Chinese state-owned telecom firms, China Telecom, China Mobile, and China Unicom, are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar US-backed project, Reuters reported, citing four. Chinese state-owned telecom firms, China Telecom, China Mobile, and China Unicom, are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar US-backed project, Reuters reported, citing four. Chinese state-owned telecom firms are developing a $500 million undersea fiber-optic internet cable network that would link Asia, the Middle East and Europe to rival a similar U. -backed project, four people involved in the deal told Reuters. The plan is a sign that an intensifying tech war. The New Cross Pacific Cable System is a 13000km new generation high capacity fibre-optic submarine cable system across the Pacific Ocean directly connecting the US and Asia with landings in China, Korea, Taiwan, Japan and the US. China Telecommunications Corporation (China Telecom), China Mobile Limited, and China United Network Communications Group (China Unicom) are planning the "world's most.