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☆ Forget Recession, New York City Is Entering a Wild New Gilded Age
▼ + stars: | 2024-04-04 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

In a country roiled by recession worries, those at the top of New York City — for better or worse — couldn't give a single gilded shit. For New York City, a brush with death called for a time of decadence. "New York City's restaurants and bars are experiencing an uneven pandemic recovery nearly four years after COVID-19 struck our city," Andrew Rigie, the executive director of the New York City Hospitality Alliance, said. AdvertisementIf a pandemic can't defeat New York City, a little inflation certainly isn't going to do it. And what that looks like is the affluent in New York City eating caviar, and poorer Americans eating cereal.

Persons: Steve Jobs, it's, Jennifer Saesue, Saesue, Fish Cheeks, Z, bistros, James Murphy, us Carbone, Casas — Cruz, Cipriani, Jean, Georges Vongerichten, Bongo, Andrew Rigie, Corey Mintz, we're, WK Kellogg, Gary Pilnick, Gary Pilnick's Organizations: Grand Prospect Hall, New, New York City, Apple, Mastercard, Chefs, Casas, Soho House, Bangkok Supper, Village, IBA, Hospitality Alliance, Nationwide, National Restaurant Association, Nasdaq, The University of Michigan Consumer, UBS, New York Locations: New York City, New York, Rome, Xinjiang, New, Manhattan, Coqodaq, Las Vegas, York, Bangkok, Hell, TouchBistro, Brooklyn, The Bronx

China’s economy has struggled to recover from severe self-imposed restrictions during the COVID-19 pandemic that it lifted only at the end of 2022. But Xi said that China was again contributing to world economic growth in the double digits percentage-wise. China's economy has been bogged down by a crisis in its property market in which builders are struggling under mountains of debt, and buyers are paying off loans on apartments that may never be completed. Other issues, such as an aging population and high youth unemployment, are prompting China's leaders to lean more heavily on boosting export manufacturing to make up for weak demand at home. “The respective successes of China and the United States create opportunities for each other," Xi was quoted as saying by Xinhua.

Persons: —, Xi Jinping, Xi, ” Xi, Stephen A, Biden, Donald Trump, “, Craig Allen, China's, Antony Blinken, Janet Yellen Organizations: BEIJING, U.S, Communist Party, China's, Xinhua News Agency, Blackstone . Trade, U.S ., China Business Council, Apple, Xinhua Locations: Beijing, China, U.S, United, Washington, San Francisco, Taiwan, Hong Kong, Tibet, Xinjiang, People's Republic, United States

☆ Dasu dam: Chinese workers killed in suicide bomb blast as Pakistan grapples with attacks on Beijing’s interests
▼ + stars: | 2024-03-27 | by ( Sophia Saifi | Nectar Gan | ) edition.cnn.com time to read: +4 min

Pakistani Prime Minister Shehbaz Sharif offered condolences for the death of the Chinese nationals during a visit Tuesday to the Chinese Embassy in Islamabad, where he met with Beijing’s ambassador. The blast Tuesday follows two militant attacks in recent days in southwest Pakistan, where China is investing billions in infrastructure projects. Half a year later, a separatist group attacked a luxury hotel in Gwadar, often used by Chinese nationals working at the port. In August last year, BLA militants opened fire on a Pakistani military convoy in Gwadar as it was escorting a delegation of Chinese nationals to a construction project. Two militants were killed and no harm was caused to any military personnel or civilians, according to the Pakistani military.

Persons: Muhammad Ali Gandapur, Xi, Tuesday’s, Shehbaz Sharif, Ishaq Dar, ”, “ Organizations: Islamabad CNN —, Beijing . Senior, Taliban, Foreign Ministry, Embassy, Beijing’s, Baloch Liberation, Pakistan Economic, Pakistan Stock Exchange Locations: Islamabad, Pakistan, Khyber Pakhtunkhwa, China, Afghanistan, restive, Balochistan, Gwadar, Beijing, Xinjiang, Karachi

☆ China and New Zealand pledge deeper trade and economic cooperation
▼ + stars: | 2024-03-19 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

China and New Zealand are working toward implementing an upgraded version of the free trade agreement between the two countries. Wang met New Zealand Trade Minister Todd McClay during an official visit to New Zealand. New Zealand was the first developed country to sign a bilateral free trade deal with China in 2008. China's door to the world will open even wider, Wang said, pledging to forge closer cooperation with New Zealand in the next decade and emphasizing on the need to safeguard free trade. He will be holding the seventh China-Australia Foreign and Strategic Dialogue with Australian Foreign Minister Penny Wong in his visit to Australia.

Persons: Wang Yi, Wang, Todd McClay, McClay, Winston Peters, China's, Peters, Penny Wong Organizations: Xinhua, New Zealand Trade, New Zealand, Foreign Affairs, Australian Foreign Locations: China, New Zealand, New, Xinjiang, Hong Kong, Tibet, Zealand, South, Sea, Taiwan Strait, Taiwan, Beijing, Philippines, Wang, Australia, Mar

☆ Chinese envoy meets Hamas chief Haniyeh after first visit to Israel since Gaza war began
▼ + stars: | 2024-03-19 | by ( Simone Mccarthy | Wayne Chang | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Chinese diplomat Wang Kejian met Hamas political leader Ismail Haniyeh in Qatar, China’s Foreign Ministry said Tuesday, the first meeting between a Chinese and Hamas official publicly acknowledged by Beijing since the outbreak of the war in Gaza. Wang and Haniyeh “exchanged views on the Gaza conflict and other issues” during their meeting Sunday, according to a brief readout from China’s Foreign Ministry Tuesday. Wang’s visit comes as Beijing aims to step up its profile as a peace broker and has become increasingly vocal in its opposition to the Gaza war. Fighting began on October 7 when Hamas carried out a deadly attack on Israel, killing more than 1,200 people and taking some 250 hostages, according to Israel. During his visit to the West Bank, Wang met with the Palestinian Authority’s foreign minister Riyad al-Maliki, where the Chinese envoy said Beijing is “deeply concerned” about the conflict in Gaza.

Persons: Wang Kejian, Ismail Haniyeh, Wang, Haniyeh “, Haniyeh, Qatar Cao Xiaolin, ”, Cao, Wang’s, Riyad al, “, Zhai Jun, Wang Yi, ” Wang Organizations: Hong Kong CNN, China’s, Hamas, West Bank –, Foreign, “, Security Council, United Nations, International Court of Justice, China’s Foreign Ministry, West Bank, Ministry of Health, Palestinian, Foreign Ministry, Beijing, Palestinian National Authority, Global South, UN, UN Security Council, Washington, Palestine Locations: Hong Kong, Qatar, Beijing, Gaza, Wang, Israel, China, Lebanon, Egypt, Palestinian Territories, Saudi Arabia, Jordan, Indonesia, Global South Beijing, United States, Xinjiang

☆ Nongfu Spring: Bottled water empire of China’s richest man Zhong Shanshan is facing a boycott by nationalists
▼ + stars: | 2024-03-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.

Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, —, “ Zhong Shuzi, ”, “, He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, ”, Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan

☆ China slams ‘unfathomable absurdities’ of US trade controls as it ramps up high-tech drive
▼ + stars: | 2024-03-06 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +4 min

“If it only wants itself to prosper, but denies other countries legitimate development, where is international fairness? Bilateral trade between China and Russia hit a historic $240 billion last year, surpassing a target of $200 billion set by Xi and Russian counterpart Vladimir Putin in 2019 ahead of schedule. While China claims neutrality in the Ukraine conflict it has appeared unwilling to use its significant economic leverage to curb Russia’s aggression and has not condemned the invasion. During the briefing, Wang repeated China’s call for peace talks to avoid an “unthinkable” escalation and deterioration of the conflict. He also reiterated past rhetoric framing China’s relationship with Russia as a responsible one.

Persons: Beijing CNN —, Wang Yi, China ”, ” Wang, Joe Biden, Xi Jinping, Wang, ”, Xi, Vladimir Putin Organizations: Beijing CNN, Washington ., CNN, Sputnik Locations: Beijing, Washington, China, Xinjiang, Ukraine, US, San Francisco, Russia, Russian, Moscow

☆ Shein is considering moving its massive IPO from New York to London amid scrutiny over its supply chains and ties to China
▼ + stars: | 2024-02-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Fast-fashion giant Shein is considering moving its IPO from New York to London. US lawmakers have cited concerns over Shein's supply chain and its ties to the Chinese Communist Party. AdvertisementFast-fashion brand Shein may move its initial public offering, or IPO, from New York to London, Bloomberg reported on Tuesday. It was seeking a valuation of $80 billion to $90 billion, Bloomberg reported at the time. This would put it just behind Porsche's $9.1 billion IPO in 2021, per Bloomberg records.

Persons: —, confidentially, It's, Shein, Marc Rubio Organizations: SEC, Chinese Communist Party, Service, Bloomberg, US Securities and Exchange Commission, Business Locations: New York, London, China, Singapore, Hong Kong, Xinjiang

☆ Magnitude 5.8 earthquake strikes China's Xinjiang region
▼ + stars: | 2024-02-25 | by ( ) www.cnbc.com time to read: 1 min

The Irkeshtam pass, border crossing between Kyrgyzstan and Xinjiang, China. (Photo by: Arterra/Universal Images Group via Getty Images)A 5.8-magnitude struck Akqi County in China's northwestern Xinjiang region at 12:14 p.m. (0414 GMT) on Sunday, the China Earthquake Networks Center (CENC) said. No casualties or collapsed houses had been reported as of 1:00 p.m., Xinhua reported citing local authorities, adding the areas around the epicenter are sparsely populated. The local main grid and power distribution networks are operating as normal, and local train operations have not been affected, Xinhua added. A 7.1-magnitude earthquake shook the Kyrgyzstan-Xinjiang border region on Jan. 23, killing at least three people.

Persons: CENC Organizations: Getty, China Earthquake Networks, Xinhua Locations: Kyrgyzstan, Xinjiang, China, Akqi County, China's

☆ Firms With Deep Roots in China Reconsider Their Xinjiang Ties
▼ + stars: | 2024-02-18 | by ( Keith Bradsher | ) www.nytimes.com time to read: 1 min

Volkswagen Group is reviewing the future of its joint venture in the Xinjiang region of northwestern China and another German industrial giant is starting to sell its stakes there following new international scrutiny of forced labor using predominantly Muslim ethnic groups. Volkswagen said last week that it was in discussions with one of its main joint venture partners in China, the state-owned Shanghai Automotive Industry Corporation, in the wake of allegations of human rights violations at their joint venture in Xinjiang. The companies are examining “the future direction of the J.V.’s business activities in Xinjiang,” VW said, adding that “various scenarios are currently being examined intensively.”BASF of Germany, the world’s largest chemical company, disclosed on Feb. 9 that it began moving late last year to divest its stakes in two manufacturing joint ventures in Xinjiang.

Persons: VW Organizations: Volkswagen, Shanghai Automotive Industry Corporation, BASF Locations: Xinjiang, China, Germany

☆ China's Wang Yi tells Blinken U.S. should lift sanctions on Chinese firms
▼ + stars: | 2024-02-18 | by ( ) www.cnbc.com time to read: +3 min

US Secretary of State Antony Blinken (L) and Chinese Foreign Minister Wang Yi meet at the 60th Munich Security Conference on Feb. 16, 2024. Washington should lift sanctions on Chinese companies and individuals, and that attempts to de-couple from China would only hurt the United States, China's Foreign Minister Wang Yi told U.S. Secretary of State Antony Blinken. The United States should lift the sanctions and not harm China's legitimate development rights, Wang told Blinken on Friday on the sidelines of a Munich security conference, according to a statement from China's foreign ministry. Washington has imposed sanctions on various Chinese companies that it accuses of working with China's military despite denials from the firms. The United States does, however, maintain unofficial relations with the democratically governed island and remains its most important backer and arms supplier.

Persons: Antony Blinken, Wang Yi, Wang, Blinken, Biden, Joe Biden, Xi Jinping Organizations: Foreign, China's, U.S, Economic Cooperation, Treasury Locations: Munich, Washington, China, United States, Xinjiang, U.S, de, Ukraine, Taiwan, Asia, Beijing

☆ UK's Cameron Raises Red Sea, Human Rights Issues With Chinese Counterpart
▼ + stars: | 2024-02-16 | by ( Feb. | At P.M. | ) www.usnews.com time to read: 1 min

(Reuters) - British foreign minister David Cameron met with Chinese Foreign Minister Wang Yi at the Munich Security Conference on Friday, the Foreign Office said in a statement. Cameron told his counterpart that China should use its influence on Iran to pressure the Houthi militants over their actions in the Red Sea, the statement on Saturday said. Cameron also set out Britain's position on human rights issues in Xinjiang and Hong Kong, raised the case of British parliamentarians sanctioned by China, and again called for the release of media tycoon Jimmy Lai. War in Israel and Gaza View All 209 Images(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sandra Maler)Photos You Should See View All 33 Images

Persons: David Cameron, Wang Yi, Cameron, Jimmy Lai, Rishabh, Sandra Maler Organizations: Reuters, Foreign, Munich, China Locations: China, Iran, Red, Xinjiang, Hong Kong, Israel, Gaza, Bengaluru

FRANKFURT, Germany (AP) — German chemical company BASF said Friday that it was speeding up the sale of stakes in two joint ventures in China after its local partner was accused in media reports of human rights abuses. BASF said in a news release that the market for the industrial chemicals made at the production sites in Korla in China's Xinjiang region was under increased competitive pressure and oversupplied. However, it added that recent reports had contained “serious allegations” about activities “inconsistent with BASF's values.”German news media had reported that employees of a BASF partner firm had participated in a state repression campaign aimed at the region's minority Muslim Uighur population. BASF said internal and external audits found no evidence of rights violations and no indication that the employees of the joint ventures — BASF Markor Chemical Manufacturing and Markor Meiou Chemical (Xinjiang) Co — were involved in the alleged violations. Photos You Should See View All 21 ImagesThe company said it remained committed to the China market.

Persons: — Organizations: BASF, BASF Markor Chemical Manufacturing Locations: FRANKFURT, Germany, China, Korla, China's Xinjiang, Xinjiang

☆ U.S. lawmakers accuse five VC firms of investing $3 billion in Chinese companies linked to military activities
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +2 min

Rep. Mike Gallagher, center, chair of the House Select Committee on the Chinese Communist Party, speaks at a news conference following a GOP caucus meeting at the Republican National Committee offices in Washington, D.C., on Feb. 28, 2023. He is joined by fellow Republicans Rep. Elise Stefanik, left, and Majority Whip Steve Scalise. Sequoia Capital China, Qualcomm Ventures and three other venture capital firms plowed at least $3 billion into Chinese tech companies that support Beijing's military and its repression of minorities in Xinjiang, a U.S. congressional report alleged on Thursday. Reuters could not reach the venture capital firms for comment. The White House did not respond to requests for comment.

Persons: Mike Gallagher, Elise Stefanik, Steve Scalise, Biden Organizations: Chinese Communist Party, Republican National Committee, Washington , D.C, Sequoia Capital China, Qualcomm Ventures, Representatives, Republican, GGV, GSR Ventures, Walden International, U.S, Embassy Locations: Washington ,, Sequoia Capital, Xinjiang, U.S, China, People's Republic of China, Washington

☆ Heavy snow, rain threaten travel chaos during China’s Lunar New Year
▼ + stars: | 2024-02-01 | by ( Chris Lau | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Heavy snow and rain is forecast to hit central and eastern China in the coming days, threatening travel plans for hundreds of millions of Chinese workers heading home for the Lunar New Year. However, Xu Jun, chief forecaster from the Central Meteorological Observatory, told CCTV the forecast snowfall won’t be as heavy or widespread as that experienced around the holiday season 16 years ago. “The rain and snow overlap with the peak period of Spring Festival travel. This has posed risks to safe (travel) and brought inconvenience to the transportation,” weather expert Wang Lijuan, from China Meteorological Administration, told CCTV. Xu, from the Central Meteorological Observatory, told CCTV freezing rain could affect many provinces over an area as wide as 43,000 square kilometers (16,600 square miles).

Persons: Xu Jun, Wang Lijuan, Xu Organizations: Hong Kong CNN, Central Meteorological Observatory, Meteorological, Festival, China Meteorological Administration, Central Meteorological Locations: Hong Kong, China, Hebei, Henan, Shandong, Liaoning, Hubei, Zhengzhou, China's, Xinjiang, Anhui, Weibo, Mohe, Heilongjiang

One focus of the talks was fentanyl, the synthetic opioid that is ravaging America, and in particular ingredients for the drug that are made in China. The U.S. wants China to do more to curb the export of chemicals that it says are processed into fentanyl, largely in Mexico, before the final product is smuggled into the United States. But China refused to discuss cooperation unless the U.S. lifted sanctions on the Public Security Ministry's Institute of Forensic Science. The U.S. quietly agreed to lift the sanctions to get cooperation on fentanyl. State Department spokesperson Matthew Miller called it “an appropriate step to take” given what China was willing to do on the trafficking of fentanyl precursors.

Persons: Xi Jinping, Joe Biden, Wang Xiaohong, ”, Jen Daskal, Biden, Nancy Pelosi, Wang Yi, Matthew Miller Organizations: BEIJING, Chinese Public Security, U.S ., U.S, U.S . Centers for Disease Control, ., Biden, Senate, Public Security Ministry's Institute of Forensic Science, The Commerce Department, State Department Locations: U.S, America, China, San Francisco, Taiwan, Mexico, United States, Beijing, China’s Xinjiang, The U.S

☆ Lawmakers want U.S. to probe four Chinese firms involved in Ford battery plant — letter
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: +1 min

Bill Ford, Executive Chairman of Ford Motor Company, announces at a press conference that Ford will be partnering with the world's largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric-vehicle battery plant in Marshall, Michigan, on February 13, 2023 in Romulus, Michigan. The chairs of two U.S. House committees asked the Biden administration to investigate four Chinese companies they say are involved in Ford Motor's planned Michigan battery plant, according to a letter seen Monday by Reuters. The previously unreported letter said the four Chinese companies have direct ties to the Chinese military, Chinese Communist Party, North Korean government and alleged human rights abuses in China's Xinjiang region. The plant has drawn fire from U.S. lawmakers for its use of technology supplied by Chinese battery maker CATL. The Chinese companies were not named in the letter seen by Reuters because the committees reviewed confidential records turned over by Ford and were not allowed to make their identities public.

Persons: Bill Ford, Biden, Ford, Mike Gallagher, Cathy McMorris Rodgers Organizations: Ford Motor Company, Ford, Technology, Reuters, Chinese Communist Party, North, Energy, Commerce, Commerce Department Locations: China, Marshall , Michigan, Romulus , Michigan, Ford Motor's, Michigan, North Korean, China's Xinjiang, U.S

☆ China earthquake: Powerful 7.1 quake strikes Xinjiang region near Kyrgyzstan border
▼ + stars: | 2024-01-23 | by ( Nectar Gan | ) edition.cnn.com time to read: +3 min

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

☆ Exclusive-China Lobbies Countries to Praise Its Rights Record Ahead of UN Review - Diplomats
▼ + stars: | 2024-01-22 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +4 min

Four diplomats told Reuters that China's mission at the United Nations in Geneva had been sending memos to envoys in the build-up to the review of Beijing's record by the U.N. Human Rights Council scheduled for Tuesday. China's mission did not respond directly to a request for comment on the reported lobbying. In a statement, it said Beijing "firmly opposes the politicization of human rights" and "promotes a fairer and more just, equitable and inclusive global human rights governance". China's mission told Reuters its government "attaches high importance to this UPR (Universal Periodic Review) cycle", referring to the U.N. rights council's regular reviews of countries' rights records. China routinely rejects foreign criticism of its human rights record, saying all Chinese are treated equally in accordance with the law and that foreign countries should not interfere.

Persons: Emma Farge GENEVA, China's, Xi Jinping, Raphael Viana David, Emma Farge, Laurie Chen, Andrew Heavens Organizations: Reuters, United Nations, Human Rights, United Arab, UPR, Diplomats, International Service for Human Rights Locations: China, Hong Kong, Xinjiang, Geneva, Beijing, China's Xinjiang, Indonesia, United Arab Emirates, United States, African, Antigua, Barbuda, Tibet, U.N, Germany

☆ Shein and Temu use a loophole to ship millions of packages to the US tax-free. Here's why the tax rule faces increased scrutiny.
▼ + stars: | 2024-01-22 | by ( Madeline Stone | ) www.businessinsider.com time to read: +9 min

The other bill, from Sen. Bill Cassidy and Sen. Tammy Baldwin, would ban de minimis shipments from China. The provision is more likely to change — a prospect that both Shein and Temu have said they support. Jennifer Ortakales Dawkins/InsiderShipping consultancy ShipMatrix estimates that Shein and Temu each ship more than a million packages to the US daily. It added that almost 50% of all de minimis shipments to the US come from China. Related stories"Changes to the exemption could create a paradigm shift for retailers like Temu and Shein," Bank of America analysts wrote in the note.

Persons: minimis, Earl Blumenauer, Russia —, Bill Cassidy, Sen, Tammy Baldwin, Cassidy, Baldwin, Jay Sole, It's, Jennifer Ortakales Dawkins, Shein's, Temu, Shein, Donald Tang, SHEIN, de minimis, they've, Steve Story, Sole, Satish Jindel, ShipMatrix, Jindel Organizations: Business, Customs, Rep, Bank of America, US Chamber of Commerce, Express, UBS, Pinduoduo Holdings, Goods, Shipping, Chinese Communist Party, China . Shipping, Wired, Shein, American Apparel and Footwear Association, Apex Logistics International, Walmart Locations: Xinjiang, China, Russia, Sen, Singapore, Boston, minimis, United States, mstone@insider.com

☆ About 1,000 Tourists Trapped in China's Xinjiang After Avalanches
▼ + stars: | 2024-01-16 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - Around 1,000 tourists remain stranded in a remote holiday village after avalanches hit China's northwestern Xinjiang region with metres-high snow and fickle weather impeding evacuation, state TV reported on Tuesday. Road access to Hemu village, a scenic destination near the borders of Kazakhstan, Russia and Mongolia where the tourists were trapped, has been cut off by avalanches for several days now. The village is situated in Xinjiang's Altay Prefecture where continuous snowfall in some areas has lasted 10 days, it said. Snow brought by the avalanches reach as high as seven metres in some parts and in many, was higher than snow clearing equipment, CCTV said. A military helicopter scheduled to send supplies - such as flour and fuel - to Hemu village was delayed on Tuesday morning, CCTV said.

Persons: Snow, Zhao Jinsheng, Zhao, Liz Lee, Qiaoyi Li, Raju Gopalakrishnan Locations: BEIJING, Xinjiang, Kazakhstan, Russia, Mongolia, Xinjiang's Altay Prefecture, Altay, Hemu

☆ The 'crown jewel' of the Chinese military appears to have a serious corruption problem, but the US can't afford to bet on its missiles all being defective
▼ + stars: | 2024-01-14 | by ( Chris Panella | ) www.businessinsider.com time to read: +11 min

Recent reports point to corruption and readiness problems in the Chinese military, the rocket force in particular. In the aftermath of the report, an ex-PLA official told Radio Free Asia problems like this have long been rampant in the Chinese military. The rocket force shakeups suggest that there are questions over who can be trusted. Xinhua/Cha Chunming via Getty ImagesConcerns about corruption and readiness stand in contrast with the modernization and strengthening of the Chinese military. Is the PLA, particularly the rocket force, the increasingly formidable force the Pentagon described in a military power report last October?

Persons: It's, —, Tom Shugart, Xi Jinping, that's, hotpot, hadn't, bigwig, Xi, Liu Dawei, Shugart, weren't, Lintao Zhang, Li Shangfu, Li Gang, ISW, there's, Andy Wong Organizations: Service, People's Liberation Army, US, Center, New, New American Security, Liberation Army, Getty Images, Bloomberg, PLA, Rocket Force, Radio Free, 14th China International Aviation, Aerospace Exhibition, Getty, Liberation Army Rocket, Business, United, Naval, Army, Air Force, Communist, of, Defense, Chinese Communist Party, Liberation Army's Army Infantry College, Li, Pentagon, U.S . Nimitz, US Army Locations: New American, Taiwan, Hefei, Anhui province, Radio Free Asia, Zhuhai, Guangdong Province, Xinhua, United States, Beijing, China, PLA, Gutian, Jiangxi Province, U.S, Tiananmen, Pamir, Kashgar, China's Xinjiang, Pacific

☆ Executives go missing in China—this time linked to troubled shadow bank Zhongzhi
▼ + stars: | 2023-12-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms. The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Both companies are controlled by Zhongzhi’s investment units, and the missing executives have been connected with the conglomerate for years. The office building of Zhongrong International Trust, a trust company partially owned by Zhongzhi Enterprise Group, in Beijing. Zhongzhi’s trust banking unit has invested about a tenth of its money in real estate.

Persons: Zhongzhi, Ma Hongying, Ma Changshui, Florence Lo, Xie Zhikun, —, ”, Xie, Xi Jinping Organizations: Hong Kong CNN, Gym Education Technology, Shenzhen Stock Exchange, International Trust, Zhongzhi Enterprise Group, Beijing, Business Locations: Hong Kong, Dalian, Xinjiang, Beijing, China’s, China

☆ US lawmakers seek probe of Chinese drone maker Autel Robotics
▼ + stars: | 2023-11-30 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

An Autel Robotics Dragonfish Pro drone, with an 18-mile range, is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 5, 2022. REUTERS/Steve Marcus/File Photo Acquire Licensing RightsWASHINGTON, Nov 30 (Reuters) - A bipartisan group of 11 U.S. House lawmakers on Thursday asked the Biden administration to investigate and potentially sanction Chinese drone maker Autel Robotics, citing national security concerns. The Pentagon said it would respond to the lawmakers' letter. Another signer of the letter, Republican Representative Elise Stefanik, said, "Autel drones made in Communist China present an unacceptable national security risk and should not be allowed to operate in America." Over 50% of drones sold in the United States are made by DJI, and they are the most popular drones in use by public safety agencies, Republican lawmakers said earlier this year.

Persons: Steve Marcus, Biden, Mike Gallagher, Raja Krishnamoorthi, Autel, Elise Stefanik, Gallagher, Krishnamoorthi, David Shepardson, Chris Reese, Mark Porter Organizations: Las Vegas Convention, REUTERS, Rights, House, Republican, Commerce , Defense, Treasury, Autel Robotics, Technology, Robotics, China's People’s Liberation Army, PLA, Pentagon, Commerce, Commerce Department, U.S . Interior Department, Thomson Locations: Las Vegas , Nevada, U.S, House China, Communist China, America, China, Xinjiang, Ukraine, The U.S, United States

The Singapore-based company has not determined the size of the deal or the valuation at IPO. The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods. Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain. Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang. Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.

Persons: Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy Organizations: REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson Locations: Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India

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