Latest news with #Qing
Yahoo
6 days ago
- Business
- Yahoo
Here's what's behind China's IPO crackdown
Shein appears to be abandoning its hopes for a flotation in London. The fast-fashion retailer is reportedly preparing to list on the Hong Kong stock exchange as its application to launch an initial public offering on the London Stock Exchange stalls with Chinese regulators, Reuters reported Wednesday. While Shein is headquartered in Singapore, it was founded in China, where the majority of its suppliers remain. Sources told Reuters that the company aims to file a draft prospectus with Hong Kong's stock exchange in the coming weeks. The delay reflects a broader shift in how Chinese regulators are vetting listings. A total of 428 IPO applications were withdrawn in China in 2024, according to Yicai Global, marking a 75% increase compared to the previous year. Chinese companies raised approximately $25.2 billion through IPOs last year, according to data across various markets. That marks a 43% decline from the year before. Notable Rejections included bubble tea companies Mixue Bingcheng, Guming Holdings and Auntea Jenny, all of which had hoped to list in Hong Kong. The trend began when Wu Qing was appointed chief of the China Securities Regulatory Commission (CSRC) in February of last year. In his previous regulatory roles, Qing was dubbed the 'broker butcher,' for leading a crackdown on securities firms. He kicked off his tenure by launching a campaign to boost the quality of listed companies and revive China's struggling stock market. 'Every step of the IPO vetting and registration process should be put under the microscope,' he said, and vowed to 'keep fraudsters away from capital markets.' A series of high-profile scandals and underperforming IPOs over the past decade have knocked investor confidence and highlighted regulatory oversight. In 2021, China had a record-breaking number of IPOs. However, of the 39 that launched in the U.S., just 32 are still trading, according to data from the U.S.-China Economic and Security Review Commission. Today, shares in each of those companies trade for less than their launch value, with most down at least 90%, according to Quartz's analysis. Perhaps the most notable: Didi. The ride-hailing app listed in the U.S. despite concerns among China's regulators. Shortly after the launch, an investigation found the company broke cybersecurity and data privacy laws. Chinese authorities fined the firm $1.2 billion, and it was delisted from the New York Stock Exchange (ICE). New measures under Qing include higher profitability thresholds for listing on main boards and the Growth Enterprise Market. Quotas for onsite inspections have risen from 5% to 20% of applicants. Plus, there's been a tightening of rules relating to revenue sources and business sustainability. As part of the enhanced scrutiny, officials have reportedly shown up at an IPO applicant's office, sources told Asia Financial. Personal bank data was scanned and business transactions probed, sources said. For the latest news, Facebook, Twitter and Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AsiaOne
23-05-2025
- General
- AsiaOne
Hundreds of roof tiles collapse from China's historic drum tower, a year after extensive repairs, China News
Hundreds of roof tiles came crashing down from a historic drum tower in China's Anhui province on Monday (May 19), a year after extensive repairs. In videos circulating online, hundreds of roof tiles were seen coming loose and cascading more than two stories within seconds. Many visitors were seen fleeing as the falling tiles raised a huge cloud of dust. County officials confirmed that the roof tiles from one side of the Fengyang Drum Tower had collapsed and added that no one was injured. Investigations are ongoing. An eyewitness told Yangcheng Evening News that the incident lasted for one to two minutes. Residents told China Newsweek that the area in front of the tower is often crowded, as people come to sing and dance in the evenings. Fortunately there weren't many people around when the incident occurred, the residents said. As at Thursday (May 22), tiles and broken rafters were still dangling from the roof and a crane was seen transporting bricks onto the top of the tower, Southern Metropolis Daily reported. Scaffolding was also erected around the drum tower, while its entrance was blocked by a barricade, the newspaper said. It added that staff on the ground could not confirm when repairs would be completed. Over $61,000 spent on repairs in 2024 Fengyang Drum Tower was built in 1375, but much of it was destroyed during the Qing dynasty in 1853. Only its platform base remained, which was classified as a protected cultural unit for Anhui province in 1989. Restoration of the entire drum tower began in 1995, and was completed in 1998. Since 2017, a few roof tiles fell after they became loose. Due to further degradation and safety hazards, the tiles were replaced between September 2023 and March 2024. Lu Deyong, chief of Fengyang's culture and tourism bureau, confirmed that over 341,000 yuan (S$61,063) was allocated for the repairs, Sina News reported. Lu added that the repairs passed immediate safety checks after its completion. On May 21, CCTV reported that part of the drum tower was illegally rebuilt with a reinforced concrete structure in 1995 without approval. [[nid:718203]]
Observer
20-05-2025
- Politics
- Observer
From humiliation to a Century of Justice
Between 1842 and 1945, eight foreign powers conspired to strip China of its sovereignty, wealth and dignity in what the Chinese people call as the 'Century of Humiliation". Great Britain's Opium Wars forced millions into addiction and ceded Hong Kong; France imposed unequal treaties and seized territories in Guangxi and Guangdong; Japan's incursions into Taiwan, Manchuria, and coastal provinces inflicted decades of occupation; Russia pressed deep into Manchuria and the Amur region; Germany established a naval base at Qingdao after leasing Jiaozhou Bay; Austria-Hungary coerced minor concessions following the Siege of Beijing in 1900; Italy extracted extraterritorial rights and treaty ports; and the United States enforced the Open Door policy to guarantee its merchants unfettered access and immunity from local law. These powers treated China as a quarry for opium, territory and raw materials, bringing an end to the Qing dynasty's power and prestige for good, plunging Chinese families into poverty, igniting uprisings and freezing China's development. Today, that same arrogance and appetite for control resurfaces across the globe, especially against the so called Global South. In just the past weeks, the 47th President of the United States visited Saudi Arabia, Qatar and the United Arab Emirates to sign almost RO 1.5 trillion in technology, energy and defence agreements. Yet while headlines glorified the size of these deals, parents in the Occupied Palestinian Territories are picking body parts of the dead children from the rubble, the hospitals of Gaza lie in ruins, humanitarian supplies are blocked, and Palestinians endure what countless observers describe as a campaign of collective punishment, starvation, bombardment and forced displacement. The contrast is stark: transactional diplomacy on one hand, and systemic violence on the other. These are not isolated tragedies but echoes of histories we refuse to learn from. To break this cycle of impunity, we must adopt a 'Century of Justice' Roadmap: A concise, hard-edged framework to replace the old world's greed-driven systems with one that centres actual human dignity and sustainable cooperation. The first element is the Shared Ethical Code, a binding compact that defines non-negotiable standards for state and non-state actors alike. Under this code, no government may employ killer Artificial Intelligence - AI technology, collective punishment, use starvation as a weapon, or seize territory by force. An independent council of jurists and civil-society representatives would monitor compliance in real time. Violators would incur targeted sanctions, asset freezes and travel bans. This is not idealism; it is deterrence through accountability. Second, we prepare Leaders of Conviction. From my own experience, elections become popularity contests driven by fear and factionalism instead of just common, interests. Under this pledge, every candidate, local, regional, or national commits to transparency in decision-making, to resolving disputes through dialogue rather than proxy wars, and to refusing to outsource violence to militias or private armies. Should any signatory authorise bombing of civilian infrastructure or the demolition of homes, that leader's regime automatically triggers diplomatic isolation and suspension from multilateral forums. Citizens and parliaments, empowered by this pledge, can hold their leaders to account even in emergencies. Third, the roadmap establishes Justice Alliances - practical coalitions pairing governments with civil-society groups, faith communities and the private sector to confront war's aftermath. In Palestine, for instance, these alliances would comply with the UN resolutions and International Court of Justice - ICJ decisions to coordinate humanitarian corridors in Gaza and other Occupied Territories, document and prosecute war crimes and design long-term reconstruction plans. Funding would come from reparations levied on aggressor states and corporations that profit from conflict, creating a direct link between wrongdoing and responsibility for rebuilding. By working in coordinated task forces rather than scattered NGOs, resources are pooled, expertise shared and survivors supported with dignity. Fourth, we must ratify Sustainability Pacts that bind producers and consumers in equitable resource stewardship. These legally enforceable agreements cover water, minerals, forests and carbon emissions, tying access and extraction rights to third-party audits and community-driven management. When a nation or corporation overreaches - clear-cutting forests, diverting rivers, or looting minerals, their concessions are voided and they incur reparations owed to affected populations. Such pacts transform mercenary resource grabs into partnerships that safeguard ecosystems and livelihoods. This Century of Justice Roadmap is no utopian manifesto. As the Chinese people ended the Century of Humiliation to become a global superpower, so can the Global South, including the Arab and Muslim world. This is a call to action rooted in the hard lessons of history. Insist that your institution endorse the Shared Ethical Code. Demand that every public office candidate signs the Leaders of Conviction pledge. Join or support a Justice Alliance focused on the world's worst humanitarian crises. Pressure corporations and states to ratify Sustainability Pacts. We stand at crossroads: We can repeat the old script of power, profit and impunity, or we can forge a new century defined by justice, not greed. The choice is ours, and the time to act is now even if this takes a hundred years.
Yahoo
14-05-2025
- Science
- Yahoo
Ancient poetry unveils hidden history of critically endangered finless porpoises, scientists say
Sign up for CNN's Wonder Theory science newsletter. Explore the universe with news on fascinating discoveries, scientific advancements and more. A research team in China got creative in its efforts to save a critically endangered species by turning to ancient poems. The scientists pored over more than 700 ancient Chinese poems from the Tang through the Qing dynasties that mention the Yangtze finless porpoise to find out where and when poets described seeing the animal because little is known about its population history. The Yangtze finless porpoise — the world's only freshwater porpoise — has faced extreme declines in numbers in the past four decades. With fewer than 1,300 individuals left in the wild, scientists in eastern China have made huge efforts to better understand the animal's past habitat range to better inform future conservation initiatives. The findings were stark: The data suggests that the historic range of the finless porpoise has shrunk by 65% over the past 1,200 years, with the most extreme reduction happening over the past century. The team published the findings in the journal Current Biology on May 5. 'Some older fishers told me they used to frequently see porpoises in areas where they've now disappeared completely,' study coauthor Zhigang Mei told CNN in an email. 'That really sparked my curiosity: Where did these porpoises historically live?' Yangtze finless porpoises only live in the middle-lower Yangtze River basin in eastern China. From the early 1980s until the 2010s, the population steeply declined an estimated 60%, according to a 2014 study, due to a combination of illegal fishing practices, industrial pollution in waterways, dams and sand mining in the adjoining lakes. Because hard scientific data for the porpoise only exists for recent decades, scientists have a very narrow understanding of its spatial distribution. This creates a problem known as shifting baseline syndrome, explained Mei, a professor at the Institute of Hydrobiology, Chinese Academy of Sciences, in Wuhan. '(This research) answers important questions about what constitutes a healthy population,' he said, which will help with setting realistic management goals. 'Without historical baselines, there is a risk of shifting expectations downward over generations, accepting an ever-declining status as 'normal.'' When Mei and his colleagues started poking around archives for answers, they were surprised. Official records such as local gazettes and county chronicles didn't have any information about the porpoises — only terrestrial megafauna like tigers and elephants, species that have frequent conflict with humans. Porpoises, in contrast, are less likely to have close encounters with humans. (No drama, no record.) Instead, sightings were typically by local, less-educated anglers or wealthy travelers — who caught glimpses of the elusive porpoises while traveling the Yangtze River by boat — and weren't formally recorded, Mei said. Facing this dead end, the scientists realized ancient poems could come in handy. 'We were amazed,' Mei said of the researchers efforts to explore written documentation via literature. The authors sorted through hundreds of poems dating back to AD 830 that referenced porpoises. For each poem, the scientists looked for evidence of locations, such as descriptions of unique geographical features of the Yangtze River basin. Then, the team researched the poem's time period and each poets' personal history to ensure their accuracy. About half of the poems contained precise location information, allowing the team to map sightings for each dynasty. Ancient Chinese poetry is often nonfiction, including first-person accounts of everyday life and observations of nature, the authors explained. That's why the poems served as a reasonable metric for finless porpoise sightings throughout the river basin. 'Emerald seals the jade-green tiles as idle dawn clouds drift / Specks of porpoises vanish between the waves' swift lift,' reads one Qing Dynasty poem by Gu Silì 顾嗣立 called 'Crossing the River in Rain, Looking at Jinshan,' as translated by lead study author Yaoyao Zhang, an ecologist at the Institute of Hydrobiology, Chinese Academy of Sciences. 'It's beautiful, actually,' said Paulo Corti, a conservation ecologist at Austral University of Chile who was not involved in the research. 'They did something great with some very simple information.' Using historic materials for science isn't uncommon — especially in paleontology or archaeology — but it's less often used for wildlife research, Corti said. 'It's a very useful tool, especially when you refine the analysis, taking those qualitative data into quantitative (data),' he said. The poetry data only offers an estimate. However, it's the study authors' best source for formulating how the Yangtze finless porpoise population's distribution changed before modern times. Such studies need to be conducted carefully, adds Corti, who has written journal articles about responsibly using historical records for wildlife studies after noticing that some scientists were using such data inappropriately. One major limitation of cultural records is human error, he explained. A fisherman or hunter, for example, is a more reliable observer than a foreign explorer likely to misidentify similar-looking animals. That's why the study authors researched each poet's background, such as where they lived and traveled, to verify their observations. The Yangtze finless porpoise looks distinct, with a short snout, dark gray color and signature lack of a dorsal fin, which sets it apart from its dolphin relatives. As mammals, porpoises need to surface for air, making them visible to humans, said study coauthor Jiajia Liu, a professor of biodiversity science at Fudan University in Shanghai. And because finless porpoises did not historically hold cultural importance, it was less likely for poets to write about them without a literal observation, he added. For these reasons, the researchers trusted the poems for data. That said, the authors acknowledge that some historical references of the river porpoise could be confused with the now-extinct baiji, a freshwater dolphin that lived in the Yangtze. But this species was much bigger, lighter-colored, and touted a long snout — its most distinguishing feature, Mei said. Indeed, the baiji serves as a cautionary tale for the finless porpoise. The freshwater dolphin already became functionally extinct in 2006 from many of the same threats. Extinction of the finless porpoise would throw the ecosystem out of balance, Liu explained. As a top predator, the porpoise eats fish that feed on aquatic grasses. The rare mammal is also an ecosystem engineer by facilitating a process called nutrient cycling. By migrating long distances, the finless porpoise carries nitrogen and phosphorus from the river bottom to its surface, and from downstream to upstream. Now that there is some evidence that the finless porpoise lived not only in the main river, but also in tributaries and lakes, scientists have a better idea of where the porpoise historically thrived — and whether it might thrive in those locations once again. With captive breeding — a process in which endangered species are bred in captivity and released back into the wild — underway since 1996, the authors hope their new findings may help inform future conservation efforts, such as identifying areas where they can be released. But it's important not to jump to conclusions, Corti warned. Using such information for modern-day wildlife management requires a thorough understanding of species behavior, morphology, diet and other factors, he said. 'You can make a lot of mistakes' extrapolating historic observational data to inform future management decisions, he added. 'If you are trying to see what happened with the species in the past, you need to know what is going on now,' Corti said. Importantly, Mei noted, this study creates a link between endangered species and culture, which could attract public attention. If the Yangtze finless porpoise can be a flagship species, such as the panda, it will help improve their conservation, he said. Over the past few years, the porpoise population increased for the first time, thanks in part to conservation policies such as fishing bans. 'Conservation is not only (for) scientists,' Mei said. 'It's about everyone, it's about our culture.'
CNN
14-05-2025
- Science
- CNN
Ancient poetry unveils history of critically endangered finless porpoises, scientists say
A research team in China got creative in its efforts to save a critically endangered species by turning to ancient poems. The scientists pored over more than 700 ancient Chinese poems from the Tang through the Qing dynasties that mention the Yangtze finless porpoise to find out where and when poets described seeing the animal because little is known about its population history. The Yangtze finless porpoise — the world's only freshwater porpoise — has faced extreme declines in numbers in the past four decades. With fewer than 1,300 individuals left in the wild, scientists in eastern China have made huge efforts to better understand the animal's past habitat range to better inform future conservation initiatives. The findings were stark: The data suggests that the historic range of the finless porpoise has shrunk by 65% over the past 1,200 years, with the most extreme reduction happening over the past century. The team published the findings in the journal Current Biology on May 5. 'Some older fishers told me they used to frequently see porpoises in areas where they've now disappeared completely,' study coauthor Zhigang Mei told CNN in an email. 'That really sparked my curiosity: Where did these porpoises historically live?' Yangtze finless porpoises only live in the middle-lower Yangtze River basin in eastern China. From the early 1980s until the 2010s, the population steeply declined an estimated 60%, according to a 2014 study, due to a combination of illegal fishing practices, industrial pollution in waterways, dams and sand mining in the adjoining lakes. Because hard scientific data for the porpoise only exists for recent decades, scientists have a very narrow understanding of its spatial distribution. This creates a problem known as shifting baseline syndrome, explained Mei, a professor at the Institute of Hydrobiology, Chinese Academy of Sciences, in Wuhan. '(This research) answers important questions about what constitutes a healthy population,' he said, which will help with setting realistic management goals. 'Without historical baselines, there is a risk of shifting expectations downward over generations, accepting an ever-declining status as 'normal.'' When Mei and his colleagues started poking around archives for answers, they were surprised. Official records such as local gazettes and county chronicles didn't have any information about the porpoises — only terrestrial megafauna like tigers and elephants, species that have frequent conflict with humans. Porpoises, in contrast, are less likely to have close encounters with humans. (No drama, no record.) Instead, sightings were typically by local, less-educated anglers or wealthy travelers — who caught glimpses of the elusive porpoises while traveling the Yangtze River by boat — and weren't formally recorded, Mei said. Facing this dead end, the scientists realized ancient poems could come in handy. 'We were amazed,' Mei said of the researchers efforts to explore written documentation via literature. The authors sorted through hundreds of poems dating back to AD 830 that referenced porpoises. For each poem, the scientists looked for evidence of locations, such as descriptions of unique geographical features of the Yangtze River basin. Then, the team researched the poem's time period and each poets' personal history to ensure their accuracy. About half of the poems contained precise location information, allowing the team to map sightings for each dynasty. Ancient Chinese poetry is often nonfiction, including first-person accounts of everyday life and observations of nature, the authors explained. That's why the poems served as a reasonable metric for finless porpoise sightings throughout the river basin. 'Emerald seals the jade-green tiles as idle dawn clouds drift / Specks of porpoises vanish between the waves' swift lift,' reads one Qing Dynasty poem by Gu Silì 顾嗣立 called 'Crossing the River in Rain, Looking at Jinshan,' as translated by lead study author Yaoyao Zhang, an ecologist at the Institute of Hydrobiology, Chinese Academy of Sciences. 'It's beautiful, actually,' said Paulo Corti, a conservation ecologist at Austral University of Chile who was not involved in the research. 'They did something great with some very simple information.' Using historic materials for science isn't uncommon — especially in paleontology or archaeology — but it's less often used for wildlife research, Corti said. 'It's a very useful tool, especially when you refine the analysis, taking those qualitative data into quantitative (data),' he said. The poetry data only offers an estimate. However, it's the study authors' best source for formulating how the Yangtze finless porpoise population's distribution changed before modern times. Such studies need to be conducted carefully, adds Corti, who has written journal articles about responsibly using historical records for wildlife studies after noticing that some scientists were using such data inappropriately. One major limitation of cultural records is human error, he explained. A fisherman or hunter, for example, is a more reliable observer than a foreign explorer likely to misidentify similar-looking animals. That's why the study authors researched each poet's background, such as where they lived and traveled, to verify their observations. The Yangtze finless porpoise looks distinct, with a short snout, dark gray color and signature lack of a dorsal fin, which sets it apart from its dolphin relatives. As mammals, porpoises need to surface for air, making them visible to humans, said study coauthor Jiajia Liu, a professor of biodiversity science at Fudan University in Shanghai. And because finless porpoises did not historically hold cultural importance, it was less likely for poets to write about them without a literal observation, he added. For these reasons, the researchers trusted the poems for data. That said, the authors acknowledge that some historical references of the river porpoise could be confused with the now-extinct baiji, a freshwater dolphin that lived in the Yangtze. But this species was much bigger, lighter-colored, and touted a long snout — its most distinguishing feature, Mei said. Indeed, the baiji serves as a cautionary tale for the finless porpoise. The freshwater dolphin already became functionally extinct in 2006 from many of the same threats. Extinction of the finless porpoise would throw the ecosystem out of balance, Liu explained. As a top predator, the porpoise eats fish that feed on aquatic grasses. The rare mammal is also an ecosystem engineer by facilitating a process called nutrient cycling. By migrating long distances, the finless porpoise carries nitrogen and phosphorus from the river bottom to its surface, and from downstream to upstream. Now that there is some evidence that the finless porpoise lived not only in the main river, but also in tributaries and lakes, scientists have a better idea of where the porpoise historically thrived — and whether it might thrive in those locations once again. With captive breeding — a process in which endangered species are bred in captivity and released back into the wild — underway since 1996, the authors hope their new findings may help inform future conservation efforts, such as identifying areas where they can be released. But it's important not to jump to conclusions, Corti warned. Using such information for modern-day wildlife management requires a thorough understanding of species behavior, morphology, diet and other factors, he said. 'You can make a lot of mistakes' extrapolating historic observational data to inform future management decisions, he added. 'If you are trying to see what happened with the species in the past, you need to know what is going on now,' Corti said. Importantly, Mei noted, this study creates a link between endangered species and culture, which could attract public attention. If the Yangtze finless porpoise can be a flagship species, such as the panda, it will help improve their conservation, he said. Over the past few years, the porpoise population increased for the first time, thanks in part to conservation policies such as fishing bans. 'Conservation is not only (for) scientists,' Mei said. 'It's about everyone, it's about our culture.'
