China’s biggest private companies are in chaos. It’s all part of Beijing’s plan
3 years, 4 months ago

China’s biggest private companies are in chaos. It’s all part of Beijing’s plan

CNN  

Editor’s Note: A version of this story appeared in CNN’s Meanwhile in China newsletter, a three-times-a-week update exploring what you need to know about the country’s rise and how it impacts the world. “Ultimately, Beijing’s crackdown on private business is about control,” said Alex Capri, a research fellow at the Hinrich Foundation. “The main priority is about preventing behavior amongst private companies that could engender more independent and potentially non-conformist activities, which undermines Beijing’s state-centric model.” A major corporate shakeup Corporate China has been rocked by Beijing’s reforms. The government’s focus on inequality is a “smart choice,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy and the private sector, given concerns about disparities in income and education. “But the increase in control also signals to the private entrepreneurs that they must now watch their steps more carefully and bring their businesses in line with Party guidelines or leadership.” Opper, of Bocconi University, cited similar concerns, adding that Beijing’s decision to target specific companies may not be “the most effective policy response.” She suggested that progressive taxation and education support for the poor could more successfully combat inequality.

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History of this topic

Private industry holds keys to China's cosmic success
1 week, 4 days ago

Private industry holds keys to China's cosmic success

China Daily  

ZHAO LEI As a reporter covering China's space programs, I have witnessed dozens of liftoffs when a gigantic rocket soars into the skies. It is true that our space authorities have been striving to bolster commercialization by encouraging private companies to take part in State programs and giving more resources to such enterprises, and that Chinese private companies have made …

AI and semiconductors: China hits out at latest US effort to block Beijing’s access to chip technology
3 weeks, 1 day ago

AI and semiconductors: China hits out at latest US effort to block Beijing’s access to chip technology

CNN  

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world. Hong Kong/Washington CNN — The Chinese government has slammed America’s introduction of fresh export controls on US-made semiconductors that Washington fears Beijing could use to make the next generation of weapons and artificial …

Hong Kong is becoming a hub for financial crime, US lawmakers say
4 weeks ago

Hong Kong is becoming a hub for financial crime, US lawmakers say

CNN  

Hong Kong CNN — Hong Kong has become a center for money laundering and sanctions evasion under the tightening grip of Beijing, US lawmakers have warned, calling for a re-evaluation of America’s close business relationship with the Asian financial hub. In a letter to US Treasury Secretary Janet Yellen Monday, bipartisan leaders of the House Select Committee on China demanded …

Congress targets Chinese influence in health tech. It could come with tradeoffs
3 months, 1 week ago

Congress targets Chinese influence in health tech. It could come with tradeoffs

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rep. James Comer, a Kentucky …

'De-risking' efforts and exercise in futility: China Daily editorial
3 months, 2 weeks ago

'De-risking' efforts and exercise in futility: China Daily editorial

China Daily  

Chinese and US flags flutter outside the building of an American company in Beijing. By leveraging closer economic ties with India and encouraging greater collaboration between the two sides in areas such as information technology, space exploration and renewable energy, the Biden administration hopes to hold back China's development by reducing its leadership advantages and, by positioning India as an …

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion
4 months, 2 weeks ago

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion

Associated Press  

WASHINGTON — It was billed as the “biggest ever economic development project” in north Michigan when Gov. “The main reason is U.S.-China rivalry, and the U.S. government prioritizes ‘national security’ over economic interests in dealing with China.” Lizhi Liu, an assistant professor of business at Georgetown University, said the trend, along with the decline of U.S. investments in China, could …

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion
4 months, 2 weeks ago

Chinese businesses hoping to expand in the US and bring jobs face uncertainty and suspicion

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The main reason is U.S.-China rivalry, …

Fresh impetus for China's private sector
4 months, 3 weeks ago

Fresh impetus for China's private sector

China Daily  

An employee works on a chip production line in Jiujiang, Jiangxi province. The country will also support capable private enterprises in leading national initiatives to make breakthroughs in major technologies and provide private enterprises with greater access to major national scientific research infrastructure, he said. "As the rule of law offers the best business environment, China will formulate and introduce …

Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties
5 months ago

Chinese officials warn of risks from higher US tariffs, urge US business leaders to help mend ties

Associated Press  

BANGKOK — Chinese officials warned a delegation of top U.S. executives visiting Beijing this week that higher tariffs on imports from China will harm their businesses inside the country. The delegation of influential business people belonging to the U.S. China Business Council, including the CEOs of FedEx and Micron, followed a top-level meeting last week where ruling Communist Party leaders …

China vows more opportunities for private enterprises
5 months ago

China vows more opportunities for private enterprises

China Daily  

China vowed to create a favorable environment, to offer more opportunities for private enterprises, and enhance mechanisms for private companies to participate in major national projects, said a senior financial official at a news conference on Friday. Han Wenxiu, executive deputy director of the office of the Central Committee for Financial and Economic Affairs, said the country will support capable …

China committed to letting foreign businesses flourish
7 months ago

China committed to letting foreign businesses flourish

China Daily  

By Zhong Nan| chinadaily.com.cn| Updated :2024-05-24 A view of Beijing's CBD area. China remains steadfast in its commitment to maintaining high-level openness to international engagement and defending the lawful rights of all market participants, said the Ministry of Commerce on Thursday. "Foreign entities that comply with the law have no cause for concern," said He, stressing the Chinese government continues …

China committed to letting foreign businesses flourish
7 months ago

China committed to letting foreign businesses flourish

China Daily  

By Zhong Nan| chinadaily.com.cn| Updated :2024-05-24 A view of Beijing's CBD area. China remains steadfast in its commitment to maintaining high-level openness to international engagement and defending the lawful rights of all market participants, said the Ministry of Commerce on Thursday. "Foreign entities that comply with the law have no cause for concern," said He, stressing the Chinese government continues …

Tensions between Beijing and Washington are the biggest worry for US companies in China, report says
8 months ago

Tensions between Beijing and Washington are the biggest worry for US companies in China, report says

Associated Press  

Simmering tensions between Beijing and Washington remain the top worry for American companies operating in China, according to a report by the American Chamber of Commerce in China released Tuesday. American businesses are frustrated by slow progress on promises by China to level the playing field between foreign and Chinese companies, the report said. Among its many recommendations the report …

Hidden agenda behind hype of China's "overcapacity problem"
8 months, 3 weeks ago

Hidden agenda behind hype of China's "overcapacity problem"

China Daily  

A worker assembles vehicles in a factory in Weifang, Shandong province, Jan 28, 2023. While it is just basic economics that surplus products naturally seek out markets elsewhere once domestic demand is met, and Western nations have been doing that for centuries, when it comes to China, it becomes an "overcapacity problem" threatening the world. This new variant of "China …

China Business Risks: Uncertainty for Foreign Firms
9 months ago

China Business Risks: Uncertainty for Foreign Firms

The Hindu  

Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group said. EU Chamber officials said China’s changing business environment partly reflects moves by Beijing to minimise risks due to trade friction and dependence on imports of key commodities or industrial products. “The number and severity of risks companies find themselves …

Doing business in China is growing tougher, more uncertain, European business group says
9 months ago

Doing business in China is growing tougher, more uncertain, European business group says

Associated Press  

BEIJING — Uncertainty and “draconian regulations” have drastically raised risks for foreign businesses in China, a report by a European business group said Wednesday. The lengthy paper by the European Union Chamber of Commerce in China urges China’s leaders to do more to address concerns that it says have “grown exponentially” in recent years. EU Chamber officials said China’s changing …

Behind the doors of a Chinese hacking company, a sordid culture fueled by influence, alcohol and sex
9 months, 2 weeks ago

Behind the doors of a Chinese hacking company, a sordid culture fueled by influence, alcohol and sex

Associated Press  

BEIJING — The hotel was spacious. Mei Danowski, a cybersecurity analyst who wrote about I-Soon on her blog, Natto Thoughts, said the documents show that China’s hackers for hire work much like any other industry in China. I-Soon is “part of an ecosystem of contractors that has links to the Chinese patriotic hacking scene,” said John Hultquist, chief analyst of …

China pledges to increase opportunities for foreign companies as it seeks to boost its economy
9 months, 3 weeks ago

China pledges to increase opportunities for foreign companies as it seeks to boost its economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

We need to start taking China’s tech threat seriously
10 months, 1 week ago

We need to start taking China’s tech threat seriously

The Independent  

If you are presented with a large, menacing, and at times seemingly undetectable danger, it might be assumed that you would take steps to protect yourself from said danger. The Intelligence and Security Committee warned about China’s “whole-of-state” approach: co-opting state institutions, companies, and citizens that, whilst difficult to detect, are contrary to our values. In response, the government said …

Xi Jinping’s grip on Chinese enterprise gets uncomfortably tight
1 year ago

Xi Jinping’s grip on Chinese enterprise gets uncomfortably tight

Hindustan Times  

AS THE HEAD office of Northern Heavy Industries comes into view, so does a huge slogan fixed permanently to its roof in metre-high red Chinese characters, where you might usually see a company name. Many global investors increasingly view China’s private sector as a captive of the Communist Party. A recent paper from the Centre for Strategic and International Studies, …

How China Demands Tech Firms Reveal Hackable Flaws in Their Products
1 year, 3 months ago

How China Demands Tech Firms Reveal Hackable Flaws in Their Products

Wired  

For state- But for the past two years, China has added another approach to obtaining information about those vulnerabilities: a law that simply demands that any network technology business operating in the country hand it over. When tech companies learn of a hackable flaw in their products, they’re now required to tell a Chinese government agency—which, in some cases, then …

‘Economic Coercion’: US bans tech investments in China, miffed CCP warns of impact on global supply chains
1 year, 4 months ago

‘Economic Coercion’: US bans tech investments in China, miffed CCP warns of impact on global supply chains

Firstpost  

The US has banned American companies from investing in Chinese tech businesses that have anything to do with semiconductors and microelectronics, quantum information technologies. China is very angry with this, saying it will impact global supply chains President Joe Biden has signed an executive order that will stop certain new investments from the US in China’s sensitive technology sectors, such …

Trade figures give fresh push to recovery
1 year, 7 months ago

Trade figures give fresh push to recovery

China Daily  

Containers are transferred at the China-Kazakhstan International Logistics Base in Lianyungang, Jiangsu province, on Nov 25, 2022. Experts: Govt should support private firms in facing multiple headwinds The fact that China's major foreign-trade powerhouses posted robust import and export numbers in the first four months has consolidated the recovery momentum and bodes well for a stable trade scenario this year, …

Trade figures give fresh push to recovery
1 year, 7 months ago

Trade figures give fresh push to recovery

China Daily  

Containers are transferred at the China-Kazakhstan International Logistics Base in Lianyungang, Jiangsu province, on Nov 25, 2022. Experts: Govt should support private firms in facing multiple headwinds The fact that China's major foreign-trade powerhouses posted robust import and export numbers in the first four months has consolidated the recovery momentum and bodes well for a stable trade scenario this year, …

Micron: US expresses ‘serious concerns’ after China bans its largest memory chipmaker
1 year, 7 months ago

Micron: US expresses ‘serious concerns’ after China bans its largest memory chipmaker

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The US has expressed "serious concerns" about China's move to …

Business group: Companies in China want ‘clarity’ after security rule changes, raids on consultants
1 year, 7 months ago

Business group: Companies in China want ‘clarity’ after security rule changes, raids on consultants

Associated Press  

BEIJING — Foreign companies in China are uncertain about what they are allowed to do following police raids on consulting firms and want “greater clarity” about how newly expanded national security and other rules will be enforced, a foreign business group said Tuesday. “If there is greater clarity and greater certainty, then we believe that companies will commit more to …

China’s foreign companies on edge after ‘state secrets’ raids
1 year, 7 months ago

China’s foreign companies on edge after ‘state secrets’ raids

Al Jazeera  

Business groups say probes into firms’ handling of information has raised uncertainty about operating in China. “This would give foreign companies more confidence and enable them to comply with Chinese regulations.” Zheng’s remarks follow a similar warning by the US business group last month that China’s recent expansion of its espionage law “dramatically increases uncertainties and risks of doing business …

Foreign companies in China face growing scrutiny, pressure
1 year, 7 months ago

Foreign companies in China face growing scrutiny, pressure

Associated Press  

BEIJING — Foreign companies are under growing pressure in China from anti-corruption, national security and other investigations as President Xi Jinping’s government tightens control over business, clashing with efforts to lure back investors after the pandemic. “All companies in China should operate in compliance with law.” Xi, China’s most powerful leader in decades, is in the midst of multiple campaigns …

China accuses Washington of trying to block its development
1 year, 9 months ago

China accuses Washington of trying to block its development

The Independent  

Get Nadine White's Race Report newsletter for a fresh perspective on the week's news Get our free newsletter from The Independent's Race Correspondent Get our free newsletter from The Independent's Race Correspondent SIGN UP I would like to be emailed about offers, events and updates from The Independent. Xi said a US-led campaign of “containment and suppression” of China has …

China wants AI to rival ChatGPT. Censorship makes that tricky
1 year, 9 months ago

China wants AI to rival ChatGPT. Censorship makes that tricky

Al Jazeera  

Chinese firms including Baidu and Alibaba are racing to roll out versions of the chatbots taking the tech world by storm. China’s Ministry of Science and Technology said last week it would push for the integration of AI across Chinese industry, while cities including Beijing have also announced plans to back developers. “The most general-purpose technology we have, artificial intelligence, …

Chill pervades China’s tech firms even as crackdown eases
1 year, 10 months ago

Chill pervades China’s tech firms even as crackdown eases

Associated Press  

HONG KONG — A grinding crackdown that wiped billions of dollars of value off Chinese technology companies is easing, but the once-freewheeling industry is bracing for much slower growth ahead. Analysts say China’s easing of restrictions on companies like e-commerce giant Alibaba and online games company Tencent and talk of support for the private sector reflects Beijing’s decision to refocus …

China chip industry group ‘troubled’ by US export curbs
2 years, 2 months ago

China chip industry group ‘troubled’ by US export curbs

Al Jazeera  

China’s top trade group for the chip sector has said it is “disappointed” by recent US export controls and warned they could put more stress on global supply chains. Last week, the US Department of Commerce passed a sweeping set of regulations aimed at kneecapping advancements in China’s semiconductor industry. If enforced broadly, the regulations could bar research labs and …

‘Ideology trumping economy’: EU body warns firms souring on China
2 years, 3 months ago

‘Ideology trumping economy’: EU body warns firms souring on China

Al Jazeera  

China’s “inflexible” COVID-19 curbs and politicisation of business are eroding its standing as an investment destination, a top European industry group has warned. The European Union Chamber of Commerce said in a report on Wednesday that firms increasingly view China as “less predictable, reliable and efficient” due to the prioritisation of ideology above the economy and pragmatic policymaking. The business …

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon
2 years, 6 months ago

China stocks: Alibaba and JD.com rally on hopes tech crackdown is ending soon

CNN  

Hong Kong CNN Business — Shares in Chinese tech companies have surged this week on hopes that Beijing is close to ending a yearlong regulatory crackdown on the industry. The gains followed a strong session for Chinese stocks on Wall Street on Monday,when the Nasdaq Golden Dragon China Index soared 5.4%. “The headline sparked speculation that Beijing was ending the …

China’s small businesses buckle under lockdowns, as expats exit
2 years, 7 months ago

China’s small businesses buckle under lockdowns, as expats exit

Al Jazeera  

Beijing, China – For Li Pei, keeping two businesses running during China’s lockdowns has been no easy task. Without clear rules, we are shrouded in uncertainty.” Li is among the millions of small business owners and entrepreneurs across China who are bearing the brunt of Beijing’s “dynamic zero COVID policy”, which has put the economy in its most precarious position …

China steers economy through challenges
2 years, 8 months ago

China steers economy through challenges

China Daily  

Editor's note: The Chinese economy faces severe challenges because the wave of the COVID-19 infections could lower GDP growth. MA XUEJING/CHINA DAILY Some foreign media say China's economic growth target of about 5.5 percent is too high, and its economic prospects are unattainable. The"2022 White Paper on the Business Environment in China" and the "2022 Special Report on the State …

China’s year of crackdowns: Party first, business second
2 years, 11 months ago

China’s year of crackdowns: Party first, business second

Al Jazeera  

Beijing’s crackdown on real estate, tech and education has made it clear it dictates the terms to private businesses. “Where companies are not seen doing that, they will face swift regulatory action.” Kyle Jaros, associate professor of global affairs at the University of Notre Dame, told Al Jazeera the Chinese Communist Party had made it clear the “party-state can dictate …

New paradigm for economic development
3 years ago

New paradigm for economic development

China Daily  

MA XUEJING/CHINA DAILY Editor's note: Maintaining economic stability and higher-quality development, and achieving "common prosperity" are priority areas for China. Under the new rubric of "common prosperity", the government's official goal for the coming decade is to create the conditions for the growth of a large, prosperous middle-income group, generate better opportunities for everyone, and elicit more "empathetic" behavior from …

China’s Big Tech Crackdown Means No Firm is Bigger Than Govt – The Largest Data Processor
3 years, 1 month ago

China’s Big Tech Crackdown Means No Firm is Bigger Than Govt – The Largest Data Processor

News 18  

The onset of the major techlash has left China watchers guessing as to what is the overarching reason for the consecutive measures taken by the Communist Party of China. However, most of them speculated that it is a part of Beijing’s plan to assimilate Big Tech into the CPC-led “Chinese Dream”, which includes financial stability, ideological stance, geopolitics, and social …

US intel warns China could dominate advanced technologies
3 years, 2 months ago

US intel warns China could dominate advanced technologies

Associated Press  

WASHINGTON — U.S. officials issued new warnings Friday about China’s ambitions in artificial intelligence and a range of advanced technologies that could eventually give Beijing a decisive military edge and possible dominance over health care and other essential sectors in America. Beijing has repeatedly accused Washington of fear-mongering about its intentions and attacked U.S. intelligence for its assessments of China, …

China passes sweeping data privacy law, stinging tech stocks again
3 years, 4 months ago

China passes sweeping data privacy law, stinging tech stocks again

CNN  

Beijing/Hong Kong CNN Business — China has passed sweeping new rules about the collection and use of personal data as Beijing toughens its regulation of the country’s tech companies. The Personal Information Protection Law — which was approved Friday by the Standing Committee of the National People’s Congress, and which will take effect November 1 — prohibits “illegally collecting, using, …

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'
3 years, 4 months ago

China's crackdown on 'powerful' tech giants may be a 'terrible own goal'

ABC  

For many years, Jack Ma was the poster child for China's technological rise, until he gave a controversial speech which led to the Communist Party turning him into "public enemy number one". Key points: Alibaba founder Jack Ma is $32.5b poorer after criticising the government His speech is regarded as a "tipping point" for Beijing's wider tech crackdown US-China rivalry …

China governance blueprint signals continuing crackdown
3 years, 4 months ago

China governance blueprint signals continuing crackdown

The Hindu  

A new government blueprint issued by China to promote “rule of law” has called for “more legal and institutional efforts” to tighten what it called “unjust” micro-economic activities, signalling the ongoing crackdown on a number of sectors is likely to continue. The document was issued jointly on Wednesday by the Communist Party of China’s Central Committee and the State Council, …

China says US is trying to mislead foreign firms on Hong Kong
3 years, 5 months ago

China says US is trying to mislead foreign firms on Hong Kong

Live Mint  

The U.S. is trying to mislead American and international companies in Hong Kong by discrediting a Beijing-imposed national security law and the Asian financial hub’s business environment, China’s Foreign Ministry said in a statement. In a statement on Wednesday, China’s Foreign Ministry office in Hong Kong said the city’s business environment for foreign investors had become safer, more stable and …

Didi, Alibaba, Tencent stocks roiled by worsening crackdown
3 years, 5 months ago

Didi, Alibaba, Tencent stocks roiled by worsening crackdown

CNN  

Hong Kong CNN Business — China is not slowing down with its historic tech crackdown. A bunch of antitrust fines The latest concerns unfolded Wednesday when China’s antitrust regulator fined several internet companies — including Didi, Alibaba and Tencent — over accusations that they violated thecountry’sAnti-Monopoly Law while making mergers or acquisitions over the last 10 years, according to the …

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown
3 years, 8 months ago

Alibaba’s record fine is a ‘warning shot’ in China’s tech crackdown

CNN  

Hong Kong CNN Business — Alibaba is trying to draw a line under accusations that it behaved like a monopoly after Chinese regulators hit the online shopping giant with a record fine over the weekend. Joe Tsai, Alibaba Group’s co-founder and executive vice chairman,told investors on Monday that the company will not appeal the 18.2 billion yuan penalty that China’s …

China warns of retaliation for NYSE's delisting of companies
3 years, 11 months ago

China warns of retaliation for NYSE's delisting of companies

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy China said Saturday that …

Is China right to tame Ant?
3 years, 11 months ago

Is China right to tame Ant?

The Economist  

T HERE ARE both petty and respectable explanations for China’s assault on Ant Group. The fintech giant was less than 48 hours away from the world’s biggest initial public offering when regulators halted it in November—the first in a series of moves aimed at taming the fast-growing firm. The petty is that Jack Ma, Ant’s outspoken founder, had offended Chinese …

What’s behind China’s Big Tech crackdown and what does it mean?
4 years, 1 month ago

What’s behind China’s Big Tech crackdown and what does it mean?

Al Jazeera  

New draft rules could affect some of China’s most popular e-commerce firms, including Alibaba and Tencent. China’s government published draft antitrust rules this week aimed at curbing monopolistic behaviour by its giant internet platforms, a move that analysts believe will lead to increased scrutiny of e-commerce marketplaces as well as food delivery and payment platforms, among others. And while President …

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