Shanghai Zhenhua Heavy Industries Co., Ltd. (600320.SS)

Shanghai Zhenhua denies posing cybersecurity risk to US ports

Shanghai Zhenhua Heavy Industries (ZPMC) said on Sunday its cranes do not pose a cybersecurity threat, after U.S. congressional committees questioned the Chinese state-owned company's work on cranes bound for the United States. The House of Representatives security panels, scrutinising ZPMC's installation of Swiss engineering group ABB's equipment onto U.S.-bound ship-to-shore cranes, in January invited ABB executives to public hearings to clarify its relationship with ZPMC, which they said raised "significant concerns". "ZPMC takes the U.S. concerns seriously and believes that these reports can easily mislead the public without sufficient factual review," it said in a filing, referring to the probe by the Homeland Security and Strategic Competition committees.