Huawei opens new re­search cen­ter in France

China Daily European Weekly - - Business - Didi ‘hitch’ ser­vice sus­pended Banks set up wealth man­age­ment units

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.

Newspapers in English

Newspapers from China

© PressReader. All rights reserved.