Seven & i Holdings Co’s China-based convenience store business was fined for identifying Taiwan as an independent country on its Web site, the latest crackdown by China against companies over its stance on disputed territories.
Seven & i operates the 7-Eleven chain of convenience stores.
Fines of about 150,000 yuan (US$23,530) were imposed by the Beijing local authority against Seven & i, a spokesman for the Japanese retailer said, confirming an earlier report in the Nikkei newspaper.
Enterprises operating in China — from Gap Inc and Daimler AG, to airlines including United Continental Holdings Inc and ANA Holdings Inc — have apologized or changed their Web sites after depicting Taiwan as a separate state. The companies usually comply, accepting it as part of the cost of doing business in China.
Seven & i “is taking the issue seriously and making sure to prevent a recurrence,” the company’s spokesman said.
Beijing’s municipal authorities last month issued the fine and a warning, a government-linked credit information Web site showed. Seven & i also failed to use Chinese names for some South China Sea islands as well as for the disputed Diaoyu Islands (釣魚島), known as the Senkaku Islands in Japan, and which are also claimed by Taiwan.
The map contained alleged errors in labeling some borders along the Xinjiang Uyghur Autonomous Region and Tibet Autonomous Region, the online report said.
While Hong Kong and Macau are special administrative regions with greater autonomy, Beijing also objects to references indicating that they are independent.
STATE SUBSIDIES: The talks over a factory in Dresden have a top end on par with what Japan is offering TSMC and outdo a cap other firms are being offered in Europe Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s biggest contract chipmaker, is in talks to receive German government subsidies for as much as 50 percent of the costs to build a new semiconductor fab in the country, people familiar with the matter said. The government is in ongoing negotiations with TSMC, as well as its partners on the project — Bosch Ltd, NXP Semiconductors NV and Infineon Technologies AG — the people said, asking not to be identified because the deliberations are private. No final decisions have been made and the final subsidy amount could still change. Any state aid must also
South Korea would avoid capitalizing on China’s ban on a US chipmaker, seeing the move by Beijing as an attempt to drive a wedge between Seoul and Washington, a person familiar with the situation said. The South Korean government would not encourage its memorychip firms to grab market share in China lost by Micron Technology Inc, which has been barred for use in critical industries by Beijing on national security grounds, the person said. China is the biggest market for South Korea semiconductor firms Samsung Electronics Co and SK Hynix Inc and home to some of their factories. Their operations in China
GEOPOLITICAL RISKS: The company has a deep collaboration with TSMC, but it is also open to working with Samsung Electronics Co and Intel Corp, Nvidia’s CEO said Nvidia Corp, the world’s biggest artificial intelligence (AI) GPU supplier, yesterday said that it is diversifying its supply chain partners in order to enhance supply chain resilience amid geopolitical tensions. “All of our supply chain is designed for maximum diversity and redundancy so that we can have resilience. Our company is very big and so we have a lot of customers depending on us. And so our supply chain resilience is very important to us. We manufacture in as many places as we can,” Nvidia founder and chief executive officer Jensen Huang (黃仁勳) said in response to a reporter’s question in
POWER FORWARD: The US company’s bullish revenue projection also lifted the shares of Taiwanese chipmaker TSMC and Japanese equipment supplier Advantest Nvidia Corp’s forecast for surging revenue surprised even the most bullish analysts on Wall Street, propelling the chipmaker to the cusp of a US$1 trillion market capitalization and igniting a global jump in stocks linked to artificial intelligence (AI). The Santa Clara, California-based company gained as much as 29 percent in extended US trading, on course for a record high, after saying it expects sales to reach about US$11 billion in the three months ending July. That gain puts Nvidia on track also to rack up the biggest one-day valuation jump in US company history. Nvidia, the biggest supplier of the advanced