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Media Report
November 17 , 2016
  • The Wall Street Journal：Panel Recommends Banning Chinese State Companies From U.S. Acquisitions
    The Wall Street Journal reports: "Chinese state-owned companies should be barred from making acquisitions in the U.S., a Washington government commission said Wednesday. The recommendation from the U.S.-China Economic and Security Review Commission is likely to inform the incoming Trump administration as it evaluates the open-investment policy of the Obama administration that has coincided with a surge in purchases from Chinese investors, some connected to the state. 'There is an inherently high risk that whenever [a state-owned enterprise] acquires or gains effective control of a U.S. company, it will use the technology, intelligence and market power it gains in the service of the Chinese state to the detriment of U.S. national security,' said the U.S. commission...But it isn't clear whether Mr. Trump would want to use officials at CFIUS to limit Chinese acquisitions as a lever on trade. Most recent U.S. presidents have affirmed the U.S. open-investment policy as vital for the economy."
  • The New York Times：JPMorgan Is Said to Settle Bribery Case Over Hiring in China
    The New York Times reports: "After more than three years of digging into JPMorgan Chase's hiring practices in China, federal authorities have determined that the bank hired the children of Chinese leaders as part of a quid pro quo to win business in the booming nation, clearing the way for a costly punishment. As soon as Thursday, the authorities will announce a roughly $264 million settlement with the bank and its Hong Kong subsidiary, according to people briefed on the matter who spoke on the condition of anonymity. The authorities, which include criminal prosecutors and civil regulators, will accuse the bank of orchestrating a long-running foreign bribery scheme...The China settlement will now put to rest one of the last big regulatory headaches for the bank. Some of the senior bankers suspected of carrying out the hiring have since left JPMorgan."
  • The Associated Press：China Doubles Down on Internet Control After Tough New Law
    The Associated Press reports: "China's leaders and official media are pushing for greater control of the internet and technology products as tensions surrounding a far-reaching Chinese cybersecurity law loom over a gathering this week of the world's leading tech firms and Chinese officials. The Communist Party's mouthpiece People's Daily warned in an editorial on Thursday that China must break monopolies over core technologies and standards and remain untethered to other countries' technology supply chains...The conference this week has highlighted U.S. and China's competing and increasingly entrenched views about the internet, trade and cybersecurity, and the potential for these issues to become an enduring irritant in bilateral relations."
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