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Top related persons:
Li Zhen - 3 — - 1 crackdowns - 1 China's superrich - 1 Zhang Yiming - 1 Bytedance - 1 Yiming - 1 Zhong Shanshan - 1
Top related locs:
China Michigan United States North America Taiwan Greater China Ukraine Washington , U.S
Top related orgs:
Gotion - 3 Thomson - 3 Service - 1 King's College London - 1 Ant Group - 1 & Partners - 1 Bloomberg - 1 New York University Shanghai - 1

Search resuls for: "Li Zhen"


6 mentions found


☆ China lost 36% of its billionaires to years of economic troubles and crackdowns
  + stars: | 2024-10-30 | by ( Hannah Abraham | ) www.businessinsider.com   time to read: +7 min
According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021. Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total. It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher. AdvertisementThat led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.
Persons: —, crackdowns, China's superrich, Zhang Yiming, Bytedance, Yiming, Zhong Shanshan, Rupert Hoogewerf, Robin Zeng, Li, Kerry Brown, Xi, Jack Ma, Alibaba, Brown, Joel Gallo, China shouldn't, it's Organizations: Service, Reuters, King's College London, Ant Group, & Partners, Bloomberg, New York University Shanghai, Communist Locations: China, Taiwan, Greater China
☆ US Republicans push for security review of China-linked battery company
  + stars: | 2023-09-20 | by ( ) www.reuters.com   time to read: +3 min
REUTERS/Amanda Andrade Rhoades/File Photo Acquire Licensing RightsWASHINGTON, Sept 20 (Reuters) - Republican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway. The move is the latest push by Republicans to question Chinese-linked EV battery producers looking to set up shop in the U.S., possibly with access to taxpayer funding. The governors of Michigan and Illinois have announced plans for Gotion to open EV plants in their states, facilities expected to create thousands of jobs. Those include the company's founder Li Zhen and his son whom, they said, were members of CCP organizations. The Treasury Department, Gotion and Gotion High-Tech did not respond immediately to requests for comment.
Persons: Marco Rubio, Amanda Andrade Rhoades, Janet Yellen, Li Zhen, Joe Biden, Tesla, Ford, Michael Martina, Timothy Gardner Organizations: Capitol, REUTERS, Rights, Republican, Wednesday, U.S . Treasury Department, Gotion Inc, Foreign Investment, China's Communist Party, Germany's Volkswagen AG, Gotion, Tech, CCP, Treasury Department, Republicans, CATL, Thomson Locations: Ukraine, Washington , U.S, China, Michigan, Illinois, U.S, United States
☆ China's Gotion to set up a $2 billion lithium battery plant in Illinois
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +1 min
Companies Gotion High tech Co Ltd FollowSept 8 (Reuters) - China's Gotion High-tech Co Ltd (002074.SZ) will set up a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, Illinois that would create about 2,600 new jobs, the state governor's office said on Friday. "Gotion's battery technology will help to boost e-mobility in North America and the economic and trade exchanges between China and the United States," said Gotion chairman Li Zhen. Gotion will be eligible to receive tax benefits totaling $213 million over 30 years and also get $125 million in capital funding from the U.S. state's Reimagining Energy and Vehicles incentive package. Once completed, the facility in Manteno is expected to produce 10 GWh of lithium-ion battery packs and 40 GWh of lithium-ion battery cells, according to the statement. Reporting by Pratyush Thakur in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
Persons: Li Zhen, Pratyush Thakur, Shailesh Organizations: Gotion, Co, Global EV, state's Reimagining Energy, Thomson Locations: Manteno , Illinois, North America, China, United States, Manteno, Bengaluru
☆ Exclusive: China's Gotion buys 25% stake in Slovak EV battery startup Inobat
  + stars: | 2023-09-01 | by ( Nick Carey | ) www.reuters.com   time to read: +2 min
LONDON, Sept 1 (Reuters) - Chinese battery maker Gotion High Tech (002074.SZ) is buying a 25% stake in Slovak battery maker Inobat and will provide supply chain and technology support as the startup scales up production of electric vehicle batteries, the companies said on Thursday. Inobat said the investment will provide it access to Gotion's research and development, as well as to the Chinese battery maker's raw materials including lithium, and to cell production and recycling capabilities. Gotion said last year that it plans to locate one third of its production capacity outside China by 2025 to meet growing demand from EV makers and energy storage clients. The Chinese battery maker is building a $2.36 billion plant in Michigan and is looking at setting up an EV battery plant in Morocco with a potential investment of up to $6.3 billion. Inobat has signed declarations of intent with the governments of Spain and Serbia to build EV battery plants, though those agreements are not final.
Persons: Inobat, Li Zhen, Northvolt, Gotion, Nick Carey, Simon Cameron, Moore Organizations: Gotion High Tech, Gotion, Volkswagen, Volvo, Reuters, BlackRock, EV, Thomson Locations: Europe, North America, China, Michigan, Morocco, Spain, Serbia
☆ U.S. Sanctions China-Based Vessels Over Alleged Illegal Fishing Practices
  + stars: | 2022-12-09 | by ( Dylan Tokar | ) www.wsj.com   time to read: +1 min
U.S. officials said they were imposing a swath of sanctions targeting corruption and human rights abuses, including on a network of China-based fishing vessels that they said were involved in alleged illegal fishing throughout the Pacific. Newsletter Sign-up WSJ | Risk and Compliance Journal Our Morning Risk Report features insights and news on governance, risk and compliance. PREVIEWThe sanctions targeting the alleged illegal fishing activity, announced Friday morning, cover two Chinese nationals, Li Zhenyu and Xinrong Zhuo, along with eight entities and more than 150 China-flagged fishing vessels. The action builds on a memo issued by President Biden in June directing U.S. government agencies to take steps to address problems posed by harmful fishing practices. Write to Dylan Tokar at dylan.tokar@wsj.comCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.
☆ U.S. sanctions people, entities over China-based illegal fishing
  + stars: | 2022-12-09 | by ( ) www.reuters.com   time to read: +1 min
WASHINGTON, Dec 9 (Reuters) - The United States on Friday imposed sanctions on people and companies, including Nasdaq-listed Pingtan Marine Enterprises, Ltd., over what Washington says are human rights abuses linked to China-based illegal distant water fishing. The U.S. Treasury Department imposed sanctions on Li Zhenyu and Xinrong Zhuo, both Chinese nationals, and 10 entities they control, including Dalian Ocean Fishing Co., Ltd. and Pingtan Marine Enterprise, Ltd. (PME), the U.S. Office of Foreign Assets Control (OFAC) said in a statement. It also targeted 157 China-flagged fishing vessels linked to those entities, it said. The designation of PME marks the first time the U.S. has imposed sanctions on an entity listed on the NASDAQ stock exchange. Reporting by Daphne Psaledakis and Michael Martina; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.
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