Business
16:41, 20-Apr-2018
China’s ZTE opposes US trade ban
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The US tech ban on Chinese company ZTE preventing it from buying technology from American companies for allegedly violating US sanctions against the DPRK and Iran has damaged the global supply chain which no country can be completely independent of, China’s ZTE said at a press conference on Friday.
The chips that are applied to key components of the multinational telecommunications equipment and systems company’s major products are self-developed, but it is unavoidable to purchase some parts from outside, ZTE chairman Yin Yimin told CGTN at a press conference.
The IT industry is one of the most open industries in the world so all countries are involved in a highly-dispersed supply chain, Yin said, noting no country can establish an entirely independent supply chain.
Even though the US holds a leading position, US companies also rely on the global supply chain, Yin said.
The US tech ban may bring the company to “an abrupt stop” and cause direct damage to all employees, clients, consumers and shareholders, he said.
On Friday morning, ZTE made a statement expressing that the latest US ban is unacceptable, calling the decision "extremely unfair".