Tag: Foreign Investments

Beijing’s New Message to Its Citizens: Your Money Belongs at Home

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Beijing has long built walls between Chinese citizens and the outside world: The Great Firewall blocks out information, and passport controls and exit bans restrict movement. But money had been different. In an unspoken bargain between the government and its people, political limits could be tolerated as long as families were largely free to accumulate, protect and quietly diversify their wealth. That bargain is fraying. Over the last couple of years, Chinese citizens have increasingly invested in overseas securities, and especially in the U.S. stock market. But in recent weeks,…

Absent From the SpaceX and OpenAI I.P.O.s? Chinese Investors.

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When SpaceX starts trading this week, one group will be noticeably absent from the frenzy: investors from China and Hong Kong. They are also likely to miss out on the upcoming initial public offering for OpenAI. SpaceX, Elon Musk’s rocket maker and artificial intelligence company, has excluded investors in China and Hong Kong from participating in its I.P.O., according to five people with knowledge of the decision, who asked not to be identified because they were not authorized to speak publicly. OpenAI, another leading A.I. company, is likely to impose…

Videos Show Chinese Businesses Hawking North Korean Labor

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Quick deliveries of large orders for stuffed toys, fake eyelashes and crocheted bags that are made with cheap labor, including some workers who are on the job for 16 hours straight. This is the pitch some Chinese businesses are making on social media to potential customers. But the products they are selling are made in North Korea, like in this video of a wig factory. In the posts, which have proliferated in recent years, some Chinese entrepreneurs say that they own factories in North Korea and openly share contact information,…

China Builds an Economic Fortress as Global Tensions Rise

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China is erecting walls to prevent money, technology and companies from leaving the country. This week, the State Council, China’s cabinet, announced new rules requiring national security screening for Chinese companies seeking to invest overseas. The move follows regulations introduced in April that allowed the authorities to intervene when foreign companies tried to relocate supply chains out of China. Taken together, the measures amount to a new blueprint for the economic fortress China is building around its technology and supply chains amid rising tensions with Europe and the United States.…

Meta Deal Reversal Deepens Split Between China and Silicon Valley

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Manus, an artificial intelligence start-up, began with an idea among three engineers in Wuhan, China, united by an obsession with A.I. and a shared ambition to build a global venture. From the outset, they looked beyond China. Their big break came in March last year. Manus had drawn the attention of Silicon Valley investors with an A.I. agent capable of carrying out tasks on its own. By year’s end, Meta had agreed to acquire Manus. It looked like a clean breakout from China’s crowded, tightly regulated market and a path…

There’s a Race to Power the Future. China Is Pulling Away.

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ChinaSolar in Shanxi Province Gilles Sabrié for The New York Times U.S.Oil in California J. Emilio Flores for The New York Times Lithium-ion batteries China$65 bil.United States$3 bil.Asia$21 bil.Europe$26 bil.Africa$2 bil.Americas$17 bil.Oceania$1 bil. Solar panels and modules China$40 bil.United States$69 mil.Asia$11 bil.Europe$20 bil.Africa$2 bil.Americas$6 bil.Oceania$1 bil. Electric cars China$38 bil.United States$12 bil.Africa$281 mil.Oceania$3 bil.Europe$26 bil.Asia$14 bil.Americas$8 bil. Crude oil China$844 mil.United States$117 bil.Asia$50 bil.Americas$16 bil.Oceania$799 mil.Europe$52 bil.Africa$359 mil. Natural gas China$3 bil.United States$42 bil.Asia$13 bil.Europe$22 bil.Africa$3 mil.Americas$11 bil. Coal China$1 bil.United States$15 bil.Africa$718 mil.Americas$3 bil.Asia$8 bil.Europe$5 bil.Oceania$16 thou. ChinaElectric car…

TikTok Bill Would Complicate ByteDance Investments if Passed

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For years, the U.S. investors who backed ByteDance, the Chinese internet company that owns TikTok, have wrestled with the complexities of owning a piece of a geopolitically fraught social media app. Now it’s gotten even more complicated. A bill to force ByteDance to sell TikTok is winding its way through the Senate after sailing through the House this month. Questions about whether TikTok’s Chinese ties make it a national security threat are mounting. And U.S. investors including General Atlantic, Susquehanna International Group and Sequoia Capital — which collectively poured billions…

China’s Plan to Spur Growth: A New Slogan With Familiar Ideas

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From the top of the government, China is heavily promoting a plan to fix the country’s stagnant economy and offset the harm from a decades-long housing bubble. The program has a fresh slogan, presented foremost by Xi Jinping, the country’s top leader, as “new, quality productive forces.” But it has features that are familiar from China’s economic playbook: The idea is to spur innovation and growth through massive investments in manufacturing, particularly in high-tech and clean energy, as well as robust spending on research and development. And there have been…

Mainland Chinese Flocked to Hong Kong’s Top Talent Visa

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To some foreign expatriates, Hong Kong has lost its appeal as an international city and no longer feels like home since Beijing took a heavier hand in its governance. But for many former mainland Chinese like Angelina Wang, it has become a more attractive place to live and work. Ms. Wang, in her early 30s, was feeling stuck in her job at a state-owned finance company in Shenzhen, a mainland city just across the border, when she read about a Hong Kong visa for professional workers. She quickly applied. As…

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

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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…