ZTE, one of China's biggest tech companies, is asking the United States to suspend a ban that threatens to cripple its business. ZTE (ZTCOF) said it has submitted a request for the US Commerce Department to put on hold an order forbidding American firms from selling parts and providing services to it. But the crackdown has been widely interpreted as part of a broader push by the United States to stifle China's tech ambitions. Huawei is effectively shut out of the United States, but ZTE has made significant inroads there. ZTE shares, which trade in Hong Kong and Shenzhen, have been suspended since the Commerce Department announced the ban last month.

Source: CNN May 07, 2018 07:18 UTC