4hw.com.cn: ZTE held a press conference at its headquarters in Shenzhen at 3:00 this afternoon, but the conference lasted only 10 minutes. At the conference, Yin Yimin, chairman of ZTE, said that the U.S. ban may lead to ZTE's shock, which will directly damage the interests of all employees, operators' customers, end consumers and shareholders all over the world. We firmly oppose it.
In addition, Yin Yimin stressed that he opposed trade politicization and said that he would increase investment in research and development.
Yin Yimin said that the core parts of the company's main products use a large number of special chips developed and designed by itself, but we still have a large number of general-purpose devices inevitably purchased. We need to increase investment in technology to further improve. Information industry is the most open industry in the world. Countries all over the world are developing technology in the field, which leads to the globalization of procurement chain is very scattered. No country can complete all industrial chains independently. Although the United States is in the leading position, American enterprises also inevitably need global industrial chains, because for our Sanctions, leading to the interruption of our industrial chain, does not mean that we do not have core capabilities.
Earlier, ZTE issued a statement on its website and official wechat, saying that before the relevant investigation was completed, the industry and Security Bureau of the US Department of Commerce insisted on imposing the most severe sanctions on the company, which was extremely unfair to ZTE and unacceptable to ZTE.
ZTE has informed its employees internally to immediately stop all businesses related to the US export ban, according to people familiar with the matter. In addition, sources revealed that ZTE's chief compliance officer and chief legal officer had been removed more than a month before the decision was made in the US.