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☆ Former Hong Kong publisher Jimmy Lai begins to testify in his national security trial
▼ + stars: | 2024-11-20 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +4 min

HONG KONG — Former Hong Kong publisher Jimmy Lai began testifying Wednesday in his landmark national security trial that is widely seen as a measure of press freedom and judicial independence in the Chinese territory. He is fighting charges of colluding with foreign forces to endanger national security and conspiring with others to issue seditious publications. Lai, 76, faces up to life in prison if convicted under a national security law imposed by Beijing. But critics say that promise has become threadbare under the rubric of maintaining national security. It added that judges remain independent and partial when handling national security cases.

Persons: Jimmy Lai, Lai, Roman Catholic Cardinal Joseph Zen, Anthony Wallace, Mike Pence, Mike Pompeo, William Wong, Wong, Kongers, “, ”, Donald Trump, Xi Jinping, Hong, John Lee, Lai ., Keir Starmer, Xi, Chris Tang, Sebastien Lai, Doughty, Chambers, Jodie Ginsber Organizations: Roman Catholic, Catholic, Apple Daily, Getty, British, Authorities, Prosecutors, Beijing “, U.S, American, United Nations, Capitol, Protect Journalists, Hong Locations: HONG KONG, Hong Kong, Beijing, AFP, United States, U.S, Lai . British, British, Brazil, Hong, Britain, Washington

☆ Milan’s Via Monte Napoleone is now the world’s most expensive shopping street
▼ + stars: | 2024-11-20 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Milan’s Via Monte Napoleone has beat out New York’s Fifth Avenue to become the world’s most expensive shopping street, marking the first time a European city has topped the rankings. The Gucci store on Fifth Avenue in New York City, seen in March 2024. In April, Gucci parent Kering paid €1.3 billion ($1.4 billion) to acquire a building on Via Monte Napoleone from a subsidiary of Blackstone. The world’s 10 most expensive shopping locations, by rent per square foot, according to Cushman & Wakefield:1. Via Monte Napoleone, Milan2.

Persons: Thomas Casolo, ”, Gucci, Michael M, Robert Travers, Kering, Blackstone . Chanel, Versace, Cartier, Celine Organizations: London CNN, New, Cushman &, Bond, Hong, Cushman, Wakefield’s, Italy, CNN, Via, Blackstone ., Henley & Partners, Cushman & Wakefield, New Bond, Tsui, Pitt, Mall Locations: Napoleone, Cushman & Wakefield, Paris, New York City, Europe, East, Africa, Via Monte Napoleone, Bottega, Milan, New York, London, Hong Kong, Ginza, Tokyo, Bahnhoftstrasse, Zurich, Sydney, Myeongdong, Seoul, Kohlmarkt, Vienna

☆ Indian international students in the US outnumber Chinese for the first time in 15 years
▼ + stars: | 2024-11-20 | by ( Jessie Yeung | ) edition.cnn.com time to read: +10 min

A changing ChinaIt was a different world in the late 2000s and early 2010s, when Chinese students first began surging overseas. In 2020, the US revoked visas for more than 1,000 Chinese students and researchers deemed security risks. In January this year, Chinese foreign ministry spokesperson Wang Wenbin said in a briefing that “dozens of Chinese nationals, including international students, have been forcibly deported by the US each month.” He decried it as “discriminatory,” urging the US to protect the rights of Chinese students abroad. The Covid yearsThe number of Chinese students in the US plunged during the pandemic and hasn’t rebounded since. “Since the economic sanctions and tech restrictions started in 2018, many (Chinese) students have been sent back home,” one user wrote on Weibo.

Persons: “, ”, Mallie Prytherch, ‘, ’, Donald Trump’s, ” Prytherch, Trump, Prytherch, Joe Biden, Wang Wenbin, Li Jing, hasn’t, Mirka Martel, Steven Hon, didn’t, Hon, Marianne Craven, they’ve Organizations: Hong Kong CNN, Education consultancies, State Department, of International Education, University of Hong Kong’s, Contemporary, Beijing, World Trade Organization, Games, America, Fulbright, Trump, Tsinghua University, CNN, Institute of International Education, Education, –, Ivy League Locations: Hong Kong, United States, China, India, America, Contemporary China, “, Beijing, cybersecurity, Macau, Weibo, Canada, Australia, American

☆ 45 Hong Kong pro-democracy activists are sentenced to jail in city’s biggest national security trial
▼ + stars: | 2024-11-19 | by ( Jennifer Jett | Jennifer Jett Is The Asia Digital Editor For Nbc News | Based In Hong Kong. | ) www.nbcnews.com time to read: +7 min

HONG KONG — A Hong Kong court sentenced dozens of leading pro-democracy figures to up to 10 years prison Tuesday in the single largest trial under a national security law that critics say has been used to all but eliminate political dissent in the Chinese territory. Lawyers for the defendants have argued that such action was within the bounds of Hong Kong law. In March, Hong Kong’s opposition-free legislature also enacted local national security legislation. Among the 47 are “second-tier pan-democrats” who were previously active members of the Hong Kong legislature, Burns said. Hong Kong officials said last month that there was no time limit for prosecuting the cases, noting that it takes time to gather evidence.

Persons: Benny Tai, Tai, Carrie Lam, Hong Kong’s, Hong, Maya Wang, ”, Tai —, John Burns, Burns, Jimmy Lai, “, Jonathan Sumption, ” Sumption, Kong’s, of Organizations: University of Hong Kong, Hong, Authorities, Human Rights, University of Hong, Apple Daily, Pew Research Center, Financial Locations: HONG KONG, Hong Kong, Beijing, British, U.S, China, University of Hong Kong, Hong Kong’s

He was the founder of Apple Daily, a pro-democracy, anti-Beijing newspaper that was forced to shut down in 2021. The trial, which began in December 2023, is the most high-profile prosecution of a Hong Kong media figure since the city was handed over from British to Chinese control in 1997. Like all national security trials in Hong Kong, Lai’s trial does not have a jury and is presided over by three judges picked from a national security committee that is approved by Hong Kong’s leader. “Jimmy Lai is a key instigator of anti-China activities, and his collusion with external forces to disrupt Hong Kong and incite division is well-known,” China’s foreign ministry office in Hong Kong said in a statement last week. Reporters Without Borders (RSF) ranked Hong Kong at 135 out of 180 places in its annual press freedom ranking.

Persons: Jimmy Lai, hasn’t, Hong Kong’s, Joshua Wong, “, Donald Trump, Lai, Keir Starmer, Xi Jinping, “ We’re, Jimmy Lai’s, ” Starmer, Xi, Daniel Suen, ’, Chiu Mei, “ Lai, ”, Chris Lau, CNN Lai, Trump Lai, Mike Pence, Trump, you’re, ” Lai, Hong, Anthony Kwan, John Lee, Lee, Trump’s, Hugh Hewitt, I’ll Organizations: Hong Kong CNN, Apple, White, Apple Daily, Getty, Hong, CNN, “, ” Prosecutors, Kowloon Law, Trump, Beijing, Hong Kong . Police, ” Police, HK, Hong Kong Locations: Hong Kong, China, Britain, British, Brazil, AFP, Beijing, Kowloon, Washington, “ Hong Kong, China , Hong Kong, Hong

☆ Hong Kong 47: Democracy leaders sentenced to lengthy jail terms in largest national security trial as Beijing tightens grip
▼ + stars: | 2024-11-18 | by ( Chris Lau | Nectar Gan | ) edition.cnn.com time to read: +8 min

Benny Tai, a prominent legal scholar and veteran protest leader, received the longest prison term of 10 years – the toughest sentence to date handed down under the national security law. But since the national security law came into effect in 2020, Hong Kong’s political and legal landscape has been transformed. The administration of outgoing US President Joe Biden was also critical of Bejing’s crackdown in Hong Kong, even as it tried to recalibrate ties with Beijing. John Burns, emeritus professor at the University of Hong Kong, said the cumulative changes have reduced the city’s autonomy and citizens’ participation in politics. “The new regime has restricted human rights in Hong Kong, rights that Hong Kongers used to enjoy.

Persons: Hong Kong’s, Joshua Wong, “, –, Benny Tai, Wong, Gwyneth Ho, Leung Kwok, Claudia Mo, teared, ” –, Chris Lau, Lee Yue, ”, Hong, Donald Trump’s, Joe Biden, Trump, Raphael Wong Ho, John Burns, Hong Kongers, Hong Kong, John Lee –, ” Lee Organizations: Hong Kong CNN, Hong, CNN Landmark, Police, Washington, Beijing, CNN, Legislative Council, University of Hong, Authorities, Communist Party Locations: Hong Kong, Kowloon, Beijing, British, China, University of Hong Kong, Hong

☆ Hong Kong protest bomb plot mastermind is jailed for nearly 24 years
▼ + stars: | 2024-11-15 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +2 min

HONG KONG — Hong Kong’s high court on Thursday sentenced a man to 23 years and 10 months in prison for being the mastermind of an alleged plot to attack police with explosives during the city’s pro-democracy and anti-China protests in 2019. Another defendant, Wong Chun-keung, the leader of a group known as the “Dragon Slayers” that was active during the 2019 protests, was sentenced to 13 years and six months imprisonment. The long jail terms come amid a protracted national security clampdown by China in the global financial hub, and is the first time the U.N. anti-terrorism ordinance has been used in Hong Kong since 2002. He was convicted of an alternative charge of conspiring to cause explosions that were likely to endanger life or cause significant property damage. The ruling came less than a week before 45 of Hong Kong’s leading democrats face sentencing in a separate national security case for an alleged subversive plot from 2020.

Persons: Ng Chi, Wong Chun, Judianna Barnes, Steve Li, ”, Lai Chun, Hong Kong’s Organizations: United Nations Anti, Hong Kong Locations: HONG KONG, China, Hong Kong

HONG KONG — Hong Kong’s top leader on Tuesday warned President-elect Donald Trump not to interfere in the Chinese territory’s internal affairs after he said he would “100%” free the imprisoned pro-democracy activist and tycoon Jimmy Lai. He said Hong Kong, whose government denies that judicial independence is under threat, also valued the rule of law. “In these respects, I hope that all countries will respect the Hong Kong Special Administrative Region and avoid political interference that could affect the judiciary and normal commercial activities in Hong Kong,” he said. Hong Kong also enacted its own national security legislation in March. Pro-democracy activist Jimmy Lai being escorted out of court in Hong Kong in 2021.

Persons: Hong Kong’s, Donald Trump, Jimmy Lai, Lai, Hong, Trump, Hugh Hewitt, I’ll, Lee, ”, “, Hong Kong, . Lai, John Burns, ” Burns, ” Lai, Burns, Sen, Marco Rubio, ” Lee Organizations: Apple, Hong, Administrative, AFP, Getty, University of Hong, NBC News, “, Trump, Republican, Fraser Institute Locations: HONG KONG, Hong, China, Hong Kong, United States, U.S, Beijing, British, ., University of Hong Kong, ” Hong Kong, Washington , New York, San Francisco, Vancouver, Singapore

☆ Hong Kong: Why Russians with wads of cash flock to Apple stores in this Asian hub
▼ + stars: | 2024-11-09 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —When the new iPhone 16 went on sale, locals couldn’t help but notice some less familiar faces flocking to Hong Kong’s Apple stores: Russians holding piles of cash. “We want to buy as many as possible,” one Russian buyer, Nick Alexenkov, told CNN outside the Apple store in Tsim Sha Tsui, a busy shopping district in Hong Kong. Alexenkov, the iPhone purchaser in Hong Kong, said he expected to turn a profit of up to 25% for each phone despite offering to pay 12% above the retail price to acquire those phones in Hong Kong. A man holds an Apple iPhone 16 Pro Max ahead of the launch of sales of the new iPhone 16 series smartphones in a store in Moscow, Russia September 20, 2024. A man from Hong Kong, who tried to sell two 1-terabyte Pro Maxes, complained that, at $2,027 each, the Russian buyers weren’t offering enough.

Persons: Nick Alexenkov, Vladimir Putin, ”, Max, Alexenkov, Evgenia Novozhenina Organizations: Hong Kong CNN, Kong’s Apple, CNN, Apple, Mobile, MTS, ” Reuters, Reuters Locations: Hong Kong, Tsim Sha, Ukraine, Russia, Moscow, Eldorado, Russian, Central

☆ Dow set to surge more than 1,200 points as Trump is reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +5 min

Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. So Trump’s victory, at least for now, appears to be keeping those rates somewhat higher. Other so-called Trump trades, including shares of his social media stock, Trump Media & Technology Group, surged Wednesday morning.

Persons: Donald Trump, Trump, Joe Biden’s, refocusing, Sam Stovall, Bitcoin, Crypto, Trump’s, Germany’s DAX, Australia’s, ”, Neil Newman, Hong, ” Daniel Murray Organizations: New, New York CNN —, Dow, Nasdaq, Republicans, Fed, JPMorgan, Democratic, CFRA Research, Gross, Treasury, Trump, Trump Media & Technology Group, CAC, Nikkei, Advisory, EFG Asset Management Locations: New York, Europe, Asia, China, Tokyo, Shanghai

HONG KONG — Scientists have discovered dinosaur fossils for the first time in Hong Kong. The bones were “scattered, fragmented, and weathered” when unearthed in a UNESCO-listed geopark in the Chinese territory’s Port Island, authorities said in a separate handout. “Experts infer that the dinosaur may have been buried by sand and gravel after its death, later exposed to the surface by floods, and then reburied at the discovery site,” it said. Hong Kong has previously found many plant and animal fossils, including ostracod and ammonite fossils from about 400 to 190 million years ago, but this is the first time dinosaur fossils have been unearthed in the city, the handout said. “The discovery of this dinosaur fossil is considered very lucky,” it said, noting that despite Hong Kong’s Jurassic to Cretaceous geological layers, which could contain dinosaur fossils, local researchers had not found any in more than a century of geological surveys.

Persons: Hong Kong Organizations: HONG KONG —, UNESCO Locations: HONG, Hong Kong, Port Island, Hong

☆ First-ever dinosaur fossils discovered in Hong Kong
▼ + stars: | 2024-10-24 | by ( Karina Tsui | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Dinosaur fossils have been discovered for the first time in Hong Kong, on a remote island in the financial capital’s countryside. Hong Kong’s Secretary of Development Bernadette Linn said that “the discovery is of great significance and provides new evidence for research on palaeoecology in Hong Kong,” the statement read. The dinosaur fossils will also be on public display at Hong Kong’s Heritage Discovery Centre from Friday onwards. Hong Kong's Antiquities and Monu/APExperts in paleontology say the landmark discovery is a big deal for Hong Kong, a city with a complex geological history and ever-changing weather patterns. The only “dinosaur-era things” Hong Kong has found so far are plants and fish, he said.

Persons: Bernadette Linn, ” Michael Pittman, Chinese University of Hong Kong, Pittman, ” Pittman Organizations: Hong Kong CNN, Hong Kong’s Agriculture, Fisheries, Conservation Department, Kong’s, Hong Kong’s, Hong Kong’s UNESCO Global, Hong Kong’s Heritage Discovery, Vertebrate Paleontology, Chinese Academy of Sciences, Kong's, AP, Chinese University of Hong, CNN Locations: Hong Kong, Port Island, Port, Hong Kong’s UNESCO, Hong Kong's Port Island, China, Yunnan, Jiangxi province, East Asia

☆ The world’s best bars for 2024 announced
▼ + stars: | 2024-10-23 | by ( Lilit Marcus | ) edition.cnn.com time to read: +4 min

CNN —A two-level speakeasy in Mexico City’s hip Colonia Juarez neighborhood has been proclaimed the world’s best bar. Handshake Speakeasy clinched the title last night in Madrid, where a splashy awards ceremony was held by the World’s 50 Best association. The World’s 50 Best voters are a mix of industry professionals, including bartenders and food and drink writers. Named after a classic Japanese hairstyle, it was ranked the Best Bar in the Middle East and Africa this year. I also know it’s impossible to have everyone deserving of a place, mentioned on this list, so just keep doing the great things you are doing!”The world’s 50 best bars for 2024

Persons: Speakeasy, Hong Kong’s, ”, Barcelona’s, Singapore’s, Mimi Kakushi, Iain McPherson, Edinburgh’s, . McPherson, “ Congrats Organizations: CNN, El, Pony, Travelers, Mexico City, ., Scotland Locations: Mexico, Colonia Juarez, Madrid, Hong Kong’s Italian, Asia, London, Athens, Tokyo, Sydney, Lima, Shinjuku, Singapore, Rosewood, Connaught, Mayfair, Dubai, East, Africa, New York City, Buenos Aires

☆ Harvey Weinstein diagnosed with cancer and LeBron could make NBA history with son Bronny: Morning Rundown
▼ + stars: | 2024-10-22 | by ( Elizabeth Robinson | Elizabeth Robinson Is A Newsletter Editor For Nbc News | Based In Los Angeles. | ) www.nbcnews.com time to read: +9 min

And LeBron James and his son Bronny could make NBA history tonight. LeBron James and son Bronny set to mark an NBA firstLeBron James talks to his son, Bronny James during the Los Angeles Lakers' preseason game against the Golden State Warriors on Oct. 18. While fans are in for months of exciting matchups, one of the season’s most anticipated moments could come tonight, during the Los Angeles Lakers’ game against the Minnesota Timberwolves. It’s possible LeBron James, entering his record-tying 22nd season, will play alongside his oldest son Bronny James — a first in NBA regular-season history. Read more about Bronny James’ potential NBA debut.

Persons: Harris, Harvey Weinstein, LeBron James, Bronny, Adek Berry, Xi Jinping, Kamala Harris, Joe Biden, ”, Brian Wong, Donald Trump, Jia Qingguo, Wong, Jia, Trump, ➡️ Trump, McDonald’s, ➡️, Usha Vance, JD Vance’s, Elon Musk, Tim Sheehy, hasn’t, Andrew Kelly, Weinstein, Bronny James, Ezra Shaw, Bronny James —, Andrew Greif, 🏀, ronny o, ake, ronny, akers, deb, Tex, sy, mak, Dod, gam, tod Organizations: U.S, Trump, Getty, University of Hong Kong’s, Contemporary, School of International Studies, Peking University, “, ➡️, Democratic, White, NBC, Republican, NBA, Los Angeles Lakers, Golden State Warriors, Minnesota Timberwolves, e, pla Locations: China, U.S, AFP, Beijing, Contemporary China, Taiwan, Trump, Montana, New York, York

☆ This large ‘ghost’ fish was just spotted for the first time in almost 20 years
▼ + stars: | 2024-10-21 | by ( Jessie Yeung | ) edition.cnn.com time to read: +6 min

CNN —When scientists heard reports that a large, mysterious fish had been caught in Cambodia in 2020, excitement stirred. Could this be the “Mekong Ghost,” they asked - an elusive fish that hadn’t been seen since 2005 and was feared extinct? But the fish, which can grow as large as 66 pounds, was sold before scientists could get a closer look. The giant salmon carp has been rediscovered in Cambodia. Chhut Chheana/Wonders of the Mekong“I’ve been looking for it since then, kind of fascinated by it because it’s a very unusual giant fish,” Hogan said.

Persons: ”, hadn’t, Zeb Hogan, Hogan, Chhut, –, ” Hogan, “, – I’ve, Bunyeth Chan, they’ve, Greta Thunberg, it’s Organizations: CNN, University of Nevada, “, Svay Rieng University, World Wildlife Fund, Nature Locations: Cambodia, Reno, Cambodian, Rivers ”, Thai, Svay Rieng, Laos, Thailand, Mekong, Nature Cambodia

☆ 9 monkeys who died in Hong Kong zoo had been infected with melioidosis, officials say
▼ + stars: | 2024-10-19 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

HONG KONG — Nine monkeys who died in Hong Kong’s oldest zoo in two days this week had been infected with an endemic disease, possibly after some digging work near their cages, officials said on Friday. Another possibility is that some infected monkeys had close contact with other monkeys, he said. “The incubation period for melioidosis in primates is about a week and this matched with the period after the soil digging work,” he said. Edwin Tsui, the controller of the center, said the incident only happened in a single zone and its impact on Hong Kong residents would be very low. The Hong Kong Zoological and Botanical Gardens — the oldest park in the former British colony — fully opened to the public in 1871.

Persons: Kevin Yeung, melioidosis, Yeung, “ We’re, ”, Edwin Tsui Organizations: Culture, Hong Kong Zoological, Botanical Gardens, International Union for Conservation of, Hong Kong’s Center for Health Protection, Leisure, Cultural Services Department, Agriculture, Fisheries, Conservation Department, Department of Health Locations: HONG KONG, Hong Kong’s, Hong, Hong Kong, Central

Matthew is serving a 7-year prison sentence in Singapore's Changi Prison for trafficking meth. Officials from the Singapore Prison Service say they encourage guards to think of themselves as “Captains of Life,” helping rehabilitate the prison population. Officials did not allow CNN to visit Institution A1, where more than 40 death row inmates await the same fate. Before each execution, authorities organize a professional photo shoot in which inmates trade their prison uniforms for civilian clothes. Hong Kong’s population is around 25% larger than Singapore’s, and it does not impose the death penalty for drug offenses.

Persons: Matthew, “, ”, Tom Booth, ” Shanmugam, Shanmugam, Rebecca Wright, ” Matthew, Steve Jobs, Nelson Mandela, Reuben Leong, –, Halinda binte Ismail, Halinda, Muhammed Izwan bin, ” Halinda, ’, Kirsten Han, Nazira, you’ve Organizations: Singapore CNN —, CNN, Changi, Singapore, Singapore’s, Home Affairs and Law, Visitors, Action Party, Home Affairs Ministry, Home Affairs, CNN Singapore, United Nations Office, Drugs, CNN Authorities, Singapore Prison Service Locations: Singapore, Canada, Portugal, Iran, North Korea, Saudi Arabia, Asia, Thailand, Laos, Myanmar, Scandinavian, mealtimes, United States, Australia, European, Hong Kong, British, –

But the measures that Beijing’s economic planning agency announced this week proved to be an anticlimax — the trillions of yuan that observers were hoping would be revealed never materialized. Beijing might even miss its annual growth target of 5% — a figure it often surpassed prior to the pandemic. But while Chinese officials project confidence, the markets and the country’s public seem less convinced. Its broader financial lethargy and this week’s market turmoil will hardly be welcomed by Beijing. Costphoto / NurPhoto via Getty ImagesDomestic stimulus aside, there have been outward signs that China’s economy is in trouble.

Persons: Xi Jinping, Long Wei, ”, Keyu Jin, Trump, Joe Biden, isn’t, Fu, Miao Yuqing, Miao, Alicia Garcia, Herrero, what’s, Zheng Shanjie, Yue Su, ” Su Organizations: Beijing, Traders, Investors, CSI, Getty Images, London School of Economics, The, Communist Party, U.S, AFP, Getty, “, Asia Pacific, ”, National, Reform, Economist Intelligence Unit Locations: BEIJING, Shanghai, Hong Kong, China, Beijing, Hangzhou, Long, Lianyungang, Natixis, Guizhou province, Washington

☆ China economy: Stock markets’ holiday optimism doesn’t spread to Chinese shoppers
▼ + stars: | 2024-10-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Global investors went wild during China’s just-concluded Golden Week holiday by snapping up “everything” related to the country. But that optimism didn’t extend to shoppers and travelers in the world’s second-largest economy itself. “Low tourism spending per head and subdued services prices highlighted still weak domestic demand and continued consumption downgrading,” they said. Goldman Sachs added that anecdotal evidence indicates hotel prices and airfares during the holiday were lower than year-ago levels. According to official data, cross-border travel rose by about 26% to 13 million trips, compared with last year’s holiday period.

Persons: Goldman Sachs, ”, Xi Jinping, David Tepper Organizations: Hong Kong CNN — Global, Citi, Management, CNBC, Hong, National Development, Reform Commission, Ministry of Finance Locations: China, Hong Kong, Shanghai, Shenzhen

☆ China economy: Government gives $28 billion to local governments as it vows to meet economic targets
▼ + stars: | 2024-10-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —China has set aside 200 billion yuan ($28 billion) for investment projects by local governments this year, as it promised to meet its own ambitious economic growth targets. China announced a 5% target growth rate in March, but a series of economic data over the summer has been so weak that economists were worried the goal might be missed. To help local governments struggling with mountains of debt, Beijing will provide 100 billion yuan ($14 billion) from the central government’s budget and an extra 100 billion yuan for investment projects, Zheng said. Nevertheless, investors were disappointed at the lack of details on new fiscal measures,” Fred Neumann, chief Asia economist for HSBC, told CNN. Fiscal measures, on the other hand, can include the use of taxation or other measures to impact public spending more directly.

Persons: ” Zheng Shanjie, Zheng, Xi Jinping, Fred Neumann, What’s, Jia Kang, “, … Jia Kang, –, Xi, ” Organizations: Hong Kong CNN, National Development, Reform Commission, HSBC, CNN, “, Ministry of Finance, Citi, People’s Bank of China Locations: China, Hong Kong, Beijing, Asia, Shanghai, Shenzhen

☆ Hong Kong plans to install thousands of surveillance cameras. Critics say it’s more proof the city is moving closer to China
▼ + stars: | 2024-10-05 | by ( Jessie Yeung | ) edition.cnn.com time to read: +11 min

Hong Kong CNN —Glance up while strolling through parts of downtown Hong Kong and, chances are, you’ll notice the glassy black lens of a surveillance camera trained on the city’s crowded streets. Hong Kong police had previously set a target of installing 2,000 new surveillance cameras this year, and potentially more than that each subsequent year. Facial recognition gates at the departure hall of Hong Kong International Airport. Tang and the Hong Kong police have repeatedly pointed to other jurisdictions, including Western democracies, that also make wide use of surveillance cameras for law enforcement. Protesters on the streets covered their faces with masks and goggles to prevent identification, at times smashing or covering security cameras.

Persons: Chris Tang, Budrul Chukrut, Tang, haven’t, Kong’s, ”, Samantha Hoffman, Hoffman, Joshua Wong –, –, “, Miguel Candela, Qilai Shen, ” Hoffman, Sing, Sing Tao, Steve Tsang, it’s, doesn’t, Normann Witzleb, Chan Long Hei, Witzleb, they’re, ” Witzleb Organizations: Hong Kong CNN —, Hong Kong, Hong Kong International Airport, Budrul, CNN, Hong Kong Police Force, National Bureau of Asian Research, New, London, Protesters, New Town, QR, New York Times, Bloomberg, Getty, SOAS China Institute, University of London, Chinese University of Hong Locations: Hong Kong, China, Hong, Singapore, United Kingdom, Tao, United States, Hong Kong Hong Kong, New York City, Beijing, Xinjiang, Bund, Shanghai, Sing Tao, Chinese University of Hong Kong, Victoria Harbour

☆ Analysis: China is celebrating National Day but with the economic downturn not everyone is in the party spirit
▼ + stars: | 2024-09-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

Tourists visit an ancient city gate in Beijing, China ahead of National Day. The stock market may be in the midst of one of its most remarkable turnarounds, but economists say reversing China’s economic downturn will require much more work. “Stimulating the stock market doesn’t really do much for the real economy in China. Very few people invest in the stock market compared to other major markets,” said Logan Wright, director of China markets research at Rhodium Group. Property woesThe outlook for the real estate industry, which makes up about a quarter of the Chinese economy and 70% of household wealth, remains dim.

Persons: Japan’s “, Xi Jinping, Xi, Xu Tianchen, Hong, David Tepper, ”, Logan Wright, Wright, There’s, ” Wright, “, hasn’t, Alfred Wu, Lee Organizations: Hong Kong CNN, Economist Intelligence Unit, Reuters, Shenzhen bourses, Securities Times, Tourists, Management, CNBC, Barclays, Communist Party, Lee Kuan Yew, of Public, National University of Singapore Locations: Hong Kong, China, People’s Republic, United States, Beijing, Shanghai, Shenzhen, Guangzhou, China’s, Xi’s

☆ China stocks see best week since 2008 on stimulus impact as most Asia markets rise
▼ + stars: | 2024-09-27 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +4 min

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank. The last time the index saw a bigger weekly gain was the week ending Nov. 14, 2008. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%, making it the index’s best week since February 1998, according to FactSet data. Tokyo’s headline inflation rate eased to 2.2%, down from August’s 2.6%. A slate of fresh U.S. economic data also supported the market’s gains, with weekly jobless claims falling more than expected, pointing to a steady labor market.

Persons: Hong, PBOC, Shigeru Ishiba, Sanae Takaichi, Korea’s Kospi, Australia’s, ’ Organizations: CSI, People’s Bank of China, Google, Shanghai Stock Exchange, Reuters, Japan’s Nikkei, of Japan, U.S ., Micron Technology, Nasdaq, Dow Jones Industrial Locations: China, Shanghai, Asia, Pacific, Tokyo, August’s, U.S

☆ French tycoon gains $17 billion from China’s economic stimulus push
▼ + stars: | 2024-09-27 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

But by the end of the day, his net worth jumped by $17 billion to $201 billion, the index reported, calling it his third-biggest daily increase ever. That market, which accounted for 31% of total revenue last year, is dominated by China. Hong Kong’s benchmark Hang Seng index has added just over 12% so far this week, while mainland China’s blue-chip CSI300 has gained more than 15%. However, experts urged investors to be cautious as officials must still come up with ways of stabilizing the property market, which once accounted for as much as 30% of economic activity. It began to cool in 2019 and fell into a deep trough about two years later, after a government-led clampdown on developers’ borrowing.

Persons: Bernard Arnault isn’t, Arnault, LVMH, “, Nomura, Xi Jinping, Pan Gongsheng, Pan Organizations: Hong Kong CNN, LVMH, Bloomberg, Markets, People’s Bank of China Locations: China, Hong Kong, LVMH, Paris, Asia, “ Beijing

Though government officials criticized the paper’s reporting, that year it was rated among the city’s most credible news outlets by Hong Kong residents, according to a survey by researchers at the Chinese University of Hong Kong. We are targeting national security offenses,” Steve Li, chief superintendent of the national security police, said at the time. Earlier this month, the Hong Kong Journalists Association, a local press group, said dozens of Hong Kong journalists had been targeted by a “systemic” online and offline harassment and intimidation campaign that was the largest in scale the group had ever seen. There have also been rising reports of non-local journalists being denied work visas or entry to Hong Kong, an international media hub. Hong Kong ranked 135th out of 180 countries and territories in Reporters Without Borders’ 2024 World Press Freedom Index, compared with 70th in 2018.

Persons: Chung Pui, Patrick Lam, Hong, ”, Chung, Lam, Edmond So, Hong Kong’s, Steve Li, “, ” Chung, shirk, Selina Cheng, John Lee, Aleksandra Bielakowska Organizations: European Union, Hong, Stand, China Morning Post, Reuters, Chinese University of Hong, police, Hong Kong Journalists Association, Hong Kong, China’s Foreign Ministry Locations: Hong Kong, U.S, British, Asia, Beijing, Chinese University of Hong Kong, Taiwan

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