Ministry of Industry and Information Technology

MNCs in the News-2017-03-31

Chinese government financial institutions intensify their backing for China’s “Made in China 2025” initiative and press non-governmental bodies to increase their support. Chinese law on joint ventures with specific requirements regarding new energy vehicles alarms foreign carmakers which fear they will be required to transfer technology. Beijing Intellectual Property Court supports Apple on design patent dispute with Shenzhen Baili. United States Trade Representative office issues report on trade barriers, highlighting many problems relating to China’s treatment of American companies in China. Chinese officials continue to defend their intensified oversight of Chinese outward investment. Tsinghua Unigroup garners massive new aid pledges from the China Development Bank and China national chip fund. Myanmar reportedly will restart construction on a China financed oil pipeline. Last week, the Chinese business community in Kenya establishing a lobbying group. Westinghouse’s bankruptcy filing means troubled Toshiba faces a potential net loss of USD $9 billion net loss in 2016. Russia and Japan discuss plans for investment projects and other joint cooperation on the disputed Kuril Islands. SK Innovation Co. freezes the operations of its battery packing plant in China, denying they relate to Chinese economic sanctions against Korea. Doosan Heavy Industries & Construction Co. secures Saudi Arabia seawater desalination deal worth over USD $400 million. Mining giant PT Freeport Indonesia agrees to convert its contract of work into a special mining permit, providing a potential basis for a settlement of its disputes with the Indonesia government.

MNCs in the News-2017-03-24

The Information Technology & Innovation Foundation (United States) has called for global action in the face of China’s Made in China 2025 plan. Chinese Ministry of Industry and Information Technology (MIIT) official defends his country’s “Made in China 2025” plan. China’s Food and Drug Administration issues draft policy that would allow foreign drugs to be tested and approved much more quickly in China. During a visit to China, Apple CEO Tim Cook announces Apple will open new R&D centers in Shanghai and Suzhou. Microsoft touts the development of a China-specific Windows 10 operating system that is “secure and controllable.” Chinese government agencies are working on a policy that would specify those sectors where outward foreign direct investment (FDI) was encouraged and those where it was restricted. Tokyo says it does not plan to support troubled Toshiba and that it will share information with Washington about Toshiba and its bankrupt US nuclear division. Japanese and Russian officials meet to discuss ways to jointly develop the islands off Hokkaido they both claim. South Korea asks the World Trade Organization to review Chinese sanctions against Korean companies relating to its deployment of THAAD. South Korea’s SK Engineering & Constructions partners with Turkey’s UNIT International to win multi-billion dollar power plant construction project in Iran. Energy firms urge Indonesian government to enhance its policies in the upstream and downstream oil and gas sectors.

MNCs in the News-2015-01-30

United Nations Conference of Trade and Development (UNCTAD) data shows China reigns supreme in terms of inward foreign direct investment (FDI). Despite concerns, business and reform motives drive China’s Ministry of Finance to approve Chia Tai Bright Investment Co. Ltd.’s joint venture (JV) 20 percent stake in Citic Ltd. China moves to intensify support for domestic semiconductor sector to increase information security and advance domestic innovation. Information security in the banking sector becomes a priority for the China Banking Regulatory Commission (CBRC) raising new challenges for foreign firms. China’s requirements for foreign information technology company information disclosures provoke foreign business complaints and calls for “urgent discussions.” Ministry of Industry and Information Technology (MIIT) representative says blockage of VPNs part of measures China adopting to protect Internet security. China will boost the internationalization of its firms through various measures and money. China and African Union sign Memorandum of Understanding (MOU) to advance China’s involvement in African infrastructure and continental integration. Japanese auto parts maker Sanden settles pricing fixing case with the US Justice Department. The Korean Fair Trade Commission (KFTC) probes 5 Japanese and German auto parts companies for price fixing. Seoul awards multiple trillion won public safety network contract to Huawei.