国泰航空又出事了。这家公司过去几年出了不少事情。说到国泰航空，很多人可能并不真正了解。很多人可能以为这是一家中国公司，其实并不是如此。国泰航空背后三大股东，分别是太古集团、中国航空、卡塔尔航空，而真正占据控股地位就是太古集团了。
太古集团可是一家非常庞大的财团，业务种类非常繁多，涉及地产、航运、航空、饮料、工程等等。很多人可能不知道，在中国瓶装的可口可乐业务就是属于太古集团的。另外很多人喝咖啡会下的方糖也是太古生产的。在中国很多知名的地产项目也是太古集团开发的，比如说成都著名的远洋太古里，还有广州著名的太古汇。
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太古集团背后则是一个隐形豪门，那就是英国的施怀雅家族了，这个家族已经富过了六代人，可是如今你在全球任何一个财富榜上都看不到他们的名字。可是他们家族光是地产收租的收入每年就超过了100亿。整个家族至少资产得数千亿，甚至是更多。可是财富榜却始终无法追踪他们的财富。
100多年之前，中国还是处于清朝的时候，施怀雅家族就到中国经商了。那个时候英国是日不落帝国，很多英国人也随着英国的舰队在全球各地去做生意。事实上在200多年之前，施怀雅家族在英国的利物浦成立了公司，并且通过贸易生意积累家族的财富。
到了清朝末年的时候，施怀雅家族开始来到了远东发展，他们把中国的茶叶、陶瓷、丝绸等商品卖回到欧洲，赚取了巨额的利润。1866年，施怀雅家族收购了布鲁尔洋行，并且改名为太古洋行。
到了19世纪后期的时候，太古洋行控制的航运生意，已经成功控制了中国长江领域的上下游了。当时可以跟太古洋行对抗的只有中国本土的轮船招商局了。之后施怀雅家族又陆续进入了航空、地产、工程、饮料等等领域，获得了巨大的成功。
他们也把总部搬到了香港，并且在香港扎根发展。50年代之后，太古洋行已经跟怡和洋行等齐名，成为了香港有名的四大洋行。
利用香港人口暴涨的时候，太古也是积极投入房地产生意，在五六十年代赚得是盆满钵满。在房地产获得成功之后，他们又积极投资商业地产，开发了一系列优秀的商业物业，同时他们在80年代之后，把投资触角再次涉及内地。
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如今太古集团年营收超过了800亿，利润超过了300亿，依然是全球最大的财报之一。在太古集团的支持下，施怀雅家族也是成功富过了六代人。如今太古集团依然是施怀雅家族成员控制的。光是在地产板块，他们一年的租金就在120亿左右。
香港曾经大名鼎鼎的四大洋行，会德丰跟和记黄埔都被华资给收购了。会德丰在1985年被包玉刚给收购了。几年之前，包玉刚的女婿吴光正也把会德丰跟私有化了。和记黄埔则是在1978年被李嘉诚给收购了，成为了李嘉诚家族成功。
2015年的时候，李嘉诚把长江实业跟和记黄埔成功重组，变成了如今的长和集团跟长实集团。也就是说如今香港四大洋行的时代已经一去不返了，而且也就剩下怡和跟太古这两家公司了。
可是不得不说怡和跟太古依然是实力非常强大，每年的利润都是数百亿级别的。在中国本土也找不到几家可以跟他们对抗的私人企业了。
其实施怀雅家族这样的豪门才是真正的豪门，他们不会出现在财富榜上，但是他们却是真正的有钱，而从200多年前开始到现在，已经富了六代人了，在中国很难找不到这样的家族。
国泰航空的麻烦，不止一个
国泰航空这次惹上了大麻烦。5月22日有网友实名举报国泰航空空乘歧视非英语乘客，在其放出的一段视频中，有疑似为空乘人员的声音用英文说“如果你不会说毛毯的英文，那你就没办法拥有毛毯（If you cannot speak blanket, you cannot have it）”，周遭还传来疑似其他空乘的笑声。
在这之后，国泰航空从22日晚到24日，连发三条道歉声明，从一开始表示“将严肃调查处理”，到“暂停有关人员飞行任务”，再到“对涉事空中服务员予以解聘”，期间，国泰航空行政总裁林绍波公开致歉，全程用普通话表示将作全面检讨，但也难消众怒。
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一条毛毯、三位空乘、无数批评，就这样国泰航空再次深陷舆论漩涡。
其实过去几年，国泰航空可以说是热搜上的常客。一位知名电视主持人曾公开喊话国泰航空，“真是对不起这个名字……还是善意的提醒一句吧，no zuo no die”。
除了事件本身，外界对国泰航空还有许多好奇——这到底是谁的公司？过去三年活得如何？在国内航空公司中又属于怎样的存在？
1
谁的国泰航空？
成立于1946年的中国香港，国泰航空在过去77年时间里一直以中国香港为总部。2019年以前国泰航空曾是全球第八大国际客运航空公司及第三大国际货运公司。
资产规模上，截至2022年末，国泰航空连同其附属公司共拥有222架飞机，旗下客运及货运航线前往全球38个国家和地区共计82个目的地，其中包括位于中国内地的14个目的地。
人员方面，国泰航空及其附属公司在全球有2.12万名员工，其中在香港雇有员工约1.74万人。
那么国泰航空的背后是谁？
最新数据显示，国泰航空最大股东是持股45%的太古股份，其次是通过众多公司合计间接持股29.99%的中国国航（国泰航空也持有中国国航16.26%的股权），且太古股份和中国国航为一致行动人，之后是持股9.99%的卡塔尔航空和持有6.47%优先股的香港财政司。
在持股比例最高的太古股份背后，是拥有180多年历史的英国太古集团，太古股份只是集团下属的一个投资控股公司，主要经营地产、饮料和航空三个重要业务板块。
2022年年报显示，太古股份全年收入914.77亿港元，净利润41.95亿港元，自2020年受外部环境影响大亏百亿后，正处于业绩逐步修复的阶段。
具体来看，太古地产板块拥有多个购物商场，包括香港太古广场和太古坊，是香港最大的商用物业业主和零售物业运营商之一，在内地的购物商场则遍布北京、广州、成都、上海、西安和三亚，比如大家所熟知的“三里屯太古里”“成都远洋太古里”“前滩太古里”“颐堤港”等等。
太古股份的饮料业务同样规模可观，截至2022年末，其在大中华区、美国和柬埔寨的专营区域经销可口可乐公司系列产品，受众达到7.82亿人口，经销品类包括21种碳酸饮料品牌和37种非碳酸饮料品牌。
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2022年内太古可口可乐刚刚收购了柬埔寨及越南的可口可乐专营业务，将其瓶装业务扩展至东南亚，还重组了中国内地的不含汽饮料生产业务。
航空业务方面主要就是国泰航空及其附属公司，但近几年，受大环境等因素影响，始终是一个持续亏损的存在。
2017年以来太古股份饮料业务带来的收入逐渐成为业绩主力，2022年创收542.23亿港元，占比近六成，其次是137.88亿港元和138.28亿港元的房地产业务和航空业务，占比均在15%左右。
已有业务之外，太古公司还瞄准了私营保健服务领域，在年报中披露，“未来将继续在私营保健服务领域寻求投资机遇，特别在中国内地的主要城市群一带及东南亚。”
太古股份的这些收入，都从哪些地方赚来的呢？
按地区划分收入来源，太古股份2022年的收入中，有38%来自内地，19%来自香港，合计占比达到57%；如果剔除国泰航空和环球海洋业务，太古股份经常性盈利中则有46%来自内地，34%来自香港，合计占比达到80%。
在国泰航空2020年开始持续亏损的背景下，来自内地和香港的经常性溢利成为太古股份相当重要的业绩支撑。
截至当前，太古公司已经成为香港规模最为庞大、历史最悠久的雇主之一，在香港聘用超2.9万名员工，在内地的员工人数则超过3.5万人，全球员工接近8万人。
2
亏损三年，最难的日子刚刚过去
就像全球众多航空公司一样，过去三年对国泰航空的打击也是巨大的。
业绩趋势来看，直到2019年，国泰航空收入虽有一定波动，但整体已基本稳定在千亿港元的规模，净利润方面有一定波动，但亏损年份也相对有限。
2020年受客观环境影响，国泰航空收入大跌56.13%，直接拦腰砍半，成本却居高不下，全年亏损218.79亿港元，这之后的2021年和2022年都属于收入挣扎上涨，亏损努力收窄的“回血”阶段。
年报显示，2022年下半年国泰航空业绩已有大幅改善，在产生正向现金流的同时还有所盈利，2022年12月，其可载客量已相当于上半年的八倍，但其实还只是2020年前的三分之一；可载货量则在2022年末达到2020年前的三分之二。
事实上，内地对国泰航空近几年的业绩有越来越高的重要性。
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由内地经香港枢纽前往澳洲、英国及美国等长途航点的过境客运量（尤其是学生），成为2022年国泰航空的重要客运来源。
资金方面，国泰航空2022年的带息债务整体规模有所减少，但182.77亿港元的流动资金相比146.43亿港元的流动带息债务，也只是小幅盈余，其整体债务净额与股东权益之比依然达到0.92，意味着每一元的股东投入，都对应着0.92元的带息债务。
年内国泰航空由经营活动产生的现金流量净额为178.36亿港元，如果要覆盖588.29亿港元的借款净额，需要3.3年才能还完，而这还是在2020年重组方案实施完毕的情况下。
2020国泰航空曾进行过一系列重组，过程中向香港特别行政区政府发行了195亿港元的优先股及分离认股权证，另由香港特别行政区政府提供78亿港元的过渡性贷款，同时向当时的股东增发117亿港元股份，这才免于破产度过了难关。
虽然目前仍处于业绩亏损、资金紧张的状态，但如果相比国内其他航空公司，国泰也不是最惨的。
▲（林绍波。图源/视觉中国）
以2022年和2019年的收入比较，国泰航空已经恢复至四成有余，高于国航、东航、海航30%-40%的水平，但次于南航、华夏航空、春秋航空和吉祥航空，居于中位。
对比当前亏损金额与总收入，国泰航空2022年净利润为-63.98亿元，净利率为-14.03%，是上述多家航空公司中亏损幅比率最低的。作为对比，国航、东航、南航的亏损金额均在300亿元以上，亏损幅度则在37%至78%之间。
所幸国内各大航空公司2023年以来的运营数据都在好转，国航、南航、东航和海航的最新一季报显示亏损已较上年同期有大幅收窄，国泰航空最新4月份客运量数据也显示，4月份载客138.12万人次，单日最高人次5.32万人，为2020年以来新高。
https://all24x7.com（复制到浏览器上打开）
只可惜业绩刚刚有明显好转，就发生了如此不愉快的事情。
3
业绩和管理，都需要“重生”
事实上这已经不是国泰航空首次出现类似事件，2019年一位知名电视主持人就曾公开喊话国泰航空，“听说有些人一听到普通话就假装听不懂……no zuo no die”。
但多年过去国泰航空在这方面的管理显然并未有明显改善。
此次事件还有一个细节，即发布视频的博主表示，自己此次搭乘从成都飞往香港的国泰航空CX987航班，使用的机票其实是大湾区赠票。与此对应的，是2023年初香港机场管理局推出的活动，计划派发50万张机票给来自各地的旅客，其中就包括从成都飞往香港的航班。
目前经过多方督促整改，有网友表示自己乘坐24日国泰的航班时，乘务员已经在挨个问机上旅客要不要毛毯，播报则用的是英语、粤语和普通话。
过去几年，国泰航空可以说是热搜上的常客，且多与负面信息相关。
2020年10月，在因管理不善而在全球最佳航空公司排名中跌出三甲后，国泰航空宣布了重组计划，裁员规模达到8500个，占集团总人数的24%，这直接将香港失业率推升0.1个百分点。
在2022年年报开头的主席致函中，国泰航空主席贺以礼表示，“我们一直透过加强香港与内地，及世界各地的联系推动香港经济发展，角色举足轻重。”
在经济逐步恢复、旅客量快速上涨的当下，国泰航空显然正处于能够快速改善业绩的关键阶段，但如果从更长期的视角来看，如何在更大范围上进行“自我修复”，也是国泰航空需要面对的问题。
来源: 市界/担扑
翻译：
东西问丨马新：东西方不同文明之路有何基因差异？
中新社济南12月9日电 题：东西方不同文明之路有何基因差异？
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中新网南昌12月9日电 (记者 李韵涵)12月9日，江西省数字经济学会数据安全专委会成立大会在南昌大学举办，该专委会的成立将推动数据安全关键技术的研发和应用，培育壮大数据安全产业。
Read more中华文明探源工程最新成果显示：对古国时代文明内涵的认识更加深化
中新社北京12月9日电 (记者 应妮)中国国家文物局9日在北京发布的中华文明探源工程最新成果显示，对古国时代文明内涵的认识更加深化。
Read more杭州医学院党委委员、副院长傅志敏接受审查调查
中央纪委国家监委网站讯 据浙江省纪委监委消息：杭州医学院党委委员、副院长傅志敏涉嫌严重违纪违法，主动投案，目前正接受浙江省纪委监委纪律审查和监察调查。
Read more第十二届广东省创意机器人大赛打造机器人音乐会
中新网广州12月9日电 (记者 王坚)逾百支队伍超500名师生9日齐聚广州，在第十二届广东省创意机器人大赛上展开激烈角逐。
Read more鲁青两省专家齐聚高原共推黄河两岸生态旅游可持续高质量发展
中新网西宁12月9日电 (记者 孙睿)“青海和山东，作为黄河流域的重要节点，都拥有得天独厚的生态资源和丰富的文化底蕴。生态旅游作为当今世界旅游业的热点和发展方向，有着巨大的发展潜力。”山东大学管理学院副院长黄潇婷9日通过视频表示。
Read more浙皖闽赣齐聚浙江泰顺 共商一个生态旅游“朋友圈”建设
中新网温州12月9日电 (王题题)浙皖闽赣如何携手共建一个生态旅游“朋友圈”？12月8日，2023年浙皖闽赣国家生态旅游协作区推进会在浙江温州泰顺召开。
Read more新华时评：继往开来，推动中欧关系迈上新台阶
新华社布鲁塞尔12月8日电题：继往开来，推动中欧关系迈上新台阶
Read more安徽师范大学发起“大学生护航行动计划”
中新网安徽芜湖12月9日电 (田超 吴兰)学生“一个都不能少”、学业“一个都不要掉队”……为全面推进“时代新人铸魂工程”，着力保障广大青年学子健康成长成才，12月9日上午，安徽师范大学发起“大学生护航行动计划”。
Read more元首外交｜为进一步深化中欧关系作出战略指引
12月7日，国家主席习近平在钓鱼台国宾馆会见来华举行第二十四次中国－欧盟领导人会晤的欧洲理事会主席米歇尔和欧盟委员会主席冯德莱恩。
Read more“世界发展、和平与文明交流互鉴研讨会”在山东威海召开
中新网威海12月9日电 (记者 杨兵 王娇妮)12月8日，山东大学人文社科高端学术论坛——世界发展、和平与文明交流互鉴研讨会在山东大学威海校区召开，20余位中外专家学者共话“东西方文明交流互鉴”，推动文明交流对话。
Read more台湾足球青年的贵州“村超”之旅
中新社贵州榕江12月9日电 题：台湾足球青年的贵州“村超”之旅
Read more“国际反腐败日”中国最高检发布案例严惩“硕鼠”“粮蠹”
中新社北京12月9日电 (记者 张素)12月9日是“国际反腐败日”，中国最高人民检察院发布10起粮食购销领域职务犯罪典型案例，旨在进一步强化依法办案，严惩“硕鼠”“粮蠹”。
Read more国家级保护动物救治记：“城中湿地”实现“人鸟共生”
中新社哈尔滨12月9日电 题：国家级保护动物救治记：“城中湿地”实现“人鸟共生”
Read more“电视中国剧场”项目《Bawrsak（包尔萨克）剧场》开播仪式在新疆自贸试验区霍尔果斯片区举行
中新网乌鲁木齐12月9日电 (李明 单如辉 李勇 冯海森)8日，由国家广播电视总局策划推出的“电视中国剧场”项目《Bawrsak(包尔萨克)剧场》在哈萨克斯坦落地开播，开播仪式在新疆自贸试验区霍尔果斯片区举行，这也是新疆自贸试验区成立以来中国与哈萨克斯坦两国间首个影视文化交流项目。
Read more南京大屠杀幸存者刘民生：日本兵在我腿上刺了一刀
中新网南京12月9日电 题：南京大屠杀幸存者刘民生：日本兵在我腿上刺了一刀
Read more全国228所高校工程技术人才在长春比拼创新能力
中新网长春12月9日电 (张沫涵)“这里的天气让我不太适应，但是参赛选手们的热情驱散了寒冷。”来自香港中文大学的蒋晓莹在备战区和团队认真准备着即将到来的比赛。
Read more中国宣布正式加入“自然与人类高雄心联盟”
当地时间9日上午，在阿联酋迪拜举行的《联合国气候变化框架公约》第28次缔约方大会(COP28)的自然日(Nature Day)主场活动上，中国宣布正式加入“自然与人类高雄心联盟”。(央视新闻客户端 总台记者 杨渊)
Read more院士专家南京“把脉”复合材料技术与装备发展
中新网南京12月9日电 (王伟 徐珊珊)第三届复合材料技术与装备发展论坛暨智能制造技术与装备国际会议8日在南京举行，院士专家为复合材料技术与装备发展“把脉会诊”，共探新机遇和新挑战。开幕式上，江苏省智能制造工程学会揭牌。
Read more2023中国红色旅游博览会江西开幕 设“大国重器”主题旅游馆
中新网赣州12月9日电 (记者 李韵涵)12月9日，2023中国红色旅游博览会(以下简称“红博会”)在“中央红军长征集结出发地”江西省赣州市于都县开幕，此次博览会注重红色旅游时代价值表达，设有“大国重器”主题旅游馆。
Read more中国民营液体火箭首次连续发射成功 “朱雀”火箭家族有何新规划？
中新社酒泉12月9日电 题：中国民营液体火箭首次连续发射成功 “朱雀”火箭家族有何新规划？
Read more福建沙县：专家业者共话小吃产业发展
中新网三明12月9日电 (黄艳)8日，由中国烹饪协会、中国饭店协会、世界中餐业协会、台湾厨艺美食协会主办的小吃产业发展论坛在福建省三明市沙县区举行，来自全国各地专家学者、餐饮企业家、各行业代表齐聚一堂，共同探讨小吃产业发展方向。
Read more参与全球气候治理，中国绿色能源不能不提
【环球时报综合报道】《联合国气候变化框架公约》第二十八次缔约方大会(COP28)自11月30日在阿联酋迪拜开幕以来，世界第二大经济体中国在帮助全球绿色转型中起到的不可替代作用引发多方热议。“所有人的目光都集中在中国”，欧盟新闻网站Euractiv 4日报道称，在大会上，中国成为每个人都在谈论的话题。如果没有世界第二大经济体，全球能源转型的成功似乎遥不可及。
Read moreAlmost 100 journalists killed and 400 imprisoned in 2023, says report
International Federation of Journalists says 68 killed covering Israel-Gaza war, more than in any other conflict in over 30 years
A leading organisation representing journalists worldwide has expressed deep concern at the number of media professionals killed around the globe doing their jobs in 2023, with more journalists killed during Israel’s war with Hamas than in any other conflict in more than 30 years.
In its annual count of media worker deaths, the International Federation of Journalists (IFJ) said 94 journalists had been killed so far this year and almost 400 others had been imprisoned.
Continue reading...Read moreXi warns China’s economic recovery at ‘critical stage’
Communist party Politburo promises ‘proactive’ fiscal and ‘effective’ monetary policy to support growth
Read moreChinese weather balloon spotted near Taiwan a month ahead of presidential election
Chinese military aircraft including 12 fighter jets also detected in Taiwan’s air defence zone in past 24 hours
Taiwan’s defence ministry has said that a Chinese balloon crossed the Taiwan Strait median line on Thursday, about a month before Taiwan’s presidential election.
The ministry of national defence (MND) earlier described it as a “surveillance balloon” but the defence minister, Chiu Kuo-cheng later told reporters at parliament: “our initial understanding is that it was a sounding balloon”.
Continue reading...Read more‘I’m concerned about my personal safety’: Hong Kong activist Agnes Chow speaks about life in exile
After announcing that she would not return to Hong Kong from Canada, the pro-democracy activist says she fears China’s global reach
In August this year Agnes Chow crossed into mainland China filled with fear. The young activist was in the company of five national security police, taking her from her home in Hong Kong, on what she says was a “propaganda tour” organised by authorities in return for her being allowed to study overseas.
Police had told her the tour was mandatory if she wanted them to return her passport, which they’d confiscated years earlier as part of her bail conditions. Chow is a key figure in Hong Kong’s most significant pro-democracy movement in the last decade, pushing back against Beijing’s increasingly authoritarian rule in Hong Kong.
Continue reading...Read moreHong Kong’s ‘patriots-only’ election tests China’s vision for territory
Authorities hope higher turnout will demonstrate public support for the political order imposed by Xi Jinping
Read moreChina dismisses EU trade deficit concerns as leaders meet
Xi Jinping holds ‘candid’ talks with heads of European Commission and EU Council in Beijing
Read moreChinese property is beyond repair. How can creditors delay its collapse?
Patch up the roof, ignore the foundations, feed the hedgies
Read moreUAE’s top AI group vows to phase out Chinese hardware to appease US
Abu Dhabi-backed G42 says it ‘cannot work with both sides’ and retain access to American-made AI chips
Read moreChina’s CATL denies ‘espionage threat’ accusations
Electric-vehicle battery maker’s technology disconnected from US military base
Read moreMayday: Taiwan rock stars deny breaking China's lip syncing ban
One of the biggest Chinese-language acts is in trouble over a rarely-enforced regulation.
Read moreVisualised: how all of G20 is missing climate goals — but some nations are closer than others
As world leaders gather at Cop28, these charts show how far away the major economies are from their targets
Not a single G20 country has policies in place that are consistent with the Paris agreement’s goal of limiting global heating to 1.5C and meeting their “fair share” of emissions reduction.
The assessment, based on data up to 5 December provided by the Climate Action Tracker, comes as leaders gather in Dubai for the Cop28 conference.
Continue reading...Read moreMoody’s advised staff to work from home ahead of China outlook cut
US rating agency employees in Beijing and Shanghai believe concern over possible backlash prompted unusual move
Read moreChinese exports edge higher for first time in 6 months
Uptick seen as boost to policymakers eager to stimulate recovery in world’s second-biggest economy
Read moreChina deepens ties with Saudi Arabia at Hong Kong gathering
Beijing and Riyadh are expanding their economic relationship as they seek to reduce reliance on the US and its allies
Read moreChina’s Xi Jinping meets EU leaders for high stakes talks
Brussels’ worries about trade deficit fuelled by soaring lending to Chinese manufacturers
Read moreThe young Chinese who stood up against Xi's Covid rules
A year on, protesters who hastened the end of a crushing policy tell the BBC they worry for their safety.
Read moreWhere you can turn for quality TV news | Brief letters
Channel 4 News | Thurston Dart | Garrick club | Panda in-joke | Apostrophes
Can I suggest that the former Newsnight presenter Peter Snow, who feels starved of the journalism that matters (Letters, 1 December), watches Channel 4 News? At 55 minutes, it has ample time for in-depth analysis, and the journalism is of the highest standard.
Philip Holdsworth
Rhos-on-Sea, Conwy
• It must be a sign of my age that, as soon as Zoe Williams mentioned her previous husband’s choice of the name Thurston for their baby, I thought of Thurston Dart, the classical musician, not a pop star. (Worried about naming your baby? Don’t be, 5 December).
Marie Paterson
Nuneaton, Warwickshire
‘Substantial volume’ of clothing tied to Uyghur forced labour entering EU, says study
Calls for legislation after dozens of brands identified as being at risk of sourcing materials linked to China’s transfer programmes
A “substantial volume” of clothing tainted by the use of Uyghur forced labour is entering the European Union market, according to a report, as campaigners say the EU’s checks are not doing enough to weed out coercive work from large supply chains.
Dozens of well-known brands including H&M and Zara are identified as being at high risk of sourcing materials, particularly cotton and PVC, made by Uyghurs compelled to participate in state-imposed labour transfer programmes, according to a report from Uyghur Rights Monitor, Sheffield Hallam University and the Uyghur Centre for Democracy and Human Rights.
Continue reading...Read moreItaly to withdraw from China’s belt and road initiative, say sources
Decision of only G7 nation to join project reportedly communicated to Beijing three days ago
Italy has formally notified China of its withdrawal from Beijing’s ambitious belt and road infrastructure initiative (BRI), a significant trade and infrastructure project, according to two government sources.
The decision, which had been expected for some time, was reportedly communicated to Beijing three days ago, although no official communication has been released by either side.
Continue reading...Read moreItaly formally pulls out of China’s Belt and Road Initiative
Rome dismayed its western allies in 2019 when it signed up to ambitious investment scheme
Read moreVenice gondola capsizes after tourists refuse to sit down and stop taking selfies
Video of passengers and gondolier ending up in canal water widely shared online
A group of tourists fell into a murky, cold canal in Venice when the gondola in which they were travelling capsized after they failed to heed an order to stop taking selfies and sit down.
The gondolier, who had been attempting a tricky manoeuvre as he navigated the vessel under a bridge close to the area of St Mark’s Square, also ended up in the water before scrambling to rescue his passengers.
Continue reading...Read moreSorry America, China has a bigger economy than you
Measures that show the opposite have absurd implications and dangerous policy prescriptions
Read moreApple moves towards India-made iPhone batteries in push away from China
Tech giant wants suppliers to build key component in India as part of broader effort to diversify supply chain
Read moreTikTok owner ByteDance to buy back shares after amassing $50bn cash pile
Ecommerce growth drives revenues to record level and pushes quarterly earnings before interest and tax to $9bn
Read moreAsia’s first Saudi Arabia ETF lists on Hong Kong stock exchange
Saudi Arabia’s $700bn sovereign wealth fund has been named as an anchor investor in the fund
Read moreRio Tinto rosy on China over uptick in manufacturing activity
Chief executive Jakob Stausholm says steel mills running ‘flat out’ but property slowdown still ‘challenging’
Read moreTaiwan presidential election: opposition in chaos as China looms in background
Voters are faced with a choice of continuity with the ruling DPP or change, with an opposition that favours closer ties with Beijing
On the eve of the deadline to formally register as a candidate for Taiwan’s presidential elections in January, the ruling party’s pick for vice-president held a slick and short press conference at a Taipei convention centre. Hsiao Bi-khim, Taiwan’s high-profile diplomatic representative to the US, took few questions from the massive crowd of press. She presented herself as an experienced and pragmatic deputy to presidential candidate Lai Ching-te in a Democratic Progressive party (DPP) administration.
An administration run by Lai and Hsiao, she said, would continue to defend Taiwan’s democracy from Beijing’s authoritarian threats of annexation and preserve “the status quo”.
Continue reading...Read moreSouth Korean display industry still paying a heavy price for Chinese deal
Court battle over tech leakage puts spotlight on rise of Chinese company that gained from a Hyundai unit acquisition
Read moreVW says Xinjiang plant audit finds no evidence of forced labour
German carmaker hired consultancy and local law firm to look into factory after complaints by investors and rights groups
Read moreWhy no concern at prisoners being paid just 50p an hour to work? | Brief letters
Jails in China and Britain | Katherine Rundell | Gentleman and the Garrick | Dear pandas | Low hum | No FA Cup levelling up
Reading another article about Chinese prisoners possibly making products for sale in the UK (Chinese prisoner’s ID card apparently found in lining of Regatta coat, 1 December), I wonder why there is no concern that British prisoners are forced to work for UK companies for about 50p an hour? This work provides no training for release and serves only to enrich private prison contractors.
David Adams
Darlington, County Durham
• How appropriate that on the day you note that Katherine Rundell, the author of The Golden Mole, has won the Waterstones book award with Impossible Creatures (Report, 30 November), we also learn of a golden mole reappearing after being feared extinct (Report, 30 November).
Jim Golcher
Greens Norton, Northamptonshire
EU expected to issue veiled warning to China over supply of cut-cost goods
European Commission chief Ursula von der Leyen to meet Chinese president Xi Jinping at summit on Thursday
The EU is to tell China that its €400bn (£343bn) trade deficit is not sustainable long term amid fears that it will flood the bloc with subsidised electric cars, solar panels and medical devices, threatening European manufacturing and jobs.
Ursula von der Leyen, the European Commission chief, and Charles Michel, the European Council president, will meet Xi Jinping at a summit on Thursday, the second of its kind this year.
Continue reading...Read moreChina's debt outlook downgraded as economy slows
The Moody's credit rating agency warns of "broad downside risks" as the country faces a need for stimulus.
Read moreMoody’s cuts China credit outlook to negative as economy slows
Rating agency says Beijing may need to bail out local governments as property sector collapses
China’s ability to repay its government borrowing has been downgraded by the credit rating agency Moody’s, which said the ripple effects from a crisis in the property sector would undermine efforts to revive its flagging economy.
Moody’s warned that Beijing would need to bail out local and regional governments and state-owned enterprises that were struggling with rising debts, hampering efforts to boost investment and growth.
Continue reading...Read moreChina biotech: investors fear a negative reaction from the US
Wuxi Biologics is likely to miss its original sales target for the year by about $400mn
Read moreMoody’s cuts China’s credit outlook to negative
Rating agency cites increasing risks to growth and a property sector crisis
Read moreForest City: Inside Malaysia's Chinese-built 'ghost city'
Built during the Chinese property boom, Forest City is a stark reminder of the crisis in the sector.
Read moreChinese investors drive rally in local government dollar bonds
Domestic buyers attracted by offshore bonds’ high yields and belief in implicit guarantee by Beijing
Read moreCOP28: Should India and China benefit from a climate damage fund?
Despite being major polluters, India and China argue they have vulnerable populations that need help.
Read moreCouple's property ordeal captivates Chinese internet
Their struggles mirror the dashed hopes of so many people confronting a slowing economy.
Read moreChina’s Evergrande wins more time to restructure debts
Hong Kong court gives property developer until 29 January to formulate deal for creditors
The property developer Evergrande has been granted an extension until late January to try to restructure its debts and avoid liquidation in one of the most high-profile cases in China’s long-running property crisis.
Evergrande was once China’s biggest property developer, but a default on offshore debt obligations in 2021 started a lurch from one crisis to another. It has reported debts of more than $300bn (£237bn), much of it to individuals whose properties were never built.
Continue reading...Read moreHow is Edinburgh Zoo transporting two giant pandas?
Complex arrangements have been made to safely send Edinburgh's two giant pandas back to China.
Read moreHong Kong: Protest leader Agnes Chow jumps bail
The activist is in Canada and is under investigation for breaching the national security law.
Read morePhilippines accuses China of swarming reef in South China Sea
The coast guard said the growing numbers of Chinese military boats in the area was "alarming".
Read moreXi Jinping’s anti-corruption drive worked wonders on his bureaucrats’ waistlines | Torsten Bell
Cutting back on the culture of lavish wining and dining created a slimmer workforce
There’s lots of chat about slimming down the UK’s civil service – it’s grown by 25% since the Brexit referendum (albeit only back to its pre-austerity size).
In the UK, this trimming talk doesn’t usually refer to helping Whitehall mandarins drop a dress size. In contrast, a recent study finds that the Chinese government’s anti-corruption campaign is slimming not only bureaucrat’s wallets, but their waistlines.
Do you have an opinion on the issues raised in this article? If you would like to submit a letter of up to 250 words to be considered for publication, email it to us at [email protected]
Continue reading...Read moreGreenhouse gas emissions soar – with China, US and India most at fault
Satellite tracking data shows many countries and firms do not provide accurate figures
Electricity generation in China and India, and oil and gas production in the US, have produced the biggest increases in global greenhouse gas emissions since 2015, when the Paris climate agreement was signed, new data has shown.
Emissions of methane, a greenhouse gas 80 times more powerful than carbon dioxide, have also risen, despite more than 100 countries signing up to a pledge to reduce the gas, according to data published on Sunday by the Climate Trace project.
Continue reading...Read moreUK army solar panels linked to Chinese forced labour
A senior Tory MP urges the UK government to ban solar firms with links to forced labour in China.
Read moreThe Kissinger years: flawed legacy of the man behind US cold war policy
He shaped a world of superpowers but to those without power he was ruthless. How did one diplomat hold sway for so long?
Henry Kissinger was a complicated, insecure man who believed the US alone could impose order in a complicated, insecure world. For almost a decade from 1969, at the height of cold war instability, he became the international face of America – a very political diplomat almost as well known as his patron, Richard Nixon, the then president.
Kissinger was also a Harvard academic and self-styled grand strategist, a student of Castlereagh and Metternich who put his amoral theories of “realist” foreign policy into practice with often horrific results. He viewed peoples and nations as movable, disposable pieces on a giant global chessboard. He was the bürgermeister of realpolitik.
Continue reading...Read moreAustralia says AI will be used to help track Chinese submarines under new Aukus plan
Defence minister Richard Marles and counterparts from the UK and US say new technologies will be deployed by militaries
Artificial intelligence, drones, and deep space radar are among the technologies that will be used by Australia and its Aukus allies to counter China’s aggression in the Pacific.
Australia’s defence minister, Richard Marles, met with his counterparts from the United States and United Kingdom – Lloyd J Austin and Grant Shapps – in California on Saturday to announce the second “pillar” of the Aukus deal.
Continue reading...Read more‘Rock star of an animal’: Edinburgh zoo’s pandas to return to China
After 12 years in Scotland, pandas to fly home amid ongoing dispute about purpose of zoos and ethics of China’s panda diplomacy
As soon as she heard that Edinburgh’s pandas were about to be flown home, Sarah Greenwood knew she had to see them. “I love everything about pandas,” she said. “I absolutely couldn’t miss it.”
Wrapped in a thick coat and hat to guard against the freezing temperatures and the first snow flurries of winter, Greenwood, an events manager, 52, travelled from Cambridge on Wednesday to watch Tian Tian and her partner, Yang Guang, grazing on bamboo, sleeping and exercising.
Continue reading...Read moreExit from Edinburgh zoo may signal end to era of China’s panda diplomacy
Beijing’s strained relations with the west are less easily mollified by loans of cuddly endangered bears
As the UK’s only giant pandas leave Edinburgh zoo , returning to their native country after a 12-year sojourn away from China, the era of panda diplomacy also looks to be coming to an end.
Tian Tian and Yang Guang will board the panda express back to Sichuan less than a month after three giant pandas left the Smithsonian national zoo in Washington DC, ending the zoo’s five-decade panda programme.
Continue reading...Read moreHenry Kissinger: China mourns 'a most valued old friend'
The death of the contentious former US secretary of state draws nostalgia and compliments in China.
Read moreMeta takes down China-based network of thousands of fake accounts
The company says accounts posted about divisive issues ahead of the 2024 presidential election.
Read moreChinese Super League: From bidding for Bale to selling the team bus
Once it was China, not Saudi Arabia, on a multi-million pound recruitment drive to buy in the world's best football talent. In just a few years though, the Chinese Super League's big-money plans have imploded.
Read moreChipmaker Broadcom completes $69bn deal to buy VMware
Green light from Beijing follows the meeting between Presidents Joe Biden and Xi Jinping in the US last week.
Read moreThe Chinese mafia's downfall in a lawless casino town
For years the "four families" ruled a town notorious for scam centres in Myanmar - their end was swift.
Read moreFive things we learned from the Biden-Xi meeting
The rival presidents found common ground on climate change, military communications and fentanyl.
Read moreXi Jinping: Chinese leader's surprising ties to rural Iowa
Mr Xi was a "pleasure" to have in the house, says woman who hosted him in 1985.
Read moreChina's sky survey telescope finds two near-Earth asteroids
The Minor Planet Center under the International Astronomical Union subsequently confirmed the discovery by the telescope and designated the two asteroids 2023 WX1 and 2023 WB2.
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