ZTE action ‘will hurt US’

Source: Xinhua | 2018-04-20

CHINA’S Ministry of Commerce said yesterday that the American action against China’s leading telecom equipment maker ZTE Corp will inflict self-damage.

“The action targets China, however, it will ultimately undermine the United States itself,” said ministry spokesman Gao Feng.

The US will lose tens of thousands of job opportunities, while hundreds of related American enterprises will also be affected.

The ministry also said yesterday China is reviewing US smartphone chip supplier Qualcomm’s bid to acquire its Dutch rival chipmaker NXP Semiconductors based on anti-trust laws.

The company has to receive approval from market regulators in nine countries to seal the deal.