Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information


Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90. The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information
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Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


Asia stocks crumble: Shanghai topples more than 5%, Nikkei declines nearly 4%

Asia markets fell sharply on Thursday, with the stock indexes in Shanghai and Shenzhen both tumbling more than 5 percent.

In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.

The fall in the Shanghai index was its worst day since February 2016, according to Chinese financial services firm Wind Information.

In Taiwan, the tech-heavy Taiex dropped by 6.31 percent to close at 9,806.11, with shares of lens maker and Apple supplier Largan Precision plunging 9.89 percent.

Japan’s markets also faltered. The Nikkei 225 dropped by 3.89 percent to close at 22,590.86 while the Topix index declined by 3.52 percent to end the trading day at 1,701.86, with major sectors down.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, shenzhen, day, fell, dropped, asia, shanghai, close, nearly, markets, nikkei, topples, end, stocks, index, crumble, composite, declines


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ZTE plunges around 40% as shares resume trade

Telecommunications equipment maker ZTE fell around 40 percent early in Hong Kong Wednesday trading hours after its shares resumed trade there and in Shenzhen. In a filing, ZTE said it will pay a $1 billion lump sum payment to the U.S. government as part of a settlement agreement, as well as an additional $400 million in escrow. ZTE will also replace its entire board of directors, as well as the board of subsidiary ZTE Kangxun, and create a compliance committee, the company added. Shares of ZTE w


Telecommunications equipment maker ZTE fell around 40 percent early in Hong Kong Wednesday trading hours after its shares resumed trade there and in Shenzhen. In a filing, ZTE said it will pay a $1 billion lump sum payment to the U.S. government as part of a settlement agreement, as well as an additional $400 million in escrow. ZTE will also replace its entire board of directors, as well as the board of subsidiary ZTE Kangxun, and create a compliance committee, the company added. Shares of ZTE w
ZTE plunges around 40% as shares resume trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-12  Authors: cheang ming, giulia marchi, bloomberg, getty images
Keywords: news, cnbc, companies, company, 40, filing, companys, zte, senior, agreement, kong, hong, shares, trade, shenzhen, plunges, resume


ZTE plunges around 40% as shares resume trade

Telecommunications equipment maker ZTE fell around 40 percent early in Hong Kong Wednesday trading hours after its shares resumed trade there and in Shenzhen.

In a filing, ZTE said it will pay a $1 billion lump sum payment to the U.S. government as part of a settlement agreement, as well as an additional $400 million in escrow. ZTE will also replace its entire board of directors, as well as the board of subsidiary ZTE Kangxun, and create a compliance committee, the company added.

The agreement comes after the U.S. government stopped American firms from selling to ZTE earlier this year, based on the company’s business dealings with Iran and North Korea.

Existing members of the company’s senior leadership, from the senior vice president level and higher, would also be replaced within a period of 30 days from June 8 as part of the agreement.

Shares of ZTE were down 38.05 percent in Hong Kong and 10 percent in Shenzhen at 10:30 a.m. HK/SIN. Trade in the Shenzhen-based company had been halted since April.

The wider Hang Seng index was down 0.56 percent and the Shenzhen composite was lower by 0.4 percent.

In the meantime, the ban enforced against ZTE will only be lifted after it satisfies the conditions of the agreement. “The company will resume operating activities … as soon as practicable,” ZTE said in its filing.

— CNBC’s Saheli Roy Choudhury contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-06-12  Authors: cheang ming, giulia marchi, bloomberg, getty images
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‘Innovate or die’: Hong Kong pushes for tech glory after falling behind its neighbors

Hong Kong has long dreamed of combining its financial and trade punch with research muscle to develop high-tech ideas that spur jobs and growth. Panic bells have been ringing as experts warn Hong Kong must shed an outdated and largely hands-off attitude toward innovation and technology or fall further behind in the 21st century. “Innovate or die,” was the stark message delivered in a study released May 14 by the Hong Kong Academy of Engineering Sciences, the Chinese Academy of Engineering and th


Hong Kong has long dreamed of combining its financial and trade punch with research muscle to develop high-tech ideas that spur jobs and growth. Panic bells have been ringing as experts warn Hong Kong must shed an outdated and largely hands-off attitude toward innovation and technology or fall further behind in the 21st century. “Innovate or die,” was the stark message delivered in a study released May 14 by the Hong Kong Academy of Engineering Sciences, the Chinese Academy of Engineering and th
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Company: cnbc, Activity: cnbc, Date: 2018-06-03  Authors: kelly olsen, dale de la rey, afp, getty images
Keywords: news, cnbc, companies, tech, innovate, falling, study, glory, report, trade, hightech, greater, chinese, neighbors, kong, shenzhen, pushes, die, hong


'Innovate or die': Hong Kong pushes for tech glory after falling behind its neighbors

Hong Kong has long dreamed of combining its financial and trade punch with research muscle to develop high-tech ideas that spur jobs and growth.

In reality, the global trade emporium has mostly watched as the nearby mainland Chinese city of Shenzhen soared ahead, hosting tech giants Huawei, Tencent and ZTE.

Panic bells have been ringing as experts warn Hong Kong must shed an outdated and largely hands-off attitude toward innovation and technology or fall further behind in the 21st century.

“Innovate or die,” was the stark message delivered in a study released May 14 by the Hong Kong Academy of Engineering Sciences, the Chinese Academy of Engineering and the Institute for Public Policy at the Hong Kong University of Science and Technology.

“There is no time to lose,” the report said, stressing that Hong Kong is destined to be “left behind” without innovation.

Some see hope for Hong Kong to realize its tech ambitions in an ambitious Chinese government initiative that envisions the southern region centered on Guangzhou, Shenzhen and Hong Kong as a potential rival to California’s Silicon Valley.

The proposed Greater Bay Area includes a total of 11 Chinese cities — including gambling center Macau — with a population close to 70 million people.

William Ma, co-chief investment officer at Noah Holdings, said Hong Kong needs to use the Greater Bay Area project to get closer to Shenzhen, which he said is destined to grow as big as Beijing and Shanghai.

Shenzhen is “more entrepreneurial” and focused on “new growth high-tech” companies and industry, he told CNBC.

The joint academic report, based on a year-long study, put it more bluntly: “Shenzhen has surpassed Hong Kong as the most competitive city in China,” it said.


Company: cnbc, Activity: cnbc, Date: 2018-06-03  Authors: kelly olsen, dale de la rey, afp, getty images
Keywords: news, cnbc, companies, tech, innovate, falling, study, glory, report, trade, hightech, greater, chinese, neighbors, kong, shenzhen, pushes, die, hong


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A rare look inside Chinese smartphone giant, Huawei’s headquarters

A rare look inside Chinese smartphone giant, Huawei’s headquarters9 Hours AgoHuawei is the world’s third-largest smartphone maker and it has the headquarters to match. CNBC’s Uptin Saiidi visited the Chinese tech giant’s massive Shenzhen campus, home to nearly 60,000 employees.


A rare look inside Chinese smartphone giant, Huawei’s headquarters9 Hours AgoHuawei is the world’s third-largest smartphone maker and it has the headquarters to match. CNBC’s Uptin Saiidi visited the Chinese tech giant’s massive Shenzhen campus, home to nearly 60,000 employees.
A rare look inside Chinese smartphone giant, Huawei’s headquarters Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-08
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A rare look inside Chinese smartphone giant, Huawei's headquarters

A rare look inside Chinese smartphone giant, Huawei’s headquarters

9 Hours Ago

Huawei is the world’s third-largest smartphone maker and it has the headquarters to match. CNBC’s Uptin Saiidi visited the Chinese tech giant’s massive Shenzhen campus, home to nearly 60,000 employees.


Company: cnbc, Activity: cnbc, Date: 2018-05-08
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Most Asian stocks drift lower; China GDP growth tops estimates

Greater China markets were lower after the release of key data on Tuesday, but had pared some of the steeper declines seen earlier in the session. Hong Kong’s Hang Seng Index eased 0.08 percent, as slight gains in the technology sector were offset by declines in property and industrials stocks. The Shanghai composite was last off by 0.12 percent and the Shenzhen composite edged down by 0.48 percent. Trade tensions also continued to simmer, having taken a backseat in recent sessions. ZTE shares i


Greater China markets were lower after the release of key data on Tuesday, but had pared some of the steeper declines seen earlier in the session. Hong Kong’s Hang Seng Index eased 0.08 percent, as slight gains in the technology sector were offset by declines in property and industrials stocks. The Shanghai composite was last off by 0.12 percent and the Shenzhen composite edged down by 0.48 percent. Trade tensions also continued to simmer, having taken a backseat in recent sessions. ZTE shares i
Most Asian stocks drift lower; China GDP growth tops estimates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-04-16  Authors: cheang ming
Keywords: news, cnbc, companies, tops, shares, shenzhen, higher, china, stocks, asian, session, zte, tensions, gdp, hyundai, growth, lower, estimates, seen, trade, projected, drift


Most Asian stocks drift lower; China GDP growth tops estimates

Down Under, the S&P/ASX 200 drifted higher by 0.27 percent as all its subindexes traded in the green.

Greater China markets were lower after the release of key data on Tuesday, but had pared some of the steeper declines seen earlier in the session. Hong Kong’s Hang Seng Index eased 0.08 percent, as slight gains in the technology sector were offset by declines in property and industrials stocks.

The Shanghai composite was last off by 0.12 percent and the Shenzhen composite edged down by 0.48 percent.

China’s economy grew 6.8 percent in the first quarter of 2018, the country’s statistical bureau said. The figure beat an estimate of 6.7 percent on year growth projected in a Reuters poll.

Tentative moves in the region came despite U.S. stocks closing higher in the last session as investors shifted their attention from geopolitical tensions to strong corporate earnings releases.

Expectations for earnings season stateside are high, with first-quarter results projected to rise 18.6 percent compared to one year ago, according to Thomson Reuters I/B/E/S data.

U.S. markets had advanced in the previous session after last week’s U.S.-led airstrikes in Syria in response to a likely chemical attack there earlier in April. Investors were apparently calmed by top defense officials’ characterization of the strikes as a “one time shot.”

Trade tensions also continued to simmer, having taken a backseat in recent sessions.

The U.S. Department of Commerce imposed a denial of export privileges against China’s ZTE, a telecommunications equipment company. The ban stops U.S. companies from selling to ZTE for seven years, Reuters reported, and comes after the Chinese firm failed to adhere to an agreement with the U.S. government after it illegally shipped equipment to Iran and North Korea, U.S. officials said.

ZTE shares in Hong Kong and Shenzhen were halted from trade on Tuesday, pending an announcement.

In individual movers, Hyundai Motor was up 2.61 percent, outperforming the South Korean market. The advance in Hyundai came amid Reuters headlines that a unit of Elliott Management, which owns more than $1 billion in shares of Hyundai affiliates, was supportive of the automaker’s reorganization plans.

Meanwhile, the dollar was steady against a basket of currencies after investor confidence firmed overnight, with the dollar index last at 89.428.

The greenback extended losses against the yen, trading at 107.05 at 10:26 a.m. HK/SIN, compared to levels above the 107.1 handle seen on Monday.

Of note, the pound rose as high as $1.4355 during the session, the currency’s strongest levels since Brexit.

On the commodities front, oil prices were moderately higher after Monday’s fall. U.S. West Texas Intermediate crude futures added 0.45 percent to trade at $66.52 per barrel and Brent crude futures edged up 0.32 percent to $71.65.

— CNBC’s Huileng Tan contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-04-16  Authors: cheang ming
Keywords: news, cnbc, companies, tops, shares, shenzhen, higher, china, stocks, asian, session, zte, tensions, gdp, hyundai, growth, lower, estimates, seen, trade, projected, drift


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Smugglers used drones to bring $79.8 million worth of iPhones into China. They just got busted

Customs officers in southern China’s technology hub Shenzhen busted a group of criminals using drones to smuggle 500 million yuan ($79.8 million) worth of smartphones from Hong Kong to Shenzhen, the official Legal Daily reported on Friday. Authorities arrested 26 suspects who used drones to fly two 200-meter (660-feet) cables between Hong Kong and the mainland to transport refurbished iPhones with a total value of 500million yuan, the paper said in a report on the crackdown by Shenzhen and Hong


Customs officers in southern China’s technology hub Shenzhen busted a group of criminals using drones to smuggle 500 million yuan ($79.8 million) worth of smartphones from Hong Kong to Shenzhen, the official Legal Daily reported on Friday. Authorities arrested 26 suspects who used drones to fly two 200-meter (660-feet) cables between Hong Kong and the mainland to transport refurbished iPhones with a total value of 500million yuan, the paper said in a report on the crackdown by Shenzhen and Hong
Smugglers used drones to bring $79.8 million worth of iPhones into China. They just got busted Cached Page below :
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Smugglers used drones to bring $79.8 million worth of iPhones into China. They just got busted

Customs officers in southern China’s technology hub Shenzhen busted a group of criminals using drones to smuggle 500 million yuan ($79.8 million) worth of smartphones from Hong Kong to Shenzhen, the official Legal Daily reported on Friday.

Authorities arrested 26 suspects who used drones to fly two 200-meter (660-feet) cables between Hong Kong and the mainland to transport refurbished iPhones with a total value of 500

million yuan, the paper said in a report on the crackdown by Shenzhen and Hong Kong customs.

“It’s the first case found in China that drones were being used in cross-border smuggling crimes,” the Legal Daily reported, citing a news conference held by Shenzhen customs on Thursday.

The smugglers usually operated after midnight and only needed seconds to transport small bags holding more than 10 iPhones using the drones, the report quoted customs as saying.

The gang could smuggle as many as 15,000 phones across the border in one night, it said.

Regulating the use of drones has become an important task for China, the world’s largest manufacturer of consumer drones.

China published strict rules last year to tackle incidents of drones straying into aircraft flight paths, including requiring owners of civilian drones to register craft up to a certain weight under their real names.

Shenzhen customs was quoted by the Legal Daily as saying it would closely monitor new types of smuggling with high-tech devices and enhance their capability with technical equipment, including drones and high-resolution monitors, to detect smuggling activity.


Company: cnbc, Activity: cnbc, Date: 2018-03-30
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Jaywalkers under surveillance in Shenzhen soon to be punished via text messages

Now with the help of artificial intelligence and facial recognition technology, jaywalkers will not only be publicly named and shamed, they will be notified of their wrongdoing via instant messaging – along with the fine. But a combination of technology and psychology … can greatly reduce instances of jaywalking and will prevent repeat offences,” Wang said. In other law enforcement applications, police at the Zhengzhou East high speed rail station in Henan province have been equipped with smart


Now with the help of artificial intelligence and facial recognition technology, jaywalkers will not only be publicly named and shamed, they will be notified of their wrongdoing via instant messaging – along with the fine. But a combination of technology and psychology … can greatly reduce instances of jaywalking and will prevent repeat offences,” Wang said. In other law enforcement applications, police at the Zhengzhou East high speed rail station in Henan province have been equipped with smart
Jaywalkers under surveillance in Shenzhen soon to be punished via text messages Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-03-28  Authors: li tao
Keywords: news, cnbc, companies, surveillance, shenzhen, technology, jaywalkers, punished, wang, text, offenders, recognition, facial, china, system, messages, soon, traffic, led


Jaywalkers under surveillance in Shenzhen soon to be punished via text messages

Traffic police in the southern Chinese city of Shenzhen have always had a reputation for strict enforcement of those flouting road rules in the metropolis of 12 million people.

Now with the help of artificial intelligence and facial recognition technology, jaywalkers will not only be publicly named and shamed, they will be notified of their wrongdoing via instant messaging – along with the fine.

Intellifusion, a Shenzhen-based AI firm that provides technology to the city’s police to display the faces of jaywalkers on large LED screens at intersections, is now talking with local mobile phone carriers and social media platforms such as WeChat and Sina Weibo to develop a system where offenders will receive personal text messages as soon as they violate the rules, according to Wang Jun, the company’s director of marketing solutions.

More from the South China Morning Post:

Kim Jong-un wife’s fashion sense a hit with China’s public

China’s secrecy over Kim Jong-un’s visit was part of a long-standing tradition

US and China in talks to shield soybeans and other farm products from trade war tariffs

“Jaywalking has always been an issue in China and can hardly be resolved just by imposing fines or taking photos of the offenders. But a combination of technology and psychology … can greatly reduce instances of jaywalking and will prevent repeat offences,” Wang said.

First-tier Chinese cities like Beijing and Shanghai have already employed AI and facial recognition technology to regulate traffic and identify driver’s who violate road rules, while Shenzhen traffic police began displaying photos of jaywalkers on large LED screens at major intersections starting in April 2017. In other law enforcement applications, police at the Zhengzhou East high speed rail station in Henan province have been equipped with smart glasses with facial recognition software that can identify wanted criminals, while Beijing police are using the world’s first surround-body camera with inbuilt facial recognition technology.

For the current system installed in Shenzhen, Intellifusion installed cameras with 7 million pixels of resolution to capture photos of pedestrians crossing the road against traffic lights. Facial recognition technology identifies the individual from a database and displays a photo of the jaywalking offence, the family name of the offender and part of their government identification number on large LED screens above the pavement.

In the 10 months to February this year, as many as 13,930 jaywalking offenders were recorded and displayed on the LED screen at one busy intersection in Futian district, the Shenzhen traffic police announced last month.

Taking it a step further, in March the traffic police launched a webpage which displays photos, names and partial ID numbers of jaywalkers.

These measures have effectively reduced the number of repeat offenders, according to Wang.

The next step – informing the errant pedestrians by text or Weibo instant messaging – could have the added benefit of eliminating the cost of erecting large LED screens across the cities, he said.

The system will also be able to register how many times a pedestrian has violated traffic rules in the city and once this number reaches a certain level, it will affect the offender’s social credit score which in turn may limit their ability to take out loans from banks, Wang said.

Li Yi, chief fellow at the Shanghai Academy of Social Sciences, said the act of publicly displaying images and selected private information on offenders could prove effective in China where many people are still indifferent to traffic rules.

“Still, we always need to strike a balance between law enforcement and privacy protection,” Li added.

Shenzhen has one of the most transient populations in China, so many people do not have their information registered in the database of the traffic police, even though anyone staying in the city for more than 30 days is required to do so. That means authorities can only currently identify 10 per cent of offenders using the AI facial recognition system. Wang said that percentage is expected to surge after the databases of different government departments are set to merged in the near future.

Follow CNBC International on Twitter and Facebook.


Company: cnbc, Activity: cnbc, Date: 2018-03-28  Authors: li tao
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China’s Leshi Internet flags $1.8 billion loss for 2017, citing LeEco cash crunch

Chinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues. Leshi is trying to recover debt owed by Jia. It said last week it is seeking equity stakes in the car businesses of Jia for debt owed by him and his companies amounting to as much as 7.5 billion yuan ($1.17 billion). Leshi flagged the expected loss for 2017 in a statem


Chinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues. Leshi is trying to recover debt owed by Jia. It said last week it is seeking equity stakes in the car businesses of Jia for debt owed by him and his companies amounting to as much as 7.5 billion yuan ($1.17 billion). Leshi flagged the expected loss for 2017 in a statem
China’s Leshi Internet flags $1.8 billion loss for 2017, citing LeEco cash crunch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-01-30  Authors: vcg, getty images
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China's Leshi Internet flags $1.8 billion loss for 2017, citing LeEco cash crunch

Chinese video-streaming firm Leshi Internet Information & Technology said it expects a net loss of 11.6 billion yuan ($1.83 billion) for 2017, citing a cash crunch at embattled technology conglomerate LeEco that hurt its revenues.

Leshi had reported a profit of 554.8 million yuan in 2016.

It was once the main listed unit of LeEco which was founded by Jia Yueting. Last year, property developer Sunac China became Leshi’s second-largest shareholder and Jia subsequently resigned as chairman and CEO from the company but remains its largest shareholder.

Leshi is trying to recover debt owed by Jia. It said last week it is seeking equity stakes in the car businesses of Jia for debt owed by him and his companies amounting to as much as 7.5 billion yuan ($1.17 billion).

Leshi flagged the expected loss for 2017 in a statement to the Shenzhen stock exchange on Tuesday evening.

The announcement sent Leshi’s shares plunging by the daily limit of 10 percent on Wednesday, the sixth consecutive day they have tumbled the maximum allowed since resuming trading a week ago following a 9-month suspension.

Correction: This story has been updated to reflect that Leshi flagged its expected loss in a statement to the Shenzhen stock exchange.


Company: cnbc, Activity: cnbc, Date: 2018-01-30  Authors: vcg, getty images
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New home prices in China pick up

New home prices in China pick up11 Hours AgoNew home prices in larger cities like Shenzhen might have declined, but they’re still rising in smaller cities, says Alan Jin of Mizuho Securities Asia.


New home prices in China pick up11 Hours AgoNew home prices in larger cities like Shenzhen might have declined, but they’re still rising in smaller cities, says Alan Jin of Mizuho Securities Asia.
New home prices in China pick up Cached Page below :
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New home prices in China pick up

New home prices in China pick up

11 Hours Ago

New home prices in larger cities like Shenzhen might have declined, but they’re still rising in smaller cities, says Alan Jin of Mizuho Securities Asia.


Company: cnbc, Activity: cnbc, Date: 2018-01-17
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Huawei customers win prestigious awards at Smart City Expo World Congress 2017

Shenzhen wins Safe City Award, Yanbu wins Data and Technology AwardFour Huawei customers were recognized for their outstanding Smart City achievements at the prestigious Smart City Expo World Congress 2017 (SCEWC). Shenzhen in China won the Safe City Award with its Smart Transportation project, and Yanbu in Saudi Arabia won the Data and Technology Award with its Smart City project. With 309 entries from 58 countries for this year’s World Smart City Awards, the competition iwas greater than ever,


Shenzhen wins Safe City Award, Yanbu wins Data and Technology AwardFour Huawei customers were recognized for their outstanding Smart City achievements at the prestigious Smart City Expo World Congress 2017 (SCEWC). Shenzhen in China won the Safe City Award with its Smart Transportation project, and Yanbu in Saudi Arabia won the Data and Technology Award with its Smart City project. With 309 entries from 58 countries for this year’s World Smart City Awards, the competition iwas greater than ever,
Huawei customers win prestigious awards at Smart City Expo World Congress 2017 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-12-05  Authors: paid post huawei
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Huawei customers win prestigious awards at Smart City Expo World Congress 2017

Shenzhen wins Safe City Award, Yanbu wins Data and Technology Award

Four Huawei customers were recognized for their outstanding Smart City achievements at the prestigious Smart City Expo World Congress 2017 (SCEWC). Shenzhen in China won the Safe City Award with its Smart Transportation project, and Yanbu in Saudi Arabia won the Data and Technology Award with its Smart City project. In addition, Weifang in China was one of the finalists for the City Award with its Smart City 3.0 project, while Cameroon was nominated for the Innovation Idea Award with its solar energy project. These cities have all leveraged Huawei’s Smart City solutions customized to meet city management needs across different regions and different levels of development. The solutions drive digital transformation to improve city administration, create sustainable economies and enable efficient public services.

With 309 entries from 58 countries for this year’s World Smart City Awards, the competition iwas greater than ever, reflecting the diversity and innovativeness of Smart City development across the world.

Yan Lida, President of Huawei Enterprise Business Group, said: “The ultimate goal of a Smart City is to enable good governance, promote industry development and deliver benefits for the people. Together with our customers and partners, we are moving towards achieving these outcomes by improving city governance and service capabilities, developing the local economy and stimulating innovation, as well as making cities more livable. Drawing from the world’s best Smart City practices, we have found that a successful Smart City Development is driven by strong governmental support backed by a strong and capable Smart City project team, with long-term and stable investment. Working with a leading digital partner that designs top-level plans to address governmental needs and has an open and robust ecosystem is also crucial. We are honored that Huawei has gained the trust of our customers and become their preferred partner for Smart City development. Leveraging leading new ICT such as cloud computing, the Internet of Things (IoT) and Artificial Intelligence to build a unified IoT platform, communications platform, cloud data center and smart command center, Huawei creates a nervous system for a Smart City. This enables the Smart City to become a living organism that constantly evolves and grows sustainably. We would like to congratulate Shenzhen and Saudi Arabia on receiving World Smart City Awards 2017, and we look forward to working with more cities to help them realize their Smart City dreams.”


Company: cnbc, Activity: cnbc, Date: 2017-12-05  Authors: paid post huawei
Keywords: news, games, cnbc, companies, awards, development, prestigious, project, shenzhen, huawei, smart, congress, win, city, data, award, world, expo, customers


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