Leading Chinese company ZTE is reportedly looking to have a solution on the US ban on its exports. In issuing a statement to the Hong Kong Stock Exchange, ZTE officials maintained that, they were making active communication with the US authorities in lifting the ban. Making it clear that it had set up a compliance management committee, ZTE also maintained that they would provide compliance training to all of its staff members.
Earlier, it was on last week, which the US govt. banned American companies from making business with ZTE for a period of seven years. The reason, which the authorities pointed out, was that of the company repeatedly sending false statements. The violation of agreement from ZTE’s part also includes, the company’s illegal shipping of US goods to Iran. Upon the request of the company, the US Commerce Department has now granted more time for ZTE in submitting more evidences to prove its innocence.
