ZTE
A group of U.S. lawmakers introduced bills that would ban the sale of U.S. chips or other components to Huawei Technologies Co. Ltd and ZTE Corp.
The U.S. Commerce Department on Friday lifted a crippling ban on American firms selling parts to ZTE after the Chinese company deposited $400 million in escrow as part of a settlement reached last month.
The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp.
ZTE’s shares in Shenzhen (000063.SZ) also rose the daily limit of 10 percent.
United States said that it signed an agreement with ZTE Corp that paves the way for the Chinese tech company to resume operations after a nearly three-month ban.
Zhang, who was one of five executive vice presidents at ZTE and in charge of sales and marketing, issued a farewell letter to staff on Friday, employees said.
U.S. allows ZTE transactions to maintain networks.
Two U.S. senators urged President Donald Trump on Tuesday to reconsider his agreement with ZTE Corp.
ZTE said a National Defense Authorization Act (NDAA) passed by the U.S. Senate on Monday would restore penalties on the company.
U.S. senators urged fellow lawmakers not to give in to White House pressure to support an agreement lifting a ban on the Chinese telecommunications company.
Investors cheered the development, driving up ZTE’s Hong Kong-listed shares as much as 3.7 percent on Thursday morning.
Shares in Chinese smartphone maker ZTE are set to resume trading in Hong Kong Wednesday.
The U.S. Senate will vote on legislation to block a Trump administration agreement that would allow China's ZTE Corp, to resume business with U.S.
Washington and Beijing have reached a deal to ease sanctions that brought Chinese smartphone maker ZTE to the brink of collapse.
Lawmakers have included some restrictions on ZTE - such as a ban on the military’s use of its products - as amendments to major legislation.
A Commerce Department spokesman said on Tuesday that “no definitive agreement has been signed by both parties.”
ZTE Corp has signed an agreement in principle that would lift a U.S. Commerce Department ban on buying from U.S. suppliers.
The Trump administration may soon claim as much as $1.7 billion penalty from ZTE Corp, as it looks to punish and tighten control over the Chinese company.
China has been looking to accelerate plans to develop its semiconductor market to reduce its heavy reliance on imports.
US President Donald Trump said Friday he had reached a deal to keep Chinese telecoms giant ZTE running.
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