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An aerial view shows the 39 buildings developed by China Evergrande Group that authorities have issued demolition order, on the man-made Ocean Flower Island in Danzhou, Hainan province, China January 6, 2022. "The (investigation into Hui) clearly shows that Chinese policymakers prioritise political considerations to economic ones in dealing with Evergrande," he said. Evergrande and China's housing authority did not immediately respond to requests for comment during the week long National Day holiday. Gavekal in its report said that at the very least, an orderly restructuring of Evergrande seemed increasingly hard to achieve. A liquidation petition filed against Evergrande is scheduled for hearing in a Hong Kong court on Oct 30.

Persons: Aly, Hui Ka Yan, Hui, Xin Sun, Evergrande, Christopher Beddor, Sandra Chow, bondholder, Antonio Fatas, Xie Yu, Clare Jim, Kane Wu, Sumeet Chatterjee, Lincoln Organizations: China Evergrande Group, REUTERS, China Evergrande, HK, lurched, East Asian, King's College London, SOE, Evergrande, Thomson Locations: Danzhou, Hainan province, China, HONG KONG, Beijing, homebuyers, Asia, Pacific, Gavekal, Hong Kong, Evergrande

☆ When it's OK to send food back to the kitchen—and when it's not, from an ex-restaurant manager
▼ + stars: | 2023-09-28 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

Here is when she says it's OK, and not OK, to send back food, and how to do it politely. It's OK to send back food when…If the food just doesn't "meet your expectations," it's understandable that you'd want to send it back. It's not OK to send back food when…If you don't like your food, your plate should represent that sentiment. "Don't send food back when you've already eaten at least half the plate," Sun says. Don't send food back when you've already eaten at least half the plate.

Persons: Sun, It's, you've, Sara Jane Ho, Ho Organizations: Harvard, Netflix, Sun Locations: Columbia , Missouri

China's top graft-busting watchdog earlier this year vowed to eliminate ideas of a Western-style "financial elite" and rectify the hedonism of excessive pursuit of "high-end taste". Industrial and Commercial Bank of China (ICBC) (601398.SS) and China Construction Bank Corp (CCB) (601939.SS) plan to cut some allowances of employees at the banks' headquarters from this year, two sources familiar with the matter said. Domestic rival China International Capital Corp (CICC) (3908.HK) last month cut this year's bonuses for investment bankers by 30%-50% from a year earlier, Reuters has reported, citing sources with knowledge of the matter. Besides anti-corruption crackdown and "common prosperity" drive, financial firms are also reining in the flashy lifestyle of their staff to make sure they are not violating the Communist Party's ideology, said industry officials. China's securities regulator and the central bank cut the budget allocation for employee salaries in 2023, following reforms ordered as part of a broader drive to reduce income disparity, Reuters reported last month.

Persons: Xi Jinping's, CCB, Xin Sun, Sun, Xie Yu, Julie Zhu, Selena Li, Ziyi Tang, Binbin Huang, Rong Ma, Sumeet Chatterjee, Lincoln Organizations: Industrial, Commercial Bank of China, China Construction Bank Corp, Securities, Reuters, China International Capital Corp, HK, Party, King's College London, Thomson Locations: China, HONG KONG, Beijing, Hong Kong, Shanghai

☆ Alibaba founder Jack Ma back in China after months abroad in sign Beijing may be warming to tech
▼ + stars: | 2023-03-27 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Alibaba founder Jack Ma has been seen in public in China after the first time in several months. The billionaire's reapprance may suggest Beijing is softening its stance toward the technology sector after an 18-month crackdown. Alibaba founder Jack Ma has been spotted in China after spending months abroad in a potential sign that Beijing is warming to technology giants again after a roughly 18-month crackdown on the sector. Ma has been traveling outside of China over the past few months and has been spotted in Spain, Japan and Thailand. "In so doing, the government intends to signal its warmth towards private sector and investors—if even Jack Ma is perceived as having been pardoned, everyone else should feel safe and welcome," Sun said.

☆ Xi's planned revival of Chinese financial watchdog exerts more party control
▼ + stars: | 2023-03-01 | by ( Joe Cash | ) www.reuters.com time to read: +4 min

BEIJING, March 1 (Reuters) - Plans by China's Communist Party to revive a high-level economic watchdog after two decades signal President Xi Jinping push to increase oversight of the financial sector, analysts say, part of a wider tightening of control by Xi and the party. "Through the CFWC, Xi and his allies could more rapidly roll out a reshuffle to replace the remaining legacy technocrats with people more loyal to them," he said. China's financial sector is overseen by the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, with the cabinet's Financial Stability and Development Committee at the top. Under the new proposed structure, the party would take on a direction-setting role for the economy and regulatory bodies. "But this could also lead to policies replacing some market forces, which may not be ideal for financial liberalisation", she said.

☆ From recovery to regulation: How China's tech giants could fare in 2023 after a bruising year
▼ + stars: | 2022-12-20 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +11 min

But investors are starting to feel slightly more optimistic toward Chinese tech giants in 2023. Jakub Porzycki | Nurphoto | Getty ImagesIt's been another rough year for China's tech stocks. Xin Sun King's College LondonHow the exit from zero-Covid is handled could ultimately determine the extent of the rebound for China tech. Since the start of 2021, the Hang Seng tech index in Hong Kong, which includes most of China's tech giants, has fallen more than 50%. Firstly, Chinese tech firms have been cutting costs and exiting non-core businesses in order to boost profitability.

☆ Alibaba, Tencent shares plummet 11% alongside China tech stocks as Xi tightens grip on power
▼ + stars: | 2022-10-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +3 min

Tech giants Alibaba and Tencent closed down more than 11% in Asia; search company Baidu was 12% lower while food delivery firm Meituan tanked more than 14%. That makes it unlikely that anyone would challenge any "policy mistakes" that Xi makes which could hamper growth of the tech sector, Xin Sun, senior lecturer in Chinese and East Asian business, at King's College London said. Under Xi's leadership, China has implemented a raft of policy that has tightened regulation on the tech sector in areas from data protection to governing the way in which algorithms can be used. "Tech stocks have never been the best friend of Xi and it's clear that the market thinks that purge will continue," Justin Tang, head of Asian research at United First Partners, told CNBC. As part of the leadership reshuffle in China, Li Qiang, party secretary of Shanghai is expected to be made premier next year.

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