According to reports, Chen Jing placed his company's logos on several Motorola MOTO chips and claimed them as his own. Chen is also general manager of the Hanxin Sci-Tech Company. China's National Development and Reform Commission and Ministry of Technology have halted research projects led by Chen and barred him from undertaking any future state-funded projects.
China Mobile looks overseas
Telecom operator China Mobile was leading the bidding last month for Millicom International Cellular SA (MICC), a mobile phone company that operates in emerging markets, after Dubai-based Investcom LLC pulled out of the race. The purchase of the NASDAQ-listed company, which is controlled by Swedish media group Kinnevik, would represent the first overseas M&A activity by a Chinese state-owned telecom operator. China Mobile's Hong Kong-listed subsidiary bought Hong Kong mobile carrier China Resources Peoples Telephone for US$436 million in January.
Microsoft pledges US$3.7bn
US software giant Microsoft will invest US$3.7 billion in China's software market over the next five years on training, launching joint ventures with Chinese enterprises and providing technical support to the country's software industry. The company signed a memorandum of understanding on the investment with China's National Development and Reform Commission (NDRC) in late April. Microsoft will also partner with NDRC to launch a software innovation center.
Space now China's final frontier
China's Lunar Exploration Program Center announced plans to launch a moon-orbiting satellite next April as the first step in an ambitious exploration project. The craft will be followed a few years later by a remote-controlled lunar rover that will perform experiments and send data back to earth, and, in another few years, a module that will drill out a chunk of the moon and return with it. The lunar exploration scheme includes long-term plans for piloted moon missions. China's first manned space mission took place in 2003, with a third taking place two years later.
Tech profits up 40%
China's electronics and information industry profits grew 40% year-on-year to US$3.4 billion in the first quarter of 2006, Ministry of Information Industry figures showed. Fixed asset investment climbed 40.9% to US$4 billion and China's software industry revenues grew 33.7% to US$8.6 billion.