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☆ Shein's CEO is so low-profile his employees don't even recognize him: report
▼ + stars: | 2024-06-18 | by ( Meghan Morris | ) www.businessinsider.com time to read: +4 min

Read previewFast-fashion giant Shein is gearing up for its widely-anticipated debut as a public company. But one key figure has stayed out of the spotlight: CEO Xu Yangtian, also known as Sky Xu. Even Xu's own employees don't recognize him in the office, the South China Morning Post reported on Monday. As a public company CEO, he'll be expected to participate in regular updates — UK companies are not required to have quarterly earnings calls, but most do — and interact with investors. Loyalty to China under scrutinySo far, Shein's public face has been executive chairman Donald Tang.

Persons: —, Xu Yangtian, Xu, Chris Xu, Shein, Frances Townsend, Townsend, he'll, Jack Ma, Donald Tang, Bear Stearns, Tang Organizations: Service, TikTok, Business, China Morning Post, Wall, Bloomberg, Shein's, Street, Shein, Milken, Pacific, Financial Locations: Guangzhou, London, China, Shanghai, Beijing

☆ Bulls and bears are locked in a battle for Wall Street
▼ + stars: | 2023-07-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Bulls and bears have always engaged in battle on Wall Street. Before the Bell: Why is there a growing division between bulls and bears? If a rally continues, the bulls will say that the bears missed it. If it moves in the other direction, in a swift fashion, then the bears will say that the bulls were overly optimistic. “I don’t know if it’s going to lead to a soft landing, a mild recession or a hard recession,” Dimon said during the call.

Persons: Liz Young, Bell, Young, we’re, Jamie Dimon, I’ve, Matt Egan, Dimon, JPMorgan Chase, “ tailwinds, ” Dimon, ” Jeremy Barnum, ” Barnum, Coco Chanel ’, Ellie Stevens, Shein, “, Coco Chanel, Yves Saint Laurent, Xu Yangtian, Chris Xu, “ SHEIN, ” Organizations: CNN Business, Bell, New York CNN — Bulls, Big Tech, JPMorgan, CNN, JPMorgan Chase, First Locations: New York, Ukraine, First Republic, California

☆ Shein accused of RICO violations in new lawsuit
▼ + stars: | 2023-07-14 | by ( Ellie Stevens | ) edition.cnn.com time to read: +2 min

CNN —Three graphic designers are suing Chinese fast-fashion giant Shein over what they allege is “egregious” copyright infringement and racketeering. In the lawsuit, which was filed in a California federal court Tuesday, the designers allege Shein produced and sold exact copies of their designs. Rather, there is a mysterious tech genius, Xu Yangtian aka Chris Xu,” the suit claims. According to their “About us” page, Shein says the company only produces 100 to 200 pieces of each model at launch. Those small quantities are intentional, the suit alleges: That way, before making more pieces, Shein can see if anyone complains about a stolen design.

Persons: Shein, “, Coco Chanel, Yves Saint Laurent, Xu Yangtian, Chris Xu, “ SHEIN, ” Krista Perry, Shein.com, shein.com Organizations: CNN, BBC Locations: California

[1/2] A participant applies rainbow coloured facepaint before a 5.17 km run to mark International Day Against Homophobia in a park in Beijing, China, May 17, 2018. Thirteen diplomats from nine Western and Asian delegations said that the challenges they face when arranging events about gender equality and LGBT issues, or broader cultural activities, showed how China's red lines have shifted. Some recent Chinese actions around foreign missions drew widespread attention, including a warning from authorities aimed at embassies displaying Ukraine flags. Three diplomats told Reuters the incident had made them more careful about meeting with civil society figures. "A case could be made that the intentional disruption of embassy activities violates one or the other of these provisions, if not both," he said.

Persons: Thomas Peter, Xi, Guy Saint, Jacques, Peter Stano, Yaqiu Wang, Wang, Yu Wensheng, Xu Yan, Joseph Klingler, Foley Hoag, Laurie Chen, Yew Lun Tian, Brenda Goh, Engen Tham, David Crawshaw Organizations: REUTERS, Reuters, China's Foreign Ministry, Vienna Convention, Diplomatic Relations, of Public Security, Europe, UNESCO, United Nations, Coordinator's, Beijing LGBT Center, Human Rights Watch, Police, European Union, EU, Thomson Locations: Beijing, China, BEIJING, SHANGHAI, Canada, Vienna, Ukraine, Western, Joseph Klingler , Washington, Shanghai

☆ Inside China's spy war on American corporations
▼ + stars: | 2023-06-21 | by ( Eamon Javers | ) www.cnbc.com time to read: +6 min

Top intelligence and law enforcement officials in Washington are issuing a stark warning to American companies: The Chinese government wants to replace you. Asked whether the Chinese government wants to compete with or eliminate American companies, FBI Director Christopher Wray told CNBC: "Well, their definition of competing, I think, involves embracing the idea of eliminating." The paid-in foreign investment reached 127.69 billion yuan, up 14.5% year on year. Foreign companies including US investors have been upbeat about the China market and plan to expand in China. Former GE engineer David Zheng and GE Aerospace also declined to comment.

Persons: Christopher Wray, Sen, Marco Rubio, Rubio, Mark Warner, …, Warner, Xu Yanjun, Xu, James Olson, Xu Yanjun's, David Zheng, – CNBC's Katherine Liu, Bria Cousins, Laura Measher, Wally Griffith Organizations: CNBC, American, Democrat, World Trade, Ministry of State Security, GE, Boeing, Honeywell, GE Aviation, FBI, CIA, American Chamber of Commerce, Business Environment, US Department of Commerce, GE Aerospace Locations: Washington, America, U.S, China, Nanjing, Cincinnati, South China, reinvest

"The EU requested to the Chinese authorities their immediate and unconditional release," the spokesperson said. "China's ongoing crackdown on human rights activists and lawyers is a well-known EU concern, which we raise at all levels." Yu Wensheng, 55, is a human rights lawyer who last year completed a four-year prison sentence for "subversion of state power". He was among more than 300 rights lawyers and activists arrested in a 2015 crackdown. The EU delegation in Beijing said on Friday three other human rights lawyers, Wang Quanzhang, Wang Yu and Bao Longjun, had been placed under house arrest.

☆ Chinese engineer sentenced to 8 years in U.S. prison for spying
▼ + stars: | 2023-01-26 | by ( Chantal Da Silva | Chantal Da Silva Is A Breaking News Editor For Nbc News Digital Based In London. | ) www.nbcnews.com time to read: +3 min

A former Chicago graduate student in electrical engineering was sentenced Wednesday to eight years in prison for spying for the Chinese government. Ji Chaoqun, 31, a Chinese national, was convicted last year of acting as an agent of China's Ministry of State Security and making a material false statement to the U.S. Army. Chinese engineer Ji Chaoqun. During the meetings, he said he could use his military identification to visit and take photos of "Roosevelt-class" aircraft carriers, the Justice Department said. The Chinese foreign ministry did not immediately respond to a request for comment.

WASHINGTON, Nov 16 (Reuters) - A U.S. federal court in Cincinnati sentenced a Chinese national to 20 years in prison on Wednesday after he was convicted last year of plotting to steal trade secrets from several U.S. aviation and aerospace companies, the Justice Department said. Xu Yanjun, the first Chinese spy extradited to the United States for trial, was convicted in Nov. 2021 by a federal jury on counts of conspiring and attempting to commit economic espionage and trade secret theft. Xu, 42, accused of being a career intelligence officer for China's Ministry of State Security, was detained in Belgium in 2018 after a probe by the Federal Bureau of Investigation. U.S. officials say the Chinese government poses the biggest long-term threat to U.S. economic and national security, and is carrying out unprecedented efforts to steal critical technology from U.S. businesses and researchers. FBI Director Christopher Wray has said his agency opens a new counterintelligence case related to China about twice a day.

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