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More from @Byron_Wan

Byron Wan

@Byron_Wan

May 18

3 local banks in China's Henan province — Yu Zhou Xin Min Sheng Village Bank, Shangcai Huimin Country Bank and Zhecheng Huanghuai Community Bank — have frozen at least $178M of deposits, offering scant information on why or for how long, leaving firms

1/n reuters.com/markets/asia/c…

unable to pay workers and individuals locked out of savings.

While nominally small, China's numerous local banks have outsized significance because they lend to small and mid-sized firms so their activities can be an indicator of the health of the Chinese economy.

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Disgruntled depositors in Henan protested outside the Henan office of China Banking & Insurance Regulatory Commission in Zhengzhou, demanding their deposits back…

This took place on May 20 or 19.

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Read 4 tweets

Byron Wan

@Byron_Wan

May 8

Cases of SBIR program funding recipients who:

- dissolved their US companies, joined 🇨🇳 government talent programs and worked at institutions supporting PLA
- took VC money from 🇨🇳 state-owned firms
- worked with 🇨🇳 entities supporting 🇨🇳 defense

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wsj.com/articles/penta…

US polymer solar cells developer Solarmer Energy received SBIR funding from DoD etc, dissolved its US-based businesses and transferred its R&D and IP to a Beijing-based subsidiary which works with a 🇨🇳 government-run lab and has undertaken research with defense applications.

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Soluxra, a now-dissolved firm that developed solar technology for spacecraft and drones, received 4 DoD SBIR grants. Company co-founders Alex Jen and Yip Hin Lap and research scientist Li Chang-Zhi were allegedly recruited by 🇨🇳 government talent programs while employed by

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Read 4 tweets

Byron Wan

@Byron_Wan

May 8

🔥 Scientist Jinsheng Lin at Zhejiang Huahai Pharmaceutical Co — a maker of crucial ingredients for generic drugs including valsartan (taken by millions of people to treat hypertension) — warned, in an internal email addressed to Lin’s supervisor and

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bloomberg.com/news/articles/…

other managers, a year before the start of a global recall (2018) that some valsartan pills could become tainted with cancer-causing NDMA.

Since the recall, similar problems have surfaced in more medications. Digestive drug Zantac was pulled from the market in 2020 for

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containing NDMA. Some versions of the widely used generic diabetes drug metformin were recalled. Pfizer and Sandoz found nitrosamines — the chemical family that includes NDMA — in muscle relaxers, smoking-cessation drugs and other blood-pressure pills.

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Read 4 tweets

Byron Wan

@Byron_Wan

May 7

🔻 residents at a certain building on Yindu Road (银都路) in Shanghai’s Minhang District (闵行区) confronted and clashed with white guards (Minhang police).

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🔻 shoves and fist fights on Yindu Road, Minhang District

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Read 5 tweets

Byron Wan

@Byron_Wan

Apr 23

🔻 Pandemic control ‘white guards’ are busy setting up fences around the entrances to buildings in some communities in Shanghai so that residents are barred from leaving.

These are basically jails.

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Metallic partitions are set up at these Shanghai communities so that residents are confined inside the buildings.

More jails.

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White guards are busy erecting metallic fences around communities in Shanghai even at night.

The residents will be surprised when they wake up the next morning that they’ve suddenly become prisoners overnight.

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Read 8 tweets

Byron Wan

@Byron_Wan

Apr 23

🔻 Apr 23 evening: discontent is brewing at Baohua Town (宝华镇), Jurong (句容, under the administration of Zhengjiang and adjacent to Nanjing), Jiangsu province. The town has been locked down for more than a month!

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