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Citi's wealth unit has seen at least 11 senior execs exit since Merrill Lynch veteran Sieg joined in September. The latest departure is David Bailin, chief investment officer for the global wealth division, who announced his departure on Monday. Sieg's mandate is to turn around the wealth business, which was barely profitable this past quarter. Sieg also plans to expand Citi's already successful wealth business in Asia. At least two other senior Asia executives have left.
Persons: Andy Sieg, Merrill Lynch, Sieg, David Bailin, Bailin, Fraser, Andy, Mark Mason, Shyam Sambamurthy, Merril Lynch, Don Plaus, Hale Behzadi, Citi David, Eduardo Martinez Campos, Keith Lee Hong, Fernando Lopez Munoz, Luigi Pigorni, Jeff Sutton, Eduardo, Seamus Yin, Hayley Cuccinello Organizations: Citi, Business, Bankers, Citi Wealth, Citi Global Wealth, North America, Eduardo Martinez Campos Head, Mark, Mark Mills Regional, Fernando Lopez Munoz Head, Jeff Sutton Global, Eduardo Ventura, West Locations: Asia, Hong Kong, Singapore, Keith Lee Hong Kong, Mark Mills, Shyam Sambamurthy South Asia, America, West China, hcuccinello@businessinsider.com
Hong Kong CNN —Chinese runner He Jie’s victory Sunday in the Beijing Half Marathon is facing a probe after his win was called into question by Chinese internet users because a trio of African runners appeared to deliberately slow down to let him win. The Chinese runner crossed the finish line in 1:03:44 to claim the $5,500 first prize, with the African trio just one second behind in joint-second place. The video clip shows the African runners applauding He’s win and patting him on the back, though the Asian Games marathon champion appears less enthused despite winning his first ever competitive half marathon. Some Chinese internet users called for an investigation into the race, while others demanded action from organizers. He is ranked 77th in the world in men’s marathon by World Athletics and is expected to lead the way for Asian runners in the upcoming Paris 2024 Summer Olympics.
Persons: Kenya’s Willy Mnangat, Robert Keter, Ethiopia’s, He’s, patting, , , ” Xstep, It’s, Mark Dreyer, That’s, “ It’s, Jie, ” Dreyer Organizations: Hong Kong CNN, Asian Games, Beijing Municipal Sports Bureau, Chinese Athletics Association, CNN, Sporting, World Athletics Locations: Hong Kong, Beijing, Kenya, Weibo, China’s Ningxia
Taiwan's 7.2-magnitude earthquake has drawn seemingly friendly messages on China's social media. But they're also indicative of China's ambitions for Taiwan, and what Chinese people think of the island. AdvertisementA 7.2-magnitude earthquake that hit Taiwan on Wednesday morning prompted a wave of concerned messages on mainland China's social media, diverting from the usual hostile rhetoric toward the self-governed island. Like many of China's social media platforms, Weibo is heavily censored and moderated. However, kinetic conflict is still widely viewed on social media as only one of several options for unification.
Persons: they're, , Fabian Hamacher, Xi Jinping, Zhang Yongjin, Xi Organizations: Service, Wednesday, Reuters, REUTERS, Business, Taiwan, People's Liberation Army, PLA, Getty, Observers Locations: Taiwan, Hualien, New Taipei City, Weibo, Beijing, China, Shiyuan Township, Jishishan County, Gansu Province, Xinhua, Sichuan, Taipei
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. You’re probably aware that around 30% of the world’s countries drive on the left while 70% drive on the right. In Europe, Napoleon Bonaparte had a big hand in it, while in the United States, we need to go back to the time of wagon trains. In the United States, at least, an obscure tax rule helps explain why. Our partners at CNN Underscored, a product reviews and recommendations guide owned by CNN, have selected 22 must-haves for luxurious train travel in 2024.
Persons: Napoleon Bonaparte, it’s, There’s, you’re Organizations: CNN, Tourism, Engineering Locations: Europe, United States, London, Asia, Singapore, Tokyo, Japan, Africa, Rail, China, British, Australia, Philippines, Chocolate, CNN Italy, Bologna, Pisa . Spain
A top advisor suggested that China lower its marriage age to 18, and people aren't happy with him. It's a further sign that China's population woes can't be solved through family policy alone. His proposal, however, went viral and was quickly slammed online, a further sign that China's population woes are rooted beyond just family policies. "I thought at least those who have experienced childbirth should propose these reproduction suggestions," said one top comment with 7,500 likes on Weibo, China's version of X. China's population decreased by around 2 million people in 2023, while its birth rates have declined to their lowest levels since 1949, per government statistics.
Persons: Gan Huatian, It's, , Gan, Mao Zedong's Organizations: Service, National Committee of, Political Consultative, National People's Congress, West China Hospital, Business Locations: China, Beijing, Sichuan, Weibo
In today's big story, we're looking at bitcoin's latest rally and what's driving it so high this time around . The milestone comes amid a massive rally for bitcoin over the past month, where its price has surged almost 60%. Business Insider's Phil Rosen has a full rundown on what's pushing bitcoin's price so high this time . SOPA Images / GettyA boon for bitcoin doesn't mean everyone in the space wins. The insider I spoke to said there's no single, agreed-upon narrative for what's driving crypto toward a new peak.
Persons: , you've, Phil Rosen, BlackRock's, Jamie Dimon, there's, Tom Williams, Doom, Roubini, BofA, Li Qiang, headwinds, Mark Zuckerberg's, Andrew Bosworth, Sam Altman's, Altman, Hugo Herrera, Lachlan Murdoch, Nordstrom, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Bitcoin, JPMorgan, Bank of America, Beijing, Apple, Getty, European Commission, Employees, BI, Boomers, Fox, Target Locations: bitcoin, China, Chengdu, Southwest China's Sichuan, New York, London
CNN —Grab your camera and slap on something flame resistant, it’s time to witness one of China’s most incredible displays – the fire dragon dance. Dragon dances have been documented at ceremonial events since the Han Dynasty (202 BCE to 220 CE), while fire dragon dances began appearing in records during the Qing Dynasty (1644-1911) and in the Republican era (1912-1949). Some historians say fire dragon dances date back even further, to the Ming Dynasty (1368-1644). Puzhai Fire Dragon, Fengshun County, GuangdongEntertainers perform a fire dragon dance to celebrate the Lantern Festival in Puzhai town, in China's Guangdong province. Tongliang Fire Dragon, ChongqingVideo Ad Feedback See a dragon dance with molten iron fireworks 00:56 - Source: CNNThe Tongliang Fire Dragon in Chongqing province is undoubtedly one of the grandest fire dragon dance performances of them all.
Persons: , Kwok Kam Chau, Kwok, We’ve, Liu Long Organizations: CNN, Republican, Hong Kong Baptist University, China’s, Steel Locations: Fengshun County, Guangdong, Puzhai, China's Guangdong province, Imaginechina, China, Hunan, China’s, Miao Autonomous Prefecture, Hunan province, Huanglongxi, Sichuan, Chengdu, China's Sichuan province, Chongqing, Chongqing province, majestically, Qicaimeng, Guizhou, Dafang County, Guizhou province
To find the dance circle in the bed-and-breakfast’s courtyard, drive north from the bedsheet factory converted into a crafts market, toward the vegan canteen urging diners to “walk barefoot in the soil and bathe in the sunshine.” If you see the unmanned craft beer bar where customers pay on the honor system, you’ve gone too far. Welcome to the Chinese mountain city of Dali, also sometimes known as Dalifornia, an oasis for China’s disaffected, drifting or just plain curious. The city’s nickname is a homage to California, and the easy-living, tree-hugging, sun-soaked stereotypes it evokes. It is also a nod to the influx of tech employees who have flocked there since the rise of remote work during the pandemic, to code amid the picturesque surroundings, nestled between snow-capped, 10,000-foot peaks in southwest China, on the shores of glistening Erhai Lake.
Persons: you’ve Locations: Dali, California, China, glistening
China has just opened the deepest and largest underground laboratory in the world. AdvertisementChina has opened the biggest and deepest underground laboratory in the world in a bid to uncover the secrets of dark matter. That leaves us with one overarching theory; that there is another type of matter acting on the universe, or so-called dark matter. CJPL hosts the Particle and Astrophysical Xenon Experiments (PandaX) and the China Dark Matter Experiment. "There is enough replication already," he said, adding that it may be better to try to find a new approach in the hunt for dark matter.
Persons: , Gran, Ning Zhao, Juan Collar Organizations: Service, Gran Sasso National Laboratory, Nature News, Nature, Sanford Underground Research, Shanghai Jiao Tong, University of Chicago Locations: China, China's Sichuan Province, CJPL, Sichuan, Italy, , South Dakota, Shanghai, Shanghai Jiao Tong University, Illinois
The quake struck Wushi county, also known as Uqturpan county, in Aksu prefecture near the Kyrgyzstan border shortly after 2 a.m. local time, state-run news agency Xinhua reported. Strong tremors caused two houses to collapse and downed two major power lines near the epicenter, though electricity was quickly restored, according to Xinhua. The Xinjiang railway authority immediately sealed off routes in areas affected by the quake and suspended 27 trains, Xinhua reported. Nearly 200 rescue workers have been dispatched to the quake zone, and hundreds more are being assembled, Xinhua reported. The tremors were also felt across the border in Kyrgyzstan, according to the United States Geological Survey.
Persons: Organizations: Hong Kong CNN, Xinhua, CCTV, China Earthquake Networks, United States Geological Survey, Reuters, Residents, United Nations Locations: Hong Kong, China’s, Xinjiang, Central, Aksu prefecture, Kyrgyzstan, Xinhua, Wushi, Kashgar, Hotan, Kazakhstan, Almaty, Uzbekistan, China, Beijing, Gansu, Qinghai
CNN —Rescuers are racing to reach at least 47 people buried in a landslide in southwestern China on Monday, according to state media. The landslide hit the mountain village of Liangshui in Yunnan province shortly before dawn, when most residents were asleep. More than 300 rescue workers were deployed along with dozens of fire engines and earth-moving equipment, according to CCTV. One man was pulled from the rubble shortly after 11 a.m. local time, state-run news agency Xinhua reported. Much of southern China, including Yunnan, is in the middle of a cold snap, with temperatures dropping near or below freezing, according to China’s Meteorological Administration.
Organizations: CNN, CCTV, Xinhua, China’s Meteorological Administration Locations: China, Liangshui, Yunnan
BEIJING (Reuters) - A landslide in a city in the northeast of China's Yunnan province has left at least 47 people unaccounted for and rescue operations were currently underway, Chinese state media said on Monday. At about 5:51 a.m. (2151 GMT), a landslide hit the city of Zhaotong and local government officials launched a disaster relief emergency response, the People's Daily reported. It's not clear what caused the landslide. Yunnan, in southwest China, is among several provinces in the country's southern region currently experiencing a cold wave and bitter temperatures near or below freezing, according to the National Meteorological Centre. (Reporting by Bernard Orr and Qiaoyi Li; Editing by Christian Schmollinger)
Persons: Bernard Orr, Qiaoyi Li, Christian Schmollinger Organizations: National Meteorological Centre Locations: BEIJING, China's Yunnan, Zhaotong, Yunnan, China
Myanmar hands over to China thousands of telecom fraud suspects
  + stars: | 2023-11-21 | by ( ) www.reuters.com   time to read: +2 min
BEIJING, Nov 21 (Reuters) - Myanmar authorities have handed over 31,000 telecom fraud suspects to China since law enforcement officers from both countries launched a crackdown on online scams in September, Chinese authorities said on Tuesday. More than 100,000 people engage in telecom fraud each day in at least 1,000 scam centres in Myanmar, which shares a border with southwest China, Chinese state media has reported. The Myanmar ringleader of a gang committed suicide last week while on the run from Myanmar authorities, Chinese police said. With telecom scams in Myanmar targeting Chinese citizens surging, Assistant Foreign Minister Nong Rong visited Myanmar this month, saying China was ready to work with Myanmar on tackling cross-border crime including online gambling. Nong also said China supported Myanmar in maintaining stability on their common border as Myanmar's junta battled insurgents in the area.
Persons: Nong Rong, Nong, Albee Zhang, Ryan Woo Organizations: Ministry of Public Security, Thomson Locations: BEIJING, Myanmar, China
It looks like something straight out of science fiction. Which it is, in a way: it’s the brand new Chengdu Science Fiction Museum in the capital of Sichuan province in Southwest China. The museum was commissioned in 2022 to host this year’s 81st annual World Science Fiction Convention, nicknamed Worldcon. The Science Fiction Museum is part of a larger “Future City” development in the Pidu district, outside of the city. Known as Chengdu Future Science and Technology City, the 4.6-square-kilometer (1.8-square-mile) site will house multiple new universities, laboratories and offices.
Persons: , Paulo Flores, Flores, Sydney Opera House —, Zaha Hadid, Satoshi Ohashi, Ohashi, ” Ohashi, Dave McCarty, ” McCarty Organizations: CNN, Chengdu Science Fiction Museum, Zaha, Architects, Science, Sydney Opera House, Fiction, Chengdu Future Science, Technology City Locations: Sichuan, Southwest China, London, City, Chengdu, Pidu, China, Asia,
[1/3] China's Premier Li Keqiang waves as he arrives for a news conference after the closing ceremony of China's National People's Congress (NPC) at the Great Hall of the People in Beijing, China, March 15, 2017. Li was premier and head of China's cabinet under Xi for a decade until stepping down from all political positions in March. Adam Ni, an independent China political analyst, described Li as "a premier who stood powerless as China took a sharp turn away from reform and opening". A glowing 2014 state media profile of Li, praising him as "a calm and tough wall-breaker", went viral shortly after his death was announced. Li's frequent visits to disaster sites and his easy camaraderie when speaking to ordinary people were also highlighted on Chinese state media.
Persons: Li, Damir Sagolj, Li Keqiang, Xi Jinping, Xi, Deng Xiaoping, Alfred Wu, Lee, Zhu Rongji, Wen Jiabao, Wu, Adam Ni, Jiang Zemin, Deng, Li Yining, Hu Jintao, Cheng Hong, Laurie Chen, Tian, William Mallard Organizations: People's Congress, of, People, REUTERS, Rights, Communist Party, CCTV, Weibo, Australian National University, Lee Kuan Yew, of Public Policy, Peking University, Communist Party's Youth League, Youth League, Shanghai, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Singapore, Social, Anhui, Henan, Liaoning
China... Acquire Licensing Rights Read moreBEIJING, Oct 26 (Reuters) - The youngest-ever crew of Chinese astronauts departed for China's space station on Thursday, paving the way for a new generation of "taikonauts" to advance the country's space ambitions in the future. Leading the six-month mission was former air force pilot Tang Hongbo, 48, who was on the first crewed mission to the space station in 2021. By contrast, his fellow Shenzhou-17 crew members Tang Shengjie, 33, and Jiang Xinlin, 35, both travelling to space for the first time, joined China's third batch of astronauts in September 2020. The Shenzhou-17 astronauts will replace the Shenzhou-16 crew, who arrived at Tiangong at the end of May. Shenzhou-17 marks China's 12th crewed mission since Yang Liwei's solo spaceflight in October 2003, the first Chinese national in space.
Persons: Tang Hongbo, Tang Shengjie, Jiang Xinlin, Tang, Tiangong, Jing Haipeng, Zhu Yangzhu, Gui Haichao, Zhu, Gui, Yang Liwei's, Ryan Woo, Tom Hogue, Gerry Doyle Organizations: taikonauts, People's Liberation Army, NASA, Space, U.S, Thomson Locations: Jiuquan, Gansu province, China, BEIJING, Hong Kong, Macau, Tiangong
By Ryan WooBEIJING (Reuters) -The youngest-ever crew of Chinese astronauts departed for China's space station on Thursday, paving the way for a new generation of "taikonauts" to advance the country's space ambitions in the future. Leading the six-month mission was former air force pilot Tang Hongbo, 48, who was on the first crewed mission to the space station in 2021. Tang, from China's second batch of astronauts in 2010, had to wait more than a decade before he was picked for his inaugural spaceflight in 2021. By contrast, his fellow Shenzhou-17 crew members Tang Shengjie, 33, and Jiang Xinlin, 35, both travelling to space for the first time, joined China's third batch of astronauts in September 2020. China has already kickstarted the selection process for the fourth batch of astronauts, seeking candidates with doctoral degrees in disciplines from biology, physics and chemistry to biomedical engineering and astronomy.
Persons: Ryan Woo BEIJING, Tang Hongbo, Tang, Tang Shengjie, Jiang Xinlin, Ryan Woo, Tom Hogue, Gerry Doyle Organizations: taikonauts, People's Liberation Army Locations: China, Hong Kong, Macau
In 2020, Beijing tried to rein in real estate developers' high reliance on debt with new restrictions on financing. "The decline in the real estate sector was the result of the government's intentional measures to correct the bubbles in the market," Yao said. But he and other economists mostly don't expect real estate to return to significant growth in the future. Morgan StanleyThis week, worries about China's real estate sector persisted with highly indebted Evergrande running into more liquidity problems — along with reports Wednesday its chairman has been put under surveillance. This month, weekly data from Nomura indicate the real estate sales slump has moderated.
Persons: Stringer, Yao Yang, Yao, Dan Wang, Morgan Stanley, Clifford Lau, William Blair, China's, Robin Xing, there's, Bruce Pang, Pang doesn't Organizations: Afp, Getty, National School of Development, Peking University, Hang, China Center for Economic Research, Communist Party, Financial Work, Communist Party of, Nomura, CNBC Locations: Chongqing, China, BEIJING, Covid, Beijing, Shanghai, Hang Seng China, Communist Party of China, JLL
Outbound travel from China is surging ahead of the first "Golden Week" holiday period since the country has allowed international travel to resume and even as China's economic growth has slowed. Golden Week, which begins Oct. 1 this year, marks the annual weeklong period that includes the Mid-Autumn Festival and National Day in China. Trip.com said bookings for travel within China are up by four times compared with last year's Golden Week, with residents opting to travel between different provinces for longer periods of time. Northwest China's autumnal tours and South China's comfortable climate have made those destinations particularly popular, Trip.com said. Golden Week typically spurs hundreds of millions in China to travel.
Persons: Trip.com, Jane Sun, Sun, China — Organizations: International Airport, Beijing Capital International Locations: Shanghai, China, Singapore, Australia, Thailand, Sri Lanka, Uzbekistan, Covid, United Kingdom, South Korea
Apple's hybrid work pilot program is still going two years after it was first proposed. It started after employees pushed back against a plan to bring them back to the office three days per week. "So what we decided to do was run a pilot where people come into the office three days a week. Apple first announced the pilot program Cook spoke of in June 2021 as pandemic restrictions wound down and people came out into the sun squinting their eyes. In mid-2022, Cook told employees that the pilot program wasn't set in stone and expected aspects to be adjusted.
Persons: Tim Cook, Cook, Tayfun, , Marc Benioff Organizations: Service, CBS, Apple, Anadolu Agency, Getty, Employees Locations: Wall, Silicon, Cupertino , California, United States, Chengdu, Southwest China's Sichuan province
In a notice Wednesday, the Xi’an Jiaotong University in the capital city of Shaanxi province said students will no longer need to pass a nationwide standardized English test – nor any other English exams – to be able to graduate with bachelor’s degrees. But in recent years, some universities have downgraded the importance of English, either by replacing the national College English Test with their own exams or – as in the case of the Xi’an Jiaotong University – dropping English qualifications altogether as a graduation criteria. For some liberal-leaning Chinese, the downgrade of English is symbolic of China’s inward turn and a tightening of ideological control. “We need English to understand the world. These days, if you don’t understand English, you’ll still fall behind in the scientific and technological world,” a Weibo user said.
Persons: Xi Jinping, , Mao, Xi, it’s, Weibo, don’t, you’ll Organizations: Hong Kong CNN, Jiaotong University, English, College English, Jiaotong, Weibo, World Trade Organization Locations: China, Hong Kong, Shaanxi, Weibo, Shanghai, Taiwan
Hong Kong CNN —Luckin Coffee has joined forces with Kweichow Moutai, the maker of China’s fiery national liquor baijiu, for an unusual offering: alcoholic lattes. The popular Chinese coffee chain rolled out the so-called “sauce-flavored latte” with a jolt of liquor for 38 yuan ($5.20) on Monday. The “sauce” in the name is an apparent reference to the slightly savory notes of Moutai’s liquor that has been compared by some drinkers to soy sauce. The new drink quickly became a hot topic on Chinese social media, with many users wondering if it was safe to consume on the go. Luckin Coffee has made a comeback with consumers after becoming mired in a fraud scandal that caused its ejection from Wall Street three years ago.
Persons: Kweichow Moutai, , Moutai’s, Gan Organizations: Hong Kong CNN, Weibo, Luckin, Wall Street Locations: Hong Kong, Zunyi, China’s Guizhou, China
Acquire Licensing Rights Read moreHONG KONG, Aug 31 (Reuters) - Chongqing, a sprawling municipality in southwest China, announced this week that insured residents no longer need to provide marriage certificates to get maternity benefits, the most recent move to encourage women to have children. China's fertility rate is estimated to have dropped to a record low of 1.09 in 2022, state media reported. China's fertility rate is already one of the world's lowest alongside South Korea, Taiwan, Hong Kong and Singapore. Young Chinese women cite factors including high childcare costs, career hindrance, gender discrimination and not wanting to get married as key reasons for not having children. Low consumer confidence and growing concerns over the health of China's economy are also key factors cited by young Chinese for not wanting to get married and have children.
Persons: Farah Master, Jacqueline Wong Organizations: South, Singapore ., Thomson Locations: Xujiashan, Haitang, Liangshan Yi Autonomous Prefecture, Sichuan province, China, HONG KONG, Chongqing, China's, Guizhou, Shaanxi, Hunan, Jiangsu, South Korea, Taiwan, Hong Kong, Singapore, Singapore . Young, Beijing
In Guangdong Province, on China’s southern coast, a woman posted a photo of a boxed-up Japanese-brand air-conditioner that she planned to return in protest. In southwest China, the owner of a Japanese pub posted a video of himself ripping down anime posters and smashing bottles, saying he planned to reopen the business as a Chinese bistro. In many social media posts like these, the phrase “nuclear-contaminated wastewater” has appeared — the same wording used by the Chinese government and state media to refer to Japan’s release into the ocean of treated radioactive water from the ruined Fukushima Daiichi nuclear power plant. Even before Japan started pumping out the first tranche of more than a million tons of wastewater last week, China had mounted a coordinated campaign to spread misinformation about the safety of the release, stirring up anger and fear among millions of Chinese.
Locations: Guangdong Province, China, Japan
Gold loiters near 5-month low as traders hunt for more Fed cues
  + stars: | 2023-08-21 | by ( ) www.cnbc.com   time to read: +2 min
A staff member selects a gold bracelet for a customer at a gold shop in Renhuai, Southwest China's Guizhou province, May 11, 2023. Gold held around five-month lows on Monday, pressured by higher bond yields as markets geared up for the Federal Reserve's Jackson Hole symposium for clues on where interest rates might settle. Spot gold was largely flat at $1,887.70 per ounce, while U.S. gold futures added 0.1% to $1,917.70. Gold grazed its lowest since mid-March at $1,883.70 last week, as buoyant economic data raised bets for higher-for-longer U.S. interest rates, reducing demand for the non-yielding commodity. Investors now look to Fed Chair Jerome Powell's speech on Friday, as central bankers from around the world assemble in Jackson Hole for their annual conference.
Persons: Gold, Jackson, Ole Hansen, Saxo, Jerome Powell's, Kelvin Wong Organizations: Federal, Treasury, U.S . Federal Reserve, Trust Locations: Renhuai, Southwest China's Guizhou province, U.S, Jackson, Asia Pacific
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