Skip to content
Subscriber Only

ZTE Surges After the U.S. Frees It to Resume Doing Business

  • Hong Kong stock jumps 15% and Shenzhen shares go limit-up
  • The U.S. decision rescues ZTE from its months-long limbo
Latest Technology and Gadgets at Mobile World Congress Shanghai
Photographer: Qilai Shen/Bloomberg

ZTE Corp. climbed as much as 15 percent after the U.S. formally lifted a ban on its American technology purchases, allowing the Chinese telecoms gear-maker to resume business.

The company’s shares marked a month’s high in Hong Kong and rose by their 10 percent daily limit in Shenzhen. Washington’s decision resolves a months-long moratorium that thrust ZTE into the center of a U.S.-China trade dispute and threatened to choke off the components it needs to make its networking gear and smartphones.