communist party

China curbs political management of web giants in bid to chop its reliance on West – Occasions of India

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China curbs political management of web giants in bid to chop its reliance on West - Occasions of India

[ad_1] BEIJING: The ruling Communist Party is tightening political management over China’s internet giants and tapping their wealth to pay for its ambitions to cut back reliance on US and European know-how. Anti-monopoly and knowledge safety crackdowns beginning in late 2020 have shaken the business, which flourished for twenty years with little regulation. Investor jitters … Read more

China appoints new Xinjiang governor amid abuse accusations – Occasions of India

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China appoints new Xinjiang governor amid abuse accusations - Occasions of India

[ad_1] BEIJING: China has appointed a brand new governor for Xinjiang the place the ruling Communist Party is accused of finishing up mass detentions and different abuses towards members of the Uyghur and different Muslim minority teams. A former vice governor, Erkin Tuniyaz gained some notoriety for delivering a vociferous protection of Chinese language insurance … Read more

Money-strapped Evergrande Group to promote $1.5 billion stake in Shengjing Financial institution to state agency

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Money-strapped Evergrande Group to promote $1.5 billion stake in Shengjing Financial institution to state agency

[ad_1] Scrambling to keep away from defaulting on its money owed, cash-strapped China Evergrande Group stated on Wednesday it plans to promote a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset administration firm. Shengjing Financial institution, one of many essential lenders to Evergrande, had demanded that every one … Read more