On September 16, The Wall Street Journal disclosed that Zhengzhou Zhirong Network Technology Company used AI technology to organize stolen foreign government classified data and sold intelligence to the Chinese public (Public Security) organs, involving secrets of countries such as Russia, the Philippines, Pakistan, and the Vatican.
On September 15, The Wall Street Journal published an article pointing out that while China can avoid a sudden financial crisis through its state-controlled financial system, the losses from real estate and bank bad loans will not disappear. Economist Michael Pettis believes that the losses will be borne by ordinary residents in the long run through low deposit returns and shrinking asset values, rather than manifesting in public forms such as bank failures.
US officials have revealed evidence indicating that Iran obtained high-resolution satellite imagery of the Muwaffaq Salti Air Base in Jordan from Chinese entities before launching an attack on the base in July, which resulted in the deaths of three US soldiers and injuries to four. The US has raised the issue with China, but has been rebuffed. This incident further complicates the backdrop for the US-China summit on September 24th.
The lawsuit filed by Hong Kong Journalists Association Chairwoman Ronson Chan Man-fai against Dow Jones, the parent company of The Wall Street Journal, over his dismissal has concluded. The court ruled that Dow Jones obstructed the exercise of union rights, but the claim of illegal dismissal was not established. Sentencing will be scheduled for a later date.
Yi Huiman, the former boss of Fang Xinghai, has been investigated. The official notice mentions that he sought benefits for others in areas such as corporate listing, financing, and loans.
Incumbent CSRC Vice Chairman Wang Jianjun is under investigation.
The Central Commission for Discipline Inspection (CCDI) has issued a notice announcing that Fang Xinghai is under investigation for serious violations of discipline and law.
Fang Xinghai was scheduled to attend and deliver a speech at the China Wealth Management 50 Forum in Beijing, but he did not appear, and his nameplate was left empty.
The China Securities Regulatory Commission (CSRC) has approved the suspension of the securities lending business, a practice previously promoted by Fang Xinghai and widely regarded by retail investors as a tool for 'leek-cutting' (fleecing investors).
Fang Xinghai attends the Summer Davos Forum to discuss potential changes in China's private equity and venture capital following U.S. restrictions on capital entering China.
At the Lujiazui Forum, Fang Xinghai suggested that Hong Kong attract mainland quantitative investment firms, stating that their management capabilities and technical levels are on par with international peers.
The Wall Street Journal reported that Ant Group's equity structure includes capital linked to political families, including Boyu Capital, which was co-founded by Alvin Jiang.
Ant Group's IPO plan was halted, with officials citing changes in financial risk regulation and information disclosure issues as the reasons.
The Shanghai Stock Exchange suddenly announced the suspension of Ant Group's listing process on the STAR Market, even though the project had already entered its final stage.
The Wall Street Journal reporter Lingling Wei published a report on Fang Xinghai containing internal details, released just over six hours before the announcement by the Central Commission for Discipline Inspection.