‘China’ Tagged Posts

China says tech firms have nothing to fear from anti-terror law

The law draft anti-terrorism cause concern in Western capitals as the technology companies may need to "agter Deure" install products or deliver se...

 

China says tech firms have nothing to fear from anti-terror law

The law draft anti-terrorism cause concern in Western capitals as the technology companies may need to “agter Deure” install products or deliver sensitive information such as cryptographic keys to the government.

The law is currently busy with another reading at the last meeting of the standing committee of China’s largely rubber-stamp parliament, the National People’s Congress, which ends on Sunday.

This week, the US State Department said it had expressed “grave concern” about the law that China would do more harm than good to the threat of terrorism.

Chinese Foreign Ministry spokesman Hong Lei said he was “dissatisfied” with the US position and hoped they respected China law process and does not take “double standard.”

China faced a serious threat of terrorism and what is needed to improve its legal framework to deal with the problem, Hong added.

“What we do is reasonable and fair,” he said.

Terrorists have already operated with the help of the Internet and China to necessary laws with this, Hong added.

“While the wording of the law, to the laws of other countries, including the United States, we refer,” he said, pointing to the US Communications Assistance for Law Enforcement Act, an eavesdropping law.

“The concept of our anti-terrorism legislation requires the obligation of telecommunications operators, Internet servers and providers to help stop public and state security organ and investigating terrorist activities,” Hong added.

“It is both entirely rational and necessary. This rule will not restrict the legitimate business activity, not a ‘backdoor’ and freedom of speech will not be the companies do not affect Internet intellectual property. “

Officials in Washington argued the law, coupled with a new concept banking and insurance regulations and a host of anti-trust investigation, unfair regulatory pressures focus foreign companies.

China in July, the national security law, all major network infrastructure and requires information systems “secure and verifiable” be.

The US also said the new law may restrict freedom of expression and association.

Hong said China pays great attention to the relationship between fighting terrorism and protecting the human rights and will ensure people’s rights are protected.

Officials say China faces a growing threat from militant and independence, particularly in the unruly western region of Xinjiang, where hundreds died in violence in recent years.

The law groups, though, doubt the existence of a coherent militant group in Xinjiang, saying the unrest stems mostly from anger among the region’s Muslim Uighur people about restrictions on their religion and culture.

(Reporting by Ben Blanchard; Editing by Nick Macfie)

China 360buy’s fundraising drive highlights IPO urgency

 

China 360buy's fundraising drive highlights IPO urgency

Chinese firm purchases online 360buy losing money, you need huge injections of money to feed its supply chain and cost rival Alibaba Group has more than doubled its market share.

left with one option -. Float before Taobao is

Analysts believe

a fundraising frenzy that attracted more than $ 2 billion in 18 months shows that s’ ready to do that.

His last series, where he announced Monday, has led to $ 700 million from Saudi Arabia, Prince Alwaleed bin Talal, and the Ontario Teachers Pension Fund tiger among investors.

“360buy the IPO in the next 6-12 months. Elan This is a question that is to say that they should try to get out before IPO Taobao and sucks all the oxygen out of the room,” said Michael Clendenin , managing director of consultants Redtech.

360buy

declined to comment on the IPO plans and evaluation.

Ontario stated that the last fundraising 360buy value of about $ 8 billion.

Alibaba Group, which owns Taobao Taobao Mall and Market, also declined to comment on the plans for IPO. However, in case of purchase of own shares Yahoo Inc. has signed last year, Yahoo has offered incentives such as Alibaba lists by the end of 2015.

If

360buy’s first engine, it can attract investors who want exposure to e-commerce in China. Be the first is crucial because the market is much preferred Taobao business model, and pounce on his actions they were selling, analysts say.

“I will be the Alibaba Group to buy, rather than 360buy. It is safer compared with 360buy” said Elinor Leung, head of Asia and the telecommunication the internet looking for brokerage CLSA.

“In terms of market share, Alibaba is the largest and strategy … not directly invest in costly logistics networks, but works as a platform for fair,” she said.

INCOME THIS YEAR

Taobao Mall owned 51 percent of China’s business-to-consumer market, while 360buy was 16 percent in the fourth quarter of 2012, according to data from Analysys International.

Taobao Mall has thousands of online stores, including Nike Inc. and Gap Inc. on its platform involved in the delivery itself, and makes money from advertising and subscriptions.

However, 360buy is a vendor-Amazon direct style that is competitive with stores such as Gome and Suning, which means that it must flow in warehouses in cash, shares and delivery.

Last August, CEO Richard Liu said he did not intend to make a profit on household electronics, a significant portion of its revenues for three years. But in January, said Liu 360buy profitable in the fourth quarter generally seen as a sign of the company quickly prepares to launch a share sale.

Alibaba Group, which Taobao Mall, Taobao and Alibaba.com property market is already profitable. In During the quarter April to June last year, it has more than doubled its net profit to $ 273 million in sales of which rose 71 percent.

While Taobao

money, 360buy costs. Cash, he appealed to be used to fund activities and investments, the company said.

Most of these investments in the logistics network and warehouse. Company has a team of more than 10,000 e-mail to be delivered in 360 Chinese cities, which are part of a plan to the point of the last delivery of the goods to check before returning buyers: a giant company is a huge country China

.

“360buy need a huge amount of money to spend in the construction of the logistics. Is this the right way? Amazon is like trying to connect the UPS to start,” said Clendenin Redtech the.