April 20, 2018 / 2:29 AM / 7 months ago

China's ZTE slams U.S. ban on sales as unfair, vows to safeguard interests

HONG KONG, April 20 (Reuters) - Chinese telecom equipment maker ZTE Corp said on Friday a U.S. decision to impose sanctions on the company was unfair and threatens the survival of the technology giant as it pledged to safeguard its rights through all legal means.

The United States this week imposed a ban on American companies selling parts and software to ZTE for seven years, saying it had broken a settlement agreement with repeated false statements - a move that threatens to cut off the Chinese firm’s supply chain.

“It is extremely unfair to ZTE and we cannot accept it!” China’s second-largest telecoms equipment maker said in a statement.

“Refusal orders will not only seriously endanger the survival of ZTE, but also hurt the interests of all ZTE’s partners including a large number of US companies.”

Trading in its shares has been suspended in China since Tuesday.

Reporting by Anne Marie Roantree; Editing by Edwina Gibbs

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