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Search resuls for: "Evelyn Cheng Daisy Cherry"


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☆ China sees record 7.7 million applicants for 200,000 government jobs
  + stars: | 2023-03-16 | by ( Evelyn Cheng Daisy Cherry | Evelyn Cheng | Daisy Cherry | ) www.cnbc.com   time to read: +6 min
According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. Qilai Shen | Corbis Historical | Getty ImagesA record number of people in China took the civil service exam this year, as unemployment among young people soared. According to CNBC analysis of state media reports, 7.7 million people took the civil service exam in the 2023 application round, vying for more than 200,000 government jobs at the national and provincial level. China's National Civil Service Administration could not be reached for comment despite multiple attempts by CNBC. However, Xi and other senior leaders did not need to take the civil service exam to gain their current roles.
☆ Silicon Valley Bank collapse hits startups as far away as China
  + stars: | 2023-03-13 | by ( Evelyn Cheng Daisy Cherry | Evelyn Cheng | Daisy Cherry | ) www.cnbc.com   time to read: +1 min
The Silicon Valley Bank fallout has ripple effects on Chinese startups, particularly those backed by U.S. dollar-denominated funds. U.S. regulators shut down the bank Friday in what has become the country's second-biggest banking failure. Silicon Valley Bank had built its business on supporting tech startups, including those from China. "Mainstream traditional banks, such as Standard Chartered, HSBC, Citi have strict compliance and it takes a long time to start a bank account with them. The source, who founded a fintech company and two other tech companies, said venture capitalists liked working with SVB because the bank allowed the investors to see and approve how the startups used their funds.
☆ China is rolling out the red carpet to attract foreign executives
  + stars: | 2023-03-03 | by ( Evelyn Cheng Daisy Cherry | Evelyn Cheng | Daisy Cherry | ) www.cnbc.com   time to read: +5 min
Such efforts to attract foreign investment come as the pandemic and geopolitical tensions push companies to diversify their supply chains away from China. The Commerce Ministry said Thursday that for the first time, it would launch events for an "Invest in China Year." Apple later said the Zhengzhou factory disruptions would delay deliveries of some iPhone 14 models. He also noted "serious challenges" to attracting foreign investment. Those include unfair competition with local players in China due to industrial policies, lack of legal protection for foreign business in China and geopolitical risks, Wang said.
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