The Ministry of Commerce (MOFCOM) on Tuesday expressed strong dissatisfaction with and firm opposition to the U.S. Commerce Department's decision to place export restrictions on China's second-largest telecom equipment maker ZTE Corp, according to a statement posted on the website of the MOFCOM.
ZTE has been actively doing business in global markets, the statement said, noting that the company has conducted extensive cooperation in trade and investment with hundreds of U.S. companies, providing thousands of employment opportunities in the U.S.
The U.S. move will have a severe impact on the normal operations of the Chinese company and China will continue negotiating with the U.S. side on this issue, the MOFCOM said.
ZTE is fully committed to compliance with the laws and regulations in the jurisdictions in which it operates, said a statement the company posted on its website on Tuesday.
ZTE has been cooperating, will continue to cooperate and communicate with all U.S. agencies as required, said the statement. The company is working expeditiously toward resolution of this issue, ZTE said.
China is opposed to the U.S. using domestic laws to put sanctions on Chinese companies, Hong Lei, a spokesman for the Foreign Ministry, told a briefing on Monday.
The Chinese side urges the U.S. side to call off the wrong action lest it should jeopardize economic cooperation and the relationship between China and the U.S., said Hong.
The U.S. Commerce Department has placed export restrictions on ZTE for allegedly selling embargoed U.S. technology products to Iran, according to Bureau of Industry and Security under the U.S. Department of Commerce, in a notice published on Tuesday in the U.S. Federal Register, a daily U.S. government publication that announces actions by federal agencies.
The company can appeal against the action, according to Reuters.
