Business
Ex-vice-mayor of Chongqing tried
Wang Lijun, Chongqing’s former vice-mayor and police chief, was tried on Tuesday in a court in Chengdu, Sichuan province, on charges of bribe-taking and bending the law for selfish ends.The Chengdu Intermediate People’s Court had held a closed-door trial on Monday on Wang’s two other charges – defection, and abuse of power.According to the indictment of the Chengdu People’s Procuratorate, Wang, then-chief of Chongqing’s Public Security Bureau, neglected his duty of investigating and suppressing criminal acts and bent the law for personal gain.Prosecutors said Wang knew that Bogu Kailai was under serious suspicion of intentional homicide, but he deliberately covered up for her so that she would not be held legally responsible.The circumstances are especially serious. His behavior violated Clause 1 of Article 399 of the Criminal Law of the People’s Republic of China, prosecutors said.They added that Wang, as a State functionary who knew State secrets, left his post without authorization and defected to another country’s consulate while he was performing his official duties.Those circumstances are also serious, as his behavior violated Article 109 of the Criminal Law, according to prosecutors.Wang further violated the country’s laws and regulations by using technical reconnaissance measures against many people on multiple occasions, either without the approval of authorities or by forging approval documents.These acts have severely undermined the socialist rule of law, and infringed upon citizens’ legitimate rights and interests, prosecutors said.Wang, acting as a State functionary, took advantage of his position and illegally accepted money and property worth more than 3.05 million yuan ($484,100) in return for securing benefits for other individuals. His behavior has violated Article 385 of the Criminal Law.He should be held criminally responsible on charges of bending the law for selfish ends, defection, abuse of power and bribe-taking, according to prosecutors.According to prosecutors, Wang later ordered his police subordinates in Chongqing to collect and preserve evidence of the murder case involving Bogu Kailai.
Wang Lijun, Chongqing’s former vice-mayor and police chief, was tried on Tuesday in a court in Chengdu, Sichuan province, on charges of bribe-taking and bending the law for selfish ends.The Chengdu Intermediate People’s Court had held a closed-door trial on Monday on Wang’s two other charges – defection, and abuse of power.According to the indictment of the Chengdu People’s Procuratorate, Wang, then-chief of Chongqing’s Public Security Bureau, neglected his duty of investigating and suppressing criminal acts and bent the law for personal gain.Prosecutors said Wang knew that Bogu Kailai was under serious suspicion of intentional homicide, but he deliberately covered up for her so that she would not be held legally responsible.The circumstances are especially serious. His behavior violated Clause 1 of Article 399 of the Criminal Law of the People’s Republic of China, prosecutors said.They added that Wang, as a State functionary who knew State secrets, left his post without authorization and defected to another country’s consulate while he was performing his official duties.Those circumstances are also serious, as his behavior violated Article 109 of the Criminal Law, according to prosecutors.Wang further violated the country’s laws and regulations by using technical reconnaissance measures against many people on multiple occasions, either without the approval of authorities or by forging approval documents.These acts have severely undermined the socialist rule of law, and infringed upon citizens’ legitimate rights and interests, prosecutors said.Wang, acting as a State functionary, took advantage of his position and illegally accepted money and property worth more than 3.05 million yuan ($484,100) in return for securing benefits for other individuals. His behavior has violated Article 385 of the Criminal Law.He should be held criminally responsible on charges of bending the law for selfish ends, defection, abuse of power and bribe-taking, according to prosecutors.According to prosecutors, Wang later ordered his police subordinates in Chongqing to collect and preserve evidence of the murder case involving Bogu Kailai.
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Ex-vice-mayor of Chongqing tried
Business
Henry Keswick: The Jardine Scion Who Transformed China’s Business Landscape
Henry Keswick, 86, a key figure in Jardine Matheson, passed away as the U.S. awaited election results, amid heightened tensions in U.S.-China relations during Trump’s presidency.
Henry Keswick’s Legacy
HONG KONG — The world turned its attention to the U.S. presidential election as news broke of Henry Keswick’s passing at the age of 86. A fourth-generation member of the British conglomerate Jardine Matheson, Keswick had a profound influence on the company, which has deep roots in Asia.
Navigating Challenges
Keswick’s leadership spanned significant challenges, including a strained relationship between the U.S. and China, particularly as Donald Trump prepared for his return to the White House. Under his stewardship, Jardine Matheson navigated a complex landscape in retail and real estate that dovetailed with geopolitical shifts.
A Lasting Impact
His contributions to Jardine Matheson and the broader business community have left an indelible mark. As companies reposition themselves amidst evolving international dynamics, Keswick’s legacy will undoubtedly continue to shape the future of the conglomerate he led.
Source : Henry Keswick, the Jardines scion who razed then restored China business
Business
Faurecia Relocates Electronics Headquarters from Japan to China – Automotive News
Faurecia relocates its electronics business headquarters from Japan to China, signaling a strategic shift to enhance operational efficiency and strengthen its presence in the growing Chinese automotive market.
Faurecia’s Strategic Shift
Faurecia has announced the relocation of its electronics business headquarters from Japan to China. This move is aimed at enhancing the company’s presence in a rapidly growing market for automotive technologies. By shifting its base, Faurecia intends to optimize operations and better serve its clientele across Asia.
Strengthening Market Position
The decision is part of Faurecia’s strategy to consolidate its resources in regions where electric and hybrid vehicle demand is soaring. As China leads the global automotive market in innovative technologies, the relocation will allow Faurecia to align its efforts with industry trends and consumer needs.
Future Aspirations
With this strategic shift, Faurecia aims to drive innovation and expand its production capabilities in China. The company expects this decision to create new growth opportunities and help solidify its competitive edge in the evolving automotive landscape.
Source : Faurecia moves headquarters of electronics business from Japan to China – Automotive News
Business
AstraZeneca Stock Declines Amid Reports of Possible Probe Fallout in China – Reuters
AstraZeneca shares declined following reports of potential repercussions from a probe in China, highlighting concerns over regulatory scrutiny and its impact on the company’s operations and financial performance.
AstraZeneca Under Scrutiny
AstraZeneca faces potential fallout from a reported investigation in China, leading to a noticeable decline in its share price. Investors reacted sharply to the news, reflecting concerns over possible regulatory pressures that could impact the pharmaceutical company’s operations in the region. The drop in shares has prompted analysts to scrutinize the implications of this development for the company’s future prospects.
Market Reactions
The market’s immediate response indicates significant unease among shareholders as they weigh the risks associated with the potential probe. Financial analysts suggest that if the investigation leads to strict regulations or penalties, AstraZeneca could face challenges in maintaining its market position. This uncertainty highlights the fragile nature of investor confidence in the pharmaceutical sector, particularly in international markets like China.
Future Implications
As AstraZeneca navigates this turbulent situation, it remains to be seen how the investigation will unfold and what direct impact it will have on the company’s strategic direction. Keeping a close eye on the developments will be crucial for stakeholders. The pharmaceutical giant’s ability to respond effectively to these challenges will determine its future stability in the competitive global market.
Source : AstraZeneca shares fall on report of potential China probe fallout – Reuters
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