Jul 07, 2020
TikTok: application suspended in Hong Kong
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Due to the security law imposed by China, TikTok announced the withdrawal of its application in Hong Kong on the evening of Monday July 6.
Unlike mainland China, Hong Kong has unlimited Internet access. But the Chinese Parliament recently passed national security legislation for the territory, paving the way for radical changes.
>>> Hong Kong: National security text adopted by Chinese parliamentA decision after the introduction of the new national security law in Hong Kong
Following this national security law, TikTok, a mobile video sharing application developed by the Chinese company ByteDance, said the latter withdrew from Hong Kong. “In light of recent events, we have decided to stop the TikTok app in Hong Kong,” said a spokesperson.Complete shutdown of the app in the coming days
According to Les Echos, the application TikTok, especially popular with the youngest, will be removed from the Android and Apple app stores in the coming days. The full stop will take some time, but the Hong Kong people will soon no longer have access to it.
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News Source: cvbj.biz
China trade groups warn CHIPS Act will increase competition and conflict
Two Chinese trade associations have slammed the recently passed CHIPS Act that will provide billions of dollars in funding to help the United States compete with China in technology development.
The China Council for the Promotion of International Trade and the China Chamber of International Commerce released a press statement condemning the Biden-signed piece of legislation, arguing that it will intensify semiconductor-related competition between the two countries, hinder economic recovery, and diminish innovation between the two countries.
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"On the one hand, [CHIPS] is a typical industry-specific subsidy, which does not conform to the non-discrimination principle of the World Trade Organization. On the other hand, the bill identifies particular countries as key targets, which leads companies to be forced to adjust their global development strategies and layouts," the two associations argued in a statement released to the Chinese Communist Party-affiliated China Daily.
The CHIPS Act includes a section that would prevent funding from going to companies that are expanding semiconductor manufacturing in "countries of concern" as defined by the State Department, such as China or Iran. The bill gives a broad definition of "country of concern," according to the two trade groups. They claim that this would expand the U.S.'s ability to enforce laws related to the legislation and limit the ability of other companies and countries to compete. That is why the two organizations are calling on businesses worldwide to work together to counter the effects of the CHIPS Act.
The council and chamber are not the first Chinese organizations to attack the CHIPS Act. The Chinese Ministry of Commerce said in a July 30 statement that the semiconductor funding would disrupt the global semiconductor industry and harm international trade.
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President Joe Biden signed the CHIPS Act into law on Tuesday, sending hundreds of billions of dollars into the semiconductor and innovation industry to challenge China's technological prowess. "Today, I'm signing into law the CHIPS and Science Act, a once-in-a-generation investment in America itself, a law that the American people can be proud of," Biden said during the signing ceremony.
Semiconductors are crucial for constructing electronics, but factories have struggled to keep up with market demand. The CHIPS Act would provide $52 billion to semiconductor factories and billions more to fund innovation, research, and technological developments in the U.S.China News Technology Semiconductor