Huawei opens new research center in France
Chinese tech giant Huawei opened a new research and development center in France in a bid “to support companies in their digital transformation project”, it announced in a statement on Nov 28. Located in Grenoble, southeastern France, Huawei’s fifth R&D Center “will bring together up to 30 researchers by 2020 working on topics related to sensors and software”, it said. According to Huawei, the center was “a positive result” of three years of scientific cooperation with ST Microelectronics, its first French technology partner. Weiliang Shi, Huawei France’s general director, said: “For us, this means constant investments in favor of innovation and daily commitment to the French economic fabric. We are proud to contribute to the digital ecosystem in France.” The Ministry of Transport said on Nov 28 that the “hitch” service of Didi Chuxing, China’s largest mobile ride-hailing platform, would remain offline until safety hazards are corrected. The requirement came after an in-house joint inspection by 10 departments in September of eight major players in the ride-hailing industry, including Didi, for safety loopholes and problems concerning the safety of passengers. The inspectors found several safety risks in the hitch service, including the risks of leaking passenger private information and irregular operations of fund clearing, the MOT told a media briefing. The inspection group also found illegal operations of Didi’s mobile ride-hailing service, since a large number of autos in use and drivers employed by the company were unqualified. “Didi’s management loopholes were also exposed in the inspection, such as inadequate assessment of drivers’ professional qualification and background information, posing a threat to public safety,” the ministry said. Besides suspending the hitch service, the inspectors also called for punishment of Didi executives by local administrators and required the company to stop illegal advertisements. Industrial and Commercial Bank of China and Agricultural Bank of China, both among China’s largest lenders, said on Nov 26 that they would establish subsidiaries focusing on the wealth management business. The wealth management subsidiary of ICBC will be established with registered capital of 16 billion yuan ($2.3 billion; 2 billion euros; £1.7 billion), while ABC’s will have registered capital of 12 billion yuan, the two companies said in separate statements to the Shanghai Stock Exchange.