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Technology

ZTE turns antitrust complaint around

Mobile phone maker ZTE Corp's antitrust move in Europe may prompt more Chinese companies to file similar complaints, industry experts said.

On June 19, ZTE in Shenzhen asked requested the European Commission to investigate the licensing practices of Vringo Inc, a United States headquartered telecom patent developer, on grounds that Vringo had violated the EU's fair, reasonable and non-discriminatory terms on patent licensing.

"It is appropriate for ZTE to take meaningful initiatives to protect its IP interests in Western markets, especially as other Chinese IT companies are reluctant to do so," said Xiang Ligang, a telecom researcher and founder of industry site CCTime.com.

Europe is ZTE's major focus outside China. Senior executives said earlier this year that the company is aiming for double-digit revenue growth in the region over the next five years.

Auto

BMW extends China partnership

BMW, the German car giant, has extended the partnership with its Chinese partner, Brilliance China Automotive Holdings Ltd, for another 10 years until 2028, as it seeks to challenge Volkswagen AG's Audi in the world's biggest vehicle market.

Aviation

Fosun Group signs Greek airport deal

Fosun Group, China's biggest private conglomerate, has agreed to a $200 million deal to develop an old airport in Athens, marking another step in its expansion in Europe.

The agreement with Latsis Group, the parent company of real estate firm Lamda Development, was signed during the visit of Chinese Premier Li Keqiang to Greece.

The two companies will develop the former airport at Hellenikon, 8 km from downtown Athens, Chinese newspaper 21st Century Business Herald reported.

Finance

Differing viewson bitcoin

Bitcoin, a virtual currency, may be a game changer for overseas investment as many Chinese are using it to snap up properties in Europe, insiders said.

But legal experts warned of a bubble about to burst due to a lack of confidence in the digital currency and further regulations.

"It is definitely a trend, because I don't see why people can't do it, since it is an easier and quicker way to invest overseas," said Bobby Lee, chief executive officer and co-founder of BTC China, one of the world's largest bitcoin exchanges, on June 24.

"It is not considered a currency, so basically it is not restricted by the government's foreign exchange policy," he said.

Investment

'New era' for German business in China

China's economic restructuring will usher in a new era of German direct investment, particularly in automation, digitalization, environmental technology and renewable energy, says an official with the German Chamber of Commerce.

The announcement coincided with the publication of a Business Confidence Survey conducted by the chamber in May and June that showed German businesses operating in China are performing robustly and remain relatively optimistic despite the economic slowdown. The survey drew responses from 417 companies, or 17.4 percent of its members.

China Daily-Agencies

(China Daily European Weekly 06/27/2014 page18)