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Business deals

China to create 'IT aircraft carrier' through tech megamerger

State-owned military suppliers CETC and Potevio prepare for US sanctions

A CETC booth at an expo in China: The state-owned company logged revenue of $35.3 billion in 2019. (Photo courtesy of China Electronic Technology Group Corp.)

BEIJING -- China Electronics Technology Group looks to absorb a fellow state-owned enterprise and create what would be the country's third-largest information technology company, with annual revenue topping $50 billion.

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