China’s ZTE expected to take last step to lift ban: U.S. official

(Reuters) – China’s ZTE Corp is expected to deposit $400 million in an escrow account in a U.S. bank in the “next couple of days,” the last step the Chinese company must take before a ban on U.S. suppliers can be lifted, a U.S. Department of Commerce official told Reuters on Friday.

FILE PHOTO: The logo of China’s ZTE Corp is seen at the lobby of ZTE Beijing research and development center building in Beijing, China June 13, 2018. REUTERS/Jason Lee

Reporting by Karen Freifeld

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