Central News Hub

Category: China

  • Xi calls for ‘breakthroughs in reform’

    Xi calls for ‘breakthroughs in reform’

    Xi, also the general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks recently while presiding over the 17th meeting of the central committee for deepening overall reform…reports Asian Lite News

    Chinese President Xi Jinping has stressed on concerted efforts to make greater breakthroughs in reform at China’s new development stage.

    Xi, also the general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, made the remarks recently while presiding over the 17th meeting of the central committee for deepening overall reform, reports Xinhua news agency.

    Li Keqiang, Wang Huning and Han Zheng, all members of the standing committee of the political bureau of the CPC Central Committee and deputy heads of the central committee for deepening overall reform, attended the meeting.

    The meeting reviewed a summary and evaluation report on deepening overall reform since the third plenary session of the 18th CPC Central Committee.

    The meeting also reviewed and approved a series of guidelines and plans on integrating the party’s leadership into corporate governance of centrally administered state-owned enterprises (SOEs), developing an economic system for green and low-carbon circular development, law-based environmental information disclosure, administrative data sharing, deepening reforms on budget management, enhancing ideological and political work, improving tax law enforcement, and the establishment of a financial court in Beijing.

    Chinese President Xi Jinping


    Xi said reforms over the years have witnessed the development of a series of innovative theories, the launch of a host of major initiatives, and a raft of major breakthroughs, all of which are revolutionary and have broken new ground in advancing the causes of the Party and the country toward historic achievements and changes through reform and opening-up.

    He added that the reforms have brought about profound changes in the ideological and theoretical field, organizational structure as well as the state and governance systems, with extensive public participation.

    Xi stressed that China still faces complex contradictions and problems on the road to reform.

    He said it is imperative to integrate advancing reforms with serving the overall work of the party and the state, combine deepening reforms with fostering institutional integration, and combine advancing reform with forestalling and defusing major risks.

    He also urged to combine stimulating innovative vitality with gathering strength to forge ahead, and fully stimulate the enthusiasm, initiative and creativity of all sides to advance reforms.

    The relationship among party committees, the board of directors and executive management should be properly handled in central SOEs in a bid to forge a corporate governance mechanism featuring clear-cut rights and responsibilities, coordinated operation and effective checks and balances, according to the meeting.

    Establishing and improving a green and low-carbon circular economic system and promoting the green transformation of economic and social development are the fundamental solutions to China’s resource, environmental and ecological problems, the meeting noted.

    The meeting also called on enterprises to fulfil their legal obligations, while urging the establishment of a compulsory environmental information disclosure system.

    Also read:China urges caution on Syria chemical weapon issue

  • Trump bans 8 Chinese apps citing national security

    Trump bans 8 Chinese apps citing national security

    Transactions will be prohibited in 45 days, said the order. Other apps include CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office — which are already banned in India…reports Asian Lite News

    Taking India’s example of banning more than 200 Chinese apps, US President Donald Trump has signed a new executive order that blocks transactions with Chinese companies running eight apps, including Jack Ma-owned Ant Group’s Alipay, Tencent’s QQ and WeChat Pay applications.

    Transactions will be prohibited in 45 days, said the order. Other apps include CamScanner, QQ Wallet, SHAREit, Tencent QQ, VMate, WeChat Pay, and WPS Office — which are already banned in India.

    “The Government of India has banned the use of more than 200 Chinese connected software applications throughout the country; in a statement, India’s Ministry of Electronics and Information Technology asserted that the applications were stealing and surreptitiously transmitting users’ data in an unauthorised manner to servers which have locations outside India,” Trump wrote in his new executive order.

    The new executive order follows two earlier ones from Trump in August last year where he tried to ban transactions with ByteDance, TikTok’s parent company, and WeChat.

    However, a judge blocked the WeChat ban in September and in October, a judge granted a preliminary injunction stopping the TikTok ban in December.

    “The pace and pervasiveness of the spread in the United States of certain connected mobile and desktop applications and other software developed or controlled by persons in the People’s Republic of China, to include Hong Kong and Macau (China), continue to threaten the national security, foreign policy, and economy of the United States,” the executive order further read.



    “The US must take aggressive action against those who develop or control Chinese connected software applications to protect our national security.”

    The Trump order said that “the continuing activity of the PRC and the CCP to steal or otherwise obtain United States persons’ data makes clear that there is an intent to use bulk data collection to advance China’s economic and national security agenda”.

    On June 29 last year, the government banned 59 Chinese apps in the first lot, including TikTok, WeChat, UC Browser and Xiaomi’s Mi Community, over national security concerns amid the border tussle in Eastern Ladakh which led to the death of 20 Indian soldiers in a bloody clash with Chinese PLA troops in the Galwan Valley in June 2020.

    Other Chinese apps in the banned list were Club Factory, SHAREit, Likee, Mi Video Call (Xiaomi), Weibo, Baidu, BIGO LIVE and more.

    In July, the government barred 47 Chinese apps from operating in the country, which were largely clones of the 59 apps that were banned in June.

    The Indian government on September 2 banned 118 apps on national security concerns, including the immensely popular PlayerUnknown’s Battlegrounds (PUBG) Mobile, Baidu and couple of virtual private networks that allowed access to TikTok that was banned earlier.

    Continuing with its ban orders on Chinese apps, the Indian government in November blocked 43 new mobile apps, including shopping website AliExpress owned by e-commerce behemoth Alibaba.

    Also read:Senate Overrides Trump Veto on Defence Bill

  • Chinese loan apps swindle the desperate for a quick buck

    Chinese loan apps swindle the desperate for a quick buck

    Preying on the toxic mix of a pandemic and unemployment, Chinese-run fintech apps worked with impunity to provide quick loans at exorbitant interest and harassed defaulters leading to five deaths … reports Asian Lite Newsdesk

    It took five deaths, a six-month manhunt involving crime branches of two states and 11 arrests across three states for police to finally nab four masterminds of the infamous loan apps scam. 

    Preying on the toxic mix of a pandemic and unemployment, these Chinese-run applications worked with impunity to provide quick loans at ridiculously high interest rates, at times as high as 37%, and then harass borrowers who defaulted using tools which violated financial and privacy laws.

    Investigations have now revealed that over 24 illegal apps made 1.4 crore transactions worth over Rs 21,000 crore to fleece unsuspecting people across the country.

    According to a list released by Citizen Collective, a platform that raises awareness on consumer rights issues, Google Play Store is host to 426 rogue lending apps. These applications involve abusive lending practices and ask users for several permissions, that put them and their contacts at risk.

    Also Read – China seeks better ties with Biden admin

    Most of the people caught in the debt trap had borrowed money from apps such as Bubble Loan, Liquid Cash, Cash Bee, Rupee Factory, Paisa Loan, SnapIt Loan, In Need, Rupee Plus, Pan Loan, Cash Port, Wow Paisa, Gold Bowl, Ok Cash, Udhaar Loan, Go Cash, FlashCash, Cash Pot, One Hope and Bily Cash. A Google search reveals that none of these rogue apps have websites or contact details.

    Alarmed by the proliferation of these coercive apps, the Reserve Bank of India (RBI) had last week issued a warning. The central bank said, “There have been reports about individuals and small businesses falling prey to the growing number of unauthorised digital lending platforms and mobile apps on promises of getting loans in quick and hassle-free manner.” Members of the public, it said, are hereby cautioned not to fall prey to such unscrupulous activities and verify the antecedents of the company offering loans online or through mobile apps.

    Reserve Bank of India Governor Shaktikanta Das (Photo: IANS)

    With the loan defaults surging due to high unemployment, consumers are forced to take unsecured credit lending. To make them aware of the dangers of taking these easy loans, the Reserve Bank of India (RBI) released an advisory asking consumers to not fall prey to the unauthorised digital lending platforms and also said that lending operations are only allowed for banks, NBFCs and other entities regulated by state governments under statutory provisions.

    Modus operandi

    A Chinese national identified as Zhu Wei who was arrested from the Delhi International Airport while trying to flee on New Year’s eve was the head of operations of loan apps being run by Aglow Technologies Pvt. Ltd., Liufang Technologies Pvt. Ltd., Nabloom Technologies Pvt. Ltd., and Pinprint Technologies Pvt. Ltd.

    According to police, Zixia Zhang is the mastermind behind the entire operation. He and his Delhi-based accomplice started a company “Digipeergo Tech Pvt Ltd” in December last year. In the next few months, they launched another company by the name of “Skyline Innovations Technologies India Private Limited.”

    With the help of a Singapore-based developer, the company developed 11 Instant loan applications that offer loans to individuals and collect huge repayments. These repayments included interest, processing charges, GST, default charges and once the loan period is over they charge 1 percent penalty and also resort to systematic abusing, harassing, threatening of the defaulters through call centers run by them. They even blackmail the borrowers by sending fake legal notices to their relatives and family members.

    Also Read – Wall Street readies to sabotage Biden’s China fightback

    These fintech apps advertise on social media, especially Facebook, luring people stating that the interest rate is only 0.98%. The interest rate sounds miniscule, but if these illegal digital loan apps charge 0.98% per day interest, it works out to an annual interest rate of 66%, which is almost double of the RBI-mandated upper limit of 36%. Moreover, in addition to the interest rate, the borrowers are always charged processing fees, and 18% GST.

    These illegal fintech app-based loans gained prominence because the money was transferred almost instantly, unlike traditional banks which took weeks to release loans. When these apps are downloaded, they mandatorily require access to your contacts, video and photo gallery. Once the access is given, you have to share your PAN card and Aadhaar details. The salary slip is not one of the documents that these illegal fintech apps demand.

    As soon as the documents are shared, unsuspecting customers are given Rs 3,000 and if the amount was paid within a week, the amount can go up to Rs 8,000 per week. The person can download several such apps to borrow a higher amount.

    If the borrowed amount is Rs 4,000, you are required to pay back Rs 5,712, where the processing fee is Rs 1,425, GST on the processing fee is Rs 256 and the interest amount is Rs 31. If the payment is delayed by even a day, an overdue fee is charged. Unlike NBFCs or bank loans, where the processing fee is charged only the first time, here the processing fee is charged every week, for as long as the loan is active.

  • China hopes for ‘better ties’ with next US admin

    China hopes for ‘better ties’ with next US admin

    “China-US relations have come to a new crossroads, and a new window of hope is opening,”said Wang…reports Asian Lite News

    China hopes that the next US administration under President-elect Joe Biden will return to a “sensible approach”, resume dialogue with Beijing, restore normalcy to the bilateral relations and restart cooperation, Chinese State Councillor and Foreign Minister Wang Yi said.

    “China-US relations have come to a new crossroads, and a new window of hope is opening,” Wang said in an interview with Xinhua news agency published on Saturday.

    He said in recent years, China-US relations have run into “unprecedented difficulties”.

    Fundamentally, it all comes down to the serious misconceptions of US policymakers about China, according to Wang.

    Some see China as the so-called biggest threat and their policy based on this misperception is simply wrong, he said.

    “What has happened proves that the US attempt to suppress China and start a new Cold War has not just seriously harmed the interests of the two peoples, but also caused severe disruptions to the world.

    “Such a policy will find no support and is doomed to fail,” the Foreign Minister added.

    Wang also claimed that China’s policy towards the US is consistent and stable.

    “We are ready to develop with the United States a relationship based on coordination, cooperation and stability.

    “We know that some in the US are uneasy about China’s rapid development. However, the best way to keep one’s lead is through constant self-improvement, not by blocking others’ development,” he said.

    “We believe that as long as the US can draw lessons from the past and work with China in the same direction, the two countries are capable of resolving differences through dialogue and expanding converging interests by cooperation,” the State Councillor added.

    Last month, Wang had made similar comments at an event, where he urged joint efforts between Beijing and Washinton to ensure “a stable transition” of bilateral relations against disruptions of all kinds, and striving to resume dialogue, bring ties back on track and rebuild mutual trust.

    On December 15, China had called to strengthening bilateral ties with the US after the American Electoral College officially certified Biden’s victory.

    Chinese President Xi Jinping had sent a congratulatory message to Biden on November 25, 2020, after the latter was projected to win the hotly-contested US presidential election held on November 3.

    In the last two years, tensions between the world’s two largest economies have escalated.

    The Trump administration has levied tariffs on billions of dollars’ worth of Chinese goods, to which Beijing has responded with duties of its own.

    In January, the countries reached a phase one agreement on trade that called for increased Chinese purchases of US goods and greater access to the Chinese financial market.

    However, bilateral tensions have only increased in the months since, amid the coronavirus pandemic.

    Also read:China, EU Strike Trade And Investment Deal

  • China, EU Strike Trade And Investment Deal

    China, EU Strike Trade And Investment Deal

    Chinese President Xi Jinping and leaders of the European Union (EU) have announced that the two sides have completed investment agreement negotiations as scheduled.

    The announcement was made on Wednesday during a meeting between Xi and German Chancellor Angela Merkel, French President Emmanuel Macron, President of the European Council Charles Michel and President of the European Commission Ursula von der Leyen via video link, Xinhua news agency reported.

    Calling the investment agreement between China and the EU as “balanced, high-standard and mutually beneficial”, Xi said the treaty has shown China’s determination and confidence to push high-level opening up.

    “The agreement will provide greater market access, higher level of business environment, stronger institutional guarantees and brighter cooperation prospects for mutual investment,” the Chinese leader said.

    The treaty will also greatly boost world economic recovery in the post-pandemic era, enhance the international community’s confidence in economic globalisation and free trade, making significant contributions to the building of an open world economy, Xi added.

    Stressing China’s commitment to fostering a new development paradigm will provide more market opportunities and cooperation potential for the EU and the world at large, the President called on the EU to uphold free trade and multilateralism, and provide an open, fair and non-discriminatory business environment for Chinese investors.

    Also Read: China Begins Probe On Jack Ma’s Ant Group

    Also Read: China slams US’ ‘bullying behaviour’ over blacklist

  • China Begins Probe On Jack Ma’s Ant Group

    China Begins Probe On Jack Ma’s Ant Group

    After China’s top market watchdog began investigation last week into alleged anti-competition practices by ecommerce giant Alibaba, media reported on Monday that the country has now laid out ‘rectification plan for the Jack Ma’s fintech venture Ant Group.

    According to a report in TechCrunch, the People’s Bank of China, the country’s central bank, “summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to ‘rectify’ its regulatory violations”.

    The banking authority has laid out a five-point compliance agenda for Ant Group.

    The agenda is that Ant Group should return to its roots in payments and bring more transparency to transactions.

    “It must obtain the necessary licenses for its credit businesses and protect user data privacy and establish a financial holding company and ensure it holds sufficient capital.

    Jack Ma, founder of China’s Internet giant Alibaba

    Ant group must also “revamp its credit, insurance, wealth management and other financial businesses according to the law and step up compliance for its securities business”.

    Ant said it has established an internal “rectification workforce” to work on all the regulatory requirements.

    Xinhua news agency had first reported that The People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange will “interview Ant Group in the near future”.

    The move is “to supervise and guide Ant Group to implement financial supervision and fair competition in accordance with the principles of marketisation and rule of law, and to protect the legitimate rights and interests of consumers, and regulate the operation and development of financial services”.

    Chinese President Xi Jinping

    The State Administration for Market Regulation last week started investigation into alleged anti-competition practices by ecommerce giant Alibaba, as Beijing tightened control of an expanding Internet.

    In a brief note, the State Administration for Market Regulation said that it is investigating Alibaba over its “choosing one from two” policy.

    As part of this policy, merchants are forced to sell exclusively on Alibaba e-commerce platforms and skip rivals like JD.com.

    Alibaba Group said in a statement that they have received notification from the State Administration for Market Regulation.

    “Alibaba will actively cooperate with the regulators on the investigation,” the company said, adding that its “business operations remain normal.”

    Also Read: China To Probe Alibaba On Unfair Practices

  • China To Probe Alibaba On Unfair Practices

    China To Probe Alibaba On Unfair Practices

    “The State Administration of Market Supervision, based on reports, filed investigations into Alibaba Group Holdings Co., Ltd. for suspected monopolistic conduct such as ‘choose one out of two,’” the Chinese market watchdog said in a statement…reports Asian Lite

    In a significant development, China’s top market watchdog on Thursday started investigation into alleged anti-competition practices by ecommerce giant Alibaba, as Beijing tightened control of an expanding Internet.

    In a brief note, the State Administration for Market Regulation said that it is investigating Alibaba over its “choosing one from two” policy.

    As part of this policy, merchants are forced to sell exclusively on Alibaba e-commerce platforms and skip rivals like JD.com.

    Alibaba founder Jack Ma

    “The State Administration of Market Supervision, based on reports, filed investigations into Alibaba Group Holdings Co., Ltd. for suspected monopolistic conduct such as ‘choose one out of two,’” the statement read.

    Alibaba Group said in a statement that they have received notification from the State Administration for Market Regulation.

    “Alibaba will actively cooperate with the regulators on the investigation,” the company said, adding that its “business operations remain normal.”

    Xinhua news agency said on Thursday that The People’s Bank of China, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange will “interview Ant Group in the near future”.

    The move is “to supervise and guide Ant Group to implement financial supervision and fair competition in accordance with the principles of marketisation and rule of law, and to protect the legitimate rights and interests of consumers, and regulate the operation and development of financial services”.

    The Chinese regulators have recently removed several apps, including banning thousands gaming apps on Apple App Store, in a wide-ranging “clean-up” of online content related to illegal activity, including obscenity, pornography, prostitution, violence, fraud or gambling.

    With China cracking down on apps especially related to video games, Apple has warned Chinese app developers that thousands of more video games will be removed from App Store.

    According to a report in The Wall Street Journal citing a memo, thousands of video games face removal as Beijing tightens control of Internet.

    Apple said in the memo that developers of premium games and those featuring in-app purchases “would have until the end of the year to provide proof of government license or the app would be removed”.

    Also Read: China seeks Pak’s additional guarantees for $6B loan

    Also Read: China slams US’ ‘bullying behaviour’ over blacklist

  • China seeks Pak’s additional guarantees for $6B loan

    China seeks Pak’s additional guarantees for $6B loan

    Pakistan has sought the $6 billion loan help from China for Main Line (ML-1) project against which, Beijing has sought guarantees due to the Islamabad’s weakening position…reports Hamza Ameer

    Pakistan’s friendly neighbour China, which has time and again bailed it out of its financial crisis, has in a queer turn of events now demanded guarantees before sanctioning fresh $6 billion in loan to Islamabad.

    Pakistan has sought the $6 billion loan help from China for Main Line (ML-1) project against which, Beijing has sought guarantees due to the Islamabad’s weakening position.

    China has also proposed commercial and concessional loan against Pakistan’s desire to secure the cheapest lending.

    However, a Pakistani government official stated that China did raise the additional guarantees issue during the third joint ML-1 financing committee meeting, though did not make it part of the draft of the minutes.

    “The purpose of raising the additional guarantees issue was getting more clarity after Pakistan availed G-20 countries debt relief initiatives,” said the government official.

    “The draft minutes have not yet been signed by both countries,” he added.

    The demand of additional guarantees gained even more clarity after the third round of financial negotiations on the $6 billion loan for the $6.8 billion ML-1 project of Pakistan Railways.

    China’s demand has come in the wake of Pakistan, availing the debt relief from G-20 countries, which is only meant for the poorest nations of the world.

    “The G-20 nations have also imposed condition that the poor countries would not secure expensive commercial loans, except those allowed under the IMF-WB framework,” said the government official.

    Another official, who was part of the ongoing negotiations for ML-1 loan, said that the G-20 regulations and conditions for debt suspension are the reason why China now seeks additional guarantees from Paksitan.

    • Chinese President Xi Jinping

    “The Chinese authorities have proposed that keeping in view the financial situation in Pakistan so also the conditions laid down by the G-20 regulations for debt suspension. The government of Pakistan may provide additional guarantee mechanism for the loan other than sovereign loan for the ML-1 project”, he said.

    China’s demand to Pakistan has come as a surprise as fulfilling the additional guarantees would delay the early construction work of what the officials described as a “strategically important project”.

    Executive Committee of National Economic Council (ECNEC) approved the project during August this year. The ML-1 project includes duality and upgrading of the 1,872 km railway track from Peshawar to Karachi and is a major milestone for the second phase of China-Pakistan Economic Corridor (CPEC).

    Pakistan expectations were to get the $6 billion loan from China at only 1 per cent interest rate, along with a grace period of 10 years for repayment of the loan. However, China has proposed commercial and concessional lending, offering to finance 85 per cent of the project cost with payback period of 15 to 20 years in bi-annual repayments.

    Also read:China slams US’ ‘bullying behaviour’ over blacklist

  • Chinese envoy calls on Iran to return to nuke deal

    Chinese envoy calls on Iran to return to nuke deal

    The Iran nuclear deal is an important achievement of multilateral diplomacy endorsed by Security Council Resolution 2231, is legally binding, and should be effectively implemented, said Geng Shuang…reports Asian Lite News

    A Chinese envoy on Tuesday called for efforts to bring the Iran nuclear deal back on the right track and asked the US to rejoin the agreement as early as possible.

    The Iran nuclear deal is an important achievement of multilateral diplomacy endorsed by Security Council Resolution 2231, is legally binding, and should be effectively implemented, said Geng Shuang, China’s deputy permanent representative to the United Nations.

    To preserve the July 2015 agreement is to uphold multilateralism, maintain peace and stability in the Middle East, safeguard the international nuclear non-proliferation regime, and the international order underpinned by international law, he told the Security Council.

    The US unilateral withdrawal from the deal in May 2018, its continued maximum pressure on Iran, and its undermining the efforts of parties to uphold the agreement are the root causes of the current predicament of the Iranian nuclear issue, he was quoted as saying by the Xinhua news agency.

    This year, the US has openly pushed in the Security Council for the extension of the arms embargo against Iran, demanded to invoke a snapback mechanism and unilaterally announced the reinstatement of international sanctions against Iran. In disregard of the views of the international community, the United States staged several farces, he noted.



    Faced with the unreasonable demand of the US, the overwhelming majority of Security Council members adhered to an objective and fair stand, refused to endorse the US position, and did not recognise that the US actions had any legal, political, and practical effects, he said.

    The rotating presidents of the Security Council also concluded that they were in no position to take any action on the US request for a snapback. This represents a resounding rejection of bullying by fairness and justice, unilateralism by multilateralism. It reflects vividly the support of the international community for justice and multilateralism, he said.

    At present, the situation on the Iranian nuclear issue is pregnant with important changes and faced with new opportunities and challenges. All parties should maintain calmness and restraint, resolutely implement the agreement, resolve differences through dialogue and consultation, and restore the balance of rights and obligations under the agreement, he said.

    • Iranian President Hassan Rouhani



    On Monday, a foreign ministers’ video teleconference on the Iranian nuclear issue was successfully convened. The parties reaffirmed their commitment to safeguarding the agreement and Security Council Resolution 2231, ensuring their complete and effective implementation, recognising the prospect of the US rejoining the deal and agreeing to make joint efforts to positively address the US return as soon as possible, he said.

    The foreign ministers’ meeting has sent a positive and strong message to the world. All parties should seize the opportunity to speed up engagement and consultations, strengthen diplomatic efforts, and move the deal back to the right track as soon as possible. The most urgent task at the moment is for the US to mend its ways, rejoin the agreement unconditionally at an early date and return to full compliance, he said.

    Also read:China To see 40% 5G connected cars by 2025: Report

  • China To see 40% 5G connected cars by 2025: Report

    China To see 40% 5G connected cars by 2025: Report

    5G connected car sales volume in China will reach 7.1 million units in 2025, accounting for 40 per cent of the country’s total connected car sales volume, according to latest research.

    The sales volume of 4G connected cars are expected to reach 7.8 million units in 2020 to account for 95per cent of the country’s total connected car sales volume, according to Counterpoint Research’s Smart Automotive service.

    However, with 5G seeing a fast rollout in China and the automotive industry expected to grow faster starting 2021, the share of 5G connected car sales volume will show rapid growth.

    “Despite the impact of COVID-19, China’s connected car sales volume are expected to reach 8.2 million units in 2020, a slight increase of 0.8 per cent YoY from the 8.1 million units shipped in 2019,” said Senior Analyst Aman Madhok.

    In terms of the global share, China is expected to grab 26.8 per cent of the sales volume in 2020, becoming the second-largest connected car market.

    With a projected share of 30 per cent, the US will continue to lead the market while Europe will take the third spot, but with almost the same volume as China.

    The three state-owned telecom operators in China – China Mobile, China Unicom, and China Telecom – are expected to invest around $184 billion in 5G networks by 2025.

    Luxury brands Mercedes Benz, BMW, and Audi have been offering 4G connectivity in most cars since Q1 2019.

    Also Read: Wall Street readies to sabotage Biden’s China fightback

    Also Read: China to launch Long March-8 Y1 rocket

    After Huawei released the world’s first 5G telematics module (MH5000) in April 2019, Audi quickly deployed it in its passenger cars and showcased it at the Beijing-Chongli Expressway demonstration in 2019-end.

    “We expect Audi to launch these models soon, followed by other brands,” the report said.