Sino-File

Your country on the line
Your country on the line
Jun 19, 2020 (WiC 500)
“The fact that BT and Vodafone think their own interests overwhelm the national security interests of this country doesn’t reflect very well on their managements”

UK politician and former Brexit Secretary David Davis tells the Sunday Times that the two telcos are “addicted” to Huawei kit. This came after they warned of mobile phone blackouts if Huawei equipment had to be ripped out of their networks by 2023.

China’s John Lewis
China’s John Lewis
Jun 12, 2020 (WiC 499)
“There are still lots of people, including the public, politicians and officials in government who wrongly see Huawei as a state-owned company”

Huawei vice-president Victor Zhang tells the Financial Times that Huawei is a private company. He added that Huawei was owned by its employees “similar to the John Lewis model”. Huawei has embarked on a major advertising campaign stressing its commitment to Britain over the past 20 years.

Clearing the field
Clearing the field
Jun 5, 2020 (WiC 498)
“The epidemic will force the weaker companies and farmers to completely withdraw but it will be an opportunity for profit and development of the stronger companies”

Comment by Qin Yinglin, founder and owner of pig farming giant Muyuan Foods. A combination of last year’s swine flu and the coronavirus have seen pork prices surge leading to an 863% rise in Muyuan’s profit in the first quarter, according to the Financial Times. The Hurun Report estimates his net worth at $22 billion “making him the world’s richest farmer” (for our first mention of Muyuan, see WiC496).

Couture under Covid
Couture under Covid
May 29, 2020 (WiC 497)
“Because of the pandemic people spend less on apparel, on fashion – people wear face masks and they don’t even need make-up”

Alibaba’s chief executive Daniel Zhang comments on the site’s fall in sales of clothing, accessories and home furnishings in the first quarter. By contrast the e-commerce giant saw sharp rises in grocery sales and cloud computing revenues, with overall quarterly revenues up 22% to Rmb114.3 billion ($16 billion).