The British government launched a website today that warned digital and technology firms about ethical, legal and commercial risks when deciding to expand their business to China and accept the country's investment.
This month, Britain has published a bill empowering prime ministers to interfere in corporate agreements that could threaten national security, especially those involving Chinese and other foreign investments in key industries.
In addition, the website was also launched with the slogan "China. See Potential. Know the Challenges ”. In addition, it is developed as a guide for digital and technology firms, encouraging good practice and raising awareness of potential issues.
According to digital and culture minister Caroline Dinenage, the UK is determined to support their business to interact with China in a way that reflects UK values and takes into account national security concerns.
In addition to displaying case studies, guidance on how to conduct due diligence and links to expert consultants, the site also contains some stern warnings. Among them is the risk that their company's technology could be used to violate human rights and the need to take legal steps to protect their IP (Intellectual Property) in China and should consider cyber security.
For all you know, earlier this year, the country's ministers had blocked Chinese firm Huawei Technologies Co Ltd from the UK telecommunications network division over concerns about espionage activities. However, it has been denied by the technology company.
Under the new law introduced today, telecommunications companies can be fined up to 10% of turnover or 100,000 pounds a day if they violate the ban on using equipment made by Huawei.
