Home 

Stocks Blog: China markets fall as Trump targets mainland surveillance camera makers

Good morning, traders. China’s surveillance camera sector is now in the Trump spotlight. In addition to Hikvision Digital, which fell yesterday on news reports it was being targeted, Megvii, Zhenjiang Danhua Technology, Meiya Pico and Iflytek could be banned from U.S. components or software, Bloomberg reports. We’ll keep you up on the fallout in markets from the new tech storm added to the tariff tornado, plus the latest on rare earth-linked stocks, which are getting a new boost from… Source link

Read More
Home 

US widens its campaign against Chinese tech companies with eye on surveillance firms

Hikvision’s presence loomed large at a security exposition last month in Hangzhou, taking up the entire upper floor of the convention centre. On the ground floor, Dahua Technology, its smaller rival, shared space with other security technology companies. Luminescent displays of road traffic flows, emergency response statistics and crime reports greeted the hundreds of trade visitors.Hikvision and Dahua now find themselves in the crosshairs of the US government, which is said to be considering… Source link

Read More
Home 

How 9/11 and China’s plan for blanket surveillance helped Hikvision and Dahua dominate the global CCTV camera market

China is famous for its one-industry towns. Gurao in southern Guangdong province is known for making bras. Qiaotou in Zhejiang province produces most of the world’s buttons. The city of Tianjin to the north is a major manufacturer of bicycles.Then there is Hangzhou’s Binjiang district, east of the Qiantang River that winds through the city, about 10 kilometres from the famed West Lake, a Unesco World Heritage Site. Once mostly farmland, the Binjiang district is now home to many manufacturers,… Source link

Read More
Home 

Chinese surveillance camera supplier Hikvision posts slowest profit growth in a decade

Hangzhou Hikvision Digital Technology, a key camera supplier for China’s surveillance system, reported the slowest annual pace of profit growth in more than a decade amid growing headwinds in overseas markets. Net income in 2018 rose 20.5 per cent to 11.3 billion yuan (US$1.76 billion), the Hangzhou-based company said in a filing to the Shenzhen Stock Exchange on Thursday. Revenue climbed 23 per cent to 51.2 billion yuan. The company said it maintained a high level of investment into research development while continuing to develop domestic and overseas markets. Its…

Read More
Home 

Former UK surveillance head says calls to freeze Chinese companies out of telecoms in Western countries are “short on technical understanding”

Britain’s former surveillance chief has characterised the “chorus of voices” calling for a blanket ban on Chinese companies like Huawei Technologies from telecommunication networks in Western countries amid perceived cyber threats as being “short on technical understanding” of cybersecurity and the complexities of 5G networks. While the Government Communications Headquarters’s National Cyber Security Centre “has been blunt about Huawei’s shortcomings in security engineering and in its general attitude to cybersecurity,” it has “never found evidence of malicious Chinese state cyber activity through Huawei,” Robert Hannigan, who was director of GCHQ…

Read More
Home 

How Silicon Valley’s ‘surveillance capitalism’ is enriching its leaders and making us their pawns

“They know everything about us, while their operations are designed to be unknowable to us. They predict our futures and configure our behaviour, but for the sake of others’ goals and financial gain. This power to know and modify human behaviour is unprecedented.” This is Shoshana Zuboff, Charles Edward Wilson Professor Emerita at Harvard Business School, and no, she is not talking about George Orwell’s 1984 or Aldous Huxley’s Brave New World. Nor about dark Communists at the heart of Beijing, or spies in the Kremlin. She is talking about…

Read More
China 

China, US set to join talks at WTO aimed at limiting government surveillance of private data

China and the United States are to take part in groundbreaking talks on restricting government surveillance of private companies’ e-commerce data. A proposal to this effect will be introduced by Australia, Japan and Singapore this month, according to the Nikkei Asia Review. The proposed ruling, which has been in the works for some years, will make it illegal for governments to force companies to reveal proprietary secrets such as source codes and algorithms, the Japanese publication reported. IP and tech control will continue to inflame US-China relations, whatever the outcome…

Read More
Investment 

China’s two largest surveillance camera makers take a beating from US ban

Investors on Friday dumped shares of the world’s top two security camera makers – Hangzhou Hikvision Digital Technology and Zhejian Dahua Technology – after they warned that a move to ban the use of Chinese made surveillance equipment by the US federal government could have wider ramifications on their business. The US Senate passed the 2019 National Defense Authorization Act on Wednesday, under which the US government will be banned from buying Chinese-made surveillance equipment from several Chinese firms. The US president is yet to sign the bill into law.…

Read More