Alibaba raised its share buyback program to $25 billion on Tuesday, the largest ever repurchase plan by the e-commerce giant, to prop up its battered shares as it fights off regulatory scrutiny and concerns about slowing growth. Alibaba shares, which have more than halved in the past year, surged on the news and closed up…
Ukrainian Official Pleads with Chinese Drone Maker to Stop Use By Russian Military
March 22, 2022
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ChinaChina Business & EconomyDronesEurope-China RelationsInternational RelationsmilitarytechnologyUkraine
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A Ukrainian statesman called upon a Chinese drone manufacturer to halt the use of its products by the Russian military, which he said were being used to target Ukrainian civilians with missiles. “In 21 days of the war, Russian troops [have] already killed 100 Ukrainian children,” Ukrainian Vice Prime Minister Mykhailo Federov wrote in a…
Beijing Wants to Make the Yuan International, Without Releasing Capital Controls
News Analysis Beijing wants the yuan to be truly global, but this will be impossible unless the Chinese Communist Party (CCP) releases its capital controls and allows the currency value to be set by the markets. Even then, the dollar will most likely continue to be the world’s currency. Over the past two months, the…
Evergrande to Miss Earnings Deadline, Says Lenders Have Seized $2 Billion in Cash
Embattled real estate giant China Evergrande Group, whose total debts are estimated to surpass $300 billion, has announced that it will not meet the March 31 deadline for publishing its audited 2021 financial results. The news comes as one of its units also said on March 22 that unnamed creditors have seized $2 billion of the…
China’s Home Market Slump Deepens as Declines in Prices and Sales Widen
China’s home market fell at a fast pace at the start of 2022. Even though the government lifted some restrictive policies late last year, the housing market has, so far, not been pulled out of its slump. The value of homes sold in the first two months of 2022 fell 22 percent from last year,…
Fallout From London Nickel Trading Fiasco Will Be Extensive, Expert Says
March 22, 2022
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BusinessCCPChinaChina Business & EconomyFinance & Business TiesSpecial TopicsUnited StatesUS-China relationsWorld
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The London Metal Exchange’s (LME) extraordinary decision on March 8 to halt nickel trading after a short squeeze triggered by a Chinese metal tycoon’s large short position sent commodity prices skyrocketing to more than $100,000 a ton will have far-reaching ramifications for Chinese firms in global markets That’s according to Christopher Balding, an economist and analyst…
The LME ‘Demon Nickel’ Incident That Shocked the World Confirmed the Existence of ‘Hong Kong Backdoor’
March 22, 2022
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ChinaChina Business & EconomyChinese Regimedemon nickelLondon Metal Exchange (LME)London Stock ExchangeTsingshan Group
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The “demon nickel” incident of China Tsingshan Group has made the London Metal Exchange (LME) and Tsingshan Group the focus of the international financial market, and gradually exposed the inside story of how the Hong Kong Stock Exchange and the Chinese Communist Party (CCP) influence the global nickel price through the LME. Industry experts believe…
California Court Seizes Illegal Bank Accounts Held by Chinese Nationals
March 22, 2022
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Asia & PacificBank of AmericaBeijingChinaChina Business & EconomyChinese nationalsCrime and IncidentsJudiciaryLocal NewsNorthern CaliforniaPatriot ActRegional-Local NewsSouthern CaliforniaU.S. Department of JusticeUSUS NewsUS-China relationsWorld
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The U.S. Department of Justice on Feb. 16 filed a lawsuit in a California court seizing the funds of hundreds of Chinese nationals who held illegal U.S. bank accounts obtained through a criminal ring. As Beijing tightens the limit on capital leaving the country, many Chinese nationals seek other channels to move funds overseas. For…
DOJ Seeks Seizure of Bank Accounts Allegedly Illegally Held by Chinese Nationals
March 22, 2022
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Asia & PacificBank of AmericaBeijingChinaChina Business & EconomyChinese nationalsCrime and IncidentsJudiciaryLocal NewsNorthern CaliforniaPatriot ActRegional-Local NewsSouthern CaliforniaU.S. Department of JusticeUSUS NewsUS-China relationsWorld
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The U.S. Department of Justice on Feb. 16 filed a lawsuit in a California court seeking to seize the funds of hundreds of Chinese nationals who held illegal U.S. bank accounts obtained through a criminal ring. As Beijing tightens the limit on capital leaving the country, many Chinese nationals seek other channels to move funds…
DOJ Seeks Seizure of Bank Accounts Allegedly Held Illegally by Chinese Nationals
March 22, 2022
admin
Asia & PacificBank of AmericaBeijingChinaChina Business & EconomyChinese nationalsCrime and IncidentsJudiciaryLocal NewsNorthern CaliforniaPatriot ActRegional-Local NewsSouthern CaliforniaU.S. Department of JusticeUSUS NewsUS-China relationsWorld
0 Comment
The U.S. Department of Justice on Feb. 16 filed a lawsuit in a California court seeking to seize the funds of hundreds of Chinese nationals who held illegal U.S. bank accounts obtained through a criminal ring. As Beijing tightens the limit on capital leaving the country, many Chinese nationals seek other channels to move funds…
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