BEIJING – China is “shocked” that the US is alleging Chinese companies provided counterfeit electronic parts to the US army, says a spokesperson for China's Foreign Ministry.
China’s Foreign Ministry believes the US government should first investigate contract details and identify suppliers, according to published reports.
The statements came in response to a US Senate Armed Service Committee report that states the finding of more than one million suspected counterfeit parts in the Department of Defense's supply chain, about 70% of which were determined to have come from Chinese companies. The committee also said the US Defense Ministry and US-based defense contractors worked with hundreds of independent distributors.
The parts were slated for use in US Navy helicopters and surveillance planes, and Air Force cargo planes.
HONG KONG -- SMT Holdings Ltd. reported fiscal fourth-quarter revenue fell 58% year-over-year to HK$182.7 million ($23.5 million) on operation downsizing and drops in demand for LCD TVs, computer peripherals, industrial and automotive products.
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