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China seizes $1.5 billion in online lending crackdown

AP — Chinese police have investigated 380 online lenders and frozen $1.5 billion in assets following an avalanche of scandals in the huge but lightly regulated industry, the government announced Monday. Beijing allowed a private finance industry to flourish in order to supply credit to entrepreneurs… Read More

UK concludes it can mitigate risk from Huawei equipment use in 5G: FT

The British government has decided it can mitigate the risks arising from the use of Huawei Technologies Co Ltd in 5G networks, the Financial Times reported on Sunday, citing two sources familiar with the conclusion of Britain’s National Cyber Security Centre (NCSC). The conclusion reached by Britain would “carry great… Read More

Schumer announces fentanyl sanctions bill before China talks

AP — The Senate’s top Democrat is introducing legislation to “hold China accountable” and sanction laboratories and other traffickers who export fentanyl to the United States. The bill, which will be introduced by Sen. Charles Schumer, of New York later this week, is likely to add to growing tension between… Read More

30th January 2019

Huawei’s Meng appears in court as Canada mulls U.S. extradition

Huawei Technologies Co Ltd’s chief financial officer, the central figure in a high-stakes dispute between the world’s two largest economies, made her first appearance in a Canadian court in more than a month on Tuesday as Ottawa weighs extraditing the Chinese executive to the United States. Meng Wanzhou, daughter of… Read More

24th January 2019

Canadian ambassador: Huawei exec could avoid US extradition

AP — Canada’s ambassador to China said he thinks a top Chinese executive has a strong case to avoid extradition to the United States and said he hopes she will be released soon in remarks one of his predecessors called “mind-boggling.” Ambassador John McCallum told Chinese… Read More

23rd January 2019

China banking regulator strengthens banks’ overseas compliance management

China’s banking and insurance regulator issued guidelines on Tuesday to strengthen banks’ overseas compliance management. It will pay special attention to country risk, anti-money laundering and counter terrorism risks, the China’s Banking and Insurance Regulatory Commission said in a statement on its website. (Reporting by Shu Zhang and Beijing Monitoring… Read More

23rd January 2019

China demands US drop Huawei extradition request with Canada

AP — China on Tuesday demanded the U.S. drop a request that Canada extradite a top executive of the tech giant Huawei, shifting blame to Washington in a case that has severely damaged Beijing’s relations with Ottawa. Foreign Ministry spokeswoman Hua Chunying said Meng Wanzhou’s case… Read More

18th January 2019

Oxford University suspends funding from China’s Huawei

The University of Oxford said on Thursday it has stopped accepting funding from China’s Huawei Technologies [HWT.UL], the leading global supplier of telecoms network equipment, after scrutiny over the company’s relationship with China’s government. “Oxford University decided on January 8 this year that it will not pursue new funding opportunities… Read More

14th January 2019

Huawei fires employee arrested in Poland on spy charges

AP — Chinese tech giant Huawei said Saturday it has fired an employee who was arrested in Poland on spying charges. The allegations against Wang Weijing “have no relation to the company,” Huawei Technologies Ltd. said in a statement. It said Wang was fired because… Read More

9th January 2019

New documents link Huawei to suspected front companies in Iran, Syria

The U.S. case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centres on the company’s suspected ties to two obscure companies. One is a telecom equipment seller that operated in Tehran; the other is that firm’s owner, a holding company registered… Read More

2nd January 2019

China’s Disappeared: A look at who went missing in 2018

AP — It’s not uncommon for individuals who speak out against the government to disappear in China, but the scope of the “disappeared” has expanded since President Xi Jinping came to power in 2013. Not only dissidents and activists, but also high-level officials, Marxists, foreigners and… Read More

1st January 2019

China says new financial information rules aimed at providers for institutions

China’s internet regulator said on Friday the recently published rules governing financial information providers are aimed at firms supplying information to an institutional audience and to specific investors, rather than the general public. Financial information services are different from internet news and information services, the Cyberspace Administration of China (CAC)… Read More

28th December 2018

White House mulls new year executive order to bar Huawei, ZTE purchases

President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar U.S. companies from using telecommunications equipment made by China’s Huawei and ZTE, three sources familiar with the situation told Reuters. It would be the latest step by the Trump administration… Read More

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