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☆ Google sues crypto scammers for allegedly uploading fake apps to Android app store
▼ + stars: | 2024-04-04 | by ( Talia Kaplan | ) www.cnbc.com time to read: +2 min

Google filed a lawsuit on Thursday against a group of crypto scammers, alleging they defrauded more than 100,000 people across the globe by uploading fraudulent investment and crypto exchange apps to Google Play. Google says it's the first tech company to take action against crypto scammers, and is doing so as a way to set a legal precedent to establish protections for users. The lawsuit claims the defendants made "multiple misrepresentations to Google in order to upload their fraudulent apps to Google Play, including but not limited to misrepresentations about their identity, location, and the type and nature of the application being uploaded." Sun, Cheung and their agents designed the apps to appear legitimate, showing users that they were maintaining balances on the app and earning returns on their investments, the lawsuit said. However, users couldn't withdraw their investments or purported gains.

Persons: Halimah DeLaine Prado, Sun, Alphonse Sun, Hongnam Cheung, Zhang Hongnim, Stanford Fischer, Cheung, couldn't Organizations: Google, CNBC Crypto, of Locations: Southern, of New York, U.S, Canada

☆ Shanghai Industrial Investment: Another executive in China being investigated by corruption watchdog
▼ + stars: | 2023-11-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Another business leader in China is being probed by the country’s anti-graft watchdog, in a sign of an ongoing crackdown in the world’s second largest economy. Zhou Jun, president of state-owned Shanghai Industrial Investment, is under investigation by the Shanghai Municipal Commission for Discipline Inspection, a branch of the Central Commission for Discipline Inspection (CCDI), according to a CCDI statement Monday. Shanghai Industrial Investment’s business spans infrastructure, property and pharmaceuticals. Just this month, the CCDI said it was investigating Zhang Hongli, a former senior executive vice president at the Industrial and Commercial Bank of China. That was followed by a report by Chinese state-owned media outlet Cover News that tech entrepreneur Chen Shaojie had become unreachable, citing unconfirmed reports that he was being investigated.

Persons: Zhou Jun, CCDI, Zhou, ”, Zhang Hongli, Chen Shaojie, Chen, Tencent, Fred Hu Organizations: Hong Kong CNN, Shanghai Industrial Investment, Shanghai Municipal Commission, Central Commission, Shanghai Industrial, Industrial, Commercial Bank of China, CNN, International, Bloomberg, Primavera Capital Locations: China, Hong Kong, Shanghai

New York is the $1.35 trillion fund's only office outside mainland China besides Hong Kong. CIC asked Bai Xiaoqing, who was in charge of some of its private equity investments from Beijing, to move to New York for the North America head role, the sources said, requesting anonymity because the move has not been publicly announced. U.S. authorities have been especially suspicious of investments originating from entities close to China's communist government, like CIC. CIC is also a significant investor in U.S. private equity funds, as so-called alternative assets comprise almost half of its portfolio. One of its most prominent investments has been a $2.5 billion Goldman Sachs Group Inc (GS.N) private equity fund aimed at investing in companies that can benefit from closer U.S.-China ties.

Persons: Bai Xiaoqing, Zhang Hong, Bai, Zhang, Peng Chun, Larry Fink, Milken, Echo Wang, Roxanne Liu, Kane Wu, Greg Roumeliotis, Edwina Gibbs Organizations: China Investment Corp, North America, CIC, Foreign Investment, American Enterprise Institute, Public, Goldman Sachs Group Inc, China -, China - U.S . Industrial Cooperation Fund, Britain, BlackRock Inc, BlackRock, China's Ministry of Finance, Industrial, Commercial Bank of China, U.S . Treasury, Thomson Locations: North, New York, China, Hong Kong, Washington, Beijing, United States, U.S, China - U.S, BlackRock

☆ Detained, missing or under investigation: Business leaders in China face an ‘aggressive’ crackdown
▼ + stars: | 2023-11-10 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —Business leaders in China are under immense pressure, as the country’s leader Xi Jinping intensifies a regulatory crackdown on companies and strengthens its control of the economy. They face rising risks, including the possibility of police raids and detentions of staff, in the world’s second largest economy. A former banker, he has invested in a series of Chinese companies since 2000 and brought their shares to the public markets in mainland China and Hong Kong. No end in sightThe crackdown this year has spooked the business community in China, but it is not unfamiliar. Xi launched a sweeping regulatory crackdown on the private sector in 2020, which wiped trillions of dollars off the market value of Chinese companies worldwide.

Persons: Xi Jinping, ”, Doug Guthrie, ” Guthrie, Tencent, Chen, Zhao Bingxian, “ China’s Warren Buffett, Zhao, Guthrie, “, Zhou Zheng, Zhou, watchdogs, Zhang Hongli, Bao Fan, Bao, Xi, Kevin Frayer, Mauro Guillen, ” Guillen Organizations: Hong Kong CNN — Business, China Initiatives, Arizona State University’s Thunderbird School of Global Management, CNN, Cyberspace Administration of China, Wohua Pharmaceutical, Central Commission, National Supervisory Commission, COFCO, Industrial, Commercial Bank of, Wharton School, University of Pennsylvania Locations: China, Hong Kong, Communist, Beijing, Arizona, Shenzhen, “ Beijing, DouYu, Shandong, Commercial Bank of China

☆ DouYu CEO Chen Shaojie: Yet another CEO is missing in China
▼ + stars: | 2023-11-07 | by ( Manav Tanneeru | Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —The CEO of a Chinese live-streaming service backed by Tencent has become the latest high-flying executive to fall mysteriously silent in the world’s second largest economy. According to a Monday report from the Cover News, a state-owned media outlet, DouYu (DOYU) CEO Chen Shaojie has been unreachable in recent days. It also cited unconfirmed reports that Chen was being investigated and had been missing for nearly three weeks. DouYu listed on the Nasdaq in 2019, where it raised about $775 million in one of the largest share offerings by a Chinese company on Wall Street that year. Chen’s unexplained absence comes as China continues an anti-corruption crackdown that has ensnared top executives, particularly in the finance and tech sectors.

Persons: Tencent, Chen Shaojie, Chen, DouYu, Zhang Hongli, Zhang, Bao Fan, Bao, haven’t, Xu Jiayin Organizations: New Delhi CNN, CNN, Nasdaq, Wall, Industrial, Commercial Bank of China, Central Commission, Inspection, Evergrande Locations: China, New Delhi, Hong Kong

☆ ICBC ex-VP being probed by China’s anti-graft body
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Zhang Hongli, a former senior executive at Industrial and Commercial Bank of China (ICBC), is being probed by China’s top anti-corruption watchdog, in a sign of a continuing crackdown in the country’s financial sector. State-owned ICBC is one of China’s “Big Four” banks and the world’s largest lender by assets, according to S&P Global. Prior to joining ICBC, Zhang worked at Deutsche Bank and Goldman Sachs, where he held senior management roles. They include three top executives at the highest ranks of China’s financial world, who have either been probed or charged, according to the commission. In October, Li was expelled from the Communist Party and arrested for allegedly taking bribes, according to Xinhua.

Persons: Hong Kong CNN — Zhang Hongli, Zhang, Goldman Sachs, Bao Fan, Bao, Xi, Li Xiaopeng, —, Li, Liu Liange, Liu, “, Wang Bin, Wang Organizations: Hong Kong CNN, Industrial, Commercial Bank of China, Central Commission, P, Deutsche Bank, ICBC’s Communist Party, Xinhua, CNN, China, Communist Party, of China, China Life Insurance Locations: China, Hong Kong, ICBC, Xinhua

☆ Ex-VP of China's ICBC being probed by anti-graft body
▼ + stars: | 2023-11-04 | by ( ) www.reuters.com time to read: 1 min

Senior Executive Vice President of the Industrial and Commercial Bank of China (ICBC) Zhang Hongli attends a meeting of Group of 20 leading economies' finance ministers and central bankers in Mexico City February 24, 2012. REUTERS/Tomas Bravo/ File Photo Acquire Licensing RightsSHANGHAI, Nov 4 (Reuters) - The former vice president of the Industrial and Commercial Bank of China (ICBC) (601398.SS), Zhang Hongli, is being probed by the anti-graft body, the Central Commission for Discipline Inspection said on Saturday. Reporting by Shanghai Newsroom; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Zhang Hongli, Tomas Bravo, William Mallard Organizations: Industrial, Commercial Bank of China, REUTERS, Rights, Central Commission, Shanghai, Thomson Locations: Mexico City

☆ Analysis: Struggling China local governments find a fundraising loophole, lifeline in "pearl bonds"
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +5 min

SHANGHAI/HONG KONG, May 31 (Reuters) - China's cash-strapped local governments have suddenly rushed to an unusual corner of the debt market in Shanghai where ambiguous rules offer ways to skirt restrictions on onshore borrowing. LGFVs accounted for about two-thirds of the issuers and 60% of the debt sold this year nation-wide, according to Reuters' calculations. Among all the newly-issued FTZ bonds this year, 55, or two-thirds of all 82 issuers, were LGFVs, according to Reuters' calculations. The "pearl" or free trade zone (FTZ) bonds have been around since 2016 but are only now becoming popular as tighter central government supervision on LGFV debts starts to bite. AMBIGUOUS POSITIONING"Pearl bonds" differ from other offshore bonds as trades are cleared by the state-owned China Central Depository & Clearing Co, rather than a global clearing house.

Persons: Shi Xiaoshan, Fitch, Royston Quek, Tim Fang, Pearl, Zhang Hong, Georgina Lee, Tom Westbrook, Kim Coghill Organizations: U.S, Haitong International Securities, China Central Depository, Industrial, Group, Credit Agricole CIB, Shanghai Pudong Development Bank, Bank of Communications, Pudong New, Financial, Reform Commission, Reuters, The, Administration of Foreign Exchange, Shanghai, Thomson Locations: SHANGHAI, HONG KONG, Shanghai, Beijing, U.S . Federal, Hong Kong, China, Zhejiang, Pudong, SINGAPORE

☆ China slams U.S. sanctions over alleged rights abuses in Tibet
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 12 (Reuters) - The Chinese foreign ministry said on Monday that U.S. sanctions on two senior Chinese officials over alleged human rights abuses in Tibet were illegal and seriously harmed Sino-U.S.-relations. The U.S. Treasury Department said on Friday it imposed sanctions on Wu Yingjie, the Chinese Communist Party chief in Tibet between 2016 and 2021, and Zhang Hongbo, a senior public security official in the region. China has been accused of harsh policies to quell ethnic dissent and control religious activities in Tibet -- accusations that China rejects. Reporting by Martin Quin Pollard; writing by Ryan Woo; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

☆ Hu Chunhua: From rural roots to candidate for China premiership
▼ + stars: | 2022-10-11 | by ( Dominique Patton | ) www.reuters.com time to read: +4 min

"For his policy record, I would pick Hu," said Yu Jie, senior research fellow on China at Chatham House. Hu is depicted in state media as a man of action, sometimes shown checking on planting progress in far-flung provinces. YOUTH LEAGUE ROOTS, POVERTY FIGHTERHu got his start in the party training ground of the Communist Youth League. Despite his Youth League roots - the faction was seen to be a rival to Xi's - Hu has proved his loyalty to Xi, promoting many of his initiatives in rural areas, including the campaign to eradicate poverty. Hu also wrote a paean to Xi's "historic achievements" on rural issues published in the party's official People's Daily in July.

☆ Un alpinist chinez a devenit primul nevăzător din Asia care a cucerit Everestul
▼ + stars: | 2021-05-30 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: 1 min

Un alpinist chinez a devenit primul nevăzător din Asia care a cucerit Everestul. Zhang Hong, în vârstă de 46 de ani, a ajuns în vârful muntelui însoţit de trei ghizi. El a declarat că s-a inspirat din experienţa unui alpinist american orb care a escaladat Everestul în 2001. După ce şi-a atins scopul, chinezul a încurajat oamenii să-şi îndeplinească visurile în pofida oricăror impedimente. El a devenit al treilea nevăzător care a cucerit Everestul.

Persons: Zhang Hong, chinezul, El Locations: chinez, Asia, Everestul, american

☆ Primul alpinist nevăzător chinez a cucerit vârful Everest: „Am fost destul de speriat, nu-mi pot găsi mereu echilibrul”
▼ + stars: | 2021-05-30 | by ( ) www.jurnal.md time to read: +1 min

Sursa foto: Digi24Primul alpinist nevăzător chinez a cucerit vârful Everest: „Am fost destul de speriat, nu-mi pot găsi mereu echilibrul”Alpinistul chinez Zhang Hong, în vârstă de 46 de ani, a devenit primul nevăzător din Asia şi a treia persoană fără vedere din lume care a reuşit să escaladeze vârful Everest, transmite duminică Reuters, citat de Agerpres și Digi24. Alpinistul nevăzător a reuşit să cucerească vârful de 8.849 de metri în data de 24 mai, însoţit de trei ghizi, şi a revenit joi la tabăra principală, de la baza muntelui. El a fost inspirat de reuşita lui Erik Weihenmayer, un alipnist american nevăzător care a escaladat Everestul în 2001 şi a început să se pregătească pentru ascensiune sub îndrumarea prietenului său ghid montan Qiang Zi. Nepalul a redeschis accesul pentru alpiniştii străini pe muntele Everest în luna aprilie, după ce a fost restricţionat în cursul anului trecut din cauza pandemiei de COVID-19. „Am fost destul de speriat pentru că nu pot vedea pe unde calc şi din această cauză nu-mi pot găsi mereu echilibrul şi uneori mai cad”, povesteşte Zhang.

Persons: Zhang Hong, Zhang, Reuters, Alpinistul, Erik Weihenmayer, Nepalul Locations: Asia, Chongqing, Chinei

☆ Un alpinist nevăzător a cucerit Everestul. „Am fost destul de speriat, nu-mi pot găsi mereu echilibrul şi uneori cad”
▼ + stars: | 2021-05-30 | by ( Onixmedia Srl | ) diez.md time to read: +2 min

Un alpinist nevăzător a cucerit Everestul. Zhang Hong a escaladat cel mai înalt vârf al lumii dinspre partea nepaleză. El a fost inspirat de reuşita lui Erik Weihenmayer, un alipnist american nevăzător care a escaladat Everestul în 2001 şi a început să se pregătească pentru ascensiune sub îndrumarea prietenului său ghid montan Qiang Zi. Nepalul a redeschis accesul pentru alpiniştii străini pe muntele Everest în luna aprilie, după ce a fost restricţionat în cursul anului trecut din cauza pandemiei de COVID-19. „Am fost destul de speriat pentru că nu pot vedea pe unde calc şi din această cauză nu-mi pot găsi mereu echilibrul şi uneori mai cad”, povesteşte Zhang.

Persons: nevăzător, Zhang Hong, Zhang, Reuters, Erik Weihenmayer, Nepalul, Olga Țăpordei Organizations: Everest, Digi, Alpinistul Locations: Everestul, Asia, Chongqing, Chinei, Moldova

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