On May 13, 2018, U.S. President Donald Trump tweeted, “Working with Chinese leaders to find a way to quickly resume business with major Chinese telecommunications company ZTE.”
“A lot of jobs have been lost in China [as a result of zte],” he said. The Ministry of Commerce has been ordered to address it!”
trump
It may be the first time the Twitter-governed US President has expressed concern about Jobs in China in a public statement. This also means that the US Department of Commerce activated the ban on April 16, zte finally ushered in a ray of light.
This also means that the zte crisis, which has lasted nearly a month, was promoted by the heads of state of China and the United States.
Zte, China’s second-largest telecoms company, whose revenues have been cut off by the US blockade, sees the next two weeks as critical as it faces a potential collapse. The company said on May 10 that it had suspended all major operations because of a shortage of key components.
Zte, which has been hit by the ban, was set to lead China into the era of fifth-generation wireless technology, along with local rival Huawei. The world’s major wireless carriers are preparing to spend heavily to roll out 5G networks. Zte said it “cannot accept” the US punishment and threatened legal action.
Zte, which has been trying to resolve the blockade imposed by Washington in April, said in a statement after the sanctions: “The company and relevant parties are actively communicating with relevant departments of the US government to push the US government to adjust or lift the denial order and move things in a better direction.” Zte said in a statement to the Hong Kong stock Exchange. Zte also said in the statement that it has sufficient cash and adheres to its commercial credit under the premise of legal compliance. Trading in its shares has been suspended since the ban was imposed.
With U.S. tariffs likely to hit Chinese goods as early as May, industrial output will be more concentrated. If trade talks stall, output of machinery and equipment could weaken further as the Trump administration’s tariff list focuses on technology products. Communications equipment, computers and electronic devices could also be affected.
Noting the risks of more trade frictions and protracted negotiations, UBS Group AG economists Ning Zhang and Tao Wang wrote in a note: “We may see strong growth in April and May, but headwinds may emerge in the second half of the year.”
Zte’s revenue from its communications business has been on the rise in recent years
Zte’s increasingly precarious position has added to tensions between the world’s two largest economies at a time when the leaders of China and the US are engaged in sensitive talks to try to head off a trade war.
According to the New York Times and other US media, There was no further comment from Trump or the US Commerce Department, and ZTE officials in the US did not immediately respond to emails seeking comment.
But Jacobson, a litigator representing ZTE’s suppliers in the US, was “overjoyed” : “I didn’t expect it at all!”
Zte has been a frequent contributor to global patent filings
The Washington Post commented that it is rare for the US President to personally assign the executive branch’s work, and it shows the importance Trump attaches to the ZTE case.
American netizens also commented on the news, which took everyone by surprise.
According to @TooltTime, trade disputes are meant to be resolved peacefully.
“What would our lives be like if the whole world came to sanction the United States now?
I was very afraid of it.”
User Louz Watt said,
“It was a surprise, but then again, it was a mistake to impose sanctions on ZTE in the first place.”
Shock 28 days, turn the corner
For all zte people, in the past less than a month, all the pressure, sadness may be unforgettable.
It is also interesting to look back on the past 28 days, when the crisis has been tentatively resolved.
On April 16, the US Department of Commerce banned US companies from selling components to ZTE for the next seven years.
Zte subsequently suspended trading in its A – and H-shares, while shares in some of its US suppliers fell sharply.
On April 17, ZTE announced the launch of the crisis response team, all-out efforts to face the crisis. On the same day, the Ministry of Commerce said it would closely follow the development of the situation and stand ready to take necessary measures to safeguard the legitimate rights and interests of Chinese companies.
According to the bank of China International and other brokerage reports at that time, ZTE’s inventory of equipment can last about two months. Foreign media reported that zte may not even be able to license Google’s Android operating system after the device sales ban.
At a press conference at ZTE’s headquarters in Shenzhen on April 20, Yin Yimin, zte’s chairman, said such sanctions would send the company into shock. Yin also stressed that
“We firmly oppose such a decision by the U.S. Department of Commerce and the unfair and unreasonable punishment…… The company will use all legal means to resolve the matter.
As a global company growing up in China, ZTE will shoulder its due responsibilities as a Chinese enterprise and strive to become stronger.”
On April 25, ZTE announced that the company is actively in communication and coordination with the relevant US government departments, “the company’s management has decided to take certain actions under the relevant US law in connection with the order”.
The spokesperson of China’s Ministry of Commerce said on May 4 that China made solemn representations with the US side on the ZTE case during the china-us economic and trade talks held from May 3 to 4. The US side said it attaches importance to China’s representations and will report China’s position to the US President.
On May 6, ZTE announced the latest development in a statement, “The company has formally submitted an application to BIS (Bureau of Industry and Security of the Us Department of Commerce) to suspend the enforcement of the denial order, and submitted supplementary materials in response to the denial order in accordance with BIS guidelines.”
On May 9, ZTE issued a major progress announcement, saying that the company’s main business activities have been unable to carry out as a result of the rejection order. However, at present, the company has sufficient cash and adheres to commercial credit on the premise of legal compliance. The company and relevant parties are actively communicating with the relevant departments of the US government to push the US government to adjust or cancel the denial order.
On May 10, the good news finally came! A spokesman for the Commerce Department’s Bureau of Industry and Security, which oversees export controls, said the department was reviewing zte’s complaint and would give it timely consideration, the Wall Street Journal reported.
In 2017, ZTE was firmly in fourth place in the US smartphone market, behind Apple, Samsung and LG in market share, according to research firm Counterpoint.
According to the latest figures from the World Intellectual Property Organization (WIPO), ZTE filed 2,965 PCT patent applications in 2017, ranking second in the world after Huawei (4,024). This is also the eighth consecutive year that ZTE has ranked among the top three in the world, meaning that ZTE has become one of the major patent holders in the global communications industry.
WIPO expects China to overtake the US as the world’s largest source of patent applications in the communications sector within two to three years as huawei and ZTE outperform.
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