clear
Saturday April 21st, 2018 1:09PM

China to protect 'legitimate rights' after US penalizes ZTE

By The Associated Press
Related Articles
  Contact Editor

BEIJING (AP) — China's government said Tuesday it was ready to protect its "legitimate rights" after U.S. authorities penalized one of the country's most prominent tech companies in a case involving exports of telecoms equipment to Iran and North Korea.

The Commerce Ministry expressed hope Washington would treat ZTE Corp. fairly after the U.S. Commerce Department concluded it paid bonuses to employees involved in the export scheme instead of disciplining them as promised in 2017.

The Commerce Department on Monday barred state-owned ZTE for seven years from importing American components.

ZTE, headquartered in the southern city of Shenzhen, pleaded guilty in March 2017 and agreed to pay a $1.19 billion penalty for shipping the telecoms equipment to North Korea and Iran in violation of U.S. regulations.

"We hope the United States will properly handle the matter in accordance with regulations and create a fair, equitable and stable legal and policy environment for the company," a Commerce Ministry statement said.

"The Ministry of Commerce will pay close attention to the progress of the situation and stands ready to take necessary measures to safeguard the legitimate rights and interests of Chinese companies."

ZTE said in a statement it was "evaluating the possible impact" on the company.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy
© Copyright 2018 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
ABC makes unusual decision to release all of Comey talk
ABC's unusual decision to release full transcript of George Stephanopoulos' interview with former FBI Director James Comey has turned into a hit for network's website
10:19PM ( 7 minutes ago )
Robert Durst faces photos of slain friend in life, in death
New York real estate heir Robert Durst has seen photos of a friend he's accused of killing during the first day of a key hearing
10:10PM ( 15 minutes ago )
Heavy rains ease, rescue efforts improve after Hawaii storm
Heavy rains on Kauai are allowing emergency workers to better rescue people stranded by flooding
10:02PM ( 23 minutes ago )
Associated Press (AP)
Counterfeit cosmetics seized in LA contained lead, feces
Los Angeles police say $700,000 worth of counterfeit cosmetics seized from vendors in downtown's fashion district have tested positive for bacteria, lead and traces of animal feces
8:22PM ( 2 hours ago )
Lawsuit dropped between Elaine Wynn and ex's former company
A years-long boardroom battle involving the company founded by embattled former Las Vegas casino mogul Steve Wynn and his ex-wife has settled on the brink of the start of trial in Nevada state court
8:15PM ( 2 hours ago )
Colorado teachers rally at Capitol for school funding
Hundreds of public school teachers swarmed the Colorado state Capitol on Monday, shuttering one suburban Denver school district to demand better salaries
8:01PM ( 2 hours ago )
AP Business
Allegiant Air under fire after '60 Minutes' safety report
Allegiant Air is under fire following a new investigation that raises serious safety concerns about the discount airline
5:39PM ( 4 hours ago )
Tech, health care stocks are big gainers as US indexes rally
Investors shrugged off geopolitical jitters, sending U.S. stocks broadly higher, extending the market's gains from last week
4:33PM ( 5 hours ago )
Trump puts forward 2 more nominees for Fed board
Trump puts forward 2 more nominees for Fed board including Columbia professor as vice chairman
3:53PM ( 6 hours ago )
AP Business - Economy
ABC makes unusual decision to release all of Comey talk
ABC's unusual decision to release full transcript of George Stephanopoulos' interview with former FBI Director James Comey has turned into a hit for network's website
10:19PM ( 7 minutes ago )
Robert Durst faces photos of slain friend in life, in death
New York real estate heir Robert Durst has seen photos of a friend he's accused of killing during the first day of a key hearing
10:10PM ( 16 minutes ago )
Heavy rains ease, rescue efforts improve after Hawaii storm
Heavy rains on Kauai are allowing emergency workers to better rescue people stranded by flooding
10:02PM ( 23 minutes ago )
Arizona lawmaker expelled for harassment files $1.3M claim
A former Arizona representative who became the first state lawmaker expelled for sexual misconduct since the #MeToo movement swept the nation has filed a $1.3 million claim against the House speaker and Gov. Doug Ducey's chief of staff.
10:01PM ( 25 minutes ago )
Sacramento police release new video following fatal shooting
Sacramento police have released 54 new video and audio clips related to the fatal shooting of an unarmed black man in March
9:50PM ( 35 minutes ago )