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☆ China drafts measures for how accounting firms should manage data
  + stars: | 2023-11-13 | by ( ) www.reuters.com   time to read: 1 min
A man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/Illustration/ Acquire Licensing RightsBEIJING, Nov 13 (Reuters) - China finance ministry issued draft measures for how accounting firms in the country should manage data, the ministry said in a statement released last week. The draft rules said the chief partner is the person responsible for the data security of the firm. It also requires a cyberspace security review if these firms handle data that could impact national security. Reporting by Albee Zhang and Brenda Goh; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.
Persons: Kacper, Albee Zhang, Brenda Goh, Tom Hogue Organizations: REUTERS, Rights, Thomson Locations: Rights BEIJING, China
☆ China rushes to swap Western tech with domestic options as U.S. cracks down
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: +10 min
China spent 1.4 trillion yuan ($191 billion) replacing foreign hardware and software in 2022, marking a year-on-year increase of 16.2%, according to IT research firm First New Voice. Two firms awarded the Harbin tenders were subsidiaries of China Electronics Corporation and China Electronics Technology Group Corporation - both heavily targeted by U.S. sanctions. The U.S. Department of Commerce, China Electronics Corporation and China Electronics Technology Group Corporation did not return requests for comment. Despite heavy spending on domestic substitution, however, foreign firms are still dominant suppliers for banking and telecoms database management. Non-Chinese companies held 90% of market share for banking database systems at the end of 2022, according to EqualOcean, a tech consultancy.
Persons: Tyrone Siu, Kendra Schaefer, Mo Jianlei, Eric Zheng, Brenda Goh, Katerina Ang Organizations: REUTERS, Companies Beijing, Reuters, New, Trivium China, Liberation Army, Tech, Chinese Academy of Sciences, BMC, U.S, Cyberspace Security, China Telecommunications Corporation, Qualcomm, U.S . Treasury, Google, Apple, China Electronics Corporation, China Electronics Technology Group Corporation, Microsoft, Adobe, China Tobacco, Microsoft Windows, Chinese Academy of Engineering, European Union Chamber of Commerce, of Commerce, Shanghai, U.S . Department of Commerce, HUAWEI, Huawei, IDC, Financial, Lenovo, HK, Beijing, Thomson Locations: Dongguan, Guangdong province, China, BEIJING, Washington, State, Beijing, Gansu province, Harbin, Xiamen, U.S, American, Shanghai
☆ China's Didi sees 2022 revenue hit by COVID, net loss narrows
  + stars: | 2023-04-29 | by ( ) www.reuters.com   time to read: +1 min
BEIJING, April 29 (Reuters) - Chinese ride hailing giant Didi Global on Saturday reported a 19% year-on-year fall in 2022 revenue, as the country’s COVID lockdowns and a regulatory crackdown took a toll. Net loss attributable to Didi Global narrowed to 23.78 billion yuan in 2022, compare with the net loss of 49.34 billion yuan in 2021, helped by factors such as investment gains, the report said. Its China mobility business swung to a loss in 2022, though Didi said it has returned to growth this year, citing a rapid recovery in travel across China after the ending of COVID curbs. Its net loss for 2022 included the $1.2 billion fine. ($1 = 6.9110 Chinese yuan renminbi)Reporting by Albee Zhang and Brenda Goh; Editing by Lincoln Feast.
☆ China lifts ban on ride-hailing giant Didi's new user registration -company statement
  + stars: | 2023-01-16 | by ( ) www.reuters.com   time to read: +1 min
Jan 16 (Reuters) - China's ride hailing giant Didi Global said in a statement on Monday it would be allowed to resume new user registration, after a more than year-long ban that curbed its growth. The company would take effective measures to ensure platform safety and data security, and safeguard national cyberspace security, it said in the statement. Didi has been awaiting approval to resume new user registrations and downloads of its 25 banned apps in China as a key step to a return to normal business since its regulatory troubles started in mid-2021. Didi will need its ride-hailing and other apps to be back on domestic app stores to win new users, though the statement did not specifically mention it. Reporting by Yingzhi Yang and Julie Zhu; Editing by Kim Coghill and Tom HogueOur Standards: The Thomson Reuters Trust Principles.
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