholder. However, the creditors emphasized that the insurance agreement ruled that insurers will take responsibility if the gold that is supplied by the policyholder doesn’t meet the standard. Kingold designs and manufactures jewelry. It was…