UK board members resign as Huawei fails to condemn Russia’s invasion of Ukraine

Andrew Cahn and Sir Ken Olisa, the only British directors on Huawei UK’s board of directors, resigned as non-executive directors on the 9th after the Chinese giant Huawei did not respond quickly to condemnation of Russia’s invasion of Ukraine.

The two had urged Huawei’s head office in Shenzhen, China, to condemn Putin’s government for sending troops to invade Ukraine, but the head office refused, people familiar with the matter said.

They felt that despite the complicated situation, the position of Huawei’s head office was not in line with their expectations as directors of Huawei UK, so they resigned from the board.

A Huawei spokesperson told foreign media that Andrew Cahn and Sir Ken Olisa were appointed by Huawei’s UK Board of Directors in 2015 and 2018, respectively, bringing rich experience in business and technology to the company. Both of them are committed to Huawei’s commitment to the UK. support and help maintain the highest standards of corporate governance, and Huawei is grateful for their valuable guidance.

However, when asked by the British media BBC whether Huawei continued its local business in Russia, the company said it would not comment.

The news comes as the United States is warning Chinese companies not to violate restrictions on technology exports to Russia. U.S. Commerce Secretary Gina Raimondo told The New York Times that Washington could impose “devastating” penalties on Chinese companies that defy Russian sanctions, banning the use of U.S. equipment and software in their products.


Visa, MasterCard suspend business, Russian banks switch to China UnionPay

Several Russian banks said they would start using the China UnionPay card operating system plus the self-built MIR payment system to issue cards after U.S. credit card companies Visa and Mastercard announced they would suspend their operations in Russia, Reuters reported.

Russia’s largest bank “Sberbank”, the largest private bank “Alfa Bank” and Tinkoff Bank all alleged that they are studying the introduction of UnionPay cards.

U.S. credit card companies Visa and Mastercard said on Saturday (5th) that they would suspend operations in Russia, halting all transactions with immediate effect. Visa said that within a few days, all Russian-issued Visa cards will be invalid for foreign transactions, and any Visa cards issued outside Russia will not be able to be used in Russia.

Mastercard noted that it has been operating in Russia for more than 25 years and will suspend all Russian operations due to the current unstable economic environment. Cards issued by Russian banks will no longer be supported on the Mastercard network, and any Mastercard issued abroad will not be accepted at Russian merchants and ATMs.

After Russia annexed Crimea in 2014 and became hostile to Western countries, it has begun to work to improve the independence of its own financial system. Russia established its own Financial Information Transmission System (SPFS) as an alternative to the System for Cross-Border Currency Transactions (SWIFT), and its national bank payment system MIR began operations in 2015, ensuring it can still protect itself should sanctions expand.

Is the “Russian-Ukraine Crisis” a dress rehearsal for a cross-strait war? Four ways the US can help Taiwan

The conflict between Russia and Ukraine is imminent, but it is clearly half a world away from Taiwan. Why do foreign media such as The New York Times and Bloomberg say that Taiwanese should pay more attention to the Russia-Ukraine crisis?

The world is worried that the war is imminent, which may affect the global oil, natural gas and food prices soaring and further exacerbate inflation. In addition, if Russia invades Ukraine, it will face severe economic sanctions from the European Union and the United States. The two sides will retaliate with sanctions one after another, which will inevitably impact the overall European economy and the performance of emerging markets such as Russia and Ukraine.

For Taiwan, it is even more inseparable from the cross-strait situation, because the possibility of Russia’s invasion of Ukraine has raised concerns about China’s invasion of Taiwan, indicating that the United States needs to prepare for a possible cross-strait crisis.

Both sides of the strait are concerned: Is the US military going to defend Taiwan?
Hal Brands, a professor at the School of Advanced International Studies at Johns Hopkins University, wrote in a Bloomberg review, pointing out that the current Eastern European drama seems to be a rehearsal for how the West will respond to the Taiwan Strait crisis. The U.S. response has given the world a glimpse of how this democratic power will face China’s provocation. The collapse of the Eastern European defense line may force the U.S. to devote more resources to assist, giving Beijing more opportunities to expand its power in Asia.

The New York Times reported that the confrontation between Russia and the United States over the situation in Ukraine resonated across the Taiwan Strait, highlighting the respective strategic calculus of the two sides for the outbreak of an armed military conflict.

China believes that the Russian-Ukrainian conflict can weaken the US’s support and attention to Taiwan. It is a potential crisis for the United States and diverts the military resources the US military has deployed in the Pacific to counter China’s ambitions. From Taiwan’s point of view, it is an opportunity to verify Taiwan’s strategic assumptions. That is, whether the US military will intervene to stop China’s invasion of Taiwan.

“If the Western powers do not respond to Russia, it will encourage China to act boldly on Taiwan,” said Lai Yizhong, executive director of the Cross-Strait Exchange Vision Foundation. Even Wu Qiang, an independent Chinese political scientist, pointed out that, in some respects, Taiwan is more vulnerable than Ukraine, because Taiwan’s diplomatic status has not been officially recognized internationally, so if a war in the Taiwan Strait breaks out, international intervention will be more complicated.

In order to study this European crisis, which is actually very close to Taiwan, and to understand how it will affect relations with China, President Tsai Ing-wen ordered the establishment of a task force to continuously track the situation in eastern Ukraine. The New York Times pointed out that perhaps Taiwanese understand better than the world what it feels like to live in the shadow of hegemony.

From the perspective of the Russian-Ukrainian crisis, how the United States can help Taiwan in four ways
Brandes urged that if China attacks Taiwan, the United States must help Taiwan defend the first wave of offensive, and at the same time, it needs to convene a multilateral military alliance and make Beijing pay a heavy price. The Russia-Ukraine crisis highlights four preparations that Washington can advance.

First, the United States must develop and continue to improve a dual-track approach to economic sanctions. The most effective sanctions rely on multilateral cooperation, but the United States also needs to act unilaterally. This is because the Russian-Ukrainian crisis has shown how difficult it is to obtain broad recognition for severe sanctions. For example, if the United States and Europe want to kick Russia out of the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which is related to financial transactions, it will not only hurt the economy of Russia, but also the United States, The same is true for markets such as Germany.

Therefore, the Biden administration has begun to emphasize unilateral U.S. sanctions, including a ban on the export of high-end semiconductors to Russia. Considering China’s importance to the global economy, sanctions in the Taiwan Strait war will be more difficult than Russia and Ukraine. In addition to taking the lead in imposing unilateral sanctions, the United States will also form a larger economic alliance.

Second, it is best to strengthen the presence of the US military before the conflict in the Taiwan Strait breaks out. Because once tensions escalate, the U.S. military’s advance will be regarded as provocative and even destabilize the region. If war breaks out, the U.S. Marine Corps plans to establish bases on Japanese islands near Taiwan to counter the Chinese fleet, the sources said. However, the gap between the cross-strait crisis and the invasion of Taiwan was actually very short-lived, and it was difficult for the US military to deploy military forces.

In order to reduce the risk of military paralysis at critical moments, Brandes believes that the United States and Japan should strengthen military exercises and deploy military forces on a regular basis. Even, the United States should consider expanding the deployment of troops in Taiwan, secretly strengthening the scale of cooperative operations, and increasing the frequency of tasks. Washington will be able to build small but excellent elite troops in advance.

Third, Taiwan and the US should immediately jointly strengthen their cyber defense capabilities. The situation in Ukraine was tense, but it was reported that the website of the Ukrainian government department suffered a large-scale cyber attack, and Russia was accused of being the mastermind behind it. Taiwan is even more dangerous. It is no longer news that Taiwan is frequently attacked by the Chinese cyber army. Experts predict that any crime against Taiwan will be accompanied by overwhelming cyber attacks, with the aim of paralyzing Taiwan society and forcing its leaders to surrender. Taiwan’s important infrastructure is highly digitized, including natural gas, water conservancy, and electricity, all of which are under great threat.

Klon Kitchen, a defense and cybersecurity expert at the American Enterprise Institute (AEI), a Washington-based think tank, and Bill Drexel, a researcher, suggested that the U.S. Cyber ​​Command and the National Security NSA) actively hunts for cyber threats to servers in Taiwan.

Fourth, Taiwan and the United States need to have closer daily exchanges. The dispute between Western democracies and Ukraine has shown that even close diplomatic partners cannot easily cooperate in coordinating messages and actions. Not to mention Taiwan, because it has no formal diplomatic relations with the United States, the situation of cross-strait conflicts is even more difficult.

Brandes said Washington does not need to revisit the “one-China policy,” but as Dan Blumenthal, an Asia expert at the American Enterprise Institute, said, the United States can expand military ties with Taiwan and facilitate political and diplomatic interactions. And establish crisis communication procedures, so that the leaders of the two countries can also maintain communication when a conflict breaks out.

The Russian-Ukrainian crisis is undoubtedly a catastrophe for the world, and the only hope is that the United States has learned from it how to prevent an even bigger disaster: the war in the Taiwan Strait.

India blocks 54 more Chinese apps due to national security concerns

Due to the tense situation on the Sino-Indian border, India has banned hundreds of Chinese apps in the past two years. Recently, India has banned 54 Chinese apps. Many Tencent, Alibaba and NetEase products, including the game developer Garena of Shopee parent company Donghai Group The mobile game “I want to live” (Free Fire) was also blocked.

The Indian Ministry of Home Affairs issued the latest guidelines on the 14th, suggesting that the Ministry of Science and Technology ban 54 Chinese apps, because of suspected access to sensitive information of Indian users, the most concerned is Garena’s game app.

According to analytics firm App Annie, I’m Living has more than 1 billion downloads on Google Play, with more than 40 million global monthly active users in India. The largest shareholder of Donghai Group is Chinese media giant Tencent. Still, the blockade took the Garena team by surprise.

India began a series of app bans in late June 2020, when it banned TikTok, WeChat, Alibaba UC browser and dozens of other China-related apps out of national security concerns. In response to most of the bans, the New Delhi government believes that the way the apps compile, mine and analyze user data poses a risk to India’s national security and defense.

The Indian government has banned more than 300 China-related apps in the past year and a half, including the hit game PUBG, but it is also the only known app that has somehow returned to India’s Google Play and App Store.

A mobile game that was scolded for plagiarism, why is even Elon Musk obsessed?

A game that is often scolded for plagiarism and has information security concerns, why does its operation repeatedly break records, and even Tesla founder Musk and Japanese actor Takayuki Yamada are fascinated by it?

First-line seiyuu dubbing, exquisite style
Successfully entered the US and Japan markets

The Chinese mobile game “Genshin Impact” is the most discussed game in 2021 on Twitter and the US forum Reddit, which has applied for public release. According to the statistics of Sensor Tower and App Annie, the global app database, it ranks among the top three in terms of annual mobile game revenue worldwide. Name, revenue in 2021 is as high as 1.8 billion US dollars (about NT 49.6 billion), and it is also the fastest game in history to exceed 1 billion US dollars in total revenue.

Compared with the other two top-grossing games in the world, the rich dad Tencent is behind the game, but the game is a research and development operation of “Mihayou” founded by three self-made graduates of Shanghai Jiaotong University.

“Genshin Impact” allows players to fully manually operate role-playing, free to download, but encourages players to pay for in-game lessons. This model is not only popular in China, players in the United States and Japan have contributed more than 20% of revenue, and even Musk once said on Twitter, “I can’t wait. Join the world of Genshin Impact.”

After all, why are these three people able to make games that are popular all over the world?

Co-founder and chairman Cai Haoyu explained in his speech: Because they not only sell games, but also services. The content is completely in line with the needs of the target customer group, giving an experience beyond the specifications.

“Genshin Impact” targets players who love the two-dimensional culture (press: generally refers to the audience who love animation, comics and video games). This group of people attaches great importance to the details of the game’s dubbing, voice actors, character painting style, etc. to create a unique world view.

In order to capture their hearts, compared to most games that are only dubbed for the domestic language market, with one person playing multiple roles, Mihayou invited first-line voice actors from all over the world, such as Ayumi Murase who dubbed the hero of the anime “Volleyball Boys”, which sold millions of dollars. And Chinese first-class Peking Opera actors sing the episodes in the game. Music is also performed by the London Philharmonic Orchestra and the Shanghai Symphony Orchestra.

Compared with ordinary mobile games, the light and shadow presentation of characters may not be considered, and many accessories only swing in one direction. A character can be polished for 3 years, just to make the headgear swing more naturally. This kind of intention is also reflected in the operation. In September last year, the new character “General Raiden” was revised several times before his debut. According to Sensor Tower data, it generated about US$151 million (about NT$4.16 billion) in revenue in one week, surpassing the entire month of August and dominating the mobile game revenue list in more than 40 countries that month.

The service not only covers the content, but also covers the user interface.

Mobile phone, desktop seamless integration
And remove various constraints and considerate players
Usually most mobile games can only be run on mobile phones, but Genshin Impact can also be played on Sony PS (PlayStation) and computers, and the data is interoperable, allowing players to play on mobile phones when commuting, and seamlessly integrate immediately when they get home. The screen continues to enjoy a more immersive sound and light experience. And it makes it easier for “Yuan Shen” to impress European and American players who are used to playing computer and TV games.

“When Europe and the United States are fascinated by stand-alone games and value high-quality, mass-produced games, while Asia is fascinated by sophisticated and cute mobile games, Genshin Impact combines the advantages of the two.” U-ACG founder Liang Shiyou observed.

What’s more detailed is that even the player’s spiritual level is in place. In general, mobile games will strengthen player connections and create constraints through mechanisms such as organizing guilds and automatically hanging up. However, Mihayou does the opposite, removing almost all of the above mechanisms, freeing players from various psychological constraints.

Oda Norika, a heavy player of “Genshin Impact” and chairman of Noriga International, said: “This is the spirit of serving players, so that you can play without pressure.” He explained that there have been many comparisons in real life, and “Genshin Impact” will not require social interaction. Eliminate competition and return to the original intention of playing the game – to be happy, even letting the characters sit on the edge of the cliff to watch the sunset and be in a daze is also a kind of fun.

However, behind all kinds of thoughtfulness that go beyond specifications and break common sense, we must endure the disadvantage of “slow and expensive”.

The life cycle of 70% of mobile games is only 3 months, but Mihayou took a long-term view from the beginning and set it to run games for more than 4 years. “Yuan Shen” has a small update about 2 months, and only 1~2 major updates a year. “For mobile games, this is slow. Many companies can update every 2 weeks, and updating every 1 to 2 months can easily lead to loss of players.” Liang Xinyuan, founder of the game operation observation station of Flying Bird Cooler, said.

What’s more, the production cost of Tencent’s masterpiece “Honor of Kings” is about 78 million US dollars, but “Genshin Impact” has cost 100 million US dollars just to develop, and it will spend another 200 million US dollars to maintain it every year after it goes online. Cai Haoyu had foreseen this earlier, but he didn’t mind it because he had a bigger blueprint in his heart. He hoped to create a “virtual world in which 1 billion people around the world would like to live in” by 2030.

The success of “Yuan Shen” is to serve the target users in a long-term manner, not in a hurry to let them take out the money, but let the customers pay more determinedly.

Dutch lithography giant ASML says Chinese companies may infringe

On February 9, local time, Dutch lithography giant ASML announced in its 2021 financial report that Chinese enterprise Dong Fang Jing Yuan Electron (DFJY) is actively selling in China, which could potentially infringe the company. intellectual property products. The Orient Jingyuan affiliate XTAL mentioned by ASML was convicted by a US court in 2019 of infringing ASML’s intellectual property rights.

According to a report by China Observer on February 11, ASML China said that the matter was related to XTAL’s previous infringement case and was a normal disclosure in the annual report. ASML is closely monitoring the developments of Dongfang Jingyuan and has not yet prepared to take legal measures, but if there is conclusive evidence, the company will resort to the law.

According to the information disclosed in ASML’s financial report, the company learned in early 2021 that a company related to XTAL is actively promoting products in China that may infringe ASML’s intellectual property rights. In 2019, XTAL was accused of stealing ASML in the United States. trade secrets were awarded compensation. In response, ASML has told customers not to assist the Chinese company named “Oriental Crystal Source” to engage in such potential infringements. ASML also revealed that the company has informed the Chinese regulatory authorities about relevant information and is closely monitoring Monitor the situation and be prepared to take legal action when appropriate.

The full name of Orient Crystal Source Microelectronics Technology (Beijing) Co., Ltd. was established in 2014 and is headquartered in Beijing Yizhuang Economic and Technological Development Zone, focusing on integrated circuit yield management. Yizhuang SDIC has disclosed that Oriental Crystal Source is invested and controlled by Oriental Group, a top 500 enterprise in China, and Oriental Group is a large-scale investment holding private enterprise established in 1978.

From the perspective of specific business, Dongfang Jingyuan’s main products are nano-scale electron beam defect inspection equipment (EBI) and critical dimension measurement equipment (CD-SEM), computational lithography products (OPC) and microelectronics design and manufacturing intelligent yield rate Optimization Platform (HPOTM). The company said that its products are independently developed and are at the leading domestic level, which can effectively solve many difficulties in the domestic integrated circuit industry.

Asmar’s official website shows that in addition to lithography machines, the company’s products also include computational lithography for improving wafer yield and quality. “Without computational lithography, it would be impossible for chip manufacturers to manufacture the latest technology. node”.

A senior person in the semiconductor industry said that in the lithography process, the diffraction of light and the physical and chemical effects in the photosensitive layer will deform the image that the lithography machine is trying to engrave, so computational lithography needs to be calibrated and optimized. To put it simply, computational lithography is similar to the algorithm in EDA. It is a service that fabs need to purchase. If the exposure pattern is different from the actual mask (Mask), the mask can be corrected in advance through computational lithography to ensure the desired result. graphics. Generally speaking, if the fab feels that ASML’s computational lithography is not good enough, it can also choose a product provided by a third party, and the two will form a competition.

In addition to accusing Orient Jingyuan of possible infringement this time, ASML specifically mentioned that Orient Jingyuan and XTAL are related, and the intellectual property dispute between ASML and XTAL occurred several years ago.

In May 2016, ASML sued the US company XTAL in the US court, accusing XTAL of stealing some source codes and intellectual property rights of ASML’s US subsidiary Brion, and claiming that XTAL induced and abetted ASML employees to keep secrets before leaving work for it.

According to the official introduction, Brion is the proponent of the concept of computational lithography. The company was acquired by ASML in 2007. XTAL, founded in 2014 by two former Brion employees, is dedicated to improving yields in the semiconductor manufacturing process, which also includes computational lithography. According to foreign media reports at the time, XTAL developed rapidly after its establishment, and ASML began to have doubts about XTAL after losing a contract with a key customer.

The allegations filed by ASML in the court allege that a year after the founding of XTAL, two ASML employees resigned to join the company and that the two employees copied Brion’s trade secrets onto storage devices and took them away to facilitate XTAL’s business, and they subsequently stole confidential information with two former colleagues who were still at Brion.

During the trial of this case, the Dutch media “Financieele Dagblad” reported that all six employees involved in XTAL’s case had Chinese names, and XTAL was a subsidiary of the Chinese company Dongfang Jingyuan. As a result, the media claimed that the infringement case was related to the Chinese government, and that ASML’s technology might fall into the hands of China, a so-called “state espionage”.

As soon as this statement came out, Asmar took the lead in expressing his opposition.

In April 2019, the company issued an official statement saying that XTAL and its former employees were aiming to enrich themselves with stolen trade secrets and intellectual property, and that ASML found no evidence of any direct involvement by the Chinese government. “We are dissatisfied with any suggestion that this case will affect ASML’s operations in China. Some of them happen to be Chinese nationals, but there are also people from other countries involved.”

Lu Kang, the then Chinese Foreign Ministry spokesman, pointed out that China and the Netherlands have always maintained good cooperation in the field of science and technology. We have reiterated many times that the Chinese government attaches great importance to intellectual property protection. We have always required overseas Chinese citizens and enterprises to abide by the laws of their host countries. As for China itself, China’s scientific and technological development does not depend on stealing or robbing. It is the result of the Chinese people’s hard work and hard work with their own wisdom and sweat.

Peter Wen, CEO of ASML, said in a statement that the company was encouraged by China’s commitment to respecting and protecting the intellectual property rights of non-Chinese companies.

The Dutch company did not mention the existence of a relationship between XTAL and Dongfang Jingyuan at the time. But the company disclosed that the funding behind XTAL came from China and South Korea, and the goal was to create a competing product to sell to ASML’s customers in South Korea. ASML also revealed that XTAL stole software for mask optimization, a business that is separate from ASML’s main business and accounts for less than 1% of the company’s annual revenue. “Therefore, the media’s claim that ASML’s core technology has been affected is not in line with the facts.”

Conversation between former Chinese and US finance ministers: The biggest challenge in the world is inflation

Former Chinese Minister of Finance Lou Jiwei and former U.S. Treasury Secretary Henry Paulson attended the Global Wealth Management Forum-Shanghai Suhewan Summit in mid-January, and the two participated in a closed-door dialogue event, content on February 11 public.

Lou Jiwei spoke at the meeting on issues such as global inflation, labor shortages, tight supply chains and the energy crisis. He said the woes encountered by the global economy do not fully apply to China. China’s epidemic control measures to prevent imports from abroad and prevent domestic rebounds are relatively effective, and there is no inflation.

He expects that the fiscal and monetary policies of various countries will be adjusted this year, reducing the pressure on price increases, but the biggest uncertainty for the world is still the novel coronavirus pneumonia (COVID-19) epidemic. If the vaccine can be generally and effectively vaccinated, the flow of people and goods can gradually return to normal, and the global recovery will be relatively strong.

Paulson: Worry about tariffs
Paulson agrees that the biggest problem right now is the COVID-19 pandemic. He is concerned about the lack of coordination among countries and the rise of protectionism in this context. He also cautioned that protectionist acts such as tariffs, as well as more and more technology blockades, are in danger of “going to the extreme”. “We need to withstand the pressure of ‘decoupling’, and the global mechanism will become more and more important in the future,” he said.

Lou Jiwei: Pay attention to Fed policy
Lou Jiwei said that if the timing of the exit of fiscal and monetary policies is inappropriate, it may trigger a financial crisis. When he was asked whether the spillover effect from the shift in monetary policy in major economies, represented by the Federal Reserve, would lead to a new round of financial crisis, he said that what should be paid attention to now is that when the ultra-loose monetary policy is withdrawn, it is very It is easy to trigger those possible risks.

“Especially when asset prices in some countries have reached high levels, if the timing, intensity and pace of fiscal and monetary policy withdrawals are improper, it is likely to trigger a crisis,” he said.

He also mentioned that the 2008 global financial crisis was different from the current situation. At that time, Wall Street institutions held a lot of “toxic assets”. Once the chain bankruptcy would bring about a systemic crisis, the solution was completely different from now. Another difference is that the current global leverage ratio is high, and there are not many tools to stimulate economic growth. In this case, the spillover effect of the Fed’s policy shift is also much larger than last time.

Paulson said that financial crises always happen, and after the hard times in 2008, he learned that global coordination is very useful in times of crisis, so the United States and China have dialogues on macroeconomic policy and financial fields. important.

How can China-US cooperation be?
Paulson recalled at the meeting that in 2008 and 2009 he cooperated sincerely with his Chinese counterparts to avoid the more serious impact of the financial crisis. He has since witnessed China escape its own predicament by implementing economic stimulus measures and avoiding a global recession. “We never know when a crisis will come, but we need to be prepared to act quickly,” Paulson said.

Paulson said that although the political systems, values ​​and economic systems of China and the United States are different, there are also very important common interests, such as the issue of climate change and the stability of the global order. Both sides need to develop a framework to determine where and how to compete and cooperate, and how to deal with differences between the two countries.

“Of course we can and must cooperate,” he said, looking forward to seeing more cooperation between the U.S. and China on trade and working together to advance some institutional changes. But for now, the first thing to focus on is working together to tackle the Covid-19 crisis.

Lou Jiwei also agreed that China and the United States have room for cooperation in addressing climate change, public health crises, and security. He also mentioned that some current U.S. practices are not conducive to both China and the U.S., such as imposing additional tariffs on China, which actually increases the burden on U.S. consumers. He said that in this context, the cancellation of tariffs will benefit American consumers and help to suppress the current high inflation in the United States.

The Chinese national team finally came to the rescue of the Chinese stock market, entering the market for the second time in two weeks to stop the decline

The decline in Chinese stocks has worsened as concerns about consumer spending and defaults on real estate debt have worsened, with news that the Chinese national team has stepped in to bail out the market twice in the past few weeks.

Bloomberg reported that the Shanghai and Shenzhen 300 Index edged down only 0.6% at the end of February 8, which was greatly restrained from the 2.4% intraday decline (the largest intraday decline since August 2021). According to sources, several funds with official colors entered the market to buy stocks on the afternoon of the 8th, in order to slow down the decline, and the buying mainly concentrated on financial stocks (including securities companies). Energy, utilities and financial stocks bucked the trend and closed higher on the 8th. The national team entered the market when the Chinese stock market was about to give up all the gains made in the red market on the 7th.

The CSI 300 Index fell into a bear market on the 8th. Zero Hedge reported on the 8th that the national team started on January 27. At that time, seven of the top ten fund management companies in China (including E Fund Asset Management and GF Asset Management) bought Chinese stocks. Not only that, the official media “Securities Times” also called on securities companies, fund managers, insurance companies and other investment institutions to “stand up” and enter the market to support the market when market volatility increases.

Beijing’s government often speaks out through state media, calling on big investors to buy on dips. This verbal intervention suggested that officials were increasingly worried about capital markets and determined to increase support after the PBOC eased monetary policy.

According to reports, the Chinese national team has been very active in recent weeks, very similar to the actions of the Chinese stock market in late July 2021 when Beijing regulation led to a sharp fall in the Chinese stock market and the implosion of Hong Kong technology stocks, which also prompted the Chinese stock market to launch a multi-week rally.

ADR, a Chinese concept stock listed in the United States, jumped on the 8th. Alibaba (Alibaba), Pinduoduo (Pinduoduo), Bilibili (Bilibili), ( ADR rose 6.17%, 12.81%, 7.03%, 3.02% respectively. The KraneShares CSI China Internet ETF jumped 4.08% to end at $37.03.

It is worth noting that a large number of investors rushed into Hong Kong stocks at bargain prices last year. The Financial Times reported on the 7th that 143 ETFs listed in Hong Kong had a net inflow of HK$80 billion (equivalent to US$10.3 billion) last year, more than double the net inflow of HK$40 billion in 2020.

Brian Roberts, head of ETFs at the Hong Kong Stock Exchange, pointed out that thematic ETFs, Hong Kong stock ETFs and China fixed income ETFs were the three categories that attracted the highest amount of money last year.

China eases carbon emissions, iron ore rises above $150

China decided to relax environmental protection restrictions on the steel industry and extended the period of carbon emissions to increase by 5 years. The iron ore price broke the US$150 per ton barrier on the 8th. and Seeking Alpha reported on the 8th that steel manufacturing accounts for about 15% of China’s carbon emissions. The Beijing government announced on Monday that the deadline for the steel industry to peak carbon emissions has been extended from 2025 to 2030.

Xu Xiangchun, an analyst at research firm Mysteel, pointed out that the sharp adjustment to the timetable has given the steel industry more breathing space and the process of peaking carbon emissions will not be out of order. He said rushing to meet carbon targets could result in “an unbearable economic cost”.

Fastmarkets MB quotations show that the quotation of iron ore with 62% iron content imported to northern China reached US$149.64 per ton on the 8th, a new high since August 31, 2021, and has rebounded by more than 70% from the bottom in November 2021. . Singapore iron ore futures rose as much as 3.8% to $153 a tonne on the 8th, hitting a new high since August 31, 2021.

Li Shuo, an analyst at Greenpeace East Asia, warns that after Beijing’s policy turns, China may not be able to reach its 2030 carbon emission peaking target, because traditional production such as steel must peak ahead of time to make room for other still-developing industries such as transportation. Extra discharge space.

It is worth noting that China’s National Development and Reform Commission said on the 9th that it has warned information providers not to expose fake iron ore quotations, and vowed to maintain market stability. This prompted quotes to fall back. Singapore iron ore futures slid to around $144 a tonne earlier on the 9th from $153 on the 8th.

U.S. Justice Department accuses Chinese telecom giant Hytera of stealing Motorola technology

The U.S. Department of Justice has accused Hytera, a major communications company in various countries, of conspiring with former employees of Motorola Solutions to steal Motorola’s digital mobile radio technology (DMR). At present, the U.S. Department of Justice has filed a complaint against Hytera, including a total of 21 criminal charges including conspiracy to steal trade secrets.

According to the indictment against Hytera released by the federal court in Chicago, Illinois, on the 7th, Motorola has developed digital mobile radio technology after years of design and research. During the period from 2007 to 2020, Hytera recruited former Motorola employees through generous salaries and benefits, and instructed them to obtain proprietary commercial confidential information about digital mobile radio technology from Motorola through “unauthorized” methods, in order to speed up the process. Hytera-related product development, training of Hytera’s employees, and marketing and sales of Hytera’s DMR products worldwide.

The U.S. Department of Justice said the indictment charges Hytera on 21 criminal counts including conspiracy to steal trade secrets. If Hytera is convicted, it could face a fine of three times the value of the trade secrets stolen, including research, design and other related costs.

In this regard, Mark Hacker, executive vice president of Motorola Solutions, pointed out that the U.S. Department of Justice’s charges against Hytera reflect that these illegal actions were carefully planned, and will continue to file lawsuits against Hytera globally in the future to prevent the company from continuing infringement. Hytera expressed disappointment and disapproval of the allegations made by the US Department of Justice.