外媒:许家印被监视居住 恐引发中国经济骨牌效应

金融经济

题图:中国房地产公司恒大集团主席许家印

彭博社援引消息人士的说法称,中国最大房地产公司之一的恒大集团董事局主席许家印目前已被警方监视居住。消息一出,引起外界广泛关注。在中国房地产公司不断爆出债务危机的趋势下,有观察家指出,这一事件表明中国经济崩溃的多米诺骨牌倒下的速度正在加快。

彭博社的这条消息实质内容非常简短,只是提到许家印在本月早些时候就被警方带走,并被置于监视居住之下。报道中没有透露许家印被关押的具体地方,也没有解释警方到底是以什么名义将他带走,更没有说他已经被指控任何罪名。

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真的被抓了?

曾在中国长期从事房地产业的刘金星告诉本台,他不太相信这条消息,“它(这种做法)实际是跟现在大的政策环境相违背的。”

他分析说,恒大8月在美国纽约提起破产保护,这说明中国政府对恒大债务重组是给了一条出路的;并且中国也不想把这些房地产公司打碎,从中国现在的经济形势来看,也没有必要这样做。

“从国务院新一届的领导班子来看,对于保护民营经济的积极性,是在采取工作的;而许家印这些人其实是民营经济的标杆,大家在看着他们,”刘金星认为,如果真把许家印抓了,会在全社会的民营企业家群体中产生一种和政策相反的效应。

值得注意的是,就在两周前(9月16日),许家印下属的恒大金融财富管理深圳有限公司执行董事兼总经理杜亮在深圳被警方抓捕。几乎同一时间,恒大人寿原董事长、现已转任中融人寿代行董事长的朱加麟于9月17日被带走,目前处于失联状态。还有消息称,恒大集团前总裁夏海钧2022年回到中国就被“相关部门”控制起来,恒大集团前首席财务官潘大荣也被控制。财富杂志中文网就此指出,许家印手下四员大将都已被抓。

在这一背景下,许家印本人被警方监视居住,似乎并不显得特别突兀。前中国民营企业家胡力任向本台透露,他从恒大集团内部的职工处得知,许家印实际早已被控制,“现在消息说他被监视居住,实际就是被控制起来了。但他早就被控制了,几年前就被控制了,无法对外联系了,实际上早就失去自由了,就是从2021年开始的。”

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他认为,许家印这样的人被控制是很正常的,主要是怕恒大这样的大型企业涉及的债务问题引起金融波动,“(这些人)逃债、自杀,都有可能啊,还有资产转移,这些房地产商可能在全世界都有资产;把他们控制起来,至少可以把他们在海外的资产拿回来还债。”


图为位于深圳的恒大总部。2023年上半年,恒大净亏损人民币392.5亿元。(路透社图片)


无解的问题

作为中国最大房地产公司之一的恒大,其债务问题三年来屡见报端,在中国经济界引发强烈震动。早在2020年的9月,网上就流传着一份《恒大集团有限公司关于恳请支持重大资产重组项目的情况报告》,这份文件称,恒大债务率大幅攀升,恳请广东省政府支持其重大资产重组,否则恒大资金链断裂,将引发严重违约,产生金融系统性风险和社会风险。

当时恒大方面出来澄清,说这份文件是假的,辩称公司财务稳健,但市场都已相信,恒大已经深陷债务困境,在苦苦挣扎。后续有关恒大债务困境的消息果然接连不断。截至2022年底,中国恒大负债总额已经达到24374.1亿元人民币。

据路透社的最新消息,一些恒大集团的海外债权人表示,如果恒大不能在10月30日之前提出新的债务重组计划,他们将申请对恒大进行清盘。

但恒大的债务问题只是中国房企债务问题的冰山一角,除了恒大之外,碧桂园、花样年、佳兆业等等中国大型房地产公司,这几年也相继传出债务违约的消息。

房地产公司债务问题在这几年集中爆发,也牵扯出相关责任人的去向问题。目前身在美国佛罗里达州的胡力任告诉本台,许家印的处境并不奇怪,他所认识的多位国内房地产商都因为债务问题被控制;也有精明的房地产商早已出国,把资产转移出来,并且短期内不准备回去。

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美国华盛顿民间机构“信息与战略研究所”所长李恒青则指出,中国政府把许家印这样的房地产商控制起来的做法早已有端倪,但这对于挽救当前中国经济的危局并没有太大的作用,“系统性金融危机已经爆发了,骨牌现在是一个一个地倒,从去年到今年,关于中国的消息这么多,每天应接不暇,没有好消息,全是坏消息。”

他强调,许家印被监视居住衬托着中国经济严重下滑的背景,这只是经济向更坏情况发展的一个征兆,“这就是(经济)垮起来的时候,就像多米诺骨牌倒下在加速,所以现在实际没招。”


中国恒大集团标志(路透社资料图)


经济全局的问题

据国家统计局的数据,1—8月份,全国房地产开发投资76900亿元,同比下降8.8%;商品房销售面积73949万平方米,同比下降7.1%。并且可以看到,去年同期以来,房地产开发投资一直在下降,尤其是今年开年以来,每个阶段的降幅都比上一个阶段在增大。

与此同时,中国整体经济运行的状况也引起外界广泛担忧。据中国国家统计局的数据,除了刚刚过去的8月份实现正增长之外,全国规模以上工业企业利润从去年下半年以来连续下降,外界很多人认为中国经济可能还没有跌到底部。

刘金星认为,中国政府显然是知道经济出了问题,也显示出了要拯救经济的决心,但其经济手段可能未必有效,“就是过去四十年经济上的成功,他们太迷恋所谓宏观政策调控,他认为可以控制住。可是,这么大的经济体量,这种做法却未必是有效的。”

他强调,过去很多年中,中国政府把矛头对准房地产,对房地产进行多种调控,以及三年疫情期间进行的社会管控措施,这些原因才是导致房地产困局,以及经济下行的主要原因。趋势既已形成,虽然近来出台了一些房地产的利好政策,也未必会产生积极影响。

李恒青则担忧,经济下行的趋势继续下去,可能引发大规模的民变。

许家印与多名高层被拿下 当局对恒大收网

中国恒大集团主席许家印(中)、前首席执行官夏海钧(右)、首席财务官潘大荣(左)传都已被当局控制或带走。(中新社)


中国恒大集团主席许家印今天据报已被监视居住,他的得力助手也相继被带走调查,加上恒大的融资管道被官方堵住,债务重组也被搁置,显示中国当局对恒大开始收网,这座摇摇欲坠的金融帝国面临瓦解。

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彭博今天报导许家印已遭监视居住。陆媒观察者网引述知情人士证实该消息,并表示许家印现在位于北京的一处居所,已被限制部分行动自由。

中国社群21日盛传许家印被抓,他与保镳一度激烈反抗。许家印因此没有出席26日的恒大周例会,改由行政总裁肖恩主持。

陆媒财新英文网24日报导,中国恒大前首席执行官夏海钧、首席财务官潘大荣均已被控制或带走。夏海钧此前是恒大第二号人物。

据知情人士透露,中国恒大集团及其子公司的多名现任和前任高层已接受调查,当局正在调查这家陷入困境的企业集团是否违反资金使用规定。

消息人士称,潘大荣最近被中国大陆当局拘留,夏海钧在2022年中左右返回大陆后也对其实施了限制。两人均负责这家房地产巨头的财务业务,并于去年7月因涉嫌卷入银行存款丑闻而辞职。

在此之前,恒大集团前执行总裁柯鹏今年1月被警方带走调查。他涉及深圳的旧改项目,曾经被视为恒大最重要的“压舱石”。

恒大财富总经理杜亮等人16日被深圳公安采取刑事强制措施;恒大人寿前董事长朱加麟21日传出被调查。这两家公司都被视为许家印的“钱袋子”,为恒大自身或关联的项目提供融资。

陆媒钛媒体昨晚报导指出,夏海钧等人被有关部门控制,是一个非常明显的信号,说明相关部门对恒大的处置,或已到了收网的阶段,即使是以前离职的高管,也难逃其责。

报导指出,恒大的融资管道被堵上,债务重组也被搁置,显示当局开始收网。

中国恒大24日晚间公告称,鉴于恒大地产集团正被立案调查,目前的情况无法满足新票据的发行资格。

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报导指出,中国房企发行票据是有相关规定的,“境内企业境外发行证券和上市管理试行办法”第8条规定,存在五种情形不得境外发行上市,其中之一是“境内企业因涉嫌犯罪或者重大违法违规行为正在被依法立案调查,尚未有明确结论意见的。”

而恒大公告中提到“恒大地产集团正在被立案调查中”,是在今年8月16日收到中国证监会下发的立案告知书,因公司涉嫌讯息披露违法违规,中国证监会决定对恒大地产立案。

报导强调,其实恒大地产被立案调查后,恒大就知道不能发行新票据。无法发行新票据,就是没法再发债借钱,意味着从融资端堵住了恒大的输血管道,也意味着恒大境外债务重组或将以失败告终。

此前,恒大债务重组表决会议一再延后,9月22日直接告称,由于销售情况不如预期,债务重组会议将不会举行。

陆媒北向财经报导也指出,恒大财富负责人杜亮16日被警方采取强制措施;恒大债务重组会议22日被搁置;恒大24日公告无法满足新票据的发行资格,“如同三把利剑,每一把都直指恒大的命门。”

报导指出,短短一周时间,如此密集的动作,表明高层已经下决心要解决恒大的问题。许家印会迎来什么样的结局,其实答案早就已经明了,自从他手下3员大将被抓,一切就只是时间问题了。

报导研判,恒大金融帝国将轰然倒塌,累累废墟之下,是无数普通人的血汗,这一切应该有人负责。恒大的债务问题,极大机率将会以专案或者地区为个体,分拆解决。透过国资或者民企进入,拆分打包,最后分而食之。

来源: RFA/中央社

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Artificial intelligence tools can replace much of Wall Street’s entry-level white-collar work, raising tough questions about the future of finance.

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UK food production at threat after extreme flooding

Record-breaking rainfall leaves fields under water, threatening this year's harvest yield and quality.

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Even in peaceful countries be ready for a siren blast

All sorts of organisations have sirens ready for industrial accidents and other emergencies.

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Share Your Story About the Organ Transplant System

We want to hear from doctors, nurses, technicians, patients and others with experience in the system. Tell us your experiences below.

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Government should counter misinformation on TikTok - MPs

A committee says the government should be more relatable in its communications with the public.

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Prosecutors Say Shohei Ohtani’s Interpreter Stole $16 Million From Star

The interpreter, Ippei Mizuhara, was charged with bank fraud, after prosecutors said he stole money to pay his gambling debts.

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China GDP: what is needed to achieve the ‘very challenging’ 5% economic growth goal for 2024?

Beijing has defended China’s ambitious goal of growing the economy by ‘around 5 per cent’ this year, insisting it matches the potential for economic growth, but analysts say there are still issues to be addressed.

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Healthy Returns: J&J cell therapy gains new edge over Bristol Myers rival

J&J's cell therapy is now approved for an earlier line of treatment than a competing drug from Bristol Myers. Meanwhile, a look at Mount Sinai’s approach to AI.

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Ford prepares to resume F-150 Lightning shipments, drops prices on some models

The included models are expected to ship later this month for between $2,000 and $5,500 less than before the automaker halted shipments.

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Why car insurance costs are skyrocketing and leading to higher inflation

On a monthly basis, car insurance prices as part of the consumer price index (CPI) rose by an unadjusted 2.7%, pushing the year-over-year increase to 22.2%.

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O.J. Simpson, NFL Star Acquitted of Murder, Dies of Cancer at 76

He ran to football fame and made fortunes in movies. His trial for the murder of his former wife and her friend became an inflection point on race in America.

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Jackson Hinkle Rides Rage Over Israel to Prominence

Jackson Hinkle’s incendiary commentary has generated over two million new followers on X since October — a surge that some researchers say is aided by inauthentic accounts.

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Taylor Swift’s Music Returns to TikTok Despite Ongoing Dispute With UMG

Songs by the pop singer reappeared on TikTok despite the platform’s ongoing licensing dispute with Universal Music Group, which releases Swift’s music.

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European Central Bank Signals Coming Rate Cut, Setting Up Split With Fed

The bank held rates for the fifth consecutive time, but said confidence was growing that inflation would return to its target and it could ease its stance soon.

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What to expect from bank earnings as high interest rates pressure smaller players

JPMorgan Chase, the nation's largest lender, kicks off earnings for the industry on Friday, followed by Bank of America and Goldman Sachs next week.

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Vietnamese Real Estate Tycoon Sentenced to Death in $12 Billion Fraud Case

Truong My Lan received the death penalty as Vietnam’s Communist Party cracks down on corruption in the fast-growing Southeast Asian economic hub.

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Dish Soap to Help Build Planes? Boeing Signs Off on Supplier’s Method.

An F.A.A. audit found Spirit AeroSystems using Dawn soap and a hotel key card in the manufacturing process. The company says its techniques were inventive, not careless.

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Gold Bar Sales Are Surging at Costco. Why?

Costco may be selling up to $200 million worth of the bars each month, according to a Wells Fargo analysis. The bars sell out quickly, and customers are trading advice online about how to get them.

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Moderna halts plans to build Kenya vaccine plant as Covid shot demand plunges

Moderna's decision aligns with its broader effort to cut costs by resizing its Covid vaccine-manufacturing footprint.

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Global Stockpile of Cholera Vaccine Is Gone as Outbreaks Spread

One company is going to great lengths to build it up, but it will be years before it returns to the minimum level.

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Soft Landing or No Landing? Fed’s Economic Picture Gets Complicated.

Stubborn inflation and strong growth could keep the Federal Reserve wary about interest rate cuts, eager to avoid adding vim to the economy.

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Postmistress jailed while pregnant rejects ex-Post Office boss' apology

Seema Misra was pregnant when she was wrongly jailed after being prosecuted by the Post Office.

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China’s low inflation set to be ‘long-term phenomenon’: 4 takeaways from March’s data

China reported another low level of consumer inflation in March, while factory-gate prices fell for the 18th straight month.

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Regulator fears big tech firms' power in AI market

CMA points to "interconnected web" involving Google, Apple, Microsoft, Meta and Amazon.

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Goldman Sachs promotes head of strategy and investor relations, Carey Halio, to global treasurer

Halio's new role encompasses authority over the firm's more than $1.6 trillion balance sheet. She'll report to Chief Financial Officer Denis Coleman.

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Buffalo Wild Wings leans into Go takeout format as a third of sales move off premises

The chicken wing category saw its sales surge during the pandemic, and off-premise orders now account for a third of BWW's sales.

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USPS Proposes Another Stamp Price Increase

If a regulatory body approves, a nearly 8 percent rise in postage will take effect in July. It would be the latest of several price hikes since 2021.

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China’s Suzhou city plans supercharged cross-border e-commerce business after Shein and Temu success

The municipal government of the city in eastern Jiangsu province unveiled a three-year plan to attract cross-border e-commerce projects.

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Lianjia, China’s largest real estate brokerage, opens Manner coffee shop in Shanghai outlet to brew up home transactions

Lianjia has teamed up with coffee chain operator Manner to open a cafe in one of its outlets in Shanghai, launching a crossover marketing campaign to drive transactions amid lack of homebuying interest.

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City University of Hong Kong calls for broader ESG reporting coverage, says all financial institutions licensed by SFC should submit emissions data

All financial institutions licensed by the SFC should be required to submit ESG reports for the development of a comprehensive ecosystem of sustainability disclosures, City University of Hong Kong says.

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Ohtani’s Former Interpreter Is Said to Be Negotiating a Guilty Plea

Ippei Mizuhara stands accused of covering his gambling debts by stealing millions of dollars from Shohei Ohtani’s bank account.

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Axios Sees A.I. Coming, and Shifts Its Strategy

“The premium for people who can tell you things you do not know will only grow in importance, and no machine will do that,” says Jim VandeHei, C.E.O. of Axios.

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The Odds for a Summertime Fed Rate Cut Are Dwindling

Hotter-than-expected inflation has upended bets on when the Fed will start lowering interest rates, and could complicate President Biden’s re-election bid.

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Is the Boom-and-Bust Business Cycle Dead?

There is a growing view that the U.S. business cycle has changed (for better) in a more diversified economy. To some, that sounds like tempting fate.

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Now Arriving at an Airport Lounge Near You: Peloton Bikes, Nap Pods and Caviar Service

In recent months, a handful of exclusive credit card lounges have opened in airports in the United States. More are coming this year.

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China protests Europe’s new wind-turbine probe and report alleging ‘distortions in the economy’

State subsidies are in Brussels’ cross hairs as the world’s largest windpower producer exports low-cost turbines to quench global demand for clean power.

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Beware what you wish for: calls for China to loosen grip on the yuan may rock emerging and developed markets alike, strategists say

China’s managed currency is seen as an anchor for its regional peers, meaning small moves can have an outsize impact.

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China inflation: disappointing price indicators cast shadow on target, fuel calls for swift policy easing

China’s consumer price index grew only slightly in March, while factory-gate prices fell for the 18th straight month, underscoring the need to speed up interest rate cuts, analysts said.

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How AI is helping to prevent future power cuts

Artificial intelligence software is being used to predict electricity demand and supply.

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China’s gender gap widening post-pandemic, with ‘she-cession’ still real threat to economy

Study finds disparity between men and women has grown in China, with researchers seeing the ‘magnitude of the ‘she-cession’, where the Covid-induced economic slowdown disproportionately impacted the female labour force.

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Markets Slide After Unexpectedly Strong Inflation Report

Stocks fell and bond yields jumped as investors reassessed when the Federal Reserve may begin cutting interest rates.

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Student Aid Woes Stalk Education Secretary in Appearance on Capitol Hill

In two hearings, House lawmakers scrutinized Miguel Cardona’s record over persistent problems with the new FAFSA form.

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Inflation Was Hotter Than Expected in March, Unwelcome News for the Fed

The surprisingly stubborn reading raised doubts about when — and even whether — the Federal Reserve will be able to start cutting interest rates this year.

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March’s Hot Inflation Report is a Political Blow to Biden

The president’s approval ratings have been hurt by rapid inflation and rising interest rates.

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Sierra Space CEO unveils new satellite product ahead of Dream Chaser launch, possible IPO

CEO Tom Vice tells CNBC that the company's NASA-contracted space plane Dream Chaser is on pace to make its first flight in the fourth quarter.

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Macy's settles proxy fight with activist Arkhouse, adds two of the firm's nominees as directors

The reshuffle moves Macy's closer to a deal that could take the 165-year-old department store private.

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Microsoft and NetEase to Relaunch Warcraft and Other Games in China

The deal between the gaming company Blizzard, now owned by Microsoft, and the Chinese giant NetEase renews a partnership that lapsed more than a year ago.

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Housing Costs Continued to Rise Faster than Before the Pandemic

It will be difficult for the Federal Reserve to rein in inflation fully if shelter costs continue to run hot.

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Department stores face another squeeze. This time, with store credit card revenue

Store credit cards allow retailers to drive repeat purchases and make a cut of cash. Even before a new CFPB ruling, the revenue segment was under pressure.

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Delta forecasts quarterly earnings ahead of expectations, focuses on efficiency as growth steadies

CEO Ed Bastian said hiring has slowed after the company added staff aggressively following the pandemic.

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The Politics of a Steel Deal Hangs Over Biden’s Japan Summit

The president’s effort to court voters in crucial swing states is influencing economic and trade policy, and worrying longstanding allies.

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China eyes home-grown aircraft engine, larger commercial planes with big equipment upgrades by 2027

Beijing’s enhanced emphasis on stronger ‘productive forces’ is seen giving China a lift in its pursuit of aviation self-sufficiency as external pressure mounts.

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Arizona’s 1864 Abortion Ban: The History Behind the 160-Year-Old Law

The state’s Supreme Court ruled that the 1864 law is enforceable today. Here is what led to its enactment.

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How a Case Against Fox News Tore Apart a Media-Fighting Law Firm

Tensions had been brewing for years inside Clare Locke, a top defamation law firm. Then came the biggest defamation case of them all.

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The rich are getting second passports, citing risk of instability

The top destinations for supplemental passports among Americans are Portugal, Malta, Greece and Italy, according to a leading law firm.

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China scraps ownership caps on some telecoms services, courting foreign capital resurgence

China has unveiled new foreign ownership rules for certain telecommunications services, a move to generate investment and confidence as it strives to meet broad economic goals.

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New York Community Bank’s online arm is paying the nation’s highest interest rate

NYCB raised the rate offered via its online arm My Banking Direct to 5.55%, higher than any other U.S. savings account, weeks after needing a capital infusion.

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These 10 retail brands are the fastest growing in the U.S., Yelp says

Chains owned by publicly traded restaurant companies accounted for half of the top 10 fastest-growing retail brands in the U.S. last year, according to Yelp.

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EU investigation into Chinese wind turbine exporters could lead to higher costs, slow down clean energy projects in bloc, analysts say

An anti-subsidies investigation into Chinese wind turbine manufacturers by the EU could saddle the bloc’s renewable project developers with high costs and slow down their decarbonisation efforts, analysts say. The impact on Chinese firms could be limited.

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Price of Gold Sets Series of Record Highs, Usually a Sign of Unease

The move has puzzled Wall Street, as it comes as the outlook for the economy has improved and inflation has generally cooled.

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¡Vámonos! Dora Is Back for a New Round of Exploring

Boots, Map, Swiper and Backpack all return too, in a new “Dora” that includes a lot more Latin music and Spanish language.

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China creating ‘unfair competition’ for foreign players, German firms say in survey

German businesses operating in China have said they face ‘unfair competition’, complicating the already tense relationship between the two countries in advance of a visit from Chancellor Olaf Scholz.

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China hits back after Fitch Ratings downgrades credit outlook, Beijing says local debt risks are controllable

Ministry of Finance says it is a ‘pity’ to see Fitch Ratings revise the outlook on China’s sovereign debt from stable to negative due to concerns over property and public finance stress.

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Toyota's first new 4Runner SUV in 15 years will offer a hybrid engine

Toyota Motor revealed a new 4Runner SUV for the first time in nearly 15 years — completing a recent redesign of the automaker's current trucks and SUVs.

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Jack Ma steps into ‘mistakes’ brouhaha to boost Alibaba’s morale in staff memo, eliciting support from Chinese Embassy in US

There is nothing to fear from missteps because nobody is error-free, Ma wrote, after his co-founder Joe Tsai touched on Alibaba’s mistakes in a podcast interview, generating a frenzy on China’s social media.

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China clears first eVTOL aircraft for production as ‘low-altitude economy’ takes wing

China has granted production approval for its first electric vertical take-off and landing vehicle, cementing its progress in the rapidly expanding field of manned and unmanned flight at low altitudes.

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China’s stockbrokers see salaries slashed for second year amid slumping market, crackdown on flashy finance executives

China’s stockbrokers took another pay cut in 2023 as the double whammy of a slumping equities market and a government crackdown on corporate extravagance eroded the incomes of financial workers. Things don’t look much better this year, one fund manager says.

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China turns up heat with regulators, banks under the microscope amid focus on financial revamp

China will inspect vital finance and economy-related entities as part of a round of discipline inspections amid Beijing’s focus on a financial revamp.

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As world erects barriers against Chinese exports, what about free trade?

Slamming China for capitalising on its manufacturing advantages to produce competitively priced exports is hypocritical and against the principles of free trade.

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Michigan Vascular Clinics Shutting Down After Scrutiny

The clinics’ owner, Dr. Jihad Mustapha, who called himself the “leg saver” but whose procedures sometimes preceded amputations, was a focus of a Times investigation last year.

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Former Bowlero exec says company threatened to report him to FBI in proposed extortion, retaliation suit

Bowlero's former longtime chief information officer wants to sue the company for retaliation and extortion and claims he was fired because of his age.

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Why Oil Prices Have Been Rising Recently

The increase this year, prompted by geopolitical worries and supply constraints, has sent gasoline prices higher and could hamper efforts to tame inflation.

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GM's Cruise to relaunch vehicles with human drivers in Phoenix

GM's Cruise self-driving car unit will relaunch for the first time since October beginning with a small fleet of human-driven vehicles in Phoenix.

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Barstool's Dave Portnoy won $2.7 million betting on UConn in NCAA men's final

DraftKings reported a record NCAA tournament, with sports betting now legal in 38 states plus Washington, D.C.

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3G Capital quietly exited its Kraft Heinz investment last year

3G Capital, which helped to engineer the Kraft Heinz merger, had seen its influence at the company wane.

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Why richer, older China needs changes to its social contract

Chinese policymakers need to build out rather than restrict the social safety net of pensions and healthcare for the elderly portions of the population. Looking ahead, the number of people paying taxes needs to increase in a manner that raises revenue but is fair and ideally more progressive.

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Janet Yellen in China: how far did trip move the ball for US-China relations as presidential election looms?

Treasury Secretary Janet Yellen ended her week-long trip to China on Tuesday, saying the US had been able to ‘move the ball’ on key issues, while analysts said the visit had focused on ‘practical short-term issues’.

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China’s Premier Li assembles economic experts ahead of hotly anticipated first-quarter data release

Li Qiang’s chat with business leaders and trusted economists puts the onus on what can be done at home while the external environment becomes ‘increasingly complex, severe’.

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How an F1 simulator could save car firms 'millions'

Engineers in a village near Bristol make the fastest-reacting car simulator in the world

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China pledges US$69 billion in credit backing for tech after resurrecting dormant financial tools

China’s central bank will incentivise the extension of credit for tech-focused companies and equipment renovations – goals named as a top priority by economic policymakers for the coming year.

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New-energy vehicles to make up 50% of China’s new cars sales by 2030, Moody’s forecasts

New-energy vehicles will make up about half of new car sales in China by 2030, as state incentives and expanding charging stations win over more customers, Moody’s Investors Service says.

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Boom times for US green energy as federal cash flows in

The US government has directed unprecedented sums of money at green energy projects.

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China EV price war: Tesla rival Li Auto says cheapest model yet to ‘bring you happiness’, will launch next week

Li Auto, Tesla’s nearest rival in mainland China, plans to start selling a new, more economical model aimed at families amid a price war in the country’s electric vehicle market.

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Shanghai’s data flow centre walks the talk, promises international standards, but China’s foreign firms need ‘faster, wider roll-out’

Data flow service centre in Lingang free-trade zone in Shanghai will adopt internationally recognised standards and aim to help entities navigate requirements amid China’s push to reassure and retain foreign firms.

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Janet Yellen in China: ‘difficult conversations’ and an overcapacity spat put hopes for common ground in question

US Treasury secretary says Beijing needs to make policy changes, while warning that Washington and its allies fear ‘global spillovers’ from China’s trade actions.

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HSBC summit: idea that China is ‘uninvestible’ is ‘shallow and lazy’, Primavera Capital’s Fred Hu tells panel

The future of China’s economic growth depends on strong innovation in the technology sector and – despite the current headwinds – investors would be wrong to sleep on the country’s potential, industry leaders says.

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As Janet Yellen decries China’s EV overcapacity, commerce minister calls such accusations ‘groundless’

Speaking in Paris to Chinese makers of electric vehicles and lithium batteries, commerce chief Wang Wentao vows Beijing will ‘fully support and defend’ their rights as Western pressure mounts.

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‘Fitness centre China’: world champion in development can do more, solve overcapacity, top business leader Joerg Wuttke says

What does one of the most influential business leaders think is the magic of China, and why could hubris rear its head if lessons are not learned from the perils and pitfalls of other economies?

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Chinese travellers spend big to mark most profitable Ching Ming Festival since 2019

Three-day holiday ending Saturday logs more than 119 million domestic trips and close to 54 billion yuan in revenue, well over pre-pandemic levels.

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Xiaomi’s maiden EV, selling at a loss, turbocharges price war forcing China’s small players out of business

Strong sales of smartphone vendor Xiaomi’s first electric car have exacerbated a price war in the sector that is squeezing the profit margins of most players in China.

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US should not politicise trade issues, China’s Li Qiang tells Janet Yellen in response to ‘overcapacity’ concerns

Premier Li urges Washington to view industrial capacity ‘objectively’ during meeting with visiting US Treasury Secretary Yellen, who raised issue of excessive Chinese exports, especially new energy vehicles and solar panels.

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Expect more proposals on ESG issues in China, as reforms unleash minority shareholder activism, Allianz GI says

The Chinese stock market is poised to see the emergence of shareholder resolutions on ESG issues next year, as incoming corporate governance reforms start allowing many more minority owners to present proposals for voting, a stewardship expert says.

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China’s local government debt woes hurting private firms, creating grass-roots distrust: academic

Wuhan University professor Feng Chuan says local government debt problems in China have torn apart the fundamental trust system that upholds social governance order.

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Ibiza locals living in cars as party island sees rents soar

"All the work you could want, but there isn't anywhere to live," say those struggling on the island.

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China pushing to break down payment barriers for visitors, with 90,000 overseas buyers set to flock to Canton Fair

Tackling payment issues is a small but important part of Beijing’s broader efforts to bring down barriers for foreigners in China, with a particular focus on the start of the Canton Fair later this month in Guangzhou.

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Lived-in home deals in Shanghai hit 20-month high in March, but agent says bull run may be ‘short-lived’ amid economic concerns

Transactions involving lived-in homes in Shanghai shot up in March as owners offered discounts to bargain hunters, but the outlook for the city’s housing market remains cloudy due to concerns about a bleak economy.

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EU follows US move to assess China’s dominance of legacy chips

Brussels launches survey to understand its exposure to Chinese semiconductors that power everyday items from cars to televisions, matching an American initiative that drew stern rebuke from Beijing.

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Janet Yellen in China: overcapacity high on the agenda as secretary takes swipe at exports

China’s overcapacity is all but certain to be the main point of contention in coming talks with Janet Yellen, as the US Treasury secretary has begun her trip with strong words on the subject.

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Despite lifting Australia wine tariffs, China’s market offers no lifeline for global industry

China lifted its anti-dumping and anti-subsidy tariffs on Australian wine at the end of last month, but industry executives say the market, and domestic consumption, are struggling to recover.

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China’s yuan: central bank sees resolve for stable currency, stimulus tested as Fed holds firm on rates

In an uncertain monetary environment where the US Federal Reserve has yet to announce interest rate cuts, China’s central bank is seeing potential moves to increase activity constrained by pressures on the yuan.

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As Chinese businesses launch operations in Mexico, managers learn cross-cultural lessons

Setting up shop in Mexico helps avoid US tariffs, but Chinese companies still must confront major concerns about labour costs, profitability and cultural differences.

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Janet Yellen in China: US treasury secretary aiming to keep trade relations on firmer footing

US Treasury Secretary Janet Yellen arrived in southern Chinese city of Guangzhou Thursday evening on the first leg of her week-long trip.

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