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Top related persons:
Hirokazu Matsuno - 1 Japan’s MOFA - 1 Mao Ning - 1 “ - 1 ” - 1 Weeks - 1 Bain - 1 — CNN’s Michelle Toh - 1
Top related locs:
China Tokyo Beijing MOFA Shanghai Hong Kong
Top related orgs:
Tokyo CNN - 1 Japan’s Ministry of Foreign Affairs - 1 Embassy - 1 NHK - 1 drugmaker - 1 Pharma - 1 CNN - 1 Foreign Ministry - 1

Search resuls for: "— CNN’s Michelle Toh"


4 mentions found


☆ Japanese man detained in March formally arrested in China, reportedly on espionage charge
  + stars: | 2023-10-20 | by ( Emiko Jozuka Junko Ogura | Emiko Jozuka | Junko Ogura | ) edition.cnn.com   time to read: +4 min
Tokyo CNN —China has formally arrested a Japanese man who was detained in March, according to officials from Japan’s Ministry of Foreign Affairs (MOFA) and the Japanese Embassy in Beijing. The arrest of the Japanese national, who was reportedly an employee of a Tokyo-based pharmaceutical firm, could further rattle foreign businesses in China, which have reported feeling more unsettled this year amid a crackdown on international consulting firms on national security grounds. According to Japanese public broadcaster NHK, the man was an employee of drugmaker Astellas Pharma and was detained in March by Chinese security authorities in Beijing on suspicion of violating the country’s criminal law and anti-espionage law. In May, state security authorities said they had raided several offices of Capvision, an advisory network. The issue has been cited as headache for foreign businesses, some of which were already having trouble convincing workers to relocate to China.
Persons: Hirokazu Matsuno, Japan’s MOFA, Mao Ning, “, ”, Weeks, Bain, — CNN’s Michelle Toh, Sophie Jeong, Mengchen Zhang Organizations: Tokyo CNN, Japan’s Ministry of Foreign Affairs, Embassy, NHK, drugmaker, Pharma, CNN, Foreign Ministry, Ministry of State Security, Mintz Group, American Chamber of Commerce, China’s Commerce Ministry, State Administration of Foreign Exchange Locations: China, Tokyo, Beijing, MOFA, Shanghai, Hong Kong
☆ China is waging a war on its financial industry. Some high-profile bankers are ensnared
  + stars: | 2023-04-05 | by ( Laura He | ) edition.cnn.com   time to read: +8 min
Last Friday, authorities opened a similar probe into Liu Liange, former chairman of state-owned Bank of China, the country’s fourth largest lender. And in January, Wang Bin, who headed state-owned China Life Insurance from 2018 to early 2022, was charged by national prosecutors with taking bribes and hiding overseas savings. They include financial giants such as China Investment Corp, the nation’s sovereign wealth fund, China Development Bank, which provides financing for key government projects, and Agricultural Bank of China, another large state-controlled lender. “The current financial crackdown is a new wave of Xi Jinping’s anti-corruption campaign against the financial sector for consolidation of his power,” said Chongyi Feng, an associate professor in China Studies at the University of Technology Sydney. But the deepening crackdown on the vast financial sector could rattle investors.
☆ Crypto: Regulators are cracking down as FTX fallout casts a shadow over digital assets
  + stars: | 2023-02-14 | by ( Allison Morrow | ) edition.cnn.com   time to read: +5 min
New York CNN —When FTX collapsed in November, it was a seismic event for the crypto industry. On Monday, New York regulators ordered blockchain firm Paxos to stop issuing BUSD, aka Binance USD, citing “several unresolved issues” related to Paxos’ oversight of its relationship with crypto exchange Binance. Investors typically buy them to store money and facilitate deals within the cryptocurrency infrastructure, making them a bedrock of the crypto ecosystem. “Regulation by enforcement is puzzling for crypto enthusiasts,” said Marcus Sotiriou, market analyst at digital asset broker GlobalBlock, in a note. In January, regulators warned US banks and other market participants about the risks of fraud, volatility, and shoddy risk management in the crypto world.
☆ Shein tells suppliers to end long working days at factories by end of the month
  + stars: | 2022-12-06 | by ( Juliana Liu | ) edition.cnn.com   time to read: +2 min
In October, the UK’s Channel 4 broadcast a documentary that made allegations of labor exploitation against two of Shein’s factory suppliers in China. In its statement, Shein said audits carried out by independent experts had refuted most of the allegations. But the investigation showed that workers at two of its suppliers were working longer hours than allowed under local rules. Employees at one factory were working a maximum of 13.5 hours per day, with at least two to three days off per month, the statement claimed. At another factory, staff were found to be working 12.5 hours a day with no fixed schedule for days off.
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