DIRS.INFO The most relevant business & tech news

☆ As the Year of the Dragon begins, the pros name sectors — and stocks — to play the Chinese market
▼ + stars: | 2024-02-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +6 min

Chinese stocks had an eventful week last week — with the benchmark Shanghai Composite Index hitting a five-year low of about 2,650 points on Feb. 5, before edging up to end the week at 2,865.90. A slide in Hong Kong-listed Chinese shares on Feb. 9, however, proved that investors may still have lingering concerns on the prospects of Chinese stocks in the new year. As the festive season gets underway, Redmond Wong, market strategist at investment firm Saxo, sees several opportunities to play the market. Boom in green transformation Beyond the traditional sectors, Saxo's Wong is watching an up-and-coming area in China: energy security and a green transformation. Data from the International Energy Agency shows that the Asian giant's clean-energy sectors contributed 11.4 trillion Chinese yuan ($1.6 trillion) to the Chinese economy in 2023, up 30% year-on-year.

Persons: Redmond Wong, Saxo, I'm, Wong, Saxo's Wong, Morningstar, Zijin Organizations: CNBC Pro, Monetary Fund, Technology, Shenzhen, Baidu, Sands, Tsingtao, Morningstar, Tsingtao Brewery, International Energy Agency, Companies, Zijin Mining Locations: Shanghai, Hong Kong, China, Zhejiang, Sands China, Macao, Shandong

☆ China Says It Opposes and Cracks Down on All Forms of Cyberattacks
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

MANILA (Reuters) - The Chinese government does not tolerate any form of cyberattacks and will not allow any country or individual to engage in such illegal activities using Chinese infrastructure, its embassy in the Philippines said. It made the assurances after the Philippines on Monday said that hackers from China last month attempted to break into government websites, including President Ferdinand Marcos Jr's personal website, but failed. Manila did not say the hackers were linked to any state, but said they were found to be using the services of Chinese state-owned company Unicom. "The Chinese government all along firmly opposes and cracks down on all forms of cyber attack in accordance with law, allows no country or individual to engage in cyber attack and other illegal activities on Chinese soil or using Chinese infrastructure," a spokesperson at the Chinese Embassy in Manila said late on Monday. The Philippines is currently working on a five-year cybersecurity strategy to beef up its cyber defences.

Persons: Ferdinand Marcos Jr's, Unicom, Neil Jerome Morales, Raju Gopalakrishnan Organizations: Embassy Locations: MANILA, Philippines, China, Manila

☆ Philippines Wards off Cyber Attacks From China-Based Hackers
▼ + stars: | 2024-02-05 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

MANILA (Reuters) - Hackers operating in China attempted to break into websites and e-mail systems of the Philippine's president and government agencies, one promoting maritime security, but failed, an information and communications ministry official said on Monday. But using the internet protocol addresses, we pinpointed it to China," Paraiso said, adding the hackers were traced to be using the services of Chinese state-owned Unicom. "We are appealing to the Chinese government to help us prevent further attacks." The thwarted cyber attacks came at a time of heightened tensions with China, largely over disputed territory in the South China Sea. The Philippines is currently working on a five-year cybersecurity strategy to beef up its cyber defences to combat attacks and digital crimes.

Persons: Ferdinand Marcos Jr, DICT, Renato Paraiso, Paraiso, Neil Jerome Morales, Michael Perry Organizations: Department of Information, Communications Technology, National Coast Watch, Philippine Locations: MANILA, China, China's, Manila, South China, Philippines

☆ A celebrity chef is getting canceled for making a video about egg fried rice close to the 63rd death anniversary of Mao Zedong's son
▼ + stars: | 2023-12-01 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

A Chinese celebrity chef is facing backlash over an egg fried rice tutorial he posted on Monday. Nationalists believe egg fried rice is a reference to an unconfirmed story of how Mao Anying died. Per the story, he stole eggs from the camp's supplies and cooked himself egg fried rice in broad daylight — a violation of army rules at the time. Critics of the Mao regime post photos of egg fried rice or make a point to eat the dish on this day. "Do ordinary folk eating egg fried rice have to skip a day?"

Persons: Wang Gang, Mao Zedong's, Mao Anying, —, Wang, influencer, Mao Organizations: Communist, Service, Communist Party, China Digital Times, Daily, Wang Locations: China, Weibo, Korea, North Korea, Jiangsu, Nanchang, US

☆ US FCC chair says China's Quectel, Fibocom may pose national security risks
▼ + stars: | 2023-09-06 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Jonathan Newton/Pool via REUTERS Acquire Licensing RightsWASHINGTON, Sept 6 (Reuters) - Federal Communications Commission Chairwoman Jessica Rosenworcel asked U.S. government agencies to consider declaring that Chinese companies including Quectel (603236.SS) and Fibocom Wireless (300638.SZ) pose unacceptable national security risks, according to letters seen by Reuters. Federal funds cannot be used to purchase equipment from companies on the list, and the FCC will not authorize new equipment from companies deemed national security threats. Rosenworcel wrote the FBI, the Justice Department, the National Security Agency, the Defense Department and other agencies on Sept. 1, forwarding the request from the lawmakers. She added the FCC can update the Covered List "only at the direction of national security authorities." Last year the FCC voted to revoke China Unicom’s U.S. unit, Pacific Networks and ComNet’s authorization to operate in the United States, citing national security concerns.

Persons: Jessica Rosenworcel, Jonathan Newton, Mike Gallagher, Krishnamoorthi, Rosenworcel, David Shepardson, Jonathan Oatis, David Gregorio Our Organizations: U.S . Senate Commerce, Science, Transportation Committee, Federal Communications Commission, REUTERS Acquire, Rights, Federal Communications, U.S, Fibocom Wireless, Reuters, Republican, China, FCC, FBI, Justice Department, National Security Agency, Defense Department, Huawei, ZTE, Hytera Communications Corp, Hangzhou Hikvision Digital Technology, Zhejiang Dahua Technology, Pacific Networks, Embassy, Thomson Locations: Washington , U.S, Quectel, Hangzhou, Zhejiang, China, U.S, United States, Washington

☆ Two US lawmakers raise security concerns about Chinese cellular modules
▼ + stars: | 2023-08-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Jonathan Newton/Pool via REUTERS/File PhotoWASHINGTON, Aug 8 (Reuters) - Two U.S. lawmakers on Tuesday asked the Federal Communications Commission (FCC) to address questions about potential security concerns involving cellular modules made by Chinese companies including Quectel (603236.SS) and Fibocom Wireless (300638.SZ). Cellular modules are components that enable internet of things (IoT) devices to connect to the internet. The lawmakers asked if the FCC is considering using the Covered List to address Chinese-owned cellular modules. "Could requiring certification for modules used in communications equipment be an effective means" of addressing Chinese modules in U.S. networks? In 2022, the Chinese Embassy in Washington said the FCC "abused state power and maliciously attacked Chinese telecom operators again without factual basis."

Persons: Jessica Rosenworcel, Jonathan Newton, Mike Gallagher, Raja Krishnamoorthi, David Shepardson, Mark Porter, Leslie Adler Organizations: U.S . Senate Commerce, Science, Transportation, Federal Communications Commission, Tuesday, Fibocom Wireless, Republican, China, FCC, Pacific Networks Corp, HK, Huawei Technologies, ZTE Corp, Hytera Communications Corp, Hangzhou Hikvision Digital Technology, Zhejiang Dahua Technology, Embassy, Huawei, Thomson Locations: Washington , U.S, Quectel, China, Hangzhou, Zhejiang, Washington

HONG KONG, July 18 (Reuters) - China plans to appoint the CEO of state-owned telecoms giant China Unicom (0762.HK), (600050.SS), Liu Liehong, as the head of its new national data bureau, four sources said, putting him in charge of efforts to make the country a digital superpower. China announced plans for the data bureau in March as part of a sweeping government reshuffle. Its formation is part of efforts to achieve President Xi Jinping's vision of a "digital China", where data is managed alongside labour and capital as a key economic driver. China's internet regulator, the Cyberspace Administration of China (CAC), will also transfer some staff to the data bureau, said one source. "Whether Mr. Liu Liehong will take up any role in the National Data Bureau shall be subject to the decision of the PRC government," it added.

Persons: Liu Liehong, Liu, Xi, China Unicom, Julie Zhu, Kevin Huang, Jane Xu, Brenda Goh, Sam Holmes Organizations: HK, National Data Bureau, Reuters, China, Tech Development Department, Cyberspace Administration of China, CAC, Information Office, National, Bureau, China Electronics Technology Group Corporation, Ministry of Industry, Information Technology, Communist Party, Committee, Thomson Locations: HONG KONG, China, Hong Kong, Chengdu, Sichuan province

As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards. New fund launches will potentially channel money into China's technology and chipmaking leaders, including ZTE Corp (000063.SZ), Unisplendour Co (000938.SZ), Montage and Cambricon Technologies (688256.SS). Cutting-edge innovation requires huge and long-term investment, which is beyond the ability of private companies, "but SOEs can do it," Yang said. For example, China's chipmaking sector is now trading at 60 times earnings, compared with 16 for the broad market. But "China needs high valuation in some sectors ... Why don't you put down your wager, while also supporting the country's development?"

The return of tourists to Southeast Asia, he says, bodes well for the group’s core mobility business in the second half. The next challenge is resetting investor expectations so that beats can shine through. Lower incentives helped it to cut its adjusted operating loss to $66 million from $287 million a year ago. It also narrowed its forecast for annual adjusted operating loss to $195 million-$235 million, from a previous forecast of $275 million-$325 million. China’s Alibaba on May 18 reported revenue of 208 billion yuan ($30.1 billion) in the three months to end-March, up 2% year-on-year.

☆ Exclusive: China plans $500 million subsea internet cable to rival US-backed project
▼ + stars: | 2023-04-06 | by ( Joe Brock | ) www.reuters.com time to read: +10 min

China's three main carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd(China Unicom) – are mapping out one of the world’s most advanced and far-reaching subsea cable networks, according to the four people, who have direct knowledge of the plan. They said HMN Tech, which is majority-owned by Shanghai-listed Hengtong Optic-Electric Co Ltd, would receive subsidies from the Chinese state to build the cable. China Mobile, China Telecom, China Unicom, HMN Tech, and Hengtong did not respond to requests for comment. The consortium on the SeaMeWe-6 cable – which originally had included China Mobile, China Telecom, China Unicom and telecom carriers from several other nations – initially picked HMN Tech to build that cable. China Telecom and China Mobile pulled out of the project after SubCom won the contract last year and, along with China Unicom, began planning the EMA cable, the four people involved said.

☆ Exclusive: China plans $500 mln subsea internet cable to rival U.S.-backed project
▼ + stars: | 2023-04-06 | by ( Joe Brock | ) www.reuters.com time to read: +10 min

China's three main carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd(China Unicom) – are mapping out one of the world’s most advanced and far-reaching subsea cable networks, according to the four people, who have direct knowledge of the plan. They said HMN Tech, which is majority-owned by Shanghai-listed Hengtong Optic-Electric Co Ltd, would receive subsidies from the Chinese state to build the cable. China Mobile, China Telecom, China Unicom, HMN Tech, Hengtong and China’s Foreign Ministry did not respond to requests for comment. The consortium on the SeaMeWe-6 cable – which originally had included China Mobile, China Telecom, China Unicom and telecom carriers from several other nations – initially picked HMN Tech to build that cable. China Telecom and China Mobile pulled out of the project after SubCom won the contract last year and, along with China Unicom, began planning the EMA cable, the four people involved said.

☆ FCC proposes rules to reassess foreign-owned US telecom services authority
▼ + stars: | 2023-03-29 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 29 (Reuters) - The head of the Federal Communications Commission (FCC) on Wednesday proposed new rules to periodically reassess existing authorizations for foreign-owned companies to provide telecommunications services in the United States. The U.S. telecommunications regulator has raised mounting concerns about Chinese telecom companies in recent years which had won permission to operate in the United States decades ago. In 2019, the FCC voted to deny state-owned Chinese telecom firm China Mobile Ltd (0941.HK) the right to provide U.S. services and later withdrew U.S. authorizations for several other Chinese telecom carriers including China Telecom Corp (0728.HK). Rosenworcel said: "It is so important to have the agency regularly review foreign companies’ authorizations to providetelecommunications services in the United States." In December, a federal appeals court rejected China Telecom's challenge to the FCC order withdrawing the company's authority to provide services in the United States.

☆ U.S. and China wage war beneath the waves – over internet cables
▼ + stars: | 2023-03-24 | by ( ) www.reuters.com time to read: +28 min

Three of China’s state-owned carriers – China Telecommunications Corporation (China Telecom), China Mobile Limited and China United Network Communications Group Co Ltd (China Unicom) – had committed funding as members of the consortium, which also included U.S.-based Microsoft Corp and French telecom firm Orange SA, according to six people involved in the deal. China Telecom, China Mobile, China Unicom and Orange did not respond to requests for comment. China Telecom, China Mobile and China Unicom were resolutely behind HMN Tech, which had come in with a bid of around $500 million. China Telecom and China Mobile threatened to walk off the project, taking tens of millions of dollars of investment with them. Among them is China Telecom, which had previously won authorization to provide services in the United States.

☆ Appeals court rejects China Telecom bid to reverse U.S. ban
▼ + stars: | 2022-12-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, Dec 20 (Reuters) - A federal appeals court on Tuesday rejected China Telecom Corp's (0728.HK) challenge to a Federal Communications Commission order withdrawing the company's authority to provide services in the United States. A three-judge panel of the U.S. Court of Appeals for the District of Columbia rejected the bid by the U.S. arm of China Telecom to reverse the order that took effect in January. The FCC said in 2021 that China Telecom (Americas) "is subject to exploitation, influence and control by the Chinese government." A lawyer for China Telecom (Americas) and the FCC did not immediately comment. China Telecom had argued the FCC violated its rules by refusing to hold a hearing before revoking China Telecom (Americas)’ domestic and international common-carrier authorizations.

☆ Appeals court rejects China Telecom bid to reverse US ban
▼ + stars: | 2022-12-20 | by ( ) edition.cnn.com time to read: +2 min

A federal appeals court on Tuesday rejected China Telecom Corp’s challenge to a Federal Communications Commission order withdrawing the company’s authority to provide services in the United States. A three-judge panel of the US Court of Appeals for the District of Columbia rejected the bid by the US arm of China Telecom to reverse the order that took effect in January. The FCC said in 2021 that China Telecom (Americas) “is subject to exploitation, influence and control by the Chinese government.”A lawyer for China Telecom (Americas) did not immediately comment. In 2019, the FCC voted to deny state-owned Chinese telecom firm China Mobile Ltd the right to provide US services and later withdrew US authorizations for several Chinese telecom carriers. China Telecom had argued the FCC violated its rules by refusing to hold a hearing before revoking China Telecom (Americas)’ domestic and international common-carrier authorizations.

☆ China Unicom to delete users' mobile travel data in COVID-hit areas
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Dec 12 (Reuters) - Chinese state-owned telecom giant China Unicom (0762.HK) said on Monday it will delete users' mobile itinerary data previously used to identify travellers in COVID-stricken areas from Dec. 13. The statement comes as China announced the shutdown of the state-mandated mobile app tracking travellers in COVID-hit regions from the same date. Reporting by Hong Kong newsroom, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Tencent and China Unicom gain approval to set up 'mixed ownership' company
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

HONG KONG, Nov 2 (Reuters) - Chinese tech giant Tencent Holdings (0700.HK) and state-owned telecommunications firm China Unicom (600050.SS) have received regulatory approval to set up a so-called "mixed ownership" company, a public document showed on Wednesday. China has been accelerating its push for mixed-ownership reforms in an effort to boost the competitiveness of state firms. Shares in China Unicom surged 10% in Shanghai, forcing a temporary suspension of trade. Trade in its Hong Kong-listed shares (0762.HK) had ended before the news emerged as the stock market there was closed early due to a typhoon. The State Administration for Market Regulation approved the application, according to a list it published.

☆ U.S. FCC set to ban approvals of new Huawei, ZTE equipment- document
▼ + stars: | 2022-10-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 13 (Reuters) - The U.S. Federal Communications Commission is set to ban approvals of new telecommunications equipment from China's Huawei Technologies and ZTE (000063.SZ) in the United States on national security grounds, according to a document posted by the agency. The companies would not be able to sell new equipment in the United States without equipment authorizations. In June 2021, the FCC voted to advance the plan to ban approvals for equipment in U.S. telecommunications networks from Chinese companies deemed national security threats, including Huawei and ZTE. ... We have left open opportunities for (Huawei and other Chinese equipment) use in the United States through our equipment authorization process. The FCC action would prohibit all future authorizations for communications equipment deemed to pose an unacceptable risk to national security.

☆ U.S. agency adds China Unicom, Pacific Networks to national security threat list
▼ + stars: | 2022-09-20 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

REUTERS/Andrew KellySept 20 (Reuters) - The U.S. Federal Communications Commission (FCC) named Chinese telecom companies Pacific Networks Corp, its wholly-owned subsidiary ComNet (USA) LLC and China Unicom (Americas) as threats to U.S. national security, the regulator said Tuesday. The designations are under a 2019 law aimed at protecting U.S. communications networks. The FCC said the companies are subject to the Chinese government's exploitation, influence and control, along with the associated national security risks. Earlier this year, the U.S. regulator voted to revoke China Unicom's U.S. unit, Pacific Networks and ComNet's authorization to operate in the United States, citing national security concerns. In March, the FCC added Russia's AO Kaspersky Lab, China Telecom (Americas) Corp (0728.HK) and China Mobile International USA (0941.HK) to the covered list.

Search resuls for: "Unicom"

19 mentions found