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☆ Mike Lindell is hawking Wi-Fi filters called 'WMDs' that he claims will protect you — and voting machines — from the evil Chinese Communist Party
▼ + stars: | 2023-08-18 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Mike Lindell says his new Wi-Fi monitoring device can protect voting machines against hacks. Lindell claimed the device could even filter out the evil Chinese Communist Party. Lindell claimed in an interview on Bannon's podcast that the monitoring device doubled up as a filter that could protect voting machines from hackers. Lindell told conference attendees that his plan was to fly the device near polling stations, with drones. Lindell told the audience.

Persons: Mike Lindell, Lindell, Steve Bannon's, Donald Trump's, he's, I've Organizations: Chinese Communist Party, Service, CCP, Lindell, Voting Systems Locations: Missouri, Wall, Silicon, Springfield , Missouri, Minnesota

☆ Top Republican China hawk says White House investment restrictions fall short
▼ + stars: | 2023-08-18 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON — A leading House Republican voice on the national security threat posed by China said the White House's plan to restrict outbound investment in the Chinese military and defense companies falls short of addressing the real problem. The Wisconsin Republican is the chairman of the House Select Committee on the Chinese Communist Party and a leading voice in the House on the risks of U.S. investment in China. The House CCP Committee has flagged around 50 firms, including machinery, aircraft and technology firms and created a de facto blacklist. Yellen has already signaled that she intends to keep any investment restrictions "narrowly targeted" to protect U.S. national security, and insists they are not intended to weaken China's economy. "Even though these policies may have economic impacts, they are driven by straightforward national security considerations," she said in an April speech.

Persons: Mike Gallagher, WASHINGTON —, Joe Biden's, Gallagher, Janet Yellen, Yellen Organizations: U.S, Capitol, Republican, Treasury Department, Wisconsin Republican, Chinese Communist Party, CCP, The, House CCP, BlackRock, CNBC, White House Locations: China, United States, Wisconsin, Mexico, Canada, BlackRock

☆ China - Latest News, Investigations and Analysis
▼ + stars: | 2023-08-17 | by ( ) www.wsj.com time to read: 1 min

Robert F. Kennedy Jr.’s Unsubstantiated Bioweapon Claims Find Big Audience in ChinaChinese media selectively picks up comments to reinforce the Communist Party’s talking points, with the U.S. presidential race playing out amid high tensions between Washington and Beijing.

Persons: Robert F, Kennedy Jr, ’ Organizations: U.S Locations: China, Washington, Beijing

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 17 (Reuters) - A U.S. judge in Florida on Thursday declined to block the state's law barring citizens of China and other "countries of concern" from owning homes or land in the state. Winsor, an appointee of Republican then-President Donald Trump, denied a bid by four Chinese nationals to block the law pending the outcome of their lawsuit filed in May. Florida's law prohibits individuals who are "domiciled" in China and are not U.S. citizens or green card holders from purchasing buildings or land in the state. The ACLU claims the law violates the U.S. Constitution's guarantees of equal protection and due process and the federal Fair Housing Act (FHA), which prohibits housing discrimination based on race and national origin. The Biden administration filed a brief last month agreeing that the Florida law violates the FHA.

Persons: Dado Ruvic, District Judge Allen Winsor, Winsor, Donald Trump, Ashley Gorski, general's, Ron DeSantis, Biden, Daniel Wiessner, Alexia Garamfalvi Organizations: REUTERS, District, Republican, American Civil Liberties Union, U.S, Chinese Communist Party, ACLU, Housing, Thomson Locations: U.S, Florida, China, Tallahassee , Florida, Cuba, Venezuela, Syria, Iran, Russia, North Korea, Albany , New York

☆ Country Garden: How bad is China's property crisis?
▼ + stars: | 2023-08-17 | by ( Clare Jim | ) www.reuters.com time to read: +5 min

HONG KONG, Aug 17 (Reuters) - The debt crisis at Country Garden (2007.HK), China's largest property developer before this year and once considered a financially sound company, has triggered fresh contagion fears just two years after China Evergrande Group (3333.HK) defaulted. S&P Global Rating said on Wednesday it could adjust its forecast for property sales to a "descending staircase" figure from an "L" shaped recovery, if Country Garden officially defaulted. However, it emerged when the property market and the economy are in much worse shape. Evergrande was already insolvent at the time of default, but Country Garden currently still has more assets than liabilities. Analysts warn that Country Garden could become insolvent if it had to write off large inventories, and run into negative equity if its asset values dropped over time.

Persons: Evergrande, Moody's, Lehman, Clare Jim, Sumeet Chatterjee, Stephen Coates Organizations: HK, China Evergrande, Local, Beijing, International, International Monetary, WILL, Communist Party, Thomson Locations: HONG KONG, Evergrande, China, Beijing

☆ China's economic model is 'washed up on the beach,' says veteran investor David Roche
▼ + stars: | 2023-08-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

China's economic model is "washed up on the beach" and "not going to take off again," which will have a big impact on global markets, says veteran investor David Roche. Despite a remarkable rally in stock markets so far this year, concerns have been growing over the potential ripple effect of a prolonged slowdown in China. China has experienced meteoric growth that outpaced developed countries over the past two decades, overtaking Japan as the world's second-largest economy. However, many economists now see a longer structural downward trend amid diminishing contributions from property and manufacturing — the traditional pillars of China's rapid economic expansion. "The Chinese model is clearly washed up on the beach with a huge number of legacy holes in it, and it's not going to take off again," Roche said.

Persons: David Roche, Roche, CNBC's, it's, " Roche Organizations: People's Bank of, Communist Party, World Bank, Independent, Embassy Locations: Beijing, China, People's Bank of China, Japan, London

☆ Foreign investors are giving up on China as capital flows reverse
▼ + stars: | 2023-08-17 | by ( Jason Ma | ) www.businessinsider.com time to read: +4 min

Foreign investors are giving up on China as the country's post-COVID rebound fizzles. During that span, foreign investors sold 46.2 billion yuan of mainland Chinese stocks. Meanwhile, foreign institutional investors shed 37 billion yuan worth of Chinese bonds in July, according to data out Wednesday from China's foreign exchange regulator. According to Reuters, $1.71 billion worth of mainland shares were sold by foreigners in May, outpacing April's $659 million withdrawal. In addition to the consumer and manufacturing sectors, the real estate market — which serves as a key store of wealth in China's economy — has also been getting worse.

Persons: outpacing, bullish, —, China's Organizations: Service, Kong's Stock Connect, Communist Party's, Financial Times, Bloomberg, Reuters Locations: China, Shanghai, Shenzhen, Wall, Silicon, Beijing

The one unanimous conclusion they came to was that Beijing wants a greater state presence in these sectors. Kroeber says the crackdowns are about "defining what the state does, what the private sector does, and creating a more limited sandbox for the private sector to play in." That has left investors now picking the state over the private sector. The CCP's July Politburo meeting reinforced the message, with the top policymaking body pledging to put a floor under the property sector, help indebted local governments heal and boost consumer demand. Huang Yan, general manager of private fund manager Shanghai QiuYang Capital Co, said Beijing will crack down on any sector seen as increasing people's economic burden.

Persons: Aly, Jack, Arthur Kroeber, Kroeber, Zhang Kexing, Xi Jinping, Mao Zedong's, Thomas Masi, Masi, Xi, Nuno Fernandes, Fernandes, Huang Yan, Huang, Kumar Pandit, Pandit, Jason Xue, Ankur Banerjee, Vidya Ranganathan, Sam Holmes Organizations: REUTERS, Rights, Ant Group, CSI Medical Services, Beijing Tongrentang, HK, Poly, Beijing Gelei Asset Management, Communist Party's, Investors, Mao Zedong's Marxist, Boston, K Investment Management, Shanghai QiuYang, Somerset Capital, Thomson Locations: Shanghai, China, Rights SHANGHAI, HONGKONG, Beijing, New York, London, Singapore

U.S. President Joe Biden hopes to cement those ties with a summit at Camp David, the storied presidential retreat in Maryland's Catoctin Mountains, this Friday. To be sure, previous efforts to build closer ties between South Korea and Japan have stumbled. China blasted the move, seizing on a chance to embarrass Tokyo ahead of the Camp David summit. No specific action by the trio in Camp David is expected to sharply escalate rhetoric with Beijing. Just last month, Kim hosted Russia's defense minister and a Chinese Communist Party Politburo member in Pyongyang for an event celebrating the end of the 1950-1953 war between North and South Korea.

Persons: Joe Biden, Kevin Lamarque, Yoon Suk, didn't, Yoon, Biden, Camp David, Dennis Wilder, George W, Bush, Kishida, Kim Tae, hyo, David, Donald Trump, Kurt Campbell, East Asia Mira Rapp, Hooper, Xi Jinping, Kim Jong, Kim, Trevor Hunnicutt, David Brunnstrom, Hyonhee Shin, Josh Smith, Tim Kelly, Sakura Murakami, Don Durfee, Alistair Bell Organizations: White, REUTERS, South, Camp, Georgetown University, Republican, East Asia, NATO, Chinese Communist Party Politburo, Thomson Locations: Washington , U.S, WASHINGTON, SEOUL, TOKYO, Japan, South Korean, North Korea, Seoul, Tokyo, East Asia, Taiwan, U.S, Camp, Maryland's Catoctin, South Korea, Korean, China, Korea, Washington, Pacific, Beijing, Russia, Pyongyang, North

Economists say China needs measures to boost consumption and business confidence, such as tax cuts or government-funded consumption vouchers, but add that unlike previous slowdowns, there is no quick fix. Wang's comments came after weak economic activity data on Tuesday fuelled concern that China is heading for a deeper, longer slowdown. The private sector accounts for 60% of gross domestic product and 80% of urban employment, officials say. But there is a growing disconnect between officials calling for investment and a sweeping national security crackdown that is denting business confidence, diplomats in China say. One example was a recent anti-espionage law, accompanied by raids on some foreign consultancy firms, that sent waves of anxiety through the foreign business community.

Persons: Xi Jinping, Tingshu Wang, Joe Biden, Biden, Xi, Christopher Beddor, Wang Wenbin, Wang's, Lee Smith, Baker Donelson, Xu Chenggang, Xu, Laurie Chen, Yew Lun Tian, Martin Quin Pollard, John Geddie, Robert Birsel Organizations: REUTERS, Rights, GAP, State, U.S . Department of Commerce, Stanford University's Center, Chinese Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, U.S, loggerheads, Taiwan

☆ China's defense minister Li Shangfu warns against 'playing with fire' on Taiwan during Russia meeting
▼ + stars: | 2023-08-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +5 min

CNN —China’s defense minister Li Shangfu on Tuesday warned against “playing with fire” when it comes to Taiwan in a veiled jab at the United States as he addressed a security conference in Russia. Speaking at the Moscow Conference on International Security, Li said attempts to “use Taiwan to contain China,” would “surely end in failure,” according to state-run news agency Xinhua. China’s ruling Communist Party claims the self-governing democracy of Taiwan and has vowed to take control of it, by force if necessary. The visit is Li’s second to Russia since assuming his role as defense chief earlier this year. Putin’s invasion of Ukraine has also drawn increased attention to Taiwan as a potential security flashpoint in Asia.

Persons: CNN —, Li Shangfu, “, Li, China’s, Vladimir Putin, Xi Jinping, Sputnik, Sergei Shoigu, William Lai, Lai, ” Organizations: CNN, Moscow Conference, International Security, Xinhua, Communist Party, Washington, Senior, US, Taiwan Locations: Taiwan, United States, Russia, China, Ukraine, Taipei, Moscow, Belarus, ”, Iran, Myanmar, Beijing, “, Xinhua, Russian, Alaska, Saudi Arabia, Kazakhstan, Vietnam, Paraguay, New York, Asia

☆ Inflation Reduction Act spurs $500 billion in investments — and much is going to underserved communities, Treasury says
▼ + stars: | 2023-08-16 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — The Treasury Department on Wednesday announced that billions of dollars slated for investments in clean energy, electric vehicles and batteries under the Inflation Reduction Act will go to relatively underserved communities throughout the country. The announcement comes as the IRA, the Biden administration's landmark law targeting manufacturing, infrastructure and climate change, turns one year old. The more than $500 billion in announced investments, $200 billion of which is in the clean energy sector, is a key goal of the legislation, according to the Treasury. A senior Treasury official told reporters on Wednesday that the agency is also seeing meaningful private investment in the efforts. He also contended it would benefit the Chinese Communist Party, as the U.S. relies on Chinese imports of key inputs for clean energy technology.

Persons: Sean Patrick Maloney, WASHINGTON —, Janet Yellen's, Harris administration's, Joe Biden's, Biden, Jason Smith, Smith Organizations: WASHINGTON, Treasury Department, Wednesday, Biden, Treasury, Chinese Communist Party Locations: Cold, , New York, U.S, China

Asian stocks were down and the dollar held firm after the weak Chinese data and latest policy easing measures. Investment in the property sector tumbled 8.5% year-on-year in January-July, after shrinking 7.9% in January-June, extending its fall for the 17th consecutive month. Demand for the property sector, once a pillar of economic growth, has remained weak in recent weeks. The nationwide survey-based jobless rate climbed slightly to 5.3% from 5.2% in June. After the youth jobless rate rose to record high of 21.3% in June, NBS spokesperson Fu Linghui said at Tuesday's press conference the bureau will suspend publishing the survey-based jobless rate for the 16-24 years old from August, adding China will further improve its employment statistics.

Persons: Julian Evans, Pritchard, Bruce Pang, Jones Lang Lasalle, Fu Linghui, Albee Zhang, Liangping Gao, Shri Navaratnam Organizations: National Bureau of Statistics, Retail, Capital Economics, Jones, Investment, Communist Party, NBS, Thomson Locations: BEIJING, China

/U.S House of Representatives/Handout via REUTERS /File PhotoWASHINGTON, Aug 15 (Reuters) - Nebraska Republican Congressman Don Bacon said late on Monday the FBI had warned him that his emails were hacked by Chinese spies, with both personal and campaign messages compromised. Bacon was told that the Chinese Communist Party had access to his accounts for about a month ending on June 16, he said on social media platform X, formerly known as Twitter. CNN previously reported that email accounts in the House of Representatives were targeted as part of the same campaign. The Chinese Embassy in Washington did not immediately respond to a message seeking comment. Reporting by Christopher Bing and Raphael Satter; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Don Bacon of Nebraska, Don Bacon, Bacon, Gina Raimondo, China Nicholas Burns, Christopher Bing, Raphael Satter, Devika Organizations: Republican U.S . Rep, U.S . House, REUTERS, Nebraska Republican, FBI, Chinese Communist Party, Twitter, Microsoft, U.S, U.S . Commerce, CNN, Communist, Embassy, Air Force, House Armed Services Committee, Thomson Locations: Nebraska, China, Washington

☆ How much worse can China's economic slowdown get?
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +4 min

HONG KONG, Aug 15 (Reuters) - China's economic activity data for July, including retail sales, industrial output and investment failed to match expectations, fuelling concern over a deeper, longer-lasting slowdown in growth. THE DEMISE OF CHINA'S GROWTH HAS BEEN MISTAKENLY FORECAST BEFORE. Alarm bells over growth rang during the global financial crisis in 2008-09 and during a capital outflow scare in 2015. If it persists, deflation could exacerbate the economic slowdown and deepen debt problems. There is also uncertainty about China's appetite for large fiscal stimulus, given the high levels of municipal debt.

Persons: Marius Zaharia, Robert Birsel Organizations: Communist Party, Thomson Locations: HONG KONG, China, West, United States, Japan, outflows

☆ Taiwan sees no Chinese military response to VP's US trip
▼ + stars: | 2023-08-15 | by ( Yimou Lee | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File PhotoTAIPEI, Aug 15 (Reuters) - Taiwan's defence ministry said on Tuesday it has not seen large-scale exercises or any other action by the Chinese military near the island after China condemned a brief U.S. visit by Taiwan Vice President William Lai. When asked at a press conference about Chinese military activity in response to Lai's trip, defence ministry spokesperson Sun Li-fang, said it was the responsibility of the armed forces to track any Chinese activities near Taiwan. However, Taiwan had not seen any "relatively large-scale" drills or actions by China's military, he said. Beijing has launched almost daily military incursions into Taiwan's air defence zone in recent years seeking to pressure Taipei to accept Chinese sovereignty. Both Taiwan and the United States are aiming for Lai's U.S. stop-overs to be as low-key as possible, saying that such transits are routine.

Persons: Dado Ruvic, William Lai, Lai, Sun Li, Sun, Su, Tsai Ing, Kevin McCarthy, Taiwan Premier Chen Chien, jen, Chen, Yimou Lee, Ben Blanchard, Gerry Doyle Organizations: REUTERS, Taiwan, Lai's U.S, U.S, Chinese Communist Party, Thomson Locations: TAIPEI, China, U.S, William Lai . China, Paraguay, Taiwan, Beijing, Taipei, San Francisco, California, United States, New York, Taiwan Premier, Lai's

☆ In the Market: Funds fret over the fallout of Biden's China order
▼ + stars: | 2023-08-14 | by ( Paritosh Bansal | Thomson Reuters | Paritosh Oversees The Work Of More Than Journalists Across The Globe Who Write About Finance | ) www.reuters.com time to read: +6 min

The executive order along with anti-China moves by lawmakers and agencies means the overall policy is unclear and riddled with landmines. "It will be very important to monitor how this executive order is being received in Congress." The executive order affects venture funds and private equity firms that invest in Chinese companies in semiconductors and microelectronics, quantum information technologies and artificial intelligence. MORE RESTRICTIONSSome of the investors said the administration's approach in framing the executive order had been more consultative. U.S. Representative Maxine Waters, Biden's fellow Democrat, said on Friday the executive order and rulemaking on outbound investment must be "broadened and strengthened."

Persons: Florence Lo, Biden, Anthony Rapa, Blank, Blackrock, MSCI, Maxine Waters, Paritosh Bansal, Andrea Shalal, Laura Matthews, Anna Driver Organizations: REUTERS, Fund, Investors, Blackrock, U.S, Chinese Communist Party, The, Vanguard, Morningstar, Blackrock's, Reuters Graphics Reuters, Thomson Locations: China, U.S, Beijing, Washington, MSCI, New York

☆ Bank of China starts nationwide move to reduce salary gap among employees, manager levels -sources
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A man rides his bicycle across the street under the Guomao bridge at the Central Business District in Beijing, China, October 19, 2015. Bank of China didn't immediately reply to a Reuters' request for comment. The move follows pay cuts being made at investment banks such as China International Capital Corp (CICC) (3908.HK). Two of the sources said the bank had finished implementing the plan at its headquarters in the first half of the year. A third source said the bank's Shanghai branch staff last week received notice that the bank would be reducing pay gaps there.

Persons: Jason Lee, Xi Jinping, Bank of China didn't, Ziyi Tang, Rong Ma, Ryan Woo, Hugh Lawson Organizations: Central Business District, REUTERS, Bank of China Ltd, Communist Party, Bank of, China International Capital Corp, HK, of, Central Commission, Inspection, Shanghai, Thomson Locations: Beijing, China, BEIJING, Bank of China, of China, Shanghai

CNN —Taiwan will never back down in the face of growing threats from China, the island’s vice president and presidential hopeful said Sunday during a transit through the United States, defying Beijing’s condemnation of his trip. William Lai, a front-runner in Taiwan’s presidential race in January, made a stop in New York en route to Paraguay, where he will attend the inauguration of its new president Tuesday. “When Taiwan is safe, the world is safe, and when there is peace on the Taiwan Strait, there will be world peace,” Lai said, according to Taiwan’s presidential office. In March, Taiwan’s President Tsai transited in California and met with US House Speaker Kevin McCarthy, despite warnings and threats from Beijing. Following Tsai’s trip, China launched three days of live-fire military drills around Taiwan.

Persons: William Lai, Lai, Taiwan’s, ” Lai, ”, Xi Jinping, Tsai Ing, Tsai, Xi, “, Kevin McCarthy Organizations: CNN, Communist Party, US, Democratic Progressive Party, Harvard, Kuomintang, China’s Communist Party, Taiwan’s Locations: Taiwan, China, United States, New York, Paraguay, “, Taiwan Strait, ”, San Francisco, Beijing, California

CNN —China’s foreign ministry on Sunday condemned the transit of Taiwan’s vice president and presidential candidate William Lai through the United States, calling him a “troublemaker through and through.”Lai arrived in New York on Saturday en route to Paraguay where he will attend the inauguration of Paraguayan President Santiago Pena on August 15. Paraguay is Taiwan’s only diplomatic ally in South America. Shortly after Lai’s arrival, China’s foreign ministry said it “firmly opposes” any official interaction between the US and Taiwan and any “‘Taiwan independence’ separatists to the US.”“China deplores and strongly condemns the US decision to arrange the so-called ‘stopover,’” it said in a statement. “Lai clings stubbornly to the separatist position for ‘Taiwan independence’. Lai is due to transit through San Francisco on August 16 on his return to Taipei, Taiwan’s vice foreign minister Alexander Yui said during a media briefing earlier this month.

Persons: CNN —, William Lai, ” Lai, Santiago Pena, Lai, ”, ‘, China’s, “, “ Lai, China ”, Alexander Yui Organizations: CNN, Paraguayan, US, Communist Party, Taiwan, ’ Locations: United States, New York, Paraguay, South America, China, Taiwan, ”, Lai, San Francisco, Taipei

☆ Rock ’n’ Roll According to the Chinese Communist Party
▼ + stars: | 2023-08-13 | by ( Vivian Wang | Weiyi Cai | ) www.nytimes.com time to read: +7 min

Rock ’n’ Roll According to the Chinese Communist PartyA man spends decades working a monotonous factory job. Then a local Communist Party group decided to rewrite it. Changed lyrics ORIGINAL REWRITE TITLE VERSE 1 VERSE 2 VERSE 3 CHORUS ORIGINAL TITLE VERSE 1 Changed lyrics VERSE 2 VERSE 3 CHORUS REWRITE TITLE VERSE 1 VERSE 2 VERSE 3 CHORUSChina’s government has long used censorship to control expression. As the Communist Party embraced market reforms in the 1990s, workers at state-run companies in Shijiazhuang, in northern China, faced mass layoffs. 日新月异二十年初心指向航向 Original aspiration: A common phrase in Chinese Communist Party propaganda about the party sticking to its founding principlesIt’s little surprise, then, that the two versions end in completely different places.

Persons: Ji Geng, ”, 用, 锈, 河北, worldviews, 如此, 翻天覆地, 日新月异, It’s, 迎风 Organizations: Communist Party, Chinese Communist Party, Society, Communist Youth League, Pharmaceutical, Hebei Normal University Locations: Shijiazhuang, Beijing, Shijiazhuang 杀死, Shijiazhuang 杀, China, Hebei Province, Hebei

☆ China's economy is showing signs of serious trouble — and the problems are still mounting
▼ + stars: | 2023-08-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +9 min

Deflation — the trend of prices falling throughout the economy — presents a particularly dangerous trajectory for China, which carries a massive amount of debt. The main components of GDP on the demand side — consumption, investment, net exports — they all have serious problems right now." A shaky property marketMost of China's economic troubles tie directly into its property market. Roughly a quarter of China's population works in agriculture — well above the 3% mark in the US — and that presents its own productivity limitations. From an unstable, debt-ridden property market to anti-business policies and demographic issues, Beijing has plenty to tackle if it hopes to match the same growth as decades past.

Persons: David Dollar, Biden, Dexter Roberts, Roberts, Terry Group, it's, Xi Jinping Organizations: Service, China's National Bureau of Statistics, People's Bank of, Federal Reserve, Brookings, Bloomberg, JPMorgan, Financial Times, China's, Global, US Census Bureau, Atlantic Council, Communist Party, Garden Holdings, Beike Research Institute, Terry Locations: Beijing, Wall, Silicon, China, People's Bank of China, China's US, Western, Russia, Asia, Ukraine, Mexico, China cratered, Rocky

☆ Country Garden restructuring fears deepen China property concerns
▼ + stars: | 2023-08-11 | by ( Clare Jim | ) www.reuters.com time to read: +6 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. The regulator also asked the property developers about their financing needs and sought suggestions, according to Cailianshe. China International Capital Corporation (CICC) has been hired as a financial adviser to Country Garden, the Yicai and Caixin reports said. Country Garden shares ended down 5.8% on Friday, having fallen as much as 14.4% during the day to a record low of HK$0.89. "It is likely to further weaken market sentiment and delay the recovery of China's property sector," it said.

Persons: Aly, Yicai, Cailianshe, CICC, John Lam, Clare Jim, Selena Li, Himani Sarkar, Jamie Freed, Raju Gopalakrishnan, Jane Merriman Organizations: Shanghai Country Garden, REUTERS, HK, China Evergrande, Sunac China Holdings, China's, Communist Party, China International Capital Corporation, Garden, UBS, China Aoyuan, Fantasia Holdings, Thomson Locations: Shanghai, China, HONG KONG, Beijing, Hong Kong

☆ Country Garden shares hit record low on loss forecast, restructuring fears
▼ + stars: | 2023-08-11 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Country Garden declined to comment. Country Garden told Reuters this week that it had not been able to make $22 million of dollar coupon payments on time, though both have 30-day grace periods. The shares shed as much as 14.4% on Friday morning to a record low of HK$0.89 ($0.1139), having lost 38% of their value so far this week. Country Garden forecast the large first-half loss in filings on Thursday, and said that it would take measures to meet its debt obligations and fix operational issues to get the company back on track.

Persons: Aly, Yicai, CICC, Garden's, Clare Jim, Himani Sarkar, Jamie Freed Organizations: Shanghai Country Garden, REUTERS, HK, China International Capital Corporation, Garden, Reuters, China Evergrande, Sunac China Holdings, Communist Party, Industry, Thomson Locations: Shanghai, China, HONG KONG, Hong Kong

☆ China’s sitting on a goldmine of genetic data – and it doesn’t want to share
▼ + stars: | 2023-08-11 | by ( Jessie Yeung | ) edition.cnn.com time to read: +14 min

The national survey and restrictions on foreign access are part of new regulations on China’s genetic resources, which came into effect in July. The national genetic surveyBiobanking in China – meaning the collection of biological samples – is still “very fragmented,” and in an “embryonic stage,” said Zhang. But these concerns aren’t new – and the national genetic survey seems to be geared more toward scientific research than other purposes, several experts agreed. But China has another motive, too: establishing what some experts call “genomic sovereignty,” meaning full control of the genetic material within their country. While many other countries also have laws regulating the use and transfer of their population’s genetic material, few are as strict as China’s.

Persons: Guang Niu, ”, Joy Y, Zhang, you’re, Wei Liang, ICHPL, Anna Puglisi, Puglisi, States –, Katherine Wang, ” –, Wang, “, Sun, Xi Jinping, Jiankui, Anthony Wallace, ” Zhang Organizations: Hong Kong CNN, Central South University, Centre for Global Science, biosciences, Shanxi Province Reproductive Science, Communist Party, Georgetown’s Center for Security, Emerging Technology, Gray, Group, CNN, Ministry of Science, Technology, National Health Service, National Institutes of Health, NIH Locations: Hong Kong, China, Changsha, Shanxi Province, Taiyuan, States, “, Wuhan, Xinijang, Xinjiang, Beijing, AFP, Harvard

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