World

In April, six months into an internship at an investment firm in Beijing, 24-year-old Wang Xuan (pseudonym) was told by Human Resources (HR) that he would not be offered a full-time position. Wang was unexpectedly calm when he got the news, remarking: “I anticipated this.” Signs of trouble emerged last year. He had come across reports of job cuts within the sector and got wind of discussions in the pantry regarding unpaid bonuses from the previous year. Senior colleagues openly expressed a desire to “lie flat” and resign themselves to the possibility of being laid off. Wang sighed, “Longtime employees might receive a retrenchment package of up to a million RMB. With that sum, they can afford to take a gap year and recharge. But for fresh graduates like us, it’s all about facing the ...

Former manager Bai Tianhui is the second China Huarong official to receive the ultimate penalty, after his former boss was executed in 2021No mention was made of Bai’s intention to appeal the court’s ruling, which is unusually severe in Chinese corruption cases A court in eastern China delivered a rare death sentence on Tuesday, after finding that a former senior banker accepted bribes worth more than 1.1 billion yuan (US$151 million) in his role with one of the country’s top four state asset managers. Bai Tianhui, former general manager of China Huarong International Holdings (CHIH), took advantage of his position to aid others in the acquisitions and financing of projects in exchange for the huge sums, the court found. A report on the Secondary Intermediate People’s Court of Ti...

Georgian Finance Minister Lasha Khutsishvili on Wednesday discussed economic and trade cooperation with China with a visiting delegation of the country’s Export and Import Bank state policy bank. The meeting comes as part of intensified ties between the two governments, who signed a strategic partnership agreement in July last year. The Georgian Ministry said the meeting with the delegation also featured Ekaterine Guntsadze, the country’s Deputy Finance Minister.

The three-day meeting of the finance ministers and central bankers of the G7 group of imperialist powers held in Stresa, Italy, concluded on Saturday. Significantly, it stepped up its aggressive stance against Russia and China, as well as giving carte blanche to the Israeli genocide in Gaza. A major item on the agenda was how the $300 billion worth of foreign assets of the Russian central bank, frozen by the US and European powers at the start of the Ukraine war, could be used to finance the Zelensky regime as it prepares to throw thousands more men into the meat-grinder, on top of the hundreds of thousands already killed or wounded. As well, revealing the interconnected character of the imperialist war fronts, the meeting adopted a more strident attitude to China and its so-called ...