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☆ In Beijing, Xi and Putin left no question of their close alignment in a divided world
▼ + stars: | 2024-05-17 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +7 min

Putin’s two-day state visit comes as Western leaders have leant on Xi to ensure that soaring exports from his country aren’t propping up the Russian war effort – a claim Beijing denies. Putin also traveled to Beijing with top security officials who the Russian president said Thursday would join informal talks on Ukraine. Beijing, which says it is neutral on the war, has repeatedly defended its trade with Russia as part of normal bilateral relations. Xi, analysts say, is seeking to keep Putin as a close partner, while not stepping over Western red lines. For that reason, she added, “he’s okay with on-going dependency between Russia and China – and with inequality in this relationship.”

Persons: Xi Jinping, Vladimir Putin’s, Xi, Putin, Putin’s, Andrey Belousov, Sergey Shoigu, “ Putin, he’s, Kurt Volker, “, ”, Alexandra Prokopenko Organizations: Hong Kong CNN, United, –, Israel, Hamas, Russian, Russian Security, Chinese Communist Party, Chinese Foreign Ministry, Observers, CNN, Carnegie Russia Eurasia Center Locations: Hong Kong, Beijing, United States, Taiwan, Gaza, Russian, China, ”, Russia, North Korea, Ukraine, China’s Harbin, Siberia, Europe

☆ Shares of Cartier owner Richemont climb 6% on record full-year sales, new CEO
▼ + stars: | 2024-05-17 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Shoppers line up to enter a Cartier store, a unit of Cie. Financiere Richemont SA, on Canton Road in the Tsim Sha Tsui area of Hong Kong. Shares of Swiss luxury group Richemont climbed as much as 6.3% Friday after the company reported record full-year sales, even as Asia-Pacific spending waned. The Cartier owner said group sales rose 3% at actual exchange rates to an all-time high of 20.6 billion euros ($22.38 billion) in the financial year ending in March, despite a weakening outlook for luxury brands. Fiscal fourth-quarter sales fell 1% to 4.8 billion euros at actual rates, driven by a slowdown in Asia-Pacific. In a separate statement, the company announced Nicolas Bos, CEO of Van Cleef & Arpels, as its new group CEO, effective June 1.

Persons: Financiere, Cartier, Johann Rupert, Nicolas Bos, Van Cleef Organizations: Cartier, Cie, Financiere Richemont SA Locations: Canton, Tsui, Hong Kong, Asia, Pacific, London, Asia Pacific

☆ Chinese auto giant Xpeng wants to deliver flying cars by 2026
▼ + stars: | 2024-05-17 | 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 EmailChinese auto giant Xpeng wants to deliver flying cars by 2026Brian Gu, vice chair of Xpeng, discusses the EV market — and the future of flying cars — with CNBC's Emily Tan in Hong Kong.

Persons: Brian Gu, Emily Tan Locations: Hong Kong

☆ Housing market: China unveils sweeping measures to rescue its crisis-hit property sector
▼ + stars: | 2024-05-17 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China has unveiled wide-ranging measures to rescue its property sector, including asking local governments across the country to buy unsold homes from beleagured developers and easing rules on purchases. In a coordinated move, the People’s China of China (PBOC) announced that it will set up a nationwide program to provide 300 billion yuan ($41.5 billion) in loans to fund state purchases of unsold homes. The 300 billion yuan provided by the central bank could eventually underpin 500 billion yuan ($69 billion) worth of credit to support such purchases, she estimated. Expectations that Beijing was preparing a plan to have local governments across the country buy millions of unsold homes have successfully buoyed China stocks. On Friday, He also urged local governments to buy back or directly purchase land that has been sold to developers but not yet used.

Persons: Lifeng, Tao Ling, Larry Hu, ”, Société Générale Organizations: Hong Kong CNN, Communist, China Real Estate Business, Macquarie Group, Reuters, provident Locations: China, Hong Kong, Beijing

☆ BofA names 'Asia's most important stocks' — and analysts give one over 40% upside
▼ + stars: | 2024-05-17 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

BofA Securities has screened for 20 of Asia's "most important stocks," selected from the constituents of the MSCI Asia Pacific Index. Here are 10 stocks from the investment bank's list, which stand out for having substantial upside potential, according to FactSet's consensus price targets. This gives the stock upside potential of 42.0%. Analysts' target price on the stock is 103,211 Korean won ($76.61), or 32.0% potential upside, according to FactSet data. Their average target price is 233,378 Korean won, implying nearly 20.9% upside potential, FactSet data shows.

Persons: — CNBC's Michael Bloom Organizations: BofA Securities, MSCI, AIA Group, Hong, Samsung Electronics, SK Hynix, Korean Locations: Hong Kong, Korean

☆ Why a Tactic Used by Czars Is Back With a Vengeance
▼ + stars: | 2024-05-17 | by ( Amanda Taub | ) www.nytimes.com time to read: +1 min

The day before, the police charged three men with aiding the Hong Kong intelligence service and forcing entry into a residential address. I’m not going to speculate on whether the three men are guilty or innocent, as their court case is ongoing. But the arrests have drawn attention to the phenomenon of “transnational repression,” in which autocratic governments surveil, harass or even attack their own citizens abroad. Last month, following a string of attacks on Iranian journalists, Reporters Without Borders proclaimed London a “hot spot” for the phenomenon. Although transnational repression is an old practice, it appears to be gaining prevalence.

Persons: ”, Hong Kong’s, I’m Organizations: Hong, Foreign, U.K, Borders Locations: London, Hong Kong, China, Britain

☆ A Forest Retreat in ‘Tokyo’s Backyard’
▼ + stars: | 2024-05-17 | by ( Kurt Soller | Josh Robenstone | ) www.nytimes.com time to read: 1 min

Although the two had regularly worked in the country (their firm is currently renovating Tokyo’s Ritz-Carlton), neither of them ever imagined they’d settle permanently in Japan. Over the course of three years, however, they moved out of their Hong Kong apartment, sold their home in Taipei, Taiwan, and bought the last available piece of land next to their existing Japanese property, just over an acre crowded with cherry, pine and larch trees that flash gold, green or gray depending on the season. The pair had considered other Japanese locales where they could one day retire — snowy Niseko; Hakone, by the sea — yet it was ultimately in Karuizawa, Ng says, that they wanted to prove, after years of championing glamour and shine, that they could make someplace “supertranquil” for themselves.

Persons: Ng Organizations: Ritz, Carlton Locations: Japan, Hong Kong, Taipei, Taiwan, Hakone, Karuizawa

☆ An engineering giant behind Apple's HQ and the Sydney Opera House lost $25 million when scammers tricked an employee with a deepfake of a senior exec
▼ + stars: | 2024-05-17 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +1 min

Scammers used deepfakes to trick an employee at engineering firm Arup into handing over $25 million. The Hong Kong office employee believed that they were on a video call with the company's CFO. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementScammers used deepfakes to trick an employee in the Hong Kong office of a major international corporation earlier this year, costing the firm $25 million.

Persons: Scammers, Arup, — Organizations: Service, Financial Times, Sydney Opera House, Business Locations: Hong Kong, California

☆ Singapore Airlines: This airline is paying staff a bonus of 8 months’ salary
▼ + stars: | 2024-05-17 | by ( Heather Chen | Diksha Madhok | ) edition.cnn.com time to read: +1 min

Hong Kong/New Delhi CNN —Singapore Airlines is setting the bar high when it comes to bonus payouts. Singapore Airlines did not respond to a request for comment. The Singapore flag carrier was named the world’s best airline last year, according to the prestigious Skytrax World Airline Awards. Dubai’s Emirates will pay its staff a bonus equivalent to 20 weeks’ salary, Reuters reported this week, citing an internal email. However, the coming year could be difficult for the sector, Singapore Airlines said in its earnings statement.

Persons: Choon Phong Organizations: Hong Kong / New Delhi CNN — Singapore Airlines, CNN, Singapore Airlines, SIA, Emirates, Reuters Locations: Hong Kong / New Delhi, North Asia, China, Hong Kong, Japan, Taiwan, Singapore

☆ International Disney parks target U.S. customers with American influencers and bloggers
▼ + stars: | 2024-05-17 | by ( Kat Tenbarge | ) www.cnbc.com time to read: +6 min

As they were originally conceived, Disney's international parks were meant to "bring the unforgettable Disney magic to an international audience," according to the company. While the international parks themselves have always taken steps to accommodate diverse audiences — providing shows and attractions in multiple languages — Disney appears to be marketing the international parks to American audiences in more direct ways. In addition to the content creator efforts, Disney has begun to include its international parks in its own content consumed by Americans. In the Disney+ show "Behind the Attraction," which premiered in 2021, numerous variations on American rides at international parks were discussed and digested for American audiences. Disney creators around the world grew their followings, and demand for content from international Disney parks rose alongside them.

Persons: Peter Pan, Disney, Quincy Stanford, AllEars, Stanford, Emma Kenner, Kenner, Taylor Swift, Rolling Stone Organizations: Disney, Tokyo Disney, YouTube, Disney Parks, NBC, Tokyo Disneyland, Magic, Tokyo Disney Resort, Stanford, Walt Disney Co, Paris La Défense, Rolling, Swift Locations: China, Japan, Tokyo, Shanghai, Hong Kong, U.S, California, Florida, Tokyo ., Paris

☆ Xpeng vice chair says 'right now we have no plans' to enter the U.S. market
▼ + stars: | 2024-05-17 | 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 EmailXpeng vice chair says 'right now we have no plans' to enter the U.S. marketBrian Gu, vice chair of Chinese auto giant Xpeng, discusses the EV market with CNBC's Emily Tan in Hong Kong.

Persons: Brian Gu, Emily Tan Locations: U.S, Hong Kong

☆ South Koreans compete to see who’s best at doing absolutely nothing
▼ + stars: | 2024-05-16 | by ( Sophie Jeong | ) edition.cnn.com time to read: +4 min

The annual Space-out competition, held on Sunday, finds who’s best at zoning out for 90 minutes without falling asleep, checking their phone or talking. Speed skater Kwak Yoon-gy takes part in the annual Space-out competition held on Sunday in Seoul. 26-year-old YouTuber Kim Seok-hwan zones out as he participates in the annual Space-out competition held on Sunday in Seoul. CNNThis year marks the tenth anniversary of the Space-out competition, founded by a visual artist, who goes by the pseudonym Woopsyang, after she suffered severe burnout. Charlie Miller/CNNSince the first Space-out competition was held in Seoul in 2014, it has expanded internationally, with contests taking place in various cities such as Beijing, Rotterdam, Taipei, Hong Kong and Tokyo.

Persons: who’s, Kwak Yoon, Charlie Miller, CNN “, ”, “, Kim Seok, ” Woopsyang, Kwon, Auguste Rodin, Auguste Rodin's, ” Kwon Organizations: CNN, Olympics Locations: Seoul, Beijing, Rotterdam, Taipei, Hong Kong, Tokyo, Korea

☆ Canada Goose jumps 16% after the company reports growth surge in China
▼ + stars: | 2024-05-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Shares of Canada Goose surged 16% on Thursday after the company reported earnings for the fiscal fourth quarter and announced it was expecting year-over-year sales growth for fiscal year 2025. Here's how the company did:Earnings per share: 5 Canadian cents, which may not compare with estimates of 7 Canadian cents5 Canadian cents, which may not compare with estimates of 7 Canadian cents Revenue: CA$358 million (US$263 million), which may not compare with the CA$315.5 million (US$232 million) expected by LSEG. The broader Asia-Pacific region excluding Greater China was up 29.1%, and North American sales saw an increase of 24.5%. This upbeat performance comes after the company announced back in March that it was going to cut 17% of its corporate workforce. Canada Goose reported the layoffs had generated about CA$20 million (US$14.7 million) in productivity improvements and cost savings for the fiscal fourth quarter.

Persons: Canada Goose, Neil Bowden, Bowden Organizations: Canada, LSEG, Revenue, North, Asia Pacific Locations: Canada, Greater China, Mainland China, Hong Kong, Macau, Taiwan, Asia, Pacific, China, Macao, North America

☆ China teases plan to buy unsold homes to fix property crisis. Markets are loving it
▼ + stars: | 2024-05-16 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The index has rallied nearly 30% from its January low, having entered a bull market earlier this month. Longfor Group, the ninth largest homebuilder in China, surged 11%, becoming the top performing stock on the Hang Seng Index. “We think this is a largely symbolic move to show support for the sector with a ‘national team’ for the housing market,” said Citi analysts. “We are cautiously optimistic about the ‘government-led buying on unsold units’ as it’s still being rolled out in more cities, “ said Jeff Zhang, an equity analyst at Morningstar. Nasdaq Golden China Index, which tracks Chinese companies listed on Wall Street, has gained 11% since the start of April.

Persons: ”, “, Jeff Zhang Organizations: Hong Kong CNN, Longfor, China Holdings, National Development, Reform Commission, ’, Citi, ING Group, Morningstar, homebuyers, Communist Party, Nasdaq Locations: China, Hong Kong, Beijing, Hangzhou, Xi’an, Chengdu, Shanghai

☆ Arup revealed as victim of $25 million deepfake scam involving Hong Kong employee
▼ + stars: | 2024-05-16 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —A British multinational design and engineering company behind world famous buildings such as the Sydney Opera House has confirmed that it was the target of a deepfake scam that led to one of its Hong Kong employees paying out $25 million to fraudsters. A spokesperson for Arup told CNN on Friday that it notified Hong Kong police in January about the fraud incident, and confirmed that fake voices and images were used. “Unfortunately, we can’t go into details at this stage as the incident is still the subject of an ongoing investigation. According to Hong Kong police, the elaborate scam saw the employee duped into attending a video call with people he believed were the CFO and other members of staff, but all of whom turned out to be deepfake recreations, Hong Kong police revealed in February. Authorities around the world are growing increasingly concerned about the sophistication of deepfake technology and the nefarious uses it can be put to.

Persons: Hong Kong CNN —, Arup, ” Rob Greig, Michael Kwok Organizations: Hong Kong CNN, Sydney Opera, Hong Kong, CNN, Hong, Beijing Olympic Games, Arup’s East Locations: Hong Kong, British, Hong, Arup’s East Asia

☆ CNBC Daily Open: Wall Street hits record, 'Thee rate cuts'
▼ + stars: | 2024-05-16 | by ( Abid Ali | ) www.cnbc.com time to read: +2 min

The Charging Bull is seen on an empty Wall Street on April 20, 2020 in New York City. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street hits record highThe S&P 500 and the Nasdaq rose to record highs after inflation data came in lower than expected. All three major indexes closed at record highs. Asia up, Japan's GDP shrinksAsia-Pacific markets rose on Thursday after Wall Street hit record highs.

Persons: Buffett, Chubb, Warren, Berkshire Hathaway, Seng, Biden, Morgan Stanley Organizations: CNBC, Nasdaq, Dow Jones Industrial, Federal, Tech, Nvidia, Apple, Microsoft, GameStop, AMC, Berkshire, Wall, Nikkei, U.S Locations: New York City, Zurich, Asia, Pacific, China

☆ China’s Shenzhen metropolis sees fastest growth in millionaires globally
▼ + stars: | 2024-05-16 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

China's Shenzhen has recorded the fastest growth in millionaires over the past decade, and is poised to see a further influx in the coming years, according to a recent report. Shenzhen recorded 140% growth in millionaire count, according to the report from New World Wealth and investment migration advisors Henley & Partners. In 2023 alone, Shenzhen saw a 10% growth in millionaires, while Beijing and Shanghai recorded a decline of around 5% amid an exodus of high-net-worth individuals from China. Shenzhen, also known as China's Silicon Valley, is expected to continue growing "very strongly" all through to 2040, compared with Beijing and Shanghai, which are likely to see moderate growth, Amoils added. China's Hangzhou city was second in terms of millionaire growth at 125%, while India's Bengaluru and Austin city in the U.S. placed third and fourth, respectively; China's Guangzhou ranked fifth, Amoils told CNBC.

Persons: Andrew Amoils, Amoils Organizations: Wealth, Henley & Partners, CNBC, China's Guangzhou Locations: Shenzhen, China, Beijing, Shanghai, Hong Kong, China's Hangzhou, Bengaluru, Austin, U.S

This week, Xi is welcoming him to China for a two-day state visit — their fourth in-person meeting since Russia’s onslaught in Ukraine began. China has repeatedly defended its trade with Russia as part of normal bilateral relations. Russia has also become China’s main oil supplier, overtaking Saudi Arabia, according to official Chinese trade data. Governments warn against support for Russia’s war effortThe wartime surge in trade, and growing purchases of oil, have sparked criticism in the West that China was helping to fund Russia’s war. It mirrors Xi’s state visit to Russia in March 2023, which was the Chinese leader’s first overseas trip after starting a norm-shattering third term as president.

Persons: Vladimir Putin’s, Xi, Putin, Antony Blinken, Emmanuel Macron, Ursula von der Leyen, Von der, ’, Volodymyr Zelensky, Joe Biden, Biden Organizations: Hong Kong CNN, United, European Union, International Monetary Fund, —, EU, White, European Commission Locations: China, Hong Kong, Russia, Ukraine, Russian, United States, Saudi Arabia, India, West, Beijing, France, Chinese

☆ YouTube blocks videos of Hong Kong protest song after local court order
▼ + stars: | 2024-05-15 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

CNN —YouTube has blocked access to a popular protest song in Hong Kong, a week after a court in the city granted a government request to ban the anthem. The ballad contains lyrics that reference the phrase “liberate Hong Kong, revolution of our times,” a protest slogan that was already outlawed in 2020. The Hong Kong government and courts had said the phrase had secessionist and subversive connotations. CNN has reached out to the Hong Kong Department of Justice for comment. Hong Kong was promised key freedoms and autonomy to run its own affairs after it was handed over from British rule to China in 1997.

Persons: We’ll, ”, Hong Kong ”, Jeff Paine, Paul Lam, Hong Kong, Hong Kong’s Organizations: CNN, YouTube, Google, ” CNN, Spotify, Hong, Asia Internet Coalition, Meta, Hong Kong Department of Justice, Hong Kong, “, Volunteers, ”, Hong Kong’s Department of Justice Locations: Hong Kong, Beijing, Hong, China

☆ Asia markets track Wall Street gains ahead of key U.S. inflation data
▼ + stars: | 2024-05-15 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

Employees work in the trading room inside the Mitsubishi UFJ Trust and Banking head office in Tokyo, Japan, on Tuesday, March 19, 2024. Asia-Pacific markets opened higher Wednesday, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data. The producer price index reading for April came in at 0.5%, above the 0.3% that economists polled by Dow Jones had expected. The initial market reaction was negative but stocks subsequently rose as March wholesale prices were revised down to show a 0.1% decline. Markets in South Korea and Hong Kong were shut on Wednesday for a public holiday.

Persons: Dow Jones Organizations: Mitsubishi UFJ Trust, Banking, Nasdaq Locations: Tokyo, Japan, Asia, Pacific, South Korea, Hong Kong

☆ CNBC Daily Open: Nasdaq at record high; Google boosts AI ambitions
▼ + stars: | 2024-05-15 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meme craze coolsShares of GameStop and AMC rose on Tuesday, extending Monday's gains after "Roaring Kitty" made a reappearance. Shares, however, gave up some of their earlier gains, suggesting enthusiasm for the so-called meme stocks was fading. Powell: Inflation falling slowlyFederal Reserve Chair Jerome Powell said inflation was not slowing as quickly as anticipated, requiring the central bank to maintain its current interest rates for longer.

Persons: Jerome Powell, Powell, Australia's, CNBC's Yun Li Organizations: Google Gemini, CNBC, Nasdaq, Dow Jones, Treasury, GameStop, AMC, Biden, Sony, China's CSI, AMC Entertainment Locations: Brussels, Belgium, China, Amsterdam, Asia, Pacific, Hong Kong, South Korea

☆ What’s in Our Queue? ‘Anita’ and More
▼ + stars: | 2024-05-15 | by ( David Pierson | ) www.nytimes.com time to read: 1 min

What’s in Our Queue? ‘Anita’ and MoreI’m a foreign correspondent covering China. Much of what I’ve been watching and listening to is helping me rediscover Hong Kong, a city I was born and raised in, but left three decades ago when I was a teenager. Here are five things that I’ve enjoyed →

Persons: Anita ’, I’ve Locations: China, Hong Kong

☆ PGA Championship: When Y.E. Yang became ‘The Tiger Killer’ to clinch Asia’s first men’s major trophy
▼ + stars: | 2024-05-15 | by ( Jack Bantock | ) edition.cnn.com time to read: +13 min

Tiger Woods, world No. Yang?’Despite his giant-slaying efforts, Yang was still relatively unknown when he pitched up to PGA Tour qualifying school the following season. Yang clinched his first PGA Tour title on his fourth start of the season at the Honda Classic to join K.J. Streeter Lecka/Getty Images“I wasn’t that nervous because it’s a game of golf,” Yang told reporters. The 24-year-old American stamped a last-minute ticket to Valhalla with his first PGA Tour victory at the inaugural Myrtle Beach Classic on Sunday.

Persons: Yang, –, Woods, ”, Joe, Mike Douglas, Yang –, Joe ”, fatefully, Yang toasts, ’, “, ” AJ Montecinos, texted, “ I’d, ” Montecinos, Montecinos, Jamie Squire, Choi, Montecinos –, Charles Baus, It’s, you’re, – it’s, Streeter Lecka, ” Yang, “ It’s, ” Woods, I’m, Hideki Matsuyama’s, Yang …, Christian Petersen, Montecinos ’, Chris Gotterup, Wanamaker, Tiger Organizations: CNN, Korean –, Hazeltine, Augusta National, –, CBS, European, HSBC, PGA Tour, PGA, Honda, K.J, Koreans, South Korean, Woods, Tiger, Hong, Korean, Southern Hills, Myrtle Beach Locations: Chaska , Minnesota, Jeju, Korea, Asia, Shanghai, China, Korean, Texas, San Antonio, Hazeltine, Woods, Hong Kong, Tulsa , Oklahoma, Valhalla, Kentucky

☆ Why Biden’s monster EV tariffs could inflame a Europe-China trade war
▼ + stars: | 2024-05-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

It’s a very different matter in Europe — by far the biggest export market for Chinese EV manufacturers. EU tariffs could backfireAccording to Citi, the EU accounted for 36% of Chinese EV exports last year, more than the next five largest markets combined. By contrast, the United States currently receives just 1.1% of China’s EV exports. For BYD, China’s biggest EV maker, the tariffs would likely have to be even higher to be effective, they add. “I’d say we are entering a very tense period in terms of trade interactions and trade defense,” she added.

Persons: Joe Biden, “ I’m, ” Biden, Joseph Webster, Agatha Kratz, Kratz, That’s, Oliver Zipse, ”, Tu Le, “, Josh Lipsky, Juliana Liu Organizations: London CNN, United, EV, European Union, Atlantic Council, EU, CNN, Citi, Capital Economics, BMW Locations: China, America, Europe, United States, It’s, Brussels, “ Brussels, Beijing, subsidization, EU, States, Italy, Hong Kong

☆ YouTube says it will block videos of Hong Kong protest anthem following court order
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Alphabet's YouTube on Tuesday said it would comply with a court decision and block access inside Hong Kong to 32 video links deemed prohibited content, in what critics say is a blow to freedoms in the financial hub amid a security clampdown. The action follows a government application granted by Hong Kong's Court of Appeal requesting the ban of a protest anthem called "Glory to Hong Kong." In comments criticizing the court order, YouTube said the ruling would raise skepticism around the Hong Kong government's work to foster the digital economy and reclaim its reputation as a predictable place for doing business. "If you start to send platforms 100 or 1,000 links for takedown every day, this will drive platforms crazy and also make global investors more worried about Hong Kong's free market environment. How predictable and how stable the policy environment is matters a lot to foreign investors, and Hong Kong is now at a crossroads to defend its reputation."

Persons: Hong Kongers, We'll, George Chen, Chen, Hong Organizations: YouTube, Hong, Appeal, U.S ., Asia Group, Washington DC, Meta Locations: Hong Kong, Hong Kong's, Washington, Greater China

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