America expelled China’s largest telecom company ZTE from US trade blacklist. According to China Radio National, it is said in a latest report that inquires have been done against company’s previous CEO Lirang Shee. After investigations company has been expelled from US Trade Blacklist.
Previous year ZTE has been blacklisted according to an American Commerce Department ‘Export Administrations Regulations’ due to illegal trade in America. This year company agreed to pay fines.
Company’s administration said that the company agreed to pay penalty of $892 million against the violations of civil and defense laws.
To prevent future violations an additional penalty of $300 million will be scrapped.