Jan 6, 2021
The bigamy conviction got a lot of the attention but Lai Xiaomin received a death sentence on Tuesday over a much more serious issue troubling China.
Lai oversaw China Huarong Asset Management Co. from 2012 until he ran into trouble in 2018. He was found guilty of receiving 1.79 billion yuan ($277.3 million) in bribes, with bigamy thrown in for good measure. Still, capital punishment for this kind of white-collar crime is unusual, legal experts say. Wu Xiaohui, former chairman of Anbang Insurance Group Co., whose clean-up is costing Beijing billions of dollars, was sentenced to 18 years in jail over a $10 billion fraud in 2018.
Alibaba plans to raise up to US$8 billion in bonds
LITMUS TEST? Lucror Analystics credit analyst Chuanyi Zhou said the issuance might reveal how global investors perceive the evolving regulatory environment in China
Bloomberg
Alibaba Group Holding Ltd (阿里巴巴) intends to raise as much as US$8 billion via a dollar bond sale as early as next week, matching its own Chinese record for a single issuance of offshore corporate debt, people familiar with the plans said.
The e-commerce giant aims to raise at least US$5 billion, but could wind up with more depending on reception, said the people, who asked not to be identified.
Provided by Dow Jones
By Yang Jie Amazon.com Inc. can t use its cloud-computing business s AWS logo in China, a Beijing court ruled, the latest headache for a company that has already been hampered by Chinese regulations and rivals. The Beijing Municipal High People s Court ruled that the trademark for the term AWS belonged to ActionSoft Science & Technology Development Co., a Chinese software and data services company, according to a court verdict published Dec. 30. The court ordered Amazon to stop using the term AWS or any similar logos in China and pay compensation of 76.5 million yuan, equivalent to $11.8 million, to ActionSoft. The verdict was dated May 2020 but was released at the end of last month. Chinese courts often publish rulings months after they are made.
China's Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma's empire.
HONG KONG: China's Alibaba Group Holding Ltd plans to raise at least $5 billion through the sale of a U.S. dollar-denominated bond this month, four people with knowledge of the matter said, amid regulatory scrutiny of co-founder Jack Ma's empire.