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A view of the Chinese National Flag. Photo: Artur Widak/NurPhoto via Getty Images

The Department of Justice announced indictments of 10 Chinese agents and conspirators for stealing intellectual property and business secrets in aerospace and other high tech industries.

Why it matters: The Chinese government has been believed to commit economic espionage for years — an allegation it denies. If what U.S. lawmakers, law enforcement officials, intelligence agents and private security firms believe is true, this is a multibillion dollar scheme illicitly converting U.S. firms' research and development into Chinese companies' profits.

The 10 indicted by the DOJ are headlined by two members of the Jiangsu Province Ministry of State Security, a regional arm of the Ministry of State Security.

  • They are accused of hacking 13 companies internationally, ranging from Massachusetts to Australia to France.

Go deeper

Biden to meet with U.S. financial regulators on Monday

Photo: Drew Angerer via Getty Images

President Biden will meet with financial regulators on Monday.

Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.

Updated 6 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.