Netizens mock British media claims of China propaganda link to Kate Middleton rumours
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British media outlets claim that propaganda machines in China, Russia, and Iran are peddling online rumors and conspiracy theories about Kate Middleton to destabilize British society. Netizens on Chinese social media platforms mock these claims, expressing disbelief and questioning the British media's focus on Kate Middleton's personal affairs. The speculation surrounding Kate Middleton's well-being and recent announcement of her cancer diagnosis has led to the circulation of conspiracy theories, including claims of a troubled married life, being in hiding, or being replaced by a doppelgänger. Netizens blame the British media and the royal family for the speculation and criticize them for diverting attention from other pressing issues facing the country. Chinese think tank commentator Zichen Wang expresses skepticism about Beijing's interest in the private affairs of the Princess of Wales. The article also mentions the manipulation of an image of Kate Middleton and the circulation of fake clips by the British media. The claims made by British media outlets are met with mockery and disbelief on social media platforms in China.
#China #KateMiddleton #BritishMedia #Propaganda #Rumours #ConspiracyTheories #SocialMedia
UBS marks completion of new building in West Kowloon that will house the Swiss bank’s Hong Kong staff
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UBS and Sun Hung Kai Properties (SHKP) have completed a new 14-storey office tower in West Kowloon, Hong Kong, that will house UBS's staff and be used for client meetings. The move aims to consolidate all of UBS's business units in one central location. UBS expects to move into the new building by 2026. The building, designed by Zaha Hadid Architects, is part of a larger project by SHKP and will span 2.6 million square feet of premium office space and 600,000 square feet of retail space. The completion of the building will elevate the status of West Kowloon as a business and cultural hub.
#Ubs #SunHungKaiProperties #OfficeBuilding #HongKongStaff #WestKowloon
Thought Piece: Professional Sport’s Greatest Threat and Biggest Opportunity
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The climate crisis is professional sports greatest challenge but also its greatest opportunity. Sport is responsible for 350 million tonnes of greenhouse gases annually. Stadiums must be upgraded with better insulation, heating controls, and efficient appliances. Renewable energy must be used to power stadiums. Public transport to the stadium must be put on, food options must be considered, water usage reduced, recycling systems and waste management put in place. Sport already positively impacts the world by uniting different cultures and nationalities. It contributes US$8.4 billion in value to society through increased confidence, greater employability, and a reduction in mental health and health-related issues. Sport can make itself invaluable in the upcoming transition through fan engagement. Governments need society to change with them as they move away from fossil fuels. Sport can help promote and showcase renewable technologies like solar panels, electric vehicles, battery storage, and heat pumps. The way in which people consume sport has changed, and sport's connection with its fans can influence the change needed at the scale and pace required. Sport has the opportunity to create social good, influence environmental change, and help society navigate the transition to a net zero economy.
#ProfessionalSport #ClimateCrisis #GreenhouseGases #Stadiums #RenewableEnergy #FanEngagement #RenewableTechnologies #NetZeroEconomy
Hong Kong ‘Captain America’ first inmate barred from early release under new law
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Adam Ma Chun-man, an activist convicted of inciting secession during the 2019 anti-government protests in Hong Kong, has become the first inmate to have his early release from prison blocked under the city’s new domestic national security legislation. Ma, known as the 'second Captain America' for dressing as the Marvel character at demonstrations, was originally sentenced to five years and nine months in prison in 2021, but his sentence was later reduced to five years on appeal. The Safeguarding National Security Ordinance, which took effect on Saturday, prevents prisoners convicted of national security offences from being granted remission unless it is determined that their release will not compromise national security. The legislation applies to anyone jailed under the Beijing-imposed national security law enacted in June 2020.
#HongKong #NationalSecurityLaw #AdamMaChunman #EarlyRelease #Prison #AntigovernmentProtests
Hong Kong ‘Captain America’ first inmate barred from early release under new law
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Adam Ma Chun-man, an activist convicted of inciting secession during the 2019 anti-government protests in Hong Kong, has become the first inmate to have his early release from prison blocked under the city’s new domestic national security legislation. Ma, known as the 'second Captain America' for dressing as the Marvel character at demonstrations, was originally sentenced to five years and nine months in prison in 2021, but his sentence was later reduced to five years on appeal. The Safeguarding National Security Ordinance, which took effect on Saturday, prevents prisoners convicted of national security offences from being granted remission unless it is determined that their release will not compromise national security. The legislation applies to anyone jailed under the Beijing-imposed national security law enacted in June 2020.
#HongKong #NationalSecurityLaw #AdamMaChunman #EarlyRelease #Prison #AntigovernmentProtests
Shimao seeks offshore investor approval to restructure US$11.7 billion debt
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Embattled Chinese developer Shimao Group Holdings is seeking to restructure offshore debt worth US$11.7 billion. The company has presented four options to its creditors, including repayment through short-term notes, long-term notes, zero-coupon mandatory convertible bonds, and a combination of different securities. The aggregate principal amount offered through short-term notes or loans due in six years will not exceed US$3 billion, while the amount allocated to long-term notes or loans due in seven to nine years will not exceed US$4 billion. Shimao has been trying to resolve its debt issues since announcing an initial restructuring plan in December. The latest proposal aims to improve the company's capital structure and enable better management of operations. Failure to reach an agreement with creditors could increase risks for Shimao. Hui Wing Mau, Shimao's controlling shareholder, will be repaid with US$600 million of 2% 9.5-year bonds plus mandatory convertible bonds. Moody's Analytics predicts that the Chinese property market will take longer to recover, with real estate investment, prices, and sales expected to fall through 2024 before returning to modest growth in 2025.
Wang On set for busiest year as developer seizes Hong Kong market rebound: CEO
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Hong Kong developer Wang On Properties expects home prices to rebound 5% and rentals to climb 8% this year. The company plans to launch the most new projects since its listing eight years ago. It will convert the former Pentahotel in Kowloon into 720 student accommodation rooms. The Hong Kong government has loosened curbs and borrowing costs are projected to decline. Wang On Properties is 75% owned by Wang On Group and has formed joint ventures with Angelo, Gordon & Co., APG, and KKR. The company's developments include residential, commercial, car-parking, and hospitality projects with total investment exceeding HK$15 billion. Mainland Chinese buyers are expected to be interested in Hong Kong's property market due to higher rental yields, expected interest rate cuts, and the cash-for-residency scheme for ultra high-net-worth individuals.
#HongKong #PropertyMarket #WangOnProperties #RealEstate #HospitalitySector
Exclusive | Top China scholar says US tensions will be ‘with us for a long time’
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Political scientist Li Cheng believes that US-China tensions will persist for a long time due to structural problems. He points out that the US has never faced a comprehensive and all-rounded rivalry like China, which includes economic, military, science and technology, and ideological challenges. He also highlights the domestic reasons in the US, such as the economic impact of globalization on the American middle class. Li predicts that it will take 10-15 years to achieve a return to a normal relationship between the two countries. He also discusses the potential challenges of a Trump presidency and the external challenges in the region, particularly in the South China Sea. Li believes that tensions between the US and China are fueled by mutually reinforced fear and animosity. He suggests that an incident in the South China Sea is more likely than a military conflict over Taiwan. Li also discusses China's role in global conflicts and its efforts to present itself as a constructive force for stability and peace. He comments on the recent removal of two ministers in China and the implications for President Xi Jinping's leadership. Finally, Li argues that Hong Kong still has strengths, including its cosmopolitan nature, financial center status, and strong universities.
#UschinaRelations #StructuralProblems #China'sChallenges #DomesticReasons #TrumpPresidency #SouthChinaSea #Taiwan #GlobalConflicts #HongKong
Apple CEO extols Chinese suppliers at Beijing forum as iPhone sales dip
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Apple CEO Tim Cook praised Chinese suppliers for their contribution to Apple's carbon-neutral goals at the China Development Forum in Beijing. Cook highlighted that Chinese suppliers have been innovative and finding new ways to achieve carbon neutrality. He also met with China's commerce minister to discuss Apple's operations in the country and expressed Apple's commitment to long-term development in China. Apple has been shifting some of its production to countries like India and Vietnam due to rising US-China tensions and pandemic restrictions. iPhone sales in China have fallen by 24% year on year in the first six weeks of 2024. Cook's appearance at the forum was attended by top-level Chinese government officials and foreign business executives.
#Apple #TimCook #China #Iphone #ChineseSuppliers #ChinaDevelopmentForum #Huawei
Purton delivers on Massive Sovereign in Hong Kong Derby for the ages
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Zac Purton claims his second Hong Kong Derby victory riding Massive Sovereign, ending a streak of placings in the prestigious race. Starting as the second favorite, Purton made a brilliant ride, coming from second last to surge to the front in the final 50m. The overall time of 1:59.85 was the fastest in a Derby since it was switched to 2,000m in 2000. Purton expressed his relief and honor to win the race, considering it the most prestigious race in Hong Kong. Massive Sovereign, previously known as Broadhurst, won the Derby at just his second Hong Kong start. Purton finished the Sha Tin meeting with a treble. The jockey had fallen short with six placings in the Derby since his only win in 2015. The winning horse is trained by Dennis Yip Chor-hong. Purton had not locked in a Derby ride until Massive Sovereign's first-up win on March 3. The horse has shown great potential and a good attitude since arriving in Hong Kong. The jockey also acknowledged the tactics of Andrea Atzeni on Ka Ying Generation, who finished third. The race took place on March 24, 2024.
#ZacPurton #MassiveSovereign #HongKongDerby #DennisYipChorhong #HorseRacing
China’s hi-tech push for computing power, AI gains face big hurdles: analysts
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China's push for computing power and AI gains faces challenges due to a lack of critical supplies for AI development, fragmented market, and difficulties in developing indigenous computing power. The growth rate of China's public computing investment declined from 66.55% in 2019 to 13.2% in the first half of 2023. Data centers backed by private companies and local governments saw an increase from 5.3% in 2020 to 20.7% in 2023. Beijing aims to raise China's share of AI computing power to 35% by the end of next year. Only 38% of the capacity of data centers was used in 2022, far below the global level of 60%. Disorderly competition and uncoordinated local investment may be compromising China's catch-up efforts. Washington's restrictions on high-performance chips have further highlighted the need for China to develop an indigenous computing power system. Analysts call for joint actions from China's leading tech firms to form a domestic industrial ecosystem.
#China #ComputingPower #Ai #Technology #SupplyChain #DataCenters
Why India’s start-ups are finding it hard to get money despite booming economy
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Indian start-ups are facing difficulties in securing funding despite the booming economy. Investors are becoming more cautious and cutting smaller cheques due to previous failures and declines in valuations. In January and February 2024, Indian start-ups raised about $900 million, signaling another slow year after a six-year low of $8 billion in 2023. The drop in funding for Indian start-ups last year was steeper than that of US and Chinese start-ups. Start-up funding has a broader economic impact, as start-ups have generated 20-25% of India's new jobs and 10-15% of its economic growth in the last eight years. The decline in funding can be attributed to the sharp turnarounds in fortune for companies like Paytm, Byju's, and Ola Cabs. Valuations have plummeted, and investors are now more focused on potential profitability and stable bricks-and-mortar businesses. Some venture capital firms are broadening their investments beyond tech start-ups to capture a larger portion of the economy. SoftBank, which previously invested $11 billion in Indian start-ups, is considering deploying up to $300 million in India this year after a two-year hiatus.
#India #Startups #Funding #Economy #Investors
Hong Kong and rest of Greater Bay Area pledge closer links 5 years into plan
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Hong Kong and other cities in the Greater Bay Area are forging stronger links among their financial sectors and striving to become a beacon for talent. The collaboration in the bay area has made significant progress in areas such as green technology, green finance, and innovation and technology development. Hong Kong's ability to connect the mainland with the rest of the world is seen as a major advantage. Qianhai, an emerging zone in Shenzhen, is hailed as a breakthrough for developing industries such as artificial intelligence and biomedicine. The bay area vision includes joining forces with Hong Kong and Macau to attract high-level, innovative talent from around the world. The next phase of the cross-border Wealth Management Connect scheme will increase personal investment limits and allow for greater policy flexibility in cross-border commerce. Hong Kong plans to boost ties with mainland neighbors and explore its role as a gateway for luring professionals. The bay area's evolution has been affected by the pandemic and challenges facing the mainland and the city. Authorities also plan to help Hong Kong companies explore overseas opportunities through free-trade agreements with member states such as Bahrain, Kuwait, and Peru.
#HongKong #GreaterBayArea #Cooperation #FinancialSector #Talent #GreenTechnology #GreenFinance #Innovation #TechnologyDevelopment #Qianhai #ArtificialIntelligence #Biomedicine #WealthManagementConnect #Cross-borderCommerce #ProfessionalGateway #Pandemic #OverseasOpportunities #Free-tradeAgreements
AI: US and China must rise above a zero-sum race
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The US and China are at the forefront of AI development, but the portrayal of it as a zero-sum game oversimplifies the complex nature of AI development and global technological progress. The US already commands a lead in AI, with a market that champions quality, diversity, and global infrastructure. However, the US' pursuit of AI supremacy risks undermining collaboration and generating unforeseen consequences. Divergent AI regulations could harm global ethical standards, and the US' latest proposal to require cloud firms to disclose foreign customer details faces execution challenges. China, with its vast data collection capabilities and integrated digital ecosystems, positions itself as a sound contender in the AI race. True advancement in AI may come from a transformative approach that redefines competition itself, with standardised rules and international cooperation. Implementing a framework for AI regulation and governance will be challenging due to the complexity and borderless reach of AI. The path forward should merge competitive spirit with a commitment to shared goals, shaping a future where AI serves as a bridge between nations.
#Ai #Us #China #Technology #Collaboration #Competition #Regulation #Governance
India’s GMR potential front runner for US$3 billion Manila airport plan project
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India's GMR Group is a potential front runner among four private bidders for the US$3 billion redevelopment project of Manila's Ninoy Aquino International Airport (NAIA). The Philippines has shortlisted three out of the four international consortiums for the project, with GMR Group proposing to share up to 33.3% of annual revenues with the Philippine government. The airport tender is being finalized amid growing tensions between Manila and Beijing in the South China Sea, but the Philippines says bilateral ties will not be a factor in the selection. If GMR Group wins the bid, it will be their third airport project in the Philippines. The upgraded airport is expected to serve at least 60 million passengers annually. The winning bidder will be given a concession period of 15 years initially, with a possible extension of another 10 years.
#ManilaAirport #GmrGroup #NinoyAquinoInternationalAirport #Philippines #ChinaTensions
Hong Kong universities hunt for overseas students as mainland Chinese numbers soar
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The number of mainland Chinese undergraduate students at Hong Kong's public universities has surpassed 10,000 for the first time, accounting for about 70% of all non-local students. In an effort to attract more international students, the eight public universities will conduct a joint recruitment trip to India in the first half of this year, with a focus on mathematics talents. The number of non-local students from 'the rest of the world' has decreased by 15% over the past five years. The government plans to double the non-local student quota for publicly funded institutions' taught programs to 40% from September 2024. The University of Hong Kong, Hong Kong University of Science and Technology, and Polytechnic University have already exceeded the existing quota, with more than 20% of their students being non-locals. The University Grants Committee has allocated HK$30 million to promote internationalization at the eight universities. The universities will participate in international education expos, organize recruitment trips, and carry out marketing activities. They will also embark on a joint recruitment trip to India. Other countries, including France, Malaysia, and South Korea, are also aiming to attract Indian students.
#HongKong #Universities #ForeignStudents #MainlandChineseStudents #InternationalStudents #Recruitment #India #MathematicsTalents #Non-localStudents #UniversityGrantsCommittee
Most Hongkongers think perks like consumption vouchers are unnecessary in coming budget: Paul Chan
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Most Hongkongers think perks like consumption vouchers are unnecessary in the coming budget, according to Financial Secretary Paul Chan Mo-po. He predicts that the economy will be more stable this year due to falling interest rates. The government had spent a significant amount of money during the pandemic, with the city's deficit reaching about HK$100 billion in the current financial year. The government gave residents vouchers for three consecutive years to boost consumption amid the economic slump caused by the Covid-19 pandemic. Chan expects the local and global economy to become more stable compared to the previous year, given that interest rates have stabilized and may fall later in the year. However, the city will have to rely on local consumption and tourism in the short term as exports still face pressure. Chan emphasized the importance of improving the quality of services and experiences for tourists to encourage them to return to Hong Kong. The city had reached 70% of the pre-pandemic number of tourist arrivals in January. The number of residents leaving Hong Kong for leisure could affect the city's economic prospects. The government will continue to monitor the property market and handle it with care as many residents have invested most of their savings in their homes.
#HongKong #ConsumptionVouchers #Budget #Economy #InterestRates #Tourism #Exports #PropertyMarket
China stocks slide, US stocks glide – will reform work to stem the tide?
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China's stock market has experienced massive losses, while the US stock market has reached record highs. Analysts believe that China needs to address systemic issues and loosen capital controls to change course and become a financial superpower. The "magnificent seven" tech giants in the US, including Nvidia, Tesla, Meta Platforms, Apple, Amazon, Microsoft, and Alphabet, have contributed significantly to the record highs in the US stock market. China's stock market has suffered from restrictive pandemic controls, regulatory tightening, and a bumpy post-Covid recovery, leading to a loss of US$3 trillion in capitalization over the past three years. Beijing has implemented measures to prevent a downturn, but analysts believe that a sustained rally requires improving economic fundamentals. The lack of confidence in China's stock market is compounded by broader economic and societal concerns. China's economy grew by 5.2% in 2023, but faces challenges such as debt, employment worries, and erratic business sentiment. President Xi Jinping has emphasized the need for China to become a financial superpower with a distinct system from Western models. Beijing has been addressing weaknesses in its financial system and aims to learn from the openness and transparency of US equity markets. Analysts believe that finance should support technological transformation in enterprises and that the market should play a more prominent role. China's goal of building itself into a global financial powerhouse is hindered by tight capital controls, preventing institutions and investors from participating in the global financial arena.
#China #Us #StockMarket #FinancialReform #Economy
China stocks slide, US stocks glide – will reform work to stem the tide?
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China's stock market has experienced massive losses, while the US stock market has reached record highs. Analysts believe that China needs to address systemic issues and loosen capital controls to change course and become a financial superpower. The "magnificent seven" tech giants in the US, including Nvidia, Tesla, Meta Platforms, Apple, Amazon, Microsoft, and Alphabet, have contributed significantly to the record highs in the US stock market. China's stock market has suffered from restrictive pandemic controls, regulatory tightening, and a bumpy post-Covid recovery, leading to a loss of US$3 trillion in capitalization over the past three years. Beijing has implemented measures to prevent a downturn, but analysts believe that a sustained rally requires improving economic fundamentals. The lack of confidence in China's stock market is compounded by broader economic and societal concerns. China's economy grew by 5.2% in 2023, but faces challenges such as debt, employment worries, and erratic business sentiment. President Xi Jinping has emphasized the need for China to become a financial superpower with a distinct system from Western models. Beijing has been addressing weaknesses in its financial system and aims to learn from the openness and transparency of US equity markets. Analysts believe that finance should support technological transformation in enterprises and that the market should play a more prominent role. China's goal of building itself into a global financial powerhouse is hindered by tight capital controls, preventing institutions and investors from participating in the global financial arena.
#China #Us #StockMarket #FinancialReform #Economy
North Korea scraps all economic cooperation with South in further blow to ties
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North Korea's Supreme People's Assembly has voted to scrap all agreements with South Korea on promoting economic cooperation, including the special law on the operation of the Mount Kumgang tourism project. The project, which drew nearly 2 million South Korean visitors, was suspended in 2008 after a South Korean tourist was shot and killed by North Korean guards. The North's unilateral action is not recognized by South Korea and is expected to deepen its isolation. The report did not mention the North's special law governing the Kaesong industrial zone. North Korea has previously scrapped a military pact signed in 2018 aimed at de-escalating tensions near the military border. South Korean President Yoon Suk-yeol called the shift in Pyongyang's inter-Korea policy "an extraordinary change" but said the North Korean leadership is "not a rational group."
#NorthKorea #SouthKorea #EconomicCooperation #MountKumgang #KaesongIndustrialZone