Tag: China

China worries that Trump, facing a tough election, may provoke a new fight

Influential academics in Beijing fear he will turbocharge his attacks to generate support and distract from domestic problems, such as unemployment and the devastating coronavirus death toll that has highlighted Trump’s slow response to the pandemic.

“These guys are crazy. There’s nothing they won’t do to hurt China, to try to destroy China, even when it comes at a cost that previous administrations believed unacceptable to the U.S.,” said Jia Qingguo, a professor of international studies at Peking University who advises the Chinese government.

“As the chances of him getting reelected diminish, we worry he will try to provoke a crisis with China.”

When Trump took office, many here thought that he was looking for a tweetable victory in his trade war with Beijing. Some quietly cheered him on, hoping that he might inject momentum into market-oriented reforms that Chinese leader Xi Jinping had promised but not delivered.

Now, advisers

Read More

Apple’s Assemblers Are Looking To Shift Some Operations From China To India

Apple’s top suppliers stand to get a cost break by making iPhones in India under a government plan for expanding the tech sector.

Assemblers Foxconn Technology, Pegatron Corp. and Wistron Corp. are among a group that includes 19 other tech firms that applied in August to the Indian government’s $6.6 billion Production-Linked Incentive scheme, domestic news website The Hindu reports. The scheme is aimed at stimulating local production of mobile phones and their components, a boon to the fast-changing economy.

A government committee has already cleared their applications, Bloomberg reports. Apple already plans to move one-fifth of its production capacity from China to India, according to Indian news

Read More

Arm China investor sues company, escalating CEO spat amid sale

By Josh Horwitz

SHANGHAI (Reuters) – The Chinese division of UK-based chip designer Arm Ltd has been sued by an investor over its board’s attempt to oust the unit’s chief executive, escalating an internal dispute at a time when the tech group is on the verge of being taken over in a $40 billion deal.

The legal case, which has not been reported, was launched by Ningbo Meishan Bonded Port Area ARM Investment Management Partnership and went through a pre-hearing in a Shenzhen court last week, court records show. The pre-hearing was closed to the public and no further details were immediately available.

Arm is involved in a standoff with Allen Wu, the chief executive of its Chinese division, Arm China. He has refused to step down amid allegations of breaches of conduct.

Wu has not commented publicly on the allegations. He did not respond to questions sent to his

Read More

TikTok: What we know about Oracle partnership and Trump’s China fears

  • The US government is expected to review a deal in which Oracle would become TikTok’s “trusted technology provider” in the US.
  • No details have been made official, but reports indicate the deal is a far cry from President Donald Trump’s early demands that TikTok’s Chinese parent company sell off its US operations. The deal’s reported framework would, however, seem to satisfy some of the US government’s national security concerns.
  • Here’s what we know, what’s been reported, and what questions we still have about the proposed deal between TikTok and Oracle.
  • Visit Business Insider’s homepage for more stories.

The US government is expected to review a deal between Oracle and ByteDance on Tuesday, potentially ending the months-long battle over the popular app TikTok’s ownership and status in the US.

Oracle, best known as the leading provider of database software and a $187 billion tech titan in its own right, is the

Read More

China tops 110 million 5G users in less than a year

Over 110 million users in China have signed up for 5G plans, announced president of the China Academy for Information and Communications Technology (CAICT), a think tank under the telecoms watchdog Ministry of Industry and Information Technology, at an industry event on Wednesday.


Load Error

That makes China the largest 5G market in terms of user size, the think tank president said. The milestone came in less than a year after China’s top carriers rolled out  5G plans for consumers, and just over a year after the authority began issuing 5G licenses for commercial use.

The number is still a small fraction of the overall subscription. In June, China’s three state-run carriers collectively commanded some 1.6 billion mobile subscribers (suggesting China’s 1.4 billion population owned over one mobile device per capita).

China’s 5G ambition is a multi-pronged effort among the government, network carriers, telecoms equipment makers, device makers, and software

Read More

Exclusive: Alibaba, China Mobile weigh $443 mln investment in blacklisted Dahua – sources

HONG KONG (Reuters) – Alibaba Group Holding Ltd and China Mobile Communications Group Co Ltd are considering investing 3 billion yuan ($443 million) in Zhejiang Dahua Technology Co Ltd, three people with knowledge of the matter said.

FILE PHOTO: FILE PHOTO: A logo of Alibaba Group is seen at the company’s headquarters in Hangzhou, Zhejiang province, China, November 18, 2019. REUTERS/Aly Song/File Photo

Dahua, China’s second-largest surveillance equipment maker, is among Chinese tech firms that Washington last year placed on a blacklist of companies it said helped Beijing monitor and detain Uighurs and other Muslim minorities. Those blacklisted cannot buy U.S. technology without U.S. government approval.

E-commerce leader Alibaba and top telecommunications group China Mobile plan to jointly invest in Shenzhen-listed Dahua – which has a market capitalisation of $10.3 billion – via a private share placement in coming weeks, the people said.

China Mobile is also negotiating a three-year

Read More

US tariffs on China are illegal, says world trade body


GENEVA (AP) — A World Trade Organization panel ruled

Read More

Nvidia acquisition of Arm throws company into tech spat between U.S. and China

SHANGHAI (Reuters) – Nvidia Corp’s $40 billion acquisition of chip designer Arm is set to catapult it into the fray of geopolitical tensions between Beijing and Washington, analysts and lawyers say.

Arm’s blueprints for powering chipsets are a critical component for many Chinese smartphone makers and AI firms and China is expected to take a dim view of an American company having so much sway in an industry it has prioritised in its battle for tech supremacy with the United States.

“Anything that creates more concentration in the industry to the benefit of a U.S. company, I would think that’s not aligned with what China wants, said Art Dicker, director at Shanghai-based R&P China Lawyers.

China’s State Administration for Market Regulation, which has to give the go-ahead for the deal alongside other regulators globally, did not respond to a request for comment.

Shares of Nvidia rose 7.6% on Monday following

Read More

ByteDance’s Need for a TikTok-Oracle Deal: China is Slowing

Besides Douyin, it runs two other video apps, Xigua and Huoshan. Its news aggregator, Jinri Toutiao, was its first blockbuster in China and remains a major platform. It is building up its video game and music divisions. It has an e-book app, shopping apps, online learning services, a car buying site, a cloud services platform and an office productivity suite.

“ByteDance has always been very, very enamored with Amazon,” said Rui Ma, an investor and China tech analyst. It and other Chinese internet companies respect “the fact that Amazon can dominate in multiple things,” she said. “It’s also helped by the fact that Jeff Bezos is the richest man on earth.”

In China, ByteDance could still try to use Douyin, which has an estimated 300 million daily users, to herd more people toward its other products — those education apps, for instance.

“Their core user demographic spends eight to 12

Read More

China software firm Ming Yuan launches up to $800 million in Hong Kong IPO

Pedestrians wearing protective masks walk past an electronic ticker displaying the share price of Hong Kong Exchanges & Clearing Ltd. at the Exchange Square complex in Hong Kong, China, on Wednesday, Aug. 19, 2020.

Roy Liu | Bloomberg | Getty Images

Chinese property software company Ming Yuan Cloud on Monday launched an IPO in Hong Kong to raise as much as 6.17 billion Hong Kong dollars ($798 million), a deal term sheet showed, as the city gears up for its second busiest week for equity offerings this year.

The company will sell 374 million shares at a range of HK$15 to HK$16.50 each, which will value it between $3.62 billion and $3.98 billion.

A virtual management roadshow will begin Monday, according to the term sheet, and the deal is set to price on Friday.

Ming Yuan’s deal is part of a slew of IPOs and secondary listings worth at least

Read More