Hong Kong to attempt something which competes with the mainland solution
That's a bold strategy. Let's see how it works for them.
Hong Kong has revealed a strategy to give its financial services sector a fintech infusion. The sector is important to Hong Kong, as it accounts for around 20 per cent of GDP and seven per cent of employment. Hong Kong’s also important to China, as its markets are more open to the world than the Middle Kingdom’s own stock …
China's internet regulator has launched an investigation into the security regime protecting academic journal database China National Knowledge Infrastructure (CNKI), citing national security concerns.
In its announcement of the investigation, the China Cyberspace Administration (CAC) said:
China's government has outlined its vision for digital services, expected behavior standards at China's big tech companies, and how China will put data to work everywhere – with president Xi Jinping putting his imprimatur to some of the policies.
Xi's remarks were made in his role as director of China’s Central Comprehensively Deepening Reforms Commission, which met earlier this week. The subsequent communiqué states that at the meeting Xi called for "financial technology platform enterprises to return to their core business" and "support platform enterprises in playing a bigger role in serving the real economy and smoothing positive interplay between domestic and international economic flows."
The remarks outline an attempt to balance Big Tech's desire to create disruptive financial products that challenge monopolies, against efforts to ensure that only licensed and regulated entities offer financial services.
The Cyberspace Administration of China has announced a policy requiring all comments made to websites to be approved before publication.
Outlined in a document published last Friday and titled "Provisions on the Administration of Internet Thread Commenting Services", the policy is aimed at making China's internet safer, and better represent citizens' interests. The Administration believes this can only happen if comments are reviewed so that only posts that promote socialist values and do not stir dissent make it online.
To stop the nasties being published, the policy outlines requirements for publishers to hire "a review and editing team suitable for the scale of services".
The US Department of Defense said it's investigating Chinese disinformation campaigns against rare earth mining and processing companies — including one targeting Lynas Rare Earths, which has a $30 million contract with the Pentagon to build a plant in Texas.
Earlier today, Mandiant published research that analyzed a Beijing-linked influence operation, dubbed Dragonbridge, that used thousands of fake accounts across dozens of social media platforms, including Facebook, TikTok and Twitter, to spread misinformation about rare earth companies seeking to expand production in the US to the detriment of China, which wants to maintain its global dominance in that industry.
"The Department of Defense is aware of the recent disinformation campaign, first reported by Mandiant, against Lynas Rare Earth Ltd., a rare earth element firm seeking to establish production capacity in the United States and partner nations, as well as other rare earth mining companies," according to a statement by Uncle Sam. "The department has engaged the relevant interagency stakeholders and partner nations to assist in reviewing the matter.
A Chinese state-backed startup has hired legendary Japanese chip exec Yukio Sakamoto as part of a strategy to launch a local DRAM industry.
Chinese press last week reported that Sakamoto has joined an outfit named SwaySure, also known as Shenzhen Sheng Weixu Technology Company or Sheng Weixu for brevity.
Sakamoto's last gig was as senior vice president of Chinese company Tsinghua Unigroup, where he was hired to build up a 100-employee team in Japan with the aim of making DRAM products in Chongqing, China. That effort reportedly faced challenges along the way – some related to US sanctions, others from recruitment.
Chinese telecom equipment maker ZTE has announced what it claims is the first "cloud laptop" – an Android-powered device that the consumes just five watts and links to its cloud desktop-as-a-service.
Announced this week at the partially state-owned company's 2022 Cloud Network Ecosystem Summit, the machine – model W600D – measures 325mm × 215mm × 14 mm, weighs 1.1kg and includes a 14-inch HD display, full-size keyboard, HD camera, and Bluetooth and Wi-Fi connectivity. An unspecified eight-core processors drives it, and a 40.42 watt-hour battery is claimed to last for eight hours.
It seems the primary purpose of this thing is to access a cloud-hosted remote desktop in which you do all or most of your work. ZTE claimed its home-grown RAP protocol ensures these remote desktops will be usable even on connections of a mere 128Kbit/sec, or with latency of 300ms and packet loss of six percent. That's quite a brag.
The US arm of Chinese social video app TikTok has revealed that it has changed the default location used to store users' creations to Oracle Cloud's stateside operations – a day after being accused of allowing its Chinese parent company to access American users' personal data.
"Today, 100 percent of US user traffic is being routed to Oracle Cloud Infrastructure," the company stated in a post dated June 18.
"For more than a year, we've been working with Oracle on several measures as part of our commercial relationship to better safeguard our app, systems, and the security of US user data," the post continues. "We still use our US and Singapore datacenters for backup, but as we continue our work we expect to delete US users' private data from our own datacenters and fully pivot to Oracle cloud servers located in the US."
Executives at China's Blockchain-based Service Network (BSN) – a state-backed initiative aimed at driving the commercial adoption of blockchain technology – labelled cryptocurrency "the biggest Ponzi scheme in human history" in state-sponsored media on Sunday.
"The author of this article believes that virtual currency is becoming the largest Ponzi scheme in human history, and in order to maintain this scam, the currency circle has tried to put on various cloaks for it," wrote Shan Zhiguang and He Yifan in the People's Daily.
He Yifan is the CEO of startup Red Date Technology – a founding member and architect behind BSN – where he serves as executive director. Co-author Zhiguang Shan is chair of the BSN Development Alliance.
Pic When space junk crashed into the Moon earlier this year, it made not one but two craters on the lunar surface, judging from images revealed by NASA on Friday.
Astronomers predicted a mysterious object would hit the Moon on March 4 after tracking the debris for months. The object was large, and believed to be a spent rocket booster from the Chinese National Space Administration's Long March 3C vehicle that launched the Chang'e 5-T1 spacecraft in 2014.
The details are fuzzy. Space agencies tend to monitor junk closer to home, and don't really keep an eye on what might be littering other planetary objects. It was difficult to confirm the nature of the crash; experts reckoned it would probably leave behind a crater. Now, NASA's Lunar Reconnaissance Orbiter (LRO) has spied telltale signs of an impact at the surface. Pictures taken by the probe reveal an odd hole shaped like a peanut shell on the surface of the Moon, presumably caused by the Chinese junk.
A state-sponsored Chinese threat actor has used ransomware as a distraction to help it conduct electronic espionage, according to security software vendor Secureworks.
The China-backed group, which Secureworks labels Bronze Starlight, has been active since mid-2021. It uses an HUI loader to install ransomware, such as LockFile, AtomSilo, Rook, Night Sky and Pandora. But cybersecurity firm Secureworks asserts that ransomware is probably just a distraction from the true intent: cyber espionage.
"The ransomware could distract incident responders from identifying the threat actors' true intent and reduce the likelihood of attributing the malicious activity to a government-sponsored Chinese threat group," the company argues.
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