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Staggering growth of super-rich in China According to Forbes’ Rich List of China in 2020, the total wealth of the 400 richest people in China soared from $1.29 trillion to $2.11 trillion last year an increase overall of more than 60 percent. For those who made it to the list, almost two thirds saw an increase in their wealth. The entry criterion for last year’s Rich List was $1.55 billion, compared to the $1 billion threshold in 2019. Much of this was due to the rise and rise of share prices. Nongfu Spring, which was publicly listed in last September in Hong Kong, had a 120 percent increase in its stocks by December 17. Zhong Shanshan, the company’s founder, whose wealth rocketed from $2 billion to $69 billion, replaced Jack Ma as the richest person in China. Jack Ma only saw his wealth rise by 72 percent to reach $65.6 billion! In China’s bottled water market, Nongfu Spring now occupies all market shelves and vending machines. With its control of some of the best ....
US Homeland Security Official Highlights Popular TV Manufacturer’s Ties to Beijing The U.S. Department of Homeland Security (DHS) Acting Secretary Chad F. Wolf revealed that backdoors had been installed in all the TV sets made by Chinese manufacturer TCL, and that the department was reviewing the company’s activities. Wolf added that the DHS would soon issue a related business advisory to warn against using data services and equipment from firms that are linked to the Chinese regime. During a speech given at the Washington-based think tank Heritage Foundation on Dec. 21, Wolf made the shocking revelation: “This year it was discovered that TCL incorporated backdoors into all of its TV sets, exposing users to cyber breaches and data exfiltration.” ....