China’s 25 best start-ups to work for, according to LinkedIn

China’s hottest start-ups right now are those making major breakthroughs in artificial intelligence, according a new report from LinkedIn. Artificial intelligence businesses taking the lead in autonomous driving are among the most popular companies to work for in the country, dominating six of the top 10 positions in LinkedIn’s list of the best start-ups 2019. Horizon RoboticsGlobal headcount: 1,200 Headquarters: Beijing Artificial intelligence business Horizon Robotics produces technologies for


China’s hottest start-ups right now are those making major breakthroughs in artificial intelligence, according a new report from LinkedIn. Artificial intelligence businesses taking the lead in autonomous driving are among the most popular companies to work for in the country, dominating six of the top 10 positions in LinkedIn’s list of the best start-ups 2019. Horizon RoboticsGlobal headcount: 1,200 Headquarters: Beijing Artificial intelligence business Horizon Robotics produces technologies for
China’s 25 best start-ups to work for, according to LinkedIn Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: karen gilchrist
Keywords: news, cnbc, companies, chinas, headcount, shanghai, beijing, business, headquarters, work, linkedin, company, intelligence, technology, according, startups, best, startup, artificial


China's 25 best start-ups to work for, according to LinkedIn

China’s hottest start-ups right now are those making major breakthroughs in artificial intelligence, according a new report from LinkedIn. Artificial intelligence businesses taking the lead in autonomous driving are among the most popular companies to work for in the country, dominating six of the top 10 positions in LinkedIn’s list of the best start-ups 2019. But it is internet behemoth and online content platform ByteDance that tops the ranks as China’s most popular start-up this year. To be considered for this year’s list, companies had to be privately-held, be seven years or younger, and have 50 or more employees. They were then ranked based on LinkedIn user feedback across four criteria: Employment growth; engagement with employees; job interest; and ability to attract top talent from leading employers. CNBC Make It takes a look at the list of the 25 most attractive start-ups in China right now.

Top 25:

10. Tongdun Technology

Global headcount: 1,300 Headquarters: Hangzhou Hangzhou-headquartered Tongdun Technology is a risk management start-up launched in 2013 to help businesses with their decision-making processes. Six years on, the company has received several innovation awards and served 5,000 corporate customers from its 13 offices across Asia Pacific and the U.S.

Inside Tongdun Technology’s office. Tongdun Technology

9. Horizon Robotics

Global headcount: 1,200 Headquarters: Beijing Artificial intelligence business Horizon Robotics produces technologies for use in applications such as smart driving. The four-year-old start-up this year completed a $600 million Series B funding round, which valued the company at $3 billion. It was founded by the former head of Baidu’s Deep Learning Institute, Dr. Yu Kai.

8. Cambricon

Global headcount: 1,000 Headquarters: Beijing Three-year-old start-up Cambricon is an artificial intelligence chip developer. The 1,000-strong workforce is highly skilled, with 65% having a master’s degree in software algorithms, chip design and computer architecture. The fast-growing business is currently hiring across its offices in Beijing, Shanghai, Shenzhen, Xi’an, Hefei and Nanjing.

7. WM Motor

Global headcount: 3,000 Headquarters: Shanghai Autos manufacturer WM Motor launched in Shanghai in 2015 to drive ahead in the electric vehicles market. The four-year-old business, which has raised over $3 billion so far, has developed two electric vehicles to date and has ambitions to become a “new eco-service provider.”

6. 4Paradigm

Global headcount: 500-1,000 Headquarters: Beijing 4Paradigm is an artificial intelligence and technology provider for business clients. The company’s youthful workforce has an average age of 30, and more than half of them are university graduates with expertise in new technologies such as machine learning. The company is currently recruiting in its Beijing, Shanghai and Shenzhen offices.

5. Momenta.ai

Global headcount: 500-1,000 Headquarters: Beijing Momenta.ai in its own words “builds autonomous driving brains.” The auto business, which has products including highway autopilot and autonomous parking, last year became China’s first autonomous driving unicorn after receiving backing from Tencent and several state-owned investors.

4. YITUTech

Global headcount: 1,000 Headquarters: Shanghai YITUTech is an artificial intelligence start-up that provides facial recognition technology to businesses in industries ranging from security and medicine, to finance and retail. Currently, the $2 billion company is hiring specialists in engineering, research and development and project management in Shanghai and Beijing.

3. Bitmain

Global headcount: 2,500 Headquarters: Beijing Bitmain is a semiconductor design company known for its custom chip design for bitcoin mining machines. The business’ headquarters are in Beijing, but its has research centers globally — including the U.S., Canada, Switzerland, Russia and Brazil. It currently accepts unsolicited job applications.

2. DiDi

Global headcount: 5,000 Headquarters: Beijing DiDi Chuxing, commonly known as DiDi, is a Chinese ride-hailing business headquartered in Beijing. The company provides a full breadth of transportation services — ranging from taxis to buses and e-bikes — in over 1,000 cities worldwide. The seven-year-old start-up is also developing its own autonomous driving capabilities and has been hiring significantly in this area.

1. ByteDance

Global headcount: 50,000 Headquarters: Beijing ByteDance, which earlier this year was ranked by LinkedIn as one of the best companies to work for in China, also tops the charts for the country’s best start-up. The internet technology business has seen rapid growth in its seven years and now boasts a 50,000-strong workforce and several content platforms including news site Toutiao (meaning headlines) and video-sharing app TikTok. Increasingly, the company is focused on using machine-learning technology to tailor their product to audience’s interests, and is hiring in this regard.


Company: cnbc, Activity: cnbc, Date: 2019-09-04  Authors: karen gilchrist
Keywords: news, cnbc, companies, chinas, headcount, shanghai, beijing, business, headquarters, work, linkedin, company, intelligence, technology, according, startups, best, startup, artificial


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Responding to leaked recording, Hong Kong leader says she never tendered resignation to Beijing

The choice of resigning, it’s my own choice,” Lam said. The growing unrest has morphed into a broader call for Chinese-ruled Hong Kong to be granted greater autonomy by Beijing, which has accused foreign powers, particularly the United States and Britain, of fomenting the unrest. But Lam said on Tuesday that her government had the confidence of Beijing and could bring an end to unrest itself. “I think I can lead my team to help Hong Kong to walk out from this dilemma. “Up till now, the central g


The choice of resigning, it’s my own choice,” Lam said. The growing unrest has morphed into a broader call for Chinese-ruled Hong Kong to be granted greater autonomy by Beijing, which has accused foreign powers, particularly the United States and Britain, of fomenting the unrest. But Lam said on Tuesday that her government had the confidence of Beijing and could bring an end to unrest itself. “I think I can lead my team to help Hong Kong to walk out from this dilemma. “Up till now, the central g
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Responding to leaked recording, Hong Kong leader says she never tendered resignation to Beijing

Hong Kong leader Carrie Lam said on Tuesday she has never asked the Chinese government to let her resign to end the city’s political crisis, responding to a Reuters report about a voice recording of her saying she would step down if she could.

Hundreds of thousands of people have taken to the streets since mid-June in protests at a now-suspended extradition bill which would see people sent to mainland China for trial in Communist Party controlled courts.

Lam told business leaders last week that she had caused “unforgivable havoc” by introducing the extradition bill and that if she had a choice then she would apologize and resign, according to a leaked audio recording.

Lam, a lightning rod for protesters’ anger, told a televised news conference on Tuesday that she had never considered asking to resign and that Beijing believed her government could solve the three-months long crisis without mainland China’s intervention.

“I have not even contemplated discussing a resignation with the central people’s government. The choice of resigning, it’s my own choice,” Lam said.

“I told myself repeatedly in the last three months that I and my team should stay on to help Hong Kong … That’s why I said that I have not given myself the choice to take an easier path and that is to leave.”

Lam added that she was disappointed that comments made in a private meeting, where she had been sharing the “journey of my heart,” had been leaked.

Comments on the Reuters story appeared to be censored on mainland Chinese social media, although state media covered Lam’s Tuesday press conference.

The growing unrest has morphed into a broader call for Chinese-ruled Hong Kong to be granted greater autonomy by Beijing, which has accused foreign powers, particularly the United States and Britain, of fomenting the unrest.

In the audio recording, Lam said that her ability to resolve the crisis was now “very, very limited” as she has to serve “two masters” and the issue had been elevated “to a national level”, a reference to the leadership in Beijing.

But Lam said on Tuesday that her government had the confidence of Beijing and could bring an end to unrest itself.

“I think I can lead my team to help Hong Kong to walk out from this dilemma. I still have the confidence to do this,” she said. “Up till now, the central government still thinks (the Hong Kong) government has the ability to handle this.”


Company: cnbc, Activity: cnbc, Date: 2019-09-03
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Trump ‘doesn’t necessarily need a deal’ with Beijing to be reelected, says US-China Business Council

U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council. The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday. Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacture


U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council. The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday. Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacture
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Trump 'doesn't necessarily need a deal' with Beijing to be reelected, says US-China Business Council

U.S. President Donald Trump “doesn’t necessarily need a deal” with Beijing in order to be reelected in the 2020 presidential race, says a senior director at the U.S.-China Business Council.

“As long as the trade war that we’re in right now isn’t having an impact on the United States’ economy that is demonstrably bad for regular Americans … being tough on China, looking tough, is probably enough,” Anna Ashton, senior director of government affairs at the U.S.-China Business Council, told CNBC’s “Street Signs” on Monday.

Still, she added, the new tariffs that went into effect over the weekend — along with those that will take place in December — will “hit every consumer product that Americans buy.”

The U.S. and China have increased tariffs on billions of dollars of each other’s goods since last year, and the latest round of levies kicked in on Sunday.

Globally, the trade fight has roiled investment markets and dampened world economic outlook. Domestically, American businesses from farmers to manufacturers to tech firms have been hurt by the tariffs and are urging both sides to refrain from further escalation.

“I have a hard time imagining that we will get to the 2020 election without seeing a significant impact to people’s pocketbooks,” Ashton said.


Company: cnbc, Activity: cnbc, Date: 2019-09-03  Authors: eustance huang
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Solomon Islands eyes shift in diplomatic ties to China from Taiwan

Solomon Islands President Manasseh Sogavare (R) and Taiwan President Tsai Ing-wen (L) inspect an honour guard during a welcome ceremony in Taipei on September 26, 2017. “It doesn’t take much imagination to work out what the task force will recommend,” added Kenilorea, whose panel will review the recommendations. The Solomons’ task force and government officials did not respond to requests for comment. Taiwan’s embassy in the Solomon Islands did not immediately respond to questions. “At this poin


Solomon Islands President Manasseh Sogavare (R) and Taiwan President Tsai Ing-wen (L) inspect an honour guard during a welcome ceremony in Taipei on September 26, 2017. “It doesn’t take much imagination to work out what the task force will recommend,” added Kenilorea, whose panel will review the recommendations. The Solomons’ task force and government officials did not respond to requests for comment. Taiwan’s embassy in the Solomon Islands did not immediately respond to questions. “At this poin
Solomon Islands eyes shift in diplomatic ties to China from Taiwan Cached Page below :
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Solomon Islands eyes shift in diplomatic ties to China from Taiwan

Solomon Islands President Manasseh Sogavare (R) and Taiwan President Tsai Ing-wen (L) inspect an honour guard during a welcome ceremony in Taipei on September 26, 2017.

The Solomon Islands, one of Taiwan’s few remaining diplomatic allies, has formed a team of ministers to talk to Beijing ahead of a possible switch in ties that could be unveiled as early as this week, the chief of a parliamentary panel said.

The Pacific island nation has recognised self-ruled Taiwan since 1983 but would be a prized chip for China in its bid to peel away the allies of what it considers a wayward province with no right to state-to-state ties, taking their number to 16.

“There’s a certain thinking with the current government and executive to switch,” Peter Kenilorea, an opposition lawmaker who chairs a foreign relations parliamentary committee, told Reuters.

“The amount of money that has already been spent by the government on this is quite telling.”

A task force charged with evaluating the Taiwan ties returned from a tour of Pacific nations allied to China just before a mid-August visit to Beijing by eight Solomons ministers and the prime minister’s private secretary.

“It doesn’t take much imagination to work out what the task force will recommend,” added Kenilorea, whose panel will review the recommendations.

The task force, set up by new Prime Minister Manasseh Sogavare after a general election in April, could present its recommendations as early as this week, parliament schedules show.

The government has said the ministerial group only visited Beijing.

Both the task force and panel of ministers were clearly leaning towards Beijing, said a government lawmaker who declined to be named, but did not rule out the possibility of a surprise.

The Solomons’ task force and government officials did not respond to requests for comment. Taiwan’s embassy in the Solomon Islands did not immediately respond to questions.

The Solomon Islands-China Friendship Association, which represents China in the island nation, said that while it was not privy to political discussions, it appeared that the government was split over the issue.

“At this point, it remains unclear whether the Solomon Islands government will agree on a switch to China or remain with the status quo,” it told Reuters in an emailed statement.

China’s foreign ministry in Beijing did not immediately respond to questions.

China, which fears that President Tsai Ing-wen wants to push for Taiwan’s formal independence, has mounted a concerted campaign to lure away its remaining diplomatic allies.

El Salvador in Central America, along with Burkina Faso in West Africa and the Dominican Republic in the Caribbean, all severed ties with Taiwan last year.


Company: cnbc, Activity: cnbc, Date: 2019-09-02
Keywords: news, cnbc, companies, islands, beijing, force, task, china, solomon, taiwans, diplomatic, eyes, ties, ministers, shift, taiwan


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Asia stocks mixed amid positive signals from Beijing on US-China trade

Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now. In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1


Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now. In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1
Asia stocks mixed amid positive signals from Beijing on US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: eustance huang
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Asia stocks mixed amid positive signals from Beijing on US-China trade

Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now.

In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86.

Similar gains were seen in South Korea, where the Kospi finished the session 1.78% higher at 1,967.79 as chipmaker SK Hynix saw its stock soar 5.59%.

The Bank of Korea left its benchmark interest rate unchanged on Friday, a decision that was in line with expectations of analysts surveyed by Reuters. The central bank had cut its base rate for the first time in three years in July.

Australia’s S&P/ASX 200 jumped 1.49% to close at 6,604.20.

Mainland Chinese shares, on the other hand, slipped on the day. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1,579.25.

Hong Kong’s Hang Seng index was fractionally higher, as of its final hour of trading, with the city remaining in a state of turmoil as planned protests for the weekend were cancelled and pro-democracy activist Joshua Wong was arrested.

Overall, the MSCI Asia ex-Japan index gained 0.95%.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: eustance huang
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Asia stocks mixed amid positive signals from Beijing on US-China trade

Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now. In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1


Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now. In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1
Asia stocks mixed amid positive signals from Beijing on US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: eustance huang
Keywords: news, cnbc, companies, higher, index, asia, uschina, rate, close, signals, trading, positive, korea, day, stocks, shenzhen, trade, shares, amid, composite, beijing, mixed


Asia stocks mixed amid positive signals from Beijing on US-China trade

Stocks in Asia were mixed on Friday as Beijing hinted that it will not retaliate against the latest round of tariffs from Washington for now.

In Japan, the Nikkei 225 rose 1.19% to close at 20,704.37 as shares of index heavyweight and robot maker Fanuc surged 2.73%. The Topix index also added 1.46% to end its trading day at 1,511.86.

Similar gains were seen in South Korea, where the Kospi finished the session 1.78% higher at 1,967.79 as chipmaker SK Hynix saw its stock soar 5.59%.

The Bank of Korea left its benchmark interest rate unchanged on Friday, a decision that was in line with expectations of analysts surveyed by Reuters. The central bank had cut its base rate for the first time in three years in July.

Australia’s S&P/ASX 200 jumped 1.49% to close at 6,604.20.

Mainland Chinese shares, on the other hand, slipped on the day. The Shanghai composite was down 0.16% to about 2,886.24 and the Shenzhen component shedding 0.35% to 9,365.68. The Shenzhen composite fell 0.744% to approximately 1,579.25.

Hong Kong’s Hang Seng index was fractionally higher, as of its final hour of trading, with the city remaining in a state of turmoil as planned protests for the weekend were cancelled and pro-democracy activist Joshua Wong was arrested.

Overall, the MSCI Asia ex-Japan index gained 0.95%.


Company: cnbc, Activity: cnbc, Date: 2019-08-30  Authors: eustance huang
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Mike Pompeo says ‘something like Tiananmen Square’ in Hong Kong would make a US-China trade deal ‘more difficult’

It would be “more difficult” to reach a trade deal if the protests end “in a way that there was violence — the president said something like Tiananmen Square,” Pompeo said in an interview on “Squawk Box. ” He was referring to the 1989 student-led demonstrations in Beijing’s Tiananmen Square, which ended in mass bloodshed after government-deployed soldiers and tanks and fired on those protesters. “I hope that the trade negotiations move forward, and I hope that Hong Kong is resolved in a peaceful


It would be “more difficult” to reach a trade deal if the protests end “in a way that there was violence — the president said something like Tiananmen Square,” Pompeo said in an interview on “Squawk Box. ” He was referring to the 1989 student-led demonstrations in Beijing’s Tiananmen Square, which ended in mass bloodshed after government-deployed soldiers and tanks and fired on those protesters. “I hope that the trade negotiations move forward, and I hope that Hong Kong is resolved in a peaceful
Mike Pompeo says ‘something like Tiananmen Square’ in Hong Kong would make a US-China trade deal ‘more difficult’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: kevin breuninger
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Mike Pompeo says 'something like Tiananmen Square' in Hong Kong would make a US-China trade deal 'more difficult'

A trade deal between the U.S. and China would be less likely if President Xi Jinping’s government cracks down violently on the large-scale protests in Hong Kong, Secretary of State Mike Pompeo told CNBC on Tuesday.

It would be “more difficult” to reach a trade deal if the protests end “in a way that there was violence — the president said something like Tiananmen Square,” Pompeo said in an interview on “Squawk Box. ”

He was referring to the 1989 student-led demonstrations in Beijing’s Tiananmen Square, which ended in mass bloodshed after government-deployed soldiers and tanks and fired on those protesters.

“I hope that the trade negotiations move forward, and I hope that Hong Kong is resolved in a peaceful way. Those would be the best outcomes for both China and the United States,” Pompeo said.

Hong Kong has for weeks been roiled by massive protests that have resulted in tense clashes with police.

The protests stemmed from opposition to an extradition bill that critics say would have given Beijing undue control over Hong Kong. But after the bill was suspended, the scope of the protest movement expanded to encompass issues of civil rights and democracy. When Britain handed over Hong Kong to China in 1997, Beijing promised that Hong Kong’s economic and political systems would not be changed for 50 years.

Over the weekend, President Donald Trump said that a trade deal “would be very hard” to do “if they do violence. If it’s another Tiananmen Square … I think it’s a very hard thing to do if there’s violence.”

Republican and Democratic lawmakers alike have come out in support of the protesters. But the movement against Chinese interference complicates the political landscape for Trump, who has sought a trade deal with Beijing that addresses issues such as trade deficits, the alleged theft of intellectual property and forced technology transfers.

Even without factoring in Hong Kong’s impact on negotiations, the trade war between the two economic superpowers has shown little sign of slowing down. The U.S. has imposed 25% tariffs on about $250 billion worth of Chinese imports, while Beijing has responded with its own tariffs on $110 billion in U.S. goods.

Despite the White House’s decision last week to delay some new tariffs on Chinese goods to spare American holiday shoppers, billions in that country’s imports will be taxed on Sept. 1. The rest of that round of tariffs, which will cover roughly the remaining $300 billion in goods bought from China, are slated to go into effect Dec. 15.

China had initially responded to the prospect of new tariffs by announcing that it would no longer buy U.S. agricultural products. The U.S. then labeled China a currency manipulator.


Company: cnbc, Activity: cnbc, Date: 2019-08-20  Authors: kevin breuninger
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Cathay’s ‘unusual position’ makes it ‘vulnerable to pressure’ from Beijing, analyst says

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The company was recently caught in the Hong Kong protests, where staff reportedly took part in the pro-democracy rallies that have enraged Beijing. Innes-Ker said “companies may find that their employees’ activism turns into a political risk in mainland China, if this campaigning becomes associated with the firm’s brand.” “There are a lot of things within China t


Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. The company was recently caught in the Hong Kong protests, where staff reportedly took part in the pro-democracy rallies that have enraged Beijing. Innes-Ker said “companies may find that their employees’ activism turns into a political risk in mainland China, if this campaigning becomes associated with the firm’s brand.” “There are a lot of things within China t
Cathay’s ‘unusual position’ makes it ‘vulnerable to pressure’ from Beijing, analyst says Cached Page below :
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Cathay's 'unusual position' makes it 'vulnerable to pressure' from Beijing, analyst says

Rupert Hogg, chief executive officer of Cathay Pacific Airways Ltd., attends a news conference in Hong Kong, China, on Wednesday, Mar. 13, 2019. The airline announced Hogg’s resignation on Mar.16. Bloomberg | Bloomberg | Getty Images

Cathay Pacific’s CEO Rupert Hogg officially stepped down on Monday amid what the company called “challenging weeks for the airline.” The company was recently caught in the Hong Kong protests, where staff reportedly took part in the pro-democracy rallies that have enraged Beijing. Hogg’s sudden resignation was announced days after China’s Civil Aviation Administration issued a “major aviation safety risk warning” to the airline. Hong Kong, a special administrative region of China, has seen more than 11 weeks of protests over a now-suspended extradition bill that would have allowed people in the territory to be sent to the mainland for trial.

Most firms in Hong Kong that engage in business with mainland China know that there is always a degree of political risk that needs to be navigated. Duncan Innes-Ker The Economist Intelligence Unit

In a statement released Friday, the company said it remains fully committed to Hong Kong under the principle of “One Country, Two Systems” — which allows the territory a certain degree of legal and economic autonomy.

Cathay’s close China links

Two of the airline’s largest shareholders are Swire Group — a Hong Kong and London-based diversified conglomerate that owns 45% of the airline — and Air China, a Chinese state-owned air carrier group which owns 22.65% of Cathay, according to data provided by Refinitiv. Hogg’s sudden resignation is a special case on its own, said Duncan Innes-Ker, regional director for Asia at The Economist Intelligence Unit. “Cathay is in a slightly unusual position in that a large Chinese (state-owned enterprise) has a significant stake in its share ownership,” Innes-Ker said. “Companies that have an SOE as an equity partner are likely to be especially vulnerable to pressure from the Chinese authorities. Cathay’s China routes are also crucial to its business model and future growth, so this makes it doubly susceptible,” he told CNBC. He explained that “most firms in Hong Kong that engage in business with mainland China know that there is always a degree of political risk that needs to be navigated.”

Innes-Ker said “companies may find that their employees’ activism turns into a political risk in mainland China, if this campaigning becomes associated with the firm’s brand.” Just over a week ago, the airline said employees who “support or take part in illegal protests, violent actions, or overly radical behaviour” would be barred from crewing flights to mainland China. The airline also fired two pilots over their involvement in the protests.

External pressure from Beijing

Since the former British colony was handed over to Beijing in 1997, China has very much recognized it needs Hong Kong, David Dodwell, executive director at HK-APEC Trade Policy Group told CNBC in early August. That was especially true when China was still opening up to the rest of the world, he said at that time. “There are a lot of things within China that can’t be done in China, and Hong Kong is indispensable for that,” Dodwell said. The city is not just a financial capital but also an important “headquarter capital, ” he added, explaining that many Chinese and foreign companies use Hong Kong as their headquarters because of the array of services the city offers.

Protesters take part in a rally against extradition bill on July 1, 2019 in Hong Kong, China. Billy H.C. Kwok | Getty Images


Company: cnbc, Activity: cnbc, Date: 2019-08-19  Authors: grace shao
Keywords: news, cnbc, companies, vulnerable, kong, airline, position, analyst, chinese, political, hong, pressure, mainland, makes, resignation, beijing, protests, unusual, cathays, risk, china


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JP Morgan says new US tariffs will test China’s ability to prop up its economy

President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. New U.S. tariffs on Chinese goods could deal another blow to the Asian economic giant — and it’s not clear how much more Beijing can do to prop up its economy, an economist from J.P. Morgan said on Friday. Since the ongoing tariff fight between Washington and Beijing started about a year ago, Chinese authorities have used both monetary a


President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. New U.S. tariffs on Chinese goods could deal another blow to the Asian economic giant — and it’s not clear how much more Beijing can do to prop up its economy, an economist from J.P. Morgan said on Friday. Since the ongoing tariff fight between Washington and Beijing started about a year ago, Chinese authorities have used both monetary a
JP Morgan says new US tariffs will test China’s ability to prop up its economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: yen nee lee
Keywords: news, cnbc, companies, economy, ability, chinese, economic, xi, damage, chinas, encouraging, beijing, morgan, president, tariffs, jp, economist, test, prop


JP Morgan says new US tariffs will test China's ability to prop up its economy

President Donald Trump meets with China’s President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019.

New U.S. tariffs on Chinese goods could deal another blow to the Asian economic giant — and it’s not clear how much more Beijing can do to prop up its economy, an economist from J.P. Morgan said on Friday.

Since the ongoing tariff fight between Washington and Beijing started about a year ago, Chinese authorities have used both monetary and fiscal policies to limit the economic damage brought on by elevated U.S. tariffs. Those measures have worked to some extent, according to Bruce Kasman, chief economist and head of global economic research at the investment bank.

“I think it’s encouraging to see they’ve been moving on multiple fronts, it’s encouraging to see that it’s having some effect on the economy,” he told CNBC’s “Squawk Box.”

“But boy, we just haven’t seen how far the latest damage is going to be,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: yen nee lee
Keywords: news, cnbc, companies, economy, ability, chinese, economic, xi, damage, chinas, encouraging, beijing, morgan, president, tariffs, jp, economist, test, prop


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Hong Kong protests will be ‘settled or crushed’ ahead of China national celebrations, analyst says

The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day. The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday. In fact, the politics go hand in hand with the Chinese economy, Roche said. “I don’t accept this will be a small scale problem in a


The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day. The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday. In fact, the politics go hand in hand with the Chinese economy, Roche said. “I don’t accept this will be a small scale problem in a
Hong Kong protests will be ‘settled or crushed’ ahead of China national celebrations, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: grace shao
Keywords: news, cnbc, companies, kong, roche, economy, hong, beijing, dont, national, settled, analyst, hand, celebrations, china, protests, crushed, ahead, trade, talks


Hong Kong protests will be 'settled or crushed' ahead of China national celebrations, analyst says

The months-long protests in Hong Kong could come to an end soon, according to strategist David Roche, who said they will “be settled or crushed” before October 1 — the 70th anniversary of China’s National Day.

The way China responds to the situation in the city is crucial in determining how markets and U.S.-China trade talks will be affected, he told CNBC on Friday.

In fact, the politics go hand in hand with the Chinese economy, Roche said.

“I don’t accept this will be a small scale problem in a larger China economy. The reason I don’t is because I believe any intervention (from Beijing) to Hong Kong will be immediately, umbilically, linked to what happens to trade talks and international relations globally,” said Roche, who is president at research and investment consulting firm Independent Strategy.

Roche said “Beijing has to weigh in on two things: the political and economic cause.”


Company: cnbc, Activity: cnbc, Date: 2019-08-16  Authors: grace shao
Keywords: news, cnbc, companies, kong, roche, economy, hong, beijing, dont, national, settled, analyst, hand, celebrations, china, protests, crushed, ahead, trade, talks


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