Chinese Suspect Arrested in Deadly Philippines Kidnapping
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A rundown of the news making headlines in and around China:
Chinese-on-Chinese crime: A main suspect in the kidnapping that led to the deaths of two Chinese businessmen in the Philippines has been arrested in the U.S. Philippine police have informed the victims’ families that the suspect is an ethnic Chinese man from Cyprus. The deaths of the two medical device company executives drew attention to how Chinese are often targeted by others of their ethnicity in the archipelago nation and other parts of Southeast Asia. A Taipei-born woman is suspected of luring the executives to the Philippines by posing as the representative of a local company called Medev. The woman, Chen Yuxuan, was arrested in South Korea in September.
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- A suspect in the kidnapping and murder of two Chinese businessmen in the Philippines has been arrested in the U.S., with connections spanning Cyprus and South Korea.
- Ten people face penalties after journalists investigating railway issues in China's Anhui province were attacked; this included the removal of five project managers and officials.
- China has reduced export tax rebates on 209 products, including solar and lithium batteries, from 13% to 9%; efforts to enhance energy security include completing the Eastern Russia-China Natural Gas Pipeline.
- China Railway Seventh Group Co. Ltd.
- China Railway Seventh Group Co. Ltd. is a state-owned company involved in railway construction in East China’s Anhui province. Ten people were punished after two state media journalists, investigating the company's project issues, were assaulted. Five project managers and Communist Party officials were removed from their posts, highlighting concerns about violence against reporters and accountability within the company.
- Medev
- Medev is a local company in the Philippines linked to a kidnapping case involving two Chinese businessmen. A Taipei-born woman, Chen Yuxuan, posed as a representative of Medev to lure the executives to the Philippines, where they were subsequently kidnapped and killed. Chen Yuxuan was arrested in South Korea in September.
- Hong Kong Stock Exchange
- The Hong Kong Stock Exchange plans to open an office in Riyadh as part of efforts to strengthen financial connections with the Middle East. This move comes amid China's broader initiative to raise funds and engage with deep-pocketed investors in the region, coinciding with the issuance of dollar-denominated sovereign bonds by the Chinese government in Saudi Arabia, signifying increased financial engagement with the Middle East.
- 2024：
- Completion of the final phase of the Eastern Russia-China Natural Gas Pipeline, capable of supplying 38 billion cubic meters of natural gas a year.
- September 2024：
- Chen Yuxuan, suspected of luring executives to the Philippines, was arrested in South Korea.
- November 11-17, 2024：
- China issued dollar-denominated sovereign bonds in Riyadh, Saudi Arabia for the first time.
- Saturday, November 16, 2024：
- President Xi Jinping met U.S. President Joe Biden in Peru during the APEC leaders' summit.
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