China’s cyber watchdog issued new rules on internet users and outbound data transfers that become effective in August and September respectively. Experts believe the regime’s racing into the age of digital surveillance will only facilitate the collapse of its economy. The new regulations refine the regime’s firm grip on personal data and livelihood, and the operations…
China Races Into Cyber Totalitarianism With Tightened Internet Rules: Experts
July 26, 2022
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AI SurveillanceChinaChina Business & EconomyChinese RegimeInternet useroutbound data transferSocial Issues
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Chinese Hospital Delays Salaries Five Months: Medical Staff
How bad are the local governments’ finances in China? A piece of recent Chinese news gives a clue. A hospital in a northeastern coastal city has not paid its employees since March, according to a video report from state-run Chinese media The Paper. While the COVID pandemic was blamed, the hospital administrators admitted that the…
HSBC Becomes First Foreign Bank to Install Communist Party Committee
HSBC has become the first foreign bank with investment business in mainland China to set up a Chinese Communist Party (CCP) committee as part of its operations, according to a July 21 Financial Times report. HSBC Qianhai is a securities joint venture between HSBC and Qianhai Financial Holdings. After HSBC’s stake in the joint venture increased from…
Two Senior Managers of Chinese Online Financial Platform Sentenced to Prison for Alleged ‘Illegal Operation’ Offences
July 25, 2022
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ChinaChina Business & EconomyChinese Regimefinancial mediasocial controlSpecial Topicsthe CCPWu Xiaopeng
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The founder of a Chinese financial news media and a director of his company were reportedly sentenced to different imprisonment periods for alleged “illegal business operations.” Wu Xiaopeng, the founder of Wallstreetcn.com, an online financial news media, was sentenced to two years and nine months, while Fan Dianhua, a director of the company, received a…
Chinese State-Owned Firm Won Nearly 6 Million Barrels of US Oil Reserves Through Auction Sale, Records Show
July 25, 2022
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Asia & PacificbidenBusiness & MarketsChinaChina Business & EconomyChinese RegimeeconomyenergyExecutive BranchFinance & Business TiesNational Securityoil reservePolicies & ImpactsPoliticsSinopecSpecial TopicsStrategic Petroleum ReserveunipecUSUS NewsWorld
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The Biden administration has sold nearly 6 million barrels of oil from the U.S. strategic reserve to an entity tied with the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the…
US Sold 6 Million Barrels of Oil Reserves to China, Records Show
July 25, 2022
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Asia & PacificbidenBusiness & MarketsChinaChina Business & EconomyChinese RegimeeconomyenergyExecutive BranchFinance & Business TiesNational Securityoil reservePolicies & ImpactsPoliticsSinopecSpecial TopicsStrategic Petroleum ReserveunipecUSUS NewsWorld
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The Biden administration has sold nearly 6 million barrels of oil from the U.S. strategic reserve to an entity tied with the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the…
US Sold Nearly 6 Million Barrels of Oil Reserves to China, Records Show
July 25, 2022
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Asia & PacificbidenBusiness & MarketsChinaChina Business & EconomyChinese RegimeeconomyenergyExecutive BranchFinance & Business TiesNational Securityoil reservePolicies & ImpactsPoliticsSinopecSpecial TopicsStrategic Petroleum ReserveunipecUSUS NewsWorld
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The Biden administration has sold nearly 6 million barrels of oil from the U.S. strategic reserve to an entity tied with the Chinese Communist Party, records show. From September 2021 to July, the Department of Energy (DOE) has awarded three crude oil contracts with a combined value of roughly $464 million to Unipec America, the…
Chinese Cities Push Collective Buying of Homes Amid Shrinking Government Income
Since June, at least nine Chinese cities have been reportedly encouraging residents, including government employees, to “group buy” designated properties in an effort to boost local property sales. Group buying, also known as collective buying, offers products and services at significantly reduced prices on the condition that a minimum number of buyers make the purchase….
Chinese Investors Shouldn’t Be Allowed to Buy US Properties: DeSantis
July 24, 2022
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Business & MarketsChinaChina Business & EconomyChinese Commuint PartyConfucius Institueseconomic policieseconomyFloridaGov. Ron DeSantisInvestmentLocal NewsPolicies & ImpactsPoliticsRegional-Local NewsRepublicanssemiconductorUSUS NewsUS-China relations
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Florida Gov. Ron DeSantis warned about China’s malign influence in the Sunshine State after reports showed Chinese investors having spent billions of dollars buying U.S. farmland and other real estate. Calling China the United States’ “number-one adversary,” DeSantis told Fox News on July 23 that companies linked to the Chinese Communist Party (CCP) shouldn’t be…
China Evergrande CEO, CFO Resign Amid Probe Into Subsidiary
July 23, 2022
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Business & MarketsCEOChinaChina Business & EconomyCompanieseconomyevergrandePan DarongResignsubsidiaryXia Haijun
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NEW YORK—Struggling Chinese real estate developer China Evergrande has announced that its chief executive and chief financial officer have resigned after initial findings in a probe found $2 billion belonging to its property unit subsidiary was redirected back to the group. The news, announced Friday, comes as the company is already saddled with $310 billion…
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