Business
Rumors say Evergrande president jumped from building
On December 2, the news that Xu Jiayin, the founder of Chinese real estate development company Evergrande, jumped off a building, went viral at home and abroad, causing heated discussions. However, Evergrande insiders have denied the rumors, stressing that Xu had sent voice messages about the resumption of work and ...
China’s local financial pressure is as heavy as a mountain: Trillions in debt maturing
There are growing signs that debt repayment pressure on China's local governments will make it difficult for them to boost economic growth. According to a Bloomberg report, the total outstanding bonds of 31 provincial governments in China are close to the risk threshold set by the Ministry of Finance. Crossing this ...
Foxconn Zhengzhou, massive large-scale violent conflict between police and workers
After the COVID-19 pandemic broke out in Zhengzhou City, Henan Province, Foxconn, the world's largest Apple iPhone factory, reported that its employees had been infected on a large scale and fled the quarantine point at night. For this reason, the Henan government actively recruited new employees for Foxconn. However, on ...
British prime minister changes his tune on China
Global Times, an opinion leader for the Chinese Communist Party (CCP), said of Rishi Sunak during the election race, "Sunak is the only candidate with a clear and pragmatic vision on the development of UK-China ties." Sunak, a former UK Chancellor of the Exchequer (head of the Treasury), promised during his ...
Foxconn Zhengzhou: Massive protest, employees furiously knock down the barricade
Not long ago, Foxconn in Zhengzhou had a large-scale exodus of employees due to the COVID pandemic. Another mass protest broke out at Xinrong Central Golden Land Apartments in Zhengzhou on November 20, where many employees gathered and knocked down barricades. Locals said that to retain Foxconn employees and ensure ...
Germany changes investment policy toward China: It is now a ‘systemic rival’
Following the 20th Congress of the CCP, Germany closely followed the changes in the Party's military leadership along with Xi Jinping's statements on Taiwan and its importance for "the rejuvenation of the nation." Now, the German government is reviewing its entire investment policy in China. China has been one of Germany's ...
Chinese intelligence officer gets 20 years for spying
On November 16, an intelligence officer accused of spying for the Chinese regime was sentenced to 20 years in prison. The U.S. federal court convicted him on charges related to the theft of trade secrets and electronic espionage. This is the first case in which a Chinese intelligence officer was extradited ...
Semiconductor engineers flee China
China has always strived to develop its semiconductor industry, once paying 2 to 3 times higher wages to recruit a large number of Taiwanese engineers to work across the strait. However, as reported by the The New York Times, due to Chinese regime's pandemic restrictions and the impact of the ...
Apple and the consequences of partnering with the Chinese regime
Images of people escaping from a factory facility in China at the end of October swept the world. Workers jumping over fences and fleeing cross-country or walking along roadsides to escape the harsh working conditions and quarantine measures put one of the most emblematic companies of these times, Apple, in ...
The CCP’s “golden” tax that scares off the country’s celebrities and businessmen
The strict measures of "zero-COVID" have seriously affected the Chinese economy, so much so that the country's wealthiest are considering fleeing (some already have) from the Asian giant. Their decision has been hastened following the measure that the CCP will impose at the end of the year: the strictest tax ...
Heilongjiang extreme anti-pandemic: Fined for sleeping while not wearing a mask
On the afternoon of November 12, a clothing store employee in Heilongjiang province was given a yellow warning sign for not wearing a mask while napping. The news became a hot search topic on Baidu, causing lively discussions in the online community. According to a report by "Xiaoxiang Morning News," Zhang, ...
China: Tesla vehicle out of control and runs over two people
A Tesla Model Y car burst out of control in Chaozhou, Guangdong province on November 5. The driver was preparing to park it in front of his store, however, the vehicle would not respond and began accelerating rapidly. The Tesla traveled about a mile and a half before slamming into a ...
Beijing relaxes strict COVID measures and markets respond
Despite announcements of increased contagions in several regions of the country and strict COVID measures, the Chinese Communist Party is relaxing some of those restrictions. However, the "zero-COVID" policy remains in place throughout the country and a new dynamic will be adopted. The COVID-19 policy team reported the reduction of quarantine ...
Beijing uses ‘big data’ to prevent the wealthy from fleeing: New tax is like a ‘life cost’
As Chinese capitalists are looking to flee, the Chinese Communist Party (CCP) established the "High Net Worth Personal Administration" to conduct special tax checks on the rich using big data. As a result, wealthy people who want to leave China must obtain a Tax Refund Certificate. News commentators point ...
Foreign investors withdraw billions in October, China’s economy in difficulty
On November 9, preliminary statistics from the Institute of International Finance (IIF) indicated that the size of foreign investment capital withdrawn from the Chinese market in October amounted to $8.8 billion. The association argues that the Chinese economy is facing internal and external troubles. According to IIF data, the equity capital ...
China’s financial crisis: Bank stocks fall to historic lows
The bad debts of China's largest banks continue to grow and the financial bubble seems to be on the verge of bursting. Pessimism and disbelief about the Chinese banking system fell to unparalleled levels, even below those recorded during the U.S. housing crisis in 2008. China's four largest financial institutions, including ...
