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☆ Despite TikTok ban threat, influencers are flocking to a new app from its parent company
▼ + stars: | 2023-05-05 | by ( Clare Duffy | ) edition.cnn.com time to read: +8 min

However, they denied rumors that ByteDance had paid creators to promote the new app on TikTok. Still, the app lacks some standard social platform features such as messaging and the option to tag other users in posts. Lemon8’s userbase remains a far cry from the 150 million users TikTok says it has in the United States. By launching a new app even with TikTok in the spotlight, “ByteDance clearly doesn’t feel like they’re at risk,” Lewis said. Even if TikTok and Lemon8 were banned, Cruz said, “I already have a following on all the other platforms.”

☆ China weighs giving single women IVF access to stem population decline
▼ + stars: | 2023-04-29 | by ( ) www.cnbc.com time to read: +8 min

Crucially, Chen could access in-vitro fertility (IVF) treatment legally in a private clinic. We have liberalized the policies here and I know a lot of single women are doing IVF." watch nowLiberalizing IVF nationwide could unleash more demand for fertility treatment in what is already the world's biggest market, straining limited fertility services. The NHC's Sichuan branch did not address questions from Reuters about whether it would offer IVF treatment to all women in public hospitals. Shanghai and the southern Guangdong province have also permitted unmarried women to register their children but IVF services for single women remain banned.

☆ China approves wide-ranging expansion of counter-espionage law
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +1 min

In this photo illustration, the People's Republic of China flag logo is displayed on a smartphone screen on 25 July 2022. Chinese lawmakers passed a wide-ranging update to Beijing's anti-espionage legislation on Wednesday, banning the transfer of any information related to national security and broadening the definition of spying. China's top legislative body passed the revised Counter-Espionage Law — its first update since 2014 — following three days of deliberations, and it will take effect from July 1, state media reported. The law does not define what falls under China's national security or interests. It expands the definition of espionage to include cyber attacks against state organs or critical information infrastructure, state news agency Xinhua reported.

Hong Kong CNN —A Taiwan political activist has been formally arrested on suspicion of “secession” in China, more than eight months after he was detained amid heightened tensions across the Taiwan Strait. Taiwan’s Mainland Affairs Council said they had repeatedly reached out to mainland authorities about Yang’s detention but had not received a direct response. In 2019, he became the vice chairman of the Taiwan National Party, a fringe political party advocating Taiwan independence. Handcuffed and escortedCCTV said Yang had long advocated the idea of “Taiwan independence” and founded the Taiwan National Party to push for Taiwan to become an independent, sovereign country and a member state of the United Nations. However, Taiwan’s Mainland Affairs Council reminded Taiwan citizens to evaluate the risks before traveling to mainland China, citing the “repeated occurrence of similar cases recently,” without elaborating on the incidents.

CNN —A young Chinese woman who was arrested after attending a peaceful protest against Covid-19 restrictions in Beijing last year has been released alongside several of her friends after four months in police custody, according to a source familiar with their situation. Cao was released Wednesday evening, according to a source with direct knowledge. Three of her friends who were detained around the same time in December were also released, according to the source, who learned of their situation through mutual friends. Under Chinese law, the two others released alongside Cao would also likely have been formally charged to remain in custody until Wednesday, though CNN has not confirmed their charges. Two others in the group were released on bail in January, CNN confirmed at the time, while two more were released in February, according to the source familiar with the situation of those released this week.

The London Stock Exchange Group (LSEG) (LSEG.L) and UK trade officials visited several cities in China to promote UK capital markets recently. Wilson Xu, a banking veteran from CITIC Securities pioneering the Stock Connect programme, said liquidity will improve when there is a critical mass of Chinese listings. The Shanghai-London Stock Connect was launched in 2019 and the link was expanded last year to include Shenzhen and Switzerland. Even arrangements by SIX to allow roughly 2.5 hours of trading in a session for Chinese GDRs didn't help. Chinese companies, however, have been positive in public disclosures about their forays in Europe which have given them an alternative channel to raise funds and access foreign currency for their operations abroad.

☆ China resorts to extraordinary measures to soothe entrepreneurs amid deep retreat of private business
▼ + stars: | 2023-04-17 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —After years of regulatory crackdowns and draconian Covid curbs, private entrepreneurs in China are low on enthusiasm. If anything, the private sector seems to be retreating even more so far this year. State-led investment surged 10.5%, while private investment increased a mere 0.8%. In 2022, state investment rose 10.1%, while private investment ticked up 0.9%. “We always regard private enterprises and private entrepreneurs as people on our own side,” Xi said.

CNN —The US State Department said Thursday it is “disappointed” by a Chinese court’s decision to uphold the death sentence for American citizen Mark Swidan and called for his immediate release. “Today the People’s Republic of China’s Jiangmen Intermediate Court denied wrongfully detained US national Mark Swidan’s appeal, and upheld his death penalty with a two-year suspended death sentence,” State Department principal deputy spokesperson Vedant Patel said in a statement. “We are disappointed by this decision and will continue to press for his immediate release and return to the United States,” Patel said. He was convicted of manufacturing and trafficking drugs in 2019 by the Jiangmen Intermediate People’s Court in southern Guangdong province and given a death sentence with a two-year reprieve. Under Chinese law, the reprieve means Swidan’s sentence may be commuted to life imprisonment after two years, subject to his conduct during this period.

☆ Tim Cook and other tech CEOs to discuss China with US lawmakers
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTim Cook and other tech CEOs to discuss China with US lawmakersCNBC's Deirdre Bosa joins 'TechCheck' to discuss tech CEO's meeting with Chinese lawmakers, and the use of A.I. and cloud to modernize JPMorgan's fraud detection and banking systems.

☆ TikTok's CEO got coached by ex-Obama and Disney advisers for a month before his viral Congress hearing, which saw his followers on the app increase 16,000%
▼ + stars: | 2023-03-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

TikTok hired former Obama and Disney advisers to coach its CEO before his congressional hearing, per WSJ. Shou Zi Chew has seen his follower count on TikTok rise from 18,700 to 3 million in 8 days. Chew was largely unknown before the hearing last Thursday, with just under 19,000 followers on the app, per Reuters. Two days before the hearing, Chew posted an informal introduction on the app – he was dressed in a hoodie and jeans – which has since amassed 4.7 million likes. A spokesperson for the app previously told Insider it believed the bans "have been based on misplaced fears and seemingly driven by wider geopolitics."

☆ CNH Industrial agrees to buy Hemisphere GNSS for $175 mln
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

MILAN, March 30 (Reuters) - CNH Industrial (CNHI.MI) said on Thursday that it had agreed to buy Hemisphere GNSS, a high-performance satellite positioning technology company, for $175 million to improve automation in its agriculture and construction businesses. Just before that, in 2021, it bought U.S.-based Raven for $2.1 billion to consolidate its presence in the precision farming segment. "Combined with our Raven Brand's capabilities, this development gives us full control of our precision and navigation technologies," CNH said with reference to the deal announced on Thursday. CNH said Hemisphere's core technology capabilities included application-specific integrated circuit chips, circuit boards, radio frequency signal processing, navigation algorithms and satellite-based correction designs. Hemisphere will continue to operate as a standalone business through its operations in the U.S., Canada and Australia, CNH said.

☆ Arkansas sues TikTok, ByteDance and Meta over mental health claims
▼ + stars: | 2023-03-29 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

Washington CNN —The state of Arkansas has sued TikTok, its parent ByteDance, and Facebook-parent Meta over claims the companies’ products are harmful to users, in the latest effort by public officials to take social media companies to court over mental-health and privacy concerns. The complaints come amid mounting pressure in Washington on TikTok for its ties to China and as states have grown more aggressive in suing tech companies broadly, particularly on mental health claims. The suit further alleges that TikTok’s Chinese sister app, Douyin, does not make such content available within China. Adobe Stock“TikTok poses known risks to young teens that TikTok’s parent company itself finds inappropriate for Chinese users who are the same age,” the complaint said. TikTok has migrated US user data to servers operated by the American tech giant Oracle and has established organizational controls intended to prevent unauthorized data access.

☆ A GOP congresswoman says TikTok CEO's testimony made it clear to her that the app is 'an immediate threat' from China and that she supports a ban
▼ + stars: | 2023-03-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

GOP Rep. Cathy McMorris Rodgers called TikTok "an immediate threat" and wants it banned in the US. McMorris Rodgers said she's deeply concerned about the user data of millions of US TikTok users. "I would say there's an immediate threat via TikTok from the Chinese Communist Party. "What the hearing made clear to me was that TikTok should be banned in the United States of America to address the immediate threat and we also need a national data privacy law," she added. McMorris Rodgers pointed to Tiktok and parent company ByteDance as having ties to the Chinese government, which she said is a major risk to Americans.

☆ Japanese man detained in China is Astellas Pharma employee
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +1 min

TOKYO, March 26 (Reuters) - A Japanese man detained in China is an employee of Astellas Pharma Inc (4503.T), a company spokesperson told Reuters on Sunday. The company did not identify the employee and the spokesperson said it was not clear as to why he had been detained. Kyodo and other Japanese media reported on Saturday that a Japanese man in his 50s was taken into custody in Beijing this month for an alleged violation of Chinese law. But China had not fully explained what prompted authorities in Beijing to detain the man, media said. The Japanese government had asked Chinese authorities to release the man, media reported.

☆ China says it ‘firmly opposes’ a potential forced sale of TikTok
▼ + stars: | 2023-03-24 | by ( Laura He | ) edition.cnn.com time to read: +2 min

China’s commerce ministry said Thursday that a forced sale of TikTok would “seriously damage” global investors’ confidence in the United States. “If the news [about a forced sale] is true, China will firmly oppose it,” Shu Jueting, a spokeswoman for the ministry, told a Thursday news conference in Beijing, adding that any potential deal would need approval from the Chinese government. “The sale or divestiture of TikTok involves technology export, and administrative licensing procedures must be performed in accordance with Chinese laws and regulations,” she said. “The Chinese government will make a decision in accordance with the law.”Previously, Beijing didn’t weigh in directly on a potential forced sale. Chinese regulators first added algorithms to the restricted list of technologies in August 2020, when the Trump administration threatened to ban TikTok unless it was sold.

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo | ReutersBEIJING — China says it would "strongly oppose" a forced sale of TikTok, making clear the government's involvement with the social media giant that's trying hard to distance itself from Beijing authorities. ByteDance did not immediately respond to a request for comment on the Chinese Commerce Ministry's remarks. But the commerce ministry's claim of control over a TikTok sale or spinoff indicates Beijing wants to be involved. When asked about the commerce ministry's remarks Thursday, TikTok's CEO said the app isn't available in mainland China and is based in Los Angeles.

☆ TikTok congressional hearing: CEO Shou Chew grilled by US lawmakers
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

TikTok, which has more than 150 million American users, was repeatedly hammered in the ongoing hearing where no lawmaker offered any support. PARENTS UNHAPPYRepresentative Diana DeGette, a Democrat, said TikTok's efforts to prevent the spread of misinformation on the platform were not working. REUTERS/Evelyn Hockstein 1 2 3 4 5"You gave me only generalized statements that you're investing, that you're concerned, that you're doing work. Wedbush analyst Dan Ives on Twitter said, "TikTok CEO testimony so far we would characterize as a 'mini disaster' for this key moment for TikTok. TikTok is now poster child of the US/China tensions and lawmakers have a lot of q’s with not enough concrete answers."

☆ China Says It Opposes a Forced Sale of TikTok
▼ + stars: | 2023-03-23 | by ( ) www.wsj.com time to read: 1 min

A TikTok advertisement at Union Station in Washington, D.C., addresses user security and privacy concerns. BEIJING—China said it would strongly oppose any forced sale of TikTok, responding for the first time to a Biden administration demand that the video app divest itself from its Beijing-based parent ByteDance Ltd. or face a nationwide ban. China’s Commerce Ministry said Thursday that a forced sale by Washington could damage the confidence of Chinese investors in the U.S. and said any sale or spinoff of TikTok would involve technology-export issues that would need to be handled according to Chinese law and with the approval of the Chinese government.

☆ Crypto is banned in China, but Binance employees and support volunteers tell people how to bypass the ban
▼ + stars: | 2023-03-23 | by ( Rohan Goswami | ) www.cnbc.com time to read: +18 min

The messages CNBC reviewed come from accounts identified as Binance employees or Binance-trained volunteers known as "Angels." Whatever the method, Binance's Chinese users take on a significant risk: In China, crypto exchanges have been outlawed since 2017, while crypto itself was outlawed in 2021. But Chinese customers have continued to seek ways to trade on Binance, which include using instructions provided by employees and volunteers. "'Binance does not offer a 'Binance Chinese Android app," a spokesperson said. In addition, hours after Binance responded to CNBC, messages apeared on Twitter suggesting that some customers' Binance debit cards had been frozen.

☆ TikTok CEO says China-based ByteDance employees still have access to some U.S. data
▼ + stars: | 2023-03-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +2 min

Lawmakers and intelligence officials fear that U.S. user data could get into the hands of the Chinese government via ByteDance. TikTok said Thursday that Project Texas is already in action but there are many steps to reach its completion. The data on those servers is the kind that could theoretically still be accessed by China-based ByteDance employees for the time being. Once that data is deleted, according to TikTok, those employees will no longer have access to U.S. user data from the app. WATCH: TikTok CEO Shou Zi Chew: I don't condone effort by former employees to access U.S. user data

☆ TikTok's potential U.S. ban presents host of questions for app stores, internet companies and the government
▼ + stars: | 2023-03-17 | by ( Lauren Feiner | ) www.cnbc.com time to read: +7 min

The TikTok logo is displayed outside TikTok social media app company offices in Culver City, California, on March 16, 2023. related investing news What a potential TikTok ban could mean for Club holding Meta Platforms It's not an issue yet, as there are still some ways a TikTok ban could be avoided or accessed legally in the U.S. Should the U.S. ban TikTok, the mechanics on what happens from there get murky. And the app stores controlled by Apple and Google are the primary places for consumers to download the TikTok app. Under Chinese law, companies can be required to hand over internal information to the government for supposed national security purposes.

☆ SVB collapse will have limited impact on Asia, but one analyst says it could be a warning sign
▼ + stars: | 2023-03-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

HANGZHOU, CHINA - MARCH 12, 2023 - Photo taken on March 12, 2023 shows the logo of SPD Silicon Valley Bank in Hangzhou, Zhejiang province, China. Future Publishing | Future Publishing | Getty ImagesAnalysts say the collapse of Silicon Valley Bank is not likely to have a major contagion effect in Asia, but one person says it could be seen as a "warning" — especially for economies that haven't hiked interest rates aggressively. It came after U.S. regulators announced measures to further stem systemic risks from Silicon Valley Bank's collapse. While a number of companies within Asia's venture capital and tech start-up sector do have exposure to Silicon Valley Bank, not many have openly admitted to seeing major losses from SVB's bankruptcy. SPD Silicon Valley Bank, a joint venture between Shanghai Pudong Bank and Silicon Valley Bank sought to reassure investors over the weekend and said its operations have been "independent and stable."

☆ Chinese companies and tycoons rush to calm investors after SVB collapse causes anxiety
▼ + stars: | 2023-03-13 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has caused widespread concern in China, where a string of founders and companies rushed to appease investors by saying their exposure was insignificant or nonexistent. “As China’s first technology bank, SPD Silicon Valley Bank is committed to serving Chinese science and technology companies, and has always had sound operations in accordance with Chinese laws and regulations.”It’s unclear what will happen to SVB’s ownership of the joint venture. BeiGene, one of China’s largest cancer-focused drug companies, said Monday it had more than $175 million uninsured cash deposits at SVB, which represents approximately 3.9% of its cash, cash equivalents and short-term investments. Zai Lab, a pharmaceutical firm, announced that its cash deposits at SVB were “immaterial” at about $23 million. “We never opened an account with Silicon Valley Bank, nor placed a deposit,” he said late Sunday on his Weibo account.

☆ At China political meeting, internet bosses are out, chip execs are in
▼ + stars: | 2023-03-03 | by ( Laurie Chen | ) www.reuters.com time to read: +4 min

HARDWARE FOCUSNewcomers to the events include representatives from chip firms Semiconductor Manufacturing International Corporation (SMIC), state-backed Hua Hong Semiconductor Ltd, Shandong Youyan Semiconductor Materials Co. in the NPC and Cambricon Techologies Corp in the CPPCC. Other new NPC delegates come from robotics, laser, aerospace and aeronautics firms. Delegates for the NPC and CPPCC are chosen every five years by the Communist Party and have the option to resign. Some celebrity CPPCC delegates did not reappear on this year's list, such as Hong Kong action star Jackie Chan, film director Feng Xiaogang and state television anchor Bai Yansong. Yao Ming, a retired basketball star who heads the Chinese Basketball Association, has moved from the CPPCC to the NPC.

☆ Apple and Google should boot TikTok from their app stores, Democratic senator urges
▼ + stars: | 2023-02-02 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

Sen. Michael Bennet, D-Colo., urged the CEOs of Apple and Google to remove TikTok from their mobile app stores immediately in a letter on Thursday, citing widespread concerns that the Chinese government could access information on Americans using the app. "These obvious risks render TikTok, in its current form, an unacceptable threat to the national security of the United States." TikTok has repeatedly sought to reassure concerned American lawmakers and officials that it does not store U.S. user data in China. It has also been negotiating with the U.S. government about how it can mitigate potential national security risks while continuing to operate here. "Unfortunately, Senator Bennet's letter relies almost exclusively on misleading reporting about TikTok, the data we collect, and our data security controls," TikTok spokesperson Brooke Oberwetter said in a statement.

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