Chinese tech giant ZTE said it will strive to develop its own technology. That comes after the United States banned hardware and software sales to the company for 7 years.
CGTN’s Jiang Shaoyi reports.
“ZTE strongly opposes the decision made by the U.S. Commerce Department,” Yin Yimin, ZTE’s General Manager said in a press conference. “We also object to politicizing any trade issues. The U.S. government is blowing this issue way out of proportion.”
ZTE earlier in a statement said the U.S. had ignored its efforts to comply with American laws, which includes agreeing to pay as much as $1.2 billion in fines last year over allegations of doing business with Iran.
The telecom equipment maker also added it is open to dialogue. However, the U.S. Commerce Department said there would be no room for negotiation before the ban finishes its effect.
The Chinese Foreign Ministry said the U.S. move is actually trade protectionism in disguise.
“This exposes its hegemonic attitude that the U.S. should be the only nation in procession of such technologies, rather than other countries,” Hua Chunying, Chinese Foreign Ministry’s spokespersion said.
ZTE also displayed its determination in becoming self-sufficient in technology.
“We still need to increase our input in technological research,” Yin Yimin said. “It will always be better to rely on ourselves than on others.”
But that’s far from being easy. China currently is the world’s largest consumer market for semiconductor products, importing over $230 billion worth of chips last year.
Telecom equipment maker Huawei has also announced it will use 15 percent of its sales revenue to invest in technological research and development in the next decade.