The US Federal Communications Commission ejected Pacific Networks Corp (太平洋網路) and ComNet (USA) LLC from the US market, continuing a series of bans of Chinese telecoms over security concerns.
Wednesday’s 4-0 vote follows the agency’s January decision to bar China Unicom Hong Kong Ltd (中國聯通) from the market. The agency last year barred China Telecom (Americas) Corp, and earlier it refused to let China Mobile Ltd (中國移動) enter the US market.
The move shows that potential espionage and data theft by Chinese state-owned companies remains a concern under US President Joe Biden after being elevated as an issue by the previous US
China Huarong Asset Management Co said on Monday that it will sell a 70% stake in its consumer finance unit for 1.1 billion yuan to Bank of Ningbo, as Huarong continues to divest assets as part. | December 27, 2021
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