US rejects ZTE appeal against ban as a national security threatBusiness | 25 Nov 2020 2:13 pm
The US Federal Communications Commission said on Tuesday it had rejected a petition from ZTE (0763) asking the agency to reconsider its decision designating the Chinese company as a U.S. national security threat to communications networks.
The FCC announced in June it had formally designated China's Huawei Technologies and ZTE as threats, a declaration that bars U.S. firms from tapping a US$8.3 billion government fund to purchase equipment from the companies.
The FCC on December 10 will vote on rules to help carriers remove and replace untrusted equipment from networks.
Shares of ZTE fell 3.74 percent to HK$20.6 in the morning.