北京向國民發出新訊號：你的錢應該留在國內（2/2）

Recently The New York Times reported the following:

Beijing’s New Message to Its Citizens: Your Money Belongs at Home (2/2)

Eager to keep capital within its borders, China is restricting the ways individuals can engage with global markets.

THE NEW NEW WORLD By Li Yuan - Li Yuan writes The New New World column, which focuses on China’s growing influence on the world by examining its businesses, politics and society.

June 16, 2026

(continue)

The Institute of International Finance, a trade association based in Washington, estimated that resident capital outflows from China reached $809 billion in 2025, the highest level on record.

In 2025, Hong Kong overtook Switzerland as the world’s largest cross-border wealth management hub, partly driven by money coming from mainland China, according to Boston Consulting Group.

But Beijing increasingly sees this outflow of Chinese wealth as unpatriotic. Hu Xijin, a former editor in chief of the nationalist tabloid Global Times and one of China’s most prominent pro-government commentators, argued on the Weibo social media platform that the government’s latest moves served “the overall interests of Chinese society.”

“If stock investors buy more A-shares and fewer U.S. stocks, or if some people refrain from hastily selling their homes in China to buy property in the West, the overall effect would be positive,” he wrote.

Keeping savings at home and interest rates low is vital to Beijing. The country’s hugely indebted local governments have been restructuring their debts, relying on cheap domestic capital to ease interest burdens that consume roughly a fifth of their revenue. The savings are also backing China’s enormous investment in infrastructure, robotics, semiconductors and other industries deemed key to self-reliance and national security.

But that is not where sophisticated investors want to be. A technology worker who asked to be identified only by his last name, Xu, for fear of government retribution, has put as much money as China’s law allows into an American brokerage account since 2023.

Now all of the difficulties created by Beijing’s financial control leave Mr. Xu wondering, “Is my money still mine?”

Currently, Chinese citizens can legally convert their renminbi savings to $50,000 in foreign currency. Officially, that money can be used only for things like tourism or education, but using the quota for overseas investment in stocks or property has long been a tolerated gray zone.

For now, the quota remains the only legitimate opening for individuals to move money abroad. But there have been reports that banks are asking more questions about the use of the money, and people are worried that converting renminbi could become more difficult.

“So many people in the world can trade the U.S. stocks. Why can’t the Chinese?” Mr. Xu asked.

He is frustrated that SpaceX has excluded investors in China from participating in its I.P.O., the biggest in history. OpenAI and other potentially lucrative artificial intelligence companies may follow suit.

Others are now trying to slip under the wire and move their money abroad before the government blocks the passage completely.

In the past two weeks, investors feverishly traded workaround tips on social media and in group chats. Some flocked to Hong Kong to open bank and brokerage accounts at smaller firms with looser requirements. Others explored options to visit the United States and open accounts in person.

“No amount of financial controls can prevent people from moving their assets to places that offer better opportunities,” said Stephen, an I.T. worker in Guangdong Province who also asked to be identified by only one name.

Translation

北京向國民發出新訊號：你的錢應該留在國內（2/2）

中國急於將資金留在境內，正在限制個人參與全球市場的方式

（繼續）

總部位於華盛頓的國際金融協會估計，2025年中國居民資本外流將達8,090億美元，創歷史新高。

波士頓顧問集團的數據顯示，2025年，香港將超越瑞士，成為全球最大的跨國財富管理中心，部分原因是來自中國大陸的資金流入。

但北京越來越將這種中國財富外流視為不愛國的行為。曾任民族主義小報《環球時報》總編輯、中國最知名的親政府評論員之一胡錫進在微博社交媒體平台上辯稱，政府的最新舉措符合「中國社會的整體利益」。

他寫道：“如果股票投資者多買A股，少買美股，或者如果一些人不要急於賣掉在中國的房產去西方置業，那麼整體效果將是積極的。”

維持國內儲蓄和低利率對北京至關重要。中國負債累累的地方政府一直在進行債務重組，依靠廉價的國內資本來減輕利息負擔，這些利息支出約佔其財政收入的五分之一。這些儲蓄也用於支持中國在基礎設施、機械人、半導體和其他被視為自力更生和國家安全關鍵產業的巨額投資。

但這並非資深的投資人想要投資的領域。一位因擔心政府報復而要求只透露姓氏為Xu的科技工作者，自2023年以來，已將中國法律允許的最大金額存入美國證券帳戶。

如今，北京的金融管控帶來的種種困難讓Xu先生不禁質疑：“我的錢還屬於我嗎？”

目前，中國公民可以合法地將人民幣存款兌換成最高5萬美元的外幣。官方規定，這筆錢只能用於旅遊或教育等用途，但長期以來，利用這筆額度進行海外股票或房地產投資一直是一個被默許的灰色地帶。

目前，這筆額度仍然是個人將資金轉移到國外的唯一合法途徑。但有報導稱，銀行正在對資金用途提出更多疑問，人們擔心人民幣兌換可能會變得更加困難。

Xu先生問: 「世界上那麼多人都能交易美國股票，為什麼中國人不行？」。

他對SpaceX將中國投資者排除在史上規模最大的IPO之外感到沮喪。 OpenAI和其他一些潛在利潤豐厚的人工智能公司可能也會效仿。

現在，其他人正試圖在政府徹底封鎖之前，偷偷將資金轉移到國外。

過去兩週，投資人在社交媒體和群組聊天中熱切地交流著各種變通方法。有些人湧向香港，在要求較為寬鬆的小型銀行和券商開設帳戶。另一些人則考慮親自前往美國開設帳戶。

一位要求只透露自己的单個名字叫史蒂芬的廣東省IT從業人員說道:「再多的金融管制也無法阻止人們將資產轉移到那些能提供更好機會的地方」。

            So, over the past few years, Chinese citizens have increasingly invested in overseas securities, and especially in the U.S. stock market. But in recent weeks, Beijing tries to close these channels. Beijing wants to keep savings at home and to keep interest rates low. The country’s hugely indebted local governments have been relying on cheap domestic capital to ease interest burdens that consume roughly a fifth of their revenue. Domestic savings are also used to back China’s enormous investment in infrastructure, robotics, semiconductors and other industries. Apparently, Chinese needs new money to support its economy.

北京向國民傳遞的新訊息：你的錢應該留在國內（1/2）

Recently The New York Times reported the following:

Beijing’s New Message to Its Citizens: Your Money Belongs at Home (1/2)

Eager to keep capital within its borders, China is restricting the ways individuals can engage with global markets.

The New York Times - By Li Yuan who writes The New New World column, which focuses on China’s growing influence on the world by examining its businesses, politics and society.

June 16, 2026

Beijing has long built walls between Chinese citizens and the outside world: The Great Firewall blocks out information, and passport controls and exit bans restrict movement. But money had been different.

In an unspoken bargain between the government and its people, political limits could be tolerated as long as families were largely free to accumulate, protect and quietly diversify their wealth.

That bargain is fraying.

Over the last couple of years, Chinese citizens have increasingly invested in overseas securities, and especially in the U.S. stock market. But in recent weeks, Beijing has moved to close informal channels between Chinese households and global capital markets. It gave several Hong Kong and Singaporean-based brokerages with significant mainland clientele two years to wind down those accounts. It expanded rules on overseas investment to explicitly cover individuals for the first time, threatening to confiscate vaguely defined “illegal gains.”

In Hong Kong, long a gateway to overseas investing for mainland residents, banks and brokerages have tightened requirements for opening an account. Some brokerages told their mainland clients that the clients could sell U.S. stocks but not buy them. The Chinese social media app known as RedNote announced that it had cracked down on posts teaching people how to open U.S. stock trading accounts.

Beijing is pulling every available lever to mobilize the nation’s private wealth as a resource for its state-led drive toward technological self-reliance and national rejuvenation. In a major speech published in January, China’s leader, Xi Jinping, argued that financial latitude must be subordinated to national security, warning that China must guard against not only the risks of opening up but also risks that are “deliberately engineered” by geopolitical adversaries.

Geopolitical considerations are shrinking opportunity for Chinese investors in other ways. Amid the intense rivalry between the United States and China, SpaceX excluded Chinese investors from its history-breaking initial public offering last week. At the same time, Beijing is erecting its financial walls precisely when ordinary Chinese have the most reason to look outward for more lucrative places to put their savings.

In the United States, stocks and bonds are the default investments for long-term savings. But retail investors in China tend to shy away from the country’s stock exchanges, known as the A-shares market, viewing it less as a vehicle for building household wealth than as a speculative arena swayed by policy, rumor and sudden state intervention. The market has many nicknames, including “the meat grinder.”

Instead, for two decades, middle-class families invested in real estate. The housing market was booming, and people bought apartments not just to live in but as retirement plans, college funds and assets for their children. Nearly one-third of urban households owned two apartments, and more than 10 percent owned three or more apartments, according to a 2020 survey by China’s central bank.

After the housing market collapsed in 2021, however, many people lost faith in the asset that had underpinned their sense of security. Already big savers because of the country’s spare social safety net, Chinese people retreated into defensive savings. By the end of 2025, China’s household bank deposits had reached the equivalent of $24.4 trillion, nearly tripling over a decade.

But that money is earning diminishing returns. Three-quarters of household savings are in fixed-term deposits. But those rates have fallen to around 1 percent, while high-yield savings accounts in the United States offer up to around 4 percent.

At the same time, the U.S. stock market kept going up. For financially sophisticated members of the Chinese middle class, overseas markets became a hedge against China’s economic slowdown, political uncertainty and weakening domestic returns.

(to be continued)

Translation

北京向公民傳遞的新訊息：你的錢應該留在國內（1/2）

中國急於將資金留在境內，正在限制個人參與全球市場的方式

長期以來，北京在中國公民與外部世界之間築起了高牆：防火牆阻隔資訊傳播，護照管制，和出境禁令限制了人員流動。但金錢卻並非如此。

在政府與人民之間一項不成文的協議中，只要家庭能夠大體上自由地累積、保護和低調地分散財富，政治限制就可以被容忍。

然而，這項協議正在瓦解。

過去幾年，中國公民越來越多投資海外證券，尤其是美國股市。但近幾週來，北京採取行動，關閉中國家庭與全球資本市場之間的非正式管道。它要求幾家在香港和新加坡擁有大量內地客戶的券商在兩年內關閉這些帳戶。北京首次將境外投資規則明確涵蓋每一個人，並威脅要沒收定義模糊的「非法所得」。

香港，長期以來一直是內地居民進行海外投資的門戶，它的銀行和券商現收緊了開戶要求。一些券商告知其內地客戶，他們可以出售美國股票，但不能購買。中國社交媒體應用程式 “小紅書” 宣佈，已打擊教人如何開設美國股票交易帳號的貼文。

北京正竭盡所能，調動國民財富，用作為國家主導的科技自立和民族復興運動的資金。今年1月，中國領導人習近平發表重要講話，強調金融自由必須服從國家安全，並警告中國不僅要防範對外開放的風險，還要防範地緣政治對手「蓄意製造」的風險。

地緣政治因素也在其他方面擠壓著中國投資者的機會。在中美競爭白熱化的背景下，SpaceX上週將其歷史性的首次公開發行（IPO）把中國投資者排除在外。同時，正值一般中國群眾最有理由尋求更有利可圖的投資管道之際，北京卻在築起金融壁壘。

在美國，股票和債券是長期儲蓄的首選投資。但中國的散戶投資者往往對叫做A股的中國股市場敬而遠之，他們認為A股市場與其說是累積財富的工具，不如說是一個容易受到政策、謠言和政府突然幹預影響的投機場所。股票市場有很多別稱，其中之一就是「絞肉機」。

然而，在過去的二十年裡，中產階級家庭紛紛投資房地產。房地產市場一片繁榮，人們購買公寓不僅是為了自住，更是為了退休養老、為子女教育費、為子女累積財富。根據中國人民銀行2020年的一項調查，近三分之一的城鎮家庭擁有兩套公寓，超過10%的家庭擁有三套或更多公寓。

然而，在2021年房地產市場崩盤後，許多人對這種曾經支撐他們安全感的資產失去了信心。由於中國社會保障體系的薄弱，中國人原本已儲蓄較多，如今更退向防禦性儲蓄。到2025年底，中國居民銀行存款總額已達24.4兆美元，十年內增加了近三倍。

但是那筆錢的收益卻越來越少。。四分之三的居民儲蓄都以定期存款的形式存在。但這些利率已降至1%左右，而美國的高收益儲蓄帳戶利率高達4%左右。

與此同時，美國股市持續上漲。對於中國中產階級裡那些具備一定金融知識的人來說，海外市場已成為對沖中國經濟放緩、政治不確定性和國內收益下降風險的工具。

 （待續）

JASRAC's Policy: Music Generated by AI, Both Lyrics and Music, Does Not Earn Copyright

Recently NHK News on-line reported the following:

歌詞も曲もAIが生成した音楽「著作物に該当しない」JASRAC方針

2026年6月13日8:43

生成AI・人工知能

生成AIを利用して作られた音楽が急速に広がる中、JASRACは、単純な指示に基づいてAIが歌詞も曲も生成したものは「人間の創作的寄与が認められない作品」として、著作物に該当しないなどとするガイドラインを公表しました。

JASRAC＝日本音楽著作権協会は11日、AIを利用した作品の取り扱いに関するガイドラインをホームページで公表しました。

この中で、単純な指示に基づいてAIが歌詞も曲も生成したものについては「人間の創作的寄与が認められない作品」として著作物に該当せず管理を引き受けないとしています。

このため、こうした楽曲の作者は、JASRACに楽曲の使用料の請求や分配を委託できないということです。

一方で、単純な指示に基づいてAIが生成したのが歌詞か曲のいずれかだけの場合は、人が創作した部分のみを管理する対象として取り扱うとしています。

こうした作品を届け出る際には、どの部分をAIが生成したかを記載するよう求めていて、虚偽があった場合は法的な責任が生じるとしています。

JASRACは「生成AIが近年急速に高度化し普及が進む中、ガイドラインを公表することで、音楽制作に関わる多くのクリエーターにはAIの取り扱いや、何に創作的な価値があるのかを知ってもらいたい」とコメントしています。

Translation

JASRAC's Policy: Music Generated by AI, Both Lyrics and Music, Does Not Earn Copyright

June 13, 2026, 8:43 AM

Generative AI/Artificial Intelligence

Amidst the rapid spread of music created using generative AI, JASRAC had published guidelines stating that works where both lyrics and music were generated by AI based on simple instructions would be considered as "works that human creative contribution is not observed" and therefore did not qualify as copyrighted works.

JASRAC (Japanese Society for Rights of Authors, Composers and Publishers) published guidelines on its website on the 11th regarding the handling of works using AI.

In the guidelines, it stated that works where both lyrics and music were generated by AI based on simple instructions were considered "works where human creative contribution is not observed" and therefore do not qualify as copyrighted works, and JASRAC would not undertake management of such works.

Therefore, the authors of such songs could not entrust JASRAC with the collection and distribution of royalties for the use of their music.

On the other hand, if only either the lyrics or music were generated by AI based on simple instructions, only the human-created portion would be subject to management.

When submitting such works, creators were required to indicate which parts were generated by AI, and any false information could result in legal liability.

JASRAC commented, "As AI generation technology has become increasingly sophisticated and widespread in recent years, we hope that by publishing these guidelines, many creators involved in music production will understand how to handle AI and what has creative value."

So, in Japan, works where both lyrics and music are generated by AI based on simple instructions are considered as works with no human creative contribution and therefore will not be qualified as copyrighted works. Apparently, AI is being used in our daily activities in many respects.

First Clinical Trial of Heart Disease Treatment Using iPS Cells Conducted: Transplantation via Catheter

Recently NHK News on-line reported the following:

The catheter system used (Source: NHK)

iPS細胞使う心臓病治療の治験1例目を実施 カテーテルで移植

2026年6月12日18:19

iPS細胞

iPS細胞から作った心臓の細胞をカテーテルを使って心臓病の患者に移植する治験の1例目を行ったと、慶応大学発のベンチャー企業などが発表しました。胸を開く手術を行う必要がなく、企業は患者の負担の少ない治療につながるとしています。

これは、慶応大学発の医療ベンチャー企業と、信州大学医学部附属病院の小林秀樹助教らが12日、会見を開いて発表しました。

企業はiPS細胞から心臓の筋肉の細胞を作り球状に加工したうえで、重い心臓病の患者の足の付け根の血管から心臓までカテーテルを通して移植する新たな治療法の開発を進めています。

ことし3月、治験の1例目として「拡張型心筋症」という重い心臓病の70代の男性患者に移植を行い、これまでのところ重い合併症はなく、術後1か月の時点で心臓の機能に改善傾向が見られたということです。

企業は今後、3年間かけて合わせて14人に移植を行い、安全性や有効性を確認するということです。

ことし国に承認されたiPS細胞を使った別の心臓病の治療は胸を開く手術が必要で、企業は今回の方法は患者の負担の少ない治療につながるとしています。

小林助教は「心臓の機能の数値も改善していて他の治療ではなかなか見られないデータだ。長期的な安全性や有効性をしっかりと確認したい」と話していました。

Translation

First Clinical Trial of Heart Disease Treatment Using iPS Cells Conducted: Transplantation via Catheter

June 12, 2026, 18:19

iPS Cells

A venture company originating from Keio University and others had announced the first clinical trial of transplanting heart cells created from iPS cells into patients with heart disease, using a catheter. The company stated that it led to treatments that were less burdensome for patients as it eliminated the need for open-chest surgery.

This was announced at a press conference on June 12th by a medical venture company originating from Keio University, and Assistant Professor Hideki Kobayashi (小林秀樹) of Shinshu University Hospital.

The company was developing a new treatment method in which heart muscle cells were created from iPS cells, processed into a spherical shape, and then transplanted into the heart through a catheter from a blood vessel in the hip joint of patients who had severe heart disease.

In March of this year, the first clinical trial involved a male patient in his 70s with “dilated cardiomyopathy” which was a severe heart disease. So far, there had been no serious complications, and improvement in heart function was observed one month after the surgery.

The company planned to perform transplants on a total of 14 people over the next three years to confirm safety and effectiveness.

Another heart disease treatment using iPS cells, approved by the government this year, required open-chest surgery. The company said the new method would lead to treatment that minimized the burden on the patient.

Assistant Professor Kobayashi said, "The cardiac function values ​​have also improved, and such data are rarely seen in other treatments. We want to thoroughly confirm the long-term safety and effectiveness."

So, Japan has carried out the first clinical trial of transplanting heart cells created from iPS cells into patients using a catheter. By using a catheter, the treatment that could reduce burden on patients as it eliminates the need for open-chest surgery. This is good news for many patients with heart disease.

影片顯示中國企業兜售北韓勞工

Recently The New York Times reported the following:

Videos Show Chinese Businesses Hawking North Korean Labor

On social media, Chinese entrepreneurs are touting cheap labor across the border, as trade between the two countries regains momentum.

The NYT - By Jiawei Wang and Choe Sang-Hun - Reporting from Seoul

June 8, 2026

Quick deliveries of large orders for stuffed toys, fake eyelashes and crocheted bags that are made with cheap labor, including some workers who are on the job for 16 hours straight.

This is the pitch some Chinese businesses are making on social media to potential customers. But the products they are selling are made in North Korea, like in this video of a wig factory.

In the posts, which have proliferated in recent years, some Chinese entrepreneurs say that they own factories in North Korea and openly share contact information, splashing their account handles on videos of their products — in a clear violation of sweeping U.N. Security Council sanctions that bar nations from running “joint ventures or cooperative entities” in North Korea.

The videos have been viewed tens of thousands of times and offer a rare glimpse into factory life in North Korea. They are also a sign of the renewed ties between the neighbors — official trade between the countries has jumped recently and the Chinese leader Xi Jinping arrived in Pyongyang on Monday for a summit with his North Korean counterpart, Kim Jong-un.

The New York Times reviewed 34 social media accounts and over 400 posts that promoted goods made in North Korean factories on Douyin, China’s version of TikTok, and Xiaohongshu, which is also known as Red Note. The Times used satellite imagery and other online footage to verify where the videos in this article were recorded. People behind two of the accounts that posted the videos declined to comment and the others did not respond.

The social media accounts touted the same marketing line: thousands of cheap and skilled workers. As one post put it in Chinese, with a smiley-face emoji: “Good value for money.”

“Chinese entrepreneurs are returning to North Korea to run joint ventures,” said Lee Sang-Yong, research director at Daily NK, a Seoul-based website specializing in North Korean affairs. “While the rest of the world was not paying much attention, bilateral trade has quietly recovered to prepandemic levels.”

North Korea is not completely cut off by U.N. sanctions. Firms can export items like wigs and tungsten ores, as long as they are not part of a joint venture with foreign companies. Official trade between North Korea and China reached nearly $1 billion in the first four months of this year, jumping about 23 percent from the same period a year ago, according to Chinese customs data.

Much of the factory activity appears to be happening in the northeastern city of Rason, near North Korea’s borders with China and Russia. Pyongyang designated the city as a special economic zone in 1991, aimed at attracting foreign investment — particularly from China — to build and run factories using low-cost North Korean labor.

It was not possible to determine if the social media videos have actually led to orders. But as contract manufacturers, many North Korean factories do not have a robust domestic supply chain. The country has “relied heavily on importing raw materials and intermediate goods from China, then manufacturing and reselling finished products by leveraging its relatively abundant labor force,” said Yi Ji-sun, a research fellow at the Institute for National Security Strategy in Seoul.

Many of the social media posts emphasized the handiwork of the large work force. A video at one factory shows more than 150 men and women assembling false eyelashes, using small tools to nimbly weave the fabric and hammer the lashes onto a base. The caption reads, “North Korea Rason eyelash factory.”

When the product is ready, workers prepare for export by packing boxes labeled with the quantity and the name of the lash style, “Mega Volume” or “Crisscross,” in Chinese characters. Businesses pitched the rapid turnaround of large orders as a key advantage of working with North Korean factories. A video posted last August shows a table covered with more than 200 boxes, with the caption “Shipping out today.”

U.N. sanctions bar nations from buying textiles, including “fabrics and partially or completed apparel products,” from North Korea. However, posts showed a variety of goods that appeared to violate the ban, including hand-knit bags and crocheted toys.

One account hawked a traditional Chinese dress called qipao with the caption, “New pieces fresh off the frame by North Korean embroiderers. Seeking their destined owner.”

The social media posts also offer a look at life inside North Korean factories. The laborers work and live under military-style discipline. They eat at communal dining areas and participate in collective exercises.

Government propaganda slogans hang on the factory walls, continuously reinforcing loyalty to Mr. Kim.

North Korea has historically likened its foreign investment strategy to “putting up mosquito nets” — a policy designed to catch external capital while blocking foreign cultural influence. The remote geography of the Rason Special Economic Zone serves this purpose, allowing Pyongyang to isolate foreign investors from the general population.

To prevent the spread of outside information, the regime favors ethnic Chinese investors over Chinese business people of Korean descent who could communicate with locals, according to South Korean officials and analysts.

Translation

影片顯示中國企業兜售北韓勞工

隨著中美貿易復甦，一些中國企業家在社交媒體上大力宣傳其廉價的北韓勞動力

大量毛絨玩具、假睫毛和鉤針編織包等產品，均由廉價勞動力生產，部分工人甚至連續工作16小時。

這是部分中國企業在社交媒體上向潛在客戶推銷的廣告。然而，他們銷售的產品卻產自北韓，例如這段假髮工廠的影片。

近年來，這類貼文層出不窮。一些中國企業家在貼文中聲稱他們在北韓擁有工廠，並公開分享聯繫方式，在產品影片中大肆宣傳他們的帳號 - 這顯然違反了聯合國安理會禁止各國在北韓開展「合資企業或合作實體」的全面制裁。

這些影片已被觀看數萬次，讓人們得以罕見地窺看北韓工廠的日常生活。它們也標誌著中朝兩國關係的復甦 - 兩國間的官方貿易額近期大幅增長，中國國家主席習近平週一抵達平壤，與北韓最高領導人金正恩舉行峰會。

《紐約時報》查閱了抖音（中國版TikTok）和小紅書（又名Red Note）上的34個社交媒體帳號和400多條宣傳北韓工廠產品的推文。 《紐約時報》利用衛星影像和其他網路影片資料核實了本文中影片的拍攝地點。發佈這些影片的兩個帳號的經營者拒絕置評，其他帳號則未作回應。

這些社交媒體帳號宣傳的都是同一套說法：成千上萬廉價且技術純熟的工人。正如一篇中文帖子用笑臉表情符號寫道：“物超所值。”

總部位於首爾、專門報道朝鮮事務的網站Daily NK的研究主管Lee Sang-Yong表示:「中國企業家正在返回北韓經營合資企業」; 「在世界其他國家並未過多關注的情況下，雙邊貿易已悄悄恢復到疫情前的水平」。

北韓並未完全被聯合國制裁所封鎖。只要不與外國公司成立合資企業，企業就可以出口假髮和鎢礦等商品。根據中國海關數據顯示，今年前四個月，朝中官方貿易額接近10億美元，比去年同期成長約23%。

大部分工廠活動似乎都集中在北韓東北部靠近中國和俄羅斯邊境的羅先市(Rason)。 1991年，平壤將羅先市劃為經濟特區，旨在吸引外資 - 尤其是來自中國的投資 - 利用北韓低成本勞動力建設和營運工廠。

目前尚無法確定這些社交媒體影片是否真的帶來了訂單。但作為代工生產商，許多北韓工廠缺乏完善的國內供應鏈。首爾國家安全戰略研究所研究員Yi Ji-sun表示，北韓「嚴重依賴從中國進口原料和半製成品，然後利用其相對豐富的勞動力進行生產和再銷售成品」。

許多社交媒體貼文都強調了龐大勞動力的精湛技藝。一段影片顯示，在一家工廠裡，150多名男女正在組裝假睫毛，他們使用小型工具靈巧地編織布料，並將睫毛釘在底座上。影片標題為「北韓羅先眼睫毛工廠」。

產品完成後，工人會準備出口，將有用中文標註數量和眼睫毛款式名稱，或標註着 ”特大” 或 ”交叉” 的盒子裝箱。北韓工廠的賣點是能夠迅速處理大量訂單。去年八月發佈的一段影片顯示，一張桌子上擺放著200多個箱，標題是「今天發貨」。

聯合國的制裁是禁止各國向北韓購買紡織品，包括「布料和半成品或成品服裝」。然而，一些貼文顯示，北韓出售的多類商品似乎違反了禁令，其中包括手工編織的包包和鉤針編織的玩具。

一個帳號兜售一種叫旗袍的傳統中國服飾，並配文：“朝鮮刺繡工匠新鮮出爐的新款，正在尋找它們命中注定的主人。”

這些社交媒體貼文也展現了北韓工廠內部的生活。工人們在類似軍事化的紀律下工作和生活。他們在公共食堂用餐，並參與集體体操。

工廠牆上懸掛著政府宣傳標語，不斷強化對金正恩的忠誠。

北韓歷來將對外投資策略比喻為「架設蚊帳」 - 旨在吸引外來資本，同時阻止外國文化的影響。羅先經濟特區的偏遠地理位置正符合這一目的，使平壤能夠將外國投資者與普通民眾隔離。

據韓國官員和分析人士稱，為了防止國外資訊流傳，北韓政權更傾向華裔投資者，而不是能夠與當地人交流的朝鮮族裔華商。

So, in some posts on social media in China, Chinese entrepreneurs say that they own factories in North Korea, yet these investments are in a clear violation of the U.N. Security Council sanctions that bar nations from running “joint ventures or cooperative entities” in North Korea. North Korea all along has likened its foreign investment strategy as “putting up mosquito nets” — a policy designed to attract outside capital while blocking foreign cultural influence, a goal which China also wants to achieve and with some success. Apparently, North Korea needs outside money to support its economy.

US Inflation Reaches 4% Level, Highest in About 3 Years, Fed Interest Rate Hike Expected

Recently NHK News on-line reported the following:

US CPI  (Source: NHK)

米物価上昇率4％台に 約3年ぶり高水準でFRB利上げ観測

2026年6月10日22:00

(2026年6月10日23:31更新)

統計・指標

アメリカの先月の消費者物価指数は、ホルムズ海峡の事実上の封鎖を背景にエネルギー価格が大幅に上昇したことなどから去年の同じ月と比べて4.2％の上昇となりました。およそ3年ぶりの高い水準で、金融市場ではインフレの再加速を抑えるためFRB＝連邦準備制度理事会が年内にも利上げに踏み切るのではないかとの見方が出ています。

アメリカ労働省が10日に発表した先月の消費者物価指数は去年の同じ月と比べて4.2％の上昇となりました。

伸び率は前の月から0.4ポイント拡大し、2023年4月以来、3年1か月ぶりの高い水準となりました。

ホルムズ海峡の事実上の封鎖の影響などで原油価格が高騰していることを背景に、ガソリン価格の上昇率が40.5％となるなどエネルギー価格の大幅な上昇が全体を押し上げたほか、衣料品が4.8％、医療サービスが3.6％、住居費が3.4％、それぞれ上昇しました。

また、変動の大きい食品やエネルギーを除いたいわゆるコアの物価指数も去年の同じ月と比べて2.9％の上昇と、伸び率が前の月から0.1ポイント拡大しました。

伸び率の拡大は3か月連続です。

金融市場ではインフレの再加速を抑えるためFRBが年内にも利上げに踏み切るのではないかとの見方が出ています。

Translation

US Inflation Reaches 4% Level, Highest in About 3 Years, Fed Interest Rate Hike Expected

June 10, 2026, 22:00

(Updated June 10, 2026, 23:31)

Statistics and Indicators

The US Consumer Price Index (CPI) for last month rose 4.2% compared to the same month last year, largely due to a significant increase in energy prices against the backdrop of the de facto blockade of the Strait of Hormuz. This was the highest level in about three years, leading to speculation in financial markets that the Federal Reserve (FRB) might raise interest rates before the year-end to curb renewed inflation.

The US Department of Labor announced on the 10th that the CPI for last month rose 4.2% compared to the same month last year.

The growth rate increased by 0.4 percentage points from the previous month, reaching its highest level in 3 years and 1 month since April 2023.

Driven by soaring crude oil prices due to the de facto blockade of the Strait of Hormuz, gasoline prices rose sharply by 40.5%. While driving up the overall inflation rate, clothing prices rose 4.8%, healthcare services 3.6%, and housing costs 3.4%.

Furthermore, the so-called core inflation index that excluded volatile food and energy prices, rose 2.9% compared to the same month last year, an increase of 0.1 percentage point from the previous month.

The rate of had been continuing for three months in a row.

In the financial markets, there's a view that the Fed might raise interest rates later this year to curb the renewed acceleration of inflation.

So, the US CPI for last month rose 4.2% compared to the same month last year, largely due to a significant increase in energy prices. This is the highest level in about three years and probably the US may raise interest rates before the year end.

China's May Exports Increased by Over 19%; The Future Focus is on the Impact of High Crude Oil Prices

Recently NHK News on-line reported the following:

中国 5月の輸出額 19％余り増加 原油高の影響が今後の焦点

2026年6月9日14:58

中国

中国の5月の輸出額は、東南アジア向けが大きく伸び、アメリカ向けも大幅に増加したことから、去年の同じ月と比べて19％余り増えました。今後はイラン情勢を背景とした原油価格の高止まりがどう影響するかが焦点となります。

中国の税関当局が9日発表した貿易統計によりますと、5月の輸出額は去年の同じ月と比べてドル換算で19.4％増加しました。

これは、主要な輸出先の東南アジア向けが大きく伸びたことに加え、アメリカ向けも貿易摩擦の激化で大きく減った去年5月と比べて大幅に増加したことなどが主な要因です。

中国の輸出をめぐっては、イラン情勢を背景とした原油価格の高止まりで、主要な輸出先の内需が冷え込むのではないかという懸念が出ていて、今後、原油高がどう影響するかが焦点となります。

一方、輸入額は去年の同じ月と比べ、27.4％増加しました。

また、日本との貿易は、日中関係が悪化する中でも輸出額が10％余り、輸入額が29％余り、それぞれ増えました。

Translation

China's May Exports Increased by Over 19%; The Future Focus is on the Impact of High Crude Oil Prices

June 9, 2026, 2:58 PM

China

China's May exports increased by over 19% compared to the same month last year, driven by significant growth in exports to Southeast Asia and the United States. From now on, the focus would be on how the persistently high crude oil prices stemmed from the situation in Iran could make an impact.

According to trade statistics released by Chinese customs authorities on the 9th, May exports increased by 19.4% in dollar terms compared to the same month last year.

This was mainly due to a significant increase in exports to Southeast Asia as a major export destination, as well as a substantial increase in exports to the United States, compared to May last year when exports fell sharply due to escalating trade friction.

Regarding China's exports, concerns were rising that persistently high oil prices because of the situation in Iran might cool domestic demand in major export destinations. From now on, the impact of high oil prices would be a key focus.

Meanwhile, imports increased by 27.4% compared to the same month last year.

Furthermore, trade with Japan saw increases of over 10% in exports and over 29% in imports, even amid deteriorating Japan-China relations.

              So, China's May exports see a big increase compared to the same month last year. From now on, the focus would be on how the persistently high crude oil prices due to the situation in Iran could affect China’s trading figures in the coming months.