China creates a $50bn tech 'aircraft carrier' by merging two state-controlled entities
- Reference: 1614585008
- News link: https://www.theregister.co.uk/2021/03/01/potevio_cetc_merger/
- Source link:
The [1]announcement [PDF] was made by Eastern Communications, a subsidiary of Potevio that said its parent will re-organise and merge with China Electronics Technology Group Corporation (CETC).
[2]
That’s big news because both Potevio and CETC are state-owned companies that are controlled and directed by China’s State-owned Assets Supervision and Administration Commission (SASAC).
SASAC’S Chairman Hao Peng last week delivered a speech outlining how state-controlled companies will help China to meet the goals of the fourteenth five-year plan, which includes an aim to build more key technologies locally and a pledge to accelerate China’s R&D effort.
[3]
[4]Potevio makes telecoms equipment, including 5G,and also offers servers, storage, automatic teller machines and plenty more. CETC is a key supplier to China’s Beidou satnav constellation, has operated colossal drone swarms and is known to provide software and services to China’s military. The company also helped to develop a China-friendly version of Windows.
And soon the two companies will become one.
Redmond puts wall around Windows 10 for Chinese government edition [5]READ MORE
State-controlled outlet Sina Finance [6]described the merged companies as a "communications aircraft carrier”, such will be its power and reach.
The new entity will boast revenue over $50bn, making it China’s second-largest tech company by revenue with only Huawei’s ~$135bn out in front and Lenovo in the same revenue neighbourhood.
While Potevio celebrates its export successes, The Register suggests the new company might perhaps be a little inward-facing as CETC made the USA’s “thou shalt not invest in this military-linked Chinese company” list and the world tends to be a little wary of 5G from China.
[7]
SASAC hasn’t said just what it expects the combined companies to deliver, but Hao Peng gave all State-owned enterprises the goal of growing faster than the national economy, improving profit margins, boosting R&D, and enhancing employee productivity. ®
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[1] http://static.sse.com.cn/disclosure/listedinfo/announcement/c/new/2021-02-25/600776_20210225_1.pdf
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YDzJTJ7VwBQrTJy0ZWzR3QAAAMk&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33YDzJTJ7VwBQrTJy0ZWzR3QAAAMk&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[4] http://www.potevio.com/
[5] https://www.theregister.com/2017/05/23/redmond_puts_wall_around_windows_10_for_chinese_government_addition/
[6] https://finance.sina.com.cn/roll/2021-02-25/doc-ikftssap8599475.shtml
[7] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_onprem/front&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44YDzJTJ7VwBQrTJy0ZWzR3QAAAMk&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[8] https://whitepapers.theregister.com/
That post is worthy of a downvote, FlamingDeath, for the stereotypical flaming.
Well done 'FlamingDeath' that is a nice wind up. But sadly, I'll still have to give you a down vote, for being so many years out of date.
Every Cloud has a Silver Diamond Encrusted Lining?
While Potevio celebrates its export successes, The Register suggests the new company might perhaps be a little inward-facing as CETC made the USA’s “thou shalt not invest in this military-linked Chinese company” list and the world tends to be a little wary of 5G from China.
That will surely not be worry China a jot ..... being denied investors taking orders from USA lackeys.
"In 2013, 57 percent of loans went to private firms and 35 percent to state-controlled firms. By 2016, there had been a stunning reversal; state firms received 83 percent of loans, compared with 11 percent for private firms. Much of this lending came from state-owned banks." - according to a 2019 Robert Samuelson article in the WP.
Somewhere down the line that's going to stifle their economy.
Especially with the Chinese business approach to truthfulness.
What did you expect?
The US took away their proverbial football so the Chinese just brought their own, probably better, ball to the game.
Yo, Yanks...Stupid is as stupid does.
It'll be your own fault if you let that orange idiot run for office again in 4 years time.
/rant over.
CHINA!!!
Have they found any tasty pangolins on the moon?
Kinda shows, doesn’t matter how backwards you are, any cunt can make it to the moon.
One thing is probably true, the “made in china” on the moon is probably the best workmanship they’ve ever done, but dont expect this quality to transpire to their exports, nope, we’re still gonna get the poisoned childrens toys and dangerous unsafe electronics