Category: NYT

Hong Kong Adopts Sweeping Security Laws, Bowing to Beijing

Media Library

Hong Kong on Tuesday passed national security laws at the behest of Beijing, thwarting decades of public resistance in a move that critics say will strike a lasting blow to the partial autonomy the city had been promised by China. The new legislation, which was passed with extraordinary speed, grants the authorities even more powers to crack down on opposition to Beijing and the Hong Kong government, establishing penalties — including life imprisonment — for political crimes like treason and insurrection, which are vaguely defined. It also targets offenses like…

What to Know About Hong Kong’s Article 23 Legislation

Media Library

Hong Kong passed national security legislation on Tuesday, giving officials in the Chinese territory more power to curb dissent, 21 years after mass protests forced the government to backtrack on a plan to introduce such laws. The legislation targets political offenses like treason and insurrection with penalties as harsh as life imprisonment and expands the scope of what can be considered criminal behavior. Local officials have said it will close gaps in a security law that China’s government imposed on the territory in 2020 after months of huge antigovernment protests.…

Hong Kong Security Law Could Damage City’s Image as Financial Hub

Media Library

Paul Chan, the top finance official of Hong Kong, traveled to Paris, London, Frankfurt and Berlin last September to lure foreign investors. Last month he abolished taxes on foreigners’ purchases of Hong Kong real estate. And he is soon set to host an international art show, as well as conferences for big money funds and advisers to wealthy families. Mr. Chan’s brisk work pace represents an attempt to shore up Hong Kong’s role and image as the financial hub of Asia. But that effort is now colliding with a move…

Blinken Warns China Against Armed Attack on Philippines

Media Library

Secretary of State Antony J. Blinken warned China on Tuesday that an “armed” attack against Philippine vessels in the South China Sea would trigger a mutual self-defense pact between Washington and Manila, a reflection of rising tensions in the region that risk dragging the United States into armed conflict with Beijing. But in a sign that the United States hopes to de-escalate the situation, Mr. Blinken, on a visit to Manila, gave no indication that recent Chinese provocations — which include ramming Philippine vessels and blasting them with water cannons…

China Evergrande Founder Accused of Exaggerating Revenue by $78 Billion

Media Library

China Evergrande Group exaggerated its revenue by more than $78 billion and committed securities fraud over two years before its spectacular collapse in 2021, a top Chinese regulator said. The China Securities Regulatory Commission accused Hui Ka Yan, the founder of Evergrande, of “making decisions and organizing fraud,” the company reported in a filing to the Shanghai and Shenzhen stock exchanges on Monday night. Mr. Hui was fined $6.5 million and banned from China’s financial markets for life. Xia Haijun, a former chief executive, was fined $2 million and also…

Chinese Magnate Admits to Making Straw Donations to N.Y. Politicians

Media Library

A Chinese business titan pleaded guilty on Monday to federal charges that he made more than $10,000 in straw donor contributions to political candidates — including, a person familiar with the case said, to a New York congressman and Mayor Eric Adams. Hui Qin, 56, of Old Westbury, N.Y., who was once listed on Forbes magazine’s list of billionaires, ran a now-defunct entertainment business called SMI Culture. But he has been in federal custody since the fall, when he was arrested at an apartment he kept at the Plaza Hotel…

Tesla’s Troubles Raise Questions About Its Invincibility

Media Library

Elon Musk appeared to be in a defiant mood Wednesday when he stood before employees at Tesla’s factory near Berlin a week after an arsonist set fire to a high-voltage power pylon and brought production to a standstill. “They can’t stop us,” Mr. Musk, the company’s chief executive, told workers in a giant tent beside the plant. But there are proliferating signs that Tesla may not be as unstoppable as it once seemed. The company’s car sales are no longer growing at a torrid pace. Chinese automakers and established brands…

TikTok Fight Cast Shadow Over Investments in Other Chinese Companies

Media Library

When investors talk about “zombie” companies, they’re usually referring to distressed start-ups that are hobbling along, unable to grow and unlikely to ever return the money they’ve raised. But as deal makers feverishly debated efforts this week by lawmakers to force TikTok’s Chinese parent company, ByteDance, to sell the app, they talked about a new version: China zombies. China zombies may have booming businesses, but they’re unlikely to provide investors with any immediate return because they’re stuck in geopolitical cross hairs. It’s not just the investors in ByteDance who, after…

Was He Secretly Working for China? This Is What He Told Us.

Media Library

Not long after we first met, the man said that if Australia was looking for Chinese spies, he was just the type of person they would be looking at — but the authorities would never “dare say I’m Chinese intelligence.” Given the anti-China fervor in Australia, he acknowledged he could come off as suspicious. So why would he not get into trouble with the authorities? He believed that it would be embarrassing for Australia to accuse of him of spying because he had been an active member of a major…

Who Australia Caught When It Went Looking for Chinese Spies

Media Library

The police officers asked the man what he meant when he said that involving an Australian government minister in a charity event could benefit “us Chinese.” Was he talking about mainland China and the Chinese Communist Party, or the local Australian Chinese community? Depending on the answer, he faced up to 10 years in prison. “You are understanding the Chinese is China. We always say, ‘I’m Chinese,’ that not mean, ‘I’m mainland China,’” said the man, Di Sanh “Sunny” Duong, who was brought in for questioning. The officer pressed on,…