Chinese Government Hopes US Removes Telecoms Maker ZTE From Entity List Soon
Yicai Global
/SOURCE : Yicai
Chinese Government Hopes US Removes Telecoms Maker ZTE From Entity List Soon

(CBN Global) March 25 -- The head of China's Department of North American and Oceanian Affairs said the government hoped that ZTE Corp. [HKG:0763], a major Chinese telecoms equipment maker, would be removed from the US's Entity List, a list of foreign entities with restricted trading rights, as soon as possible.

Good progress has been made in discussions between ZTE and the US government, CBN has learned from the Ministry of Commerce. The US Department of Commerce has agreed to offer ZTE temporary relief from sanctions it imposed earlier this month. Trading in ZTE shares was suspended on March 7 as a result of these restrictions.

ZTE issued an announcement last night that its 2015 annual report will be published on April 7.

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