The U.S. announced April 16 a ban on exports to China’s second-largest telecommunications firm [ZTE – Zhongxing Telecommunications Equipment Corporation]. This was the latest penalty against that company for violating U.S. export controls.
For companies that have conducted business with ZTE, they should consider implementing a comprehensive compliance response plan. Among other things, this plan should identify and prohibit any potential export activity with ZTE, including shipments (either direct or through third parties), release of technical data or software, and access to support sites, and address how to effectively communicate within and outside the company on ZTE business and related questions.
On June 8, 2018, BIS has reached a superseding settlement agreement with Zhongxing Telecommunications Equipment and ZTE Kangxun Telecommunications Ltd. (collectively, “ZTE”), which may lift the April 15, 2018 Denial Order that BIS issued against ZTE which includes:
- $1.4 Billion ZTE Settlement
- ZTE Board, Management Changes
- Strictest BIS Compliance Requirements Ever
Click here for all the details
LATEST [6/15] – Senate leaders plan to set up a vote that would undo the White House deal to revive Chinese telecommunications company ZTE Corp. They plan to wrap into the National Defense Authorization Act an amendment that would ban ZTE from buying components from U.S. suppliers. More to come on this…..