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U.S. Commerce Department to place restrictions on China's ZTE
Reuters: The U.S. Commerce Department is set to place export restrictions on Chinese telecoms equipment maker ZTE Corp (000063.SZ) for alleged violations of U.S. export controls on Iran, according to documents seen by Reuters.
The restrictions will make it difficult for the company to acquire U.S. products by requiring ZTE's suppliers to apply for an export license before shipping any American-made equipment or parts to ZTE. According to a Commerce Department notice that will be published next week in the U.S. Federal Register, the license applications generally will be denied.
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