Microsoft shuttering LinkedIn in China as rules tighten

https://hongkongfp.com/2021/10/15/microsoft-shuttering-linkedin-in-china-as-rules-tighten/

LinkedIn to leave Chinese market over censorship - Apple to pull JESUS and ALLAH from App Store

Apple removed its Bible App by Olive Tree and Quran Majeed from its online App Store in China, bowing to Beijing’s Big Tech censorship.

Microsoft is also pulling the plug on LinkedIn in the country, nearly seven years after its launch. The company plans to return to the Chinese market shortly with a heavily redacted version called InJobs.

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Independent Investigation: World Bank’s Seniors Put Pressure on Staff to Improve China's Business Environment Ranking for a Good Impression

An independent investigation stated that former and current seniors of the World Bank put pressure on employees, asking them to improve the ranking of China in “Doing Business 2018” by the Bank of the World. World Bank then made a statement to announce the suspension on publishing “Doing Business 2018”. The seniors include former President, who is also the Korean American Medical Professor, Jim Yong Kim, and current International Monetary Fund President, Kristalina Georgieva.

Chinese Foreign Ministry Spokesperson Zhao Lijian stated that the Chinese government attached importance to optimising the business environment with an excellent result. They also hope the World Bank will conduct a comprehensive investigation under internal review procedures on relevant issues based on facts, rules, professionalism and objectivity. As a result, they can maintain the professionalism and credibility of the Global Business Environment Report and the reputation of the World Bank and member states.

Source: Stand News #Sep17

https://bit.ly/3lrB71i

#WorldBank #China #BusinessEnvironment #EthicalIssues #Credibility #Professionalism #ZhaoLijian #ForeignMinistry #DoingBusiness2018

Evergrande risks 'controllable': PBOC

China’s central bank said Friday that financial risks from China Evergrande Group’s debt problems are “controllable” and unlikely to spill over, amid growing investor concerns that the crisis could ripple through other developers. Evergrande is the world’s most indebted developer, with over US$300 billion in liabilities. The company has missed a third round of interest payments on its offshore bonds this week, spooking investors globally and sparking concern that other companies in the sector may also default on payments.“Of the total liabilities of Evergrande Group, financial liabilities are less than one-third. Creditors are also relatively dispersed, and individual financial institutions have little risk exposure,” People’s Bank of China official Zou Lan said at a news briefing Friday. “Overall, the risk of the spillover to the financial industry is controllable,” he added. Zou said Evergrande was “poorly managed” in recent years and “failed to operate cautiously” according to changing market conditions.Instead, the company had blindly diversified and expanded, which affected its operations and finances. “The real estate industry is generally healthy,” Zou said, pointing out that most real estate companies are operating in a stable manner with health financial indicators. Zou’s comments broke Beijing’s silence on Evergrande, whose stock price has plunged since its cash crunch came to light, and the company halted trading of its stock earlier this month pending a “major transaction.” The official said that relevant authorities and local governments were urging Evergrande to increase its asset disposal and speed up restoration of its construction projects to safeguard the interests of consumers, and that the financial department would provide financial support for the resumption of projects. Earlier this month, Shenzhen-headquartered real-estate developer Fantasia Holdings Group missed payments on a US$206 million bond. Another Chinese developer, Sinic Holdings Group, said in a filing to the Hong Kong stock exchange that it is likely to default on a US$250 million bond due later this week as it lacked the financial resources to do so. (AP)

2021-10-15 21:56:35

A #Fire in a high-rise building in #Taiwan raged out of control for hours on Thursday. Taiwanese officials say the death toll has soared and dozens are injured.

🔶 Watch the full episode👉https://youtu.be/hmGgexZM5ZU

Social networking platform #LinkedIn is going offline in #China. The company says it's because it's under growing pressure from Beijing's #Censorship rules, so it'll release a new app there instead. That app won't allow individual users to share content.

🔶 Watch the full episode👉https://youtu.be/hmGgexZM5ZU

#Japan may put more effort into countering threats from #China. Japan’s ruling party made an unprecedented election pledge to double #Defense spending.

🔶 Watch the full episode👉https://youtu.be/hmGgexZM5ZU

A violent #Murder occurred in southern #China—two died and three were injured in a #FamilyMassacre. The fugitive killer's story is stirring discussion online.

🔶 Watch the full episode👉https://youtu.be/hmGgexZM5ZU

The #EuropeanUnion is putting more effort into reducing its dependence on #China.

EU officials say drugmakers may face stricter rules to ensure the supply of #Medicines. The bloc wants to reduce its imports of pharmaceutical products from China and other tyrannies.

🔶 Watch the full episode👉https://youtu.be/hmGgexZM5ZU

China’s #EnergyCrisis is deepening. Almost two-thirds of the country is struggling with power rationing right now. And in one particularly hard-hit province, things are not getting better.

🔶 Watch the full episode👉https://youtu.be/_x_ZVnHMnpY

​US Military Support for Taiwan Angers Beijing

By: Antonio Graceffo

READ: https://www.theepochtimes.com/us-military-support-for-taiwan-angers-beijing_4040957.html?utm_medium=epochtimes&utm_source=telegram

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“The #NorthKoreans would not go to war with South Korea unless they had strong backing from #China. A lot would depend upon China.” -- #DonaldKirk

🔥WATCH THE FULL VIDEO HERE👉 https://youtu.be/h7cVfa2Ybbk

China Properties Group misses debt payment

China Properties Group Ltd said on Friday it had defaulted on notes worth US$226 million as it failed to secure funds by the maturity date, joining a list of property developers in the country that are reeling from a debt crisis.The case underscores the impact of China Evergrande Group, which is struggling under US$305 billion in debt, on the rest of the high-yield sector as liquidity dries up and sales slow.Earlier this week, Chinese developer Sinic Holdings said it would likely default on bonds worth US$250 million.China Properties said it had failed to secure funds by October 15, the maturity date of the notes, due to a "timing mismatch" and that it would not be able to make repayments until it had sold or refinanced some of its assets.The Hong Kong-headquartered company said its controlling shareholder Wong Sai Chung had assured he would continue to provide support to the firm through the liquidity crisis.For now, the notes would be delisted from foreign bourses, it added. (Reuters)

2021-10-16 00:11:36

​Mercedes-Benz Opening Tech Center in Beijing to Develop V2X Technology

By: Anders Corr

READ: https://www.theepochtimes.com/mercedes-benz-opening-tech-center-in-beijing-to-develop-v2x-technology_4047065.html?utm_medium=epochtimes&utm_source=telegram

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HK watchdog investigates Evergrande and auditors PwC over accounts

The Financial Reporting Council (FRC) has launched an inquiry into the 2020 and first half of 2021 accounts of Evergrande - and into the audit carried out by PwC that assessed their sustainability.

According to the FRC, Evergrande reported cash reserves of around $24.73bn - covering just over 10% of current liabilities - but PwC didn’t report any uncertainties over the company as a going concern.

Evergrande has now missed three rounds of interest payments on overseas bonds, and has estimated liabilities of $300bn.

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