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News Summary: Cyberspying offers rich payoff

The Associated Press

RICH PAYOFF: For state-backed cyberspies such as the Chinese military unit implicated by a U.S. security firm in a computer crime wave, hacking foreign companies can produce high-value secrets. Information stolen by hackers could be worth millions of dollars to China's industry, helping speed the rise of giant state-owned companies seen as national champions.

THE ACCUSATION: A report by U.S. firm Mandiant found attacks on 141 entities, in the United States and other countries. Attackers stole information about pricing, contract negotiations, manufacturing, product testing and corporate acquisitions

CHINA SAYS NO: The Chinese military has denied involvement in cyberattacks on Western companies.