US Lifts Order Against China’s ZTE

(From BBC News)

The US has lifted an order that blocked Chinese tech giant ZTE from doing business with US companies, forcing the firm to halt major operations.

US President Donald Trump had intervened to end the ban, which was imposed in April and tied to ZTE violations of US sanctions against Iran and North Korea.

Instead the US said ZTE would be fined and forced to shake up its management.

The US Commerce Department said the firm had now complied with all steps.

ZTE paid a $1bn penalty last month and has now placed an additional $400m in a holding account against further violations, the Commerce Department said on Friday.

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