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☆ DOJ launches cyber unit with national security focus as China, Russia threats mount
▼ + stars: | 2023-06-20 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

The U.S. Department of Justice announced Tuesday a new unit within its National Security Division focused on pursuing cyber threats from nation-state and state-backed hackers, formalizing an increasingly significant part of the national security apparatus into the Justice Department's hierarchy. In a statement, Assistant Attorney General Matt Olsen said the new unit would allow the DOJ's national security team "to increase the scale and speed of disruption campaigns and prosecutions of nation-state threat actors, state-sponsored cybercriminals, associated money launderers, and other cyber-enabled threats to national security." National security officials outside the DOJ have also emphasized China as a top cybersecurity concern, including the U.S.' top cybersecurity official. The announcement made no mention of Chinese cyber efforts, which CISA Director Jen Easterly described last week as an "epoch-defining threat." Building cases against those groups can take years, and don't always result in an arrest, given the far-flung nature of the hacking groups.

Persons: Sue Gordon, Matt Olsen, Jen, Olsen Organizations: National Intelligence, National Counterterrorism Center, CNBC, U.S . Department of Justice, National Security Division, Justice, DOJ, U.S, Navy Locations: San Francisco, China, North Korea

☆ China completes landmark national real estate registration system
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 25 (Reuters) - China has finished building a national and unified system for real estate registration, the official Xinhua news agency reported on Tuesday, in a landmark move that will boost transparency in ownership. In 2014, China issued rules requiring real estate owners to register their holdings with authorities but faced heavy resistance from local governments unwilling to open up their books. China has completed the system after 10 years of hard work, Xinhua reported, citing Minister of Natural Resources Wang Guanghua at a work conference. More than 790 million real estate registration certificates have been issued nationwide over the past decade, according to state television. A unified real estate registration system with a national database of information on ownership would also pave the way for China to implement a property tax in the future.

☆ China has U-turned on almost all major policies it put in place in the last 3 years — and it's not surprising, given the state of its economy
▼ + stars: | 2023-02-16 | by ( Huileng Tan | ) www.businessinsider.com time to read: +10 min

But the country reversed some major policies in response to the abysmal GDP growth. China's GDP grew by 3% in 2022 — the worst since the chaotic Cultural Revolution ended. Most recently, after three years of pandemic lockdowns and isolation, China abruptly reversed course and abolished its zero-COVID policy — leaving the world guessing why. China's GDP grew only 3.0% in 2022 — the worst in nearly half a century since the chaotic Cultural Revolution ended. China's GDP growth is vital because it is the world's second-largest economy after the US, so it's a driving force for global investment and trade.

☆ 'The worst is over': Tech investors are bullish on investing in China again
▼ + stars: | 2023-02-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

Liu Ranyang | China News Service | Getty ImagesTech investors say the worst is over as China reopens and exits its zero-Covid policy. The firm raised nearly $500 million for a new China tech fund set to close by early this year — more than earlier plans for $400 million. Tech companies see government supportInvestors are not worried of new challenges on the regulatory front. Gobi's Tang said, "I do think that they're going to do everything they can to try to spur the economic growth. "There's still a lot to catch up [in semiconductor tech] for China.

☆ Exclusive: China eyes help for shell-shocked consumers but big stimulus unlikely-sources
▼ + stars: | 2023-02-03 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

That has raised expectations that hefty household stimulus measures could be announced at a parliament meeting in March. Prominent academics have felt emboldened to speak publicly about sizeable demand-side measures such as 1 trillion yuan ($148.28 billion) or more in consumption vouchers. Some analysts say pent-up demand during the pandemic may be enough for consumption to grow with little policy support. Household savings jumped 7.9 trillion yuan last year to 17.8 trillion yuan. Several Chinese cities have already offered about 5 billion yuan in consumption vouchers and subsidies in total since December.

☆ Now is the best time to plan out your PTO for the rest of the year
▼ + stars: | 2023-01-13 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

U.S. workplaces are among the worst for offering the least amount of paid vacation days, and even employees who do have access to PTO are pretty terrible at taking all the time they're given. Plan ahead for big eventsFirst, you'll want to take stock of how many days you actually have. Do you have different buckets to pull from, like vacation days versus personal days, or do you have one PTO bank to account for? Once you have that baseline, think about the big events throughout the year you know you'll want time off for. Then do the same for any big family events, school breaks, graduations, celebrations and other gatherings on your radar.

☆ Alibaba, other China ADRs surge as Ant Group capital plan approval fuels hope for relaxing scrutiny
▼ + stars: | 2023-01-04 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Alibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. Chinese tech stocks that trade in the U.S. jumped Wednesday morning after Chinese officials approved an expanded capital plan from Ant Group. U.S.-listed shares of Alibaba jumped more than 6% in premarket trading after the news, as did stock of JD.com . The moves come as investors are seeing signs of a more relaxed Chinese regulatory environment. Correction: Chinese tech stocks that trade in the U.S. jumped Wednesday morning.

Industrial profits fell 3.6% in January-November from a year earlier to 7.7 trillion yuan ($1.11 trillion), according to data released by the National Bureau of Statistics (NBS) on Tuesday. Industrial profits could fall further in December with many cities facing a surge in COVID infections, said Hao Zhou, chief economist at GTJAI. For January-November, profits at private-sector firms shrank 7.9%, a slight improvement from the 8.1% fall in the first 10 months. China's economic growth was just 3% in the first three quarters of this year and is expected to stay around that rate for the full year, one of its worst years in almost half a century. Industrial profit data covers large firms with annual revenues above 20 million yuan from their main operations.

☆ China Jan-Nov industrial profit data shows deepening slump
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

Industrial profits fell 3.6% in January-November from a year earlier to 7.7 trillion yuan ($1.11 trillion), according to data released by the National Bureau of Statistics (NBS) on Tuesday. Business confidence in China has fallen to its lowest level since January 2013, a survey showed last week, reflecting the impact of surging COVID cases on economic activity. At this year's closed-door Central Economic Work Conference, top leaders and policymakers pledged to step up policy adjustments to support the slowing economy. Industrial profit data covers large firms with annual revenues above 20 million yuan from their main operations. ($1 = 6.9601 Chinese yuan renminbi)Reporting by Joe Cash and Ellen Zhang; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

☆ China must raise self-reliance in agricultural technology, Xi says
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 25 (Reuters) - President Xi Jinping wants China to accelerate efforts to achieve self-reliance in agricultural technology, identifying seed development and core equipment among areas to focus on, state media reported. "It is necessary to keep an eye on the frontiers of the world's agricultural science and technology," the official Xinhua news agency quoted Xi as saying at the central rural work conference held in Beijing over Friday and Saturday. The President urged China's agricultural sector to "vigourously improve" its science and technology, with more efficient innovation. Xi urged the sector to address issues with innovation, such as the rate of conversion into commercial applications and a lack of cooperation between research teams. Reporting by Dominique Patton, Roxanne Liu and Bernard Orr Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

Now, as the country rapidly relaxes restrictions, millions of people have been told to keep going to work — even if they’re infected. For three years, its stringent approach has kept Covid cases and deaths relatively low in the country. Covid control workers walk by a closed shop near a community with residents under health monitoring for Covid on December 4 in Beijing. Top leaders at the Central Economic Work Conference, a key annual meeting that ended Friday, said in a statement that stabilizing economic growth was the top priority for 2023. Officials nationwide had worked frantically to contain Covid cases ahead of the highly sensitive twice-a-decade leadership reshuffle, which saw Chinese leader Xi Jinping emerge more powerful than ever into his third term.

HONG KONG, Dec 21 (Reuters Breakingviews) - China has become a headache for Western executives. The good news is that the dilemma need not require drastic action from U.S. and European chief executives, since local Chinese partners could solve the problem by relocating themselves. Foreign executives have had a hard time dealing with China’s zero-Covid policy, rising labour costs and U.S. tariffs. On the other hand, existing economic interests plus Beijing’s renewed push to attract foreign investment both argue for staying put. But if Chinese suppliers now start boosting foreign investment to keep hold of key customers, the government may have little choice but to give its blessing.

☆ China holds benchmark lending rates for 4th consecutive month
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Dec 20 (Reuters) - China kept benchmark lending interest rates unchanged for the fourth consecutive month on Tuesday, matching the forecasts of most market watchers who nevertheless expect further monetary easing to prop up a slowing economy. The one-year loan prime rate (LPR) was left at 3.65%, while the five-year LPR was held at 4.30%. Market watchers regard MLF announcements as guides to any LPR changes. Xing Zhaopeng, senior China strategist at ANZ, said with rates unchanged, household spending would continue without any increase in disposable income. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages.

☆ China steps up support for private sector to boost Covid-hit economy
▼ + stars: | 2022-12-19 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Beijing has vowed to go all out next year to save its Covid-hit economy by boosting consumption and loosening control over private industry, including the struggling tech and property sectors. Covid infections are surging in China after leaders unexpectedly eased its restrictive Covid policy earlier this month. Stabilizing economic growth is the top priority for 2023, according to an official readout following the conclusion of the Central Economic Work Conference (CEWC), a key annual meeting of top leaders, which ended Friday. “We need to encourage and support the private sector economy and private enterprise in terms of policy and public opinion,” the statement said. A shopping mall is decorated with rabbit stickers to welcome the Lunar New Year, the Year of the Rabbit, on December 10, 2022 in Beijing, China.

☆ China to maintain ample liquidity in 2023 to implement proactive fiscal policy - state media
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +1 min

SHANGHAI, Dec 17 (Reuters) - China will maintain reasonably ample liquidity in financial markets while better serving needs from the real economy next year, state media quoted a vice governor of the People's Bank of China (PBOC) as saying on Saturday. Monetary policy in 2023 will ensure sufficient amount of liquidity and the structure will be accurate to aid key sectors, PBOC Deputy Governor Liu Guoqiang said. "Funding cost will remain reasonably flexible, with little ups and downs," Liu was quoted by state broadcaster CCTV as saying. At the same forum, Vice Finance Minister Xu Hongcai said China will also implement a proactive fiscal policy next year, setting a reasonable deficit ratio and the size of local government special bonds. China will "appropriately expand the areas where special government bond funds can be invested and used as capital," CCTV reported Xu as saying.

☆ China Shows More Pragmatism—And Less Ideology—on Economy
▼ + stars: | 2022-12-16 | by ( James T. Areddy | Keith Zhai | ) www.wsj.com time to read: 1 min

Confronting a struggling economy, Chinese leader Xi Jinping is loosening policies that have sacrificed growth at the expense of his relentless focus on centralized control, political purity and national security. The latest sign: Senior leaders huddling in Beijing for the Communist Party’s Central Economic Work Conference on Friday endorsed a more pro-business approach, saying China would “encourage and support the development and growth of the private economy and private enterprises.”

[1/4] People wait in line at a coronavirus disease (COVID-19) test centre in Xinyang, China, this still image obtained from social media video released December 15, 2022. China reported 2,157 new symptomatic COVID-19 infections for Dec. 15 compared with 2,000 a day. There is particular concern about China's hinterland in the run up to China's Lunar New Year holiday starting on Jan. 22. The COVID scare in China also led people in Hong Kong, Macau and in some neighbourhoods in Australia to go in search for fever medicines and test kits for family and friends on the mainland. JP Morgan on Friday revised down its expectations for China's 2022 growth to 2.8%, which is well below China's official target of 5.5% and would mark one of China's worst performances in almost half a century.

It marked the slowest growth since May when Shanghai was under lockdown, partly due to disruptions in key manufacturing hubs Guangzhou and Zhengzhou. Retail sales fell 5.9% amid broad-based weakness in the services sector, also the biggest contraction since May. "The weak activity data suggest that the policy needs to be eased further to revive the growth momentum," said Hao Zhou, chief economist at GTJAI. "The increased size of the MLF rollover this morning is in line with the overall easing policy tones. That would hit businesses and consumers, while a weakening global economy hurts Chinese exports.

[1/2] People line up next to a medical worker in a protective suit, at a fever clinic of a hospital amid the coronavirus disease (COVID-19) outbreak in Beijing, China December 15, 2022. The pivot away from President Xi Jinping's signature "zero-COVID" policy followed unprecedented widespread protests against it. But, WHO emergencies director Mike Ryan said COVID-19 infections were exploding in China well before the government's decision to phase out its stringent regime. There are increasing signs of chaos during China's exit from the zero-COVID policy - with long queues outside fever clinics, runs on medicines, and panic buying across the country. China Meheco Group Co Ltd (600056.SS) said on Wednesday it signed a deal to import the U.S. drugmaker's treatment.

☆ China to optimise epidemic prevention and control next year -state media
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 7 (Reuters) - China should optimise epidemic prevention and control measures next year as it seeks to better coordinate epidemic policies with economic and social development, state media reported on Wednesday, after a high-level meeting of the Communist Party. The world's second-largest economy suffered a broad slowdown in October and the recent spike in COVID cases has deepened concerns about growth in the last quarter of 2022. "For next year, China will seek progress while maintaining stability," Xinhua cited the meeting as saying, adding that "it will hold the bottom-line of preventing systemic risks." China will continue to implement active fiscal policy and prudent monetary policy next year, it said. China's economy grew just 3% in the first three-quarters of this year, well below the annual target of around 5.5%.

☆ The industries with the most—and least—salary transparency
▼ + stars: | 2022-12-07 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

As the trend toward pay transparency continues, companies across the nation are starting to include salary ranges in their job postings – but there are some industries and organizations that lead the pack. According to recent research from Adzuna, a job search engine, the best industries for pay transparency are charitable jobs and trade/construction jobs. Adzuna also found the worst industries for salary transparency – only 1% of job postings in the travel industry include pay ranges, and retail jobs ate the least transparent at 0.5%. Paul Lewis, chief marketing officer at Adzuna, says that the fallout from trends like the Great Resignation prompted these industries to increase salary transparency as a means to attract more workers. Based on Adzuna's findings, these are the 5 best companies for salary transparency as of November 2022:1.

☆ Analysis: China c.bank to offer limited, targeted growth support, no bazooka
▼ + stars: | 2022-12-01 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

Since 2020, when the world's second-largest economy was first jolted by the coronavirus, the PBOC has expanded its arsenal of structural policy tools, including relending and rediscount facilities and other low-cost loans. "The central bank is likely to expand the scope of structural policy tools and step up the use of such tools," said a person involved in policy discussions who spoke on condition of anonymity. Its outstanding loans made via structural tools amounted to nearly 5.6 trillion yuan ($781.64 billion) at the end of September, central bank data showed. A central bank adviser said last month that China should set a growth target no lower than 5% for next year. On Nov. 21, the central bank kept its benchmark lending rates unchanged for a third straight month.

☆ Chinese stocks roar in a comeback, but here’s why big investors remain cautious
▼ + stars: | 2022-11-17 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

A stunning reversal in Chinese stocks in November has investors once again reassessing whether now is the time to double down on this once-hot market. "Biden's comments that he did not see an imminent threat to Taiwan from China were also noteworthy...," said Chang to CNBC. Investors CNBC spoke to remain encouraged by the country's much-needed reopening but want more evidence to suggest Beijing is easing its zero-Covid policy. The latest third-quarter 13F filings ending Sept. 30 also show several reputable hedge funds reducing their exposure to Chinese tech stocks. These positions may have changed since the end of September, but the data does suggest buy-side investors remain cautious on owning Chinese tech.

☆ Do these 3 things to make the most of your next work conference, career experts say
▼ + stars: | 2022-11-14 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The majority of work conferences have taken place virtually during the last two years. "The future of work will be hybrid," Laysha Ward, executive vice president and chief external engagement officer at Target, told CNBC Make It's Jennifer Liu. Whether your next conference is in person, online or both, there are some things you can do to ensure you make the most of the opportunity. CNBC Make It spoke with Dr. Kortni Alston, a workplace wellness coach and happiness scholar, and Patrice Williams Lindo, CEO of Career Nomad, a career consulting firm, to find their best tips for navigating work conferences. Having digital work samples and business cards are also a great way to make your time with someone memorable.

China's strategy aims to win over "swing" countries to score United Nations votes, the diplomat said on Tuesday. Washington said it had taken note of the congress and stressed the importance of keeping open lines of communication. Like many up-and-comers, he is a former subordinate from Xi's days as party chief of the eastern province of Zhejiang. Other pro-reform policymakers excluded from the party's new central committee were outgoing economic czar Liu He, 70, and central bank party chief Guo Shuqing, 66. Also among the newcomers is Ding Xuexiang, who was Xi's chief of staff and named to the new Standing Committee.

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