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China's Commerce Ministry stated on Thursday that it would take the 'necessary' measures in response to the United Kingdom's ban on Huawei Technologies Co Ltd (HWT.UL). The government agency said that it would severely damage China's investment confidence in the country.
"China is evaluating the U.K. actions that have betrayed free trade principles and will take necessary measures to resolutely defend Chinese firms' legal rights," China's Commerce Ministry Spokesman Gao Feng said during a press briefing.
On Wednesday, China warned British Prime Minister Boris Johnson that his decision to ban Huawei from the United Kingdom's 5G network would significantly dent the British-Chinese investment relations.
United Kingdom's Culture Secretary Oliver Dowden said that mobile network operators in the country would be forced to stop buying equipment from Huawei by the end of the year. He also added that they would be required to strip out all Huawei gears from their infrastructure by 2027.
"This has not been an easy decision, but it is the right one for the U.K.'s telecoms networks, for our national security and our economy both now and indeed in the long run," Dowden said in an interview with some lawmakers.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
Oil prices rose on Friday as the dollar dropped to a near two-year low, but demand worries amid rising coronavirus cases and the worsening U.S.-China tensions capped gains. Brent crude gained 0.4%, or 15 cents, at $43.46 per barrel. U.S. West ...
KYC Policy