Development News Edition
Give Feedback
FIFA 2018

U.S. ban on China's ZTE lifted

Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp , allowing China's second-largest telecommunications equipment maker to resume business.


Reuters 13 Jul 2018, 04:08 PM China, United States
  • The company was no longer on the Commerce Department's "denied persons list". (Image Credit: Twitter)

The U.S. Department of Commerce on Friday lifted a ban on U.S. companies selling goods to ZTE Corp , allowing China's second-largest telecommunications equipment maker to resume business.

The Commerce Department had said it would remove the ban after ZTE paid a $1 billion penalty and placed $400 million in a U.S. bank escrow account as part of a settlement reached last month.

The company was no longer on the Commerce Department's "denied persons list" as of Friday.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

add banner
Loading...

LEAVE COMMENT

Web
                Analytics Made Easy - StatCounter