Latest news with #Feng
South China Morning Post
10 hours ago
- Business
- South China Morning Post
China convicts crypto money launderers who embezzled US$20 million from Beijing tech firm
Chinese official media reported details of a crackdown on a money-laundering operation involving cryptocurrencies , shedding light on the mainland's underground crypto landscape and increased efforts by authorities to seize crypto assets. According to a report last week by the People's Daily, which cited the Beijing Haidian People's Procuratorate's ruling, a former executive surnamed Feng embezzled 140 million yuan (US$19.5 million) from his employer, a tech firm. He then used eight overseas virtual currency trading platforms to convert the funds into bitcoin and other cryptocurrencies. Feng and his accomplices employed a so-called coin mixing strategy to obscure the origin of their money, converted portions of their cryptocurrencies back into yuan, and then transferred the funds into their mainland bank accounts. During the investigation, prosecutor Li Tao from the hi-tech crime division of the Haidian People's Procuratorate, reconstructed the entire process of how the funds were embezzled, transferred, laundered, and divided to build charges against Feng and his associates, according to the report. Feng was ordered to surrender 90 'hidden' bitcoin valued at over US$11 million based on current prices. He was convicted and sentenced to more than 14 years in prison. The case highlighted the rising use of cryptocurrencies for money laundering in China, where authorities maintain a stringent ban on crypto trading and prohibit its banking system from engaging with these virtual assets.
Straits Times
4 days ago
- Politics
- Straits Times
Chinese academic in Australia slams 'ridiculous' Hong Kong bounties
Find out what's new on ST website and app. The bounties issued by Hong Kong range from about US$25,000 (S$32,000) to US$125,000, depending on the individual. Sydney - An academic in Australia who was among 19 people that Hong Kong issued bounties for has criticised the 'ridiculous' arrest warrants and warned that the region was trying to exert its power beyond its borders. Authorities from the Chinese city announced cash rewards on July 25 for information leading to the arrest of 19 overseas activists involved in Hong Kong Parliament – a pro-democracy group established in Canada. The bounties range from about US$25,000 (S$32,000) to US$125,000, depending on the individual. Among those named was Prof Feng Chongyi, a China studies professor at the University of Technology Sydney. 'It's certainly ridiculous,' he told the Sydney Morning Herald in an interview published July 26. 'They've got the power, they've got the influence overseas, they want to control everything even overseas.' Prof Feng told the publication he joined the group as an academic. Top stories Swipe. Select. Stay informed. Singapore Almost half of planned 30,000 HDB flats in Tengah to be completed by end-2025: Chee Hong Tat Asia Death toll climbs as Thai-Cambodia clashes continue despite calls for ceasefire Multimedia Lights dimmed at South-east Asia's scam hub but 'pig butchering' continues Singapore Black belt in taekwondo, Grade 8 in piano: S'pore teen excels despite condition that limits movements Asia Where's Jho Low? Looking for 1MDB fugitive at a Shanghai luxury estate Asia Thousands rally in downtown Kuala Lumpur calling for the resignation of PM Anwar Life SG60 F&B icons: Honouring 14 heritage brands that have never lost their charm Business Can STI continue its defiant climb in second half of 2025? 'I feel very sad, I'm extremely upset that the autonomous Hong Kong has been destroyed,' he added. 'It's unbearable for me.' 'Hong Kong was such a beautiful, dynamic place – the best part of Chinese culture, the combination of the East and the West.' The former British colony – handed back to China in 1997 – has seen political dissent quashed since Beijing imposed a sweeping national security law in 2020 following huge and at times violent pro-democracy protests. Prof Feng, who has conducted research into China's pro-democracy groups, was detained for a week in China in 2017. At the time, his lawyer said he was 'suspected of harming national security and could not leave China'. The July 25 announcement of bounties was the fourth from Hong Kong authorities, which has previously drawn strong criticism from Western countries. The bounties are seen as largely symbolic given that they affect people living abroad in nations unlikely to extradite political activists to Hong Kong or China. Australian Foreign Minister Penny Wong said on July 26 she strongly objected to the arrest warrants. 'Freedom of expression and assembly are essential to our democracy,' she said on social media platform X. 'We have consistently expressed our strong objections to China and Hong Kong on the broad and extraterritorial application of Hong Kong's national security legislation, and we will continue to do so.' The UK also condemned the move as 'another example of transnational repression', according to a statement from British Foreign Secretary David Lammy and Home Secretary Yvette Cooper. The Hong Kong government hit back on July 26, calling Britain's reaction 'untrue and biased'. 'Those absconders hiding in the UK and other Western countries are wanted because they continue to blatantly engage in activities endangering national security,' it said, demanding that Britain 'stop interfering in Hong Kong matters which are purely China's internal affairs'. AFP
Sydney Morning Herald
4 days ago
- Politics
- Sydney Morning Herald
‘Ridiculous': Hong Kong places bounty on Australian professor
An Australian pro-democracy academic has labelled a warrant for his arrest by Hong Kong's national security police as 'ridiculous', as authorities there pursue 19 overseas-based members of what they describe as a subversive organisation. University of Technology Sydney China studies professor Dr Feng Chongyi – who in 2017 was detained for 10 days while on a research trip to China – now has a bounty on him over his involvement in an unofficial pro-democracy group, Hong Kong Parliament. He is accused of helping to organise or participate in the largely Canada-based group, which authorities in Hong Kong say aimed to subvert state power under a national security law that China imposed on the territory in 2020, following months of pro-democracy protests the year before. Feng and the others are accused of having launched a referendum or run as candidates in the unofficial 'Hong Kong Parliament' group, which authorities say aims at achieving self-determination and drafting a 'Hong Kong constitution'. Hong Kong police said the organisation sought to overthrow the governments of China and Hong Kong by unlawful means, that they were still investigating, and further arrests could follow. Loading Regarding its 'election' process, the Hong Kong Parliament group has said on social media that it drew about 15,700 valid votes through mobile app and online voting systems. It said the candidates and elected members came from around the world including Taiwan, Thailand, Australia, the US, Canada and the UK. Feng isn't from Hong Kong, but said he had agreed to join the group as an academic. 'It's certainly ridiculous, it does not offend me in any sense … they've got the power, they've got the influence overseas, they want to control everything even overseas,' Feng told this masthead on Saturday.
The Age
4 days ago
- Politics
- The Age
‘Ridiculous': Hong Kong places bounty on Australian professor
An Australian pro-democracy academic has labelled a warrant for his arrest by Hong Kong's national security police as 'ridiculous', as authorities there pursue 19 overseas-based members of what they describe as a subversive organisation. University of Technology Sydney China studies professor Dr Feng Chongyi – who in 2017 was detained for 10 days while on a research trip to China – now has a bounty on him over his involvement in an unofficial pro-democracy group, Hong Kong Parliament. He is accused of helping to organise or participate in the largely Canada-based group, which authorities in Hong Kong say aimed to subvert state power under a national security law that China imposed on the territory in 2020, following months of pro-democracy protests the year before. Feng and the others are accused of having launched a referendum or run as candidates in the unofficial 'Hong Kong Parliament' group, which authorities say aims at achieving self-determination and drafting a 'Hong Kong constitution'. Hong Kong police said the organisation sought to overthrow the governments of China and Hong Kong by unlawful means, that they were still investigating, and further arrests could follow. Loading Regarding its 'election' process, the Hong Kong Parliament group has said on social media that it drew about 15,700 valid votes through mobile app and online voting systems. It said the candidates and elected members came from around the world including Taiwan, Thailand, Australia, the US, Canada and the UK. Feng isn't from Hong Kong, but said he had agreed to join the group as an academic. 'It's certainly ridiculous, it does not offend me in any sense … they've got the power, they've got the influence overseas, they want to control everything even overseas,' Feng told this masthead on Saturday.
The Wire
17-07-2025
- Business
- The Wire
Ampace Reaffirms 'Safety as the Non-Negotiable Baseline and Absolute Red Line' at SIJORI Data Center Event
SINGAPORE, July 17, 2025 /PRNewswire/ -- At the recent SIJORI Data Center event hosted by W. Media, Dr. Zhu (Drew) Feng, representing global energy innovator Ampace Technology, delivered a keynote address on lithium-ion battery safety for next-generation data centers. Centering on Ampace's uncompromising philosophy—"Safety is the baseline, but more critically, the red line"—Dr. Feng detailed the company's multi-layered strategy to ensure zero safety incidents across its energy storage systems (ESS). Core Safety Philosophy: Beyond Compliance Ampace's approach transcends regulatory compliance. With over 2.45million ESS units shipped globally (65 million cells) and zero safety incidents over five years, the company leverages rigorous design, manufacturing, and validation processes to embed safety at every level: • Cell-Level: Use of thermally stable LiFePO₄ (LFP) chemistry, advanced separators with ceramic coatings, and strict process controls to prevent defects. • System-Level: multi-layer protection architecture spanning hardware, software, and cloud-based diagnostics, including real-time leakage detection, thermal runaway inhibition, and fire suppression. • Lifecycle Commitment: Targets 0 safety events throughout a product's entire lifespan, outperforming industry benchmarks. PU200: A Safety-Centric Solution for Data Centers Ampace's flagship UPS battery cabinet, the PU200, exemplifies this ethos: • 10C Ultra-High Power: Supports 462kW/cabinet for 5-minute backup, with 58% higher power density than predecessors. • Extreme Safety Tech: Semi-solid-state cells, UL9540A-compliant thermal isolation, dual-circuit redundancy, and multi-level fire protection. • Proactive Risk Mitigation: Cloud-based fault diagnosis, early fire detection (gas/smoke/temperature sensors), and explosion-proof design. Validation Through Global Standards All Ampace ESS solutions adhere to stringent international certifications, validated through: • Accelerated Stress Testing: Salt spray, earthquake simulation, humidity, and external fire resistance trials. • Field Proven Reliability: 0.1% annualized failure rate across over five years of deployments. A Message from Ampace "Safety isn't just a requirement—it's the foundation of trust in energy storage," stated Dr. Feng. "For data centers, where downtime is catastrophic, we engineer every component to ensure safety is never compromised. This is our red line." Ampace Technology Limited (hereinafter referred to as "Ampace") stands as a globally acclaimed innovator in new energy technologies, committed to delivering green energy solutions with ultimate user experience to forge the world ahead and empower a better life. The company is known with world class R&D and manufacturing of a complete chain Li ion battery products from "Cell-Battery Pack-System Integration", and has obtained of authoritative certifications. In the realm of energy storage, e-mobility, power tools, vacuum cleaners, drones, and more, Ampace has established extensive strategic partnerships with industry leaders. The company is renowned for providing new energy products and services characterized by ultimate safety, reliability, performance, and user experience, serving over 50 million customers in 30 countries and regions worldwide. To learn more, please visit the Ampace official website: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
