In an ongoing legal battle between tech giant Tencent and iconic chili oil condiment maker Laoganma, Tencent has taken the unusual move of offering 1,000 bottles of Laoganma's own products to anyone uncovering any fraudulent practices by Tencent.
The offer, made by Tencent on Wednesday on its Weibo social media channel, came in response to allegations by Laoganma that Tencent had made a business deal with a fraudulent operator masquerading as Laoganma, and not Laoganma itself.
Tencent has sued Laoganma for nonpayment of marketing services related to the matter, which is headed to court. But it took a strange turn when Laoganma denied ever entering into business with Tencent.
The Shuanglong branch office of Guiyang Public Security Bureau reported on Wednesday that it had investigated Laoganma's assertion that Tencent must have dealt with an illegal proxy. Police uncovered evidence that three suspects had fabricated Laoganma's official seal and impersonated Laoganma marketing managers to sign a cooperation agreement with Tencent in an attempt to gain online-game gift codes for free and resell them at a profit.
This would likely invalidate the agreement, which was valued at over RMB10 million, that Tencent alleged it signed with Laoganma for advertisement fees.
Tencent said that the online gift codes at issue referred to Tencent's "QQ Speed Drifters" game, and that Laoganma had entered into a promotional agreement on the game with Tencent in April 2019. Laoganma, however, says it has no knowledge about any collaborative agreement involving QQ Speed Drifters but was cooperating with the police investigation anyway.
The three suspects are now in criminal detention and the case is still being investigated.
China To Relax Visas For Overseas Talent To Support High-Tech Firms
Premier Li Keqiang said Wednesday during an executive meeting High-Tech Industrial Development Zones (HIDZs) that China would relax regulations on long-term multiple-entry visas and residence permits for overseas talent recruited to the zones.
Li stressed the significance of deepening the reform and further opening up of the zones to boost high-quality development as well as pooling innovation resources. The meeting encouraged high-tech zones to further cooperate with their foreign counterparts in diverse forms to better integrate into international industrial and supply chains.
Aimed at fostering research collaboration and developing innovative high-tech products, each HIDZ in China comprises cooperative clusters of research institutions, universities and private companies.
Since the first zone was established in 1988, China has developed a total of 169 national high-tech zones across the nation. In 2019, the GDP of these zones reached RMB12.2 trillion (US$1.73 trillion dollars), accounting for 12% of the nation's GDP.
On January, 2020, China implemented a New Foreign Investment Law to support foreign investment in the HIDZs.
Hainan Lifts Shopping Quotas For Duty-Free Purchases
New policies regarding Hainan offshore duty-free shopping came into effect on Wednesday, with revised quotas on duty-free purchases increased from RMB30,000 (US$4,243) to RMB100,000 (US$14,100) per year for each person.
The new rules, issued by the Finance Department and General Administration of Customs and State Administration of Taxation, also involve eased restrictions on the volume of purchases. Up to four smartphones may now be purchased, as well as 40 items of cosmetics per person.
Most Hainan duty-free store already offer generous discounts on popular consumer goods. For example, the Apple iPhone 11 Pro Max 512GB costs RMB10,210 (US$1,445), which represents a savings of RMB2,489 (US$352) compared with purchasing it on the iPhone store.
Hainan offers offshore duty-free products in 45 categories of products, including smartphones, watches, tablet computers, cosmetics and dietary supplements. Shares of China Duty Free Group (CDF) hit RMB168.18 per share this week, marking a record high.
As 5G Nears, Beijing Rebuts US's 'National Security Threat' Claims
China's Foreign Ministry has demanded that the US government stop its "unreasonable oppression" against Chinese companies including Huawei and ZTE.
Ministry Spokesman Zhao Lijian said during a press conference on Wednesday that the U.S should stop using national security concerns to "deliberately discredit China," and he called for an equal and nondiscriminatory environment for Chinese companies conducting business in the United States.
The US Federal Communications Commission (FCC) earlier this week designated the telecoms giant Huawei and telecoms equipment maker ZTE as national security threats. This prohibits US cellular businesses from purchasing Huawei and ZTE equipment with federal money. Huawei has been a leader in 5G infrastructure development, but it has been beset by security concerns from foreign buyers.
Zhao indicated the FCC's decision could severely affect small and rural internet carriers in the US.
Sustainable Fisheries Promoted
The Ministry of Agriculture and Rural Affairs announced that China will enact its first fishing moratorium in the southwest Atlantic Ocean through the end of September, in an effort to promote sustainable marine fishery development in open waters.
Covering the high seas between 32 and 44 degrees south latitude, and between 48 and 60 degrees west longitude, the restrictions encompass one of China's main squid fishing areas. The fishing moratorium will suspend operations of all Chinese fishing boats in the area for the next three months.
By volume, China is the largest squid fishing and processing country in the world. But in recent years, especially on the high seas of the southwest Atlantic and southeast Pacific, squid resources have deeply fluctuated, severely impacting the fishing and processing industries, according to the ministry.
The ministry expects to enact another fishing moratorium on the high seas of the eastern Pacific Ocean starting Sept. 1.
