Major fusion of CETC and Potevio receives green light

The Chinese government has approved the fusion of two major state-owned technology groups into a new market leader. China Electronics Technology Group Corporation (CETC) is allowed to take over China Putian Information Industry Group (Potevio) as planned. This is reported by the Japanese business newspaper „Nikkei“. The fusion of the two companies will create one of the largest technology groups in the world (China.Table reported). Planners have engineered the fusion for strategic reasons. They are supposed to help make their own country less dependent on US technology.