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☆ Chinese train station design draws mixed reviews online
▼ + stars: | 2024-04-22 | by ( Martha Zhou | ) edition.cnn.com time to read: +1 min

CNN —A shiny new high-speed railway station is usually a highly anticipated affair in China – but this one is causing controversy online thanks to its eye-catching design. According to a report in Chinese state media, construction on the upcoming Nanjing North Railway Station will begin in the first half of this year. The report cites officials as saying the design was inspired by the Yangtze River, which flows through the city, and by blooming flowers. Many commenters on Chinese social media site Weibo didn’t see a plum blossom in the design. “Nanjing North Station modeling renderings resemble sanitary pad.

Persons: ” Organizations: CNN, Nanjing North Railway, Weibo, Wings Locations: China, Nanjing, Jiangsu

☆ Chinese officials urge calm after Evergrande fears reportedly spark small bank run
▼ + stars: | 2023-10-12 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Depositors lined up at the bank in Cangzhou, in Hebei province, to withdraw their money, according to photos and videos circulated online this week, prompting an appeal for calm by officials. The bank has a statement from the city government posted at its entrance, assuring the public that their deposits are safe, Yicai said. It was unclear how many depositors took part in the bank run or how much they withdrew. Central Huijin Investment, an arm of China’s sovereign wealth fund, bought tens of millions of shares in Bank of China, Agricultural Bank of China, China Construction Bank and Industrial and Commercial Bank of China, according to separate stock exchange filings made by the banks. The best performer has been China Construction Bank, which was up 5.6% in Hong Kong and 2.7% in Shanghai.

Persons: Hong Kong CNN —, ”, Evergrande, Xu Jiayin, Yicai, Weeks, ’, —, Martha Zhou Organizations: Hong Kong CNN, Police, CNN, Bank of Cangzhou, Bank, Huijin Investment, Bank of China, Agricultural Bank of, China Construction Bank, Industrial, Commercial Bank of China Locations: China, Hong Kong, Cangzhou, Hebei province, city’s, Beijing, Henan, Bank, Agricultural Bank of China, Shanghai

The zoo is run by the local government, which was said to be running out of money and therefore unable to feed its charges. These vehicles are legal entities created by Chinese cities to circumvent borrowing restrictions imposed by the central government in Beijing. “Why hurt small businesses which are the weakest?”Noodle sellers in Shanghai have been fined for adding cucumber to their dishes. Last year, Beijing issued a directive forbidding local governments from imposing “arbitrary fines” to generate income, and dispatched inspection teams to check that the policy was being followed. The scale of financial stress among China’s local governments is so big that “creative” sources of income can only cover a relatively small shortfall, he said.

Persons: hadn’t, Xi Jinping’s, ”, Willy Lam, Lam, “, Aly Song, Jiemian, Logan Wright, hasn’t, Li Qiang, Steve Tsang, Joseph Cheng, —, Martha Zhou Organizations: Hong Kong CNN, Species Fund, CNN Local, China Newsweek, ” CNN, China National Radio, Washington, Jamestown Foundation, CNN, ”, Weibo, “, SOAS China, SOAS University of London, City University of Hong Locations: China, Hong Kong, Dongshan, Liaoning, Beijing, Shanghai, Henan, Huizhou, Nanchang, Qingdao, City University of Hong Kong

CNN —China’s civilian spy agency has exposed a Chinese national for allegedly providing sensitive military information to the CIA, the latest in a string of highly public espionage accusations between Washington and Beijing. Zeng was allegedly offered “a huge amount” of money and immigration to the US for his family, in exchange for sensitive information about the Chinese military, the statement said. China’s announcement about the alleged CIA spy came a week after two US Navy sailors in California were arrested for allegedly providing sensitive US military information to Chinese intelligence officers. China’s Ministry of State Security is a civilian agency that oversees intelligence and counterintelligence both within China and overseas. China’s military also has its own intelligence agency.

Persons: CNN —, Zeng, ”, Xi Jinping Organizations: CNN, CIA, China’s Ministry of State Security, US, FBI, China’s Communist Party, The New York Times Locations: Washington, Beijing, Italy, China, California, United States, Russia

Pan Gongsheng was appointed Saturday as the new Communist Party chief at the People’s Bank of China (PBOC), in a surprise move as Beijing bolsters its drive to arrest the country’s economic slowdown and stem a slide in its currency. Pan currently serves as the deputy governor of the PBOC. “My initial reaction is this suggests Xi [Jinping] is more concerned about China’s economy than before the 20th Party Congress,” Thomas said. Since then, he has spent nearly two decades working at large state-owned banks, including the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China (ABC). After returning to China, he was promoted to deputy governor at the PBOC in 2012.

Persons: Yi Gang, Pan Gongsheng, Janet Yellen, Pan, Yi, didn’t, Guo Shuqing, Neil Thomas, wasn’t, ” Thomas, Xi, Mao, Thomas, China’s, Biden, ” Organizations: Beijing CNN, Cambridge University, Harvard University, Communist Party, People’s Bank of China, Securities Times, CNN, Ant, Asia Society, Center for, Communist Party’s, Committee, 20th Party Congress, Wall Street Journal, Treasury Department, Renmin University of China, Industrial, Commercial Bank of China, Agricultural Bank of China, ABC, Harvard University’s Kennedy School of Government, State Administration of Foreign Exchange, Beijing, P Global, PMI Locations: Hong Kong, Beijing, China, Shanghai, Center for China, United States, West

It was by a young Chinese pitch invader, eager to meet his hero, the seven-time winner of the Ballon d’Or. Videos that have gone viral on Chinese social media show the young fan leaping from the stands before sprinting toward the Argentine striker – who like him was wearing the number 10 jersey – and giving him a hug. A Chinese fan runs onto the pitch to hug soccer superstar Lionel Messi during a friendly match between Argentina and Australia at the Worker's Stadium in Beijing on June 15. Ng Han Guan/APWith the crowd cheering three security guards then give chase, the first of them falling over as the young fan evades his grasp. On Chinese social media, many users – football fans or otherwise – celebrated the young fan’s sprint across the grass pitch as a liberating moment.

Persons: Lionel Messi –, –, Messi, Lionel Messi, Ng Han Guan, Emiliano Martinez, ”, Thomas Peter, ” “ Messi, I’m, flailing, “ Organizations: Beijing CNN, Australia, Argentine, Workers, Global Times, Messi, Reuters, FIFA, De Football Association, Indonesia Locations: Beijing, Argentina, Australia, China, Jakarta

☆ Elon Musk: CEOs flock to China as risks to trade and investment rise
▼ + stars: | 2023-05-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +8 min

To drum up business, Chinese leaders have urged foreign companies to invest more in the country, promising them an open and level playing field. “The interests of the United States and China are intertwined like conjoined twins,” he was quoted as saying by the foreign ministry. Over time, “there will be less trade” between China and the United States, Dimon predicted. The move was seen as retaliation for restrictions the United States has imposed on Chinese chipmakers. The interests of the United States and China are intertwined like conjoined twins.

Persons: Elon, Laxman, Jamie Dimon, Qin Gang, Tesla, Elon Musk, Musk, ”, Warren Buffett, Dimon’s, Dimon, That’s, Bain, “ who’s, ” Michael Hart, Ben Cavender, Nick Marro, Tim Cook, Cook, Marro, ‘, ” —, Sophie Jeong, Martha Zhou Organizations: Hong Kong CNN, Tesla, Starbucks, JPMorgan, Apple, Samsung, Aramco, Volkswagen, HSBC, Standard Chartered, Foreign, China's Ministry of Foreign Affairs, Reuters, China’s Foreign, Shanghai’s Communist Party, Bloomberg, Group, American Chamber of Commerce, CNN, British, of Commerce, China Market Research Group, US, Micron, Economist Intelligence Unit, “ Companies, China Development Forum Locations: Hong Kong, China, Beijing, United States, Shanghai, Taiwan, Washington, New York, American, Xinjiang

☆ Cash-strapped Chinese cities are cutting medical benefits for seniors
▼ + stars: | 2023-03-31 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Censors removed hashtags for “Wuhan health insurance” from Weibo’s hot topics section after the demonstrations began in January. State media reported at the time that some other regions had already spent public money on mass testing. CFOTO/Future Publishing/Getty ImagesCovering the shortfallChina’s health insurance scheme is a key part of its limited social safety net. To protesters, however, it looked like local governments were dipping into their individual accounts to cover the shortfalls of the collective pool. “There has to be some resolution of the financial capacity of local governments to meet current, and prospective, age-related costs,” Magnus said.

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