China calls on USA to protect business environment

ZTE smart phone

Asked about a report by the The Wall Street Journal that Huawei was under investigation, Hua said, "We hope the USA will refrain from taking actions that could further undermine investor confidence in the USA business environment and harm its domestic economy and normal, open, transparent and win-win worldwide trade".

Several ZTE vendors watched their stock prices stumble in recent days, collateral damage after the Commerce Department put in place a seven-year ban, as national-security and trade-related tensions flare up between the US and China.

"Every business with an global ambition must ensure it gives sufficient resource and focus to being aware of trade sanctions globally and ensuring compliance with them", he said.

Huawei, the world's largest maker of telecommunications network equipment and the No 3 smartphone supplier, said it complies with "all applicable laws and regulations where it operates, including the applicable export control and sanction laws and regulations of the UN, US and European Union". This includes any possible sanctions from the US, EU, and UN.

The Justice Department probe comes after subpoenas were issued to the company by the U.S. Commerce and Treasury departments over sanctions-related issues, according to Reuters, The Wall Street Journal, The New York Times, and other media, which cited anonymous officials. Tariffs against Chinese manufacturers were also joined by actions against Chinese tech companies.

Based on what we've seen so far, do you think the United States' hostility towards Huawei is warranted?

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Huawei and ZTE have denied these allegations. The Wall Street Journal says that the worse- case scenario facing Huawei is a similar US export ban. After all, Huawei has been in the U.S. government's cross hair perhaps longer than ZTE.

In its statement, ZTE asserted that the violations cited by the Commerce Department's Bureau of Industry and Security (BIS) were self-reported by the company, which also made "corrective measures" and hired a United States law firm to conduct an independent investigation.

In April 2017, lawmakers sent another letter to Commerce Secretary Wilbur Ross asking for F7 to be publicly identified and fully investigated.

ZTE Corp also invested $50 million in compliance training past year, a number expected to increase, and has organized 65,000 staff members to attend, the report said.

"America's investigation has no impact on our company", a chief executive from Huawei, the world's third-biggest mobile phone company after Apple and Samsung, told reporters from National Business Daily (NBD), a financial newspaper in China, on Wednesday evening.

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