The State Department and five other federal agencies issued an updated advisory on Tuesday warning that businesses with supply chains and investments in the Chinese region of Xinjiang run a "high risk" of violating U.S. laws on forced labor.
Why it matters: The Biden administration is moving aggressively to ensure that American businesses, many of which use supply chains deeply intertwined with the Chinese economy, are not complicit in the genocide of Uyghurs and other Muslim minorities.
Chinese antitrust regulators blocked the proposed $5.3 billion merger of Huya (NYSE: NUYA) and DouYu (Nasdaq: DOYU), two game streaming companies backed by Tencent.
Why it matters: This reflects how China's crackdown on local tech giants is expanding well beyond data privacy and offshore listings. It's also a big win for Amazon's Twitch, which could have faced a viable challenge from the combined Huya/DouYu.
The Biden administration on Sunday reaffirmed a Trump-era policy rejecting the Chinese government's territorial claims in the South China Sea.
Why it matters: Secretary of State Antony Blinken's firm statement comes ahead of this week's fifth anniversary of an international tribunal's ruling backing the Philippines' government against the Chinese Communist Party's maritime claims in the region.
China's President Xi Jinping and North Korean leader Kim Jong-un spoke of "hostile forces" as they vowed to strengthen ties on Sunday ahead of the 60th anniversary of the countries' treaty of friendship, per KCNA.
Why it matters: The report by the state-run North Korean news agency is meant as a message to the U.S. amid stalled nuclear talks and escalating tensions between Washington and Pyongyang, as well as Washington and Beijing, analysts said, according to AFP.
The Commerce Department added 34 foreign entities to an export blacklist on Friday for "acting contrary to the foreign policy interests of the United States," including 23 companies allegedly tied to the Chinese military or implicated in the genocide against Muslim minorities in Xinjiang.
Why it matters: It's the Biden administration's latest effort to hold China accountable for its human rights abuses and restrict U.S. firms from doing business in Xinjiang, where Beijing is engaged in a campaign of mass surveillance, detention and forced labor against Uyghurs and other minorities.
Giant pandas are no longer endangered after decades of conservation efforts, Chinese officials announced this week.
Why it matters: China's efforts over the last half-century to expand giant pandas' habitats helped drive their population in the wild up to 1,800, according to CNN.
A judge on Thursday determined that 47 Hong Kong pro-democracy activists will face trial in late September, after prosecutors were granted more time to build a case against them, per Reuters.
China's leadership is deeply suspicious of the international financial system, and wants to ensure that the Chinese Communist Party remains the absolute power in the land, unthreatened by fast-growing corporate giants.
What's new: That lesson was learned the hard way this week by Didi, but the repercussions are likely to be much larger. Already, Chinese fitness app Keep has decided to scrap its planned $500 million IPO in New York.
U.S. tech companies for years have grumbled about how the Chinese government favored its homegrown heroes, largely shielding them from global competition. Now, though, China is turning on its own Big Tech companies, reminding them who's boss.
Why it matters: This complicates U.S. IPO plans for dozens of Chinese companies, and potentially revalues even more Chinese unicorns.
The Cyberspace Administration of China on Sunday banned ride-hail giant DiDi from app stores, Bloomberg reports.
Why it matters: DiDi, known as the Uber of China, went public this past Thursday on the New York Stock Exchange at a $73 billion valuation.