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Those foreigners who hold shares in Chinese tech companies are being warned that all is not well.
Article by Bob Unruh from WND.
It is China expert Gordon Chang who explained at Gatestone Institute, where he is a distinguished senior fellow and a member of the advisory board, that the nation controlled by a repressive Communist regime is “on the road to expropriating the shares held by foreigners in China’s tech companies.”
China has been getting more and more belligerent in recent months on the world stage, since Joe Biden moved into the White House in the United States, and a video that appeared to be from Chinese interests recently threatened a “continuous” nuclear war against anyone who might oppose its looming attempts to take over Taiwan.
Chang explains that the new threat to financial investments in Chinese companies is developing because Chinese officials have declared illegal a specific “variable interest entity,” a process through which Chinese companies have been listing themselves on foreign exchanges – and collecting massive investment money.
Which all gives Xi Jinping, the Chinese ruler, “an excuse now to begin a confiscation campaign.”
He explained the assault has been foreshadowed in a company called DiDi Global.
“The company’s shares started trading on June 30 on the Big Board, where it raised $4.4 billion in an initial public offering. Two days later, China’s Cyberspace Administration halted downloads of DiDi Global’s popular ride-hailing app, DiDi Chuxing,” he explained. “Then, Chinese regulators started investigation after investigation, coming down hard on the business. For instance, on July 16 the Cyberspace Administration and six other Chinese government agencies—the Ministry of Public Security, the Ministry of State Security, the Ministry of Natural Resources, the Ministry of Transport, the State Taxation Administration, and the State Administration of Market Regulation—began ‘an on-site cybersecurity inspection’ of DiDi Chuxing.”
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The bull’s-eye was thrown on DiDi, Change explained, because the company has a VIE structure, which evades Chinese law that prohibits foreign ownership of Chinese tech companies.
“The prohibition on foreign ownership is why investors, in one of the most anticipated IPOs in history, did not buy stock of the company operating the Alibaba businesses in China. Instead, in 2014 they purchased shares of Alibaba Group Holding Limited, incorporated in the Cayman Islands. Alibaba Group Holding Limited tops a complicated VIE structure,” he explained.
The move, however, later was ruled illegal by China’s Supreme People’s Court.
And it’s already happened.
“Chinachem, a Hong Kong business, made an investment, indirectly, into China Minsheng Banking Corp. After the value of the Minsheng shares skyrocketed—Chinachem’s ownership interest increased by almost 64 times—the Chinese parties cut out Chinachem, confiscating its interests in the bank,” Chang wrote.
VIE setups have been declared illegal in other scenarios, he explained.
“There is … the case of China Unicom. In the middle of the 1990s, the Chinese central government permitted foreign companies to buy stock in that telecom business through the China-China-Foreign structure, which, like VIEs, evaded unambiguous Chinese rules against offshore investment. Beijing later forced the unwinding of that arrangement, disadvantaging Unicom’s foreign investors.”
But the offerings have continued, and Winston Ma of New York University noted that nearly every U.S.-listed Chinese company that foreign investors like pension funds and endowments can buy is listed through a VIE structure.
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However, Chang warned the mood in Beijing is changing.
He notes the opinion that “the current leadership has increasingly frowned upon the model because of deepening fears of sensitive information falling into foreign hands.”
Those companies with VIE interests now are under investigation, he reported.
“The Communist Party has been stirring up anti-outsider anger, already bubbling up in Chinese society. Officials, therefore, are taking a fresh look at VIE arrangements, especially because Beijing wants to keep profits generated in the China market at home,” he wrote. “People believe that if Beijing were to publicly declare a VIE illegal—in other words, expropriate foreign ownership—it would be like setting off a nuclear weapon…”
“Xi Jinping believes there is already too much foreign influence in Chinese society, so he will limit to the greatest extent possible offshore ownership of China’s enterprises. As a part of this effort, he will, I think, step up a long-running campaign to harass foreign businesses and begin to force offshore investors out of his country. The questionable VIE structure gives Xi the perfect excuse to now expropriate foreign ownership of successful Chinese tech companies,” Chang explained.
American Patriots Uniting to Fight Tyranny from, Well, Everywhere
We’re building a new conservative news network. Based on responses from fellow patriots, we’re heading in the right direction.
It may be hard to believe based on what we’re seeing around the nation today, but there are many reasons to be hopeful. First and foremost, the false narrative that most of America hates traditional values or the foundations of our nation are finally being proven false. Despite the best efforts of globalists and Neo-Marxists, patriotic Americans are starting to unify in droves. Meanwhile, Joe Biden can barely muster a half-filled auditorium to deliver his message to the scant few watching CNN and the paid shills in the “crowd.”
The “silent majority” that drove Donald Trump to victory in 2016 and 2020 (yes, he won by a landslide but was robbed along with the American people) is finally starting to realize we cannot stay silent any longer. We used to win with our votes, but those are being stolen. We used to win with truth, but the radical left and their agents in mainstream media, Big Tech, and academia are building a post-truth society to drown out reality. Today, we are waking up to the realization that only through direct action and fearlessly spreading the truth can we overcome the nefarious forces working against us.
We are proud to be working our way up to the tip of the conservative media spear. Our network is growing. We’re establishing strong partnerships with like-minded news outlets and courageous journalists. Even as Big Tech suppresses us, the honest messages they’re trying to quash are finding their way to the eyes and ears of patriots across the nation. With the help of new content partners like The Epoch Times and The Liberty Daily, we’re starting to see a real impact.
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Our network is currently comprised of nine sites:
- NOQ Report
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- Freedom First Network
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- American Conservative Movement
- Conservative Playbook
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Some of our content is spread across all of these sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
The slow and steady reopening of America is revealing there was a lot more economic hardship brought about from the Covd-19 lockdowns than most realize. While we continue to hope advertising dollars on the sites go up, it’s simply not enough to do things the right way. We are currently experiencing a gap between revenue and expenses that cannot be overcome by click-ads and MyPillow promos alone (promo code “NOQ” by the way).
To overcome our revenue gap and keep these sites running, our needs fluctuate between $2200-$7800 per month. May, 2021, for example, was amazing and we almost broke even. June, revenue was sluggish at best and we had to make up a big difference out of our pockets. But we’re not just trying to get out of the red. If and when we start getting enough contributions to expand, we will do just that. Very few get into journalism to try to get rich and we’re definitely not among those who do. Our success is driven by spreading the truth, profitable or not.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Time is short. As the world spirals towards radical progressivism, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We just launched a new GiveSendGo page. We also have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker
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