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Fan Bao, founder of China Renaissance Holdings, was detained last month by antigraft investigators. Chinese financier Fan Bao , who went missing last month, has been detained by authorities in mainland China in connection with a corruption investigation targeting a former senior executive at the investment bank he founded, according to people familiar with the matter. The investment bank, China Renaissance Holdings Ltd., disclosed on Feb. 16 that it had been unable to contact Mr. Bao, who serves as the bank’s chairman and chief executive. On Sunday, it said in a regulatory filing that it had since discovered Mr. Bao is aiding an investigation being carried out by authorities in China, which it didn’t name.

☆ Belarus Leader to Visit China Amid Flurry of Ukraine Diplomacy
▼ + stars: | 2023-02-25 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

Belarusian leader Alexander Lukashenko has paid several state visits to China. Belarusian President Alexander Lukashenko will visit China next week, as Beijing has sought to play a more active role in diplomacy around the war while supporting its close partner Russia. Mr. Lukashenko is scheduled to pay a state visit to China from Feb. 28 to March 3, Chinese state media reported Saturday. The trip comes amid a flurry of diplomacy around the anniversary of the Ukraine war. China’s top diplomat, Wang Yi, visited Russia this week, around the same time as President Biden made a surprise trip to Kyiv.

Sequoia Capital has started screening some investments its China arm is considering in technology companies there for U.S. national-security concerns, according to people familiar with the matter, as Washington steps up efforts to stop American money from funding China’s development of sensitive technologies. The Biden administration is expected to soon unveil investment restrictions that would prevent U.S. capital from flowing to companies and startups in China that are developing cutting-edge technologies in sectors including advanced semiconductors.

☆ UBS Set to Apply for China Mutual-Fund License
▼ + stars: | 2023-02-23 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

UBS was the first foreign bank in China to take majority ownership of its local investment-banking unit. UBS Group AG is preparing to apply for a mutual-fund license in China, according to people familiar with the matter, becoming the latest Western bank to take advantage of Beijing’s relaxed rules on foreign financial institutions. The Swiss bank has held informal communications with the China Securities Regulatory Commission about its intention to apply, and plans to submit the application as soon as possible, some of the people said.

☆ Kim Jong Un attended a soccer match with his daughter, sparking fresh rumors that she will be North Korea's next ruler
▼ + stars: | 2023-02-20 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

North Korean dictator Kim Jong Un's daughter is making increasingly frequent public appearances. North Korean state media said that Kim Jong Un had attended the match in Pyongyang Friday to mark the North Korean Day of the Shining Star holiday, which commemorates his father, Kim Jing Il's, birth. In pictures of the event, Kim Ju Ae, who is believed to be about 10, sits beside her father. North Korean leader Kim Jong Un reacts as he watches sport games in Pyongyang, North Korea on February 17, 2023. KCNA via ReutersAlso pictured at last week's soccer match was Kim Jong Un's sister, Kim Yo Jong, who is also rumored to be a potential successor to the dictator.

☆ China’s Securities Regulator Releases Long-Awaited Rules on Overseas Listings
▼ + stars: | 2023-02-17 | by ( Jing Yang | Rebecca Feng | ) www.wsj.com time to read: 1 min

New rules published by the China Securities Regulatory Commission require all mainland Chinese companies planning foreign share sales to inform the regulator beforehand. China’s securities regulator has released its long-awaited rules on companies’ overseas listings, taking a concrete step to move past a long regulatory assault that upended some of the country’s biggest internet companies. The move follows repeated calls from the country’s top leadership to normalize the policy environment, part of an attempt by the government to shift focus back toward economic growth after a strict zero-Covid policy and a series of regulatory moves pushed down valuations in the technology and internet sectors and shook investor confidence.

☆ After unexpected death of 6-year-old girl, family becomes target of 'Died Suddenly' anti-vax conspiracy theories
▼ + stars: | 2023-02-11 | by ( Isobel Van Hagen | ) www.businessinsider.com time to read: +4 min

An anti-vax social-media campaign has targeted the family of a 6-year-old girl who died suddenly. A photo of the child posted on the "Died Suddenly" Twitter blamed her parents for vaccinating her. #DiedSuddenly is a recent iteration of an online conspiracy spreading disinformation about vaccines. The "Died Suddenly" hashtag is centered around a video by the same name, which labels itself as a "documentary film of a generation." Anastasia and her family are only one of the latest targets of the "Died Suddenly" Twitter account, which began posting in October 2022 and has nearly 300,000 followers.

☆ Private-Equity Funds Turn to Yuan Offerings, Defying Wider Slowdown in China
▼ + stars: | 2023-01-28 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

Yuan-denominated funds are getting demand from a mix of local and international investors. HONG KONG—Some international private-equity firms investing in China are choosing to denominate new funds in the country’s local currency, going against a wider slowdown in global demand for bets on Chinese startups. The appetite for allocating capital to funds focused on China has waned over the past year, the result of factors including tensions between Beijing and Washington, higher U.S. interest rates and a prolonged crackdown on China’s once-hot internet sector.

☆ China fixed-asset investment approvals almost doubled in 2022 to $218 bln
▼ + stars: | 2023-01-18 | by ( Joe Cash | ) www.reuters.com time to read: +2 min

BEIJING, Jan 18 (Reuters) - China's state planner approved 1.48 trillion yuan ($218.35 billion) worth of fixed asset investment projects in 2022, nearly double the value from the previous year, as authorities geared up to support the COVID-hit economy. Looking to 2023, the NDRC spokesperson remarked that the country's economic recovery remains complicated given that China must grapple with shrinking demand, supply chains shocks and turbulence in the global economy. China's exports shrank sharply in December as global demand cooled, contracting 9.9%, while imports fell by a more modest 7.5%. Officials also addressed the country's grain supply, commenting that the NDRC could ensure the safe supply of grain despite the challenges the market is facing. Reporting by Joe Cash and Shen Yan; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

[1/2] The app logo of Chinese ride-hailing giant Didi is seen reflected on its navigation map displayed on a mobile phone in this illustration picture taken July 1, 2021. Didi has been awaiting authorities' approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to resume normal business since its regulatory troubles started in mid-2021. A lifting of the ban on Didi apps would come as Chinese policymakers seek to restore private sector confidence and count on the technology industry to help spur economic activity that has been ravaged by the COVID-19 pandemic. The delay in the return of the apps had cast a shadow over Didi's business plans. That deal is primarily subject to the apps' resumption for official announcement, said the two sources.

☆ China growth seen rebounding to 4.9% in 2023, more stimulus on the cards: Reuters poll
▼ + stars: | 2023-01-12 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

"We expect economic activities and consumption to rebound strongly from March-April onwards, helped by post-COVID re-opening and release of excess savings," Tao Wang, chief China economist at UBS, said in a research note. Reuters GraphicsThe expected 2022 growth rate would be far below the official target of around of 5.5%. China is likely to aim for economic growth of at least 5% in 2023 to keep a lid on unemployment, policy sources said. "Economic policy would turn more supportive in 2023. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.

That abrupt U-turn unleashed COVID on a 1.4 billion population which has been shielded from the virus since it first erupted in China's Wuhan city in 2019. The outbreak is now overwhelming hospitals and crematoriums as it rips through the population, where many elderly are still not fully vaccinated. "This is a very pertinent suggestion, return to the home town...or put the health of the elderly first," wrote one user. The country did not report COVID fatalities data on Tuesday and Wednesday. But concerns about China's outbreak has prompted more than a dozen countries to demand negative COVID test results from people arriving from China.

☆ Jack Ma Cedes Control of Fintech Giant Ant Group
▼ + stars: | 2023-01-07 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/jack-ma-cedes-control-of-fintech-giant-ant-group-11673066817

☆ Hong Kong Stock Exchange Woos Global Companies After Expanding China Link
▼ + stars: | 2023-01-04 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

Hong Kong is making a pitch to multinational companies to list on its stock market, despite heightened tensions between China and the West. The city’s stock exchange hopes a new initiative that allows mainland Chinese investors to trade shares of international companies will present a compelling case for some of the world’s largest businesses to raise funds in the Asian financial hub.

☆ 22 Unique Valentine’s Gifts for Men Who Have Everything
▼ + stars: | 2022-12-19 | by ( ) www.wsj.com time to read: +12 min

From the cocktail gadget that will level-up his drinks to the ultimate undershirts, these are presents you can purchase with confidence—no gift receipt required. This edition has a wood cabinet with metal plaques, die-cast metal houses and hotels, gold-foil stamping and money-holding drawers. Buy Side’s favorite automatic cocktail maker works with pre-measured pods and his favorite spirits to dispense cocktails at the push of a button. For more great gadget ideas, check out our roundup of the top gifts for your favorite techie. Even better, the jean material “came ready-to-wear with no awkward break-in period, plus a custom liner.”—Additional reporting by Leslie Yazel

Reuters could not immediately establish if the deaths were due to COVID. The NHC also reported 1,995 symptomatic infections for Dec. 18, compared with 2,097 a day earlier. A hashtag on the two reported COVID deaths quickly became the top trending topic on China's Twitter-like Weibo platform on Monday morning. But it is not just the elderly that are wary of vaccines in China. While China's medical community in general doesn't doubt the safety of China's vaccines, some say questions remain over their efficacy compared to foreign-made mRNA counterparts.

[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.

☆ U.S. Regulator Says It Has Access to Audit Papers of Chinese Companies
▼ + stars: | 2022-12-15 | by ( Jing Yang | Michelle Chan | ) www.wsj.com time to read: 1 min

The Public Company Accounting Oversight Board said it has secured complete access to inspect China-based audit firms for the first time in history, resetting a three-year delisting clock for Chinese companies on American stock exchanges. The U.S. audit regulator said Thursday its recent inspection of these accounting firms was conducted without consultation or input from Chinese authorities.

☆ Chinese-Backed Lanvin Group Makes New York Trading Debut After SPAC Merger
▼ + stars: | 2022-12-15 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

A worker managed the inventory at a Lanvin store in Moscow in the early days of the Covid pandemic. Chinese-owned luxury fashion company Lanvin Group made its debut on the New York Stock Exchange on Thursday, after merging with a blank-check firm backed by Chinese private-equity firm Primavera Capital. Lanvin Group , which owns multiple Western brands, is controlled by China’s Fosun International Ltd. and has raised over $150 million in fresh capital at a valuation of $1 billion. It came to the market despite a sharp turn in fortunes for special-purpose acquisition companies and a wider slowdown in the market for new listings.

☆ Expect Asian currencies to outperform as central banks remain hawkish, says analyst
▼ + stars: | 2022-12-13 | 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 EmailExpect Asian currencies to outperform as central banks remain hawkish, says analystLeong Lin Jing of Columbia Threadneedle Investments says Asian central banks are likely to keep hiking interest rates even if the U.S. Federal Reserve stops doing so.

☆ China's yuan could get a boost as Covid measures ease, says BK Asset Management
▼ + stars: | 2022-12-09 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

watch nowThe Chinese yuan significantly strengthened in the past few days as China announced further easing of its Covid control measures. However, it quickly recovered to 6.96 within about a month as Chinese health authorities continued to announce further easing measures. "That will renew the demand for the Chinese yuan and drive the yuan even higher than it is right now." Beijing has been rolling back the restrictions "pretty quickly," and the surge in demand for the yuan comes with a sooner-than-expected easing measures, Lien said. Woman holds Chinese Yuan banknotes in this illustration taken May 30, 2022.

☆ Ex-convict found with friend's severed head in car after Las Vegas police chase sentenced to at least 18 years in prison
▼ + stars: | 2022-12-02 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

An ex-convict who led police on a chase around Las Vegas before officers found the severed head and dismembered body of his friend in a stolen vehicle he was driving was sentenced Thursday to at least 18 years in prison. Eric Holland, following his arrest on Dec. 23, 2021, in Las Vegas. Las Vegas Police Department / AP“I don’t know how to make sense of it,” sobbed Amanda Dawn Potter, who traveled from Portland, Oregon, for Holland’s sentencing. Holland was friends with Miller, 65, who lived on a houseboat at Lake Mead, the Colorado River reservoir about a 30-minute drive from Las Vegas. Las Vegas police said Thursday they had no missing person investigation related to Zhu.

HONG KONG/SHANGHAI/BEIJING, Dec 2 (Reuters) - China has ordered its top four state-owned banks to issue offshore loans to help developers repay overseas debt, three people with knowledge of the matter told Reuters, rolling out its latest support measure for the cash-starved property sector. The regulators have given 'window guidance', or verbal orders that leave no paper trail, to the banks, setting a date of Dec. 10 by which to make the loans secured against domestic assets, two of the sources said. Funds received after the latest step will allow developers to repay offshore loans and dollar bonds in a bid to repair global investors' bruised confidence in the sector, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The People's Bank of China, the central bank, and the China Banking and Insurance Regulatory Commission (CBIRC) did not immediately respond to Reuters' requests for comment.

Funds flowing from banks will allow developers to repay offshore loans and dollar bonds, helping to repair global investors' bruised confidence, two of the sources said. Each of the four banks, Bank of China (601988.SS), China Construction Bank (601939.SS), Industrial and Commercial Bank of China (601398.SS) and Agricultural Bank of China (601288.SS), will pick several developers to fund, the three sources said. The third source said that, while the big four banks preferred fresh lending to go to state-backed developers, they would have to include some private firms, which have a greater need for offshore loans. Chinese banks make offshore loans secured against domestic assets to companies that need foreign funds, but regulatory tightening in the last couple of years to rein in debt-fuelled empire-building by corporates hampered that kind of lending. China's central bank will also offer cheap loans to financial firms to buy bonds issued by property developers, separate sources have told Reuters.

☆ Hong Kong’s Stock Market Struggles to Find Shelter From the Storm
▼ + stars: | 2022-11-28 | by ( Jing Yang | ) www.wsj.com time to read: 1 min

Hong Kong is the only major exchange in the world that closes for bad weather. When Hong Kong hosted a summit for some of Wall Street’s top executives in early November, its aim was to show the city was open to the world. In a case of bad timing, its financial markets were forced to close early that day. The city’s weather observatory issued a Typhoon No. 8 signal a little before 2 p.m. on Nov. 2, causing its exchange to suspend trading in stocks and derivatives for the rest of the day.

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