Xi seeks global technology cooperation after Huawei blocks US

HONG KONG / BEIJING (26 May): Countries should cooperate in the development of the Internet, Big Data and artificial intelligence, said Chinese President Xi Jinping in a letter to China International Big Data Industry Expo, which began Sunday in the city of Guiyang, in the southwest of the country reports.

China attaches great importance to the development of Big Data industry and is willing to explore a growth path with other countries for new technologies, Xi said in a letter, according to Xinhua.

The conference, which runs until Wednesday, features Chinese technology giants such as Alibaba Group Holding, Tencent Holdings and Huawei Technologies Co. among its exhibitors. International companies such as Dell Inc, Google's Chinese branch, NTT DOCOMO, INC. From Japan and Malaysia Digital Economy Corporation are also on the list of exhibitors.

The US government announced Huawei's export ban and banned the Chinese company from buying components to US companies. Washington has also threatened to ban five other Chinese video surveillance companies.

Shares of semiconductor and chip vendors have fallen sharply over the past month in a context of trade war tensions. Raymond James' badyst, Chris Caso, said in a note to clients this week that he expected "many, if not most," chip companies to be forced to reduce their estimates.

"Cumulative overall negative returns for the investment technology sector are mainly due to the mbadive sell-off of semiconductors, a trend that should not be reversed until business uncertainties are dissipated," wrote Robert Schiffman. , Bloomberg Intelligence badyst. 24

Huawei's ban "brutally" disrupts the market, said Wang Zhijun, deputy director of the Ministry of Industry and Information Technology, in an interview with China Central Television. He urged the US government to end the "unreasonable deletion" of Chinese IC and electronics companies.

Data security, the digital economy and technical innovation are the main topics of China International Big Data Industry, according to its website.