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November 19, 2016

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ZTE wins US reprieve

CHINESE telecoms equipment group ZTE Corp said yesterday that it has won a further reprieve to February 27 on tough export restrictions that were imposed on the company by the US government.

In March, the US Commerce Department hit the company with some of the toughest-ever US export restrictions for allegedly breaking sanctions against Iran but has since issued temporary reprieves on the curbs.

ZTE will continue to cooperate with the relevant US government departments to reach a final solution on the matter and strictly comply with relevant US laws, the company said in a filing to the Hong Kong stock exchange.



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