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"There is no country, none, that presents a broader, more comprehensive threat to our ideas our innovation our economic security than the Chinese government and the Chinese Communist Party," Wray testified. Wray said that Americans "would be shocked to hear" that virtually all companies doing business in China are required to allow those cells. Wray did not name specific companies who have been required to house CCP cells in China. It's not the first time Wray has raised concerns about Beijing's alleged efforts to enforce communist political views within foreign companies operating in China. "And it doesn't just apply to Chinese companies; it applies to foreign companies if they get to a certain size in China, as well," Wray told CNBC.

Persons: Christopher Wray, SAUL LOEB, Wray, China's, Antony Blinken, Janet Yellen, Lance Gooden, I've, Gooden, It's, Biden, — CNBC's Christina Wilkie Organizations: Federal Bureau of Investigation, AFP, Getty Images, Chinese, Party, Committee, Chinese Communist Party, CCP, FBI, U.S . Chamber of Commerce, Business, Apple, Nike, Street, Fidelity, Financial Times, HSBC, CNBC, Republican Locations: Washington ,, China, Beijing, Washington, Texas, British, BlackRock

☆ China has a new foreign relations law. Here's what it means for business
▼ + stars: | 2023-07-11 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Vcg | Visual China Group | Getty ImagesBEIJING — For foreign businesses in China, geopolitics hold more sway than new Chinese laws, according to analysts. Two new laws, one on espionage and the other on foreign relations, took effect July 1. In strictly legal terms, however, the legislative changes themselves don't increase the risk for foreign businesses in China, said Jeremy Daum, senior fellow at Yale Law School's Paul Tsai China Center. The website's translation of the Foreign Relations Law notes that foreign organizations in China "must not endanger China's national security, harm the societal public interest, or undermine societal public order." A House committee delegation discussed China business in their meeting with executives of high-profile U.S. tech and media companies in California in April.

Persons: Jeremy Daum, Yale Law School's Paul Tsai, Antony Blinken's, Michael House, Perkins, Daum, Mintz, It's, Alex Liang Anjie, Michael Hart, he's, Hart, Janet Yellen, Jens Eskelund, Alex Liang Organizations: Visual China, Getty, Yale Law, Yale Law School's Paul Tsai China Center, U.S, China, Foreign Relations, Mintz Group, Bain, Capvision Partners, Reuters, American Chamber of Commerce, Treasury, Companies, EU Chamber of Commerce Locations: BEIJING, China, Beijing, Washington, U.S, Shanghai, California, Broad

☆ Controversial Chinese scientist He Jiankui proposes new gene editing research
▼ + stars: | 2023-07-03 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +8 min

Authorities in China took multiple steps to tighten rules and ethical standards affecting human gene editing in the wake of the revelations about his previous research. But the scientist’s release of a new proposal involving gene editing of embryos has scientists and medical ethics experts concerned – and confused. Genetic manipulation of human embryos – both viable and nonviable ones – is typically tightly controlled globally and some countries ban all such research, experts say. But there is robust global debate around allowing genome editing of human embryos to treat serious genetic conditions or expanding research. Chinese law does not allow gene-edited human embryos used in research to be implanted into humans, or developed for more than 14 days.

Persons: ”, It’s, Peter Dröge, “, “ I’m, ” Joy Zhang, bioethicists, There’s, He’s, He’s “, Françoise Baylis, ” Baylis Organizations: Hong Kong CNN, Authorities, Nanyang Technological University, Centre for Global Science, University of Kent, CNN, bioethicists, Twitter, China’s Ministry of Science, Technology, National Health Commission, Southern University of Science, China’s biosciences, Dalhousie University Locations: Hong Kong, China, Beijing, Singapore, Britain, USA, Europe, Shenzhen

☆ US warns new Chinese counterespionage law puts companies at risk
▼ + stars: | 2023-06-30 | by ( Michael Martina | ) www.reuters.com time to read: +2 min

WASHINGTON, June 30 (Reuters) - The U.S. on Friday warned about a new Chinese counter-espionage law, saying American and other foreign companies in the country could face penalties from Chinese authorities for regular business activities. Chinese lawmakers this year passed a wide-ranging update to Beijing's anti-espionage legislation that goes into effect on July 1, banning the transfer of any information related to national security and broadening the definition of spying. It said the ambiguities of the law meant that "any documents, data, materials or items" could be deemed relevant to Chinese national security, also putting journalists, academics and researchers at risk. Chinese leader Xi Jinping has emphasized national security since taking office in 2012. U.S. officials have told Reuters that since the enactment of the Chinese law in April they have received a flood of questions from businesses and other groups about the risks of traveling to China.

Persons: Xi Jinping, China Nicholas Burns, Michael Martina, Chizu Organizations: U.S . National Counterintelligence and Security, People's, U.S, China, U.S ., Reuters, The U.S . State Department, Thomson Locations: U.S, China, People's Republic of China, Beijing, Washington, The

☆ New Chinese Law Raises Risks for American Firms in China, U.S. Officials Say
▼ + stars: | 2023-06-30 | by ( Kate O Keeffe | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Ex New York police sergeant convicted of acting as Chinese agent in 'Fox Hunt' trial
▼ + stars: | 2023-06-20 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +3 min

The case was the first of several involving alleged Fox Hunt schemes to reach trial in the United States. Jurors also convicted McMahon on a stalking charge, but found him not guilty of conspiring to act as a foreign agent. THREATENING NOTE ON TARGET'S DOORCo-defendant Zhu Yong, who hired McMahon in 2016 for the job, was convicted on all charges. A third defendant, Zheng Congying was convicted of stalking but found not guilty of acting as a Chinese agent. Reporting by Luc Cohen in New York; Editing by Matthew Lewis and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael McMahon, Xu Jin, Fox Hunt, Attorney Breon, McMahon, Lawrence Lustberg, Prosecutors, Meredith Arfa, Zhu Yong, Kevin Tung, Zheng Congying, Zheng, Renee Wong, Xu, Luc Cohen, Matthew Lewis, Bill Berkrot Organizations: YORK, New York City, U.S, Attorney, FBI, Chinese Communist Party, Thomson Locations: New York, U.S, Brooklyn, surveil New Jersey, China, United States, Washington, Paramus , New Jersey, Wuhan

☆ Former exec at TikTok's parent company says Communist Party members had a 'god credential' that let them access Americans' data
▼ + stars: | 2023-06-07 | by ( Zen Soo | Associated Press | ) www.businessinsider.com time to read: +5 min

Yintao Yu said Communist Party members accessed data on US users as well as protesters in Hong Kong. Hong Kong is a semi-autonomous region in China with its own government. Some American lawmakers have expressed concern that TikTok's ties to ByteDance means the data it holds is subject to Chinese law. It was also available in Hong Kong until TikTok pulled out of the market in 2020 following the imposition of a sweeping national security law. Anyone who tries to open TikTok from within Hong Kong will see a message that reads "We regret to inform you that we have discontinued operating TikTok in Hong Kong."

Persons: Yintao Yu, ByteDance, —, Yu, Charles Jung, Jung, Shou Zi Chew, Chew, TikTok Organizations: Communist Party, ByteDance, San Francisco Superior, British, Hong, Flipagram, Oracle, Chinese Communist Party, Communist Locations: Hong Kong, HONG KONG, U.S, China, Beijing

Economic challenges and geopolitical tensions have made fundraising and investment difficult, and eaten into global venture funds' returns. "It has become increasingly complex to run a decentralized global investment business," Sequoia said in the statement. Sequoia China will retain its current Chinese name and adopt the name HongShan in English, while Sequoia India and Southeast Asia will become Peak XV Partners, the firm said. Sequoia started to invest in local companies in China, India and Southeast Asia more than 15 years ago, according to the statement. Sequoia China, founded and led by former entrepreneur and investment banker Shen, has invested in more than 1,200 companies in sectors ranging from technology to healthcare.

Persons: Sequoia, Roelof Botha, Neil Shen, Shailendra Singh, Shen, Biden, Weiheng Chen, Wilson, Steven Yu, Yu, Trump, we've, Singh, Oyo, Kane Wu, Julie Zhu, Sriram, Roxanne Liu, Krystal Hu, Bernadette Baum, Mark Potter, Paul Simao Organizations: Sequoia Capital, Economic, Investment, Sequoia, XV Partners, HK, PDD Holdings, Reuters, Global Law, China -, Thomson Locations: HONG KONG, China, India, Southeast Asia, COVID, Sequoia China, Sequoia India, Shanghai, U.S, China - U.S, Hong Kong, Mumbai, Beijing, San Francisco

☆ China's tech feud with the US is heating up
▼ + stars: | 2023-05-21 | by ( Joe Mcdonald | Associated Press | ) www.businessinsider.com time to read: +4 min

China is clamping down on the use of computer chips from US tech giant Micron Technologies. China's government claims Micron products have unspecified "serious network security risks." It's the latest development in the United States' tech feud with China. They import more than $300 billion worth of foreign chips every year. Beijing is pouring billions of dollars into trying to accelerate chip development and reduce the need for foreign technology.

☆ China's security crackdown could signal new realities for foreign investors
▼ + stars: | 2023-05-16 | by ( Clement Tan | ) www.cnbc.com time to read: +6 min

Last Monday, state broadcaster CCTV singled out a consulting company for not complying with China's national security laws. "It may seem a paradox," said Chong Ja Ian, an associate professor at the National University of Singapore who studies Chinese foreign policy. So much of what is now regarded as national security or state secrets is not sufficiently defined or classified. This includes passing a data security law in 2021 on the protection of information involving national and economic security and on issues of important public interest. "To have multiple companies involved now in this crackdown and the restriction of financial data to foreigners, it appears that Chinese security departments are on to something larger."

These consultancies thrived by providing investors - from global hedge funds to private equity firms - access to industry experts and investigators who could obtain valuable corporate information. One private credit investor who used to join Capvision's calls with "industry experts" said clients did not want to pay top dollar for easily available public information. Many China-based consultancy firms also outsourced on the ground investigations to local contractors. Even before the latest raids on consultancy firms, some due-diligence firms were warned to stay away from Xinjiang related projects, sometimes by security authorities, according to industry sources. China denies abuses in Xinjiang, a major cotton producer that also supplies much of the world's materials for solar panels.

☆ An explosive new lawsuit claims TikTok's owner built a 'backdoor' the CCP could exploit
▼ + stars: | 2023-05-15 | by ( Dan Whateley | Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

ByteDance allowed a Chinese Communist Party unit to censor content and access data, a new lawsuit alleges. ByteDance built a "backdoor channel" to enable CCP access to US user data, the suit alleges. An explosive new lawsuit claims TikTok owner ByteDance built a "backdoor channel" in its code that allowed Chinese Communist Party members access to user data hosted in the US. Yu is a former engineering lead for ByteDance in the US who worked at the company between 2017 and 2018. The complaint alleges the "Committee continued to have access" to US user data even after ByteDance walled off access for individual engineers in China.

☆ An explosive new lawsuit claims TikTok's owner built a 'backdoor' that allowed the CCP to access US user data
▼ + stars: | 2023-05-12 | by ( Dan Whateley | Ashley Rodriguez | ) www.businessinsider.com time to read: +4 min

☆ LinkedIn layoffs: Company to cut 716 jobs, exit China app InCareer amid 'challenging' economic climate
▼ + stars: | 2023-05-09 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —LinkedIn, the world’s largest social media platform for professionals, is cutting 716 positions and shutting down its jobs app in mainland China, the California-based company announced. Ng Han Guan/APAs part of the move, LinkedIn will phase out InCareer, its app for mainland China, by August 9. LinkedIn is the last major Western social media app still operating in mainland China. Maimai was launched in 2013 and dubbed the Chinese version of LinkedIn. “We’re also facing a significantly more challenging operating environment and greater compliance requirements in China.”

☆ Despite TikTok ban threat, influencers are flocking to a new app from its parent company
▼ + stars: | 2023-05-05 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

However, they denied rumors that ByteDance had paid creators to promote the new app on TikTok. Still, the app lacks some standard social platform features such as messaging and the option to tag other users in posts. Lemon8’s userbase remains a far cry from the 150 million users TikTok says it has in the United States. By launching a new app even with TikTok in the spotlight, “ByteDance clearly doesn’t feel like they’re at risk,” Lewis said. Even if TikTok and Lemon8 were banned, Cruz said, “I already have a following on all the other platforms.”

☆ China weighs giving single women IVF access to stem population decline
▼ + stars: | 2023-04-29 | by ( ) www.cnbc.com time to read: +8 min

Crucially, Chen could access in-vitro fertility (IVF) treatment legally in a private clinic. We have liberalized the policies here and I know a lot of single women are doing IVF." watch nowLiberalizing IVF nationwide could unleash more demand for fertility treatment in what is already the world's biggest market, straining limited fertility services. The NHC's Sichuan branch did not address questions from Reuters about whether it would offer IVF treatment to all women in public hospitals. Shanghai and the southern Guangdong province have also permitted unmarried women to register their children but IVF services for single women remain banned.

☆ China approves wide-ranging expansion of counter-espionage law
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +1 min

In this photo illustration, the People's Republic of China flag logo is displayed on a smartphone screen on 25 July 2022. Chinese lawmakers passed a wide-ranging update to Beijing's anti-espionage legislation on Wednesday, banning the transfer of any information related to national security and broadening the definition of spying. China's top legislative body passed the revised Counter-Espionage Law — its first update since 2014 — following three days of deliberations, and it will take effect from July 1, state media reported. The law does not define what falls under China's national security or interests. It expands the definition of espionage to include cyber attacks against state organs or critical information infrastructure, state news agency Xinhua reported.

Hong Kong CNN —A Taiwan political activist has been formally arrested on suspicion of “secession” in China, more than eight months after he was detained amid heightened tensions across the Taiwan Strait. Taiwan’s Mainland Affairs Council said they had repeatedly reached out to mainland authorities about Yang’s detention but had not received a direct response. In 2019, he became the vice chairman of the Taiwan National Party, a fringe political party advocating Taiwan independence. Handcuffed and escortedCCTV said Yang had long advocated the idea of “Taiwan independence” and founded the Taiwan National Party to push for Taiwan to become an independent, sovereign country and a member state of the United Nations. However, Taiwan’s Mainland Affairs Council reminded Taiwan citizens to evaluate the risks before traveling to mainland China, citing the “repeated occurrence of similar cases recently,” without elaborating on the incidents.

CNN —A young Chinese woman who was arrested after attending a peaceful protest against Covid-19 restrictions in Beijing last year has been released alongside several of her friends after four months in police custody, according to a source familiar with their situation. Cao was released Wednesday evening, according to a source with direct knowledge. Three of her friends who were detained around the same time in December were also released, according to the source, who learned of their situation through mutual friends. Under Chinese law, the two others released alongside Cao would also likely have been formally charged to remain in custody until Wednesday, though CNN has not confirmed their charges. Two others in the group were released on bail in January, CNN confirmed at the time, while two more were released in February, according to the source familiar with the situation of those released this week.

The London Stock Exchange Group (LSEG) (LSEG.L) and UK trade officials visited several cities in China to promote UK capital markets recently. Wilson Xu, a banking veteran from CITIC Securities pioneering the Stock Connect programme, said liquidity will improve when there is a critical mass of Chinese listings. The Shanghai-London Stock Connect was launched in 2019 and the link was expanded last year to include Shenzhen and Switzerland. Even arrangements by SIX to allow roughly 2.5 hours of trading in a session for Chinese GDRs didn't help. Chinese companies, however, have been positive in public disclosures about their forays in Europe which have given them an alternative channel to raise funds and access foreign currency for their operations abroad.

☆ China resorts to extraordinary measures to soothe entrepreneurs amid deep retreat of private business
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —After years of regulatory crackdowns and draconian Covid curbs, private entrepreneurs in China are low on enthusiasm. If anything, the private sector seems to be retreating even more so far this year. State-led investment surged 10.5%, while private investment increased a mere 0.8%. In 2022, state investment rose 10.1%, while private investment ticked up 0.9%. “We always regard private enterprises and private entrepreneurs as people on our own side,” Xi said.

CNN —The US State Department said Thursday it is “disappointed” by a Chinese court’s decision to uphold the death sentence for American citizen Mark Swidan and called for his immediate release. “Today the People’s Republic of China’s Jiangmen Intermediate Court denied wrongfully detained US national Mark Swidan’s appeal, and upheld his death penalty with a two-year suspended death sentence,” State Department principal deputy spokesperson Vedant Patel said in a statement. “We are disappointed by this decision and will continue to press for his immediate release and return to the United States,” Patel said. He was convicted of manufacturing and trafficking drugs in 2019 by the Jiangmen Intermediate People’s Court in southern Guangdong province and given a death sentence with a two-year reprieve. Under Chinese law, the reprieve means Swidan’s sentence may be commuted to life imprisonment after two years, subject to his conduct during this period.

☆ Tim Cook and other tech CEOs to discuss China with US lawmakers
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTim Cook and other tech CEOs to discuss China with US lawmakersCNBC's Deirdre Bosa joins 'TechCheck' to discuss tech CEO's meeting with Chinese lawmakers, and the use of A.I. and cloud to modernize JPMorgan's fraud detection and banking systems.

☆ TikTok's CEO got coached by ex-Obama and Disney advisers for a month before his viral Congress hearing, which saw his followers on the app increase 16,000%
▼ + stars: | 2023-03-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

TikTok hired former Obama and Disney advisers to coach its CEO before his congressional hearing, per WSJ. Shou Zi Chew has seen his follower count on TikTok rise from 18,700 to 3 million in 8 days. Chew was largely unknown before the hearing last Thursday, with just under 19,000 followers on the app, per Reuters. Two days before the hearing, Chew posted an informal introduction on the app – he was dressed in a hoodie and jeans – which has since amassed 4.7 million likes. A spokesperson for the app previously told Insider it believed the bans "have been based on misplaced fears and seemingly driven by wider geopolitics."

☆ CNH Industrial agrees to buy Hemisphere GNSS for $175 mln
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 30 (Reuters) - CNH Industrial (CNHI.MI) said on Thursday that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses. Just before that, in 2021, it bought U.S.-based Raven for $2.1 billion to consolidate its presence in the precision farming segment. "Combined with our Raven Brand's capabilities, this development gives us full control of our precision and navigation technologies," CNH said with reference to the deal announced on Thursday. CNH said Hemisphere's core technology capabilities included application-specific integrated circuit chips, circuit boards, radio frequency signal processing, navigation algorithms and satellite-based correction designs. Hemisphere will continue to operate as a standalone business through its operations in the U.S., Canada and Australia, CNH said.

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