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Henry Gao Profile picture
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10 Oct, 4 tweets, 2 min read
Over the past few days, there have been countless comments claiming that this is no big deal as the restrictions have always been there.

I don't think this is the case. Let me explain in this thread by comparing the 2021 list with the 2020 list:
1. The 2021 list is a very broad ban on everything relating to the news media sector, while the 2020 list does allow non-public capital participation, subject to equity caps. Image
2. While many of the items banned in 2020 remain banned in 2021, there have been many important additions on the 2021 list, including banning non-public capital from engaging in news reporting & editing, public account, importing foreign news, holding news summits or prize awards Image
& "news and media sectors and live broadcast services of activities and events involving politics, economy, military, diplomacy, major society, culture, science and technology, health, education, sports, etc".

Now anyone still gonna tell me there's no change?

Keep the change.

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More from @henrysgao

Henry Gao Profile picture
11 Oct
Thanks for all the likes. Now is the time to dig into the "why" question behind the new restrictions.

Simply put, there are 3 reasons:
1. a man and two women;
2. a woman,
3. a man.
1. a man and two women:
Remember this guy? The former CEO of Taobao and heir apparent to Jack Ma. He got into a high-profile scandal last year when he was allegedly involved in an extra-marital affair, then Alibaba rushed to removed all posts from social media. Image
This is how the scandal made its way into a high-level report to the top leadership, where the CAC called it an example of "capital manipulating media". Since then, Alibaba has been ordered to divest its huge media empire, as reported by @WSJ in March.
wsj.com/articles/beiji…
Read 6 tweets
Henry Gao Profile picture
27 Sep
What is China's secret success formula?
unveiled today in a story called "Why We can Succeed" on the front page of the People's Daily:
"The leadership of the Communist Party of China is our greatest advantage from victory to victory...

It is precisely because of the greatest advantage of the party’s leadership that we have achieved great achievements in rapid economic development".
"The greatest significance of China’s peaceful development to the world lies ...in the new Chinese-style modernization path created by China and the new form of human civilization created by China, which contributes Chinese wisdom and Chinese solutions to mankind"
Read 4 tweets
Henry Gao Profile picture
26 Sep
Some gems from @ChairmanRabbit's latest musings on Meng Wanzhou (my own comments in brackets):
1. the trade war forced the cosmopolitan elites in China to chose China and abandon the Western lifestyle they chose (does this include her lux Western outfits?) ImageImageImage
2. Marx was dreaming when he said, "Workers of the world, unite!" American works are the most anti-China. Much easier for the Capitalists around the world to unite.
(So if China reaches some deal with US, that means that the Capitalists in the two countries have colluded?) Image
The big welcome scene in Shenzhen was not organized by the Chinese government: many of the people there are probably Huawei employees.
(so it's organized by Huawei? Do these people get overtime payment for staying up late at the risk of catching COVID?) ImageImage
Read 4 tweets
Henry Gao Profile picture
11 Jun
In addition to the anti-sanctions law, China also issued a Data Security Law yesterday, which includes some good news and some not-so-good news.

I will start with the good news:
1. The law explicitly mentions in two provisions that China will safeguard and promote the free flow of data, which is consistent with China’s new position on data flow in the RCEP;
2. China will actively participate in the making of international rules on data security and standards. This is consistent with China’s active participation in the WTO JSI negotiations on e-commerce, which was analyzed extensively in my paper at ssrn.com/abstract=36953….
Read 9 tweets
Henry Gao Profile picture
10 Jun
The key provisions are Art 4-6.
A few things to note:
1. It cast a very wide net. For example, Art. 4 covers any individuals and organizations directly or indirectly involved in the formulation, decision and implementation of the foreign sanctions.
This could potentially cover the legislators, government officials, law enforcement officers, or even banks or companies who implement foreign sanctions.
Art. 5 goes even further, by covering the spouse and immediate family members for individuals, and management or related companies of the sanctioned entities or individuals.
Read 9 tweets
Henry Gao Profile picture
10 Jun
The full text of China's anti-sanctions law just came out. Below is a rough machine translation.
Read 4 tweets

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