Caixin
Dec 12, 2018 06:08 PM
YOUR BRIEFING

Wednesday Tech Briefing: Huawei CFO Allowed to Post Bail After Three-Day Hearing

1. Huawei CFO Allowed to Post Bail of Can$10 Million After Three-Day Hearing

Huawei CFO Meng Wanzhou was granted bail by a Canadian court after a three-day hearing that followed her arrest in Vancouver at the request of U.S. authorities.

The court ruled that Meng could be released on a Can$10 million ($7.5 million) surety and on the condition that she remain in Vancouver, where she owns two homes, while she awaits extradition proceedings on U.S. fraud charges.

In an interview with Reuters on Tuesday, Trump said he might intervene in the Justice Department's case against Meng if it could help close a deal between China and U.S. (Caixin, Reuters)

2. Didi Drivers Can Now Say No to Drunk Passengers

Didi drivers in China's southern city of Shenzhen can now report and cancel rides on a drunk passenger, the ride hailing giant said Tuesday.

The trial of new rules is Didi's response to driver's complaints of drunk passengers. The company said it receives an astounding 30,000 complaints per day.

Didi is under harsh criticism by authorities and the public for lack of forceful security measures, following two murders by drivers earlier this year. (Caixin)

3. Consumers Get Ready for Another Major Online Sales Day

Close to 100 million consumers have loaded at least 15 items into their carts to prepare for "Double 12," e-commerce platform Alibaba announced ahead of the sales event Tuesday.

Consumers born after 1995 reserved 45 items on average, making them the most active users, while those born in the 60s and 70s have on average loaded 11 items.

"Double 12," which takes place about one month after November’s Singles Day on Dec. 12, is another major online sales event created by platforms including Alibaba, Alipay, and offline vendors. (BJ News, link in Chinese)

4. Debt-Ridden Gionee Unveils Restructuring Proposal

Pioneering Chinese smartphone maker Gionee Communication unveiled a bankruptcy reorganization plan on Monday, after a year-long debt crisis left 648 creditors waiting to recoup some of nearly 20 billion yuan ($2.9 billion) of debts.

Most of the creditors agreed with the bankruptcy reorganization, with restructuring details to be finalized, Caixin learned.

Once among the top 5 domestic smart phone manufacturers, the company has been in free-fall since last December, reflecting market loss to bigger players and years of debt-fueled expansion. (Caixin)

5. Japan’s Three Biggest Telecom Networks Shun Huawei Products

Japan’s three largest telecom network operators have decided to not use products made by China’s Huawei, local media outlet Kyodo News reported on Monday, citing anonymous company sources.

The move comes after Japan reportedly said last week that it is drafting guidelines that will prevent government departments and the military from using telecom equipment from Huawei and ZTE.

If true, this would further set back Huawei’s global ambitions. The company has already been locked out of the U.S., Australia and New Zealand due to national security concerns. (Caixin)

6. Mobike Faces Probe by Germany Data Protection Regulator

Germany’s data protection regulator is launching a probe into bike-sharing companies including Mobike, according to Financial Times.

A major concern is whether bike sharing platforms have been logging location information even when users are not riding. Mobike may face additional problems since it transfers data it collects in Europe to China.

Mobike has entered 23 European cities including London, Paris, and Madrid, facing challenges such as thefts and vandalism. (Financial Times)

Compiled by He Shujing

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