In the morning of this morning, ZTE announced that the company has temporarily suspended the ban from the US Department of Commerce, from July 2, 2018 to August 1, 2018.
However, the US also stipulates that ZTE needs to conduct limited transactions under the following four aspects:
(1) Continue to operate existing networks and equipment. BIS authorizes to participate in the maintenance of any network or equipment in accordance with the contracts and agreements signed by ZTE and third parties before April 15, 2018, subject to other EAR regulations. And the necessary transactions to provide support (including software updates or patches).
(2) Support for existing mobile phones. BIS is authorized to participate in the services necessary to provide services and support (including software updates or patches to ZTE mobile phones) subject to other EAR regulations. This license is limited to 2018. ZTE mobile phone models listed on or before April 15th.
(3) Cybersecurity research and vulnerability disclosure. BIS authorizes, in compliance with other EAR regulations, and when it comes to providing security research that is critical to the maintenance of communication networks and equipment integrity and reliability, to ZTE The communication discloses information about security vulnerabilities in ZTE's owned, possessed, or controlled items.
(4) Transfer of limited funds. BIS authorizes parties to pay or collect payments from ZTE for legal transactions and activities under this authorization.
Yesterday evening, ZTE just announced the appointment of the latest CEO and other personnel. It agreed to hire Mr. Xu Ziyang as the president of the company, and agreed to hire Mr. Wang Xiyu, Mr. Gu Junying, Ms. Li Ying as the company's executive vice president; and agreed to hire Ms. Li Ying as the company's finance Director.