The British government has blocked a proposed takeover of an electronic design company by a Hong Kong-based firm on national security grounds. In an order issued on Aug. 17, Business Secretary Kwasi Kwarteng ruled that the acquisition of the Bristol-based Pulsic Limited by Super Orange HK Holding Limited should not proceed. Kwarteng said the decision…
UK Blocks Takeover of Tech Company Pulsic by Hong Kong-Based Firm Over Security Fears
August 18, 2022
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Boris JohnsonChinaChina Business & EconomyChinese RegimeEurope-China RelationsHK BusinessHong KongInternational RelationsKwasi Kwartengliz trussNational SecurityNewport Wafer FabtechnologyUKWorld
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Thousands of UK Firms Cut Ties With China Amid Rising Tensions: Industry Group
July 31, 2022
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Thousands of British businesses are cutting their economic ties with China as they anticipate faster decoupling between China and the West, a major UK business group has said. Confederation of British Industry (CBI) Director-General Tony Danker said thousands of companies in the UK are currently rethinking their supply chains in anticipation of hardening anti-China political…
UK Blocks Chinese Acquisition of Smart Camera Technology in 1st Use of National Security Law
July 21, 2022
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The UK has blocked a Chinese company from acquiring smart camera technology from a British university, in the first use of the government’s new national security powers. British Business Secretary Kwasi Kwarteng announced on July 20 that he had issued an order (pdf) under the National Security and Investment Act, blocking an attempt by Beijing Infinite…
UK Lords Challenge Government Over Chinese Takeover of Semiconductor Firm
April 7, 2022
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Members of the upper house of the British parliament have questioned the government over the planned Chinese takeover of one of the UK’s biggest microchip factories, warning that the deal could threaten the UK’s “national resilience.” Newport Wafer Fab (NWF), based in Wales, specialises in manufacturing the more advanced compound semiconductors, which is the key…
Chinese Takeover of UK Tech Firm Not Probed Despite Prime Minister’s Pledge: Lawmakers
April 5, 2022
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A security review pledged by Prime Minister Boris Johnson into a Chinese takeover of one of Britain’s biggest microchip factories does not appear to have taken place, a UK parliamentary committee has said. Newport Wafer Fab (NWF), based in Wales, specialises in manufacturing the more advanced compound semiconductors, which is the key technology used in…
UK Warned to Cool Links With China Over ‘New Cold War’ Fears
The UK needs to be wary about its relations with China as Beijing embarks on a new cold war, a former Australian prime minister and government trade adviser has warned. Tony Abbott, a member of the Board of Trade, said the Asian economic powerhouse was weaponising trade and urged Britain to guard against selling key…
UK Prime Minister Orders Security Review on Chinese Acquisition of UK’s Biggest Semiconductor Maker
July 9, 2021
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UK Prime Minister Boris Johnson has ordered a security review of the purchase of the UK’s largest producer of semiconductors by a Chinese-owned firm after the acquisition was widely criticized by Members of Parliament (MPs). Johnson said on July 7 that he has asked his national security adviser to probe into the purchase of Newport…
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