Alibaba seeks stock split to boost available shares ahead of reported Hong Kong listing

Alibaba is looking to carry out a stock split, a move it says could help with further fundraising activities. Under the proposal, the Chinese e-commerce giant will split one ordinary share into eight. That would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. If approved, the stock split will go into effect no later than July 15, 2020, Alibaba said. Alibaba is reportedly looking into an initial public offering in Hong Kong which could raise a


Alibaba is looking to carry out a stock split, a move it says could help with further fundraising activities. Under the proposal, the Chinese e-commerce giant will split one ordinary share into eight. That would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion. If approved, the stock split will go into effect no later than July 15, 2020, Alibaba said. Alibaba is reportedly looking into an initial public offering in Hong Kong which could raise a
Alibaba seeks stock split to boost available shares ahead of reported Hong Kong listing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: arjun kharpal
Keywords: news, cnbc, companies, shares, ordinary, alibaba, number, increase, seeks, hong, statement, stock, listing, reported, kong, share, available, split, subdivision, boost


Alibaba seeks stock split to boost available shares ahead of reported Hong Kong listing

Alibaba is looking to carry out a stock split, a move it says could help with further fundraising activities.

Under the proposal, the Chinese e-commerce giant will split one ordinary share into eight. That would mean the current number of ordinary shares — which stands at 4 billion — will increase to 32 billion.

Shareholders will need to vote on this at the company’s annual general meeting on July 15 in Hong Kong. If approved, the stock split will go into effect no later than July 15, 2020, Alibaba said.

Alibaba is reportedly looking into an initial public offering in Hong Kong which could raise as much as $20 billion.

“The Board of Directors is proposing the Share Subdivision to increase the flexibility for the Company in future capital market activities,” Alibaba said in a statement on Monday.

“Among other reasons, the one-to-eight share subdivision will increase the number of shares available for issuance at a lower per share price, and the Board of Directors believes that this will increase flexibility in the Company’s capital raising activities, including the issuance of new shares,” the statement added.


Company: cnbc, Activity: cnbc, Date: 2019-06-17  Authors: arjun kharpal
Keywords: news, cnbc, companies, shares, ordinary, alibaba, number, increase, seeks, hong, statement, stock, listing, reported, kong, share, available, split, subdivision, boost


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Huawei delays foldable phone launch until September to do extra tests after Samsung’s troubles

Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device. The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. Huawei’s spokesperson said the compa


Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device. The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. Huawei’s spokesperson said the compa
Huawei delays foldable phone launch until September to do extra tests after Samsung’s troubles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, samsung, foldable, launch, extra, galaxy, samsungs, troubles, mate, mobile, tests, huawei, company, phone, delays, spokesperson


Huawei delays foldable phone launch until September to do extra tests after Samsung's troubles

Huawei said its foldable phone will launch in September, slightly later than it was reportedly set to, as it does extra tests following the debacle Samsung went through with its rival device.

A spokesperson for the Chinese technology giant told CNBC on Friday that the company is trying to launch the Huawei Mate X globally, focusing on markets that are rolling out next-generation mobile networks known as 5G. The Mate X, which starts at around 2,299 euros or roughly $2,600, is a 5G-capable device.

The Mate X was unveiled in February but has yet to go on sale. Huawei had initially targeted a mid-2019 launch date and in April, Chinese media reported that it was looking at June. But the spokesperson confirmed the official launch will take place in September. He said that the company was doing extra testing with mobile carriers around the world and developers to make sure their apps work when the device is fully unfolded.

Huawei’s spokesperson said the company was more “cautious” after Samsung’s foldable device, the Galaxy Fold, began to break when tested by reviewers in April. Samsung and some of the carriers selling the Galaxy Fold have canceled pre-orders that consumers had already placed.


Company: cnbc, Activity: cnbc, Date: 2019-06-14  Authors: arjun kharpal
Keywords: news, cnbc, companies, samsung, foldable, launch, extra, galaxy, samsungs, troubles, mate, mobile, tests, huawei, company, phone, delays, spokesperson


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China gives green light for local 5G rollout amid tech tensions with US

The country’s Ministry of Industry and Information Technology on Thursday issued 5G commercial licenses to China Telecom, China Mobile, China Unicom and China Radio and Television. China will, according to the association, account for the largest number of 5G connections in 2025, greater than North America and Europe combined. The GSMA expects China to reach 460 million 5G connections by the end of that year. If China begins rolling out 5G this year, it will be one of the first to do so. ‘Race t


The country’s Ministry of Industry and Information Technology on Thursday issued 5G commercial licenses to China Telecom, China Mobile, China Unicom and China Radio and Television. China will, according to the association, account for the largest number of 5G connections in 2025, greater than North America and Europe combined. The GSMA expects China to reach 460 million 5G connections by the end of that year. If China begins rolling out 5G this year, it will be one of the first to do so. ‘Race t
China gives green light for local 5G rollout amid tech tensions with US Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: arjun kharpal
Keywords: news, cnbc, companies, tensions, 5g, rollout, amid, end, rolling, local, tech, gives, china, technology, mobile, light, green, trade, war, huawei, chinese


China gives green light for local 5G rollout amid tech tensions with US

An illuminated 5G sign hangs behind a weave of electronic cables on the opening day of the MWC Barcelona in Barcelona, Spain, on Monday, Feb. 25, 2019. Angel Garcia | Bloomberg | Getty Images

China has given the go ahead for its major state-owned mobile carries to start rolling out next generation networks known as 5G, a move experts said was partly a response to the ongoing trade war with the U.S. The country’s Ministry of Industry and Information Technology on Thursday issued 5G commercial licenses to China Telecom, China Mobile, China Unicom and China Radio and Television. It means those carriers can start rolling out commercial 5G applications. They were given a license for testing at the end of last year. The 5G networking standard is seen as a critical because it can support the next generation of mobile devices in addition to new applications like driverless cars.

Even though the licenses have been issued, there’s no guarantee that the networks will begin rolling out 5G services immediately — though some companies have indicated that they will begin this year. The GSMA, a trade body that represents mobile networks globally, said in a recent report that it expects a wide scale rollout of 5G in 2020. China will, according to the association, account for the largest number of 5G connections in 2025, greater than North America and Europe combined. The GSMA expects China to reach 460 million 5G connections by the end of that year. If China begins rolling out 5G this year, it will be one of the first to do so. Some U.S. carries such as Verizon have rolled out 5G in a limited number of cities. Carriers in the U.K. and South Korea have also launched 5G services. China Unicom said in a statement released by the Hong Kong stock exchange that it would make “dynamic and precise investment in 5G construction” but did not give a timeline. The other carriers did not immediately respond to a request for comment when contacted by CNBC.

‘Race to 5G’

The move by China to grant the licenses comes amid growing tensions in the trade war with the U.S., which appears to be increasingly focusing on technology and 5G. Even U.S. President Donald Trump has suggested that the networking standard is a battleground: “The race to 5G is on and America must win,” he said earlier this year.

Trump’s administration has targeted Huawei, the world’s largest maker of telecom equipment, by putting the company on a blacklist that restricts its access to U.S. technology — on which it heavily relies. While China was initially eyeing a 5G rollout in 2020, Neil Shah, research director at Counterpoint Research, said the timeline looks “more aggressive now” with services likely to be launched later this year. “First and foremost, the tech cold war is going on, and China does not want to remain behind the U.S. and Korea,” Shah said, explaining why China may have sped up its 5G launch. “Second, in light of the Huawei trade ban, (Chinese officials) want to provide Huawei with an early base to use their equipment and roll out before they don’t have access to U.S. components and gear,” he added. “Huawei may have stocked for a few months to roll this out, accordingly, China will look to start rollout at the end of this year before Chinese New Year so they can use Chinese New Year to leverage 5G smartphone and 5G plans.” Chinese New Year is a major public holiday that will take place at the end of January 2020. —Additional reporting by CNBC’s Hilary Pan.


Company: cnbc, Activity: cnbc, Date: 2019-06-06  Authors: arjun kharpal
Keywords: news, cnbc, companies, tensions, 5g, rollout, amid, end, rolling, local, tech, gives, china, technology, mobile, light, green, trade, war, huawei, chinese


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Trump’s blacklisting of Huawei is hurting American chip firms

Components are displayed on a circuit board at the Qualcomm Inc. booth at the Mobile World Congress Shanghai in Shanghai, China, on Thursday, June 28, 2018. U.S. semiconductor stocks have been hit hard in the past month following President Donald Trump’s administration’s blacklisting of Huawei, which has raised the specter of wider restrictions to Chinese firms’ access to American technology. Semiconductors are one of America’s biggest tech exports and China is a crucial market because of the am


Components are displayed on a circuit board at the Qualcomm Inc. booth at the Mobile World Congress Shanghai in Shanghai, China, on Thursday, June 28, 2018. U.S. semiconductor stocks have been hit hard in the past month following President Donald Trump’s administration’s blacklisting of Huawei, which has raised the specter of wider restrictions to Chinese firms’ access to American technology. Semiconductors are one of America’s biggest tech exports and China is a crucial market because of the am
Trump’s blacklisting of Huawei is hurting American chip firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: arjun kharpal
Keywords: news, cnbc, companies, chinese, firms, blacklisting, shanghai, hit, american, trumps, china, month, world, hurting, huawei, permission, chip


Trump's blacklisting of Huawei is hurting American chip firms

Components are displayed on a circuit board at the Qualcomm Inc. booth at the Mobile World Congress Shanghai in Shanghai, China, on Thursday, June 28, 2018.

U.S. semiconductor stocks have been hit hard in the past month following President Donald Trump’s administration’s blacklisting of Huawei, which has raised the specter of wider restrictions to Chinese firms’ access to American technology.

Semiconductors are one of America’s biggest tech exports and China is a crucial market because of the amount of electronics manufacturers relying on U.S. chips.

Trump signed an executive order last month that gave permission to Commerce Secretary Wilbur Ross to block transactions that involve information or communications technology that “poses an unacceptable risk” to U.S. national security. Huawei was then put on a blacklist that requires American firms to get permission to sell to the Chinese networking equipment and smartphone giant.

The move has hit the businesses and share prices of U.S. chip firms.


Company: cnbc, Activity: cnbc, Date: 2019-06-05  Authors: arjun kharpal
Keywords: news, cnbc, companies, chinese, firms, blacklisting, shanghai, hit, american, trumps, china, month, world, hurting, huawei, permission, chip


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China is ramping up its own chip industry amid a brewing tech war. That could hurt US firms

That’s backed by tens of billions of dollars of investment from Beijing into the country’s chip industry. The US could feel the heatThe development of China’s own chip industry could hurt U.S. companies, according to ICWise’s Gu. China ‘a decade or two’ awayDespite all its advances, China’s semiconductor industry won’t overtake its competitors anytime soon. The chip designer recently suspended business with Huawei to comply with the U.S. blacklist of the Chinese firm. Other analysts projected th


That’s backed by tens of billions of dollars of investment from Beijing into the country’s chip industry. The US could feel the heatThe development of China’s own chip industry could hurt U.S. companies, according to ICWise’s Gu. China ‘a decade or two’ awayDespite all its advances, China’s semiconductor industry won’t overtake its competitors anytime soon. The chip designer recently suspended business with Huawei to comply with the U.S. blacklist of the Chinese firm. Other analysts projected th
China is ramping up its own chip industry amid a brewing tech war. That could hurt US firms Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: arjun kharpal
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China is ramping up its own chip industry amid a brewing tech war. That could hurt US firms

A Huawei Technologies Mate20 Pro smartphone displays an image of the company’s Kirin 980 chip. Krisztian Bocsi | Bloomberg | Getty Images

Government push

Beijing highlighted semiconductors as a key area of the Made in China 2025 plan, a government initiative that aims to boost the production of higher-value products. China aims to produce 40% of the semiconductors it uses by 2020 and 70% by 2025. That’s backed by tens of billions of dollars of investment from Beijing into the country’s chip industry.

Last month, the Chinese government also announced tax breaks for homegrown semiconductor companies and software developers. Currently, only 16% of the semiconductors used in China are produced in the country, and only half of those are made by Chinese firms, according to a report by the Center for Strategic and International Studies. In other words, the country is still reliant on foreign, largely American, technology. That fact, along with Beijing’s backing, has helped kick China’s tech companies into action. Huawei has its own “Kirin” series of processors for its smartphones and even a 5G modem that can allows devices to connect to the newest version of the mobile internet. Huawei’s chips are designed by its subsidiary HiSilicon, which has said it’s prepared for such a move by the U.S. and can weather the storm. China’s other technology giants are considering their own silicon. Smartphone maker Xiaomi told CNBC last year that it was exploring developing a chip that could power artificial intelligence products and Alibaba has begun work on its own AI processor. Design is one part of the puzzle in creating chips. The other is getting the manufacturing right. For example, Huawei’s chips are designed by HiSilicon — the largest semiconductor company in China, according to market research firm International Data Corporation — but then they’re manufactured by a separate company in Taiwan. There are signs, however, that China is even ramping up manufacturing of semiconductors. “I expect the current tension between the U.S. and China will only invigorate the spending in China on technology including software over the next five years,” said Mario Morales, program vice president for enabling technologies and semiconductors at IDC.

The US could feel the heat

The development of China’s own chip industry could hurt U.S. companies, according to ICWise’s Gu. He said the world’s second-largest economy could build closer ties to other countries like Japan and South Korea and create its own semiconductor “ecosystem” — in which America would play only a small part. “At present, the global industrial system is dominated by the United States, and there may be a parallel ecosystem … where the United States is not dominant. This is very unfavorable for the long-term development of the U.S. industry,” Gu told CNBC.

“If the United States blocks the Chinese industry for a long time, it will inspire China to lead another ecosystem, which in turn will be a long-term disadvantage to the U.S. semiconductor industry,” he added. Already some U.S. firms have reported worries about the potential results of Huawei being on the U.S. blacklist. Qorvo, a maker of radio frequency products, said sales to Huawei and its affiliates accounted for $469 million, or 15% of its total revenue, in the fiscal year that ended on March 30, 2019. It lowered its revenue outlook for the year, citing Washington’s actions against Huawei. Lumentum, another Huawei supplier, said sales to the Chinese firm accounted for 18% of total revenue for the three months that ended on March 30. Lumentum also revised its revenue guidance lower for the subsequent quarter.

China ‘a decade or two’ away

Despite all its advances, China’s semiconductor industry won’t overtake its competitors anytime soon. One of the biggest challenges for China will be finding and developing new suppliers if American firms remain off limits. For one, Huawei’s HiSilicon still relies on basic chip design from Softbank-owned Arm. Even though HiSilicon produces processors for its devices, the architecture is from the British firm. The chip designer recently suspended business with Huawei to comply with the U.S. blacklist of the Chinese firm. Huawei will need to find an alternative to Arm, which is the biggest chip design firm by market share. The next biggest companies are Synopsys and Cadence, but both are American and so are likely to be off limits for the Huawei unit, too. For Gu, that all adds up to China only closing the gap with the U.S. on semiconductors “within a decade or two.” Other analysts projected that more investment and an expanded talent pool may grow China’s semiconductor industry.

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Subscribe: By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: arjun kharpal
Keywords: news, cnbc, companies, chinese, tech, ramping, brewing, amid, chinas, semiconductor, china, war, hurt, chip, revenue, huawei, firms, firm, semiconductors, industry


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The hot trend in smartphones? Not buying a new one

Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 . “Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. When mobile phones firs


Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 . “Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. When mobile phones firs
The hot trend in smartphones? Not buying a new one Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: saheli roy choudhury arjun kharpal elizabeth schul, saheli roy choudhury, arjun kharpal, elizabeth schulze
Keywords: news, cnbc, companies, phone, phones, 5g, smartphone, london, internet, mobile, buying, hot, smartphones, trend, user, world, foldable


The hot trend in smartphones? Not buying a new one

Samsung , the world’s largest smartphone maker by shipment volume, earlier this year introduced the Galaxy Fold — a nearly $2,000 foldable smartphone that ran into early issues, which delayed its commercial release . Chinese phone maker Huawei, for its part, also announced a foldable phone that will cost around $2,600 .

But those flashy new features may not be enough to sway people to trade in their old phones immediately, as long as they’re in good condition.

The smartphone industry has a two-part plan to tackle a global slowdown in sales: sell a pricey new type of mobile device that is able to transform into a tablet, and promote phones that can support super high-speed mobile internet standard 5G.

CNBC’s “Beyond The Valley ” caught up with people on the streets of London, Singapore and Guangzhou, China to ask what they thought of foldable smartphones and the responses were not positive:

“It looks very strange,” according to a smartphone user in Guangzhou.

“It’s super bulky,” said a user in Singapore.

“Phones are supposed to be for calling, for texting and for being connected with the world,” a user in London said about her expectations for smartphones. “I don’t think that I really need to pay that much to have this because I can pay a lot less and still be satisfied.”

Market research firm International Data Corporation said that smartphone shipment volumes for the first quarter of 2019 fell 6.6% on-year after a 4.9% year-over-year decline in the fourth quarter of 2018.

Ben Wood, chief of research at CCS Insight, explained that all smartphone makers face “one over-arching problem” at the moment — their devices look pretty much the same and they have similar functionality. When mobile phones first came out, there was tremendous innovation both in hardware and software, but that’s not now the case, according to Wood.

“The marginal gains over the different generation of products started to slow down,” he added.

Smartphone makers are also betting on super-fast internet as an incentive to get more people to switch their existing devices for new ones that can support the so-called 5G mobile internet.

South Korea’s three mobile carriers as well as Verizon in the U.S. commercially launched their 5G services last month while other countries like China and Japan are racing to launch their own versions of the nascent technology. Still, widespread adoption of 5G will take time since most of the infrastructure around the world is still being built.

But there’s some enthusiasm among potential customers of 5G phones.

A user in Guangzhou said he would buy a 5G phone because it is “trendy” but it also has a “better internet system” that would let him do more, including video streaming.

“It just makes everything easier for us, like social media, streaming Netflix and stuff,” another user in London said.


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: saheli roy choudhury arjun kharpal elizabeth schul, saheli roy choudhury, arjun kharpal, elizabeth schulze
Keywords: news, cnbc, companies, phone, phones, 5g, smartphone, london, internet, mobile, buying, hot, smartphones, trend, user, world, foldable


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US takes aim at Chinese surveillance as the trade war becomes a tech war

Qilai Shen | Bloomberg | Getty ImagesChina and America’s trade war looks more and more like a tech war, and the United States appears to be widening its focus on to another category of Chinese technology: surveillance. Hikvision is just a small part of a sprawling ecosystem of Chinese surveillance technology at home — and which China increasingly exports to autocratic regimes around he world. The dataUnderpinning China’s surveillance network is data. Many of them have been actively involved in t


Qilai Shen | Bloomberg | Getty ImagesChina and America’s trade war looks more and more like a tech war, and the United States appears to be widening its focus on to another category of Chinese technology: surveillance. Hikvision is just a small part of a sprawling ecosystem of Chinese surveillance technology at home — and which China increasingly exports to autocratic regimes around he world. The dataUnderpinning China’s surveillance network is data. Many of them have been actively involved in t
US takes aim at Chinese surveillance as the trade war becomes a tech war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: arjun kharpal
Keywords: news, cnbc, companies, hikvision, takes, tech, war, chinas, technology, china, trade, chinese, company, aim, world, told, surveillance


US takes aim at Chinese surveillance as the trade war becomes a tech war

Surveillance cameras are mounted on a post at Tiananmen Square as snow falls in Beijing, China, on Thursday, Feb. 14, 2019. Qilai Shen | Bloomberg | Getty Images

China and America’s trade war looks more and more like a tech war, and the United States appears to be widening its focus on to another category of Chinese technology: surveillance. The U.S. may put Chinese surveillance equipment company Hikvision on a blacklist that would limit its ability to acquire American components — expanding the tech rivalry between the countries and even bringing attention to the ways China monitors its own people. Hikvision is one of the world’s largest makers of video surveillance products. If Washington goes ahead with the penalties, U.S. firms will be required to obtain a government license to sell equipment to Hikvision, the New York Times reported, citing people familiar with the matter. The Times noted that the Trump administration sees China as an economic and geopolitical threat, but added that there are concerns about China’s “extensive surveillance industry.” U.S. lawmakers last month cited intensive surveillance of a minority Muslim population in the western part of China as possibly constituting “crimes against humanity.” U.S. lawmakers made similar accusations last October.

China rejects criticism

China’s foreign ministry has said surveillance in the Xinjiang region is designed to ensure social stability. A Chinese state-controlled newspaper last week said U.S. efforts to link human rights with China-made technology show that the United States is “obsessed with impeding China’s development.” China’s Ministry of Public Security did not respond to a CNBC request for comment.

A Hikvision spokesperson told CNBC that the company “takes these concerns very seriously and has engaged with the U.S. government regarding all of this since last October.” The spokesperson added that it had hired a human rights expert to advise the company. Hikvision is just a small part of a sprawling ecosystem of Chinese surveillance technology at home — and which China increasingly exports to autocratic regimes around he world. At the heart of the project is technology. The 200 million surveillance cameras peppered around China are recording what’s going on, but in addition the systems have artificial intelligence (AI) technology that powers facial recognition. China’s facial recognition database includes almost every one of its 1.4 billion people. Government surveillance is a potentially important tech growth sector in China, a Credit Suisse analyst told CNBC in March.

“For example, quite a lot of AI companies in China, their biggest business is (the) public surveillance type (of business); that could be another area you could see rising,” Head of China Equity Strategy Vincent Chan told CNBC at the Credit Suisse Asian investment Conference in Hong Kong. Beijing has been vocal in stating that it intends to be the world leader in artificial technology in the near future. In turn, AI companies are springing up across the country and have now become some of the most valuable private firms in the world.

The data

Underpinning China’s surveillance network is data. Chinese nationals have unique identification cards, and law enforcement accumulates information about individuals, including things such as digital records of their faces. That helps AI algorithms identify and pinpoint an individual. People must register their ID cards in order to buy SIM cards. That means people’s phone numbers are linked to a government database. And when they sign up for services using their phone number, their real identity becomes known — trying to use online pseudonyms, for example, won’t give a person any anonymity. Authorities have been also collecting other biometric data, including voice samples of individuals, according to a 2017 report by Human Rights Watch. So far, the collection of data is far from centralized — meaning there is not yet one huge database. But the idea is to be able to connect various databases using advanced algorithms that are able to track down anyone at any time.

The role of multibillion-dollar tech firms

In 2017, China laid out its blueprint for becoming the world leader in artificial intelligence. The government has been pushing the development of that technology, which has led to the growth of firms that sell AI-driven products. Many of them have been actively involved in the construction of China’s surveillance state. SenseTime, which is reportedly worth over $4 billion, is one of those firms. It sells AI-powered facial recognition technology to police departments. Megvii, another company reportedly valued at around $4 billion, also sells its facial recognition technology to the government, according to Human Rights Watch.

Each morning, the “Beyond the Valley” newsletter brings you all the latest from the vast, dynamic world of tech – outside the Silicon Valley. Subscribe: By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

A SenseTime spokesperson said the company works with the Chinese government “on many smart city projects” pointing to one in particular in Shanghai. A description of that project on SenseTime’s website says it uses its technology to “improve public safety management, smart regional operations and life quality enhancement.” Megvii did not respond to CNBC’s request for comment. Those companies have proven able to raise huge sums of money from investors. Megvii raised $750 million just this month. Last year SenseTime raised more than $1 billion over two rounds. Several other big technology companies in China including Hikvision are involved with the government’s mass surveillance plans.

Origins

China’s discussion around using technology to control and manage society can be traced back to the 1970s and 1980s, according to Samantha Hoffman, a fellow at the Australian Strategic Policy Institute’s International Cyber Policy Centre. But it was in 2000, with the launch of the “Golden Shield Project,” that China’s surveillance drive really kicked off. The aim was to create a centralized database system with every citizen’s records that can be accessed by security forces around the country.

That has developed to include other initiatives. One is called “Skynet,” which refers to the government’s video surveillance project, and another is “Sharp Eyes,” which looks to extend that monitoring to more rural areas. This network comprises tens of millions of cameras, and Beijing wants to have blanket coverage across China. “It’s truly Orwellian, but the (Communist) party think they need to do this to survive,” James Lewis, a senior vice president at the Center for Strategic and International Studies, told CNBC.

Finding a blueprint


Company: cnbc, Activity: cnbc, Date: 2019-05-27  Authors: arjun kharpal
Keywords: news, cnbc, companies, hikvision, takes, tech, war, chinas, technology, china, trade, chinese, company, aim, world, told, surveillance


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Tech giant Lenovo says it’s ‘well-prepared’ if the US slaps more tariffs on China

Chinese technology firm Lenovo, one of the world’s largest PC makers, can shift production to other countries if the U.S. slaps more tariffs on China, the company’s finance chief told CNBC. President Donald Trump has threatened an additional round of tariffs on $300 billion of Chinese imports which could include consumer electronics. Lenovo said it has a global manufacturing footprint and could shift production elsewhere if extra tariffs were imposed on China. “We obviously are well-prepared in


Chinese technology firm Lenovo, one of the world’s largest PC makers, can shift production to other countries if the U.S. slaps more tariffs on China, the company’s finance chief told CNBC. President Donald Trump has threatened an additional round of tariffs on $300 billion of Chinese imports which could include consumer electronics. Lenovo said it has a global manufacturing footprint and could shift production elsewhere if extra tariffs were imposed on China. “We obviously are well-prepared in
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Keywords: news, cnbc, companies, production, china, slaps, shift, lenovo, countries, told, worlds, giant, tech, million, wellprepared, chinese, tariffs


Tech giant Lenovo says it's 'well-prepared' if the US slaps more tariffs on China

Chinese technology firm Lenovo, one of the world’s largest PC makers, can shift production to other countries if the U.S. slaps more tariffs on China, the company’s finance chief told CNBC.

President Donald Trump has threatened an additional round of tariffs on $300 billion of Chinese imports which could include consumer electronics.

Lenovo said it has a global manufacturing footprint and could shift production elsewhere if extra tariffs were imposed on China.

“We obviously are well-prepared in the event that it happens,” Lenovo CFO Wai Ming Wong told CNBC.

“We have definitely the ability to shift some of the production … from the impacted countries like China to the countries where we can continue to without, I think, without having the impact of the tariffs,” he added.

Lenovo reported profit of $597 million for its fiscal year which ended March 31, from a loss of $189 million in the previous year.


Company: cnbc, Activity: cnbc, Date: 2019-05-24  Authors: arjun kharpal
Keywords: news, cnbc, companies, production, china, slaps, shift, lenovo, countries, told, worlds, giant, tech, million, wellprepared, chinese, tariffs


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Huawei says its own operating system could be ready this year if it can’t use Google or Microsoft

Huawei could have its own operating system for smartphones and laptops ready for use in China by fall this year, the head of the company’s consumer division told CNBC. That meant Huawei would no longer be able to license the version of Google’s Android operating system that’s complete with all of the U.S. firm’s services. Huawei has said in the past that it has its own operating system waiting in the wings if it were to be permanently blocked from Google and Microsoft software. However, Yu said


Huawei could have its own operating system for smartphones and laptops ready for use in China by fall this year, the head of the company’s consumer division told CNBC. That meant Huawei would no longer be able to license the version of Google’s Android operating system that’s complete with all of the U.S. firm’s services. Huawei has said in the past that it has its own operating system waiting in the wings if it were to be permanently blocked from Google and Microsoft software. However, Yu said
Huawei says its own operating system could be ready this year if it can’t use Google or Microsoft Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: arjun kharpal
Keywords: news, cnbc, companies, store, ready, google, huawei, told, cant, apps, yu, huaweis, operating, system, app, microsoft


Huawei says its own operating system could be ready this year if it can't use Google or Microsoft

Huawei could have its own operating system for smartphones and laptops ready for use in China by fall this year, the head of the company’s consumer division told CNBC. Still, he stressed that would only happen if the company were completely stopped from using Google’s and Microsoft’s software. The Chinese technology giant was placed on a U.S. blacklist that required American firms to get permission from the government before selling anything to Huawei. That meant Huawei would no longer be able to license the version of Google’s Android operating system that’s complete with all of the U.S. firm’s services. However, Washington granted a temporary 90-day reprieve for Huawei, which will allow it to continue using American technology — for now.

Huawei has said in the past that it has its own operating system waiting in the wings if it were to be permanently blocked from Google and Microsoft software. Now, one of the company’s top executives has told CNBC that the operating system could be ready by the fourth quarter of this year, with a version for its markets outside of China available in either the first or second quarter of 2020. “Today, Huawei, we are still committed to Microsoft Windows and Google Android. But if we cannot use that, Huawei will prepare the plan B to use our own OS,” Richard Yu, CEO of Huawei’s consumer business, told CNBC on Thursday. If Huawei isn’t allowed to use Android, it could be damaging because the phones won’t have the Google Play Store where consumers can download apps. Instead, users would need to find other ways to install their favorite applications.

However, Yu said Huawei’s own app store, known as the App Gallery, would be available on its own operating system. The App Gallery is installed on Huawei’s devices currently, but Google’s Play Store is often the default app store for consumers. The Huawei executive stressed that Huawei’s own operating system would only be rolled out if the company were permanently blocked from using Google or Microsoft products. “We don’t want to do this but we will forced to do that because of the U.S. government. I think the U.S., this kind of thing, will also not only be bad news for us, but also bad news for the U.S. companies because we support the U.S. business, so we will be forced to do this on our own,” Yu said. “We don’t want to do this but we have no other solution, no other choice.”

Challenges

There are several challenges that could face Hauwei’s own operating system. Firstly, Huawei will need to make its own software have a user experience that can match Google and have the “versatility of collection of apps,” according to Neil Shah, a research director, at Counterpoint Research. Secondly, making apps secure will be key. “Ensuring security of apps is paramount which involves scanning and certification of apps for the store which is a humongous task and could be challenging and resource intensive. The last thing Huawei would want is privacy or security issues plaguing the offering,” Shah told CNBC.

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Company: cnbc, Activity: cnbc, Date: 2019-05-23  Authors: arjun kharpal
Keywords: news, cnbc, companies, store, ready, google, huawei, told, cant, apps, yu, huaweis, operating, system, app, microsoft


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A major Chinese automaker postpones its US launch as trade war drags on

GAC Motor, one of China’s largest carmakers, has postponed its launch in the U.S. because of the ongoing trade war between the world’s two-largest economies, a company executive said Tuesday. The automaker, headquartered in Guangzhou in southern China, said its entrance into the U.S., which was anticipated for this year, will be postponed. “The current relationship between the U.S. and China, the trade war, the relationship is uncertain” said Hebin Zeng, president of international at GAC Motor.


GAC Motor, one of China’s largest carmakers, has postponed its launch in the U.S. because of the ongoing trade war between the world’s two-largest economies, a company executive said Tuesday. The automaker, headquartered in Guangzhou in southern China, said its entrance into the U.S., which was anticipated for this year, will be postponed. “The current relationship between the U.S. and China, the trade war, the relationship is uncertain” said Hebin Zeng, president of international at GAC Motor.
A major Chinese automaker postpones its US launch as trade war drags on Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: arjun kharpal
Keywords: news, cnbc, companies, zeng, motor, relationship, major, postpones, postponed, trade, drags, chinese, china, enter, gac, launch, automaker, war, worlds


A major Chinese automaker postpones its US launch as trade war drags on

GAC Motor, one of China’s largest carmakers, has postponed its launch in the U.S. because of the ongoing trade war between the world’s two-largest economies, a company executive said Tuesday.

The automaker, headquartered in Guangzhou in southern China, said its entrance into the U.S., which was anticipated for this year, will be postponed.

“The current relationship between the U.S. and China, the trade war, the relationship is uncertain” said Hebin Zeng, president of international at GAC Motor. “We postponed the plan to enter the North American market.”

Zeng declined to give a specific timeline on when GAC could enter the U.S.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: arjun kharpal
Keywords: news, cnbc, companies, zeng, motor, relationship, major, postpones, postponed, trade, drags, chinese, china, enter, gac, launch, automaker, war, worlds


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