4G network users

THE country’s 4G network users grew to 1.24 billion by the end of July, according to recent statistics of the Ministry of Industry and Information Technology (MIIT).

The number of users on China’s 4G network account for 78.2 percent of the total mobile phone users, up 3.8 percentage points from the end of last year, said the MIIT. The revenue in China’s telecommunications industry dropped by 0.3 percent year on year to 889.5 billion yuan (US$125.6 billion) from January to July, MIIT data showed. Growth in revenue was mainly driven by new businesses such as internet data centers, big data, cloud computing and artificial intelligence, according to the MIIT.

Tech event

TESLA Inc. CEO Elon Musk and Alibaba Group Holding Ltd. chairman Jack Ma will speak at a conference on artificial intelligence (AI) to be held this week in Shanghai, an Alibaba spokeswoman said.

The two entrepreneurs will have a conversation in front of an audience today at the World Artificial Intelligence Conference, which will run from today to Saturday, the spokeswoman said.

Shagang stake

DATA center provider Global Switch Holdings said Tuesday Jiangsu Shagang Group Co. bought a further 24 percent stake in the company for 1.8 billion euros (US$2.01 billion), making it the largest shareholder with a 49 percent stake.

Global Switch, which is moving towards an IPO, said the Chinese steelmaker confirmed there will be no changes to the company’s strategic direction, management or financial and operational policies.

Aircraft order

BOEING Co. said Tuesday that an aircraft order from China could result from any deal to end a yearlong trade tensions between the world’s two largest economies.

Boeing chief executive Dennis Muilenburg cautioned that it was “tough to predict” the timing of a potential trade deal between the two countries. “It’s been challenging,” Muilenburg said. “But I think ultimately they will find a solution because of the mutual interest, and we think our airplane business will be part of that ultimate solution.”

Chicago-based Boeing calls itself the top U.S. exporter and has delivered more than one out of every four jetliners it made last year to customers in China, where it forecasts demand for 7,700 new airplanes over the next 20 years valued at US$1.2 trillion. Boeing has also been increasing its industrial footprint in China as it aims to increase its sales lead over Europe’s Airbus SE in Asia.