Chinese Regulators Rein in Jack Ma’s Alibaba and Ant Group

Alibaba founder Jack Ma has long been celebrated in China for his successful entrepreneurship that has made him that country’s richest individual. More recently, however, his troubles with the Chinese government led that country’s media to dub him an “evil capitalist” and “bloodsucking ghost.” Last week, China opened an antitrust probe into Alibaba and is investigating Ant Group, a fintech company Ma spun out of Alibaba. After nixing that company’s IPO, China is now telling Ma to fix its many perceived flaws. Continue reading Chinese Regulators Rein in Jack Ma’s Alibaba and Ant Group

Chinese Researchers Create Quantum Computing Benchmark

China’s top quantum research group said its Jiuzhang quantum computer produced results in minutes that would take 2+ billion years by the world’s No. 3 powerful supercomputer. That exceeds Google’s prototype quantum computer which, last year, came up with a result in minutes that it estimated would take a supercomputer 10,000 years. The two quantum computers work differently: China’s University of Science and Technology’s computer manipulates photons, whereas Google’s builds quantum circuits via super-cold superconducting metal. Continue reading Chinese Researchers Create Quantum Computing Benchmark

Global Competition Ramps Up in the Semiconductor Industry

In light of the U.S. ban on selling chips and chipmaking technology to China, that country has raised $38 billion so far this year with the goal of achieving self-sufficiency. According to S&P Global Market Intelligence, that number — achieved through public offerings, private placements and asset sales — is “more than double” the total raised in 2019. Corporate registration tracker Tianyancha stated that 50,000+ Chinese businesses related to semiconductors registered this year, four times the total five years ago. Meanwhile, Seoul-based Samsung is investing heavily in its own next-generation chip business, ramping up competition in the semiconductor sector. Continue reading Global Competition Ramps Up in the Semiconductor Industry

Biden Administration to Face China’s Push for Tech Hegemony

When president-elect Joe Biden takes office, one challenge he will face is China’s aim to dominate technology. President Trump’s efforts to limit China’s abilities have only partially succeeded and, in fact, may have even accelerated the nation’s development in AI, 5G, biotechnology and chipmaking. China is already ahead of the United States in 5G. Experts say the U.S. should more forcefully confront China on issues including market access, forced technology transfers and human rights. Continue reading Biden Administration to Face China’s Push for Tech Hegemony

China to Invest $1.4 Trillion in Domestic Technology by 2025

To gain global leadership, Chinese president Xi Jinping plans to invest $1.4 trillion dollars by 2025 in key technology areas, including 5G wireless networks, cameras and sensors, and AI for autonomous vehicles, automated factories and mass surveillance among other sectors. Chinese companies such as Alibaba, Huawei Technologies and SenseTime Group will likely benefit, as China reduces its reliance on U.S. companies. The Trump administration is leveraging its relationship with Taiwan as one way to fight back. Continue reading China to Invest $1.4 Trillion in Domestic Technology by 2025

G20 Summit: President Trump Partially Lifts Ban on Huawei

At the Group of 20 meeting in Osaka, Japan, President Trump stated that U.S. products can again be sold to Huawei Technologies, allowing the Chinese tech company to buy the U.S. components it needs to stay afloat. Trump added, however, that his move does not lift the ban on goods related to national security. Much of the U.S. concern about Huawei has centered on claims that its products are security risks, and the Commerce Department has been hesitant to remove Huawei from its blacklist. Today, commerce secretary Wilbur Ross said the U.S. will issue licenses for companies wanting to do business with Huawei as long as there is no threat to national security. Continue reading G20 Summit: President Trump Partially Lifts Ban on Huawei

Ahead of G20, U.S. Adds Chinese Tech Entities to Blacklist

In advance of a meeting between President Trump and President Xi Jinping during the G20 summit in Japan, the Commerce Department added four Chinese companies and one Chinese institute to a blacklist that prevents them from buying U.S. tech products without a waiver. Those “entities” are Sugon (a leading supercomputer manufacturer); microchip makers Higon (AMD’s Chinese joint-venture partner), Chengdu Haiguang Integrated Circuit and Chengdu Haiguang Microelectronics Technology; and the Wuxi Jiangnan Institute of Computing Technology. Huawei was added to the list in May. Continue reading Ahead of G20, U.S. Adds Chinese Tech Entities to Blacklist

U.S., China Advance Negotiations on Trade, Cybersecurity

U.S. and China just held a meeting to resolve several issues that have risen to the forefront in their yearlong trade dispute. The Trump administration is pushing China to lift restrictions that make it difficult for U.S. companies to operate there. U.S. businesses also chafe against China’s cybersecurity laws that require them to store data in China and rely on Chinese network equipment. Although these topics have not been on the negotiating table, China has recently made it clear it is willing to discuss them. Continue reading U.S., China Advance Negotiations on Trade, Cybersecurity

Chinese, Iranian, Russian Hackers Honing Their Attack Skills

The National Security Agency and security firm FireEye recently detected extensive attacks by Iran on U.S. banks, businesses and government agencies, prompting the Department of Homeland Security to declare an emergency during the government shutdown. The attacks from Iran took place at the same time that China renewed its efforts to steal trade and military secrets, from Boeing, General Electric Aviation and T-Mobile. Meanwhile, Microsoft detected a Russian government operation targeting think tanks critical of Russia. Continue reading Chinese, Iranian, Russian Hackers Honing Their Attack Skills

U.S. Restricts Business Interaction With Chinese Chipmaker

The U.S. Commerce Department announced yesterday that it plans to restrict American companies from doing business with semiconductor startup Fujian Jinhua Integrated Circuit Co. Micron Technology has accused the state-owned Chinese chipmaker of stealing company secrets, which has raised concerns regarding national and economic security. The restriction will prevent U.S. firms from selling software and goods to Jinhua, which relies on U.S. technology to build its chips. The announcement is the latest in an ongoing battle with China over intellectual property issues. Continue reading U.S. Restricts Business Interaction With Chinese Chipmaker

U.S. Commerce Department Lifts Trade Ban on China’s ZTE

Following a deal made by President Trump, the U.S. Commerce Department has given the go-ahead to Chinese telecom company ZTE to resume its commercial relations with U.S. suppliers. ZTE was told the ban would be lifted once the company placed $400 million into an escrow account and paid a $1 billion fine, part of the penalty the Department had imposed on ZTE for breaking an earlier agreement to not sell to Iran and North Korea. ZTE’s failure to make good on this agreement led the Commerce Department to ban U.S. companies from selling to the Chinese company. Continue reading U.S. Commerce Department Lifts Trade Ban on China’s ZTE

Federal Government Makes Deal to Put ZTE Back in Business

The Trump administration has reportedly reached an agreement that would keep Chinese telecom equipment manufacturer ZTE in business. The deal requires that ZTE pay a major fine, make management changes, and place U.S. compliance officers at the company. ZTE had earlier announced it would cease operations after the White House banned it from buying U.S. tech components in response to ZTE violating U.S. sanctions against North Korea and Iran. The new agreement would permit ZTE to resume its business with Qualcomm and other U.S. companies. Continue reading Federal Government Makes Deal to Put ZTE Back in Business

U.S., China Reportedly Working on Deal That Would Save ZTE

Less than a month ago, the U.S. Commerce Department sanctioned U.S. firms from supplying components to Chinese firm ZTE, claiming that the telecom equipment company had violated terms of a settlement regarding sales to Iran and North Korea. By last week, ZTE had closed its operations and, now, in a surprise intervention, President Donald Trump is stepping in to prevent ZTE’s bankruptcy, tweeting that he is working with Chinese President Xi Jinping. ZTE had made a request for a stay of the sanctions order, and the Commerce Department is reviewing it. Continue reading U.S., China Reportedly Working on Deal That Would Save ZTE

ZTE Ceases Main Operations in Response to U.S. Sanctions

Chinese telecom equipment and systems company ZTE, which has about $17 billion in annual revenue, has ceased “major operating activities” in the wake of the Trump administration’s ban on it using U.S.-made components for the next seven years. Trading in its shares has been suspended for weeks, and its workers in the Shenzhen factory have little to do but attend occasional training sessions. New guidelines tell its staff to reassure clients, but not discuss the details of the U.S. technology the company is currently banned from using. Continue reading ZTE Ceases Main Operations in Response to U.S. Sanctions

Xiaomi Plans Hong Kong IPO, China Reins In Tech Companies

Chinese smartphone manufacturer Xiaomi plans to launch its IPO in Hong Kong in what is anticipated to be the world’s biggest IPO in 2018. The filing with the Hong Kong stock exchange did not reveal the size or projected valuation of the offering, but sources say the company hopes to raise at least $10 billion. A source also reported that the listing will value the company at “less than the $100 billion figure previously suggested.” Xiaomi’s filing also uncovered some financial details for the first time. Continue reading Xiaomi Plans Hong Kong IPO, China Reins In Tech Companies

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