Quick Glance: Report: HSBC Qianhai Securities establishes a Communist Party committee
- According to the Financial Times, HSBC has become the first Western lender in China to establish a Chinese Communist Party committee in an in-country investment banking operation.
- The FT said that HSBC Qianhai Securities established a CCP committee after HSBC's stake in the joint venture expanded from 51 to 90 percent, citing two persons acquainted with the move.
- Such committees can install party officials at the administrative level of a corporation, although sources close to HSBC told the FT that the committee in question would not have any management responsibilities.
- According to the Financial Times, HSBC employs approximately 7,000 people in mainland China.
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Quick Glance: Commentary: Are we sick and weary of hearing about Ukraine, as we were with COVID-19?
- According to Edson C Tandoc Jr. of the NTU Centre for Information Integrity and the Internet, there are solutions to combat news fatigue.
- This is referred to as "news fatigue" by social scientists, and it occurs when we become tired of hearing about a certain topic or issue.
- Unless there is a dramatic change, lingering crises such as the Ukraine invasion and the pandemic fade from notice.
- So, how can we maintain public attention and interest in the face of news fatigue?
- First, we must remind ourselves why this is vital and how it impacts the entire world, not just Russia and Ukraine.
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#Gravitas | HSBC has formed a Communist Party committee at its investment banking venture in China.
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