Chinese firms
The EU will not ban Chinese telecom giant Huawei or any other company in Europe, a top official says, despite intense pressure from Washington to shun the firm over spying fears.
The European Commission, the EU's executive arm, will officially unveil recommendations to member states on Wednesday, but commissioner Thierry Breton told MEPs that Brussels will choose tight scrutiny over any blanket ban.
"It is not a question of discrimination, it is a question of laying down rules. They will be strict, they will be demanding and of course we will welcome in Europe all operators who are willing to apply them," he says.
— AFP
Huawei dismisses Washington's three-month delay to a ban on US firms selling to the Chinese tech giant and says the decision would not change the fact it had been "treated unjustly."
The US Commerce Department effectively suspended for a second time tough rules stopping the sale of components and services to the telecoms titan and a prohibition on buying equipment from it.
However, it also said it would add 46 more companies to its list of Huawei subsidiaries and affiliates that would be covered by the ban if it is implemented in full — taking the total on the list to more than 100.
The original ban was announced earlier this year by US authorities who claim it provides a backdoor for Chinese intelligence services — something the firm denies. — AFP
Huawei's revenue jumps by 23% in the first half of the year, the company says, as the Chinese telecom giant shrugged off US sanctions.
Sales reached 401.3 billion yuan ($58.3 billion) in the first six months of the year, says the company, which was placed on a US blacklist in May.
Shares related to a Chinese property tycoon plunge for a second day on Thursday after his arrest for suspected child molestation, in a case that sparked anger over an apparently botched attempt to censor the affair.
Police in Shanghai announced Wednesday that a man had been arrested on suspicion of sexually abusing a nine-year-old girl.
Chinese media reports subsequently confirmed that the man was Wang Zhenhua, 57-year-old billionaire chairman of Seazen Holdings.
Hong Kong-listed shares in a pair of companies linked to Wang, Future Land Holdings and Xinchengyue, have since plunged around 30%.
Britain has identified "significant" issues in Chinese giant Huawei's engineering processes that pose "new risks" for the nation's telecommunications, a government report finds.
"Further significant technical issues have been identified in Huawei's engineering processes, leading to new risks in the UK telecommunications networks," read findings from the government's Huawei Cyber Security Evaluation Centre Oversight Board.
Here are updates on Chinese businesses and the global economy.
- Latest
- Trending
