Misleading headline both in Phys.org and Slashdot. From the article in Phys.org, it isn't clear that they're using magnetic fields at all: "researchers from Shanghai Jiao Tong University and Sun Yat-Sen University have developed a method for generating pseudomagnetic fields -- synthetic fields that mimic the influence of real magnetic fields -- inside nanostructured materials known as photonic crystals." (Seems to me a lens will also "mimic the influence of real magnetic fields", but I'm not like an expert or anythng.)
The article doesn't even say whether the "pseudomagnetic fields" are permanent or can be changed, or how quickly they can be changed. The Advanced Photonics Web site isn't responding at the moment, so I can't see the original paper. And I can't tell where "faster communications" comes into it either.
(Has Phys.org also been degraded by "girls"? Or is bad physics reporting independent of gender? More research is needed!)