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China passed revisions to an already stringent state secrets law, broadening the scope of the type of information that would be considered a national security risk in the world’s second-largest economy. Over the last year, China has targeted consultants and business executives in espionage cases as part of a push to limit the spread of information sought by investors and foreign companies. The amendments to the state secrets law, which were passed by China’s top legislative body on Tuesday and go into effect in May, include a new legal concept called “work secrets.” It is defined as information that is not an official state secret, but “will cause certain adverse effects if leaked,” according to the law’s text. “The law is vague and the definition of state secret so broad that it could include anything that the party-state decides it should,” said Diana Choyleva, chief economist at Enodo Economics, a London-based research firm focused on China. “It will also further complicate life for foreign firms and their employees based in China.”

Persons: ”, Diana Choyleva Organizations: Enodo Locations: China, London

☆ Evergrande liquidation: Here’s what may happen next
▼ + stars: | 2024-01-31 | by ( Laura He | ) edition.cnn.com time to read: +9 min

But there is still little clarity over how the liquidation of Evergrande will unfold. That’s because the legal systems of Hong Kong and China remain distinct, despite Beijing’s growing control over the former British colony in recent years. No Chinese company as huge as Evergrande — which was once China’s second largest developer— has been wound up by a Hong Kong court. Hui Ka Yan, chairman of property developer China Evergrande. Since then, Evergrande has been building and selling apartments in mainland China, even though it has been unable to repay its debts.

Persons: Alvarez, Marsal, —, ”, John Bringardner, Hong, Hui Ka Yan, Xu Jiayin, Hui, Xiao En, Bobby Yip, Xiao, Evergrande, Florence Lo, homebuyers, Will, Andy Wong, Diana Choyleva, Xiao Yuanqi, ” Bringardner, ” Choyleva, Choyleva, “ Evergrande Organizations: Hong Kong CNN, Shimao, Kaisa Holdings, Group, “, Real, Century Business Herald, China Index Academy, Enodo, Communist Party, China’s, Financial Regulatory Administration, Getty, People’s Bank of China, Finance Ministry, Evergrande, Marsal Locations: Hong Kong, United States, China, British, New York, China . Hong Kong, Shenzhen —, Asia, Florence, Beijing, Real, Hainan

☆ China stock market: Calm returns after wild week but big challenges remain
▼ + stars: | 2024-01-26 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —It’s been a rollercoaster week for stocks trading in mainland China and Hong Kong. “For a sustained rally in China stocks, we think China will need to address the core of these concerns (predominantly property sector issues and US-China tensions),” the analysts added. In the 7 days to January 24, exchange-traded funds (ETFs) tracking Chinese stocks recorded large inflows of $12.6 billion, according to a Citi survey of global fund managers. Still, investors have been fleeing Chinese stocks over a much longer period because they are worried about the country’s economic prospects. The country is facing the prospect of a vicious cycle whereby lower demand leads to lower investment, lower production and lower income, thus causing even lower demand.

Persons: Hong Kong CNN — It’s, Hong, — haven’t, ” Nomura, “, Li Qiang, ”, Li Yunze, Pan Gongsheng, Florence Lo, HSI, Raymond Yeung, ” Yeung Organizations: Hong Kong CNN, Shanghai Shenzhen, ”, Shanghai Financial Exchange, Bloomberg, State, Supervision, Administration Commission, Administration of Financial, Reuters, People’s Bank of China, Citi, Enodo Economics, HSBC, Greater China, ANZ Research Locations: China, Hong Kong, Shanghai, United States, Beijing, Davos, Switzerland, Greater

☆ China’s Rebound Falters, Tripped Up by Debt and Weak Exports
▼ + stars: | 2023-07-16 | by ( Keith Bradsher | More About Keith Bradsher | ) www.nytimes.com time to read: +5 min

China’s economy is flashing many warning signs. Weak spending is pushing China close to a dangerous trend known as deflation: Consumer prices are flat, and wholesale prices paid by companies are actually falling. “It’s not a strong recovery; the economy is quite weak,” said Wang Dan, the chief economist at Hang Seng Bank China. Some companies are also moving supply chains out of China, which will have a longer-lasting effect on exports, Mr. Fattal said. But a huge accumulation of debt, particularly at the level of local governments, has made that hard to do.

Persons: ”, Diana Choyleva, “ It’s, Wang Dan, Richard Fattal, Fattal, Lou Jiwei, Cui Dongshu, Fu Linghui, Lou, Ms, Wang, Li You Organizations: Enodo, National Bureau, Statistics, Investment, Hang Seng Bank China, National Bureau of Statistics, Administration, Customs, Companies, Workers, China, China Passenger Car Association Locations: Shanghai, London, China, Baoding, United States, Europe

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