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☆ Major companies in China are setting up their own volunteer armies
▼ + stars: | 2024-02-21 | by ( Laura He | ) edition.cnn.com time to read: +12 min

Hong Kong CNN —Chinese companies are doing something rarely seen since the 1970s: setting up their own volunteer armies. According to China’s Military Service Law, male militia members should be 18 to 35 years old. It was latest in a slew of militias established by major Chinese companies in the past year. After 1949, when the party took control of mainland China, the units were eventually embedded into governments, schools and companies. This can, in the long run, save the PLA resources by delegating some duties to militia forces to care for,” Heath said.

Persons: Xi, ”, Neil Thomas, Nuo Nuo, Huang Zhiqiang, Qilai Shen, Liu Jie, Mao Zedong, Mao, Timothy Heath, homebuyers, Heath, ” Heath, Willy Lam, Sam Yeh, ” Lam, China’s Organizations: Hong Kong CNN, CNN, People’s Armed Forces Departments, America’s National Guard, Communist, Asia Society, Center for, Communist Party, China Labour Bulletin, Foxconn, Yili, Armed Forces Department, China’s Military Service Law, People’s Liberation Army, PLA, government’s Communist Party, Inner Mongolia Autonomous, Bloomberg, Getty, Shanghai Municipal Investment Group, Construction Investment, Development, Defense Ministry, People’s Armed Police, Armed, Rand Corporation, Jamestown Foundation, Party, Taiwan Locations: China, Hong Kong, Center for China, Beijing, Zhengzhou, Henan, Hohhot, Inner Mongolia, Yili, Shanghai, Mengniu, Nantong city, Jiangsu, Huizhou city, Guangdong, Wuhan, Hubei province, People’s Republic, United States, Taiwan, Fangchenggang City, Guangxi, ”, PLA, Taiwan's, AFP

The logo of Tyson Foods is seen in Davos, Switzerland, May 22, 2022. While it was not immediately clear what valuation Tyson Foods is seeking for the China poultry business, it has annual sales of about $1.1 billion, one of the people said. Springdale, Arkansas-based Tyson Foods and Goldman Sachs declined to comment. Calls to Tyson Foods' China headquarters in Shanghai went unanswered. In the food industry, U.S. agricultural giant Cargill struck a deal in May to sell its China poultry business to private equity firm DCP Capital for an undisclosed price.

Persons: Arnd, Goldman Sachs, Tyson, Cargill, Hope Liuhe, Kane Wu, Abigail Summerville, Roxanne Liu, Tom Polansek, Jamie Freed Organizations: Tyson Foods, REUTERS, HONG KONG, Goldman, Capital, Reckitt, Primavera Capital Group, Industrial, Thomson Locations: Davos, Switzerland, HONG, China, Springdale , Arkansas, Shanghai, Russia, Ukraine, Mongolia, Nantong, Xiaogan, Hong Kong, New York, Beijing, Chicago

☆ Chinese property stocks surge after central bank vows more support for private businesses
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Other attendees included diary giant Yili Group, aluminum products manufacturer China Hongqiao Group and electrical components manufacturer Chint Group . At the symposium, PBOC governor Pan Gongsheng said the central bank will promote the expansion of private business bond financing support instruments, and strengthen the financial market to support their development. This is the latest move by the central government to boost market confidence and vow support for private businesses and the real estate sector amid signs of slowing growth. watch nowAt the Politburo meeting on July 24, the top leadership promised to "adjust and optimize policies" to boost the beleaguered property sector, as well as introduce measures to promote private investment. Separately, China's state planner, the National Development and Reform Commission, also released a 17-point statement, and pledged to encourage more private capital into the construction of major national projects.

Persons: Qilai Shen, Pan Gongsheng Organizations: Bloomberg, Getty, China Hongqiao Group, Chint, National Development, Reform Commission, Communist Party Locations: Beijing, China

☆ China's central bank to guide more financial resources to support private sector
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Jason Lee/File PhotoBEIJING, Aug 3 (Reuters) - China's central bank governor pledged on Thursday to guide more financial resources towards the private economy, suggesting refreshed urgency from Beijing to bolster the confidence among private firms as economic momentum weakens. During a meeting on Thursday with at least eight private firms from sectors including property, aluminium and agribusiness, the People's Bank of China (PBOC) Governor Pan Gongsheng said the bank would roll out guidelines to support private firms. Responding to some firms' requests of broadening bond financing channels, Pan said the central bank would expand debt financing tools for them. "Financial institutions should actively create a positive atmosphere to support the development and growth of private firms ... and increase willingness to lend." To revive confidence among private businesses, head of the economic planner also held several meetings with private firms last month to learn about their operation difficulties.

Persons: Pan, Jason Lee, Pan Gongsheng, Ellen Zhang, Ryan Woo, Ella Cao, Jon Boyle, Alison Williams Organizations: People's Bank of China, Congress, REUTERS, HK, China Hongqiao, Chint, Thomson Locations: Beijing China, BEIJING, Beijing, China, Hope

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

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