China’s ZTE (0763. HK) (000063. SZ) is seeking a resolution to a U. S. ban on selling it parts and software that it has said threatens its survival.
BEIJING (Reuters) – China’s ZTE ( 0763. HK) ( 000063. SZ) is seeking a resolution to a U. S. ban on selling it parts and software that it has said threatens its survival.
ZTE “has learnt from its past experiences on export control compliance and attaches significant importance to the work on export control compliance,” the mobile phone and telecoms company said in a statement to the Hong Kong stock exchange.
ZTE “is making active communications with relevant parties and seeking a solution to the U. S. export denial order,” it added in the statement.
U. S. authorities last week banned American companies from sales to ZTE for seven years, saying the Chinese company had broken a settlement agreement with repeated false statements – a move that threatens to cut off ZTE’s supply chain.
