China's State Council has appointed Shan Zhongde, the former head of Nanjing University of Aeronautics and Astronautics, as a vice minister of industry and information technology. Shan had previously been sanctioned by the Trump administration for his alleged links with the People's Liberation Army (PLA). This appointment comes as China aims to achieve greater self-reliance in advanced technology, particularly in the manufacturing sector, and seeks to stimulate innovation in Chinese manufacturing. The relationship between China and the United States has become increasingly contentious, with the US imposing restrictions on the export of advanced technologies to China, while China accuses the US of hindering its economic development. [b65d79d4]
In other news, SUNART RETAIL (06808.HK) has announced a change in its CEO. Lin Xiaohai has resigned as an executive director, chief executive officer, and authorized representative of the company due to the re-designation of his position to other business of Alibaba Group. Shen Hui has been appointed as the new executive director, chief executive officer, and authorized representative of the company. This change in leadership comes as SUNART RETAIL aims to adapt to the evolving business landscape and strengthen its position in the retail industry. [2c7a009f]
Dazed Media is partnering with Huasheng Media to launch the Chinese edition of Another Man, a men's fashion title that recently resumed publication after a four-year hiatus. Huasheng Media, backed by CMC Inc., is the publisher of Chinese editions of T Magazine, The New York Times Travel Magazine, Kinfolk, Wallpaper, and Nylon. The inaugural issue of Another Man China will have four covers, with a teaser cover featuring Balenciaga's creative director Demna Gvasalia. The local edition will publish 12 issues a year and feature both local content and syndicated stories from the UK edition. Feng Chuxuan, owner and CEO of Huasheng Media, will serve as group editorial director of Another Man. The launch will be accompanied by parties and photography exhibitions in Beijing, Shanghai, Chengdu, and Shenzhen. This marks Dazed Media's third partnership in China. Huasheng Media has decided not to renew its five-year publishing licensing with News Corp. for the Chinese edition of WSJ Magazine. [b5cb04fe]